Retail

Joint Venture Sells Food 4 Less Retail Property in Stanton for $18.5M

by Nellie Day November 6, 2015

STANTON, CALIF. — A joint venture between Heslin Holdings Inc., a privately owned commercial real estate investment and development firm, and San Diego-based Becker Properties has completed the disposition of a retail property located at 7910 Katella Ave. in Stanton. Safeco purchased the 81,000-square-foot property for $18.5 million. Food 4 Less fully occupies the building on a long-term lease through 2026. Steve Frey at Sperry Commercial and Chris Sands of Sands Investment Group represented Heslin Holdings in the transaction.

November 6, 2015

California Retail Western

TCA Architects Unveils Renderings for Mixed-Use Project in San Diego

by Nellie Day November 6, 2015

SAN DIEGO — TCA Architects has unveiled its design for Millennium Mission Valley, a mixed-use community located in San Diego’s Mission Valley. Situated on 5.3 acres, the property will feature 291 apartment homes, 14 live-work units and more than 9,000 square feet of retail space. The retail component includes two single-story retail structures and the 14 live-work units, which feature storefronts and retail awnings. The residential component is situated behind the retail space and a public paseo. Developed by The Dinerstein Companies, the project is scheduled for completion in fall 2017.

November 6, 2015

Restaurant Retail Texas

Wingstop to Open in North Dallas

by Katie Sloan November 6, 2015

DALLAS — Bright Realty has brokered the lease for a new Wingstop in Dallas. The 1,781-square-foot restaurant will be located at the intersection of Preston Road and Frankford Road. Britton Lankford of Bright Realty represented the tenant in the transaction.

November 6, 2015

Maryland Retail Southeast

Sterling Organization Acquires 319,518 SF Retail Property Near Baltimore for $31.6M

by Christina Cannon November 6, 2015

PASADENA, MD. — Sterling Organization has acquired a 319,518-square-foot retail center in Pasadena, approximately 15 miles south of Baltimore. Sterling Organization purchased Pasadena Crossroads in an off-market transaction from Pasadena Crossroads LLC for $31.6 million. The shopping center is anchored by Kmart, Shoppers Food & Pharmacy, Babies “R” Us, LA Fitness and Gardiner Wolf Furniture. The center is currently 100 percent occupied and was built in the 1970s. Pasadena Crossroads is located across the street from a new 120,000-square-foot Walmart, which is set to open this month.

November 6, 2015

Midwest Ohio Retail

Marcus & Millichap Brokers $2.7M Sale of Net-Leased Retail Property South of Dayton

by Christina Cannon November 6, 2015

CENTERVILLE, OHIO — Marcus & Millichap has brokered the sale of a 19,722-square-foot retail property in Centerville, a southern suburb of Dayton, for $2.7 million. Cross Pointe IV is located at 199 E. Alex Bell Road and is fully occupied. Tenants include Firestone and AT&T. The property is an outparcel to a larger retail center that is anchored by Marshalls, Earth Fare, Petco and Bed Bath & Beyond. C.J. Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the seller, a private investor. The team also secured and represented the buyer, an out-of-state private investor.

November 6, 2015

Illinois Midwest Retail

Boulder Group Arranges $2.1M Sale of Net Leased Property in Round Lake Beach, Illinois

by Christina Cannon November 6, 2015

ROUND LAKE BEACH, ILL. — The Boulder Group has completed the sale of a retail building in Round Lake Beach, about 50 miles northwest of Chicago, for $2.1 million. The two-tenant, net leased building is located at 418-20 E. Rollins Road. Tenants at the retail property include Heartland Dental and AT&T, each of which has a 10-year lease. The buyer was a private partnership in a 1031 exchange, and the seller was a Midwest-based real estate development company. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both undisclosed parties.

November 6, 2015

Midwest Missouri Retail

Sansone Group Breaks Ground on 4,345 SF Retail Center in St. Louis Suburb

by Christina Cannon November 6, 2015

SUNSET HILLS, MO. — Sansone Group has purchased a property formerly occupied by Sanders Automotive in Sunset Hills, a southwest suburb of St. Louis, for an undisclosed price. The seller was Gene Sanders Inc. The building on the site, located at 10775 Watson Road, is being torn down and will be redeveloped as a 4,345-square-foot retail center. Watson Plaza will feature a 1,650-sqare-foot Starbucks and a 2,695-square-foot Mattress Direct. Construction costs are estimated to be $2.5 million. Construction has already begun, and both stores are slated to open in the summer of 2016.

November 6, 2015

Mixed-Use Multifamily New York Northeast Retail

Joint Venture Selected to Redevelop, Manage Flatbush Caton Market in NYC

by Amy Works November 5, 2015

NEW YORK CITY — The New York City Economic Development Corp. has selected a joint venture of Urbane Development, BRP Development and Caribbean American Chamber of Commerce and Industry (CACCI) to redevelop and manage Flatbush Caton Market, located at 814 Flatbush Ave. in Brooklyn. The market was established in 2000 to provide former street vendors a permanent indoor market to sell their wares, and in 2013 NYCEDC released a RFP to redevelop and manage the market into a commercial, residential and community space. The joint venture’s winning 212,000-square-foot redevelopment plan includes more than 20,000 square feet of retail space, 10,000 square feet of community facilities and 166 affordable housing units, as well as an assemblage of business training and support initiatives to strengthen existing vendors and support entrepreneurial growth. Designed by Freeform + Deform, the project will feature convertible indoor/outdoor swing space, modular vendor pods, and multiple production spaces for food, natural personal care and fashion/textile uses. Redevelopment is underway with an expected completion date of late 2019 or early 2020.

November 5, 2015

Loans New York Northeast Office Retail

HFF Secures $89M in Refinancing for Retail, Office Building in NYC’s Meatpacking District

by Amy Works November 5, 2015

NEW YORK CITY — HFF has arranged $89 million in refinancing for a retail and office building located at 401 W. 14th St. in the Meatpacking District. MetLife provided the borrower, Taconic Investment Partners, with a 15-year, interest-only, fixed-rate loan. The four-story building is 100 percent leased to Hugo Boss, The Kooples, Apple Inc. and Raptor Capital Management. HFF secured the financing on behalf of the borrower.

November 5, 2015

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Arranges $16.7M Sale of Five-Property Portfolio in Brooklyn

by Amy Works November 5, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of The Duke Properties Brooklyn Portfolio, a package of four multifamily buildings and one mixed-use property in Brooklyn. The assets sold for $16.7 million, or $382 per square foot, in an all-cash transaction. The properties are located at 29 Brooklyn Ave., 137 MacDonough St., 235 Malcolm X Blvd., 1509 Pacific Ave. and 300 Palmetto St. Totaling approximately 43,750 square feet, the buildings feature 49 apartments and two retail units. Michael Amirkhanian of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.

November 5, 2015

Newer Posts

Older Posts

Upcoming Events

Aug
06