Retail

Boulder Group Brokers $1.9M Sale of Hooters in Illinois

by Christina Cannon September 25, 2015

ROCKFORD, ILL. — The Boulder Group has brokered the sale of a single-tenant net lease Hooters located at 6904 Argus Drive in Rockford, which is approximately 90 miles northwest of Chicago. The property is 4,700 square feet and sold for $1.9 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller who are undisclosed. There are over five years remaining on the corporately guaranteed Hooters lease. The lease features no landlord responsibilities and 10 percent rental escalations every five years. The Boulder Group is a boutique investment real estate service firm specializing in single-tenant net lease properties.

September 25, 2015

Retail Texas

CBRE|UCR Completes Lease for Eatzi’s Market & Bakery in Fort Worth

by Haisten Willis September 24, 2015

FORT WORTH, TEXAS — CBRE|UCR has completed a new retail lease in Fort Worth on behalf of Eatzi’s Market & Bakery. The eatery signed a lease for an end cap space at the University Park Village Shopping Center located one block south of I-30. CBRE|UCR’s Greg Pierce and Ryan May handled site selection for Eatzi’s and represented the restaurant in the lease transaction with Simon Property Group, the landlord, which was represented in-house by Greg Vlahos. The Dallas-based chain, which already has retail locations in Plano, Grapevine, Highland Park and Uptown/Oak Lawn, expects to open the new Fort Worth store in late 2016 or early 2017. The company opened its first retail location in 1996. Eatzi’s Market & Bakery is a European-style eatery with dishes including grilled meats and seafoods, sushi, sandwiches and salads, deli meats and cheeses, pastries, desserts, beer and wine.

September 24, 2015

Retail Texas

M&M Arranges Sale of 92,956 SF Retail Property in Midland

by Haisten Willis September 24, 2015

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of Town and Country Shopping Center, a 92,956-square-foot retail property located in Midland. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Levy also secured the buyer, a private investor. Town and Country Shopping Center is located on a 9.3-acre site at 1000 N. Midkiff Road. The property is 88 percent occupied and all leases are triple net. Furr’s Cafeteria, Dollar Tree and Planet Fitness anchor the center. Major retailers in the immediate area include Subway, Sonic, McDonald’s, Hastings, Payless ShoeSource, Dollar General, Gold’s Gym, Lack’s Furniture, Comet Cleaners, Allstate Insurance, Quiznos and Advance Auto Parts.

September 24, 2015

California Retail Western

FresYes Realty Leases Retail Space in Fresno

by Nellie Day September 24, 2015

FRESNO, CALIF. — FresYes Realty has leased 1,320 square feet of retail space in Fresno. The space is located at 7785 N. Palm Ave. The landlord is Park Place Retail Partners LLC. John Lee and Lewis Smith of Retail California and Scott Christensen of Newmark Grubb Pearson Commercial brokered the transaction.

September 24, 2015

Georgia Retail Southeast

South Coast Commercial Purchases Metro Atlanta Shopping Center for $4.1M

by John Nelson September 24, 2015

SUWANEE, GA. — South Coast Commercial has purchased Laurel Springs Village, a 21,710-square-foot shopping center located at 3590 and 3592 Old Atlanta Road in Suwanee. The South Carolina-based investor acquired the fully occupied asset from Laurel Springs Holdings for $4.1 million. Built in 2004, the property is anchored by Titan Team Sports and leased to nine other tenants. Kevin Markwordt and Fred Victor of Transwestern represented the seller in the transaction.

September 24, 2015

Loans New York Northeast Retail

NorthMarq Capital Completes $12.9M in Financing for Five Retail Properties

by Amy Works September 24, 2015

LONG ISLAND AND DIX HILLS, N.Y. — NorthMarq Capital has arranged $12.9 million in financing for a four-property retail portfolio in Suffolk County, Long Island, and a retail plaza in Dix Hills. In the first transaction, the four-property portfolio in Suffolk County was refinanced for $4.4 million. The portfolio contains a combined 131,500 square feet of retail space. NorthMarq arranged a fully amortizing 18-year loan through its correspondent relationship with a life insurance company. In the second transaction, the company arranged $8.5 million in refinancing for Dix Hills Plaza, a 51,820-square-foot retail property located at 1815-1819 E. Jericho Turnpike in Dix Hills. NorthMarq structured a 9-year term with a 25-year amortization schedule through its relationship with a local bank for the borrower. Ernest DesRochers and Charles Cotsalas of NorthMarq Capital secured the financing in both transactions.

September 24, 2015

Loans Oregon Retail Western

HFF Arranges $23M Refinancing for Timberland Town Center in Portland

by Nellie Day September 23, 2015

PORTLAND, ORE. — Holliday Fenoglio Fowler (HFF) has arranged $23 million in financing for Timberland Town Center, a 91,901-square-foot retail center anchored by boutique grocer Market of Choice, in Portland. Casey Davidson of HFF worked on behalf of the borrower, Timberland Town Center LLC, to secure the 10-year, fixed-rate loan with AXA Equitable Life Insurance Co. through its advisor Quadrant Real Estate Advisors. Loan proceeds were used to take out the construction loan, as the property just reached stabilization. Other tenants include Pharmaca, Clutch Sausagery, H&R Block, La Belle Nail, Mud Bay, Zucari Home and Garden, Gentle Dental, Urban Wax, Star Cycle and Barre3 Fitness.

September 23, 2015

California Retail Western

Marcus & Millichap Arranges Sale of Junction Route 66 Plaza for $7.3M

by Nellie Day September 23, 2015

UPLAND, CALIF. — Marcus & Millichap has arranged the $7.3 million sale of Junction Route 66 Plaza, an 18,297-square-foot shopping center located in Upland. Josh Rey, Pablo Rodriguez and Richard Vincent of Marcus & Millichap worked on behalf of the seller, a personal trust, and Edward Kim of Realtyland Co. Inc. secured the undisclosed buyer in the transaction. Tenants at the center include Jiffy Lube, Popeye’s Chicken and Carl’s Jr., occupying the outparcel.

September 23, 2015

Connecticut Mixed-Use Northeast Office Retail

Allied Property Group Brokers $13.5M Sale of Mixed-Use Building in Connecticut

by Amy Works September 23, 2015

GREENWICH, CONN. — Allied Property Group has arranged the sale of a mixed-use building located at 125 Greenwich Ave. in Greenwich. JENN Realty sold the property to an undisclosed buyer for $13.5 million. The three-story building features 16,000 rentable square feet. Thomas Torelli of Allied Property Group represented the seller, while Goldschmidt Associates represented the buyer in the transaction.

September 23, 2015

Kentucky Retail Southeast

BC Wood Properties Buys Three Kroger-Anchored Shopping Centers for $30.4M

by John Nelson September 23, 2015

LEXINGTON, KY. — BC Wood Properties has purchased three Kroger-anchored shopping centers totaling 290,000 square feet for a combined $30.4 million. The shopping centers include Merchants Crossing in Jackson, Mich.; Shoppes of Hope Valley in Durham, N.C.; and Ridgewood Farm in Salem, Va. The Lexington-based company purchased the assets from a single seller via BCW Strategic Alliance Fund LP, the company’s second private equity fund.

September 23, 2015

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