Retail

Realty Capital Sells Mixed-Use Building in Metro Dallas

by Haisten Willis September 22, 2015

COLLEYVILLE, TEXAS — Irving-based Realty Capital Management LLC has sold a 12,000-square-foot mixed-use building located at 16 Village Lane in Colleyville to SC 16 Village Lane Investment LLC. The building is part of a larger 26-acre mixed-use development known as The Village at Colleyville, which was developed by Realty Capital in 2002. The mixed-use building was fully leased to four retail tenants on the first floor and one office tenant on the second floor. The ground floor tenants include Posh Hair Studio, The Lash Lounge, The Lodge Barbershop and Posh Body. The sole second floor tenant is Ztar Mobile. Realty Capital had owned the building since 2004 when the property was originally delivered. Russ Webb and LeAnn Brown with Silver Oak Commercial Realty represented the seller in the transaction. Holt Lunsford and Matt Carthey with Holt Lunsford Commercial represented the buyer. The Village at Colleyville is located at Main Street and Highway 26 (Colleyville Boulevard).

September 22, 2015

Mixed-Use Multifamily New York Northeast Retail

Eastern Consolidated Brokers $31M Sale of SoHo Property

by Amy Works September 22, 2015

NEW YORK CITY — Eastern Consolidated has brokered the sale of a mixed-use, elevator building, located at 49 Greene St. in SoHo. The six-story property sold for $31 million, or $1,240 per square foot. The 25,000-square-foot building features seven apartment units and a 5,500-square-foot vacant retail space. Peter Hauspurg of Eastern Consolidated represented the seller, Les Pieds Nickle’s Inc., while Deborah Gutoff of Eastern and Robert Dankner of Prime Manhattan Residential represented the buyer, EMP Capital, in the transaction.

September 22, 2015

Michigan Midwest Retail

Landmark Investment Sales Brokers $6.8M Sale of Former Retail Space in Michigan

by Christina Cannon September 22, 2015

ROCHESTER HILLS, MICH. — Landmark Investment Sales has brokered the sale of a 13-acre former Kmart. The property is 121,000 square feet and sold for $6.8 million. The space is located at the intersection of Rochester Road and Avon Road in Rochester Hills, which is approximately 30 miles from Detroit.

September 22, 2015

4151 Turtle Creek Drive Coral Springs PetSmart

Florida Retail Southeast

Colliers Brokers $6M Sale of Single-Tenant PetSmart Store in Coral Springs

by John Nelson September 22, 2015

CORAL SPRINGS, FLA. — Colliers International has brokered the $6 million sale of a 19,077-square-foot, single-tenant retail property in Coral Springs. Constructed in 2005, the freestanding retail building is located at 4151 Turtle Creek Drive. PetSmart currently occupies the property and has 11 years remaining on its lease. Steve Schroeder of Solid Investments represented the Chile-based buyer, Andyara Investments LLC, in the transaction. Jon Busse, Ron Schultz and Mike Milano of Colliers represented the seller, Burlingame Coastal LLC.

September 22, 2015

California Market Reports Retail Western Western Market Reports

Retail Rallies in San Diego

by Nellie Day September 22, 2015

The San Diego retail market had another positive quarter, which built on the strength of the local economy. Strong job growth and low unemployment led to positive net absorption and a spike in sales activities. The unemployment rate decreased across the board. San Diego posted a 4.9 percent rate, a post-recession low for overall unemployment. This is the first time San Diego unemployment has been sub-5 percent since the beginning of 2008. Local San Diego retail employment has been steadily increasing by 2.4 percent over the past five years, according to CBRE Econometric Advisors. Annual growth for the next five years, however, is expected to be relatively flat. Despite the lack of space, there have been a few construction deliveries. Most of the current retail construction in San Diego is from mixed-use development and property renovations. Westfield plans to spend $500 million to expand its center at UTC. It will also spend $300 million in Carlsbad where it plans intends to transform an indoor mall into an open-air center. Regional malls are leading the trend, and smaller centers like Flower Hill Promenade and Del Mar Heights Town Center are keeping up with them. One of the most significant signings this …

September 22, 2015

California Loans Retail Western

CBRE Capital Markets Secures $9M in Financing for Regency Plaza

by Nellie Day September 21, 2015

PLEASANT HILL, CALIF. — CBRE Capital Markets’ Debt & Structured Finance has arranged $9 million in non-recourse financing for the refinance of Regency Plaza in Pleasant Hill. The center features 36,597 square feet of retail space. CBRE arranged the 10-year, fixed-rate financing at a 74 percent loan-to-value on behalf of the client, a private high-net-worth real estate investor. A foreign bank provided the capital. Michael Walker of CBRE secured the financing for the borrower.

September 21, 2015

Arizona Retail Western

Two Pure Barre Locations to Open in Metro Phoenix

by Nellie Day September 21, 2015

MESA AND GILBERT, ARIZ. — Two new Pure Barre locations are set to open in the Phoenix area. Leases include a 1,935-square-foot space in Village Square at Dana Park in Mesa, and a 1,658-square-foot space in Spectrum Town Center in Gilbert. Alan Houston of SRS Real Estate represented the tenant, Pure Barre, in both transactions.

September 21, 2015

Retail Texas

HighStreet Arranges Sale of Multi-Tenant Retail Center in Metro Houston

by Haisten Willis September 21, 2015

SPRING, TEXAS — HighStreet Net Lease Group, a Texas-based company specializing in the disposition and acquisition of net leased investment properties, represented a Houston-based retail owner/developer in the sale of Louetta Creek Plaza, a multi-tenant retail center located at 4660 Louetta in Spring. Matt Moake of HighStreet represented the seller. Glenn Clements of MFT Interests represented the buyer, a local investment group. The 27,000-square-foot property was originally developed in 2005 and is located near the intersection of Louetta and Kuykendahl.

September 21, 2015

Mixed-Use Retail Texas

New Mixed-Use Project to Open in Austin in 2018

by Haisten Willis September 21, 2015

AUSTIN, TEXAS — GroundFloor Development and Prescott Group have announced plans for Saint Elmo, a mixed-use project set to open in Austin in the first quarter of 2018. Designed by Andersson-Wise Architects and located on South Congress near Ben White Boulevard, Saint Elmo will include 225,000 square feet of office space and a 40,000-square-foot indoor-outdoor marketplace. GroundFloor Development and Prescott Group are the master developers of the $120 million project. In November of last year, the Austin city council approved the rezoning request for the project. Construction is slated to begin in mid-2016. Andersson-Wise Architects is the lead architect of the project, KBGE’s Chad Kimbell is the civil engineer, David Hocker of Hocker Design is the landscape designer, Juice Consulting’s Heather Wagner Reed will oversee public relations and marketing, and Helms Workshop is the strategic brand design studio.

September 21, 2015

Industrial Office Retail Texas

M&M Arranges Sale of 32,621 SF Self-Storage, Office Warehouse and Retail Facility in Austin

by Haisten Willis September 21, 2015

AUSTIN, TEXAS — Marcus & Millichap has arranged the sale of Sheahan Self Storage, a 32,621-square-foot self-storage, office warehouse and retail property located in Austin. Justin Miller and Dave Knobler of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership. Knobler and Miller secured the buyer, a limited liability company, as well. Sheahan Self Storage is located at 11712 N. Lamar Blvd. in Austin.

September 21, 2015

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