Retail

Marcus & Millichap Arranges $3.7M Sale of Strip Center in Metro Atlanta

by John Nelson September 17, 2015

SUWANEE, GA. — Marcus & Millichap has brokered the $3.7 million sale of Moore Road Village, a 20,000-square-foot retail strip center located at 991 Peachtree Industrial Blvd. in Suwanee, a northeast suburb of Atlanta. Built in 2008, the property’s tenant roster includes FedEx Office, American Body Works, T-Mobile and Riverside Pizza. Craig Johnson and Tim Giambrone of Marcus & Millichap’s Atlanta office represented the seller, a private investor, in the transaction. Johnson and Giambrone also secured the buyer, which was also a private investor.

September 17, 2015

Retail Texas

M&M Arranges Sale of Retail Property in Galveston

by Haisten Willis September 16, 2015

GALVESTON, TEXAS — Marcus & Millichap has arranged sale of Jamaica Village Shopping Center, a 21,065-square-foot retail property located in Galveston. Derek Hargrove and Matthew Mignerey of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. The team secured a Houston owner and facilitated the sale with a local bank lender. Jamaica Village Shopping Center is located at 16708 San Luis Pass Road.

September 16, 2015

Loans Retail Washington Western

Bellevue Collection Mixed-Use Property Receives $526M Loan for Expansion

by Nellie Day September 16, 2015

BELLEVUE, WASH. — The Bellevue Collection has received a $526 million construction-to-permanent loan to expand the 4-million-square-foot, mixed-use property in Bellevue. The new 1.5-million-square-foot phase will be known as the Lincoln Square Expansion. The development, which is currently underway, will include a 41-story multifamily/W Hotel tower, a 31-story trophy office tower, and a three-level retail podium, which will be anchored by a luxury theater and chef-driven restaurants. The retail podium and towers will sit above a six-level underground parking garage that is contiguous with more than 4,000 existing subterranean parking spaces. An affiliate of CPPIB Credit Investments Inc., a wholly owned subsidiary of Canada Pension Plan Investment Board (CPPIB), provided the financing. The single source of capital was attractive to the borrower because it removed syndication risk and provided a single point of contact. Dave Karson, Alex Hernandez and Chris Moyer of Cushman & Wakefield represented the borrower, Kemper Development Co.

September 16, 2015

Florida Retail Southeast

Axiom Brokers $12M Sale of Publix-Anchored Shopping Center in Central Florida

by John Nelson September 16, 2015

HAINES CITY, FLA. — Axiom Capital Advisors has brokered the $12 million sale of a Publix-anchored shopping center located at 600 US Highway 17-92 in Haines City. The 118,848-square-foot shopping center’s tenant roster includes Bealls Outlet, Dollar General and Anytime Fitness. Roberto Susi of Axiom represented the buyer, Haines City Mall LLC, in the transaction. Craig Callaway and Eric Bylin of BlueGate Partners represented the seller, Haines Mall LLC, an affiliate of Blackpoint Partners.

September 16, 2015

Mixed-Use Multifamily New York Northeast Retail

9,250 SF Mixed-Use Building in Brooklyn Sells for $3.3M

by Amy Works September 16, 2015

NEW YORK CITY — An undisclosed buyer has acquired a mixed-use building located at 1902 Church Ave. in Brooklyn’s Flatbush neighborhood. The corner property sold for $3.3 million, or $357 per square foot, in an all-cash transaction. The three-story, 9,250-square-foot building features nine rent-stabilized apartments and three commercial units. Richard Velotta of Cushman & Wakefield handled the transaction. The name of the seller was not released.

September 16, 2015

Retail Texas

Joybird Furniture Opens First Houston Location

by Haisten Willis September 15, 2015

HOUSTON — Joybird Furniture, a mid-century modern furniture company based in Los Angeles, has opened its first retail location at 1735 Westheimer Road in Houston. Mark Davis of Davis Commercial Real Estate represented the landlord, 1735 Westheimer LLC, in the transaction. The 2,000-square-foot space is located between Dunlavy and Woodhead streets across from Empire Cafe.

September 15, 2015

Retail Texas

M&M Arranges Sale of 30,330 SF Retail Property in Houston

by Haisten Willis September 15, 2015

HOUSTON — Marcus & Millichap has arranged the sale of Copperfield Place Shopping Center, a 30,330-square-foot retail property located in Houston. Marcus & Millichap marketed the property on behalf of the seller, a local partnership, and brought the deal to the buyer, a local developer and investor. Copperfield Place Shopping Center is located on Highway 6 North in Houston within the Copperfield master-planned community.

September 15, 2015

Arizona Retail Western

Cushman & Wakefield Arranges $8M Sale of Rancho Encanto in Phoenix

by Nellie Day September 15, 2015

PHOENIX — Cushman & Wakefield has arranged the $8 million sale of Rancho Encanto, a 70,859-square-foot, grocery-anchored shopping center in Phoenix. Ryan Schubert and Michael Hackett of Cushman & Wakefield represented the seller, Weingarten Nostat Inc., in the transaction. Massco Investments LLC acquired the property, which was 75.3 percent leased at the time of sale to tenants including Smart & Final, UFC Gym/LA Boxing, Springleaf Financial, Tandy Leather, Little Caesar’s Pizza and Southwest Title.

September 15, 2015

Arizona Retail Western

Brixmor Property Group to Reposition Anchor and Begin Renovations at Glendale Galleria

by Nellie Day September 15, 2015

GLENDALE, ARIZ. — Brixmor Property Group is set to open a new LA Fitness anchor and begin renovations at Glendale Galleria, a shopping center in Glendale. LA Fitness will occupy 36,894 square feet formerly occupied by Food City, and will open in the fourth quarter of 2016. Renovations at the center will include a contemporary façade, new signage and lighting, parking lot improvements and decorative landscaping.

September 15, 2015

New York Northeast Retail

Shaw Industries to Open 7,963 SF Showroom in NYC’s Union Square

by Amy Works September 15, 2015

NEW YORK CITY — Shaw Industries, a carpet manufacturer, has signed a long-term lease to occupy 7,963 square feet of retail space at 853 Broadway in Union Square. The company will take occupancy of the entire third floor at the end of this year to use as a showroom. The third floor is the first of three floors that were recently renovated with a glass curtain wall. The 21-story, 212,000-square-foot office building is owned and managed by The Feil Organization. Robert Fisher provided in-house representation for the landlord, while Nicholas Weld and Michael Affronti of CBRE represented Shaw Industries in the transaction.

September 15, 2015

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