Retail

Endeavor to Invest $27.5M in Renovation for San Marcos Shopping Center

by Katie Sloan September 11, 2015

SAN MARCOS, TEXAS — Endeavor Real Estate Group has announced plans to invest $27.5 million to revamp Springtown Shopping Center, a retail center with low occupancy along I-35 in San Marcos between Austin and San Antonio. Endeavor purchased the center in November, at which point it was 10.5 percent occupied and split among four separate owners. The developer has signed leases with two anchor tenants. EVO Entertainment Group leased 34,000 square feet to build a dine-in luxury movie theater, bowling alley and event venue called The Spot. Gold’s Gym has leased 42,000 square feet.

September 11, 2015

NorthMarq Capital Arranges $30M Financing for Retail Center in San Diego

by Nellie Day September 11, 2015

SAN DIEGO — NorthMarq Capital has arranged the $30 million refinance of Carmel Mountain Ranch Town Center, a 172,272-square-foot retail property located in San Diego. Michael Dobbins of NorthMarq secured the fully amortizing, 25-year term loan through a life insurance company. Tenants at the center include Trader Joe’s, Ralph’s, Chico’s, Rite Aid, Bank of America and McDonald’s.

September 11, 2015

Arizona Retail Western

Moon Valley Shopping Center to Open Safeway and Undergo Renovations

by Nellie Day September 11, 2015

PHOENIX — Triumph Properties Group is set to open a new Safeway location and start renovations on Moon Valley Shopping Center in Phoenix. Safeway recently signed a 20-year lease with Triumph Properties, and is investing several million dollars into the renovation and expansion of the entire store façade and interior of its new space. Ownership is also set to renovate the entire center, and to offer two new 5,000-square-foot pads for lease.

September 11, 2015

Retail South Carolina Southeast

Wheeler REIT Acquires Shopping Center in South Carolina for $6.6M

by John Nelson September 11, 2015

ORANGEBURG, S.C. — Wheeler Real Estate Investment Trust (Wheeler REIT) has purchased Grove Park Shopping Center, a 106,557-square-foot shopping center in Orangeburg. The shopping center is located at the interchange of U.S. Route 178 and Route 21 within a two-mile radius of Claflin University and South Carolina State University. The grocery-anchored center was 90 percent leased at the time of sale to tenants such as Bi-LO, AT&T, Kool Smiles and Republic Finance. Virginia Beach, Va.-based Wheeler REIT purchased the property using a combination of cash and debt.

September 11, 2015

New York Northeast Retail

Winick Realty Group Brokers 1,500 SF Lease in Manhattan for Kolorbar

by Amy Works September 11, 2015

NEW YORK CITY — Kolorbar, an upscale full-service beauty salon, has signed a lease for retail space at 306 E. 86th St. on Manhattan’s Upper East Side. The salon, which operates three additional stores in Manhattan, will occupy 1,500 square feet on the ground floor and 1,200 square feet in the basement of the building. The tenant is currently building out the space, including the installation of marble floors and an all-glass front, with occupancy expected in early November. Matthew Ball of Winick Realty Group represented the tenant, while Patty Holmstrom and Jeeun Elizabeth Kim, also of Winick Realty, represented the landlord, KMR Management, in the transaction.

September 11, 2015

Florida Retail Southeast

Glickman Retail Group Joins Colliers International Central Florida

by John Nelson September 11, 2015

ORLANDO, FLA. — Colliers International Central Florida has announced that Glickman Retail Group, a retail investment advisory firm in Orlando, has joined the company’s retail services team. Glickman Retail Group completed more than $40 million in real estate sales transactions year-to-date and has numerous more transactions set to close this year. Joining Colliers from the Glickman Retail team are Sean Glickman, Tom Hall, Chris Smith and Brandon Rapone. The team will join Cynthia Shelton and Kane Morris-Webster as part of Colliers International Central Florida’s retail investment team, focusing on the sale of retail investment properties in Central Florida.

September 11, 2015

Retail Washington Western

Colliers International Arranges Sale of Three Washington Retail Centers for $59.6M

by Nellie Day September 10, 2015

SEATTLE — Seattle-based Colliers International has arranged the sale of three Washington retail properties for $59.6 million. Transactions include the sale of Surprise Lake Square, a 134,795-square-foot shopping center located in Milton, to Tourmaline Capital for $19.5 Million; the sale of Everett Village Center, a 120,912-square-foot retail center located in Everett, to Stockbridge Capital Group for $22.5 million; and the sale of Coal Creek Marketplace, a 55,875-square-foot retail center located in Newcastle, to RPAI for $17.6 million.

September 10, 2015

California Loans Retail Western

NYL REI Originates $35M Loan for the Center at Rancho Niguel

by Nellie Day September 10, 2015

LAGUNA NIGUEL, CALIF. — New York Life Real Estate Investors (NYL REI) has originated a $35 million mortgage loan for The Center at Rancho Niguel, located at 28281 Crown Valley Parkway in Laguna Niguel. The loan has a 20-year term with an opportunity to borrow additional proceeds in the first 10 years of the loan. The borrower was Buie Stoddard Group, an institutional investor. Tenants at the 120,000-square-foot retail property include Wells Fargo, Ralphs Fresh Fare, Jamba Juice, Loehmann’s Shoes, Thomasville Furniture, NY’s Upper Crust Pizza, El Pollo Loco and Precision Fitness.

September 10, 2015

Michigan Midwest Office Retail

NAI Wisinski Brokers Two Leases in Michigan Totaling 4,552 SF

by Amy Works September 10, 2015

SPRING LAKE AND GRAND RAPIDS, MICH. — NAI Wisinksi of West Michigan has brokered two leases totaling 4,552 square feet in Michigan. In the first transaction, Kevin B. Megley leased 1,452 square feet of office space at 723 E. Savidge St. in Spring Lake. Megley is relocating his law office to the space. Jason Makowski and Tim Platt of NAI Wisinski represented both the lessee and lessor in the five-year lease transaction. In the second deal, Craft Retail Inc. leased 3,100 square feet of retail space at 678 Front St. SW in Grand Rapids. The United Kingdom-based company plans to use the space to expand its operations. Mary Anne Wisinski of NAI Wisinski represented the tenant, while Makowski represented the undisclosed landlord in the five-year lease transaction.

September 10, 2015

New York Northeast Office Retail

Cushman & Wakefield Arranges 99-Year Net Lease for 511 Fifth Avenue

by Amy Works September 10, 2015

NEW YORK CITY — A partnership between Jeff Sutton and Aurora Capital has entered into a 99-year triple net lease for 511 Fifth Avenue, a 160,000-square-foot Class A building on the southeast corner of 43rd Street in Midtown Manhattan. The 17-story building serves as the New York headquarters for Israel Discount Bank and offers 20,000 square feet of retail space. The partnership will operate the property during the lease term, as well as undertake renovations and assume responsibility for leasing. Bruce Mosler, David Green, Louis Wolfowitz, Peyton Horn, Josh Kuriloff and Nat Rockett of Cushman & Wakefield represented the building’s owner, a group of family trusts, in the transaction. Raymond Sanseverino and Richard Nardi of Loeb & Loeb LLP provided legal representation for the owners, while Chris Smith and Lisa Brill of Shearman & Sterling represented the lessee.

September 10, 2015

Newer Posts

Older Posts

Upcoming Events

Aug
18