Retail

Courtyard at Countryside Kohl's Clearwater

North American Development Buys Retail Center in Clearwater for $25.5M

by John Nelson December 1, 2015

CLEARWATER, FLA. — An affiliate of North American Development Group has purchased Courtyard at Countryside, a retail center located at 2514-2532 State Road 580 in Clearwater, for $25.5 million. The center was fully leased at the time of sale to tenants such as Kohl’s, Total Wine & More, Panera Bread, EverBank, Salon Lofts, Sport Clips and Tijuana Flats. The center is directly across from Westfield Countryside, a 1.3 million-square-foot mall anchored by Dillard’s, Macy’s, JC Penney, Sears and Whole Foods Market. Michael Milano and Ron Schultz of Colliers International’s Tampa Bay office represented the seller, Skylark Plaza LLC, which developed the property in 2008.

December 1, 2015

Midwest Retail Wisconsin

Siegel-Gallagher Arranges 1,019 SF Retail Lease Near Milwaukee

by Christina Cannon December 1, 2015

DELAFIELD, WIS. — Siegel-Gallagher has arranged a 1,019-square-foot retail lease in Delafield, approximately 30 miles west of Milwaukee. Delafield Hair and Friends LLC is leasing the space in Delafield Properties II from Ace Delafield Properties LLC. The property is located at 715 Genesee St. Devin Tessmer of Siegel-Gallagher brokered the transaction.

December 1, 2015

California Retail Western

JV Acquires Portion of Temecula Town Center for $60M

by Nellie Day November 30, 2015

TEMECULA, CALIF. — A joint venture of Citivest Commercial Investments LLC and Ares Management has acquired a major portion of Temecula Town Center, a 241,980-square-foot shopping center is located at 27540 Ynez Road, in a transaction valued at $60 million. The seller was BACM 2006-5 Rancho California LP. The acquired portion of the 241,980-square-foot center includes CVS/pharmacy, Home Goods, 24 Hour Fitness Sport Club, Chase Bank and Active, among others. Built in 1989, the center is currently 85 percent occupied. Michelle Schierberl and Donald Ellis of Colliers International represented the seller in the transaction.

November 30, 2015

California Retail Western

Colliers Retail Foresight Brokers 1,550 SF Bakery Lease in Pico Rivera

by Nellie Day November 30, 2015

PICO RIVERA, CALIF. — Colliers Retail Foresight has brokered a lease for retail space in Pico Rivera. La Monarca Bakery will occupy 1,550 square feet at Rosemead and Mines in Pico Rivera. James Rodriguez and Michael Bohorquez of Colliers Retail Foresight represented the undisclosed landlord in the transaction.

November 30, 2015

Connecticut Loans Northeast Retail

Cronheim Mortgage Secures $19M Loan for 215,000 SF Shopping Mall

by Amy Works November 30, 2015

TRUMBULL, CONN. — Cronheim Mortgage has secured a $19 million loan for Hawley Lane Mall, a 215,000-square-foot shopping mall in Trumbull. The 15-year loan, which features a 30-year amortization schedule, was funded by the United States Life Insurance Co. and National Union Fire Insurance Co. In 2005, Purchase, N.Y.-based National Realty and Development Corp. redeveloped the property, which was built in 1971, into a two-level community shopping center. The center is anchored by Kohl’s, HomeGoods and Best Buy. Andrew Stewart and Dev Morris of Cronheim Mortgage arranged the financing for the borrower.

November 30, 2015

New Jersey Northeast Retail

Marcus & Millichap Arranges $1.9M Sale of 8,250 SF Retail Property in New Jersey

by Amy Works November 30, 2015

BRANCHBURG, N.J. — Marcus & Millichap has brokered the sale of Branchburg Plaza, a retail property located at 1010 U.S. Route 202 in Branchburg. A 1031 exchange buyer acquired the 8,250-square-foot strip center for $1.9 million. Robert Angus and Michael Lombardi of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction.

November 30, 2015

Connecticut Northeast Retail

Angel Commercial Negotiates $1M Sale of Retail Property in Connecticut

by Amy Works November 30, 2015

MILFORD, CONN. — Angel Commercial LLC has arranged the sale of a retail investment property located at 773 Bridgeport Ave. in Milford. Private investors acquired the 4,800-square-foot building from H&S Olson LLC for $1 million. The current tenant, PPG Paints, will remain in the property. Jon Angel of Angel Commercial represented the seller in the transaction.

November 30, 2015

North Carolina Retail Southeast

Yale Realty Services Buys Shopping Center in North Carolina for $14.5M

by John Nelson November 30, 2015

WAYNESVILLE, N.C. — Yale Realty Services Corp. has purchased Waynesville Commons, a 126,901-square-foot shopping center in Waynesville, roughly 30 miles west of Asheville. Yale Realty purchased the center from CBL & Associates Properties Inc. for $14.5 million. Built in 2012, the shopping center’s tenant roster includes Belk, Michaels, PetSmart, Rack Room Shoes, SuperClips and US Cellular. Waynesville Commons is shadow-anchored by a 188,494-square-foot Walmart Supercenter. Alex Quarrier and Marc Ozburn of Berkeley Capital Advisors represented the seller in the transaction.

November 30, 2015

Retail Southeast Tennessee

Next Realty LLC Acquires 64,000 SF Retail Property in Metro Nashville

by John Nelson November 30, 2015

FRANKLIN, TENN. — An affiliate of Next Realty LLC has acquired a 64,000-square-foot, two-tenant retail property at 1735 Galleria Blvd. in Franklin, roughly 15 miles south of Nashville. The property is situated within the 350,000-square-foot Cool Springs Crossing shopping center, which is located adjacent to the 1.1 million-square-foot Cool Springs Galleria mall. H.H. Gregg occupies 29,596 square feet at the property, and JumpStreet, an indoor trampoline park, occupies 34,404 square feet at the former Whole Foods Market location.

November 30, 2015

Illinois Midwest Retail

Faris Lee Investments Brokers $7.1M Sale of Retail Property in Palatine, Illinois

by Christina Cannon November 30, 2015

PALATINE, ILL. — Faris Lee Investments has brokered the $7.1 million sale of an 11,800-square-foot retail property. The Shops at Deer Grove is fully occupied and located on 1.5 acres in Palatine, approximately 30 miles northwest of Chicago. Tenants in the center include Starbucks Coffee, Menchie’s Frozen Yogurt, Pie Five Pizza, AT&T, Jersey Mike’s Subs and Chipotle Mexican Grill. Matthew Mousavi and Patrick Luther of Faris Lee Investments represented both parties in the transaction. The seller was an Illinois-based private developer and the buyer was a Wisconsin-based private investor.

November 30, 2015

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