Retail

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M&M Arranges Sale of 48,229 SF Retail Property in Metro Houston

by Haisten Willis February 22, 2016

LA PORTE, TEXAS — Marcus & Millichap has arranged the sale of Fairporte Green Shopping Center, a 48,229-square-foot retail property located in La Porte. Jerry Goldstein of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a partnership in Washington D.C. It was sold to a 1031 exchange buyer from Southern California who assumed an existing CMBS loan. The property is 80 percent occupied and features national medical tenants including U.S. HealthWorks and Fresenius as well as a freestanding Burger King. Its physical address is located at 1309 Fairmont Parkway in La Porte.

February 22, 2016

Miami Worldcenter’s Owners Unveil Plans for High Street Retail Component

by John Nelson February 22, 2016

MIAMI — Miami Worldcenter Associates, in collaboration with The Forbes Co. and Taubman, has unveiled plans for the high street retail promenade and plaza at Miami Worldcenter, a $2 billion, 27-acre mixed-use development located in Miami. The retail component will feature a pedestrian-oriented, open-air streetscape surrounded by residential towers, a hotel and exposition center and a variety of dining and entertainment options. The retail promenade will run from northeast 10th Street to northeast 7th Street, and will be located near a large open-air public plaza set to be developed on 1st Avenue. This plaza will be surrounded by shops and restaurants, and will create a central gathering place and outdoor event space within the complex.

February 22, 2016

Georgia Loans Retail Southeast

BMC Capital Arranges $1M Refinance of McDonald’s, Verizon Property in Metro Atlanta

by John Nelson February 22, 2016

WOODSTOCK, GA. — BMC Capital has arranged a $1 million cash-out refinance of a McDonald’s and Verizon Wireless store in Woodstock, a northern suburb of Atlanta. Brian Gramlich of BMC Capital’s Dallas office arranged the five-year loan through an unnamed bank of behalf of the borrower. The loan was structured with a fixed 3.63 percent interest rate and a 25-year amortization schedule.

February 22, 2016

Midwest Ohio Retail

Cooper Commercial Brokers $1.9M Sale of 16,820 SF Retail Center in Northeast Ohio

by Christina Cannon February 22, 2016

ASHTABULA, OHIO — The Cooper Commercial Investment Group has brokered the $1.9 million sale of a 16,820-square-foot retail center in Ashtabula, approximately 60 miles northeast of Cleveland. A Cleveland-based private investor sold AT&T Plaza to a Kansas buyer. Tenants at the shopping center include AT&T, Springleaf Financial, Best Cuts and Cashland. Dan Cooper of Cooper Commercial represented the seller in the transaction.

February 22, 2016

Midwest Minnesota Retail

Oppidan Investment Co. Sells 118,627 SF Shopping Center in Minneapolis

by Christina Cannon February 19, 2016

MINNEAPOLIS — Oppidan Investment Co. has sold the White Bear Marketplace in Minneapolis for an undisclosed price. Oppidan developed the 118,627-square-foot shopping center on a site previously occupied by Kmart. Cub Foods, Planet Fitness, Northern Tool and Starbucks co-anchor the newly constructed retail center. Jim Leary and Jeff Budish of CBRE represented Oppidan Investment Co. in the transaction. The buyer was a regional private investor.

February 19, 2016

Winco-foods-Carrolton-trinity-valley-shopping-center

Retail Texas

WinCo Foods to Open Anchor Store at Trinity Valley Shopping Center in Metro Dallas

by Haisten Willis February 19, 2016

CARROLLTON, TEXAS — WinCo Foods plans to develop an 82,077-square-foot anchor store at Trinity Valley Shopping Center located at the northeast corner of the President George Bush Turnpike and Josey Lane in Carrollton. The new WinCo will be developed at the site of a former Target, which closed in January 2015. Josey Trinity Mills Ltd. acquired the building in October. The site will be demolished in April, and the new WinCo is scheduled to open in early 2017. The project’s leasing team, Matt Luedtke and Steve Gray with The Weitzman Group, along with Cencor Realty Services’ Randy Stebbins and Joe Lea, worked on behalf of the center’s ownership to negotiate the acquisition of the vacant Target and bring in WinCo for the new anchor store. DWC Commercial and Venture Commercial represented the grocer. Trinity Valley Shopping Center opened in the 1970s and remains a retail destination in the trade area. The center incorporates nearly 300,000 square feet of retail space leased to Ulta Beauty, Ross Dress for Less, rue21, Petco, Chili’s, Lane Bryant and Dress Barn. Stebbins will direct the development of the new anchor store on behalf of the center’s ownership. Cencor’s Kathy Detrick is managing the construction of …

February 19, 2016

Good-Union-Urban-BBQ-Cityline-Richardson-Texas

Restaurant Retail Texas

Good Union Urban BBQ Opens First Location at CityLine in Richardson

by Haisten Willis February 19, 2016

RICHARDSON, TEXAS — Good Union Urban BBQ has opened its first location at CityLine, a 186-acre mixed-use project located in the Dallas suburb of Richardson. The restaurant is located on the street level of One CityLine at 1150 State Street, and serves Texas barbecue favorites like USDA prime brisket, pork, sausage, ham, turkey and ribs. Patio seating is available facing the central plaza of the development, allowing guests to enjoy live music and events planned by CityLine. Other recent openings at the development include Nestle Toll House Café by Chip, Top Pot Doughnuts & Coffee, Red Mango, Starbucks Coffee and Tom+Chee. Whole Foods Market, Bite City Grill, Coal Vines, Edoko Sushi and Robata, Fernando’s, Jasper’s and Tricky Fish are scheduled to open at the CityLine later this year.

February 19, 2016

Nevada Retail Western

Wynn Las Vegas to Develop Wynn Plaza Retail Center

by Nellie Day February 19, 2016

LAS VEGAS — Wynn Las Vegas is set to develop Wynn Plaza, a 75,518-square-foot luxury retail complex set to augment the existing retail collection at Wynn Las Vegas and Encore on Las Vegas Boulevard. The design of Wynn Plaza will be influenced by European elements, specifically the Avenue Matignon in Paris. The two-story center will feature two entrances off the Strip, a dedicated valet service, atriums and a skylight rotunda. Steve Wynn, chairman and CEO of Wynn Resorts, designed the project in collaboration with Roger Thomas, executive vice president of Architecture DeRuyter Butler, and Wynn Design and Development. The project is set for completion in 2017.

February 19, 2016

California Loans Multifamily Nevada Retail Western

Ready Capital Closes Three Loans Totaling $15.9M in California, Nevada

by Nellie Day February 19, 2016

LOS ANGELES AND LAS VEGAS — Ready Capital Structured Finance has closed three loans throughout California and Nevada for a total of $15.9 million. Properties that received financing include a 24-unit multifamily community in Beverly Hills that will use the funds for renovation and stabilization; a 499-unit self-storage facility in Corona that will use the funds for refinancing and stabilization; and a 32,800-square-foot retail center in Las Vegas that will use the funds for the development and stabilization of the property.

February 19, 2016

Florida Retail Southeast

Franklin Street Brokers $9M Sale of Shopping Center in Metro Miami

by John Nelson February 19, 2016

HOMESTEAD, FLA. — Franklin Street has brokered the $9 million sale of Dixie Center, a grocery-anchored shopping center located at 30200-30394 Old Dixie Highway in Homestead, a city in Miami-Dade County. Built in 1985, the shopping center was 93 percent leased at the time of sale to tenants such as Winn-Dixie and Family Dollar. The sale includes three outparcels totaling 2.7 acres. The buyer, a private investor from Canada, financed the acquisition with a CMBS loan, which was sourced by FM Capital. Pete Crane, Greg Matus and Robert Granda of Franklin Street represented the seller, Palm Beach Gardens, Fla.-based Noble Properties. Franklin Street’s Insurance Services team arranged insurance for the buyer, which has retained Franklin Street to lease and manage the shopping center.

February 19, 2016

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