Retail

H&M to Open at Westfield World Trade Center in Lower Manhattan

by Amy Works December 3, 2015

NEW YORK CITY — H&M, a global fashion retailer, is opening its first location in Lower Manhattan. Situated within Westfield World Trade Center, the 25,000-square-foot store is slated to open in spring 2016. This location will be the first store in the United States to apply for LEED certification. The interior of the store will operate on renewable power sources, use less energy than a conventional office building, utilize LED lighting and Energy Star equipment and implement a recycling program throughout the store. The Westfield World Trade Center location is H&M’s 18th store in New York City.

December 3, 2015

Loans New York Northeast Retail

Houlihan-Parnes Realtors Secures $3.5M Loan for 10,000 SF Retail Building in Manhattan

by Amy Works December 3, 2015

NEW YORK CITY — Houlihan-Parnes Realtors has arranged a $3.5 million first mortgage loan for the refinancing of a 10,000-square-foot retail building located at 172-178 Dyckman St. within Manhattan’s Inwood district. The seven-year, non-recourse loan features a 3.75 percent fixed interest rate with interest-only payments for two years and a 30-year amortization schedule. Additionally, the undisclosed borrower has an option to extend the loan for an additional five years. Bryan Houlihan and Mike O’Neill of Houlihan-Parnes Realtors secured the loan for the borrower. Christie Houlihan of Zukerman Gore Brandeis & Crossman LLP provided legal counsel for the borrower.

December 3, 2015

Illinois Midwest Retail

Baum Realty Group Arranges $3.4M Sale of Net-Leased Retail Property Near Chicago

by Christina Cannon December 3, 2015

CICERO, ILL. — Baum Realty Group LLC has arranged the $3.4 million sale of a retail property net-leased to Planet Fitness in metro Chicago. The property is located at 2300 S. Cicero Ave. in Cicero, a western suburb of Chicago. The fitness center is situated on 1.3 acres and includes 110 parking spaces. The building was renovated in 2010. Planet Fitness still has more than 10 years remaining on its lease with rental increases every five years. Brad Teitelbaum and Patrick Forkin of Baum Realty represented the seller in the transaction, a private local investor. The buyer was a private West Coast investor.

December 3, 2015

Connecticut Northeast Retail

Bass Pro Shops Opens First Connecticut Location in Steelpointe Harbor

by Amy Works December 2, 2015

BRIDGEPORT, CONN. — Bass Pro Shops has opened its first Connecticut location at Steelpointe Harbor, a 2 million-square-foot mixed-use property in Bridgeport. The 150,000-square-foot store features Uncle Buck’s Fish Bowl and Grill restaurant; Black Widow Billiards parlor with two tournament pool tables; a 12-lane bowling alley; an archery range; and an aquarium. Steelpointe Harbor, a 50-acre, $750 million project, is being developed by Bridgeport Landing Development, a subsidiary of The RCI Group.

December 2, 2015

Nevada Retail Western

GK Development Inc. Acquires Lake Mead Crossing for $42.75M

by Nellie Day December 2, 2015

HENDERSON, NEV. — GK Development Inc. has acquired Lake Mead Crossing, a 407,000-square-foot shopping center located in Henderson, for $42.8 million. The center is approximately 85 percent leased to tenants including Target, Ross Dress for Less, Big Lots, PetSmart, Marshalls, Ulta Beauty and Staples. Las Vegas-based Juliet Realty LLC will manage and lease the shopping center. Eastdil Secured represented the seller, Lake Mead Crossing LLC, in the transaction. Nevada State Bank and Wintrust Community Bank provided financing.

December 2, 2015

California Retail Western

Pita’s Mediterranean Grill Leases Restaurant Space at San Marcos Civic Center Plaza

by Nellie Day December 2, 2015

SAN MARCOS, CALIF. — Halimeh Hamideh has leased 1,142 square feet of restaurant space at 133 N. Twin Oaks Valley Road in San Marcos. The lessee plans to open a Pita’s Mediterranean Grill at the location within San Marcos Civic Center Plaza. The five-year lease has a $189,166 consideration. Bill Thaxton of Flocke & Avoyer Commercial Real Estate represented the lessor in the transaction. The lessee was self-represented.

December 2, 2015

Midwest Missouri Retail

Sansone Group, AIMS Real Estate Acquire Two Retail Centers in St. Louis Suburb

by Christina Cannon December 2, 2015

SUNSET HILLS, MO. — A joint venture between Sansone Group and AIMS Real Estate has purchased two retail centers in Sunset Hills, a southwestern suburb of St. Louis, for an undisclosed price. The Plaza at Sunset Hills and Shoppes at Sunset Hills are both located at the intersection of South Lindberg Boulevard and Watson Road and total 450,000 square feet. Sansone Group originally developed the properties, which were completed in 1996 and 1997. DDR Corp. purchased the centers in 1998 and recently sold them to the joint venture. Tenants at Plaza at Sunset Hills include Home Depot, Bed Bath & Beyond, Marshalls, Party City, Stein Mart, Old Navy, PetSmart, David’s Bridal, Panera Bread, Chick-fil-A, Five Below and Dobb’s Tire & Auto. Tenants at the Shoppes at Sunset Hills include Toys “R” Us, Ross Dress for Less, The Tile Shop and Longhorn Steakhouse. Sansone Group will manage and lease the centers. AIMS Real Estate is a business unit within Goldman Sachs Asset Management. Both parties were self-represented in the transaction.

December 2, 2015

Market Reports Massachusetts Northeast Northeast Market Reports Retail

Boston’s Battle of the Grocers

by Jaime Lackey December 2, 2015

While demand for all types of retail product has been strong over the past few years, investors continue to have a strong appetite for Boston area grocery-anchored shopping centers in 2015 despite meaningful changes to the food distribution industry. The competitive landscape for traditional supermarkets is evolving as value-oriented grocers such as Market Basket, Walmart, Trader Joe’s, Aldi, and Save-A-Lot lure away price-conscious customers, while service-oriented formats such as Wegmans, Whole Foods and Roche Brothers are expanding and gaining market share with more affluent customers. These chains achieve success by targeting the low- and high-end niches of the market. According to IBISWorld, the online grocery sales industry is projected to increase approximately 9.5 percent annually to become a $9.4 billion industry by 2017. Companies such as Amazon and Walmart are increasing their capabilities for selling food and beverages online, and Ahold’s Peapod service continues to expand in an effort to maintain its position as the leading Internet grocer. The food distribution industry has been further saturated by big-box retailers and national pharmacy chains offering a growing selection of packaged goods and dairy products. These non-traditional grocers and e-commerce providers derive much of their profits from non-food items, allowing them to …

December 2, 2015

Retail Texas

Sands Investment Group Secures Grocery Store Portfolio Sale Totaling $28.6M

by Haisten Willis December 1, 2015

GROVE, JENKS AND BIXBY, OKLA. — Sands Investment Group (SIG), a net lease firm, has arranged the sale of a portfolio of three grocery stores located in Oklahoma, including a Harps in Grove, a Reasor’s in Jenks and a Reasor’s in Bixby. Dan Hoogesteger and Andrew Chana of SIG’s Santa Monica, Calif., office represented the seller in all three transactions to the buyer, Ladder Capital Finance LLC. The triple net sales include the $5.03 million sale of a 31,500-square-foot Harps grocery store located at 1310 S. Main St. in the Harbor Point Shopping Center in Grove. Sold by WHLR-HPA-1 LLC, the Harps transaction was completed at a cap rate of 7.25 percent. The second transaction was the $12.16 million sale of an 81,000-square-foot Reasor’s grocery store located at 446 S. Elm St. in Jenks. Sold by WHLR JENKS LLC, the Reasor’s sale was completed at a cap rate of 7.5 percent. The final deal was the $10.97 million sale of a 74,889-square-foot Reasor’s grocery store located at 11116 S. Memorial Drive in Bixby. Sold by WHLR-BIXBY COMMONS LLC, the Reasor’s sale was completed at a cap rate of 7 percent. All three grocery stores were built in 2012 and have 17 …

December 1, 2015

California Retail Western

Hanley Investment Group Arranges $5.5M Sale of Hemet Plaza in Hemet

by Nellie Day December 1, 2015

HEMET, CALIF. — Hanley Investment Group has arranged the sale of Hemet Plaza, a shopping center located in Hemet east of Los Angeles. A Santa Ana-based private investor acquired the property for $5.5 million, representing a 6.3 percent cap rate. Situated on four acres, the property is occupied by Big Lots, True Value, Farmers Insurance, Jackson Hewitt Tax Services, Rent-A-Center, Metro PCS and U.S. Postal Service. The six-building center, which was built in 1985, was 71 percent occupied at the time of sale. Pat Kent of Hanley Investment Group represented both the seller, a private investor based in Tucson, Ariz., and the buyer in the transaction.

December 1, 2015

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