Retail

Swire Properties Reveals Tenant List for Brickell City Centre’s Shopping Center

by John Nelson January 20, 2016

MIAMI — Swire Properties Inc., along with retail co-developers Whitman Family Development and Simon Property Group, has revealed the tenant list for Brickell City Centre’s 500,000-square-foot, open-air shopping center under construction in Miami’s Brickell district. The nearly 40 tenants joining the open-air center include Armani Collezioni, Intermix, REISS, SportsAction, Kendra Scott, Nars, American Harvest, Luke’s Lobster, AT&T and Westime. Swire Properties is incorporating a Miami Metromover stop that exits directly into the shopping center’s third floor. Brickell City Centre’s two condo towers, two office towers and EAST, MIAMI hotel are set for delivery in 2016, prior to the shopping center’s opening.

January 20, 2016

Retail South Carolina Southeast

DNA Partners Purchases Shopping Center in Greenville

by John Nelson January 20, 2016

GREENVILLE, S.C. — DNA Partners has purchased The Gallery, a 142,000-square-foot retail center located on Haywood Road in Greenville. The Gallery is leased to Gabe’s and Conn’s and features a Chick-fil-A at its entrance. DNA Partners plans to add outdoor seating and update the landscaping of the center’s courtyard. The firm is also planning to redesign the center’s side building to accommodate active outdoor lifestyle tenants.

January 20, 2016

Midwest Retail Wisconsin

IPA Brokers $16.3M Sale of 162,905 SF Retail Property in Wisconsin

by Christina Cannon January 20, 2016

ONALASKA, WIS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of a 162,905-square-foot shopping center for $16.3 million. Crossing Meadows is located at 1260 Crossing Meadow Drive in Onalaska. Crossing Meadows is anchored by Festival Foods, which leases 57 percent of the retail center. Festival Foods has five years remaining on a 15-year lease. Crossing Meadows is shadow anchored by Sam’s Club and Gander Mountain. Other major tenants include Hancock Fabrics, Rogan’s Shoes and Party City. The shopping center is currently 89 percent leased. Erin Patton, Craig Fuller and Scott Wiles of IPA represented the seller in the transaction, an Ohio-based company. The trio also procured the buyer, a local developer.

January 20, 2016

Kansas Midwest Retail

Viking Partners Acquires Shopping Center in Kansas City Suburb for $8.5M

by Christina Cannon January 20, 2016

OVERLAND PARK, KAN. — Viking Partners Fund III LLC has acquired an 80,047-square-foot shopping center for $8.5 million. Overland Pointe Marketplace is located in Overland Park, an affluent southwestern suburb of Kansas City. The shopping center is anchored by Babies “R” Us and Golf Galaxy. Shadow anchor tenants include Sam’s Club, Home Depot and ALDI. The shopping center was 94 percent occupied at the time of sale. The seller in the transaction was undisclosed.

January 20, 2016

California Retail Western

Pacific Retail, Silverpeak Acquire Eastridge Mall in San Jose for Over $200M

by Nellie Day January 19, 2016

SAN JOSE, CALIF. — A partnership between Pacific Retail Capital Partners and Silverpeak Real Estate Partners has acquired Eastridge, a 1.4 million-square-foot super-regional mall located in San Jose, for over $200 million. The two-story enclosed regional mall was purchased in an off-market transaction with General Growth Properties. In 2007, General Growth Properties completed a $140 million expansion and renovation of the mall. Tenants at the center include Round 1 Bowling and Amusement, Barnes & Noble, JC Penney, Macy’s, Sears, Forever 21, Tilly’s, Bath & Body Works, Victoria’s Secret, Chili’s, Red Robin and Olive Garden. H&M is anticipated to open in the fall of 2016. The new owners plan to invest approximately $15 million in renovations to the mall.

January 19, 2016

California Retail Western

CBRE Arranges $85M Sale of Buena Park Regional Mall

by Nellie Day January 19, 2016

BUENA PARK, CALIF. — CBRE Group Inc. has arranged the $85 million sale of Buena Park Downtown, a 535,000-square-foot regional mall. Philip Voorhees of CBRE represented the seller, Coventry Real Estate Advisors, and Timothy Bower and Johnny Choi of CBRE represented the buyer, Newkoa LLC, in the transaction. The mall was 93 percent leased at the time of sale to tenants including DSW, TJ Maxx, Bed Bath & Beyond, 24 Hour Fitness and Metroplex Theaters.

January 19, 2016

California Retail Western

Savills Studley Negotiates $76.3M Sale of Warner Plaza in Woodland Hills

by Nellie Day January 19, 2016

WOODLAND HILLS, CALIF. — Savills Studley has brokered the sale of Warner Plaza, a 115,000-square-foot neighborhood shopping center in Woodland Hills. Plaza International, a private company that owned the asset for 41 years, sold the property to ROIC Warner Plaza LLC, an entity of Retail Opportunity Investment Corp., for $76.3 million. Located at 21841 Ventura Blvd., the property is occupied by Sprouts Farmers Market, Coffee Bean & Tea Leaf, Dickies BBQ and Jerry’s Famous Deli. Bill Bauman and Kyle Miller of Savills Studley arranged the off-market transaction.

January 19, 2016

Mixed-Use Multifamily New York Northeast Retail

Besen & Associates Arranges $3.2M Sale of Mixed-Use Property in Manhattan

by Amy Works January 19, 2016

NEW YORK CITY — Besen & Associates has brokered the sale of a mixed-use property located at 1792 Amsterdam Ave. in the Hamilton Heights neighborhood of Manhattan. The asset sold for $3.2 million, or $350 per square foot. Built in 1980, the 9,315-square-foot property features 13 apartments and 1,050 square feet of retail space. Greg Corbin, Miguel Jauregui and Saadya Notik of Besen & Associates represented the seller and procured the buyer in the transaction.

January 19, 2016

Loans New Jersey Northeast Retail

Weiss Realty Secures $3.2M in Financing for Retail Property in New Jersey

by Amy Works January 19, 2016

FORT LEE, N.J. — Weiss Realty has arranged $3.2 million in financing for an affiliated entity on a retail property in Fort Lee. Located at 2215 Route 4 East, the 1,800-square-foot property features a Starbucks Coffee drive-thru and a Bank of America drive-up kiosk. Jaime Weiss of Weiss Realty secured the financing. William Boylan of Malvern Federal Savings Bank represented the bank, William Fiore of Meyner and Landis represented the borrower, and Joseph Jankowsk of Wiletz, Goldman & Spitzer provided legal counsel to the lender.

January 19, 2016

Walmart International Productivity Chart

Arkansas Retail Southeast

Wal-Mart to Close 269 Stores in the U.S. and Globally

by John Nelson January 19, 2016

BENTONVILLE, ARK. — Bentonville-based Wal-Mart Stores Inc. (NYSE: WMT) is set to close 269 stores in the U.S. and globally. In total, the stores to be shuttered represent less than 1 percent of both global square footage and revenue. Wal-Mart Stores will close 154 locations nationally, including 102 of the company’s smallest format stores, Walmart Express. Click here for a full list of the stores set to close. Walmart intends to focus on strengthening the company’s Supercenters, optimizing Neighborhood Markets, growing e-commerce and expanding pickup services for customers. Also included in the closures are 23 Neighborhood Markets, 12 Supercenters, seven stores in Puerto Rico, six discount centers and four Sam’s Clubs. The company is closing 115 stores internationally, including 60 loss-making stores in Brazil and 55 primarily small, loss-making stores in other Latin American markets. Domestically, Wal-Mart intends to open 50 to 60 Supercenters and 85 to 95 Neighborhood Markets in fiscal 2017. Sam’s Club also intends to open seven to 10 new locations. The financial impact of these closures is estimated to be approximately 20 to 22 cents of diluted earnings per share from continuing operations, with approximately 19 to 20 cents expected to impact the fourth quarter of …

January 19, 2016

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