Retail

Retreat Village St. Simons Island Winn-Dixie

Westwood Financial Corp. Acquires Grocery-Anchored Center in St. Simons Island

by John Nelson May 26, 2015

ST. SIMONS ISLAND, GA. — Westwood Financial Corp. (WFC) has acquired Retreat Village, a 108,600-square-foot grocery-anchored shopping center located at 220 Retreat Village in St. Simons Island. WFC purchased the Winn Dixie-anchored center from Pace Properties LLC and Somera Capital Management LLC for an undisclosed price. The property is currently 97 percent occupied by tenants including H&H Lifestyles, Bonefish Grill, Edwin Watts Golf, AT&T, Great Clips, Subway, Burger King and Verizon Wireless. Richard Reed of HFF represented the sellers in the transaction.

May 26, 2015

Hawaii Retail Western

Burnham USA Buys Shops on the Green in Maui

by Nellie Day May 22, 2015

MAUI, HAWAII — Burnham USA has purchased Shops on the Green, a 6.3-acre shopping center on Maui, for an undisclosed sum. The center is located at 100 Wailea Ike Drive in Wailea. Shops on the Green will soon undergo a renovation and a rebranding. It will be renamed Wailea Village Center. The transaction also includes about 22,000 square feet of retail and office buildings, as well as golf-related facilities. Burnham has also secured entitlements to expand the center for an additional 23,000 square feet of retail, which the firm plans to develop immediately. The project is situated directly across from Grand Wailea Resort, the Four Seasons Resort Maui at Wailea and the new Andaz Maui at Wailea Resort. It sits adjacent to the Marriott Residence Inn. The center includes the main facilities for Wailea’s flagship golf course and club, called Old Blue. The seller, Ronald Allred, is best known as the founder and developer of Telluride Ski Mountain Village in Colorado.

May 22, 2015

Retail Utah Western

New Starbucks Premieres in Utah

by Nellie Day May 22, 2015

DRAPER, UTAH – Wadsworth Development Group has completed a 1,920-square-foot Starbucks in the Salt Lake City submarket of American Fork. The new outpost is located at 496 E. State Road, just north of Orem. Starbucks fully occupies the new space. It was developed by Starbucks Coffee Company.

May 22, 2015

Florida Retail Southeast

Marcus & Millichap Brokers $9.1M Sale of Doral Shopping Center

by John Nelson May 22, 2015

DORAL, FLA. — Marcus & Millichap has brokered the $9.1 million sale of Doral Signature Shops, an 11,110-square-foot retail property located at 11401 N.W. 41st St. in Doral. The property’s tenant roster includes Starbuck’s Coffee, Mercantile Commerce Bank and Graziano’s. Scott Sandelin and Edward Romo of Marcus & Millichap’s Miami office represented the seller, a partnership between local developers Gadinsky Real Estate and Armando Codina. The buyer was a limited liability company based in Miami.

May 22, 2015

Massachusetts Northeast Office Retail

ELV Associates Sells Long Wharf in Boston to Capital Properties for $34M

by Amy Works May 22, 2015

BOSTON — ELV Associates has sold the Long Wharf, a two-building office and retail property in Boston, to Capital Properties for $34 million. Totaling 77,600 square feet, Long Wharf comprises the five-story Custom House Block and the adjacent four-story Gardiner Building. At the time of sale, the property was 98 percent occupied by a variety of tenants, including AECOM and Chart House restaurant. Robert Griffin, Edward Maher, Matt Pullen, Geoffrey Millerd and Justin Smith of Cushman & Wakefield represented the seller in the transaction.

May 22, 2015

Retail Texas

Sperry Van Ness/Visions Commercial Arranges Sale of Retail Center in Metro Dallas

by Haisten Willis May 21, 2015

FORNEY, TEXAS — Bloomfield Frontline Forney Commercial Retail LLC has purchased a retail center located at 104 and 108 E. U.S. Highway 80 in Forney. Bloomfield is a syndication partnership set up by managing partners and promoters Steve Fithian with Sperry Van Ness/Visions Commercial and Thomas Wilson with Wilson Investment Properties. Forney Group Ltd. sold the retail center to Bloomfield for an undisclosed price. Sean Byrne with the Byrne Co. represented the seller, while Fithian represented the buyer. Sperry Van Ness/Visions Commercial will manage the retail center, which is located on 3.5 acres on the westbound U.S. Highway 80 Frontage Road just before Pinson Road (FM 740.) Forney is a suburb 19 miles east of downtown Dallas. Phase I of the retail center was built in 2006 and Phase II was built in 2008. Current tenants include 20/20 Sight, Time Out Sports Café, Merle Norman Cosmetics, Peak Physical Therapy, Angels Care Home Health, My Spa, H&R Block, Conaway Homes and Forney Family Dentistry. According to the Forney Economic Development Corp., Forney is the 15th-fastest growing town in the DFW area and has experienced 225 percent population growth since 2000.

May 21, 2015

Mixed-Use Retail Texas

J. Beard Arranges Sale of Development Tract in Metro Houston

by Haisten Willis May 21, 2015

MAGNOLIA, TEXAS — The J. Beard Real Estate Co. has arranged the acquisition of an 11-acre development tract at the northeast corner of Research Forest Drive and Egypt Lane in Magnolia, a suburb of Houston. Egypt Land Developments purchased the land for mixed-use retail, medical and commercial development.

May 21, 2015

Midwest Retail Wisconsin

ALTUS Commercial Brokers 1,664 SF Lease in Madison, Wis.

by Amy Works May 21, 2015

MADISON, WIS. — ALTUS Commercial Real Estate Inc. has brokered the lease of 1,664 square feet to The Float Factor Inc. at 326 Junction Road in Madison. The Float Factor will open its new location in July. The Float Factor offers a nearly zero-gravity environment in float tanks of Epsom salt water, maintained at skin temperature, and far-infrared saunas, which help to promote healing by reducing stress, improving sleep and energy levels through relaxation and detoxification. Jeff Jansen of ALTUS Commercial represented the tenant in the transaction.

May 21, 2015

Colorado Retail Western

Good Times Burgers & Frozen Custard Completes Sale-Leaseback in Centennial

by Nellie Day May 21, 2015

CENTENNIAL, COLO. – Good Times Burgers & Frozen Custard has completed a sale-leaseback in Centennial. The restaurant is located at 14505 East Arapahoe Road. The asset was purchased by a local individual investor. The seller, Good Times Drive Thru, entered into a new long-term, triple-net lease at closing. Good Times was represented by Drew Isaac of Marcus & Millichap’s Denver office.

May 21, 2015

Mixed-Use Multifamily New Jersey Northeast Retail

HillTop Partners Breaks Ground for Mixed-Use Development in New Jersey

by Amy Works May 21, 2015

IRVINGTON, N.J. — HillTop Partners, a joint venture between Kapwood LLC and Urban Builders Collaborative, has broken ground for the development of The HillTop, a residential and mixed-use development in Irvington. The first phase of the project, slated for completion in late 2017, will include a five-story, 110,000-square-foot residential building comprising 115 market-rate and affordable housing rental units, while additional phases will comprise 700 mixed-use units and 15,000 square feet of commercial and retail space, as well as a preschool and restaurant space. Designed by Perkins Eastman, The HillTop is located on six acres formerly occupied by Irvington General Hospital, which shuttered nearly a decade ago. HillTop Partners acquired the site from the township in 2013.

May 21, 2015

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