ORANGE, CALIF. — Wohl Orange Circle LLC has acquired an 8,000-square-foot shopping center, located at 117 E. Chapman Ave. in Orange, for an undisclosed price. The seller was Parke Family Trust. Scott Hook of Coldwell Banker Commercial Alliance represented the buyer in the transaction.
COSTA MESA, CALIF. — Wohl 124 CM LLC has acquired a retail property located at 124 E. 17th St. in Costa Mesa. A private trust sold the property for an undisclosed price. The 2,340-square-foot property is situated on an 8,760-square-foot parcel. Scott Hood of Coldwell Banker Commercial Alliance handled the transaction.
HANFORD, CALIF. — Little Caesars Pizza inked a deal for 1,150 square feet of retail space at 2597 N. 11th Ave., Suite 102, in Hanford. The landlord is Blackheart Capital LLC. John Lee and Michael Kennedy of Retail California, along with Tailwind Commercial, brokered the transaction.
OAKHURST, CALIF. — The Body Pistache has leased 3,400 square feet of retail space at 40034 Highway 49, Suite A-9 in Oakhurst. The space is located just north of Fresno. The landlord is 41/49 Highway Junction LP. Lee of Retail California, along with Shaw Real Estate, brokered the deal.
HOUSTON — Houston-based Baker Katz has completed a four-acre land acquisition on behalf of Momentum Indoor Climbing. This will be Momentum Indoor Climbing’s first Houston location. The property is located at the intersection of Kingsland Boulevard and Katy Mills Parkway. The 36,000-square-foot facility will feature a rock climbing surface with 50-foot climbing walls, as well as fitness and yoga areas. Ben Brown of Baker Katz represented Momentum Indoor Climbing in the transaction. Simpkins Group’s William Stacy represented the seller. The opening is slated for summer 2016.
COLLEYVILLE, TEXAS — Irving-based Realty Capital Management LLC has sold a 12,000-square-foot mixed-use building located at 16 Village Lane in Colleyville to SC 16 Village Lane Investment LLC. The building is part of a larger 26-acre mixed-use development known as The Village at Colleyville, which was developed by Realty Capital in 2002. The mixed-use building was fully leased to four retail tenants on the first floor and one office tenant on the second floor. The ground floor tenants include Posh Hair Studio, The Lash Lounge, The Lodge Barbershop and Posh Body. The sole second floor tenant is Ztar Mobile. Realty Capital had owned the building since 2004 when the property was originally delivered. Russ Webb and LeAnn Brown with Silver Oak Commercial Realty represented the seller in the transaction. Holt Lunsford and Matt Carthey with Holt Lunsford Commercial represented the buyer. The Village at Colleyville is located at Main Street and Highway 26 (Colleyville Boulevard).
NEW YORK CITY — Eastern Consolidated has brokered the sale of a mixed-use, elevator building, located at 49 Greene St. in SoHo. The six-story property sold for $31 million, or $1,240 per square foot. The 25,000-square-foot building features seven apartment units and a 5,500-square-foot vacant retail space. Peter Hauspurg of Eastern Consolidated represented the seller, Les Pieds Nickle’s Inc., while Deborah Gutoff of Eastern and Robert Dankner of Prime Manhattan Residential represented the buyer, EMP Capital, in the transaction.
ROCHESTER HILLS, MICH. — Landmark Investment Sales has brokered the sale of a 13-acre former Kmart. The property is 121,000 square feet and sold for $6.8 million. The space is located at the intersection of Rochester Road and Avon Road in Rochester Hills, which is approximately 30 miles from Detroit.
CORAL SPRINGS, FLA. — Colliers International has brokered the $6 million sale of a 19,077-square-foot, single-tenant retail property in Coral Springs. Constructed in 2005, the freestanding retail building is located at 4151 Turtle Creek Drive. PetSmart currently occupies the property and has 11 years remaining on its lease. Steve Schroeder of Solid Investments represented the Chile-based buyer, Andyara Investments LLC, in the transaction. Jon Busse, Ron Schultz and Mike Milano of Colliers represented the seller, Burlingame Coastal LLC.
The San Diego retail market had another positive quarter, which built on the strength of the local economy. Strong job growth and low unemployment led to positive net absorption and a spike in sales activities. The unemployment rate decreased across the board. San Diego posted a 4.9 percent rate, a post-recession low for overall unemployment. This is the first time San Diego unemployment has been sub-5 percent since the beginning of 2008. Local San Diego retail employment has been steadily increasing by 2.4 percent over the past five years, according to CBRE Econometric Advisors. Annual growth for the next five years, however, is expected to be relatively flat. Despite the lack of space, there have been a few construction deliveries. Most of the current retail construction in San Diego is from mixed-use development and property renovations. Westfield plans to spend $500 million to expand its center at UTC. It will also spend $300 million in Carlsbad where it plans intends to transform an indoor mall into an open-air center. Regional malls are leading the trend, and smaller centers like Flower Hill Promenade and Del Mar Heights Town Center are keeping up with them. One of the most significant signings this …