Retail

HighStreet Net Lease Group Arranges Sale of Mixed-Use Building in Downtown Houston

by Haisten Willis October 12, 2015

HOUSTON — HighStreet Net Lease Group, a Texas-based company specializing in the sale and acquisition of net leased investment properties, represented a Houston-based investor in the acquisition of a three-story office complex with retail on the ground floor. The 14,400-square-foot mixed-use building is located at 1305 Prairie St. in downtown Houston. Matt Moake of HighStreet represented the buyer. Fred Ghabriel of Bejjani & Associates represented the seller, a local partnership that owned the property for 30 years. The historic building was constructed in 1920 and was once the site of General Sam Houston’s home. The new owner plans to renovate the interior and exterior of the property. The property includes a surface parking lot.

October 12, 2015

Retail Texas

Hunington Properties Arranges Sale-Leaseback of Burger King Restaurant in San Antonio

by Haisten Willis October 12, 2015

SAN ANTONIO — Hunington Properties has arranged the sale-leaseback of a 2,500-square-foot Burger King restaurant located at 7997 Bandera Road in San Antonio. The property is located on the hard corner of Bandera Road and Mainland Drive. The tenant, a franchisee and 30-year veteran of the Burger King system, leased the property back on a long-term, triple net basis. Edward Benton and Todd Carlson with Hunington Properties represented the seller.

October 12, 2015

Loans Midwest Nebraska Retail

Q10 | Daisley Ruff Financial Corp. Arranges $2.5M Refinancing for Retail Center in Lincoln, Neb.

by Christina Cannon October 12, 2015

LINCOLN, NEB. — Q10 | Daisley Ruff Financial Corp. has arranged a $2.5 million refinancing loan for Meadowlane Shopping Center in Lincoln. The property consists of a 34,600-square-foot retail strip center, a 6,000-square-foot freestanding retail building and a 27,389-square-foot mixed-use building. Ace Hardware anchors the strip center. Other tenants of the strip center include Honest Abe’s, Great Wall, The Fit Canine and Slideware Electronics. Subway and One More Bar are the tenants in the freestanding building. Steve Ruff and Eric Petersen of Q10 | Daisley Ruff Financial Corp. arranged the transaction. The long-term, fixed-rate loan is fully amortizing. The lender, borrower and all other details of the transaction were undisclosed.

October 12, 2015

Illinois Midwest Retail

Cooper Commercial Brokers $5.1M Sale of 60,392 SF Retail Facility in Chicago Suburb

by Christina Cannon October 12, 2015

MIDLOTHIAN, ILL. — Cooper Commercial Investment Group has brokered the sale of a 60,392-square-foot retail center located in Midlothian, a suburb 20 miles southwest of downtown Chicago. The multi-tenant Mid Oak Shopping Center sold for $5.1 million. The facility is anchored by Charter Fitness and shadow anchored by Walgreens. Dan Cooper of Cooper Commercial Investment represented the undisclosed seller. The buyer was also undisclosed. Mid Oak Shopping Center was 74 percent occupied at the time of sale.

October 12, 2015

Mixed-Use Multifamily New York Northeast Restaurant Retail

Cushman & Wakefield Brokers $30M Sale of Mixed-Use Property in Manhattan

by Amy Works October 12, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use loft building located at 9 E. 16th St. in the Ladies’ Mile Historic District of Manhattan. The seven-story, elevator-serviced building sold for $30 million, or $978 per square foot. The 30,680-square-foot property features 15 large loft units, of which 12 are fair market and three are rent stabilized, and one ground-floor commercial unit, which is currently occupied by a restaurant. Paul Smadbeck, John Ciraulo, Rob Stufano and Craig Waggner of Cushman & Wakefield brokered the all-cash transaction. The names of the seller and buyer were not released.

October 12, 2015

Florida Retail Southeast

Avison Young Secures JV Partner for Retail Center in Delray Beach

by John Nelson October 12, 2015

DELRAY BEACH, FLA. — On behalf of Tremont Realty Capital, Avison Young has secured a joint venture operating partner for the existing ownership of Delray Square II, a 150,157-square-foot retail center. The new ownership is a joint venture between Tremont and Isram Realty Group. John Crotty and Joshua Ladle of Avison Young secured Isram, which will soon begin to lease up the property. Located at 14530-14590 Military Trail in Delray Beach, the value-add property was 40 percent leased at the time of the arrangement to tenants such as Planet Fitness, H&R Block, Subway and Express Docs Urgent Care. Built in 1987 on a 15.1-acre lot, Delray Square II features 700 parking spaces and is in a position to accommodate big-box tenants.

October 12, 2015

Market Reports Maryland Retail Southeast Southeast Market Reports

Baltimore City’s Retail Market Remains Hot, But Watch Out for the Suburbs

by John Nelson October 12, 2015

An apartment building boom is encouraging a consistent march of new residents to select sections of Baltimore City, and the construction of new retail venues to support this emerging audience has followed in lockstep. The last several years has seen the opening of stylish shopping centers featuring national anchor tenants such as Harris Teeter and Target, including The Shops at Canton Crossing, a 330,000-square-foot retail shopping center situated within the city’s east side, as well as McHenry Row, located in the Locust Point section of the city (next to Under Armour’s headquarters). Other notable retail developments underway in Baltimore City are the capital improvement and re-invention program at Harborplace; The Stadium Square, a $250 million mixed-use project situated near M&T Bank Stadium; the $25 million facelift being given to Lexington Market, a collection of 100 food vendors; the ongoing retail build-out of Harbor East (the recognized “place to be and be seen” spot of the city); and the initiation of construction on Harbor Point, the site of the new Exelon Corp. headquarters (the company merging with Constellation Energy). Baltimore County is Booming Owings Mills, Towson and White Marsh are the sites of four significant projects, several of which have been …

October 12, 2015

Loans Retail Texas

Q10 KDH Arranges Financing for The Centre at Greatwood in Houston

by Haisten Willis October 9, 2015

HOUSTON — Q10 Kinghorn, Driver, Hough & Co.’s Emily Zarcaro and Matt Franke have secured permanent financing for The Centre at Greatwood, a fully occupied, single-story retail center in Sugar Land. Q10 KDH arranged the loan through Symetra on behalf of the undisclosed borrower.

October 9, 2015

Retail Texas

M&M Arranges Sale of 7,843 SF Retail Property in Metro Dallas

by Haisten Willis October 9, 2015

BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of Harwood Oaks, a 7,843-square-foot retail property located in Bedford. Bill G. Jordan of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Jordan also secured the buyer, a partnership. Harwood Oaks is located at 3225 Harwood Road. The 7,843-square-foot strip center is located just off of Highway 121. Harwood Oaks was built in 1985 and all tenants hold triple-net leases. Tenants include Mid-Cities Florist, Kumon, Subway and World Finance.

October 9, 2015

Industrial Market Reports Multifamily Office Retail Texas Texas Market Reports

Port, Diverse Economy Drive Growth in Corpus Christi Real Estate Market

by Haisten Willis October 9, 2015

When people come to Corpus Christi, many of them expect to find a community that has been devastated by the downturn caused by the oversupply of cheap oil and gas. They expect a community with rising unemployment and vacant buildings. Based on the past, they would be correct. However, Corpus Christi and the Coastal Bend have been experiencing a major transformation of their economy, which is now much more diverse. This is partly because of the leadership, hard work and vision of its people, and partly because of good luck caused by the infrastructure that had been put in place by the Port of Corpus Christi. This infrastructure was at the right place at the right time. The Port of Corpus Christi has always been a driving force and major contributor to the economy of Corpus Christi. The port’s leaders knew that if they didn’t make some major changes, they would not remain competitive. The Port of Corpus Christi is the fifth largest port in the U.S. in total tonnage. However, because of the depth of the port channel and the height of the harbor bridge which crosses over the port, the newer, larger ships could not enter the port. …

October 9, 2015

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