Retail

DTZ Arranges $32.5M Sale of Jackson Square in California

by Nellie Day August 25, 2015

HAYWARD, CALIF. — DTZ has arranged the $32.5 million sale of Jackson Square, a 114,220-square-foot retail center located in Hayward in the San Francisco Bay area. ROIC California LLC, a subsidiary of Retail Opportunity Investments Corp., acquired the center. Dan Wald, Eric Kathrein and Justin Sharp of DTZ represented the seller, Terramar Retail Centers LLC, in the transaction. Safeway, CVS/pharmacy and 24 Hour Fitness anchor the center, with a tenant roster including Starbucks Coffee, Chase Bank, Round Table Pizza and Patelco Credit Union.

August 25, 2015

California Retail Western

La Costa Towne Center to Undergo $15M Renovation and Renaming

by Nellie Day August 25, 2015

CARLSBAD, CALIF. — Linwood Ventures’ La Costa Towne Center, a 123,000-square-foot shopping center located in Carlsbad, is undergoing a $15 million renovation and will be renamed The Beacon La Costa. Beginning in fall, changes will include a complete renovation of the anchor building, façade enhancements and upgrades to the project’s parking and common areas including new parklets and outdoor dining terraces. Equinox will occupy the 31,000-square-foot anchor space once occupied by Vons grocery store.

August 25, 2015

California Retail Western

Sycamore Terrace Shopping Center in San Diego Changes Hands

by Nellie Day August 25, 2015

SAN DIEGO — U.S. Property Trust has acquired Sycamore Terrace, a 10,578-square-foot shopping center in the San Diego submarket of Vista, for an undisclosed sum. The center is located at 320 Sycamore Ave. It is anchored by Target. Other notable tenants at Sycamore Terrace include Panda Express, Sprint, Pacific Dental and the U.S. Army, among others. CBRE brokered the sale.

August 25, 2015

Nevada Retail Western

DTZ Arranges $19.7 Million Sale of Cheyenne Point in Las Vegas

by Nellie Day August 25, 2015

LAS VEGAS — DTZ has arranged the $19.7 million sale of Cheyenne Point Shopping Center, a 93,901-square-foot center located in Las Vegas. Ryan Schubert and Michael Hackett of DTZ represented the seller, an entity formed by Sarofim Realty Advisors, in the transaction. Calabasas, Calif.-based Medford Capital LLC acquired the property. Tenants at the center include anchor Mariana’s Supermarket, Dollar Tree, Gen X Clothing, Rainbow, CiCi’s Pizza, T-Mobile, Taco Bell and Subway.

August 25, 2015

California Retail Western

Marcus & Millichap Arranges $14.8M Sale of National City Plaza

by Nellie Day August 25, 2015

NATIONAL CITY, CALIF. — Marcus & Millichap has arranged the $14.87 million sale of National City Plaza, an 84,230-square-foot, grocery-anchored center located in National City just south of San Diego. Matt LoPiccolo of Marcus & Millichap represented the seller and procured the buyer in the transaction. Tenants include Diego Valley Public Charter, Dollar Tree and Wrigley’s Supermarket.

August 25, 2015

Nevada Retail Western

DTZ Arranges $15 Million Sale of Alamosa Plaza in Las Vegas

by Nellie Day August 24, 2015

LAS VEGAS — DTZ has arranged the $15 million sale of Alamosa Plaza, a 77,650-square-foot shopping center located in Las Vegas. Ryan Schubert and Michael Hackett of DTZ represented the seller, Pan Pacific (Alamosa) LLC, in the transaction. RPM Investments Inc. purchased the center, which was 90.5 percent leased at the time of sale to eight tenants including anchor Albertsons. Dan Adamson of Las Vegas-based ROI Commercial Real Estate assisted DTZ during the transaction.

August 24, 2015

Arizona Retail Western

Primestor Begins Major Renovation of Palm Glen Shopping Center

by Nellie Day August 24, 2015

PHOENIX — Primestor Development has begun major renovations at Palm Glen Shopping Center, a 177,754-square-foot shopping center anchored by Food City and Wells Fargo in Phoenix. Renovations will include remodeling the façade of the entire center; renovating interiors, site work and anchor spaces; the application of a new contemporary design; a new branding campaign; and increased lighting, landscaping, tower elements, site amenities and signage. The renovation will be completed in the fourth quarter of 2015. Tenants at the center include Dollar Tree, Aaron Rents, Little Caesar’s Pizza, Modlo Dance Hall, Liberty Tax and Title Max.

August 24, 2015

California Retail Western

Faris Lee Investments Arranges $13M Sale of Tyler Village

by Nellie Day August 24, 2015

RIVERSIDE, CALIF. — Faris Lee Investments has arranged the $13 million sale of Tyler Village, a 91,498-square-foot neighborhood retail center located in Riverside. Donald MacLellan and Chris Tramontano of Faris Lee represented the seller, a private investor from Northern California, as well as the buyer, a private investment partnership from Southern California, in the transaction. The center was 78 percent occupied at the time of sale.

August 24, 2015

Retail Washington Western

Sun Commercial Real Estate Arranges $7M Sale of Walgreens Property

by Nellie Day August 24, 2015

BELLINGHAM, WASH. — Sun Commercial Real Estate Inc. has arranged the $7 million sale of a 15,120-square-foot single tenant Walgreens located in Bellingham. Cathy Jones, Paul Miachika, Jessica Cegavske, Roy Fritz and Riley Foley of Sun Commercial Real Estate Inc. represented the buyer, Howe Family LP, and Kevin Shelburn of Pegasus Investments represented the seller, KMD Bellingham LLC, in the transaction.

August 24, 2015

Hospitality Massachusetts Mixed-Use Multifamily Northeast Office Retail

DivcoWest Acquires NorthPoint Development Site from Canyon Partners Real Estate

by Amy Works August 24, 2015

CAMBRIDGE, SOMERVILLE AND BOSTON, MASS. — DivcoWest has acquired a 42-acre master-planned development site known as NorthPoint from Canyon Partners Real Estate for an undisclosed price. The site is located across the Charles River from downtown Boston and spans the cities of Boston, Cambridge and Somerville. Located adjacent to two MBTA lines, the transit-oriented site is fully entitled for the development of approximately 4.5 million gross square feet, including 2.4 million gross square feet of residential space and 2.1 million square feet of commercial product. When complete, the project will feature a mix of residential, commercial office, retail, hospitality and life sciences uses surrounding a central park. JLL and DLA Piper represented the seller, while Goulston & Storrs represented the buyer in the transaction. Canyon originally purchased the property in 2010 through its Canyon-Johnson Urban Funds with its development partner, The HYM Investment Group.

August 24, 2015

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