Retail

DTZ Arranges $13.7M Sale of Pioneer Shopping Center

by Nellie Day August 10, 2015

YUMA, ARIZ. — DTZ has arranged the $13.7 million sale of Pioneer Shopping Center, a 140,610-square-foot shopping center located in Yuma. Ryan Schubert, Michael Hackett, Dan Salley and Jack Wilson of DTZ represented the seller, Realty Resolution Advisors LLC, and Sanford Burstyn of Marcus & Millichap represented the buyer, Los Angeles-based Pioneer Shopping Center LLC, in the transaction. Tenants at the center include 99 Cents Only, O’Reilly Auto Parts, Applebee’s, Subway, The UPS Store and Dairy Queen.

August 10, 2015

Midwest Restaurant Retail Wisconsin

Noble Chef Hospitality Opens First Restaurant in Milwaukee at 833 East

by Jonathan Mehall August 7, 2015

MILWAUKEE — Madison-based Noble Chef Hospitality will open its first Milwaukee restaurant, Rare Steakhouse, in Milwaukee’s newest downtown office building, located at 833 E. Michigan St. The white tablecloth steak and seafood restaurant will feature dry-aged Allen Brothers steaks along with more than 400 different wines. Noble Chef Hospitality also operates Rare Steakhouse On the Square in Madison, in addition to four other restaurants and bars in Madison. The 18-floor, 833 East building is expected to be completed by February 2016. Rare is expected to open in early 2016 and will feature seasonal outdoor seating. Josh Minkin of Alpine Commercial Real Estate is serving as procuring broker on the project.

August 7, 2015

Illinois Midwest Retail

Quantum Real Estate Advisors Brokers $1.08M Sale of 10,650 SF Retail Building in North Aurora, Ill.

by Jonathan Mehall August 7, 2015

NORTH AURORA, ILL. — Quantum Real Estate Advisors has brokered the $1.08 million sale of a 10,650-square-foot retail building located at 451-459 Randall Crossings Lane in North Aurora, about 40 miles west of Chicago. The multi-tenant building is 74 percent occupied by regional tenants Bulldog Ale House and Lover’s Lane. Chad Firsel of Quantum Real Estate Advisors brokered the transaction on behalf of the seller, a pension fund from Dallas, and the buyer, a private real estate investor based in Chicago.

August 7, 2015

Retail Texas

New Tenants Sign on at Castle Hills Village Shops in Metro Dallas

by Haisten Willis August 7, 2015

LEWISVILLE, TEXAS — New tenants have signed on at Castle Hills Village Shops, part of the master-planned Castle Hills community in Lewisville. FroYo Smoo-licious recently opened a 1,026-square-foot store in the Village Shops. Long-time tenant Umi Umi sushi restaurant has moved to a larger space within the shops, adding a hibachi grill to the menu. Re-opening as Kanzi Sushi & Hibachi, the new 2,561-square-foot space added 1,200 square feet to the restaurant, plus a porch for outdoor dining that overlooks Lake Avalon. Kerry Assa of Bright Realty represented the landlord, Bright Realty, in both transactions. Kevin Park, of Coldwell Banker, represented Kanzi Sushi & Hibachi in its upgrade. Sean Conner, who opened PI.E 3.14 Everyday Eatery pizza kitchen in Castle Hills, is opening a second restaurant in the Village Shops. T.B.D. Kitchen is a chef-driven taco concept with craft cocktails that will occupy 1,779 square feet. Conner’s PI.E 3.14, with local chef Brent Hammer, also added more than 200 square feet to its space at the shops. Hammer will also oversee the menu at T.B.D. Kitchen. Assa represented the landlord in these transactions. Al Panigua with Swearingen Realty Group represented the tenant.

August 7, 2015

Retail Texas

Shop Cos. Arranges Sale of Retail Properties in Metro Dallas

by Haisten Willis August 7, 2015

DALLAS — SHOP Cos. Investment Sales has arranged the sale of three retail properties in metro Dallas totaling 47,476 square feet. Tommy Tucker and Tim Axilrod of SHOP Cos. represented three different sellers in each transaction. The sales included: Custer Plaza, a 29,152-square-foot retail center located in Frisco. At the time of closing, the property was 100 percent leased to tenants including Texas Family Fitness, Subway, Rosatti’s, Asiana Biztro, Life Changing Chiropractic and Serene Dentistry. SHOP Cos. represented the seller, a Dallas-based limited partnership. SHOP Cos. also procured the buyer, a private investor from metro Dallas; Ridgeview Village, a 16,474-square-foot shopping center located in Allen on Watters Road off of its intersection with Highway 121. The property was 100 percent leased to tenants including The Brass Tap, The Cryo Center of Allen, Max Muscle, Nail Trends, Laser Beauty Medical Spa, Shaiwase Japanese Restaurant and S J Lee Taekwondo. SHOP Cos. represented the seller, a Texas limited liability company, and procured the unnamed buyer; Starbucks, a new-construction 1,850-square-foot restaurant as a pad to a new Kroger Marketplace in Granbury. Starbucks signed a 10-year lease and sits along the frontage of U.S. Hwy 377 and FM 4/Acton Highway.

August 7, 2015

Multifamily New York Northeast Retail

Silvershore Properties Sells 10-Building Portfolio for $39.4M

by Amy Works August 7, 2015

NEW YORK CITY — Silvershore Properties has completed the disposition of a 10-building portfolio of walk-up residential buildings in Brooklyn and Queens. Related Cos. acquired the portfolio for $39.4 million. Totaling 66,500 square feet, the portfolio features 76 residential units and two stores. The portfolio includes seven Brooklyn buildings in Greenpoint, Clinton Hill, Carroll Gardens, Prospect Heights, and three properties in Queens in Long Island City and Astoria. Aaron Jungreis of Rosewood Realty Group represented the buyer, while Devin Cohen of Rosewood Realty represented the seller in the transaction.

August 7, 2015

Mixed-Use Multifamily New Jersey Northeast Retail

CBRE Arranges Sale of Former Elizabeth General Hospital in New Jersey

by Amy Works August 7, 2015

ELIZABETH, N.J. — CBRE Group has arranged the sale of the former Elizabeth General Hospital site in Elizabeth for an undisclosed price. Situated on five acres, the 350,000-square-foot vacant facility has been on the market for approximately 10 years, since Trinitas relocated the hospital to a new facility. The site also includes a 500-car parking structure. The private, out-of-state buyer plans to redevelop the site into a multifamily and retail complex. Charles Berger, Mark Silverman, Elli Klapper and Gil Medina of CBRE represented the undisclosed seller and the buyer in the transaction.

August 7, 2015

New York Northeast Retail

Eastern Consolidated Arranges $9.7M Sale of Retail Condo in Greenwich Village

by Amy Works August 7, 2015

NEW YORK CITY — Eastern Consolidated has arranged the sale of a retail condominium located at 205 Bleecker St., also known as 1 Minetta St., in Greenwich Village. At more than 6,000 square feet, the corner site sold for $9.7 million. Max Hakim of Eastern Consolidated represented the seller, Forest Hills Property Group, while Evan Street, also of Eastern, represented the buyers, Infinity Real Estate and Seven Equities, in the transaction.

August 7, 2015

California Retail Western

Retail California Brokers Two Retail Property Sales in Porterville

by Nellie Day August 7, 2015

PORTERVILLE, CALIF. — Retail California, a division of Pearson Realty, has arranged two retail property sales in Porterville. The Stapleton Group sold two properties to Sage Investco Wood LLC for an undisclosed sum. The properties are a 2,400-square-foot retail building at 1132 W. Henderson Ave. and a 3,091-square-foot retail building at 1150 W. Henderson Ave. In both transactions, Nick Frechou of Retail California represented the buyer, while John Hale and Jason Alexander of Colliers International represented the seller.

August 7, 2015

Industrial Market Reports Office Retail Texas Texas Market Reports

Dynamic, Fast Growth Comes to the Four-County Area of ‘Rio South Texas’

by Haisten Willis August 7, 2015

It’s safe to say that the Rio Grande Valley, now also referred to as Rio South Texas, is one of the most dynamic and fastest growing regions in the state. The four-county region at the southernmost tip of Texas bordering Mexico and hugging the Gulf of Mexico consists of Hidalgo, Cameron, Starr and Willacy counties. With nine ports of entry, five international airports, a first-class deep water port, a population of over 1.2 million and three interstates, it is easy to see why the Rio Grande Valley is one of the largest trade corridors in the world. Growth in all aspects, including retail, office, medical, education, industrial and housing, brought nearly $700 million in construction permits for all of 2014. Retail Sales tax revenue being sent back to the cities continues to increase at a healthy pace. Walmart’s opening of 12 new stores in the region affirms the positive growth and the confidence in the valley. The impact a Super Walmart has is evident with a city’s sales tax revenue. Two new stores in Donna and Elsa increased local sales tax revenue 14 percent and 57 percent, respectively. Retail sales in the region continue to rise, showing the strength of …

August 7, 2015

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