Retail

HFF Arranges Sale of 140,000 SF Retail Center in New Jersey

by Amy Works August 4, 2015

LIVINGSTON, N.J. — HFF has brokered the sale of Livingston Shopping Center located at 530 W. Mount Pleasant Ave. in Livingston. The two-building, 140,000-square-foot power center is 97 percent leased to six national tenants that include Nordstrom Rack, TJ Maxx, Buy Buy Baby, DSW, Cost Plus World Market and Ulta Beauty. Situated on 20 acres, the property was fully repositioned in 2014. A partnership between KABR Group and G&G Investors sold the property to Kite Realty Group for an undisclosed price. Jose Cruz, Kevin O’Hearn and Michael Oliver of HFF represented the seller in the transaction.

August 4, 2015

Illinois Midwest Retail

J.C. Anderson Inc. Selected to Complete Renovation for DePaul’s University Loop Cafeteria

by Jonathan Mehall August 3, 2015

CHICAGO — J.C. Anderson Inc. has been selected to complete a 9,000-square-foot build-out to DePaul University’s Chartwells Cafeteria on the Loop Campus located at 1 E. Jackson St. Renovations on the 11th floor cafeteria space include an all new dining area, new equipment and food prep stations. Construction is scheduled for completion in September. Nvironment Architecture is providing the architectural services. Katrina Latendorf from DePaul University is coordinating construction management responsibilities.

August 3, 2015

Loans Michigan Midwest Retail

Integra Real Estate Capital secures $5.6M loan for Shopping Center in Wayland, Mich.

by Jonathan Mehall August 3, 2015

WAYLAND, MICH. — Integra Real Estate Capital has secured a $5.6 million acquisition loan for Chambers Corners, a neighborhood shopping center located at Reno Drive off Highway 131 in Wayland, approximately 21 miles south of Grand Rapids. Meyer Perlman of Integra Real Estate Capital negotiated the 10-year, non-recourse loan provided by an undisclosed lender. Built in 2000, the 99,600-square-foot Chambers Corners is anchored by Harding’s Market and Family Dollar.

August 3, 2015

California Loans Retail Western

NorthMarq Capital Arranges $10M Refinance of Livermore Valley Shopping Center

by Nellie Day August 3, 2015

LIVERMORE, CALIF. — NorthMarq Capital has arranged the $10 million refinance of Livermore Valley Shopping Center, a 78,377-square-foot retail property located in Livermore. Dennis Williams of NorthMarq secured the loan, which is structured with a 10-year term and 30-year amortization schedule. Tenants of the center include Dollar Tree, Fitness 19 and O’Reilly Auto Parts.

August 3, 2015

Massachusetts Northeast Retail

Bierbrier Development Sells Montello Plaza in Brockton for $18.7M

by Amy Works August 3, 2015

BROCKTON, MASS. — Bierbrier Development has completed the disposition of Montello Plaza, a freestanding retail property located at the intersection of routes 28 and 37 in Brockton. VEREIT, successor to American Realty Capital, acquired the 64,500-square-foot property for $18.7 million. The property is occupied by Stop & Shop. Frank Giso and David Currie of Choate, Hall & Stewart represented Bierbrier Development. VEREIT handled the transaction on behalf of the entity owner, Cole Credit Property Trust IV Inc. Todd Trombley and Robert Horwath of Marcus & Millichap brokered the transaction.

August 3, 2015

Retail Utah Western

New Starbucks Debuts Near Intermountain Medical Center in Murray

by Nellie Day August 3, 2015

MURRAY, UTAH — A new 5,000-square-foot Starbucks location has debuted in Murray. It is located at 5141 South State St. The building is situated across from Intermountain Medical Center. Wadsworth Development Group developed the center.

August 3, 2015

Retail Southeast Tennessee

Ziff Properties Acquires Shopping Center in Metro Memphis for $7.4M

by John Nelson August 3, 2015

COLLIERVILLE, TENN. — Ziff Properties Inc. has purchased The Shops at Collierville, a 60,000-square-foot retail center located in Collierville, a Memphis suburb, for $7.4 million. The property’s tenant roster includes Starbucks Coffee, Medpost Urgent Care, Back Yard Burgers, Pizza Hut, Baskin Robbins and The UPS Store. Sheldon Griffin of Baker Storey McDonald Properties represented Ziff Properties in the transaction.

August 3, 2015

Florida Retail Southeast

Westwood Financial Corp. Acquires Shopping Center Near Pensacola

by John Nelson August 3, 2015

GULF BREEZE, FLA. — Westwood Financial Corp. (WFC) has purchased Tiger Point Shopping Center, a 147,400-square-foot shopping center located at 3303 and 3371 Gulf Breeze Parkway in Gulf Breeze near Pensacola. WFC purchased the Winn-Dixie-anchored shopping center from Moulton Properties for an undisclosed price. Built in 1984, the retail property was 87 percent leased at the time of sale. WFC plans to construct 9,000 square feet of new retail shop space at Tiger Point. In addition to Winn-Dixie, the shopping center’s tenant roster includes Beall’s, Papa Murphy’s Pizza and The UPS Store. WFC represented itself in the transaction, and Fain Hicks of DTZ represented the seller.

August 3, 2015

Florida Market Reports Retail Southeast Southeast Market Reports

New Developments Coming to Miami’s Top Submarkets Will Satisfy Retail Demand

by John Nelson August 3, 2015

Miami is known for its spicy nightlife and beautiful beaches; but those are not the only things the international city has to offer. As the economy continues to surge, many now consider Miami the third major market within the United States following New York City and Los Angeles. Within the city, the retail market has always been attractive to owners and tenants alike, but over the past three years retail has rocketed to the forefront. One of the major factors of this evolution is Miami’s growth, both in population and in tourism. Between being an international vacation destination, a major cruise port, and the gateway to the Caribbean and Latin America, Miami is constantly growing. The weather and city also attracts growth. The population in Miami now is at 2.66 million and Miami Beach’s hotels reported having occupancy levels at or above 94 percent during President’s Day weekend. With this type of growth, Miami is experiencing strong consumer spending and an increase in demand for retail space. Retail vacancies are at an all-time low while rental rates are breaking records. Currently, Miami is considered to be under-supplied per capita in retail. Over the past few years, Miami has been increasing …

August 3, 2015

Florida Retail Southeast

Calkain Cos. Brokers $1.4M Sale of Wells Fargo Bank Branch in Florida

by John Nelson July 31, 2015

BRADENTON, FLA. — Calkain Cos. has brokered the $1.4 million sale of a single-tenant, 4,186-square-foot Wells Fargo Bank branch in Bradenton, roughly 45 miles south of Tampa. Built more than 35 years ago, the bank is located at 6285 14th St. W. Wells Fargo extended its lease this past April by five years. Stephen Counts and David Sobelman of Calkain Cos. represented the seller, Bersam Development, in the transaction. The property sold for a record low cap rate for a Wells Fargo branch with less than five years remaining on its lease term, according to Calkain Cos.

July 31, 2015

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