Retail

SRS Real Estate Brokers Three Leases at Gateway in Metro Atlanta

by John Nelson July 27, 2015

SANDY SPRINGS, GA. — SRS Real Estate Partners (SRS) has brokered three new leases at Gateway, a 21-acre, 121,071-square-foot mixed-use development in Sandy Springs, a suburb of Atlanta. The development project, owned by Core Property Capital, consists of 630 apartment units, a 20,000-square-foot office component and 100,000 square feet of retail space. New stores will include a 1,530-square-foot Buttermilk Sky Pie Shop, an 850-square-foot Kale Me Crazy and a 2,765-square-foot flagship BLAST fitness studio. Adrienne Crawford and Lily Heimburger of SRS represented Core Property Capital in all three transactions. Steve Shuler of Shuler Properties LLC represented Buttermilk Sky Pie Shop, Shaun Weinstock of Weinstock Realty & Development represented Kale Me Crazy and Jenna Schulten of Richard Bowers & Co. represented BLAST Fitness.

July 27, 2015

Midwest Nebraska Retail

Namdar Realty Group Acquires 340,000 SF Mall in Hastings, Neb.

by Jonathan Mehall July 24, 2015

HASTINGS, NEB. — Namdar Realty Group has purchased Imperial Mall in Hastings. The purchase price was not disclosed, but The Grand Island Independent, a local newspaper, reports the property sold for $1.05 million. A Kmart and Herberger’s anchor the 340,000-square-foot retail center. Napoli’s restaurant is also located at the mall. All the tenants at Imperial Mall have short-term leases, according to Namdar Realty. Imperial Mall is situated directly across from Hastings Municipal Airport off West 12th St. Namdar Realty will seek regional and national tenants to stabilize the center. The property was put up for auction on June 1 with a starting bid of $750,000 and was sold through the online auction platform of auction.com. Joel Gorjian represented Namdar Realty in the transaction.

July 24, 2015

Loans New Jersey Northeast Retail

CBRE Secures $7.7M Refinance Loan for Retail Center in New Jersey

by Amy Works July 24, 2015

MONROE TOWNSHIP, N.J. — CBRE Group has arranged $7.7 million in first mortgage refinancing secured by Monroe Town Center in Monroe Township. Located at the intersection of Applegarth and Prospect Plains roads, the 32,205-square-foot retail center is anchored by Wawa. James Gunning, Donna Falzarano and Evan Kleppe of CBRE’s Capital Markets Debt & Structured Finance team arranged the financing for the borrower, Monroe Center Associates LLC. The financing is a CMBS loan with a 10-year term from UBS Real Estate Securities Inc.

July 24, 2015

Loans New York Northeast Retail

EagleBridge Capital Arranges $6M Loan for Brooklyn Retail Property

by Amy Works July 24, 2015

NEW YORK CITY — EagleBridge Capital has arranged $6 million in permanent mortgage financing for a retail building located at 7821 Third Ave. in Brooklyn. Rite Aid Pharmacy and Tutor Time occupy the 19,200-square-foot property. Brian Sheehan and Ted Sidel of EagleBridge secured the financing provided by a leading financial institution.

July 24, 2015

Retail Texas

Transwestern Represents Mod Pizza in Opening of Five Houston Area Locations

by Haisten Willis July 24, 2015

HOUSTON — Transwestern has represented MOD Pizza in five leases totaling 13,662 square feet for new locations in the Houston area. Grant Walker and Chris Reyes of Transwestern served as advisors for MOD Pizza in the Houston market, and represented the retailer in the transactions. MOD will be operating over 100 stores across the U.S. by the end of 2015, with plans to open more than 30 additional locations in Houston within the next four to five years. MOD Pizza’s newest Houston locations include 3,175 square feet at 19820 Southwest Freeway in Sugar Land, 2,797 square feet at 5777 San Felipe St. in Houston, 2,744 square feet at 2682 Pearland Parkway in Pearland, 2,446 square feet at 10123 Louetta Road in Houston and 2,500 square feet at 14555 Memorial Drive in Houston.

July 24, 2015

California Retail Western

Phillips Edison & Co. Acquires Central Valley Marketplace

by Nellie Day July 24, 2015

CERES, CALIF. — Phillips Edison & Co. has acquired Central Valley Marketplace, an 81,897-square-foot shopping center in Ceres. A 59,809-square-foot Food 4 Less anchors the center. Additional tenants include Starbucks Coffee, GameStop, H & A Wireless, Panda Express, Round Table Pizza, Wingstop, Bel Air Nails and Subway.

July 24, 2015

Alabama Retail Southeast

Rouse Properties to Redevelop Bel Air Mall in Mobile

by John Nelson July 24, 2015

MOBILE, ALA. — New York-based Rouse Properties Inc. has unveiled plans for a redevelopment of Bel Air Mall, a 1.3 million-square-foot regional mall in Mobile. Once complete, the renovated property will be known as The Shoppes at Bel Air. Renovations will include the redevelopment of the enclosed mall space into a streetscape with retail and high-volume restaurant concepts fronting on Airport Boulevard, as well as an interior cosmetic revamp, improved lighting, interior landscaping, soft seating and high-end finishes and amenities. Rouse recently inked a lease with Belk Inc. to open a new 237,000-square-foot flagship store, which will take the place of an existing Sears location. Construction on the new store is slated to begin in January 2016 with completion slated for that fall. Other tenants to join The Shoppes at Bel Air include a P.F. Chang’s and Grimaldi’s Pizza, which will open 6,000-square-foot and 3,500-square-foot locations, respectively, on the newly designed streetscape.

July 24, 2015

Florida Retail Southeast

Walmart Neighborhood Market Opens New Location in Florida

by John Nelson July 24, 2015

WELLINGTON, FLA. — Walmart Neighborhood Market has opened a new 45,000-square-foot store at 4105 State Road 7 in Wellington, a city in Palm Beach County. In addition to groceries, the store provides health and beauty aids, pet products and cleaning supplies. The new store employs roughly 95 full- and part-time associates.

July 24, 2015

Retail Texas

InvenTrust Purchases Highlands of Flower Mound in Metro Dallas for $45.8M

by Haisten Willis July 23, 2015

FLOWER MOUND, TEXAS — InvenTrust Properties Corp. has acquired The Highlands of Flower Mound a 169,447-square-foot shopping center located in Flower Mound, for $45.8 million. Highlands of Flower Mound is 96 percent occupied, with 60 percent of its roster comprising original tenants. The center is shadow anchored by a Super Target and is leased to Bed Bath and Beyond, Cost Plus World Market, Stein Mart, Pier 1, Famous Footwear and Party City. InvenTrust became a self-managed REIT in 2014. The company owns 108 multi-tenant retail properties, comprising 15.5 million square feet of retail space in 24 states.

July 23, 2015

Retail Texas

Boxer Property to Expand Boxer Workstyle in Houston

by Haisten Willis July 23, 2015

HOUSTON — Boxer Property is expanding Boxer Workstyle to Houston’s Galleria area as property renovations begin at Cotter Voss Tower at 2323 S. Voss Road, a six-story office building spanning 78,522 square feet. Interior and exterior renovations will be done to the Galleria-area office property to establish streamlined finishes and new amenities to the property. The first floor will be renovated to include Boxer Workstyle collaborative suites, which provide small businesses access to a variety of shared amenities including guest Wi-Fi access, a coffee bar, open lounge space and conference rooms. Boxer Workstyle is configured to meet the needs of small businesses that enjoy meeting in a collaborative environment with the privacy of their own small office. The new Workstyle space is approximately 11,000 square feet and brings Boxer Workstyle to 15 Houston area locations and more than 500,000 total square feet of Workstyle-designed space.

July 23, 2015

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