Retail

Linear Retail Properties Buys Three-Property Retail Portfolio for $57.5M in Massachusetts

by Amy Works June 12, 2015

NORTH ANDOVER AND WALTHAM, MASS. — Burlington, Mass.-based Linear Retail Properties has acquired a three-property retail portfolio, totaling 124,093 square feet, in Massachusetts for $57.5 million. The portfolio includes Eaglewood Shops at 175 Turnpike St. in North Andover, Main Street Marketplace at 1030 Main St. in Waltham and 1036 Main St. in Waltham. Acquired for $34.2 million, the 77,558-square-foot Eaglewood Shops is fully leased to Burtons Grill, Staples, Pier 1 Imports, Jos. A. Bank and Chipotle. The 44,461-square-foot Main Street Marketplace is fully leased and sold for $22.4 million. The adjacent 2,074-square-foot property, 1036 Main Street, was purchased for $850,000. The seller was Ross Hamlin.

June 12, 2015

New Jersey Northeast Retail

Vision Real Estate Partners Acquires New Jersey Retail Center

by Amy Works June 12, 2015

SADDLE BROOK, N.J. — Vision Real Estate Partners has acquired a two-building neighborhood shopping center at 55-75 Mayhill St. in Saddle Brook. Situated on 12 acres, the center is anchored by a 62,000-square-foot A&P supermarket. The site is also approved for an additional 12,000 square feet of retail space. Constructed between 1998 and 2000, the 119,000-square-foot property offers 800 parking spaces and 45,000 square feet of near-term availability. Jose Cruz, Kevin O’Hearn and Robert Borny of HFF represented the undisclosed seller in the transaction. Jon Mikula and Jim Cadranell, also of HFF, secured acquisition financing for the buyer through Oritani Bank.

June 12, 2015

Arizona Retail Western

YAM Properties Acquires Village at Shea Retail Center for $32.5M

by Nellie Day June 12, 2015

PHOENIX — East Village at Shea LLC, a company formed by YAM Properties LLC, has purchased Village at Shea, a 117,025-square-foot retail center located in Scottsdale, for $32.5 million. Michael Hackett and Ryan Schubert, executive managing directors at DTZ, brokered the sale on behalf of the seller, Karlin Scottsdale Shea LLC. Village at Shea, anchored by Harkins Shea 14 Theatre, was 85 percent leased at the time of sale.

June 12, 2015

Retail Texas

M&M Arranges Sale of 51,425 SF Retail Property in South Padre Island

by Haisten Willis June 11, 2015

SOUTH PADRE ISLAND, TEXAS — Marcus & Millichap has arranged the sale of Plaza 410, a 51,425-square-foot retail property located in South Padre Island. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a partnership. Levy also represented the buyer, a private investor. Plaza 410 is located at 410 Padre Blvd. and is 74 percent leased to tenants including Tuesday Morning, Spec’s Family Partners, Tate’s Clothiers, Sisters Trading Co., Jong Mi Park, Subway, Coast to Coast Beachwear and SPI Fellowship Group. The building was constructed in 1985 and sits on a 2.7-acre lot.

June 11, 2015

New York Northeast Retail

CBRE/NE Brokers Sale of River Mall Shopping Center in New York

by Amy Works June 11, 2015

BALDWINSVILLE, N.Y. — CBRE/New England, along with CBRE Syracuse, has brokered the sale of River Mall Shopping Center in Baldwinsville. Phillips Edison & Co. sold the 165,000-square-foot property for an undisclosed price to RMSC Holdings. The property is anchored by Tops Market and fully leased to a roster of national and regional credit tenants. Nat Heald, Bill Moylan, Chris Angelone and Michael Finn of CBRE represented the seller and procured the buyer in the deal.

June 11, 2015

Loans Michigan Midwest Retail

Axilla Capital Secures $3.7M Refinance Loan for Shoppes at Park Place in Michigan

by Amy Works June 11, 2015

SOUTHFIELD, MICH. — Axilla Capital has arranged a $3.7 million loan for the refinancing of Shoppes at Park Place in Southfield. The 10-year loan features three years of interest-only payments and a 30-year amortization schedule. The 18,373-square-foot retail property is 93 percent occupied by several national tenants, including Fuddruckers, Tim Hortons, Subway and Qdoba. Joel Mazur of Axilla Capital originated the transaction and secured the financing for the undisclosed borrower.

June 11, 2015

Loans Midwest Retail Wisconsin

NorthMarq Capital Refinances Two Office Depot/Petco Properties for $6M

by Amy Works June 11, 2015

BROOKFIELD AND GREENFIELD, WIS. — NorthMarq Capital has arranged $6 million in refinancing for two retail properties, both occupied by Office Depot and Petco, in Wisconsin. Totaling 86,274 square feet, the properties are located at 16085-95 W. Bluemound Road in Brookfield and 4940-50 S. 76th St. in Greenfield. Jeff Frankel of NorthMarq’s Chicago office arranged the financing for the undisclosed borrower through NorthMarq’s correspondent relationship with a life insurance company.

June 11, 2015

Illinois Midwest Retail

Quantum Real Estate Advisors Arranges $1.8M Sale of Plainfield Marketplace

by Amy Works June 11, 2015

PLAINFIELD, ILL. — Quantum Real Estate Advisors has arranged the sale of Plainfield Marketplace, a retail building located at 11850 S Route 59 in Plainfield. An Illinois-based private investor acquired the 8,010-square-foot retail center for $1.8 million from a Minnesota-based developer. At the time of sale, the property was 100 percent occupied by Sherwin Williams, Edward Jones, Kumon and EDO Cleaners. Chad Firsel and Daniel Waszak of Quantum were the sole brokers in the transaction.

June 11, 2015

California Retail Western

Shea Properties Signs Tenants for Grocery-Anchored Alhambra Place

by Nellie Day June 11, 2015

Alhambra, Calif. — Shea Properties has signed four new tenants to open at the 140,000-square-foot Alhambra Place located in downtown Alhambra. Tenants include Blaze Fast Fire’d Pizza, The Habit Burger Grill, Bank of the West and Maido, a stationery store. The center broke ground in fall 2014, and will open in summer 2015.

June 11, 2015

Retail Texas

Christian Louboutin To Open First Location in Houston at The Galleria

by Haisten Willis June 10, 2015

HOUSTON — Christian Louboutin will open its first store in Houston at The Galleria in fall 2016. Louboutin is known for its red-soled shoes that have been a staple of women’s footwear for over 20 years. The Galleria location will be the designer’s 19th U.S. store and will carry women’s and men’s shoes, handbags and small leather goods. Louboutin will be located in Galleria I near Neiman Marcus. Simon Property Group recently announced a $30 million complete renovation of The Galleria’s luxury wing to complement the construction of a new flagship Saks Fifth Avenue store slated to open in spring 2016. The redevelopment project will include the addition of 110,000 square feet of new retail space and the creation of a 14,000-square-foot freestanding retail building.

June 10, 2015

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