Retail

Marcus & Millichap Brokers $18.8M Sale of Self Storage Facility in Florida

by John Nelson July 21, 2015

HOLLYWOOD, FLA. — Marcus & Millichap has brokered the $18.8 million sale of Emerald Hills Extra Closet Self Storage, a 1,970-unit self storage facility in Hollywood. The 128,797-square-foot facility sold for roughly $146 per square foot. The property is situated on approximately 7.4 acres at 3090 Sheridan St. near I-95. The sales price is the highest paid for a single self storage property in Florida to date, according to Marcus & Millichap. Constructed in 1991 and expanded in 1998, the Emerald Hills facility has climate-controlled and non-climate controlled units, business records storage, recreational vehicle parking, video surveillance and electronic gate access. Michael Mele and Luke Elliott of Marcus & Millichap’s Tampa office represented the seller and procured the buyer.

July 21, 2015

North Carolina Retail Southeast

Avison Young Brokers $6.3M Sale of Office Depot-Anchored Center in North Carolina

by John Nelson July 21, 2015

HIGH POINT, N.C. — Avison Young has arranged the $6.3 million sale of Eastchester Shopping Center, a 63,306-square-foot shopping center anchored by Office Depot in High Point. The center is located at 274 Eastchester Drive. AJ Belt III and David Duckworth of Avison Young’s Fort Lauderdale, Fla., office represented the seller, MS Eastchester LLC, in the transaction. Verris Capital purchased the property. Tenants of the center include Dollar Tree, Plato’s Closet, Hooters and Dunkin’ Donuts.

July 21, 2015

Illinois Midwest Retail

Baum Realty Brokers Sale of Retail Center for $2.3M in Evanston, Ill.

by Jonathan Mehall July 20, 2015

EVANSTON, ILL. — Baum Realty Group LLC brokered the sale of a multi-tenant retail strip center in Evanston for $2.3 million. The site is located at 3330 Central St. in Evanston, 14 miles north of Chicago. The 3,235-square-foot strip center is divided into three suites and was 100 percent occupied at the time of the purchase. Several tenants include Starbucks, Subway and Kenny the Kleeners. A private out-of-state investor purchased the property. Greg Dietz and Danny Spietz of Baum Realty represented the private seller.

July 20, 2015

Michigan Midwest Retail

Gerdom Realty Brokers Sale of 94,455 SF Grocery-Anchored Center in SE Michigan

by Jonathan Mehall July 20, 2015

FENTON, MICH. — Gerdom Realty & Investment has brokered the sale of a 94,455-square-foot grocery-anchored shopping center north of downtown Fenton in Southeast Michigan. Located on Leroy Street, the property is anchored by VG’s Food Center. Other tenants on the 9.5-acre site include Rent-A-Center and BoRics. Gerdom Realty has been retained to lease the remaining two vacancies in the center, which is currently 83 percent occupied. Tjader Gerdom and Larry Siedell of Gerdom Realty & Investment represented the seller and procured the buyer, a private investment group.

July 20, 2015

Retail Texas

Axis, Newland Arrange Sale of Retail Center in Metro Dallas

by Haisten Willis July 20, 2015

CROSS ROADS, TEXAS — Alex Payne with Axis Realty Group and Everett Newland with Newland Real Estate represented Denton Fireman’s pension fund in the purchase of The Village at Cross Roads, a new 24,000-square-foot, Class A retail center in Cross Roads. Northbridge Management & Consulting, a commercial property management company owned by Axis Realty Group, will manage the asset moving forward.

July 20, 2015

California Retail Western

Retail California Brokers Two Retail Sales Totaling 69,208 SF in Fresno

by Nellie Day July 20, 2015

FRESNO, CALIF. — Retail California, a division of Pearson Realty, has brokered two retail sales totaling 69,208 square feet in Fresno. In the first transaction, Fresno Coin Gallery Jewelry and Loan Inc. acquired a 9,208-square-foot retail space at 1727 E. Gettysburg Ave. from Dean & Arlene Sigle Trust. Michael Kennedy and John Lee of Retail California negotiated the transaction. In the second deal, Ag Land Joint Venture acquired a 60,000-square-foot retail building at 4550 and 4582 N. Blackstone Ave. from Rich Development/Gryphon Capital. Lewis Smith of Retail California, along with Mark Saito of Saito Company, brokered the transaction. The acquisition prices were not released for either sale.

July 20, 2015

California Retail Western

Friars-Riverdale Sells Retail Center in San Diego

by Nellie Day July 20, 2015

SAN DIEGO — Friars-Riverdale Ltd has completed the disposition of Friars-Riverdale Center, a retail center located at 10383-01397 Friars Road in San Diego. Lai Family LP acquired the 32,696-square-foot property for $2.8 million. The property is fully leased to a mix of retail and office tenants. Brian Crepeau and Icela Galaz-Wittkopp of Pacific Coast Commercial represented the seller, while Judy Chou Hsieh of Greater Realty Inc. represented the buyer in the transaction. Renee Marshall of Chicago Title Company provided escrow services, and Ken Cyr, also of Chicago Title Company, provided title services.

July 20, 2015

California Retail Western

College Plaza in Glendale Sells for $6.3M

by Nellie Day July 20, 2015

GLENDALE, CALIF. — College Plaza, a 5,528-square-foot retail building in the Los Angeles submarket of Glendale, has sold to James Hsu for $6.3 million. The building is located at 1500 Canada Blvd. It was built in 2005. Notable tenants include Coffee Bean and Flame Broiler. The buyer was represented by Peggy Chen of Ko Tai Realty. The seller, Hovik Khatchaturian of Turian Properties, was represented by Alex Vasquez of Stevenson Real Estate Services.

July 20, 2015

Florida Retail Southeast

Swire Properties Signs Luxury Retailers Valentino, Chopard to Lease at Brickell City Centre

by John Nelson July 20, 2015

MIAMI — Swire Properties Inc., in partnership with retail co-developers Whitman Family Development and Simon Property Group, has signed two new luxury retailers to join Brickell City Centre’s 500,000-square-foot shopping center. The shopping center, set to open in fall 2016, is part of the $1.05 billion, 5.4 million-square-foot Brickell City Centre master-planned development in downtown Miami. The two new retailers are Valentino, an Italian fashion retailer, and Chopard, a Swiss Watch and jewelry designer. The two new retailers will join announced tenants Saks Fifth Avenue, Quinto La Huella restaurant and rooftop bar, Sugar — located within EAST, Miami Hotel — and luxury theater Cinemex. The condominium, office and hotel components of Brickell City Centre are set to open beginning at the end of 2015.

July 20, 2015

California Retail Western

Ross Dress for Less to Open Five New Locations

by Nellie Day July 20, 2015

DUBLIN, CALIF. — Dublin-based Ross Stores Inc. will open five new Ross Dress for Less locations in Tennessee, Indiana, North Carolina and Illinois. New stores include a location at Thatcher Woods Center, 12 miles northwest of downtown Chicago; a location at Kensington Center in Plainfield, Illinois; a location at Lincolnton Center, 40 miles Northwest of Charlotte, North Carolina; a location at Village Commons in Evansville, Indiana; and a location at The Crossings at Dickson in Dickson, Tennessee. All locations are set to open July 18.

July 20, 2015

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