Retail

M&M Arranges Sale of Net Leased Property in Metro Austin

by Haisten Willis May 11, 2015

GEORGETOWN, TEXAS — Marcus & Millichap has arranged the sale of a 14,490-square-foot, net-leased Walgreens property located in Georgetown. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. An outside agent represented the buyer who acquired the asset through a 1031 exchange. Walgreens is located at 3204 Williams Drive, one mile west of I-35. Built in 2002, the asset is situated on 2.15 acres north of Austin. At the time of listing, more than 12 years remained on the initial 15-year lease term.

May 11, 2015

Baker Katz, Lovett Commercial Arranges Sale of Retail Property in Houston

by Haisten Willis May 11, 2015

HOUSTON — Houston-based Baker Katz, in collaboration with Lovett Commercial, has completed the sale of a 13,013-square-foot retail property in Houston. The building, currently occupied by a CVS Pharmacy, rests on over one acre located at 15411 Wallisville Road on the Northwest corner of Wallisville and Beltway 8. Nearby tenants include Walmart, Lowe’s and Buffalo Wild Wings. Baker Katz and Lovett Commercial originally purchased the property in 2007.

May 11, 2015

Midwest Ohio Retail

M&M Arranges $1.2M Sale of Self Storage Property in Canal Winchester, Ohio

by Danielle Everson May 11, 2015

CANAL WINCHESTER, OHIO — Marcus & Millichap has arranged the $1.2 million sale of Ebright Self Storage, a 37,200-square-foot self-storage property located in Canal Winchester. The property is located at 5207 Ebright Road. Brett Hatcher of Marcus & Millichap’s Columbus office represented the seller and the buyer, both limited liability companies.

May 11, 2015

Midwest Retail Wisconsin

Lee & Associates Arranges Lease for Anytime Fitness in Oconomowoc, Wis.

by Danielle Everson May 11, 2015

OCONOMOWOC, WIS. — Lee & Associates represented Anytime Fitness in the signing of a 5,880-square-foot lease at Summit Center Marketplace in Oconomowoc. Chris Etmanczyk of Lee & Associates Madison represented Anytime Fitness in the transaction. The new lease will fully occupy the shopping center. Anytime Fitness plans to open in August.

May 11, 2015

Georgia Retail Southeast

Blanchard Real Estate to Develop Kroger-Anchored Power Center in Metro Atlanta

by John Nelson May 11, 2015

DAWSONVILLE, GA. — Blanchard Real Estate will develop a Kroger-anchored power center in Dawsonville, part of the Atlanta MSA. The Kroger Marketplace store will span 123,000 square feet and feature a fuel center. Blanchard has also secured commitments from national retail tenants totaling roughly 200,000 square feet. The new power center is located adjacent to the North Georgia Premium Outlets, which attracts roughly 7.5 million visitors annually. Blanchard is slated to break ground on the shopping center late this summer.

May 11, 2015

Georgia Retail Southeast

HFF Brokers $20.2M Sale of Shopping Center in Columbus, Ga.

by John Nelson May 11, 2015

COLUMBUS, GA. — HFF has brokered the $20.2 million sale of Bradley Park Crossing, a 116,768-square-foot retail power center located at 1591 Bradley Park Drive in Columbus, roughly 100 miles south of downtown Atlanta. The property’s tenant roster includes The Fresh Market, PetSmart, Michael’s and Hibbett Sports. Jim Hamilton, Richard Reid and Mike Allison of HFF represented the seller, DDR Corp., in the transaction. The Rosen Group purchased the asset free and clear of existing debt.

May 11, 2015

New Hampshire Northeast Retail

Curatolo Seabrook Buys Mini Storage Facility in New Hampshire

by Amy Works May 11, 2015

SEABROOK, N.H. — Curatolo Seabrook LLC has acquired Seacoast Mini Storage in Seabrook, a suburb of Portsmouth. The Marilyn T. Imke Revocable Trust sold the property for $5.8 million. Located at 233 Route 107, the 63,754-square-foot property has 55,270 square feet of rental storage space with 583 units, 152 of which are climate-controlled units. Situated on 6.1 acres, the property also includes two apartment units on site. Joseph Mendola of NAI Norwood Group represented the seller and assisted the buyer in the transaction.

May 11, 2015

Alabama Market Reports Retail Southeast Southeast Market Reports

Birmingham’s Retail Market Bolstered by New Grocers, Mixed-Use Projects

by John Nelson May 11, 2015

Birmingham’s retail market remained steady in 2014, with approximately 10 percent of the total 24 million square feet available for lease. Birmingham is tracking above national averages relative to new ground-up and rehab projects that are announced or underway. Downward pressure on rents have challenged developers pro-formas, though the very friendly city and state incentives environment has allowed developers to creatively meet tenants conservative occupancy cost requirements. While the Birmingham metro area is challenged by the threat of major closings by retailers like JC Penney, Sears and Kmart, there is a pipeline of first-to-market national retailers eyeing the growth submarkets, including Highway 280, Hoover/ Riverchase and Trussville. New Grocers Enter Market Trader Joe’s recently unveiled plans to open a 12,600-square-foot store at The Summit shopping center in the second half of 2015. Trader Joe’s provides a destination food option for the market. The Summit is leased and managed by Bayer Properties. Arizona-based Sprouts Farmers Market recently announced it would be entering the Birmingham metro as well. Sprouts’ first local offering will be at Brook Highland Plaza on U.S. 280. The 22,457-square-foot store will serve an array of fresh produce and meats. Additionally, GBT Realty is developing a 25,000-square-foot Sprouts location …

May 11, 2015

Mixed-Use Retail Texas

Signorelli Co. Breaks Ground on Valley Ranch Town Center in The Woodlands

by Haisten Willis May 8, 2015

THE WOODLANDS, TEXAS — The Signorelli Co. has broken ground on Valley Ranch Town Center, a 240-acre retail district slated to open in early 2016 inside the 1,400-acre master-planned community of Valley Ranch. Valley Ranch is situated at the intersection of U.S. 59 and the Grand Parkway just north of Kingwood. A 135-acre park called The Grove will border the retail district. Other developments in Valley Ranch include construction of new homes in a variety of price ranges in the new Azalea District, along with several new parks and green spaces throughout the area. At completion, Valley Ranch will include 2,500 homes and townhomes and 1,000 multifamily residences. Valley Ranch Commerce District, a 70-acre corporate office park, and Valley Ranch Medical District, planned to include two acute-care hospitals and a medical village with shopping, dining and multi-family residential, are also slated for development in the future. Valley Ranch is located near Bush Intercontinental Airport, Houston’s Central Business District, The Galleria/Uptown, The Woodlands, and ExxonMobil’s new 385-acre campus in Spring.

May 8, 2015

Midwest Ohio Retail

Institutional Property Advisors Arranges Sale of Ohio Shopping Center for $19.9M

by Danielle Everson May 8, 2015

SPRINGFIELD, OHIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $19.9 million sale of Springfield Commons, a 207,497-square-foot shopping center in Springfield. Lori Schneider of IPA represented the seller, a private investor. American Realty Capital Properties Inc. facilitated the acquisition on behalf of Cole Credit Property Trust IV Inc. Michael Glass of Marcus & Millichap’s Cleveland office is the firm’s broker of record in Ohio. Built in 1995 on 26.5 acres, the asset is located on Springfield’s main retail corridor at 1501 Bechtle Ave. with frontage on Bechtle Avenue, State Route 68 and State Route 41. Tenants at the shopping center include Lowe’s, Best Buy, PetSmart, Aaron’s, Planet Fitness and Mattress Firm.

May 8, 2015

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