Retail

HFF Arranges Sale of Retail Center in Houston

by Haisten Willis May 5, 2015

HOUSTON — HFF has arranged the sale of Pines of Louetta North, a 71,090-square-foot retail strip center in northern Houston. HFF arranged the sale of the property on behalf of the seller, Pines of Louetta North. Built in stages from 2009 to 2014, Pines of Louetta North is comprised of three buildings that are 92 percent leased to national and regional tenants including Spec’s Wine, Spirits & Finer Foods, Dickey’s Barbecue Pit, Chipotle Mexican Grill, Schlotzsky’s and Salata. Located at 1600-1620 Louetta Road, the property is just west of I-45. The property is 26 miles north of downtown Houston. Ryan West Matt Berry and Robbie Kilcrease led the HFF investment sales team representing the seller.

May 5, 2015

Construction Begins on 10,800 SF Retail Building in Lockport, Ill.

by Danielle Everson May 5, 2015

LOCKPORT, ILL. — Construction has begun on a 10,800-square-foot retail building at the 77-acre Lockport Square Shopping Center in Lockport. The property is located at the intersection of I-355 and 159th Street (IL Hwy 7). The multitenant retail building is located on a 1.3-acre site fronting 159th Street, providing high visibility for the property’s retail tenants. Construction will be completed by early fall. Leases have been signed with Mattress Firm (3,500 square feet) and Sport Clips (1,600 square feet). Lease negotiations are underway with a third tenant for an additional 1,600 square feet. The remaining 4,100 square feet at the project is expected to be leased within 12 months. Janko Group, GMX Real Estate Group and Purinton Development are the co-developers of Lockport Square Shopping Center. The construction team includes JTS Architects, RTM Applied Engineering and Boulder Contractors. MidAmerica Real Estate and Metro Commercial Real Estate are the leasing brokers for the shopping center.

May 5, 2015

Midwest Ohio Retail

M&M Brokers $1.4M Sale of 6,832 SF Retail Property in Hilliard, Ohio

by Danielle Everson May 5, 2015

HILLIARD, OHIO — Marcus & Millichap has brokered the $1.4 million sale of Main Street Station, a 6,832-square-foot retail property located in Hilliard. The property is located at 3854-3870 Main St. and was sold to an undisclosed buyer. The center is occupied by four local franchisees. John Reehil of Marcus & Millichap’s Columbus office represented the seller, a limited liability company.

May 5, 2015

Midwest Retail Wisconsin

Lee & Associates Arranges Lease of 48,734 SF Retail Space in New Berlin, Wis.

by Danielle Everson May 5, 2015

MADISON, WIS. — Lee & Associates has arranged the lease of a 48,734-square-foot retail space at Moorland Commons in New Berlin. Dunham’s Sporting Goods will occupy the space formerly occupied by Sportsman’s Warehouse. Other tenants at the shopping center include Target, Michaels and Office Max. Steve Doran of Lee & Associates Madison represented the landlord in the transaction. Galway Cos. Inc. manages the property.

May 5, 2015

Northeast Pennsylvania Retail

CBRE Brokers Sale of 628-Unit Self-Storage Facility in Pennsylvania

by Amy Works May 5, 2015

WILLOW GROVE, PA. — CBRE has brokered the sale of Willow Grove Self Storage, a self-storage facility located in Willow Grove. Metro Storage LLC purchased the 628-unit facility for an undisclosed price. Built in 2005, the 92,250-square-foot property features six single-story non-climate controlled buildings and three fully climate-controlled buildings. Michael Howard, Steve Marzullo and Justin Marlowe of CBRE represented the undisclosed seller in the transaction.

May 5, 2015

Florida Retail Southeast

EDENS Acquires Whole Foods Market at Met 3 in Downtown Miami

by John Nelson May 5, 2015

MIAMI — EDENS has purchased the Whole Foods Market at Met 3, part of the Metropolitan Miami development in downtown Miami, for an undisclosed price. The property currently has 400 residential units under construction on top of the grocery store. EDENS, a shopping center developer, owner and operator based in Columbia, S.C., owns and operates 11 other retail centers in Miami, including Fifth & Alton in South Beach. “Whole Foods has seen record-breaking traffic and sales since it opened, catering to the cosmopolitan Miami spirit,” says Jami Passer, managing director at EDENS. “We are excited to be investing in downtown Miami and be a part of the emerging urban vitality.”

May 5, 2015

Illinois Midwest Retail

Baum Realty Group Brokers $16.6M Sale of Five Retail Properties in Chicago MSA

by Danielle Everson May 4, 2015

CHICAGO — Baum Realty Group has brokered the $16.6 million sale of five retail properties totaling 81,606 square feet in the Chicago area. The properties include: 1422 – 1426 N. Milwaukee Ave., a mixed-use redevelopment in the Bucktown / Wicker Park neighborhood that sold for $4.2 million; 701 – 749 N. Milwaukee Ave., a fully leased retail strip center anchored by the Westin North Shore Hotel in Wheeling that sold for $4.9 million; 4700 N. Kimball Ave., an OREO multitenant retail strip center adjacent to the Kimball Brown Line ‘L’ Station that sold for $2.3 million; 847 N. Larrabee St., a development parcel in the River North neighborhood that sold for $4.1 million; and 1312 – 14 N. Clybourn Ave. and 1321 N. Larrabee St. located within the North and Clybourn Corridor that sold for $1.1 million Greg Dietz and Danny Spitz of Baum Realty Group’s Investment Sales Team represented the five separate private sellers in transactions.

May 4, 2015

Midwest Ohio Retail

M&M Arranges Sale of Advanced Auto Parts in Lorain, Ohio

by Danielle Everson May 4, 2015

LORAIN, OHIO — Marcus & Millichap has brokered the $1.2 million sale of Advance Auto Parts, a 7,000-square-foot, net-leased property in Lorain. Advance Auto Parts is located at 2025 Broadway. The property was built in 2004 as a build-to-suit for Advance Auto Parts. Dustin Javitch, Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap’s Cleveland office represented the seller, a limited liability company. The property was sold to an unnamed publically-traded REIT.

May 4, 2015

California Retail Western

Shoe Palace Signs on at Primestor’s Azalea Regional Shopping Center in Los Angeles

by Nellie Day May 4, 2015

LOS ANGELES – Shoe Palace has leased 3,500 square feet of space at Azalea Regional Shopping Center in the Los Angeles submarket of South Gate. The center is located at 4827 Firestone Blvd. It is owned by Primestor Development. Shoe Palace is a Northern California-based casual and athletic shoe retailer.

May 4, 2015

Georgia Restaurant Retail Southeast

FCA Partners Announces Development Plans for Buckhead Exchange in Atlanta

by John Nelson May 4, 2015

ATLANTA — Charlotte-based FCA Partners has announced the redevelopment plans for Buckhead Exchange, a 48,500-square-foot retail center located at Peachtree Road and Grandview Avenue in Atlanta’s Buckhead neighborhood. The plans call for the shopping center to be transformed into a pedestrian-friendly retail and dining development. A portion of the center will be demolished to make way for a paseo that will connect the east-facing storefronts with those facing Peachtree Road and Grandview Avenue. Demolition is scheduled to begin this month and be completed in phases by early 2016. New tenants slated to open at Buckhead Exchange include Storico Fresco Alimentari Ristorante e Mercato and YEAH! BURGER. Formerly a division of Faison Enterprises, FCA Partners has invested more than $600 million in equity on behalf of institutional capital since the mid-1990s. FCA Partners acquired Buckhead Exchange in 2013 from Principal Financial for $15.2 million.

May 4, 2015

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