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.
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.
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.
KENOSHA, WIS. — Faris Lee Investments has brokered the sale of Windsor Pointe, a multi-tenant retail center in Kenosha. San Diego-based Windsor Pointe Investors sold the 13,965-square-foot property for $4.6 million to Connecticut-based REI Advisors. Situated on 2.2 acres at 7201 120th Ave., the property is occupied by Best Buy, Woodman’s Markets and Gander Mountain, as well as other regional and national tenants. Jeff Conover of Faris Lee Investments represented the seller in the transaction. The buyer was self-represented.
RICHMOND, VA. — Wheeler Real Estate Investment Trust Inc. (Wheeler REIT) has purchased Brook Run Shopping Center, a 147,738-square-foot shopping center located in Richmond. Wheeler REIT acquired the asset for roughly $18.5 million from an undisclosed affiliate. Built in 1990, the property was 91.2 percent leased at the time of sale to tenants such as Martin’s Food Market, CVS/pharmacy, Crunch Fitness, Hair Cuttery and H&R Block. Wheeler REIT funded the purchase using proceeds from a recent financing, debt and issuance of operating partnership units.
CORAL SPRINGS, FLA. — Marcus & Millichap has brokered the $9.8 million sale of Sample Row, a 90,552-square-foot retail property located at 7355 W. Sample Road in Coral Springs. Built in 2001, Sample Row comprises three one-story buildings housing home goods stores, medical providers and DaVita Dialysis. Douglas Mandel, Barry Wolfe and Alan Lipsky of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private investor based in Miami Beach. The buyer was a limited liability company based in North Miami.
LOS ANGELES — HFF has completed the sale-leaseback on two separate Haggen Food & Pharmacy portfolios along the West Coast. The portfolios contain a total of 39 grocery stores in Washington, Oregon and California. HFF’s Mark West, Timothy Hall, Bryan Ley, Brandon Chavoya, Coler Yoakam, Michael George and Campbell Black marketed the portfolios on behalf of Haggen. The Washington-based grocery store chain entered into long-term leases with the purchasers. Haggen purchased 146 stores from Albertson’s as part of a $9.4 billion merger between Safeway and AB Acquisition, the owner of Albertson’s. This expansion grows the Haggen Food & Pharmacy portfolio from 18 stores in Washington and Oregon to 164 stores in five Western states. HFF also arranged the floating-rate financing for the 19 properties.
ALABASTER, ALA. — Birmingham-based Merchants Retail Partners has closed the $50 million refinancing of Alabaster Promenade, a Target-anchored shopping center in Alabaster. Located along I-65, the 450,000-square-foot property opened in 2007 and underwent renovations in 2014 to accommodate a new Dick’s Sporting Goods store. The other tenants that will join the shopping center this year include ULTA Beauty and Verizon Wireless. Merchants Retail Partners closed the loan on behalf of its unnamed investment partner.
IRVINE, CALIF. — Hanely Investment Group has negotiated the sales of four shopping centers in Oregon, Florida, Tennessee and Virginia totaling 372,000 square feet for a combined $24 million. Eric Wohl of Hanley Investment Group represented the seller, Cincinnati-based Phillips Edison & Co., in the four transactions. The shopping centers include the 100,762-square-foot Sandy Marketplace in Sandy, Ore.; the 115,198-square-foot Ferry Pass Plaza in Pensacola, Fla.; the 82,088-square-foot Rivergate Square in Madison, Tenn.; and the 73,788-square-foot Cross Pointe Marketplace in Chesterfield, Va. Hanley Investment Group has completed the sale of 11 Phillips Edison properties in eight months and currently has two additional Phillips Edison-owned retail properties in escrow totaling 248,767 square feet.
SAN ANTONIO — Bryan Leonard of NorthMarq Capital’s San Antonio office has arranged a $6 million acquisition loan for Fairview Shopping Center, a 28,662-square-foot retail property located at 24200 Interstate 10 W. in San Antonio. The loan was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide. The property’s tenant roster includes Fiddlin’ Frogs, Willie’s Grill and Phyllis Browning Co.
