Retail

TOWN Residential Arranges Purchase of Retail/Office Building in NoHo

by Amy Works June 8, 2015

NEW YORK CITY — TOWN Residential has arranged the purchase of a retail/office building located at 734 Broadway in New York City’s NoHo district. 734 Broadway Acquisitions LLC purchased the 19,000-square-foot property for an undisclosed price. The five-story property features 6,500 square feet of usable retail space and four floors of office space totaling 12,500 square feet. The buyer plans to renovate the property, which was vacant at the time of acquisition. Jonathan Butwin and Scott Dweck of TOWN Residential represented the buyer in the transaction. The name of the seller was not released.

June 8, 2015

Retail Texas

InvenTrust Properties Corp. Names Alan Grayson Director of Leasing for Dallas

by Haisten Willis June 8, 2015

DALLAS — InvenTrust Properties Corp. has named Alan Grayson as its director of leasing in the company’s Dallas office. Grayson oversees all retail leasing activities and assists in market expansion efforts for the North Texas and Western regions of the company’s national portfolio. Prior to joining InvenTrust Properties, Grayson spent 10 years at Dallas-based MG Herring Group, most recently as vice president of leasing. Grayson earned his BBA from the University of North Texas and holds the Certified Leasing Specialist (CLS) designation from the International Council of Shopping Centers (ICSC). InvenTrust Properties currently owns and manages 34 centers in North Texas, Oklahoma, Colorado, California, Nevada and Washington, and is seeking acquisitions in Dallas, Oklahoma City, Denver and Phoenix.

June 8, 2015

Georgia Market Reports Retail Southeast Southeast Market Reports Uncategorized

Corporate Relocations to Atlanta Prove the City is a Destination Market

by John Nelson June 8, 2015

Atlanta is experiencing an influx of human capital, corporate relocations and development of distribution networks that are combining to create a robust expansionary cycle in our real estate markets. One of the most positive elements of this expansion is that it appears the underlying structure of the growth is creating stability for our city and state well into the future. It is the structure of the growth that will be a long-term difference maker. CNBC annually conducts a study and ranks the top states for doing business. These rankings are a result of assessing various criteria, including but not limited to the cost of doing business, workforce quality, access to capital and business friendliness. CNBC’s results in 2014 were very telling. Four of the top 10 states are located in the south. The South’s top 10 finalists in CNBC’s study were Georgia (1), Texas (2), North Carolina (5) and Virginia (8). In addition to these empirical studies, major corporations are voting as well. The verdict is that many organizations are choosing to relocate corporate headquarters to Atlanta. Recently, marquee brands such as Mercedes-Benz USA and State Farm all have made plans to open or expand major corporate centers in our …

June 8, 2015

California Retail Western

San Diego Retail Property Sells for $3.8M

by Nellie Day June 8, 2015

SAN DIEGO – A 7,125-square-foot retail property in San Diego has sold to CITYWEST LLC for $3.8 million. The property is located at 142 University Ave. in the Hillcrest submarket. The space is fully leased to Fiesta Cantina, Charisma Cucina Italiana, Mess Royale, Cody’s Home + Gift, Detour Salon and 142 Beauty Spot. It was built in 1989. CITYWEST was represented by Richard Lebert and Matt Zimsky of Colliers International. The seller, 142 DMW Group LLC, was represented by Mark McEwen of the same firm.

June 8, 2015

Michigan Midwest Retail

Broad Reach Retail Partners Buys 327,946 SF Retail Center in Utica, Mich.

by Amy Works June 5, 2015

UTICA, MICH. — Broad Reach Retail Partners LLC has added Shelby Corners Shopping Center, located at 13277 Hall Road in Utica, to its shopping center portfolio. The 327,946-square-foot center consists of two single-story strip centers situated between a Target and a parcel housing Buy Buy Baby and Christmas Tree Shops. Both Target and the parcel are not part of the transaction. At the time of acquisition, the property was 74.7 percent leased. The name of the seller and the purchase price were not released.

June 5, 2015

Illinois Midwest Retail

Quantum Real Estate Advisors Arranges $3.7M Sale of Retail Building in Illinois

by Amy Works June 5, 2015

LAKE ZURICH, ILL. — Quantum Real Estate Advisors has arranged the sale of a retail building located at 440 S. Rand Road in Lake Zurich. The 7,200-square-foot, dual-tenant property sold for $3.7 million. The property’s tenant roster includes Vitamin Shoppe and Sleepy’s. Chad Firsel of Quantum Real Estate represented the buyer, a Argentina-based private real estate investor, and the seller, an Illinois-based development group, in the transaction.

June 5, 2015

Restaurant Retail Texas

M&M Arranges Sales of Retail Properties in Metro Houston, San Antonio

by Haisten Willis June 5, 2015

KATY AND SAN ANTONIO, TEXAS — Marcus & Millichap has arranged the sales of Center at Cinco Ranch, a 11,706-square-foot retail property located in Katy, and an 1,785-square-foot Starbucks in San Antonio. In the first transaction, James Bell of Marcus & Millichap’s Houston office represented the buyer, a partnership. Center at Cinco Ranch is located at 23100 Cinco Ranch Blvd. in Katy. In the second transaction, Bell marketed the property on behalf of the seller, a developer. The Starbucks is located at 3718 Horizon Hill Blvd.

June 5, 2015

California Retail Western

Rouse Properties Buys Fig Garden Village in Fresno for $106M

by Nellie Day June 5, 2015

FRESNO, CALIF. — Rouse Properties has acquired Fig Garden Village, a 301,459-square-foot lifestyle center in Fresno, for $106.1 million. The center is located at 5082 N. Palm Ave. Fig Garden Village is anchored by Whole Foods. Other notable tenants include Lululemon, Williams-Sonoma, J. Crew, Pottery Barn, Chicos, White House Black Market, Chipolte and Starbucks. The center was built in 1956 and renovated in 2007. It was 93.9 percent leased at the time of sale. The acquisition was financed with a new $74.2 million, non-recourse CMBS loan that features an interest rate of 4.14 percent.

June 5, 2015

California Retail Western

DJM Capital Partners Signs Steven Alan at Lido Marina Village in Newport Beach

by Nellie Day June 5, 2015

NEWPORT BEACH, CALIF. — DJM Capital Partners has signed Steven Alan, a luxury clothing, home and accessories store, as the newest retailer at Lido Marina Village in Newport Beach. The 1,526-square-foot retail store is slated to open late this fall. The store will carry the designer’s line of ready-to-wear casual, smart essential for both men and women, as well as a hand-curated selection of clothing, handbags and optical from an eclectic group of emerging designers. Other tenants at the 116,000-square-foot center, which is undergoing a renovation, include Juice|Served Here, Jolie, Honor Coffee Roasters and Charlie & Me.

June 5, 2015

California Retail Western

Progressive Inks Seven New Leases at Hesperia Shopping Center

by Nellie Day June 5, 2015

HESPERIA, CALIF. — Progressive Real Estate Partners has signed seven new leases, totaling 19,600 square feet, at The Marketplace on Main in Hesperia. The recently opened Walmart-anchored retail center is located at 13401 Main St. Paul Galmarini of Progressive represented the ownership, Pacific/Lewis Properties, a division of Pacific Development Group, in the following transactions: • Petco, 10,000 square feet • The Habit Burger Grill, 2,500 square feet • Pieology Pizzeria, 2,000 square feet • Yogurtland, 1,200 square feet • Metro PCS, 1,400 square feet • Great Clips, 1,200 square feet • Nail Salon, 1,300 square feet The ownership broke ground on the two-building, 24,000-square-foot retail center in April. The seven new retailers are slated to open prior to Holiday 2015. There are three retail units, ranging from 1,500 to 1,600 square feet, available at the center.

June 5, 2015

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