Retail

NorthMarq Arranges Two Loans Totaling $18.1M for Two Properties in Kentucky

by John Nelson April 14, 2015

HEBRON AND WILDER, KY. — NorthMarq Capital has arranged the refinancing of two properties in Hebron and Wilder totaling $18.1 million. The properties include Shoppes at Worldwide Park in Hebron and Aspen Pines Apartments in Wilder. Shoppes at Worldwide Park is a 13,174-square-foot unanchored retail property located at 2010 N. Bend Road. Aspen Pines is a 245-unit Class A apartment community located at 1700 Aspen Pines Drive. Susan Branscome of NorthMarq’s Cincinnati office arranged the $16.8 million loan for Aspen Pines through PPM and the $1.3 million loan for Shoppes at Worldwide Park through Symetra.

April 14, 2015

Georgia Retail Southeast

Crossman & Co. Brokers $8.6M Sale of Shopping Center in Roswell

by John Nelson April 14, 2015

ROSWELL, GA. — Crossman & Co. has brokered the $8.6 million sale of Market Center, an 82,225-square-foot shopping center located on Holcomb Bridge Road in Roswell, a suburb of Atlanta. The Office Depot-anchored center was built in 1990 and was 56 percent leased at the time of sale. Brian Carolan and John Zielinski of Crossman & Co. represented the institutional seller in the transaction. The buyer was an unnamed investment fund.

April 14, 2015

California Retail Western

Liberty Station Office, Retail Building Sells in San Diego

by Nellie Day April 14, 2015

SAN DIEGO – A 37,333-square-foot office and retail building in San Diego has sold to Tower Investments for $5.2 million. The property is located at 2751 Roosevelt Road. It has six tenant spaces and is anchored by the Point Loma Sports Club and San Diego Gymnastics. The seller, Liberty Station 210 Investors, was represented by Tracy C. Clark and Kimberly Clark of Voit Real Estate Services’ San Diego office.

April 14, 2015

Arizona Retail Western

Mattress Firm Signs Three Leases in Arizona

by Nellie Day April 14, 2015

PHOENIX – Mattress Firm has signed three leases throughout Arizona. The bedding retailer signed leases for a 7,000-square-foot location at Emerald Center in Tempe; a 3,500-square-foot location in the Silverstone Marketplace in Scottsdale; and a 3,800-square-foot location in Mesa. Mattress Firm was represented by Darren Pitts and Michael Clark of Velocity Retail Group in all three transactions.

April 14, 2015

Retail Texas

M&M Arranges Sale of 16,400 SF Retail Property in Houston

by Haisten Willis April 13, 2015

HOUSTON — Marcus & Millichap has arranged the sale of Shadowbriar Shopping Center, a 16,400-square-foot retail property located in Houston. James Bell of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a developer. Marc Irvin of Marcus & Millichap’s Atlanta office secured and represented the buyer, a private investor. Shadowbriar Shopping Center is located at 12303 Westheimer Road.

April 13, 2015

Florida Retail Southeast

Glickman Retail Group Brokers $16M Sale of Shopping Center in Central Florida

by John Nelson April 13, 2015

TITUSVILLE, FLA. — Sean Glickman of Coldwell Banker Commercial NRT and Glickman Retail Group brokered the $16 million of Crossroads Marketplace, an 89,200-square-foot shopping center located at 3065 Columbia Blvd. in Titusville, a town in Central Florida. The asset was 95 percent leased at the time of sale to tenants such as Marshalls, Petco, Parish Medical, AT&T, GNC and Dollar Tree. The asset is also shadow-anchored by a Super Target. The buyer is an international investment firm. Glickman represented the seller, a 106-year-old family-owned company that owns shopping centers in 12 states in the Southeast.

April 13, 2015

Midwest Ohio Retail

IPA Arranges $15.4M Sale of Shopping Center in South Euclid, Ohio

by Danielle Everson April 13, 2015

SOUTH EUCLID, OHIO — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $15.4 million sale of Cedar Center North, a 61,466-square-foot shopping plaza in the Cleveland suburb of South Euclid. The property is located at the intersection of Cedar Road and Warrensville Center Road at 13991 Cedar Road. John Carroll University is located less than a mile from the property and two super-regional shopping centers, Legacy Village and Beachwood Place, are within two miles. IPA senior directors Erin Patton, Craig Fuller and Scott Wiles represented the seller, a local northeast Ohio development group. The buyer is Inland Real Estate Corp.

April 13, 2015

Florida Retail Southeast

FA Commercial Brokers $10.5M Sale of Ground-Floor Retail in Miami’s Brickell District

by John Nelson April 13, 2015

MIAMI — FA Commercial has brokered the sale of retail spaces at Millecento, a 42-story mixed-use tower located at 1100 S. Miami Ave. in Miami’s Brickell neighborhood. A group of unnamed investors based in South America purchased the ground-floor retail spaces, totaling 17,500 square feet, for $10.5 million. Fabio Faerman of FA Commercial represented the buyer in the transaction. Since the sale, Faerman has leased the retail spaces to tenants such as Freddo Gelateria, Pizza Tonda, Prime Cigar and Level 1 Restaurant & Lounge.

April 13, 2015

North Carolina Retail Southeast

Faris Lee Brokers $7.9M Sale of Hobby Lobby Store in North Carolina

by John Nelson April 13, 2015

JACKSONVILLE, N.C. — Faris Lee Investments has brokered the $7.9 million sale of a single-tenant retail property occupied by Hobby Lobby at 1290 Western Blvd. in Jacksonville. Hobby Lobby has just begun its triple-net, 15-year lease at the newly constructed 55,000-square-foot property. Matthew Mousavi and Patrick Luther of Faris Lee Investments represented the buyer, a private equity fund based in New York, in the transaction. Mousavi and Luther also represented the seller, the North Carolina-based developer of the Hobby Lobby store. The buyer purchased the store at a 6.5 percent cap rate.

April 13, 2015

Arizona Retail Western

Nightclub Building in Scottsdale Sells for $2.1M

by Nellie Day April 13, 2015

SCOTTSDALE, ARIZ. – A single-tenant property in Scottsdale that is leased to Red Revolver Night Club has sold to Tornga Family LLC for $2.1 million. The space is located at 7316 E. Stetson Drive in the Old Town district. The buyer was represented by Robert Jones of Torrey Pines Real Estate Investments. The seller, GEM Realty Advisors, was represented by CBRE’s Steve Julius and Jesse Goldsmith.

April 13, 2015

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