Retail

Infrastructure Completed at Terrell Market Center in Metro Dallas

by Haisten Willis March 23, 2015

TERRELL, TEXAS — Oakridge Investments has completed infrastructure work for the Terrell Market Center development, located at the intersection of I-20 and U.S. Highway 80 in Terrell. This includes the expansion of FM 148 to four lanes and a new frontage road and off-ramp for westbound I-20. The completed infrastructure makes way for a 62,000-square-foot Buc-ee’s that will have 84 gas pumps on 19.5 acres. The store is expected to open in summer 2015. Along with Buc-ee’s, 52.5 acres are slated for future use by Baylor Scott & White, along with Starbucks, Dairy Queen and Whataburger.

March 23, 2015

SACA Arranges Sale of Shopping Center in San Antonio

by Haisten Willis March 23, 2015

SAN ANTONIO — San Antonio Commercial Advisors (SACA), a member of the Cushman & Wakefield Alliance, has arranged the sale of Timber Plaza, a 21,940-square-foot shopping center located at 6025 Tezel Road in San Antonio. Bradley Suttle of SACA represented the seller, a California-based partnership, in the transaction. A locally based private investor was the buyer. Built in 1985, Timber Plaza serves residents and visitors on the far west side of San Antonio at the corner of Tezel and Timber Path.

March 23, 2015

Retail Texas

BB&T Acquires 40 Texas Bank Branches from CitiBank

by Haisten Willis March 23, 2015

DALLAS, HOUSTON, MIDLAND and ODESSA, TEXAS — BB&T Corp. has completed the acquisition of 41 branches in Texas from Citibank. The branches will officially open as BB&T branches, making BB&T the 14th largest bank in Texas with 121 branches and $5.1 billion in deposits. The acquisition, which was announced in September 2014, includes retail branches in the Dallas, Houston, Midland and Odessa markets, including $2.2 billion in deposits and $81 million in loans based on Feb. 28, 2015, balances. BB&T received regulatory approval for the acquisition from the FDIC and the North Carolina Office of the Commissioner of Banks in February 2015. The $1.2 billion in deposits and $122 million in loans acquired previously are primarily in the fast-growing Austin, Bryan-College Station and San Antonio markets.

March 23, 2015

California Retail Western

Citibank Building in Riverside Sells for $4.8M

by Nellie Day March 23, 2015

RIVERSIDE, CALIF. – A 7,508-square-foot building in Riverside that is triple-net leased to Citibank has sold to a local family trust for $4.8 million. The building is located at 3580 Tyler Street. It sits across the street from the Galleria at Tyler mall. The trust was represented by Shaun Riley of Faris Lee Investments. The seller, CP Sunshine, was represented by Equity Investment Advisors.

March 23, 2015

California Retail Western

Rancherias Plaza in Apple Valley Sells for $3.1M

by Nellie Day March 23, 2015

APPLE VALLEY, CALIF. – Rancherias Plaza, a 40,079-square-foot retail center in Apple Valley, has sold to Pacwest Management for $3.1 million. The four-building plaza is located at 20226 US Hwy 18. It sits across the street from Walmart, and adjacent to Apple Valley Commons. It was 40 percent occupied at the time of closing. Notable tenants include Domino’s, GNC, Boost Mobile and H&R Block. Pacwest was represented by David Wick of Marcus & Millichap. The seller, Huntington Beach Partnership, was represented by Brad Freeman of Freeman & Associates.

March 23, 2015

Massachusetts Northeast Retail

The Grossman Companies Buys Self-Storage Facility in Boston for $8.8M

by Amy Works March 23, 2015

BOSTON — An affiliate of The Grossman Companies Inc. has acquired a self-storage facility in Boston’s Roslindale neighborhood. Located at 34-44 Lochdale Road, the 44,000-square-foot facility features 366 storage units, as well as 17,000 square feet of commercial space that is leased to two tenants. The property was purchased for $8.8 million, including a $6.4 million acquisition loan provided by Brookline Bank. The name of the seller was not released.

March 23, 2015

Midwest Retail Wisconsin

Siegel Gallagher Inc. Arranges Sale of 367,147 SF Mall in Sheboygan, Wis.

by Danielle Everson March 20, 2015

SHEBOYGAN, WIS. — Siegel Gallagher Inc. has arranged the sale of Memorial Mall, a 367,147-square-foot shopping center in Sheboygan. Meijer Stores Limited Partnership, a subsidiary of Michigan-based grocer Meijer Inc., purchased the property for $10.7 million. NRFC Memorial Holdings LLC, a subsidiary of Northstar Realty Finance Corp., sold the property, which is located at 3347 and 3353 Kohler Memorial Drive. The transaction included the acquisition of the adjoining Sears Property, which was acquired by the seller in late 2014 from Sears Holding Corp. Sears has since vacated the property. Memorial Mall was developed by Simon in 1983. Tenants include Kohl’s Department Stores, Bed Bath and Beyond and Hobby Lobby. The property was acquired by the seller through foreclosure in 2011. Siegel Gallagher Management Co. was initially the court-appointed receiver and has managed the property for the seller since 2011. John Kuhn and Matt Chappell of Siefel Gallagher represented the seller. Michael Stratis of Intrepid Properties and Robert Flood of RFP Commercial represented the buyer.

March 20, 2015

Illinois Midwest Retail

Marcus & Millichap Arranges $4.3M Sale of The Fresh Market in Lake Forest, Ill.

by Danielle Everson March 20, 2015

LAKE FOREST, ILL. — Marcus & Millichap has arranged the $4.3 million sale of The Fresh Market, a 16,491-square foot net-leased property located in Lake Forest. The Fresh Market is located at 850 N. Western Ave. The property underwent renovations in 2008 and 2009. Dominic Sulo, Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor. Sharko, Weisenbeck and Adrian Mendoza, also of the firm’s Chicago Oak Brook office, represented the buyer, a limited liability company.

March 20, 2015

Retail Texas

Whole Foods, Starbucks Open New Locations in The Woodlands

by Haisten Willis March 20, 2015

THE WOODLANDS, TEXAS — A 40,000-square-foot Whole Foods Market and a Starbucks are now open in Hughes Landing, a 66-acre mixed-use development in The Woodlands. Whole Foods Market is a natural and organic food retailer, while Starbucks offers a selection of coffee, tea and snacks. Hughes Landing, which is under construction, will feature office buildings, shopping, entertainment and dining at Restaurant Row, an all-suites Embassy Suites hotel and up to 800 multifamily residences at full build-out. The development overlooks 200-acre Lake Woodlands.

March 20, 2015

Connecticut Northeast Retail

The Beach House Buys 4,413 SF Commercial Property for $2.95M in Connecticut

by Amy Works March 20, 2015

NORWALK, CONN. — The Beach House LLC has acquired a two-story building located at 370 Westport Ave. in Norwalk. 370 Westport Avenue LLC sold the property for $2.95 million, or $668 per square foot. Bankwell Financial Group (NASDAQ: BWFG) occupies the 4,413-square-foot property, which is situated on a 0.35-acre lot. Franco Fellah of HK Group brokered the transaction. Steven Siegelaub of Berkowitz, Trager & Trager provided legal services for the seller, while Steven Baron served as legal counsel for the buyer in the 1031 exchange.

March 20, 2015

Newer Posts

Older Posts