Retail

M&M Brokers Sale of 26,273 SF Retail Property in Metro Dallas

by Haisten Willis March 10, 2015

FORNEY, TEXAS — Marcus & Millichap has brokered the sale of Mustang Crossing, a 26,273-square-foot retail property located in Forney. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Wayne Bares also of the firm’s Dallas office, procured the buyer, a local partnership. Mustang Crossing is located at 724 E. Hwy 80. Built in 2011, the asset is 20 miles east of downtown Dallas and is surrounded by tenants including Walmart, Lowe’s, Chick-fil-A, Chili’s, GameStop, Starbucks and Wendy’s. At the time of listing, Mustang Crossing was 100 percent occupied.

March 10, 2015

Newk’s Eatery to Open Three New Locations in Metro San Antonio

by Haisten Willis March 10, 2015

SAN ANTONIO — Newk’s Eatery’s franchise partner Stephen Kuehler will open three new restaurants in the San Antonio area. A Newk’s restaurant will open in New Braunfels at the corner of Town Center Drive and Creekside Way in the Town Center at Creekside. In addition, two more locations will open in north San Antonio and the surrounding area. The San Antonio and New Braunfels locations are part of Newk’s growth plans, which includes opening nearly 30 company-owned and franchised locations this year. The chain currently operates 77 units in 13 states, predominantly in the southeast.

March 10, 2015

Michigan Midwest Retail

Agree Realty Acquires 15 Properties for $42.1M

by Danielle Everson March 10, 2015

BLOOMFIELD HILLS, MICH. — Agree Realty Corp. has acquired 15 retail and restaurant properties for $42.1 million. The properties are net leased to 12 different tenants located in 10 states. The properties include a Bed Bath & Beyond, Old Navy, DressBarn, a Wendy’s restaurant, Sherwin Williams, Family Dollar, Academy Sports + Outdoors and Jo-Ann Fabric and Crafts. The transactions were completed at a weighted-average cap rate of 8 percent and have a weighted-average lease term of approximately 11 years. Bloomfield Hills, Mich.-based Agree Realty currently owns and operates a portfolio of 224 properties, located in 38 states and containing approximately 4.6 million square feet of gross leasable space.

March 10, 2015

Retail Texas

Colliers Arranges Land Deal for Retail Center Development in Metro Houston

by Haisten Willis March 10, 2015

SPRING, TEXAS — Colliers International has arranged the sale of 2.3 acres on the north side of Spring Cypress Road just east of TC Jester Boulevard in Spring. Makhan Banga and Rashpal Banga were the buyers. Tom Condon Jr. of Colliers’ office in The Woodlands represented the seller, the Schultz Family Trust. Albert Yanez with RE/MAX Northwest Realtors represented the buyers. Eddie Chumley with Propserity Bank provided financing.

March 10, 2015

Midwest Retail Wisconsin

Old Navy Signs 17,025 SF Retail Lease at Bayshore Town Center in Glendale, Wis.

by Danielle Everson March 10, 2015

GLENDALE, WIS. — Olshan Properties has arranged a retail lease for Old Navy at Bayshore Town Center in Glendale, a suburb of Milwaukee. The clothing retailer will occupy a 17,025-square-foot space that formerly housed an Applebee’s restaurant, which has relocated to a larger location within the center. Old Navy’s new store will anchor the west entrance opposite the food court on the north end of Bayshore Town Center. Renovation of the space is currently underway and the Old Navy store is expected to open to the public late this summer. Old Navy currently occupies spaces in five other Olshan Properties retail locations.

March 10, 2015

Midwest Retail Wisconsin

The Dickman Co. Brokers Sale of 3,900 SF Retail Building in Milwaukee

by Danielle Everson March 10, 2015

MILWAUKEE — The Dickman Co. Inc./CORFAC International has brokered the sale of a 3,900-square-foot retail building in Milwaukee. The property is located at 3706 W. Wisconsin Ave. MTL 1245 R Street LLC purchased the building for an undisclosed sales price from Houser Properties 3706 LLC. Anthony Huenerbein was the broker involved in the transaction.

March 10, 2015

Louisiana Retail Southeast

Gulf States Redevelops, Leases Shopping Center in Louisiana in $6.2M Project

by John Nelson March 10, 2015

HAMMOND, LA. — Gulf States Real Estate Services has completed the $6.2 million redevelopment of the Channel Shopping Center located at 1710 W. Thomas St. in Hammond. The company expanded the center by 14,734 square feet to total 49,325 square feet. The final tenants to join the shopping center are OEC 2 Japanese Restaurant and Helm Paint. Terrie Hughes, Jason Reibert and Amanda Owens of Gulf States spearheaded the leasing and redevelopment efforts on behalf of Channel Shopping Center’s owner, Sam Magee.

March 10, 2015

Florida Retail Southeast

Crossman & Co. Brings Publix-Anchored Shopping Center to Full Occupancy

by John Nelson March 10, 2015

ORANGE CITY, FLA. — Crossman & Co. has arranged Affordable Hearing Solutions’ 2,000-square-foot lease at Crown Centre Plaza in Orange City. The Publix-anchored property is located at the corner of Enterprise Road and Saxon Boulevard, just off I-4. The new lease brings the shopping center to full occupancy. Other tenants include Bealls Outlet, UPS, Jersey Mike’s Subs and Great Clips. Craig Katterfield of Crossman & Co. represented the landlord, Publix Super Markets Inc., in the lease transaction. Melody Traeger of Coldwell Banker Commercial Al Group represented Affordable Hearing Solutions.

March 10, 2015

Arizona Retail Western

Augusta Ranch Marketplace in Mesa Sells for $14M

by Nellie Day March 10, 2015

MESA, ARIZ. – Augusta Ranch Marketplace, an 80,247-square-foot shopping center in Mesa, has sold to an undisclosed investor for $14 million. The center is located at 9931 E. Baseline Road. It is anchored by Bashas’ grocery store. Other notable tenants include Great Clips, Sylvan Learning Center, Geno’s Pizza and Fat Willy’s Family Sports Grill. The center was built between 2005 and 2006. The acquisition included an adjacent developable pad. The seller was Shopoff Realty Investments.

March 10, 2015

Nevada Retail Western

Las Vegas Shopping Center Sells for $13.8M

by Nellie Day March 9, 2015

LAS VEGAS – A 55,583-square-foot retail center in Las Vegas has sold to Charleston Festival Retail LLC for $13.8 million. The center is located at 6250-6350 W. Charleston Blvd. The LLC was represented by Tim Behrendt and Lisa Hauger of Sun Commercial Real Estate. The seller, RPM Investments, was represented by Chris Clifford and Sean Margulis of the Equity Group.

March 9, 2015

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