Retail

M&M Arranges Sale of 15,400 SF Retail Property in Austin

by Haisten Willis October 24, 2014

AUSTIN — Marcus & Millichap has arranged the sale of Shops at Grandview Hills, a 15,400-square-foot retail property in Austin. Michael Buckner and Richard Mireles of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a limited liability partnership. Buckner and Mireles also secured the buyer, a limited liability company. Shops at Grandview Hills is located at 7814 N. Ranch Road 620 in Austin. The property was built in 2006 and sits on 2.8 acres in northwest Austin.

October 24, 2014

Second SurePoint Self-Storage Facility to be Constructed in Metro Houston

by Haisten Willis October 24, 2014

SUGAR LAND, TEXAS — A second SurePoint self-storage facility is set to be built in metro Houston. The new location will be located on a 2.3-acre property near the intersection of the Grand Parkway and Highway 59 in Sugar Land. This will be SurePoint’s second location in the Houston market. The planned four-story building with 123,000 square feet of rentable space will begin construction in early 2015. SurePoint, which has five locations open in the San Antonio area, also has a location in the Houston suburb of Cypress under contract. Construction on that project is set to begin later this year. Houston developer Bobby Grover is partnering with SurePoint’s Brian Cisarik, Robert Loeb and Jeff Bailey on the developments.

October 24, 2014

Massachusetts Northeast Retail

KeyPoint Arranges $7M Sale of 127,847 SF Shopping Center

by Amy Works October 24, 2014

PLYMOUTH, MASS. — KeyPoint Partners has brokered the sale of West Plymouth Square, a shopping center located at the intersection of Route 44 and Route 80 in Plymouth. The asset sold for $7 million. Ocean State Job Lot, Planet Fitness, Dollar Tree, Papa Gino’s, Eastern Bank and Plymouth Liquors occupy the 127,847-square-foot shopping center. Jonathan Aron of KeyPoint Partners represented the seller, while Michael Scanio of Cambridge Capital Advisors procured the buyer.

October 24, 2014

Florida Retail Southeast

Plaza Advisors Brokers $21.1M Sale of Shopping Center in St. Petersburg

by John Nelson October 24, 2014

ST. PETERSBURG, FLA. — Plaza Advisors has brokered the $21.1 million sale of the South Pasadena Shopping Center, a 165,886-square-foot retail center in St. Petersburg. South Pasadena’s tenant roster includes Walmart Neighborhood Market, Beall’s Outlet, Dollar Tree and CVS/pharmacy. Jim Michalak, Mike Cvetetic and Nick Castellano of Plaza Advisors represented the seller in the transaction. Pine Tree Commercial Realty purchased the asset from VV Florida I LP, a German syndication.

October 24, 2014

Massachusetts New Hampshire Northeast Retail

Marcus & Millichap Arranges $38.6M Sale of Four-Property Net-Leased Portfolio

by Amy Works October 23, 2014

BOSTON — Marcus & Millichap has brokered the sale of a four-property, net-leased drugstore portfolio. The portfolio sold for $38.6 million. The portfolio consists of a 14,320-square-foot Walgreens in Worchester, Mass., which sold for $9.4 million; a 15,013-square-foot CVS in Foxborough, Mass., which sold for $10.5 million; a 13,612-square-foot Walgreens in Merrimack, N.H., which sold for $7.4 million; and a 14,593-square-foot CVS in Clearwater, Fla., which sold for $11.4 million. Robert Horvath and Todd Tremblay of Marcus & Millichap’s Boston office represented the seller, a private New England-based real estate family, and the buyer, a private family completing a 1031 exchange, in the transaction. Kirk Felici of Marcus & Millichap’s Miami office is the firm’s broker of record in Florida.

October 23, 2014

Mixed-Use Multifamily New York Northeast Retail

GHP Office Realty Brokers $4M Sale of Mixed-Use Property Sale in Yonkers

by Amy Works October 23, 2014

YONKERS, N.Y. — GHP Office Realty has arranged the sale of a three-story mixed-use building located at 1179 Yonkers Ave. in Yonkers. Juster Development purchased the property for $4 million or $200 per square foot. The building features 20 rent-regulated apartments and seven retail stores. Jamie Schwartz of GHP Office Realty represented the seller, a private New York City investor, in the deal. Gary Juster and Michael Juster, principals of Juster Development, served as in-house representation for the buyer. John Dunne of Lynn, Gartner, Dunn & Covello LLP provided legal counsel for the seller, while Steven Hirsch of Hirsch & Gibaldi LLP was counsel for the buyer.

October 23, 2014

Michigan Midwest Retail

Mid-America Brokers Sale of Fraser Shopping Center in Fraser, Mich.

by Danielle Everson October 23, 2014

FRASER, MICH. — Mid-America Real Estate has brokered the sale of a 68,326-square-foot shopping center in Fraser. Fraser Shopping Center is located at the triple intersection of Groesbeck Highway, 13 Mile Road and Utica Road. Oakridge Supervalu and Family Dollar anchor the center. A private investor purchased the property for an undisclosed sales price. Sterling Heights, Mich.-based Showcase One Real Estate Group represented the buyer. Ben Wineman of Mid-America Real Estate Corp., and Daniel Stern of Mid-America Real Estate – Michigan Inc., represented the seller, Farmington Hills, Mich.-based Ramco-Gershenson Properties Trust.

October 23, 2014

Oregon Retail Western

Logan’s Market to Open at Nolan Town Center in Redmond

by Nellie Day October 23, 2014

REDMOND, ORE. – Logan’s Market has leased 42,000 square feet at Nolan Town Center in Redmond. The Class A shopping center is located at 2276 SW Highland Ave. It was built in 2005. Logan’s will occupy the space of former anchor Ray’s Food Place, which went bankrupt in 2013. NTC went into foreclosure soon thereafter. Though Logan’s Market will be owned and operated as one store, it will also feature TrueValue Hardware. The new location should open this December. The store will join existing tenants like McDonald’s, Starbucks, Great Clips and Country Financial. Logan’s was represented by the Pennbrook Company. Nolan Town Center was represented by court-appointed receiver H. Roger Qualman of NAI Norris, Beggs & Simpson.

October 23, 2014

California Retail Western

In-N-Out Burger Leases Space at the Shoppes at Westlake Village

by Nellie Day October 23, 2014

LOS ANGELS – In-N-Out Burger has leased 3,800 square feet at the Shoppes at Westlake Village. The retail center is located just off the 101 freeway at Lindero Canyon Road in the Los Angeles submarket of Westlake Village. The burger chain was represented by Keith Kleinman and Mark Esses of California Realty Group. The landlord, Selleck Development Group, was represented by Lee & Associates.

October 23, 2014

Retail Texas

Nutrition Nation Opens in Metro Dallas

by Haisten Willis October 22, 2014

CARROLLTON, TEXAS — Nutrition Nation, a sports and nutritional supplement retailer, has signed a lease for 2,100 square feet in Carrollton, a Dallas suburb. The new location will open in November at the southeast corner of Trinity Mills and Marsh Lane. Maury Levy and Robert Luleff of UCR Dallas represented the landlord, 2810 East Trinity Mills Road Holdings. Khan Dynasty LLC represented the tenant.

October 22, 2014

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