Retail

M&M Arranges Sale of Retail Property in Metro Houston

by John Nelson November 13, 2014

TEXAS CITY, TEXAS — Marcus & Millichap has arranged the sale of Three Palms Center, a 26,318-square-foot retail property in Texas City. Derek Hargrove and Justin Miller of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a Houston-based developer. Hargrove and Miller also secured the buyer, a private international investor. Three Palms is located at 8030 FM 1765 at the corner of FM 1765 and South Amburn Road. The three-building development was completed in 2013. Tenants include A Brighter Day Childcare, Chicken Plus, KLM Food Mart, K&G 5 Star Barber College and Cricket Wireless.

November 13, 2014

Marcus & Millichap Brokers $6.2M Sale of Cornerstone Center in Metro Milwaukee

by John Nelson November 13, 2014

GLENDALE, WIS. — Marcus & Millichap has brokered the $6.2 million sale of Cornerstone Center, a 13,304-square-foot retail property located at 5595 N. Port Washington Road in Glendale, roughly nine miles west of Milwaukee. Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Oak Brook, Ill.-based office represented the seller, an unnamed limited liability company, in the transaction. Sharko and Weisenbeck also secured and represented the buyer, also an unnamed limited liability company. Matthew Fitzgerald of Marcus & Millichap assisted in closing the transaction.

November 13, 2014

Louisiana Retail Southeast

Stirling Properties Brokers Sales of Three Retail Centers in Gulf South Totaling $15.2M

by John Nelson November 13, 2014

COVINGTON, LA. — Stirling Properties has brokered the sale of three retail centers in Louisiana and Alabama totaling $15.2 million. The three properties include a CVS in Baton Rouge, La., that sold for approximately $4.8 million; the Conn’s-anchored Park Plaza in Lake Charles, La., that sold for $6 million; and the 42,257-square-foot Woodmere Crossing in Montgomery, Ala., that sold for $4.4 million. A private New York-based investor purchased the CVS in Baton Rouge from a private Louisiana-based investor in a 1031 tax-deferred exchange. Patrick Luther and Matthew Mousavi of Faris Lee Investments assisted in the sale. A private investor based in Houston purchased Park Plaza from Weingarten Realty Investors. The property was 40 percent vacant at the time of sale. BV Belk Properties purchased Woodmere Crossing via auction. Jeff Barnes of Stirling’s Mobile office assisted in the transaction along with Auction.com. Woodmere Crossing’s tenant roster includes Petco, Books-A-Million, Jason’s Deli and Sally Beauty Supply. Beezie Landry of Stirling’s Covington office represented the seller in all three transactions.

November 13, 2014

Retail

SRS Brokers $14.6M Sale of Publix-Anchored Shopping Center in Orlando

by John Nelson November 13, 2014

ORLANDO, FLA. — The SRS Southeast investment sales team has brokered the $14.6 million sale of a 77,260-square-foot shopping center located at 16825 E. Colonial Drive in Orlando. The property, known as Corner Lakes Plaza, is co-anchored by Publix and Tractor Supply Co. An affiliate of Publix Super Markets Inc. purchased the shopping center from Miller Group Development. Kyle Stonis and Pierce Mayson of SRS represented Miller Group Development in the transaction.

November 13, 2014

Florida Retail Southeast

LA Fitness-Anchored Shopping Center in Deerfield Beach Sells for $12.3M

by John Nelson November 13, 2014

DEERFIELD BEACH, FLA. — Investments Limited has purchased Hillsboro Commons, an 82,000-square-foot shopping center located in Deerfield Beach, for $12.3 million. The two-story, LA Fitness-anchored retail center located at 1000 E. Hillsboro Blvd. was 98 percent leased at the time of sale. Investments Limited purchased the center from Hillsboro Capital LLC. Phil Bloom of Bellestar Partners LLC and Nancy Dockerty of Dockerty Romer & Co. co-brokered the transaction.

November 13, 2014

California Retail Western

Barre3 Leases Ground-Floor Retail Space at Colonnade in Los Altos

by Nellie Day November 13, 2014

LOS ALTOS, CALIF. – Barre3 has leased 1,460 square feet of ground-floor retail space at the Colonnade apartment community in Los Altos. The exercise studio, which blends ballet with yoga and pilates, will open early next year. Other retail tenants at Colonnade include the Vitamin Shoppe and Jos. A. Bank. The community’s retail space is now 85 percent leased. Colonnade also features 167 luxury apartment units that will begin leasing early next year. Barre3 was represented by Ryan Warner of Meacham/Oppenheimer. The landlord and developer, a joint venture between Pritzker Realty Group and Sares Regis Group of Northern California, was represented by Randol Mackley and Steve Gazzera of SRS Real Estate Partners.

November 13, 2014

Restaurant Retail Texas

Hillwood Announces New Entertainment Venue at Alliance Texas

by Haisten Willis November 12, 2014

FORT WORTH, TEXAS — Hillwood Properties has finalized an agreement with Dallas-based Entertainment Properties Group Inc. to develop PINSTACK, a 50,000-square-foot entertainment venue at Alliance Town Center in Fort Worth. The planned venue will include bowling lanes and a full-service restaurant and bar that can accommodate up to 2,000 guests. The venue will also include meeting spaces to align with corporate and business needs. PINSTACK is scheduled to open in early 2016 at the intersection of Hillwood Parkway and Heritage Trace Parkway.

November 12, 2014

Retail Texas

Robert Faust Co. Arranges $2.8M Construction Loan in Metro Dallas

by Haisten Willis November 12, 2014

KAUFMAN, TEXAS — Robert Faust Mortgage Co. has arranged a $2.8 million construction loan for the proposed Shops at Kings Fort in Kaufman. The 13,244-square-foot retail center will be located on 1.7 acres on the south side of Kings Fort Parkway. The location is just east of Old Kemp Highway and south of Highway 175. A Walmart opened adjacent to the site in April 2014. Tenants will include AT&T, Texas Dentistry, Roma’s Restaurant, Oasis Nails, Great Clips, Popcorn Paradise and Verizon Wireless. Jim Meara with The Meara Co. is the developer.

November 12, 2014

Mixed-Use Restaurant Retail Texas

Coal Vines Restaurant to Join CityLine Mixed-Use Development in Metro Dallas

by Haisten Willis November 12, 2014

RICHARDSON, TEXAS — KDC has announced that Coal Vines, a fast-casual restaurant, will join CityLine, the company’s 186-acre mixed-use project in Richardson. The restaurant is scheduled to open in summer 2015. The restaurant is an Italian bistro concept serving individual pizzas, salads, pastas and several whole wheat and gluten-free options. Coal Vines will be located on State Street near CityLine Plaza.

November 12, 2014

Oregon Retail Western

LBG Buys the Medford Center Retail Property in Oregon

by Nellie Day November 12, 2014

MEDFORD, ORE. — An entity sponsored by LBG Real Estate Companies has acquired the Medford Center, a 420,000-square-foot regional shopping center, for an undisclosed sum. The retail center is located off Interestate-5, between the Biddle Road and Crater Lake retail corridors in Medford. The Medford Center was 87 percent leased at the time of sale. Notable tenants include Cinemark, International Fitness, Sears, Safeway, Rite Aid, Red Robin, Coldstone Creamery and Ashley Furniture. LBG plans to redevelop and reposition the center. This will include significant improvements to the center’s configuration, architectural design and the central pedestrian promenade.

November 12, 2014

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