Retail

M&M ARRANGES $2.9M SALE OF 8,544 SF RETAIL PROPERTY

by admin December 10, 2013

WEST DUNDEE, ILL. — Marcus & Millichap has arranged the $2.9 million sale of West Dundee Shops, an 8,544-square-foot retail property in West Dundee, located about 40 miles west of Chicago. Austin Weisenbeck, Adrian Mendoza and Sean Sharko, investment specialists in Marcus & Millichap’s Oak Brook office, represented the seller, a limited liability company, and the buyer, a private investor. Located at 210 – 230 N. 8th St., the property is fully leased to three national tenants, including FedEx, Sprint and Jimmy John's. FedEx has occupied its space for 15 years, while Sprint and Jimmy John’s have occupied their spaces for 10 years.

December 10, 2013

COOPER ARRANGES $1.8M SALE OF 91,522 SF SHOPPING CENTER

by admin December 10, 2013

COLUMBUS, OHIO — The Cooper Commercial Investment Group has arranged the $1.8 million sale of the South Pointe on High Retail Center & MarketPlace in Columbus. Dan Cooper, president and broker of Cooper Commercial, represented the owner, a national bank, while the buyer was a private investor from Oklahoma. The 91,522-square-foot center features a variety of tenants, including Chase Bank, Little Caesar’s Pizza, Saturday’s Hair Salon, the U.S. Armed Forces Career Center and Aaron’s Rents.

December 10, 2013

Retail Western

PRESCOTT GATEWAY MALL CHANGES HANDS

by admin December 10, 2013

PRESCOTT, ARIZ. — Prescott Gateway Mall, a 578,666-square-foot regional mall has sold to Tabani Group for an undisclosed sum. The mall is located at 3250 Gateway Blvd. in Prescott. It contains about 133,000 square feet of traditional, enclosed mall space and about 192,000 square feet of pad space. The unnamed seller was represented by CBRE’s Mindy Korth, Philip D. Voorhees, George Good and Patrick Connell.

December 10, 2013

Retail Southeast

UNIVERSITY BUYS SEABOARD STATION IN RALEIGH FOR $20.8M

by admin December 9, 2013

RALEIGH, N.C. — William Peace University, a private university in Raleigh, has purchased Seaboard Station, a 92,000-square-foot retail property in downtown Raleigh. The university bought the asset for approximately $20.8 million. Seaboard Station’s tenant roster includes 18 Seaboard, Galatea Boutique, J. Betski’s, Logan Trading Co., Marigold Parlour, 02 Fitness Club, Peace China, Phydeaux, Seaboard Ace Hardware, Seaboard Café, Seaboard Wine Warehouse, Studio 123 and Tyler’s Taproom. TradeMark Properties represented the school in the transaction.

December 9, 2013

Retail Southeast

CBRE BROKERS $11.6M SALE OF TAMPA SHOPPING CENTER

by admin December 9, 2013

TAMPA, FLA. — CBRE has arranged the sale of a Sweetbay Supermarket-anchored shopping center at 2525 N. Dale Mabry Highway in Tampa. Forge Real Estate Partners III LP, a private equity fund jointly managed by Forge Capital Partners and The Sembler Co., purchased the 56,097-square-foot asset for approximately $11.6 million. The shopping center is fully occupied to tenants including Sweetbay, Moe’s Southwest Grill, Scottrade, GameStop and Jimmy John’s. Casey Rosen and Dennis Carson of CBRE represented the seller, Optimus One LLC, in the transaction.

December 9, 2013

Retail Southeast

PHILLIPS EDISON-ARC PURCHASES COLLINGTON PLAZA

by admin December 9, 2013

BOWIE, MD. — Phillips Edison-ARC Shopping Center REIT Inc. has purchased Collington Plaza, a 122,000-square-foot, grocery-anchored shopping center located in Bowie. Giant Foods anchors the shopping center, whose other tenants include Advance Auto Parts, NASA Federal Credit Union, America’s Best Eyewear, 7-Eleven, GNC, Hair Cuttery and Sally Beauty. Michael Gorsage of HR Retail brokered the sale between Phillips Edison-ARC and the seller, Next Collington Plaza LLC, an affiliate of Next Realty.

December 9, 2013

Northeast Retail

CMI SECURES 79,000 SF IN LEASES AT NORWOOD RETAIL CENTER

by admin December 9, 2013

NORWOOD, MASS. — CMI Property Inc. has leased 79,000 square feet of space to three retail tenants at its newly acquired shopping plaza at 560-570 Boston Providence Highway in Norwood, a southwest suburb of Boston. Bellevue, Wash.-based thrift retailer Savers Inc. leased 43,000 square feet of space. Peter Considine of the Dartmouth Co. represented Savers in the transaction. William Zoppo of Elliot & Co. represented the landlord. Launch Trampoline Park, a recreation center where children and adults can jump on trampolines, leased 23,000 square feet of retail space. Elliot Ravech of Elliot & Co. represented CMI Property in the transaction. The park is scheduled to open later this month. Big Bob’s Flooring, a flooring outlet franchise, leased 13,000 square feet. Ravech represented the landlord in the transaction. The former Syms Plaza is now fully leased. The two retail buildings at the property span 80,208 square feet and are located on an 8.5-acre site.

December 9, 2013

Retail Texas

WORLD CLASS CAPITAL BUYS SAN ANTONIO RETAIL CENTER

by admin December 9, 2013

SAN ANTONIO — World Class Capital Group LLC has acquired Culebra Crossing, a 141,000-square-foot retail center in northwest San Antonio. The property, located on Culebra Road two miles north of Loop 410, was 93 percent occupied at the time of the sale. Anchors of the center include WellMed and Family Dollar. World Class Capital also acquired the site’s vacant pad sites as part of the purchase.

December 9, 2013

Retail Texas

RETAIL CONNECTION ARRANGES 51,796 SF LEASE IN GARLAND

by admin December 9, 2013

GARLAND, TEXAS — The Retail Connection has arranged a lease of 51,796 square feet for Fitness Connection at Shiloh Square, a shopping center in the northeast Dallas suburb of Garland. Located at 2334 W. Buckingham Road, the property is in proximity to the Bush Turnpike, Highway 75, Interstate 635 and Interstate 30. Sherman Hinkebein and Wyatt Russo of The Retail Connection, along with Bob Ginsberg and Amy Nott of CBRE, represented the tenant, a gym. AVG Partners is the landlord.

December 9, 2013

Retail Western

VALLEY MALL, VALLEY MALL PLAZA IN YAKIMA RECEIVES $42M

by admin December 6, 2013

YAKIMA, WASH. — Valley Mall and Valley Mall Plaza in Yakima have received $42 million in financing. The regional mall and adjacent retail power center are located in the Yakima Valley in the south central part of the state. They contain a total of 679,845 square feet. The two centers are 94 percent leased to tenants like Macy’s, Sears, Kohl’s, T.J. Maxx, Ross Dress for Less, Bed Bath & Beyond, Michael’s, Ulta and Old Navy. The seven-year, full-term, interest-only loan was arranged by HFF’s Eric Tupler, Paul Brindley, Tom Wilson, Kristian Lichtenfels and Erica Christensen. The borrower, CenterCal Properties, used the proceeds to refinance the property’s maturing debt.

December 6, 2013

Newer Posts

Older Posts

Upcoming Events

Aug
06