Retail

NORTHMARQ ARRANGES $2.5M FOR SOUTHPOINT PLAZA

by admin October 29, 2013

EVANSTON, ILL. — NorthMarq has arranged $2.5 million in financing for the redevelopment of Southpoint Plaza, a retail center in metro Chicago that will include Walgreens’ first net-zero energy retail store in the country. Engineers of Walgreens new store predict it will produce energy equal to or greater than it consumes. Walgreens plans to achieve a net-zero energy building by utilizing solar panels, wind turbines, geothermal technology, energy-efficient building materials, LED lighting and ultra-high-efficiency refrigeration. Construction of the new store began in March and is slated for completion in late November. Erik Kunz and Chris Leggee, vice president and assistant vice president of NorthMarq’s Chicago office, arranged the financing.

October 29, 2013

EAGLEBRIDGE ARRANGES $1.3M LOAN FOR DOLLAR GENERAL PLAZA

by admin October 29, 2013

WILLIAMSTOWN, MASS. — EagleBridge Capital has arranged $1.3 million in construction and permanent mortgage financing on behalf of 384 Main Associates for Dollar General Plaza in Williamstown. Ted Sidel and Brian Sheehan, principals at EagleBridge, arranged the financing through a regional institution. Dollar General Plaza is a 10,235-square-foot shopping center located at 384 Main St. Proceeds from the loan will be used to fund the build-out of a new 8,860-square-foot Dollar General store and repay an existing mortgage. The plaza is triple-net leased to Dollar General and Subway, which occupies 1,375 square feet.

October 29, 2013

Retail Texas

MANSOUR GROUP CLOSES HOUSTON LA FITNESS SALE FOR $12M

by admin October 29, 2013

HOUSTON — The Mansour Group of Marcus & Millichap has brokered the sale of an LA Fitness facility in Houston for $12 million. The 45,000-square-foot property is located at 9633 Westheimer Road, in close proximity to Walmart, Home Depot, Target, Kroger and PetSmart, among other retailers. Alvin Mansour of the Mansour Group represented the seller, a major national REIT, in the transaction. Another institutional REIT was the buyer.

October 29, 2013

Retail Western

GOODWILL SUBLEASES 102,284 SF IN GLASSELL PARK

by admin October 28, 2013

GLASSELL PARK, CALIF. — Goodwill Industries of Southern California has subleased 102,284 square feet of big-box retail space in Glassell Park from Home Depot. The space is located at 3150 San Fernando Road. It has been vacant for 10 years. The property will be utilized as a central hub for Goodwill once renovations are complete. Home Depot was represented by J. Richard LeynerandMichael Haim Sharon of NAI Capital’s Encino office.

October 28, 2013

Midwest Retail

BERNARD ARRANGES $2M FOR 11,440 SF RETAIL PROPERTY

by admin October 28, 2013

MACOMB TOWNSHIP, MICH. — Bernard Financial Group has arranged a $2 million loan on behalf of Retail Works Funding LLC for Mill River Marketplace, an 11,440-square-foot retail property in Macomb Township. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan. Starwood Mortgage Capital LLC was the lender. The shopping center is located at the intersection of Hall and Garfield roads, about 30 miles north of Detroit.

October 28, 2013

Northeast Retail

90,000 SF RETAIL ASSET IN WESTPORT SELLS FOR $54.3M

by admin October 28, 2013

WESTPORT, CONN. — The Kowalsky family of Westport has sold The Village, a 90,000-square-foot shopping center in Westport, for $54.3 million to Equity One Inc. As one of Westport’s longtime landowners, the Kowalsky family broke ground on the site in 1969 and completed construction on the center in 1974. The Fresh Market anchors the four-building retail center, which is located on 7.5 acres along both sides of Post Road East. Other tenants include Dunkin’ Donuts, Little Gym, The UPS Store, KOKO Fit Club and SweetFrog. Jon Angel, president, and Brett Sherman, senior vice president of Angel Commercial LLC, a Southport, Conn.-based commercial real estate brokerage firm, represented the seller in the transaction.

October 28, 2013

Retail Texas

BCRE BROKERS SALE OF 23.9 ACRES FOR NEW WAL-MART IN SUBURBAN SAN ANTONIO

by admin October 28, 2013

CIBOLO, TEXAS — Blakeley Commercial Real Estate (BCRE) has brokered the sale of 23.9 acres in Cibolo, a northeastern suburb of San Antonio, to Walmart. The buyer plans to construct a new 189,000-square-foot Walmart Supercenter on the land. The project will break ground in the next few weeks. Lynn Blakeley of BCRE represented the undisclosed seller in the transaction.

October 28, 2013

Retail Western

GOODWILL SUBLEASES 102,284 SF IN GLASSELL PARK

by admin October 28, 2013

GLASSELL PARK, CALIF. — Goodwill Industries of Southern California has subleased 102,284 square feet of big-box retail space in Glassell Park from Home Depot. The space is located at 3150 San Fernando Road. It has been vacant for 10 years. The property will be utilized as a central hub for Goodwill once renovations are complete. Home Depot was represented by J. Richard Leyner and Michael Haim Sharon of NAI Capital’s Encino office.

October 28, 2013

Retail Western

THE MONET AT VICTORIA GARDENS MALL IN RANCHO CUCAMONGA SELLS FOR $13.2M

by admin October 25, 2013

RANCHO CUCAMONGA, CALIF. — Fit Development, LLC has purchased The Monet at Victoria Gardens Mall, a 31,407-square-foot retail center in Rancho Cucamonga, for $13.2 million. The outparcel to Victoria Gardens is located at 12455 Victoria Gardens Lane. Victoria Gardens is a 1.9-million-square-foot mall. Notable tenants at The Monet include Destination XL, Destination Maternity, Shakey’s Pizza and Pacific Dental. Fit Development was represented by Jeff Conover and Matt Mousavi of Faris Lee Investments. The seller was Monet in Rancho Development, LLC.

October 25, 2013

Retail Southeast

FRESH MARKET-ANCHORED SHOPPING CENTER SELLS FOR $13.3M

by admin October 25, 2013

DESTIN, FLA. — Baltimore-based Continental Realty Corp. has acquired Plantation Commons, a 121,402-square-foot neighborhood shopping center located at 4495 Commons Drive W. in Destin. The asset sold for approximately $13.3 million. Fresh Market anchors the shopping center, whose other tenants include Marshalls, Destin Health and Fitness Club and HomeGoods. The center was 70 percent leased at the time of sale. Continental Realty purchased the center from Plantation Plaza at Kelly Plantation LP through CRC Fund III LP. Casey Rosen and Cliff Taylor of CBRE represented the seller in the transaction. Continental Realty was self-represented.

October 25, 2013

Newer Posts

Older Posts

Upcoming Events

Jun
25