Retail

M&M ARRANGES $1.6M SALE OF RETAIL PROPERTY IN WILMINGTON

by admin July 19, 2013

WILMINGTON, DEL. — Marcus & Millichap has arranged the $1.6 million sale of, a 2,315 square-foot net-leased property located in Wilmington. Kentucky Fried Chicken and Taco Bell occupy the building, which is located at 1917 Lancaster Ave. Russell Wachtler, investment associate, and Glen Kunofsky, executive vice president investments at Marcus & Millichap’s Manhattan office, along with Donald MacLaren, first vice president investments of Marcus & Millichap’s Philadelphia office, marketed the property on behalf of the seller, a private investor.

July 19, 2013

MCCARTHY COMPLETES AT&T PERFORMING ARTS CENTER INFO CENTER

by admin July 19, 2013

DALLAS — McCarthy Building Cos. Inc. has completed the AT&T Performing Arts Center Information Center, a 1,800-square-foot facility located on the west end of Sammons Park in the Dallas Arts District. Foster + Partners is the architect for the project. The facility features a box office, AT&T Experience Wall and a café operated by Pearl Cup Coffee. Justin Nunn of McCarthy is the project manager.

July 19, 2013

Retail Texas

STOCKDALE INVESTMENT BUYS THE SHOPS OF HIGHLAND PARK

by admin July 19, 2013

DALLAS — Stockdale Investment Group has purchased The Shops of Highland Park, a 45,000-square-foot retail property located at 4200 Oak Lawn Ave. in Dallas. The center is home to retailers and restaurants including La Duni, Carbone’s, Flywheel and The Dry Bar. The property also includes an adjacent 50,000-square-foot parking lot. The Shops of Highland Park has undergone two major renovations since its original development in 1940. The seller was Corrigan Properties, the original owner of The Shops for more than 70 years.

July 19, 2013

Retail Western

HIGHPOINT MARKETPLACE IN AURORA RECEIVES $15M IN REFINANCING

by admin July 19, 2013

AURORA, COLO. — HighPoint Marketplace, a 99,433-square-foot retail center, has received $15 million in refinancing. It is located at 18648-18860 E. Hampden Ave. and 3594 S. Tower Road. The center was built in 2001 and is anchored by a 55,580-square-foot Safeway. Other notable tenants include Great Clips, Wendy’s and H&R Block. Financing was arranged by John M. Stewart and Ilan Reissner of NorthMarq Capital’s Denver regional office.

July 19, 2013

Retail Southeast

CRONHEIM ARRANGES $10.6 MILLION LOAN FOR HOME DEPOT

by admin July 18, 2013

KEY WEST, FLA. — Cronheim Mortgage has arranged $10.6 million in financing for The Home Depot located on North Roosevelt Boulevard in Key West. The property contains 90,000 square feet of space with an additional 16,000-square-foot garden center. Dev Morris and Andrew Stewart of Cronheim arranged the self-liquidating loan, which carries a term of 19 years and 10 months as well as a 3.63 percent interest rate. The borrower was Industries Exchange No. 2 LLC.

July 18, 2013

Northeast Retail

LINEAR RETAIL BREAKS GROUND ON DANIEL WEBSTER SHOPS

by admin July 18, 2013

NASHUA, N.H. — Linear Retail Properties LLC has started construction on Daniel Webster Shops, a single-story shopping center redevelopment in Nashua, about 20 miles south of Manchester. The 12,000-square-foot retail property is located at 219 Daniel Webster Highway. Burlington, Mass.-based Linear Retail purchased the development site from Cumberland Farms in December 2012. Joel Kadis, partner of leasing at Linear Retail, will oversee leasing of the site.

July 18, 2013

Restaurant Texas

CBRE HELPS VERTS CONTINUE AUSTIN EXPANSION

by admin July 18, 2013

AUSTIN, TEXAS — CBRE has arranged a 2,200-square-foot lease for VERTS, an Austin-based Mediterranean-style restaurant, located at 1801 E. 51st St. in Austin’s Mueller Market District. The restaurant will open in late July. John Heffington with CBRE represented the tenant. Britt Morrison with the Weitzman Group represented the landlord, Catellus. This restaurant will be VERTS seventh location in the Mueller neighborhood.

July 18, 2013

Restaurant Southeast

MARCUS & MILLICHAP COMPLETES $4.35 MILLION NET LEASE SALE

by admin July 17, 2013

NORTH MIAMI BEACH, FLA. — Marcus & Millichap has completed the sale of North Miami Beach Ale House for $4.35 million. The 8,999-square-foot restaurant is located at 3227 NE 163rd St. North Miami Ale House has been open for 14 years and currently has 12 years remaining on a triple-net lease, which also includes two five-year options. Adam Tiktin and Michael Biama of Marcus & Millichap’s Miami office represented the seller, a private investor from Boca Raton, as well as the buyer, a private investor from Aventura.

July 17, 2013

Retail Western

BORONDA PLAZA IN SALINAS CHANGES HANDS

by admin July 17, 2013

SALINAS, CALIF. — Boronda Plaza, a 93,796-square-foot, grocery-anchored retail center in Salinas, has sold to Phillips Edison-ARC Shopping Center REIT Inc. for an undisclosed sum. The center is located at 1576 North Sanborn Road. It was built in 2002 and boasts a 95 percent occupancy. Boronda is anchored by a 59,412-square-foot Food 4 Less. The seller, Donahue Schriber, was represented by HFF’s Nicholas Bicardo, Mark Damiani and Bryan Ley.

July 17, 2013

Midwest Retail

RETAIL BUILDING SELLS FOR $7.9M IN METRO DETROIT

by admin July 17, 2013

DEARBORN HEIGHTS, MICH. — Landmark Commercial Real Estate Service Inc. has arranged the $7.9 million sale of a retail property in Dearborn Heights, about 15 miles west of Detroit. Walgreens fully occupies the property, which is located at 25700 Ford Road. Daniel Kukes and Kevin Baker of Landmark Commercial Real Estate Services Inc. represented the buyer, a non-traded REIT, in the transaction. John Kello, also of Landmark, represented the seller, a Michigan-based developer.

July 17, 2013

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