Retail

NAI HIFFMAN EXPANDS RETAIL MANAGEMENT IN SUBURBS

by admin August 2, 2013

OAKBROOK TERRACE, ILL. — NAI Hiffman has been awarded management and leasing assignments for Tower Station in West Chicago, Railway Plaza in Naperville and Nelson Plaza in New Lenox. The addition of the three properties expands NAI Hiffman’s retail management and leasing portfolio in the Chicago metropolitan area to more than 56.6 million square feet. Tower Station, a 23,184-square-foot strip center located at 956 N. Neltnor Blvd., is shadow-anchored by Aldi grocery store. Railway Plaza, a shopping center located at 572 Western Ridge Court, is anchored by Starbucks. Nelson Plaza, a 32,655-square-foot shopping center located at 402-414 Nelson Road, has three vacant units ranging in size from 1,322 to 6,029 square feet.

August 2, 2013

NEC COMPLETES ROCK CLIMBING FACILITY IN METRO BOSTON

by admin August 2, 2013

SOMERVILLE, MASS. — New England Construction (NEC) has completed construction on Brooklyn Boulders Somerville, a 38,000-square-foot rock-climbing, bouldering and fitness facility in northwest Boston near Union Square. NEC began construction on the facility, which includes a 40-foot long, 22-foot tall bouldering wall, earlier this year. The tenant, Brooklyn Boulders, worked with climbing wall designer Vertical Solutions and architecture firm Arrowstreet, to design the facility. Additionally, some of the amenities of the new facility include meeting space atop the 22-foot tall bouldering wall, a glass-enclosed lounge with fireplace, 40-indoor bike parking spaces, cardio and fitness areas and locker rooms.

August 2, 2013

Retail Texas

TWO LA FITNESS LOCATIONS COMING TO CENTRAL TEXAS

by admin August 2, 2013

SAN ANTONIO AND ROUND ROCK, TEXAS — With space secured for two new locations, sports club chain LA Fitness will expand into central Texas. Venture Commercial Real Estate has brokered leases for 45,000 square feet in the second phase of an existing development at Loop 410 and Military Drive in San Antonio and 35,000 square feet in a new development at Highway 620 and O’Connor Drive in Round Rock. John Zikos, Jonathan Cooper and Chris Booras of Venture represented LA Fitness in both deals. Whit Jordan and Thomas Tyng of REATA Real Estate Services represented the landlord in San Antonio, while Barclay Real Estate Services LLC in Round Rock represented itself.

August 2, 2013

Retail Texas

MORRIS-FLOYD ACQUIRES 159,000 SF SHOPPING CENTER

by admin August 2, 2013

FORT WORTH, TEXAS — Morris-Floyd Capital Partners of Fort Worth has purchased Wolfin Village, a 159,000-square-foot outdoor shopping center in Amarillo. The property, located at 2015 S. Georgia Street and Interstate 40, is anchored by Talbot’s, Office Depot and Shepler’s Boots ’n Jeans. Built in 1953 and renovated in 2009, it currently stands at 94 percent occupancy. Chris Cosby and Chris Gerard of CBRE brokered the sale.

August 2, 2013

Retail Southeast

HFF ARRANGES $13.4 MILLION LOAN FOR FLORIDA POWER CENTER

by admin August 1, 2013

WINTER HAVEN, FLA. — Holliday Fenoglio Fowler (HFF) has arranged a $13.4 million senior loan for Winter Haven Citi Centre, a 185,705-square-foot power center located in Winter Haven. Situated on 29.5 acres at the intersection of Highway 17 and Avenue K, the center is anchored by Macy’s, Belk, Staples and Pier One Imports. Occupancy was 96.8 percent at the time of closing. The HFF team of Chris Drew and Jose Carrazana arranged the loan on behalf of the borrower, a joint venture between Schmier & Feurring Properties and Independencia Asset Management. The financing carries a 10-year term and was provided by a CMBS lender.

August 1, 2013

Midwest Retail

SAKS FIFTH AVENUE OFF 5TH OPENS STORE IN METRO CHICAGO

by admin August 1, 2013

ROSEMONT, ILL. — Saks Fifth Avenue OFF 5TH has opened a new 27,000-square-foot store in metro Chicago. The store will be located in the Fashion Outlets of Chicago. The will be the fourth Saks Fifth Avenue OFF 5TH location in the Chicago area and be the second store in metro Chicago to be modeled after the company’s luxury-in-a-loft design. The modern and uncluttered layout includes an open floor plan, moveable fixtures and bright lighting. Saks Fifth Avenue OFF 5TH’s other Chicago-area stores are located in Gurnee Mills, Woodfield Village Green and Village Square of Northbrook.

August 1, 2013

Northeast Retail

MARCUS & MILLICHAP ARRANGES $2.1M SALE OF RETAIL PROPERTY

by admin August 1, 2013

HERKIMER, N.Y. — Marcus & Millichap has arranged the $2.1 million sale of a 2,132-square-foot, net-leased property in Herkimer, located 16 miles southeast of Utica. A Kentucky Fried Chicken and Taco Bell occupy the property, which signed a new 20-year lease at the closing of the deal. Glen Kunofsky and Judson Kauffman of Marcus & Millichap’s Manhattan office represented the seller and the buyer, private investors, in the transaction. KFC / Taco Bell is located at 200 South Caroline St.

August 1, 2013

Northeast Retail

HAMPSHIRE BUYS 67,000 SF OF RETAIL SPACE IN ALBANY

by admin August 1, 2013

ALBANY, N.Y. — The Hampshire Cos. has acquired a 66,000-square-foot retail property and an adjacent 1,000-square-foot gas station in Albany from Columbia Development Co. ShopRite, a subsidiary of Wakefern Food Corp., fully occupies the 66,000-square-foot building. The new grocery store is the third of four new locations for ShopRite in the Albany market this year. The property is located at 711 Central Ave.

August 1, 2013

Retail Texas

MARCUS & MILLICHAP BROKERS $6.75M KATY SALE

by admin August 1, 2013

KATY, TEXAS — Katy Park Plaza in Katy has sold to a private investor for $6.75 million. The 68,865-square-foot retail property is located at 406 W Grand Parkway S. Gus Lagos, senior associate at Marcus & Millichap's Houston office, represented the seller in the transaction, while Alex Bouchard, also of Marcus & Millichap’s Houston office, secured the buyer.

August 1, 2013

Retail Southeast

MORGAN PROPERTY GROUP TO DEVELOP TWO 7-ELEVEN STORES

by admin July 31, 2013

CHARLOTTE, N.C., AND VERONA, VA. — Morgan Property Group has announced plans to develop two new 7-Eleven convenience stores in North Carolina and Virginia. In Charlotte, construction will begin in October for a 2,940-square-foot convenience store with six pumping stations and an outparcel. The new store will be located at the corner of North Wendover Road and Marvin Road. Completion is slated for the first quarter of 2014. In Verona, Morgan will retrofit an existing 2,173-square-foot convenience store located at 6 Lodge Lane into a 7-Eleven store. The store will feature four pumping stations and will be attached to a Wendy’s restaurant. Completion is slated for this fall.

July 31, 2013

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