Retail

THREE NYC AREA PROPERTIES SELL FOR $26.6M

by admin May 1, 2013

NEW YORK CITY AND POMPTON LAKES, N.J. — Marcus & Millichap has arranged the sale of two retail properties in Manhattan’s West Village and one mixed-use property in Pompton Lakes, N.J. for $26.6 million. The buildings in New York City include 333 Sixth Avenue, a retail condominium that sold for $16.5 million and 192 Seventh Avenue South, a net-leased retail property that sold for $4.1 million. The property in Pompton Lakes, N.J., which includes four mixed-use assets, sold for $6.5 million and is located at 226-247 Wanaque Ave. Mark Gjonbala of Marcus & Millichap represented the buyer of the two Manhattan properties, The Jackson Group, and the sellers, Florida-based YMZ Realty LLC and Tilou Realty Corp. Gjonbalaj also advised the buyer of 226-247 Wanaque Avenue, Ocean Lake Realty LLC, a New Jersey-based investor. Barbara Dansker and Michael Lombardi of Marcus & Millichap represented the seller, Alrose Pompton LLC, in the New Jersey transaction.

May 1, 2013

GIORGIO ARMANI BUILDING IN BEVERLY HILLS CHANGES HANDS

by admin May 1, 2013

BEVERLY HILLS, CALIF. — An 18,205-square-foot retail and office building in Beverly Hills that is fully leased to Giorgio Armani was sold to Jenel Management for an undisclosed sum. The building is located at 9533 Brighton Way between Rodeo and Camden driveswithin the city’s Golden Triangle district. The seller, GLL Real Estate Partners, was represented by Michael Zietsman and Patrick Inglis of Jones Lang LaSalle.

May 1, 2013

Retail Texas

7-ELEVEN RETAINS NRC TO SELL 139 CONVENIENCE STORES

by admin April 30, 2013

DALLAS — Dallas-based 7-Eleven Inc. has retained NRC Realty & Capital Advisors to sell 139 gas stations/convenience stores across the U.S. The stores are located in Texas (83), Florida (31), Ohio (11), Pennsylvania (eight), Utah (five) and Wisconsin (one). Of the Texas stores, 43 are located in Dallas/Fort Worth, 10 in San Antonio, 10 are near Austin and remainder are located throughout east Texas. The store's lot sizes range from 10,000 square feet to 75,000 square feet and the store sizes range from kiosks to 6,700 square feet. All sites are being sold without 7-Eleven branding.

April 30, 2013

Retail Western

LAKEWOOD COLONIAL CENTER CHANGES HANDS IN WASHINGTON

by admin April 29, 2013

LAKEWOOD, WASH. — Lakewood Colonial Center, a 114,691-square-foot retail center, has sold to Westwood Financial Corp. for an undisclosed sum. The center is located at 9400 Gravelly Lake Drive and 9310 Bridgeport Way in Lakewood, which is southwest of Tacoma. It contains two parcels, a 75,000-square-foot North Block and a 40,000-square-foot East Block. Westwood purchased the REO center from a local bank.

April 29, 2013

Retail Texas

MARTIN ROBERTS DESIGN COMPLETES $4.4M SWANN'S STORE

by admin April 29, 2013

TYLER, TEXAS — Martin Roberts Design, a Stamford, Conn.-based retail design company, has completed the flagship store for Swann's Furniture & Design in Tyler. The $4.4 million store is located at 7328 Old Jacksonville Highway. In addition to Martin Roberts design, the project team includes general contractor Abby Developments and structural engineer Mike Marler of P.E./Engineering & Safety Consultants. Swann's Furniture & Design has been in business for 117 years and is now under its fifth generation of ownership.

April 29, 2013

Retail Western

LAKEWOOD COLONIAL CENTER CHANGES HANDS IN WASHINGTON

by admin April 29, 2013

April 29, 2013

Retail Western

DIAMOND HILLS PLAZA IN DIAMOND BAR SELLS FOR $48M

by admin April 26, 2013

DIAMOND BAR, CALIF. — Diamond Hills Plaza, a 139,314-square-foot grocery- and drug-anchored neighborhood retail center in Diamond Bar, has sold to Retail Opportunity Investments Corporation (ROIC) for $48 million. The center is located at 2711 S. Diamond Bar Blvd. It is 99.4 percent leased to tenants like the Asian supermarket chain Super H-Mart, Rite-Aid Pharmacy, Starbucks, Burger King, KFC, HSBC Bank, Pacific Dental and Flame Broiler. The seller, Country Hills Holdings, LLC, was represented by Dixie Walker, Charley Simpson and Tom Blake of Cassidy Turley.

April 26, 2013

Retail Southeast

COLE ACQUIRES $4.6M GROCERY STORE IN SALEM

by admin April 26, 2013

SALEM, N.C. — COLE Capital has acquired a 21,018-square-foot grocery store in Salem, which will be occupied by The Fresh Market, for $4.6 million. The property is part of the Mount Tabor Place Development near Wake Forest University. Sean Patrick and Jason Powell of Ackerman & Co. represented the seller, Mount Tabor Place II LLC, in the transaction.

April 26, 2013

Midwest Retail

KEYBANK CLOSES $46M IN FINANCING FOR STEELYARD COMMONS

by admin April 26, 2013

CLEVELAND, OHIO — KeyBank Real Estate Capital has arranged $46 million in financing for Steelyard Commons, a retail shopping center located at 3447 Steelyard Drive in Cleveland. John Hofmann, Michael Keach and Katie Allinder of KeyBank’s Income Property Group worked with Steelyard Commons LLC to negotiate a $40 million first mortgage through Barclays. The group also secured a $6 million mezzanine loan through Investcorp, which paid off an existing KeyBank loan. Steelyard Commons sits at the intersection of I-71 and Jennings Freeway, along the western edge of Cleveland’s industrial valley. The shopping center, which opened in January 2007, includes a combination of retail stores, restaurants and recreation facilities.

April 26, 2013

Midwest Retail

WOMEN’S EXCHANGE MOVES TO COLONIAL MARKETPLACE

by admin April 26, 2013

LADUE, MO. — The Women’s Exchange, a nonprofit organization, has signed a 10-year, 6,000-square-foot lease at Colonial Marketplace in Ladue, a western suburb of St. Louis. The organization is moving from a 4,000-square-foot location, located at 9214 Clayton Road, into the new space June 2013, when Colonial Marketplace opens. Jeff Altvater of Hilliker Corp. represented The Women’s Exchange, which will spend $500,000 to build out its space, in the transaction. The Women’s Exchange is a marketplace for women to earn a livelihood through the sale of their handmade goods. The DESCO Group and Idea Architects will renovate the store.

April 26, 2013

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