Retail

CBRE ARRANGES SALE OF TWO NET LEASE RESTAURANT BUILDINGS

by admin July 16, 2013

CORAL SPRINGS, FLA. — CB Richard Ellis (CBRE) has arranged the sale of two net-leased restaurant buildings in Coral Springs. Bonefish Grill leases a 5,000-square-foot, freestanding building at 1475 University Drive. Wendy’s occupies and holds the ground lease to the adjacent 3,000-square-foot, freestanding building at 1455 University Drive. The tenants have been at these locations since 2004. David Donnellan and Todd Weintraub of CBRE’s Fort Lauderdale office represented the seller, a private REIT. The buyer was North University Properties LLC.

July 16, 2013

GRANADA SHOPPING CENTER IN LIVERMORE SELLS FOR $17.5M

by admin July 15, 2013

LIVERMORE, CALIF. — Granada Shopping Center, a 69,325-square-foot shopping center in Livermore, has sold to Retail Opportunity Investments Corp. for $17.5 million. The center is located at 1951 Holmes Street. It was 91 percent leased at the time of sale. Granada is anchored by Lucky Supermarket. Other tenants include Fairmont Bank, Cosmo Prof, Curves, Subway and Country Waffles. The seller was Granada Retail, LLC. Edward B. Hanley of Hanley Investment Group Real Estate Advisors assisted with the sale.

July 15, 2013

Retail Texas

320,352 SF INDEPENDENCE PLAZA IN LAREDO SELLS TO PARTNERSHIP

by admin July 15, 2013

LAREDO, TEXAS — Marcus & Millichap has brokered the sale of Independence Plaza, a 320,352-square-foot, grocery-anchored retail center located at 1911 Bob Bullock Loop in Laredo. James Bell of Marcus & Millichap's Houston office represented the seller, a Texas-based limited partnership, in the transaction. The buyer is a publicly traded REIT. The retail center was built in phases between 2007 and 2013. A 147,324-square-foot H-E-B Plus anchors the center, and the other tenants include T.J. Maxx, Hobby Lobby, Ross Dress for Less, Ulta Beauty, Petco, Wells Fargo and Chili's.

July 15, 2013

Retail Texas

CBRE ARRANGES SALE OF SHELDON FOREST SHOPPING CENTER

by admin July 15, 2013

CHANNELVIEW, TEXAS — CBRE's National Retail Investment Group has secured the sale of of Sheldon Forest Shopping Center, a 97,380-square-foot property located at 450 Sheldon Road in Channelview, 16 miles east of Houston. Gerland's Food Fair anchors the center, and its other tenants include Family Dollar and Burke's Outlet. Phase I and II of the center are both fully occupied. Capcor Partners purchased the center from Weingarten Realty Investors. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller in the transaction. Jeff Stein of CBRE's Houston office arranged the acquisition financing for the transaction.

July 15, 2013

Retail Western

GRANADA SHOPPING CENTER IN LIVERMORE SELLS FOR $17.5M

by admin July 15, 2013

July 15, 2013

Retail Western

BODY GLOVE CORPORATE HEADQUARTERS IN REDONDO BEACH RECEIVES $3M LOAN

by admin July 12, 2013

REDONDO BEACH, CALIF. — Body Glove International has received a $3-million loan to renovate and convert its Redondo Beach Dive n’ Surf store into its new corporate headquarters. The company’s headquarters will occupy the second floor, while the renovated Dive n’ Surf store will remain on the ground floor. The space, which is located at 504 N. Broadway, will expand from 6,464 square feet to nearly 14,800 square feet. This expansion will allow Body Glove to consolidate its operations and recommit to the South Bay while it continues to grow its brand globally. As part of the renovations efforts, Body Glove will also make enhancements to the surrounding streets to improve accessibility and aesthetics. The project is scheduled for completion in August 2013, which will coincide with the company’s 60th anniversary. Founded in 1953 by twin brothers Bill and Bob Meistrell, Body Glove is one of the last original Southern California surf companies to remain under family ownership. Financing was arranged by Jeff Spinelli of Farmers & Merchants Bank.

July 12, 2013

Midwest Retail

COLERAIN TOWNE CENTRE IN CINCINNATI SELLS FOR $30M

by admin July 12, 2013

CINCINNATI — Oakbrook Terrace, Ill.-based Mid-America Real Estate Corp. has brokered the $30 million sale of Colerain Towne Centre, a 400,000-square-foot power center in Cincinnati. A private real estate company purchased the center from New York-based Kimco Realty. Walmart Supercenter, Dick’s Sporting Goods, Jo-Ann Fabrics, PetSmart and Hobby Lobby anchor Colerain Towne Centre, which is located on the northeast quadrant of Colerain Avenue and I-275. Joe Girardi and Ben Wineman of Mid-America Real Estate Corp. represented the seller in the transaction in cooperation with Amy Holter of Anchor Associates. The buyer was self-represented.

July 12, 2013

Midwest Retail

SEVA RESTAURANT LEASES 5,500 SF AT WESTGATE SHOPPING CENTER IN ANN ARBOR

by admin July 12, 2013

ANN ARBOR, MICH. — Seva Restaurant has signed an eight-year lease for 5,500 square feet at Westgate Shopping Center in Ann Arbor. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the landlord, Westgate Shopping Center, and the tenant in the transaction. Seva Restaurant is a local vegetarian eatery currently based in downtown Ann Arbor.

July 12, 2013

Northeast Retail

M&M BROKERS SALE OF TWO NET-LEASED BUILDINGS FOR $1.1M

by admin July 12, 2013

NEW HAVEN AND EAST HAVEN, CONN. — Marcus & Millichap has arranged the sale of two net-leased buildings occupied by Kentucky Fried Chicken for a combined total of $1.1 million in New Haven and East Haven. The transaction includes a 2,841-square-foot property located at 451 Foxon Blvd. in New Haven; and a 2,314-square-foot property located at 650 Main St. in East Haven. Glen Kunofsky and Todd Pajonas of Marcus & Millichap’s Manhattan office represented the seller, a private investor. Adam Mancinone and Blake Barbarisi of Marcus & Millichap’s New Haven office represented the buyer, also a private investor.

July 12, 2013

Retail Texas

RESTAURANT CRAVE PLANS NEW LOCATION IN AUSTIN

by admin July 12, 2013

AUSTIN, TEXAS — CRAVE, which features eclectic American cuisine, is opening a new location in the 8,500-square-foot former Roy’s restaurant space at 340 E. Second St. in Austin’s Convention Center District. The space has been vacant for more than three years. Currin J. Van Eman, vice president, of NAI REOC Austin, and Jack Breard, president of UCR Urban, represented CRAVE in the transaction. Mike Joyce with the retail group Live Oak-Gottesman represented the landlord, Gottesman Co. The restaurant is slated to open in the first quarter of 2014.

July 12, 2013

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