Retail

MARCUS & MILLICHAP BROKERS BOCA RATON RETAIL DEAL FOR $5M

by admin April 8, 2013

BOCA RATON, FLA. — Marcus & Millichap has arranged the $5 million sale of a Sound Advice, a vacant retail building and development site situated on two adjacent parcels in Boca Raton. 331-335 Yamato Road includes Sound Advice, an electronics retailer, and a vacant retail building formerly housed by Pizza Hut. The property also includes 99 parking spaces. Douglas Mandel and Benjamin Silver of Marcus & Millichap represented the seller, a private real estate company in Boca Raton, in the transaction. Mandel and Silver also represented the buyer, a limited liability company.

April 8, 2013

RETAIL, OFFICE PORTFOLIO IN DOWNTOWN SAN LUIS OBISPO CHANGES HANDS

by admin April 5, 2013

SAN LUIS OBISPO, CALIF. – A 10-property retail and office portfolio in downtown San Luis Obispo totaling 223,000 square feet has sold to Jamestown for an undisclosed sum. The retail portion contains seven assets, including Court Street Centre and Downtown Centre, and totals 195,000 square feet. Notable tenants throughout the properties include Barnes & Noble, Urban Outfitters, Pottery Barn, Abercrombie & Fitch, Express, Gap, Banana Republic, Victoria’s Secretand Apple. An additional 25,000 square feet is still available for lease. The office portion contains three properties bounded by Chorro, Osos, Monterey and Marsh streets that total 28,000 square feet.

April 5, 2013

Retail Texas

NORTH HOUSTON TO RECEIVE FIRST WHOLE FOODS MARKET

by admin April 5, 2013

HOUSTON — Houston-based Read King Commercial Real Estate has begun to develop a 40,443-square-foot Whole Foods Market. The store, which will be located at Louetta and Cutten roads in north Houston, will be the area's first Whole Foods store. The grocery chain will anchor the first phase of Vintage Marketplace, an 18-acre development within The Vintage, a 630-acre mixed-use development. Gensler Architects will design the new store, in addition to its 31,000 square feet of small shop space, and Arch-Con Corp. will serve as the project's general contractor. Read King was self-represented by Tony Patronella and Christie Amezquita in the land transaction. Read King worked directly with the seller, LCSE Limited Partnership. Amezquita also represented the landlord in the lease transaction with Whole Foods. Jeff Hayes and Tal McIver of New Quest Properties represented Whole Foods.

April 5, 2013

Retail Western

RETAIL, OFFICE PORTFOLIO IN DOWNTOWN SAN LUIS OBISPO CHANGES HANDS

by admin April 5, 2013

SAN LUIS OBISPO, CALIF. – A 10-property retail and office portfolio in downtown San Luis Obispo totaling 223,000 square feet has sold to Jamestown for an undisclosed sum. The retail portion contains seven assets, including Court Street Centre and Downtown Centre, and totals 195,000 square feet. Notable tenants throughout the properties include Barnes & Noble, Urban Outfitters, Pottery Barn, Abercrombie & Fitch, Express, Gap, Banana Republic, Victoria’s Secret and Apple. An additional 25,000 square feet is still available for lease. The office portion contains three properties bounded by Chorro, Osos, Monterey and Marsh streets that total 28,000 square feet.

April 5, 2013

Retail Western

BEST BUY BUILDING IN MODESTO SELLS FOR $6M

by admin April 4, 2013

MODESTO, CALIF. — A 45,950-square-foot retail property in Modesto that is leased to Best Buy has sold to an unnamed buyer for $6 million. It is located off State Highway 99 and Sisk Road. There are seven years remaining on Best Buy’s 20-year, absolute triple-net lease. The lease also offers three, five-year renewal options with rental increases every five years. Rod Pickney and Chad Byerly of Stan Johnson Company represented the unnamed seller in this transaction.

April 4, 2013

Retail Southeast

PRESTIGE ACQUIRES $30.2M SHOPPING CENTER IN LUTZ

by admin April 4, 2013

LUTZ, FLA. — Prestige Properties & Development has closed on its purchase of Van Dyke Commons, a 139,347-square-foot community center in Lutz for $30.2 million. Tenants include LA Fitness, Home Goods and Golfsmith. iStar Financial was the seller.

April 4, 2013

Retail Southeast

BLUE RIDGE ACQUIRES TWO VALUE-ADD RETAIL CENTERS IN METRO ATLANTA

by admin April 4, 2013

BUFORD, GA. — Blue Ridge Capital LLC has acquired two value-add retail centers in Buford, approximately a half-mile from I-985 along Lanier Islands Parkway, for $2.5 million. The sale included the 23,750-square-foot Friendship Village, a neighborhood center that includes tenants such as All Eyes Vision, Lanier Dental and La Cazuela, a Mexican restaurant. The second property is the 23,450-square-foot Shoppes at Friendship, with tenants such as Subway, Vinny's New York Pizza and Ark Veterinary Hospital. State Farm also finalized a 1,050-square-foot lease at the property at the close of the deal. Blue Ridge plans to renovate the properties, which were approximately 60 percent vacant at the time of sale.

April 4, 2013

Midwest Retail

PARAGON ACQUIRES FORMER WICKES FURNITURE BUILDING IN BATAVIA, ILL.

by admin April 4, 2013

BATAVIA, ILL.— Paragon Real Estate has purchased the 42,500-square-foot former Wickes Furniture building in Batavia, a suburb of Chicago. The Oak Brook, Ill.-based developer has also executed a lease for the property, located at 165 N. Randall Road, with Art Van Furniture. The location is one of several that Warren, Mich.-based Art Van Furniture plans to open in the Chicago area in 2013. The furniture retailer, which operates 36 stores throughout Michigan, plans to take occupancy of the freestanding building this summer. The building is shadow-anchored by a Target and a new Chick-fil-A, which opened adjacent to the property in February. Michael Havdala and Brenton Schrader of Chicago-based HSA Commercial Real Estate represented the seller, US Bank, in the transaction. Stan Bobowski and Chris Bobowski, of Naperville, Ill.-based Bobowski Commercial Real Estate represented the tenant, Art Van Furniture.

April 4, 2013

Midwest Retail

MCKINLEY NAMES COLLIERS LEASING AGENT FOR GREEN OAK VILLAGE PLACE

by admin April 4, 2013

BRIGHTON, MICH. – McKinley Inc. has named Colliers International the leasing agent for Green Oak Village Place in Brighton, Mich. The 315,000-square-foot retail property site is located alongside U.S. Route 23, just south of I-96. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor have listed the available retail spaces.

April 4, 2013

Retail Texas

COHEN BROKERS SALE OF WILLOWCHASE SHOPPING CENTER

by admin April 4, 2013

HOUSTON — New York City-based Cohen Real Estate has arranged the sale of Willowchase Shopping Center, a 273,274-square-foot center located at 12792 Willow Chase Drive in Houston. A 92,818-square-foot Fiesta Mart anchors the shopping center, which is 85 percent leased to tenants such as Jo-Ann Fabrics, Family Dollar and Dots. Helen Putterman and Vera Thomas of Cohen Real Estate procured the buyer, Houston-based Fidelis Capital Partners, in the transaction. Putterman and Thomas also represented the seller, Virginia Beach, Va.-based Wheeler Interests.

April 4, 2013

Newer Posts

Older Posts