Retail

DEE DAA SIGNS 2,790 SF RETAIL LEASE AT 31 PENN PLAZA IN NYC

by admin March 15, 2013

NEW YORK CITY — Dee Daa, an authentic Thai eatery, has signed a 10-year lease for 2,790 square feet of retail space at 31 Penn Plaza in New York City. Dee Daa will occupy a portion of the ground floor. Founded by Mallika Sukjaro, a Thailand native, Dee Daa offers fast casual Thai food with a healthy spin and authentic Thai ingredients. Amy Zhen and Mark Frankel of Newmark Grubb Knight Frank procured the tenant and represented the landlord, an affiliate of Savanna, a New York-based private equity firm, in the transaction.

March 15, 2013

M&M ARRANGES SALE OF PARK ROW PLAZA IN HOUSTON

by admin March 15, 2013

HOUSTON — Marcus & Millichap has secured the sale of Park Row Plaza, a 9,380-square-foot shopping center located at 14838 Park Row in Houston's Energy Corridor. The shopping center's list price was $1.48 million. Derek Hargrove and Justin Miller of Marcus & Millichap's Houston office represented the seller, a Houston-based private investor, in the 1031 exchange. Hargrove and Miller also secured the buyer, a trust based in California.

March 15, 2013

Retail Western

DOWNTOWN PLEASANT HILL SHOPPING CENTER SELLS FOR $100M

by admin March 15, 2013

PLEASANT HILL, CALIF. – Downtown Pleasant Hill Shopping Center has sold to an account advised by UBS Global Asset Management for $100 million. The 345,687-square-foot shopping center is located at Crescent Drive at Contra Costa Boulevard in Pleasant Hill, which is northeast of Oakland. Notable tenants at the center include Century Theaters, Lucky Supermarket, Bed Bath & Beyond, Michaels, Ross, Golfsmith, Paul Mitchell the School, Carter’s and Zachary’s Chicago Pizza. The seller, Loja Real Estate, LLC, was represented by Kevin Van Voorhis, James Kaye, Jay Gomez and Lindsey Lantis of Colliers International.

March 15, 2013

Retail Western

THE PLAZA LAS AMERICAS IN THORNTON SELLS FOR $3.4M

by admin March 15, 2013

THORNTON, COLO. — The Plaza Las Americas, an in-line, shadow-anchored, multi-tenant retail building in Thornton, has sold to an unnamed buyer for $3.4 million. It is located at 810-880 E. 88th Ave. The inline retail center resides on both sides of Walmart Neighborhood Market. The property is nearly 91 percent leased. The buyer was represented by Matt Ritter at Pinnacle Real Estate Advisors. The unnamed seller was represented by Tom Ethington and Rob Edwards, also of Pinnacle.

March 15, 2013

Retail Western

EL SUPER RETAIL BUILDING IN FRESNO SELLS FOR $8.7M

by admin March 14, 2013

FRESNO, CALIF. — A 52,400-square-foot retail property in Fresno that is triple-net leased to El Super supermarket has sold to Super AB, LLC for $8.7 million. The property is located at 3190 East Tulare Street within the Heritage Square retail center. The buyer was represented by Matt Mousavi of Faris Lee Investments. The seller, Tulare & 1st Fresno, LLC, was represented by CBRE’s Art Flores.

March 14, 2013

Retail Southeast

$46M CONSTRUCTION LOAN PAVES WAY FOR PIER PARK NORTH SHOPPING CENTER

by admin March 14, 2013

PANAMA CITY BEACH, FLA. — A joint venture of The St. Joe Co., Casto and Strategic Retail Advisors has received a $46 million construction loan from U.S. Bank to finance The Pier Park North Shopping Center. The 360,000-square-foot center will be located in Panama City Beach across from the Pier Park Lifestyle Center at the intersection of U.S. Highway 98 and State Road 79. Dick's Sporting Goods, Michaels, Pier 1 Imports and Kirkland's committed last fall to anchor the center. Additional tenants will include Bed Bath & Beyond, Mattress Firm, Men's Warehouse, PetSmart, Rooms to Go and Shoe Carnival. The Pier Park North Shopping Center will open in spring 2014. A Casto-affiliate, based in Sarasota, Fla., will develop the center.

March 14, 2013

Retail Southeast

CREC SELECTED TO LEASE EIGHT CENTERS IN FLORIDA

by admin March 14, 2013

MIAMI — Continental Real Estate Cos. (CREC) has been selected as the leasing agent for eight shopping centers in South Florida totaling 629,060 square feet. The retail properties include El Mercado, Clewiston Town Center, Polo Grounds Mall, #1 Marketplace, The Shops of Bird Road, Tropical Plaza, Gables Grand Plaza and Red Road Commons. The firm will also manage El Mercado and Clewiston Town Center. Carlos Guzman, Steven Henenfeld, Mitchell Boxer and Ruben Suarez of CREC will lead the retail leasing team.

March 14, 2013

Retail Southeast

BOULDER GROUP ARRANGES $11M WALGREENS SALE IN NORTH MIAMI BEACH

by admin March 14, 2013

NORTH MIAMI BEACH, FLA. — The Boulder Group has arranged the $11 million sale of a triple net-leased Walgreens property at 15050 Biscayne Blvd. in North Miami Beach. The 14,500-square-foot property was built in 2010 and the lease features a unique 11 percent rental escalation in the primary lease term. Walgreens has 22 years remaining on its lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Montreal, Canada-based private partnership, in the transaction. The buyer was a Massachusetts-based limited partnership.

March 14, 2013

Midwest Retail

BERNARD FINANCIAL GROUP ARRANGES $2M LOAN FOR CVS STORE IN MICHIGAN

by admin March 14, 2013

COMMERCE TOWNSHIP, MICH. — Bernard Financial Group has arranged a $2 million loan for a building occupied by CVS/Pharmacy. The 10,880-square-foot building is located in Commerce Township, about 35 miles west of Detroit. The borrower is Bogie Commerce Associates II LLC. Dennis Bernard and David Dismondy of Southfield, Mich.-based Bernard Financial Group originated the loan.

March 14, 2013

Midwest Retail

NORTHERN TOOL SIGNS TWO RETAIL LEASES IN THE ST. LOUIS AREA

by admin March 14, 2013

ST. PETERS AND ARNOLD, MO. — Northern Tool + Equipment has signed two, 10-year retail leases in metro St. Louis. One lease was for a 15,061-square-foot building in the Cave Springs Shopping Center, located at 4055 Veterans Memorial Parkway in St. Peters about 30 miles west of St. Louis. Mike Swearngin of Pace Properties represented the landlord in the St. Peters transaction. The second lease was for a 15,631-square-foot building, located at 233 Arnold Crossroads Center in Arnold about 18 miles south of St. Louis. Tom Egan of Wm. Boudoures Co. represented the landlord in the Arnold transaction. Burnsville, Minn.-based Northern Tool + Equipment has more than 70 locations in 14 states and sells a wide variety of products, ranging from consumer goods to industrial and construction equipment. Venture Commercial represented Northern Tool in both transactions.

March 14, 2013

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