Retail

LORMAX STERN DEVELOPMENT CO. ACQUIRES MACOMB MALL

by admin June 5, 2013

ROSEVILLE, MICH. — Lormax Stern Development Co. has purchase Macomb Mall, located at 32233 Gratiot Ave. in Roseville. Constructed in 1964, the 921,000-square-foot Macomb Mall is located near I-94. The new owners plan to renovate the single-story building, which include both interior and exterior upgrades. The sale price of the property was undisclosed. Macomb Mall features more than 85 specialty stores, including Aeropostale, American Eagle Outfitters, Bath & Body Works, Charlotte Russe, Helzberg Diamonds, and resturants such as National Coney Island and Olga’s Kitchen.

June 5, 2013

GANDER MOUNTAIN TO ADD FOUR NEW STORES IN TEXAS

by admin June 5, 2013

TEXAS — Gander Mountain, an outdoor equipment retailer based in St. Paul, Minn., has plans to open four new stores in Texas this fall. The four stores will be located in Lewisville, Mesquite, Round Rock and San Antonio. The Lewisville store will be located at 723 Hebron Parkway in the Lakepointe Towne Crossing Shopping Center and will span 45,000 square feet. The Mesquite store will be home to the first Gander Mountain Firearms Super Center in Texas. The 31,000-square-foot store will be located at 3775 Childress Ave. The Round Rock store will span 49,000 square feet and be located in the Round Rock Shopping Center at 3021 S. Interstate 35. The San Antonio store will also span 49,000 square feet and be located in the Westover Marketplace Shopping Center at 8203 State Highway 151. The retailer expects to create approximately 350 jobs with the new stores.

June 5, 2013

Retail Texas

CBRE BROKERS SALE OF BRYAN TOWNE CENTER

by admin June 5, 2013

COLLEGE STATION, TEXAS — CBRE'S National Retail Investment Group has arranged the sale of Bryan Towne Center, a 52,268-square-foot retail center in College Station. New Jersey-based Lamar Cos. purchased the property, which is 66 percent leased to retailers such as Dollar Tree, Rack Room Shoes, Maurice's and rue21. The center is also shadow-anchored by Target. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller, a subsidiary of BMO Harris Bank N.A., in the transaction.

June 5, 2013

Retail Western

TRION PROPERTIES SELLS VISALIA CENTER FOR $4 MILLION

by admin June 4, 2013

VISALIA, CALIF. – Trion Properties, a Los Angeles-based real estate investment company, has sold a 57,254-square-foot shopping center located at 3230-3298 S. Mooney Blvd. in Visalia to a family trust for $4 million, or roughly $70 per square foot.Trion Properties acquired a nonperforming note on the asset in 2012 in an all-cash transaction from a regional bank, which had to remove it from their books by year-end. Nick Whitstone at CBRE handled the note transaction. The property reverted to Trion in a foreclosure sale on February 4, and Trion immediately listed the property for sale with Mark Denholm from CORE Commercial, who represented Trion in the disposition. The property, which was built in 1977, was approximately 60 percent leased at the time of the sale with a tenant roster that includes King Buffet and Tuesday Morning.

June 4, 2013

Retail Western

LAND FOR FERRARI MASERATI DEALERSHIP IN TORRANCE SELLS FOR $2.3M

by admin June 4, 2013

TORRANCE, CALIF. – A 28,500-square-foot land parcel in Torrance has sold to Beverly Hills Ferrari Maserati for $2.3 million. The parcel is located at 23305 Hawthorne Blvd. It is slated for a 20,000-square-foot Ferrari Maserati dealership. Beverly Hills Ferrari Maserati was represented by Sheri Messerlianof NAI Capital’s South Bay office. The seller was Vivial Markham Trust.

June 4, 2013

Retail Southeast

LAKESTAR ACQUIRES POWER CENTER FROM KIMCO JV

by admin June 4, 2013

MOBILE, ALA. — Lakestar Properties has acquired a Mobile power center from a joint venture led by Kimco Realty Corp. Mobile Festival Centre is a 380,19-square-foot retail property located near Interstate 65 at 3725 Airport Blvd. Its tenant roster includes Academy Sports + Outdoors, Bed Bath & Beyond, h.h. gregg, Jo-Ann Fabric & Craft Store, Ross Dress for Less, and Virginia College. The Home Depot shadow anchors it. Richard Reid and Jim Hamilton of Holliday Fenoglio Fowler represented the seller. The purchase price was not released.

June 4, 2013

Retail Southeast

BERKELEY BROKERS $2.4M NET LEASE SALE

by admin June 4, 2013

FAYETTEVILLE, N.C. — Berkeley Capital Advisors has brokered the sale of a 5,250-square-foot retail property in Fayetteville that is net-leased to USAA. The property traded for $2.4 million. Berkeley’s Steve Horvath and Jay Levell represented the seller, a South Carolina-based developer. The buyer was a private REIT.

June 4, 2013

Retail Texas

DAVID DISNEY BROKERS SALE OF PRESTON OAKS SHOPPING CENTER

by admin June 4, 2013

DALLAS — David Disney, formerly with UCR Investment Sales, has closed on the sale of Preston Oaks, a 103,000-square-foot grocery-anchored shopping center in Dallas. The center is located at the southeast corner of Preston Road and Royal Lane in the Preston Hollow neighborhood. H-E-B's Central Market grocery concept anchors Preston Oaks. Other tenants include White House | Black Market, Gap, Pier 1 Imports, Francesca's, Neighborhood Services and McDonald's. Jacksonville, Fla.-based Regency Centers acquired the center in an off-market transaction from a partnership controlled by Trademark Property Co. Disney, along with Stuart Brackenridge of Regency Centers, represented the buyer in the transaction. The seller was self-represented.

June 4, 2013

Retail Western

TRION PROPERTIES SELLS VISALIA CENTER FOR $4 MILLION

by admin June 4, 2013

VISALIA, CALIF. – Trion Properties, a Los Angeles-based real estate investment company, has sold a 57,254-square-foot shopping center located at 3230-3298 S. Mooney Blvd. in Visalia to a family trust for $4 million, or roughly $70 per square foot. Trion Properties acquired a nonperforming note on the asset in 2012 in an all-cash transaction from a regional bank, which had to remove it from their books by year-end. Nick Whitstone at CBRE handled the note transaction. The property reverted to Trion in a foreclosure sale on February 4, and Trion immediately listed the property for sale with Mark Denholm from CORE Commercial, who represented Trion in the disposition. The property, which was built in 1977, was approximately 60 percent leased at the time of the sale with a tenant roster that includes King Buffet and Tuesday Morning.

June 4, 2013

Retail Western

LAND FOR FERRARI MASERATI DEALERSHIP IN TORRANCE SELLS FOR $2.3M

by admin June 4, 2013

TORRANCE, CALIF. – A 28,500-square-foot land parcel in Torrance has sold to Beverly Hills Ferrari Maserati for $2.3 million. The parcel is located at 23305 Hawthorne Blvd. It is slated for a 20,000-square-foot Ferrari Maserati dealership. Beverly Hills Ferrari Maserati was represented by Sheri Messerlian of NAI Capital’s South Bay office. The seller was Vivial Markham Trust.

June 4, 2013

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