Retail

REGENCY CENTERS BEGINS $50M RETAIL PROJECT

by admin May 13, 2013

SCHERERVILLE, IND. — Regency Centers Corp., a national owner, operator and developer of grocery-anchored and community shopping centers, has begun construction on the $50 million first phase of Shops on Main in Schererville. Gordmans, Ross Dress for Less, HomeGoods and DSW Designer Shoe Warehouse will anchor the 147,851-square-foot community shopping center. The center is located at the intersection of two main arterial roads, U.S. Route 41 and Main Street, about 25 miles southeast of Chicago. Some of the anchors are scheduled to open in spring 2014. The first phase will include two retail buildings and five outparcels on 28 acres of the 35-acre site.

May 13, 2013

5,250 SF, NET LEASED BUILDING SELLS FOR $2.7M

by admin May 13, 2013

KINGSTON, N.Y. — Marcus & Millichap Real Estate Investment Services has arranged the sale of a 5,250-square-foot Verizon Wireless-occupied property in Kingston for $2.7 million. Judson Kauffman and Glen Kunofsky in Marcus & Millichap’s Manhattan office represented the buyer and seller, both private investors, in the transaction. Verizon Wireless is an outparcel to the Kings Mall, which is anchored by Marshall’s, HomeGoods, and Olive Garden. There are four years remaining on the 10-year, double net lease to Verizon Wireless.

May 13, 2013

Retail Texas

REALTY CAPITAL BROKERS LAND SALE FOR NEW MOVIE THEATER

by admin May 13, 2013

KELLER, TEXAS — Irving-based Realty Capital Management has arranged the sale of approximately nine acres of land in Keller to Moviehouse & Eatery, a dine-in theater concept. The parcel is located on Rufe Snow Drive just south of FM 1709. The approximately 42,000-square-foot theater will include eight upscale auditoriums, reserved seating in electric recliners and a full menu and bar. The new theater will be an addition to Keller Town Center. Construction is slated to begin in the summer and the theater is anticipating opening its doors in summer 2014. Mark Boone of Realty Capital Management represented the seller in the transaction. Debi Carter of Hudson Peters Commercial represented the buyer. Moviehouse & Eatery operates another location in Austin.

May 13, 2013

Retail Texas

FERRARI OF HOUSTON TO OPEN IN THE WOODLANDS

by admin May 13, 2013

THE WOODLANDS, TEXAS — The Woodlands Development Co. (TWDC), a subsidiary of The Howard Hughes Corp., has inked a 5,015-square-foot lease with Ferrari of Houston. The new satellite dealership will open in The Waterway Square District in The Woodlands, located at 1501 Lake Robbins Drive. Pat Moritz of Houston International Realty represented the tenant in the lease transaction. Rip Reynolds of The Howard Hughes Corp. represented TWDC.

May 13, 2013

Retail Western

SAIGON PLAZA IN GARDEN GROVE SELLS FOR $8.5M

by admin May 10, 2013

GARDEN GROVE, CALIF. — Saigon Plaza, a 33,074-square-foot retail center in Garden Grove, has sold to N. D. Dinh Tran Trust for $8.5 million. The center is located at 10320 Westminister Ave. The buyer was represented by Tom Nguyenof NAI Capital’s Orange County office. The seller was Westgrove Plaza.

May 10, 2013

Retail Texas

M&M ARRANGES SALE OF SAN ANTONIO RETAIL PROPERTY

by admin May 10, 2013

SAN ANTONIO — Marcus & Millichap has brokered the sale of a 13,767-square-foot retail property, located at 1933 Fredericksburg Road in San Antonio. Bethany Babcock and Chad Knibbe of Marcus & Millichap's San Antonio office represented the seller, a private investor, in the transaction. The property was constructed in 1940 and is located in the historical art deco district, which has recently undergone a beautification project.

May 10, 2013

Retail Texas

DAVIS COMMERCIAL ARRANGES LEASE FOR NEW DUNKIN' DONUTS

by admin May 10, 2013

HOUSTON — MM Donuts LLC has a signed a 3,806-square-foot lease for a freestanding building in the Orleans Square Shopping Center, located on West Lake Houston Drive. MM Donuts will operate a new Dunkin' Donuts store in the freestanding property. The store will be the first location in the Houston expansion for MM Donuts. Dunkin' Donuts plans to open 50 to 60 stores in the greater Houston area during the next five years. Jonathan Hicks of Davis Commercial represented the tenant in the lease deal. Janet Maas of Century 21 represented the landlord, Compass Care Holdings Ltd.

May 10, 2013

Retail Western

SAIGON PLAZA IN GARDEN GROVE SELLS FOR $8.5M

by admin May 10, 2013

May 10, 2013

Retail Western

MIDTOWN SHOPPING CENTER LAND IN LOS ANGELES SELLS FOR $42.5M

by admin May 9, 2013

LOS ANGELES – The 14.56 acres that sit under the Midtown Shopping Center in Los Angeles have sold to Midtown Shopping Center Associates (MTSCA) for $42.5 million. The 185,000-square-foot center is located at 4725 W. Venice Blvd. in Mid-City. The land acquisition also includes the 3.5 acres under two properties adjacent to the shopping center. MTSCA includes Young Management Company and its partners, James Young and Courtland Young. Young Management will manage the property and oversee the center’s leasing and redevelopment efforts. Young Management is the center’s original developer and negotiated the ground lease with its original owner, Southern Pacific. Notable tenants at the center include Ralph's, CVS, Orchard Supply Hardware and Bank of America.

May 9, 2013

Retail Western

THE STRAND RESTAURANT IN PORTLAND SELLS FOR $2.7M

by admin May 9, 2013

PORTLAND, ORE. — The Strand Restaurant, a 7,657-square-foot retail property in Portland, has sold to a limited liability company for $2.7 million. It is located at 1910 SW River Drive. There are about five years left on the Strand’s triple-net lease. The buyer was secured and represented by Ryan O'Leary, an investment specialist in Marcus & Millichap’s Portland office.

May 9, 2013

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