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.
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.
WINCHESTER, VA. — NVRetail has started development of Phase II of its Rutherford Crossing Shopping Center in Winchester. Located at the intersection of U.S. Route 11 and I-81, the second phase will include 140,000 square feet of retail and office space. NVRetail is actively seeking tenants including drug store chains, restaurants, oil companies and banks. Phase I of the project is currently 98 percent leased and is anchored by Target and Lowe's Home Improvement. Rutherford Crossing is adjacent to the Federal Emergency Management Agency (FEMA) facility, and approximately 2,500 new homes are slated for construction within one mile of the center.
SAINT CLOUD, MINN. — Marcus & Millichap has arranged the sale of a building occupied by Advance Auto Parts for $1.3 million in Saint Cloud, located about 65 miles northwest of Minneapolis. The 6,830-square-foot, net-leased property is located at 2550 2nd St. Matthew Hazelton and Adam Prins of Marcus & Millichap represented the seller, an individual/personal trust. An outside brokerage represented the buyer, an individual/personal trust, in the transaction.
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.
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.
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.
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.
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.
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.