Retail

THREE RETAIL PROPERTIES SELL IN NEW JERSEY FOR NEARLY $12M

by admin November 19, 2012

SICKLERVILLE, SCROTCH PLAINS AND WILDWOOD, N.J. — Marcus & Millichap has arranged the sale of three retail properties in New Jersey for a combined $11.7 million. The properties include 611 Cross Keys Road, a strip center in Sicklerville, that sold for $378 per square foot. Michael Lombardi, Brian Mucerino and Maz Radwan of Marcus & Millichap represented the buyer, a New Jersey-based personal trust, in the transaction. The seller was a Pennsylvania-based developer. The second property is 445 Terrill Road in Scotch Plains, which is leased to Advance Auto Parts for another 10 years. Kevin Limbert of Marcus & Millichap represented the buyer, a Chicago-based real estate fund. The seller was a Florida-based developer. The third property is 404 E. Fourth Ave. in North Wildwood, a newly built Wawa Convenience Market. Andrew Fallon of Marcus & Millichap represented the buyer, a Maryland-based investor. Brad Nathanson of Marcus & Millichap represented the sellers in the three deals.

November 19, 2012

SIMONE SIGNS THREE NEW TENANTS TO THROGGS NECK SHOPPING CENTER

by admin November 19, 2012

NEW YORK CITY — Simone Development Cos. has signed three new tenants at the Throggs Neck Shopping Center project, currently under construction in the Ferry Point section of the Bronx. T.J.Maxx has signed a 28,417-square-foot lease, Abblebee's has signed a 6,640-square-foot lease and MetroOptics Eyewear has signed a 4,131-square-foot lease. The Throggs Neck Shopping Center is scheduled for completion in 2014 and will consist of more than 285,000 square feet of stores and restaurants on two levels. Simone Development, Aaron Malinsky and Paul Slayton are developing the property, which will be anchored by a 165,000-square-foot Target.

November 19, 2012

Retail Texas

LA PALMERA ADDS NEW TENANTS

by admin November 19, 2012

CORPUS CHRISTI — La Palmera, a 1 million-square-foot super-regional mall located in Corpus Christi, is adding four new tenants to its roster. LongHorn Steakhouse will open a 6,500-square-foot restaurant in 2013, which will also feature outdoor patio seating. Papaya opened a 6,350-square-foot location and Flip Flop Shops opened a kiosk near the food court. Pandora will also open a new 1,703-square-foot shop in time for the holiday shopping season.

November 19, 2012

Retail Western

TRIGATE CAPITAL ACQUIRES FOUR AZ SHOPPING CENTERS FOR $28.3M

by admin November 19, 2012

PHOENIX — TriGate Capital has acquired four shopping centers in the Greater Phoenix region for $28.3 million. They include Ahwatukee Mercado, Elliot Plaza, the Crossings at Fountain Hills, and Ventana Lakes Village Center. The centers contain a total of 306,959 square feet. The seller, C-III Asset Management, was represented by Lane Neville, Brad Ranly, Barbara Lloyd and Hunter Null with NAI Horizon, along with C-III Realty Services.

November 19, 2012

Retail Southeast

CAROLINA HOLDINGS COMPLETES FIVE DOLLAR GENERAL STORES

by admin November 16, 2012

GREENVILLE, S.C. — Greenville-based Carolina Holdings, a full-service real estate firm, has completed construction or expansion of five Dollar General retail properties in Greenwood and Rock Hill, S.C., and Mount Holly, Conover and Burlington, N.C. The new construction and expansions provide expanded grocery offerings at the five Dollar Generals. Carolina Holdings is collaborating with Dollar General on several new store locations in North and South Carolina.

November 16, 2012

Retail Southeast

WALGREENS SELLS IN WEST PALM BEACH FOR $4.6M

by admin November 16, 2012

WEST PALM BEACH, FLA. — A 15,120-square-foot Walgreens has sold for $4.6 million in West Palm Beach. It was built in 2001 and is situated on a corner site adjacent to the Palm Beach International Airport. Jason Powell and Sean Patrick of Atlanta-based Ackerman & Co. represented the seller, a Washington, D.C.-based private investor. Mark Myers of Pompano Beach, Fla.-based Park Place Realty represented the buyer, Pompano Beach-based BMD Management.

November 16, 2012

Midwest Retail

BUFFALO WILD WINGS PROPERTY SELLS FOR $1.9M IN OHIO

by admin November 16, 2012

BEAVERCREEK, OHIO — Colliers International has arranged the $1.9 million sale of a freestanding Buffalo Wild Wings in Beavercreek. The 6,000-square-foot building was constructed in 1999 as a build-to-suit for Buffalo Wild Wings, which has 12 years remaining on its lease. Jeff Johnston, Chris Prosser and Steve Timmel of Colliers represented the seller in the transaction. Marcus & Millichap represented the buyer, a private California-based investor.

November 16, 2012

Retail Texas

NORTHMARQ ARRANGES $1.72M MORTGAGE FOR DENTON TAP PLAZA

by admin November 16, 2012

COPPELL — NorthMarq Capital has secured $1.72 million in first mortgage refinancing for the 10,000-square-foot Denton Tap Plaza, an unanchored retail property located at State Highway 121 and Denton Tap in Coppell. Phillip Bankhead of NorthMarq's Dallas office arranged the 10-year loan with a 30-year amortization schedule through a CMBS lender.

November 16, 2012

Retail Western

THE LINCOLN VILLAGE SHOPS IN SCOTTSDALE SELLS FOR $38M

by admin November 15, 2012

SCOTTSDALE, ARIZ. — The Lincoln Village Shops in Scottsdale has sold to Global Retail Investors for $38.7 million. The 71,142-square-foot retail center is located at 6202 N. Scottsdale Road. Notable tenants at the center include Walgreens, Trader Joe’s, Fogo de Chao, Einstein’s Bagel, My Sister’s Closet, Well Suited and Rancho Pinot Grill. The seller was Scottsdale Road Partners, an affiliate of Redwood Real Estate Partners. The transaction was facilitated by Patrick Dempsey and Jan Fincham of Lee & Associates Arizona.

November 15, 2012

Retail Western

FORMER HOME DEPOT SITE IN OXNARD SELLS FOR $7.1M

by admin November 15, 2012

OXNARD, CALIF. – A 108,382-square-foot retail redevelopment site that was formerly occupied by Home Depot has sold to Oxnard Vineyards, LLC, for $7.1 million. It is located at 2600 E. Vineyard Ave. The 11-acre site contains a 104,000-square-foot building and a 2,000-square-foot building that holds a Jack in the Box. Home Depot vacated the building in 2002. Jack in the Box has operated from this location for the past 15 years. Oxnard Vineyards intends to invest an additional $5 million to refurbish the property. Vallarta grocery store plans to occupy 63,000 square feet, while Fallas discount stores will absorb 26,727 square feet. The balance will be divided into 1,000-square-foot pads. The seller, Wells Fargo, was represented by John Battle and Paul Capra of Lee & Associates-LA North/Ventura.

November 15, 2012

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