Retail

UCR ARRANGES TWO RETAIL SALES

by admin April 24, 2012

FRISCO AND SAN ANTONIO — Dallas-based UCR Investment Sales has brokered the sale of the 10,417-square-foot Starbucks & Verizon Shops in Frisco and the 13,956-square-foot Canyon Creek shopping center in San Antonio. Starbucks & Verizon Shops includes tenants such as Starbucks, Verizon Wireless, The UPS Store and Allstate. Canyon Creek includes tenants such as Navy Federal Credit Union, Scottrade, The Strand Salon, Hometown Flooring, Cigar Warehouse and Delice Chocolate. Tommy Tucker of UCR Investment Sales represented the undisclosed sellers of both properties.

April 24, 2012

QUANTUM PROVIDES $4.3M FOR MELROSE AVE REDEVELOPMENT

by admin April 24, 2012

LOS ANGELES — Quantum Capital Partners has provided $4.3 million in permanent financing for the redevelopment of 7000-7024 Melrose Ave. in Los Angeles. This property features a 23,000-square-foot, two-story building and a vacant lot. It contains a combination of retail and creative space, though it can be redeveloped for multiple different uses.

April 24, 2012

Retail Southeast

M&M ARRANGES RETAIL SALE

by admin April 23, 2012

PANAMA CITY, FLA. — Marcus & Millichap has negotiated the sale of the 53,600-square-foot Hickory Plaza Shopping Center, located at 406 S. Tyndall Pkwy. in Panama City. The property is 84 percent leased, and tenants include Dollar General, Anytime Fitness, Aaron's, The UPS Store and Subway. Tim Giambrone of Marcus & Millichap's Atlanta office represented the seller, Atlanta-based Shops at Friendship LLC. The buyer was a private investor from Maryland.

April 23, 2012

Retail Southeast

CVS SELLS FOR $2.27M

by admin April 23, 2012

WILDWOOD, FLA. — A CVS/pharmacy located at 901 S. Main St. in Wildwood, has sold for $2.27 million. Michael Zimmerman of Calkain Cos.' Tampa, Fla., office represented the seller, a Louisiana-based private party, in the transaction. The buyer was a private equity group based in the Northeast. CVS has less then 8 years remaining on its lease.

April 23, 2012

Midwest Retail

ARROW BUYS 700,000 SF RETAIL PROJECT IN ILLINOIS

by admin April 23, 2012

SCHAUMBURG, ILL. — KF Schaumburg LLC has sold The Streets of Woodfield, a 700,000-square-foot retail project in Schaumburg. Arrow Operating Acquisitions purchased the property, which is 98 percent leased and anchored by Whole Foods, Crate & Barrel, Dick's Sporting Goods and Carson Pirie Scott. The shopping center also includes a 20-screen AMC Theater and the U.S. flagship store for Legoland Discovery Center. The property is located at 601 N. Martingale Rd., adjacent to Woodfield Mall, a 2.2 million-square-foot super regional mall. Daniel Kaufman, Matthew Lawton, Jim Batjer and Barry Brown of HFF represented the seller in the deal. Trey Morshbach and Tim Joyce, also of HFF, arranged a $100 million, 4-year acquisition loan for the property through CIBC World Markets.

April 23, 2012

Midwest Retail

MCDONALD'S GROUND LEASE SELLS FOR $1M

by admin April 23, 2012

KENOSHA, WIS. — The Boulder Group has arranged the $1 million sale of a single-tenant McDonald's ground lease located at 3711 57th St. in Kenosha. McDonald's occupies 4,467 square feet in the retail building, which was developed in 2011. The company has a 20-year ground lease at this property with rental escalations throughout the lease term. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago development firm in the deal. They also represented the buyer, a private investor based in the Midwest.

April 23, 2012

Retail Texas

LA PALMERA ADDS FIVE NEW TENANTS

by admin April 23, 2012

CORPUS CHRISTI — La Palmera, a 1.02 million-square-foot super-regional mall located at 5488 S. Padre Island Dr. in Corpus Christi, has added five new retailers to its tenant roster. The new tenants include the 3,453-square-foot White House Black Market, the 2,313-square-foot Soma Intimates, the 4,885-square-foot 2b bebe, the 1,105-square-foot Traffic Shoes and the 6,350-square-foot Papaya. The mall will undergo a major redesign and renovation scheduled to begin in late 2012 and wrap up in 2013. The mall will be known as The Shops at La Palmera.

April 23, 2012

Retail Western

DOWNTOWN LA RETAIL CENTER RECEIVES $8.7M

by admin April 23, 2012

LOS ANGELES – A 33,000-square-foot retail center located at Grand and Cesar Chavez avenues in Downtown Los Angeles has received an $8.75-million refinance. The center is anchored by Wal-Mart. The loan was arranged by Quantum Capital Partners to a private limited partnership.

April 23, 2012

Midwest Retail

SEARS SELLS 3 MIDWEST LOCATIONS

by admin April 20, 2012

HOFFMAN ESTATES, ILL. — Hoffman Estates-based Sears Holding Corp. has completed the sale of 11 Sears locations to General Growth Properties for $270 million. The transaction includes three Midwest locations: 1481 Coral Ridge Ave. in Coralville, Iowa; 1751 Madison Ave. in Council Bluffs, Iowa; and 2000 N. Neil St. in Champaign, Ill. Sears has received the sale proceeds and the stores will continue to operate as Sears locations into 2013 or 2014. The final closing dates will be announced later this year.

April 20, 2012

Retail Texas

HFF ARRANGES $4.7M LOAN FOR THE VILLAGE AT KYLE

by admin April 20, 2012

KYLE — HFF has secured $4.7 million in refinancing for The Village at Kyle, a 26,000-square-foot shopping center located at 5695 Kyle Pkwy. in Kyle, a suburb of Austin. The retail center is leased to tenants including AT&T, Select Physical Therapy, SportsClips and Dickey's Barbecue Pit. Tyler Ford and Tucker Knight of HFF's Houston office arranged the 5-year, fixed-rate loan through Texas Exchange Bank on behalf of the borrower, SCC Development.

April 20, 2012

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