Retail

COSMIC JUMP COMING TO LEWISVILLE

by admin May 24, 2012

LEWISVILLE — Cosmic Jump Trampoline Entertainment Center will open a 22,900-square-foot location at 1915 S. Stemmons Freeway in Lewisville for its second location in Texas. The facility is a vacant Bassett Furniture store near Valley Ridge Mall. Cosmic Jump will open its doors in mid June. The location will feature private birthday rooms, trampoline dodge ball courts, trampoline basketball courts, parallel-ramped trampolines, X-Box Kinect activity fun zones, fitness boot camps and a full-service snack bar. Eric Vickers of Kim Martin Co. represented the landlord, Lewisville Bassett, in the lease transaction.

May 24, 2012

WILLITS TOWN CENTER RECEIVES $15M FOR RETAIL DEVELOPMENT

by admin May 24, 2012

BASALT, COLO. — Cohen Financial has provided a $15-million construction loan to develop retail space at Willits Town Center, a multi-use community development in Basalt. The loan will cover the construction of a 26,200-square-foot Whole Foods Store and another 19,000 square feet of new retail space in the same building. It will also include 28,000 square feet of existing retail space that is partially leased. The loan is secured by the balance of the land in development. The loan was secured by Don C. Trossman of Cohen Financial’s Chicago office through a Midwestern-based bank. It features a 24-month term with an extension option rate.

May 24, 2012

Retail Southeast

GROUND BREAKS ON 68-ACRE RETAIL PROJECT

by admin May 23, 2012

OCONEE, GA. — Oconee 316 Associates has broken ground on the 410,000-square-foot Epps Bridge Center, a retail and entertainment project located at the intersection of Paul Broun Parkway and the Oconee Connector in Oconee. Benning Construction Co. is the general contractor for the project. A 16-screen Georgia Theater Co. stadium-style movie theater will anchor the development. The first phase, which is slated for completion in the summer of 2013, will include 400,000 square feet of retail space. Additional phases will include the development of the outparcels.

May 23, 2012

Retail Southeast

M&M BROKERS $2.92M WALGREENS SALE

by admin May 23, 2012

HOLLY HILL, FLA. — Marcus & Millichap has arranged the $2.92 million sale of a 13,662-square-foot Walgreens, located at 1600 N. Nova Rd. in Holly Hill. Walgreens has 6 years remaining on its original lease term. Kevin Yaryan of Marcus & Millichap's Orlando, Fla., office represented the seller, a private investor, in the transaction.

May 23, 2012

Retail Southeast

RETAIL BUILDING SELLS FOR $1.16M

by admin May 23, 2012

NORTH CHARLESTON, S.C. — A 3,500-square-foot restaurant building, located at 9135 University Blvd. in North Charleston, has sold for $1.16 million. Johnny Bevon of Avison Young represented Blane Cowart, the buyer, in the transaction. Alex Ramsey of King Street Commercial represented the seller.

May 23, 2012

Retail Texas

CENTENNIAL ACQUIRES THE CROSSING SHOPPING CENTER

by admin May 23, 2012

RICHLAND HILLS — Centennial Real Estate Co. has purchased The Crossing, a 247,720-square-foot shopping center located at the northwest corner of Grapevine Highway and Precinct Line Road in Richland Hills. Kohl's anchors the center and Kroger Signature is a shadow anchor. Centennial will manage the center, and Greg Pierce and Rob Solls of UCR will handle the property's leasing.

May 23, 2012

Restaurant Texas

M&M BROKERS PIZZA HUT SALE

by admin May 23, 2012

HOUSTON — Marcus & Millichap has arranged the sale of a 1,504-square-foot retail property, located at 17500 NW Freeway in Houston, which is ground leased to Pizza Hut. Vincent Knipp of Marcus & Millichap's Fort Worth office represented the seller, a limited liability company, in the transaction. Glen Kunofsky and Judson Kauffman of Marcus & Millichap's Manhattan office represented the buyer, an individual trust. Pizza Hut has operated the location since 1991 and recently extended its lease on the property by 10 years.

May 23, 2012

Retail Southeast

INLAND BUYS FLA. RETAIL CENTER FOR $8.8M

by admin May 22, 2012

JACKSONVILLE, FLA. — Inland Real Estate Acquisitions has purchased the 40,207-square-foot The Shops at Julington Creek, located at 12807 San Jose Blvd. in Jacksonville, for $8.8 million. The Fresh Market anchors the center, and additional tenants include Hurricane Grill & Wings, Metro Diner and Sprint. The buyer was self-represented in the transaction by Mark Consenza.

May 22, 2012

Retail Southeast

PARTNERSHIP TO DEVELOP $4.5M RETAIL PROPERTY

by admin May 22, 2012

PORT RICHEY, FLA. — A partnership between Deerfield Beach, Fla.-based Konover South and Miami Beach, Fla.-based Argate Properties has plans to retrofit a 100,000-square-foot building, located on U.S. Highway 19 in Port Richey. The $4.5 million project will include a 65,000-square-foot Burlington Coat Factory and a 25,000-square-foot hhgregg. Completion is slated for October 1 of this year.

May 22, 2012

Midwest Retail

CBL & ASSOCIATES ACQUIRES SUPER-REGIONAL MALL IN NORTH DAKOTA

by admin May 22, 2012

MINOT, N.D. — CBL & Associates Properties has acquired the 622,000-square-foot Dakota Square Mall in Minot, from the New York City-based Lightstone Group. The single-level mall is anchored by a nine-screen Carmike Cinema, Herberger's, JCPenney, Sears, Target and Barnes & Noble. The center generated sales of $470 per square foot for the 12 months ending on March 31 and was 94 percent occupied at the time of the sale. Dakota Square Mall was acquired for $91.48 million, including the assumption of a $59 million loan, which matures in November 2016 and bears a fixed interest rate of 6.23 percent. Savills represented the seller in the transaction.

May 22, 2012

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