Retail

THE SHOPPES AT ADAMS RIDGE SELLS FOR $10M

by admin September 19, 2011

MARS, PA. — The Shoppes at Adams Ridge, a 49,060-square-foot, grocery-anchored shopping center at 300-920 Adams Ridge Rd. in Mars, has been sold for $10 million. McGinnis Sisters, a specialty grocery store, anchors the center. Steven Siegel of Marcus & Millichap's Manhattan office represented the undisclosed seller, while Erin Patton, Scott Wiles and Craig Fuller represented the undisclosed buyer. Tenants in the shopping center include Dairy Queen, Citizens Bank, McGinnis, Great Clips, Pizza Hut, Stonepepper's Grill and Verizon Wireless.

September 19, 2011

VILLAGE AT FAIRVIEW ADDS NEW MERCHANTS, RESTAURANTS

by admin September 19, 2011

FAIRVIEW — The Village at Fairview is adding 50,000 square feet of merchants and restaurants to its tenant roster, including: Old Navy (17,000 square feet) Nasr Bros. Jewelers (1,600 square feet) Versona Accessories (7,819 square feet) Zoe's Kitchen (3,400 square feet) La Duni Latin Kitchen (6,965 square feet) Sushi Awaji (6,000 square feet) Down Under (7,433 square feet) The MGHerring Group represented the Village at Fairview in all the above transactions. Not every tenant had representation, but The Retail Connection represented Zoe's Kitchen, Dunhill Partners represented La Duni Latin Kitchen, Grubb & Ellis represented Down Under and Beam Real Estate represented Sushi Awaji.

September 19, 2011

Retail Western

MAMMOTH HENDERSON CENTER SELLS FOR $9.5M

by admin September 19, 2011

HENDERSON, NEV. — Mammoth Henderson Center, a 91,636-square-foot office and retail center in Henderson, has sold to Henderson I LLC for $9.5 million. The property was built in 2009, and is currently 40 percent occupied. This was an REO sale. Tom Naseef of Distinct Real Estate Advisors represented both the buyer and the seller, SA California Group, in this transaction.

September 19, 2011

Retail Western

SUNFLOWER FARMERS MARKET OPENS IN WEST SAN JOSE

by admin September 19, 2011

WEST SAN JOSE, CALIF. — Sunflower Farmers Market has signed a long-term lease for 32,952 square feet inside the West Valley Shopping Center in West San Jose. The store is scheduled to open in fall 2012. Sunflower opened its first California-based store in Roseville earlier this year. It is set to open another outpost in Modesto, and three more stores in Silicon Valley in 2012. Sunflower was represented by James Chung and Patrick McGaughey of Terranomics Retail Services.

September 19, 2011

Retail Southeast

GEORGIA CVS SELLS FOR $2.57M

by admin September 16, 2011

DECATUR, GA. — The 10,125-square-foot CVS/pharmacy, located at 4037 Glenwood Rd. in Decatur, has sold for $2.57 million. CVS/pharmacy has a 20-year lease on the property with approximately 8.5 years of the original term remaining. Dan Cooper of Cleveland-based The Cooper Commercial Investment Group represented the seller, a private East coast company, and procured the buyer, a Texas-based private group.

September 16, 2011

Retail Southeast

NORTHMARQ SECURES $14M LOAN FOR STUDENT HOUSING

by admin September 16, 2011

RALEIGH, N.C. — Frank Relihan of NorthMarq Capital's Washington, D.C., office has arranged $14 million in acquisition financing for the 518-bed University Suites, an off-campus student housing property located at 2190 Ocean Reef Pl. in Raleigh. The property is near North Carolina State University. The 10-year loan has a 30-year amortization schedule and was provided by AmeriSphere Multifamily Finance.

September 16, 2011

Midwest Retail

MISSNER GROUP COMPLETES SKY HIGH SPORTS BUILD-OUT

by admin September 16, 2011

NILES, ILL. — The Missner Group has completed a 40,000-square-foot build-out for the new franchise location of Sky High Sports, located at 6424 Howard St. in Niles. The company built out the existing space to meet the requirements of Sky High Sports' trampoline and entertainment activities. The facility features two trampoline courts, a dodge ball court, a kids' court and two foam pits.

September 16, 2011

Northeast Retail

GENERAL GROWTH REFINANCES STATEN ISLAND MALL FOR $273M

by admin September 16, 2011

NEW YORK CITY — General Growth Properties Inc. has refinanced its Staten Island Mall for $273 million. The loan is a 12-year fixed rate mortgage, which replaces a $273 million loan that was scheduled to mature in October 2015. The new financing removes $125 million of corporate recourse associated with the first loan.

September 16, 2011

Retail Texas

JUST FITNESS 4U LEASES ANCHOR SPACE IN TOWNE SQUARE SHOPPING CENTER

by admin September 16, 2011

PLANO — Just Fitness 4U has leased 29,460 square feet of anchor space in Towne Square Shopping Center at 910 W. Parker Rd. in Plano. The location is Just Fitness' sixth location in the Dallas-Fort Worth market. Marc Marrocco, Perren Gasc and Beau Barkerding of The Weitzman Group's Commercial Retail Division represented Just Fitness 4U. The Weitzman Group is representing Just Fitness 4U in its expansion in the Dallas-Fort Worth area. The landlord, Dunhill Partners, was self-represented.

September 16, 2011

Retail Texas

ITT EDUCATIONAL SERVICES SIGNS LEASE RENEWAL, EXPANSION IN ARLINGTON

by admin September 16, 2011

ARLINGTON — ITT Educational Services Inc. has signed a 30,000-square-foot lease renewal and expansion at 551 Ryan Plaza Dr. in Arlington. ITT currently occupies 100 percent of the 23,500-square-foot building, and the agreement gives ITT an additional 6,500 square feet. The expansion project is expected to be complete by the end of the year. Chris Wright of Grubb & Ellis represented the landlord, Bridge Parkway Associates, while Bob Ikel of IC3 Real Estate represented ITT.

September 16, 2011

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