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Citrus-Landing-Riverside-CA
AcquisitionsCaliforniaLoansRetailWestern

Gantry Arranges $12.8M Acquisition Loan for Grocery-Anchored Retail Property in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — Gantry has arranged a $12.8 million permanent loan to fund the recapitalization of a grocery-anchored retail building within the Citrus Landing retail center in the Inland Empire city of Riverside. Stater Bros, AutoZone and Ross Dress for Less are tenants at the 99,000-square-foot retail center, which is located at 7200 Arlington Ave. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry’s Los Angeles production office secured the financing on behalf of the borrower, a private real estate entity. One of Gantry’s correspondent life company lenders provided the loan, which features a fixed rate, interest-only payments and pre-payment flexibility in years four and five.

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AcquisitionsGeorgiaRetailSoutheast

CBRE Arranges Sale of Fayette Pavilion, Georgia’s Largest Open-Air Retail Center

by John Nelson

FAYETTEVILLE, GA. — CBRE’s National Retail Partners team has arranged the sale of Fayette Pavilion, an open-air retail center in Fayetteville, a city about 22 miles south of Atlanta. At nearly 1.1 million square feet, Fayette Pavilion is the largest open-air retail center in Georgia and also the most visited with approximately 8.3 million annual visitors, according to CBRE. Chris Decoufle, Kevin Hurley and Matt Karempelis of CBRE’s National Retail Partners’ Southeast team represented the seller, Chicago-based Nuveen Real Estate, and procured the buyer, Houston-based 5Rivers CRE, in the transaction. The sales price was not disclosed. Developed on 106 acres from 1995 to 2003, Fayette Pavilion’s tenant roster includes Publix, Hobby Lobby, Burlington, Ross Dress for Less, Marshalls, PetSmart, Old Navy, pOpshelf, Dollar Tree and Five Below.

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Company NewsGeorgiaRetailSoutheast

Matthews Real Estate Investment Services Adds Veteran Retail Specialists to the Firm

by John Nelson

ATLANTA — Matthews Real Estate Investment Services has hired Pierce Mayson and Kyle Stonis as senior vice presidents, Jeff Enck as first vice president and Boris Shilkrot as associate vice president. The veteran retail specialists join the company’s shopping center division from SRS Real Estate Partners where they managed the sales of shopping centers in 17 different states across the Southeast, Midwest and Northeast. Collectively, Mayson, Stonis, Enck and Shilkrot have brokered the sales of $4 billion in career transactions over a combined 50 years. The group will operate from the Matthews’ Atlanta office off Peachtree Road and work with Matthew Wallace, the company’s national director of shopping centers.

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AcquisitionsNew YorkNortheastRetail

JLL Arranges Sale of 730,000 SF Retail Power Center in Hicksville, New York

by Taylor Williams

HICKSVILLE, N.Y. — JLL has arranged the sale of Broadway Commons, a 730,000-square-foot retail power center in the Long Island community of Hicksville. The center was 97 percent leased at the time of sale to tenants such as Round 1 Bowling & Amusement, Showcase 12 Cinema, H&M, Old Navy, Blink Fitness, Buffalo Wild Wings, On the Border, Hook & Reel, Panera Bread and Blaze Pizza. Jose Cruz, Kevin O’Hearn, J.B. Bruno and David Monahan of JLL represented the undisclosed seller in the transaction and procured the buyer, a partnership between KABR Group, BTF Capital and AJM BRE Ventures.

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AcquisitionsMassachusettsNortheastRetail

IPA Negotiates Sale of 75,529 SF Shopping Center in Acton, Massachusetts

by Taylor Williams

ACTON, MASS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Brookside Shops, a 75,529-square-foot shopping center in Acton, a western suburb of Boston. Grocer Trader Joe’s anchors the center, which was built on 10 acres in 2002. Other tenants include Staples, X-Golf and Talbots. Jim Koury led the IPA team that represented the undisclosed seller in the transaction and procured the buyer, Crosspoint Acquisitions.

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Austin-Retail-Panel
Conference CoverageMarket ReportsRetailTexasTexas Market Reports

InterFace Panel: Macroeconomic, Institutional Market Obstacles Hinder Retail Supply Growth in Austin

by Taylor Williams

By Taylor Williams The Austin retail market is in dire need of more quality space, but between the newfound volatility in the U.S. capital markets and longstanding local policies that have hamstrung commercial developers in the state capital, delivering that space is no easy feat. The city’s remarkable growth story is well-documented. Big Tech has made Austin its home away from home, spearheading what was a 33 percent increase in population between 2010 and 2020, according to the Austin Chamber of Commerce. But the paces of growth of housing and infrastructure — two crucial prerequisites for retail development — haven’t kept up with the surging head count. In addition, the Austin bureaucracy is notorious for slow-moving entitlement and permitting processes, at least in the eyes of Texas developers who have done business in zone-free Houston or certain municipalities of Dallas-Fort Worth that make it a point to fast-track new projects. These issues at the local level have merged with debt market disruption on the national circuit, rendering a scenario in which the process of financing and building new retail space is fraught with headaches, delays and pitfalls. The number of ways in which new projects can be killed in action …

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AcquisitionsRetailTexas

Disney Investment Group Arranges Sale of 189,338 SF Shopping Center in West Houston

by Taylor Williams

HOUSTON — Dallas-based brokerage firm Disney Investment Group (DIG) has arranged the sale of Presidio Square, a 189,338-square-foot shopping center in West Houston. An 82,466-square-foot H-E-B grocery store anchors the center. Other tenants include Family Thrift, AT&T, Subway, State Farm, Little Caesars, IHOP and Chase Bank. David Disney and Adam Crockett of DIG represented the seller, an affiliate of North American Development Group, in the transaction. The duo also procured the buyer, Houston-based Wu Properties. The sales price was not disclosed.

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DevelopmentRestaurantRetailTexas

Chicken N Pickle Breaks Ground on 43,000 SF Restaurant, Entertainment Venue in Allen, Texas

by Taylor Williams

ALLEN, TEXAS — Chicken N Pickle, a Kansas City-based concept that combines dining with pickleball and other outdoor games, has broken ground on a 43,000-square-foot restaurant and entertainment venue in the northeastern Dallas suburb of Allen. The venue is located at The Farm, a 135-acre mixed-use development by JaRyCo. The opening is slated for early 2025. Chicken N Pickle also has locations in the Dallas-Fort Worth metros of Grand Prairie and Grapevine, as well as San Antonio, and will open its facility at Webster, a southwestern suburb of Houston, later this month.

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Leasing ActivityNortheastPennsylvaniaRetail

CBRE Arranges 28,857 SF Retail Lease Near Pittsburgh

by Taylor Williams

NORTH FAYETTE TOWNSHIP, PA. — CBRE has arranged a 28,857-square-foot retail lease in North Fayette Township, a western suburb of Pittsburgh. The tenant, furniture retailer Arhaus The Loft, will move into its new space at Plaza at the Point shopping center in the second quarter. Herky Pollock and John Jackson of CBRE represented the landlord, Kossman Development Co., in the lease negotiations. Scott Smith of Hanna Langholz Wilson Ellis represented the tenant. The deal brings Plaza at the Point to full occupancy.

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5116-Denali-Park-Dr-Herriman-UT
AcquisitionsRetailUtahWestern

SRS Real Estate Partners Brokers $5.3M Sale of PetSuites Location in Herriman, Utah

by Amy Works

HERRIMAN, UTAH — SRS Real Estate Partners has arranged the purchase of a newly constructed retail property, located at 5116 Denali Park Drive in Herriman, approximately 20 miles southwest of Salt Lake City. A Washington-based private investor in a 1031 exchange acquired the asset from a developer for $5.3 million. PetSuites, which opened in November 2023, occupies the 10,953-square-foot property. The tenant has a 20-year lease in place. PetSuites operates more than 80 locations nationally with services including daycare, boarding, grooming and training for pets. Susan Harris of SRS represented the buyer, while JLL represented the seller in the deal.

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