Retail

TOP GOLF TO OPEN AT THE VILLAGE AT ALLEN

by admin October 27, 2010

ALLEN — Top Golf, an all-weather sports and entertainment store, has broken ground on its new 65,000-square-foot facility that will open at The Village at Allen in spring 2011. Located at 1500 Allen Station Pkwy. in Allen, Top Golf will feature a triple-deck tee line with 94 hitting bays, 5,000 square feet of private event space, a rooftop lounge terrace, and a full-service bar and restaurant. The Village at Allen is one component of a 3 million-square-foot regional, mixed-use lifestyle development located in both Allen and Fairview at the intersection of U.S. Highway 75 and Stacy Road. The MGHerring Group of Dallas developed the property.

October 27, 2010

CB RICHARD ELLIS BROKERS $5.7 MILLION BUY IN AUTOMOBILE-RELATED FACILITIES

by admin October 27, 2010

POWAY, CALIF. — Toyota of Poway has purchased a 19,000-square-foot auto dealership and a 6,500-square-foot service building, located on 2.84 acres at 13631 and 13611 Poway Road, from a private seller for $5.7 million. CB Richard Ellis’ Paul Komadina and Jim Rinehart represented the buyer in the transaction; the seller represented itself.

October 27, 2010

Retail Southeast

$48.5 MILLION REFINANCING ARRANGED FOR REGIONAL MALL FLORIDA

by admin October 26, 2010

PORT CHARLOTTE, FLA. — Holliday Fenoglio Fowler (HFF) has secured $48.5 million in permanent first mortgage financing for Port Charlotte Town Center, a regional mall in Port Charlotte. Located at 1441 Tamiami Trail, the mall is occupied by Dillard's, JCPenney, Macy's, Sears, Bealls, Regal Cinema, Old Navy, DSW, Charlotte Russe and Victoria's Secret. Manny de Zarraga, Luis Castillo, Danny Finkle, Claudia Steeb and John Pelusi of HFF arranged the 10-year, fixed-rate loan through RB Securities for the borrower, Simon Property Group.

October 26, 2010

Retail Southeast

GROUND BREAKS FOR $5 MILLION GROCERY STORE IN FORT LAUDERDALE, FLA.

by admin October 26, 2010

FORT LAUDERDALE, FLA. — Deerfield Beach, Fla.-based SIKON Construction has broken ground for the development of Publix at The Galleria Mall in Fort Lauderdale. The $5 million project includes a 30,907-square-foot Publix Super Market and associated retail space. Designed by Clearwater, Fla.-based Fisher & Associates, the project is scheduled for completion in July 2011.

October 26, 2010

Midwest Retail

43,112-SQUARE-FOOT RETAIL SPACE SELLS IN TAYLOR, MICH.

by admin October 26, 2010

TAYLOR, MICH. — Metro South Church has acquired a 43,112-square-foot retail space in Taylor. TSA Stores Inc. sold the property, which is located at 21080 Penn Road, for an undisclosed price. The buyer plans to relocate its nondenominational independent church to the new facility, which is a former Sports Authority location. Greg Hornby of Friedman Real Estate Group represented the buyer in the transaction. Terms of the deal were not released.

October 26, 2010

Northeast Retail

CEDAR/RIOCAN JV CLOSES ON $91 MILLION RETAIL ACQUISITION

by admin October 26, 2010

MARYLAND, PENNSYLVANIA AND VIRGINIA — A joint venture between Cedar Shopping Center and RioCan Real Estate Investment Trust has closed on its previously announced acquisition of a five-property retail portfolio for approximately $91 million. The portfolio totals 678,000 square feet; four of the centers are anchored by Giant Food Stores. The properties include Marlboro Crossroads in Upper Marlboro, Md.; Gettysburg Marketplace in Gettysburg, Pa.; Northland Center in State College, Pa.; York Marketplace in York, Pa.; and Towne Crossing in Midlothian, Va.

October 26, 2010

Retail Western

MARCUS & MILLICHAP MANAGES $5.34 MILLION WALGREENS TRADE NORTH OF DENVER

by admin October 26, 2010

ERIE, COLO — Marcus & Millichap has brokered the $5.34 million sale of a 14,490-square-foot Walgreens located at 490 Erie Parkway in Erie. Marcus & Millichap’s Kirk Trammell represented both the private-investor buyer and the limited-liability-company seller in the deal; the firm’s Michael Hoffman assisted in the transaction involving the single-tenant, net-leased property.

October 26, 2010

Northeast Retail

KOHL'S HOLDS GRAND OPENING IN PA.

by admin October 25, 2010

YORK, PA. — The grand opening has been held for a new Kohl's located within West Manchester Mall in York. The department store occupied 87,000 square feet of space and joins a tenant roster that includes Walmart Supercenter, Regal 13 Cinemas and Macy's. The Lightstone Malls is the owner and operator of the shopping center.

October 25, 2010

Retail Texas

NORTHCHASE PLAZA II SELLS FOR $1.3 MILLION

by admin October 25, 2010

HOUSTON — Northchase Plaza II, an 11,407-square-foot retail center in Houston, has sold for $1.3 million. Located at 13630 Veterans Memorial Dr., the property was built in 2004 and is 100 percent leased to five tenants. James Bell of Marcus & Millichap represented the seller, a Texas partnership, while Justin Miller of Marcus & Millichap represented the buyer, a limited liability company.

October 25, 2010

Retail Western

CANYON CITY CVS STORE TRADES FOR $3.35 MILLION IN SAN GABRIEL VALLEY

by admin October 25, 2010

AZUSA, CALIF. — A CVS/pharmacy situated along Arrow Highway in Azusa has sold for $3.35 million. The Royston Group’s Rob Sutton and Greg Cortese represented the seller of the property, which was constructed in 2003, in the all-cash transaction; Capital Pacific’s Zeb Ripple represented the buyer. The 22-year fee-simple ground lease on the property has 16 years remaining on the initial term.

October 25, 2010

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