Retail

EASTERN CONSOLIDATED NEGOTIATES $5.25 MILLION DEVELOPMENT SITE SALE

by admin July 30, 2008

NEW YORK CITY — Eastern Consolidated has negotiated the sale of a development parcel located at 844 Second Ave. in New York City for $5.25 million. The single-story retail property is currently occupied by Blimpie’s. The buyer, locally based 300 E. 45th Street LLC, plans to continue operation of the property as a retail location in the short term until Blimpie’s lease expires. The site is located 1 block from the United Nations building and a few blocks from Grand Central Station. Eric Anton, Ronald Solarz and David Schechtman of Eastern Consolidated represented the seller 844 Realty LLC; Ety Lee, also of Eastern Consolidated, procured the buyer.

July 30, 2008

MARCUS & MILLICHAP BROKERS RETAIL SALE

by admin July 30, 2008

AUSTIN, TEXAS — Marcus & Millichap has brokered the sale of Grand Avenue Center I, a newly constructed, 19,422-square-foot shopping center located at 1615 Grand Avenue Pkwy. in Austin. Jason Middlebrook of Marcus & Millichap’s Austin office represented the seller in the transaction; Casey Beasley of Kemp Properties represented the buyer. Both parties were undisclosed.

July 30, 2008

Restaurant Southeast

MARCUS & MILLICHAP BROKERS SALE OF FORMER RESTAURANT

by admin July 30, 2008

SUNRISE, FLA. — Ron Osborne of Marcus & Millichap’s Fort Lauderdale, Fla., office brokered Bull Investment’s sale of a 6,244-square-foot vacant restaurant building to Church of God of Prophecy Sunrise/Lauderhill Inc. for $1.35 million. Located at 7730 W. Oakland Park Blvd. in Sunrise, the former Woody’s Bar-B-Que will be converted into a church.

July 30, 2008

Midwest Retail

MARCUS & MILLICHAP BROKERS SALE OF 289,455-SF RETAIL CENTER

by admin July 29, 2008

OLATHE, KAN. — Marcus & Millichap has brokered the sale of Olathe Pointe, a 289,455-square-foot retail center located at the southeast corner of 119th Street and Blackbob Road in Olathe. The shopping center, which consists of two multi-tenant buildings situated on approximately 25 acres, was acquired by Phoenix-based Arciterra. Maefield Development Corp. of Indianapolis sold the property for $29.39 million. Tenants in the center include Marshalls, HomeGoods, Michaels, Off Broadway Shoe Warehouse, Ulta Beauty, dressbarn, and Five Guys Famous Burgers and Fries. John Riser of Marcus & Millichap’s National Retail Group in Indianapolis represented both parties in the transaction.

July 29, 2008

Midwest Retail

FRIEZE HARLEY-DAVIDSON ACHIEVES LEED GOLD CERTIFICATION

by admin July 29, 2008

O’FALLON, ILL. — St. Louis based Vertegy — a design, procurement and construction consulting service for green and sustainable facilities — has helped guide the sustainable design of the recently completed Frieze Harley-Davidson dealership located in O’Fallon. The 33,000-square-foot, LEED Gold-certified building, which houses a showroom and maintenance shop, is the first LEED-certified Harley-Davidson dealership in the United States. Partially powered by wind turbine, the facility was constructed with insulated concrete forms, creating an energy-efficient structural wall system that provides an insulation R-value of 40. Additional sustainable elements of the facility include rapidly renewable bamboo wood flooring, an innovative lighting system and a radiant floor system in the maintenance shop, which is heated from burnt waste oil. Trumpet Builders acted as the general contractor for the project, and Karasek Architects designed the new facility. The cost of completion was not disclosed.

July 29, 2008

Midwest Retail

NAI OLYMPIA PARTNERS CLOSES TWO INDIANA RETAIL INVESTMENT TRANSACTIONS

by admin July 29, 2008

INDIANAPOLIS AND AVON, IND. — Janice Paine and Jason Speckman of NAI Olympia Partners have closed two investment transactions in Indiana. Paine and Speckman have brokered the sale of a 6,840-square-foot retail building located at 11120 E. Washington St. in Indianapolis. The facility was acquired by an out-of-state buyer for an undisclosed amount. Additionally, the pair has brokered the sale of a 7,370-square-foot retail building located at 7474 E. US Highway 36 in Avon. A&E Leasing purchased the facility for an undisclosed amount. Both newly constructed buildings are leased to AutoZone Inc.

July 29, 2008

Northeast Retail

TRB & ASSOCIATES COMPLETES $6 MILLION RETAIL SALE

by admin July 29, 2008

FITCHBURG, MASS. — Lincoln, Mass.-based TRB & Associates has completed the sale of Wallace Plaza Shopping Center & Storage Facility, a 127,460-square-foot retail property located at 353 John Fitch Hwy. in Fitchburg for $6 million. The shopping center is anchored by Market Basket and Big Lots. Thomas Blakely of TRB represented the seller, Kent Realty Fitchburg. David Lenger of Keller Williams Realty represented the undisclosed buyer, which plans to improve and re-tenant the property.

July 29, 2008

Retail Texas

LAUTH OPENS BRYAN TOWNE CENTER

by admin July 29, 2008

BRYAN, TEXAS — Indianapolis-based Lauth has held the grand opening for Bryan Towne Center, a 400,000-square-foot retail development located near Texas A&M University in neighboring Bryan. The retail center was constructed as a “power village”, which combines aspects of a power center tenants with a lifestyle center design. It is anchored by a 127,000-square-foot Target, with additional retailers including Rack Room Shoes and rue21. Additional stores opening soon include Shipley’s Donuts, Nailtopia, Anytime Fitness and Baskin Robbins. Other retailers and restaurants will be announced in the future.

July 29, 2008

Retail Western

CONSTRUCTION COMPLETE FOR 18,400-SF RETAIL CENTER

by admin July 29, 2008

FONTANA, CALIF. — Colton, Calif.-based Hodgdon Miank Construction Inc. has completed the construction of Heritage Crossing, an 18,400-square-foot retail center in Fontana. The $6.8 million project consists of a multi-tenant retail building, a state-of-the-art Jump Start Express Car Wash and Miguel’s Jr. Mexican Food restaurant. The project is located at 7460 and 7490 Cherry Avenue in the northwest portion of Fontana. Hodgdon Miank served as general contractor for the site while working with the two separate owners, Heritage Crossing LLC and Miguel’s, which owns its own building. Irvine, Calif.-based Andy Perez & Associates provided architectural services for the project. RBI Retail Brokers’ Riverside, Calif., office is marketing and leasing the property.

July 29, 2008

Retail Southeast

DBSI DEVELOPMENT BREAKS GROUND ON THE SHOPPES AT LEXINGTON

by admin July 28, 2008

LEXINGTON, S.C. — Boise, Idaho-based DBSI Development recently broke ground on the 7,300-square-foot, $3.25 million retail center The Shoppes at Lexington, located on Highway 378 in Lexington. Construction will begin after the site’s current occupant, Southtrust Bank, is demolished. AT&T is the first tenant, signing a lease for 3,500 square feet of retail space. The Shoppes at Lexington will deliver in mid-November.

July 28, 2008

Newer Posts

Older Posts