Retail

STONERIDGE CENTRE PARTNERS COMPLETES 518,000-SQUARE-FOOT SHOPPING CENTER

by admin June 3, 2008

MORENO VALLEY, CALIF. — Stoneridge Centre Partners has completed the first phase of Stoneridge Towne Center, a 518,000-square-foot retail center in Moreno Valley. Located at the gateway of master-planned Stoneridge Ranch, the center has a variety of national tenants, including SuperTarget, Best Buy, Kohl’s, Office Max, Jamba Juice, Starbucks Coffee and See’s Candies. Stoneridge Centre Partners plans to add 86,326 square feet of retail space to the 55-acre center, which will bring the GLA to approximately 600,000 square feet.

June 3, 2008

GLENDALE SQUARE TRADES HANDS FOR $19.5 MILLION

by admin June 2, 2008

GLENDALE, CALIF. — Burbank, Calif.-based Glendale Square Holdings LLC has purchased Glendale Square, a 46,196-square-foot shopping center located at 1010 N. Glendale Ave. in Glendale. Glendale Square LLC, also known as Placentia, Calif.-based FKC Properties Inc., sold the grocery-anchored property for $19.5 million or $422 per square foot. Built in 1994, the center was 93 percent occupied at closing with a variety of tenants, including Ralphs, AIM Mail Center, Allstate Insurance, Baskin-Robins, Curves for Women, Sylvan Learning and Subway. Alan Krueger and Richard Longobardo of Marcus & Millichap’s Ontario, Calif., office represented the buyer; Edward Hanley and Eric Wohl of Hanley Investment Group Real Estate Advisors, along with Michael Hefner of Voit Commercial Brokerage, represented the seller in the transaction.

June 2, 2008

Midwest Retail

JD REALTY COMPLETES TWO RETAIL SALES

by admin May 30, 2008

ORLAND PARK, ILL. AND CHICAGO — Austen Alexa of Downers Grove, Ill.-based Champion Realty Advisors has brokered two retail sales on behalf of JD Realty. In Orland Park, JD Realty acquired a $5 million, 49,219-square-foot Dominick’s Finer Foods located at 1508 S. La Grange Rd. The seller, Amalgamated Trust & Savings Bank – Trust No. 4583, negotiated the deal in-house. In Chicago, JD Realty purchased a 10,000-square-foot Walgreens located at 4000 W. 59th St. for $2 million. The seller, 4000 W. 59th Street Chicago LLC, negotiated the deal in-house.

May 30, 2008

Northeast Retail

COSTCO HOLDS GRAND OPENING

by admin May 30, 2008

MANAHAWKIN, N.J. — The grand opening has been held for a 156,000-square-foot Costco located at 200 Stafford Park Blvd. in Manahawkin. The wholesale warehouse chain is located within the retail component of Stafford Park, a mixed-use redevelopment project that is currently under development by The Walters Group. Costco will join Target, Best Buy, Dick’s Sporting Goods and PetSmart in the power center portion of the retail component. Costco is the first retail tenant to open in Stafford Park’s retail center, which should be fully open by 2009.

May 30, 2008

Retail Texas

TRAMMELL CROW BEGINS FINAL PHASES OF ATASCOCITA COMMONS

by admin May 30, 2008

HARRIS COUNTY, TEXAS — The Houston office of Trammell Crow Co. has begun construction of the remaining phases of Atascocita Commons Shopping Center, a 53-acre retail development located northeast of Houston on FM 1960 in northeast Harris County. Construction will consist of a 177,000-square-foot SuperTarget, an 88,000-square-foot Kohl’s, a 50,000-square-foot TJ Maxx/Home Goods and a 30,000-square-foot Ross Dress For Less — all of which will co-anchor the 500,000-square-foot development. Additional tenants will include Dress Barn, Famous Footwear, Panera Bread, Zales Jewelers and Johnny Carino’s. Tenants previously announced include Palais Royal, Petco and Office Depot. Construction of the shopping center first began in late 2005, and more than 182,000 square feet of space already is open. Completion of the remaining phases is scheduled for later this year. Matt Keener and Alex Makris of CB Richard Ellis will handle leasing for the remaining space.

May 30, 2008

Retail Western

CBRE BROKERS THREE SHOPPING CENTER SALES

by admin May 30, 2008

WOODLAND AND TULARE, CALIF. — John DuBois, Jon Gianulias and Mark Denholm of CB Richard Ellis have completed three separate shopping center transactions in California. The team represented the seller of Gibson Shopping Center in Woodland. Built in 2004, the 88,201-square-foot center is anchored by Bel Air supermarket. Dean Copans of Marcus & Millichap represented the undisclosed seller. The acquisition price was not disclosed. Additionally, the team represented a joint venture lead by Kimco in the disposition of The Shops at Bakersfield and Heritage Place in Tulare. A local investor purchased The Shops at Bakersfield. Built in 1977, the two-building, value-add 14,000-square-foot property sold for an undisclosed price. Anchored by a SaveMart, Rite Aid and Dollar Tree, the 120,000-square-foot Heritage Place was constructed in 1985. Cyrus Neek represented the undisclosed buyer. The acquisition price was not disclosed.

May 30, 2008

Retail Southeast

PEBB ENTERPRISES COMPLETES 210,000 SQUARE FEET OF RETAIL

by admin May 29, 2008

WELLINGTON, FLA. — Fort Lauderdale, Fla.-based PEBB Enterprises has completed The Shoppes of Isla Verde, a 210,000-square-foot power center in Wellington. The Shoppes is the commercial component of a 54-acre mixed-use project. Tenants include Best Buy, The Sports Authority, Office Max, Petco, ULTA, Off Broadway Shoes and CVS.

May 29, 2008

Retail Southeast

MARCUS & MILLICHAP FACILITATES SALE OF RETAIL, OFFICE PROPERTIES

by admin May 29, 2008

LAKE WORTH, FLA. — Lake Worth Plaza LLC has acquired three properties in Lake Worth from Bleeker-Grove Associates FL LLC for $1.9 million. The transaction includes a 5,795-square-foot shopping strip located at 220 S. Dixie Hwy.; a 5,000-square-foot shopping strip located at 210 S. Dixie Hwy.; and a 5,300-square-foot office building located at 230 S. Dixie Hwy. David Luther and Justin Hopkins with the Marcus & Millichap’s Fort Lauderdale office represented the seller and secured the buyer in the transaction.

May 29, 2008

Midwest Retail

JONES LANG LASALLE ARRANGES $12.5 MILLION ACQUISITION LOAN

by admin May 29, 2008

CHICAGO — Steve Skok of Chicago-based Jones Lang LaSalle has secured $12.5 million in acquisition financing on behalf of Sandor Development. The financing allowed the company to complete the $22.5 million purchase of a 50,664-square-foot, Class A grocery store located at 225 East Grand Avenue in the Streeterville submarket of downtown Chicago. The store is fully leased long-term to Dominick’s and is part of CityFront Plaza, a mixed-use community that will total 1.6 million square feet at full build out.

May 29, 2008

Northeast Retail

KDA COMPLETES $3.6 MILLION LAND SALE

by admin May 29, 2008

NEW YORK CITY — Brooklyn, New York City-based Kalmon Dolgin Affiliates (KDA) has completed the sale of a 36,000-square-foot development site, located at 182-02 Jamaica Ave. in the Jamaica neighborhood of Queens, New York City, for $3.6 million. The site features 200 feet of Jamaica Avenue frontage, as well as an 11,500-square-foot parking garage. The property is situated within a recently rezoned New York State Empire Zone, which offers development incentives. Dmitri Gourianov of KDA represented the buyer, a private Brooklyn-based investor, which plans to development the property for retail use. Barry Fishback of Robert K. Futterman & Associates represented the seller, Jamaica Motors.

May 29, 2008

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