Retail

Taylor McMinn Retail Group Brokers $1.2M Sale of Store in Kinston, North Carolina Leased to Advance Auto Parts

by John Nelson August 31, 2023

KINSTON, N.C. — The Taylor McMinn Retail Group, a retail investment sales team within Marcus & Millichap, has brokered the $1.2 million sale of a 7,000-square-foot store in Kinston leased to Advance Auto Parts. The retailer, which has operated at the store since it was built in 2003, recently signed a new 10-year lease at the property. The Advance Auto Parts is situated on a 0.7-acre site at 302 W. Vernon Ave., about 85 miles north of Wilmington, N.C., via I-40. Don McMinn of Taylor McMinn represented the undisclosed seller in the transaction. The buyer was an out-of-state 1031 investor. “Investment-grade tenants with lower rents and price points continue to receive strong demand in an environment where debt is a challenge,” says McMinn.

August 31, 2023

Acquisitions Retail Texas

JLL Arranges Sale of 40,589 SF Shopping Center in Rowlett, Texas

by Taylor Williams August 31, 2023

ROWLETT, TEXAS — JLL has arranged the sale of Lake Pointe Market, a 40,589-square-foot shopping center in Rowlett, a northeastern suburb of Dallas. The center was 97 percent leased at the time of sale to tenants such as PetCo, DCP Equity Partners, Burger Island, OneMain Financial, Bank of America, Verizon Wireless and SuperCuts. Adam Howells, Chris Gerard and Megan Babovec of JLL represented the seller, Main Street Investment Co., in the deal and procured Ohio-based retail REIT Phillips Edison & Co. as the buyer.

August 31, 2023

Acquisitions California Restaurant Retail Western

Hanley Brokers $3.2M Sale of Starbucks-Occupied Retail Property in Fresno, California

by Amy Works August 31, 2023

FRESNO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million sale of a single-tenant property located in Fresno. Starbucks Coffee occupies the newly constructed, 2,250-square-foot building. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Laguna Canyon Group, in the transaction. Patrick Conway of CBRE represented the buyer, a locally based private investor.

August 31, 2023

Acquisitions Retail Texas

STRIVE Arranges Sale of 13,910 SF Retail Strip Center in Arlington

by Taylor Williams August 30, 2023

ARLINGTON, TEXAS — Dallas-based investment sales brokerage firm STRIVE has arranged the sale of College Crossing, a 13,910-square-foot retail strip center in Arlington. Hudson Lambert of STRIVE represented the seller and procured the buyer, both of which were locally based entities that requested anonymity, in the transaction. The center was fully leased at the time of sale to tenants such as Caress Dental, Soleil Cutz, Crown’s BBQ and Foxi Nails.

August 30, 2023

Leasing Activity New Jersey Northeast Retail

Pure Hockey Signs 11,340 SF Retail Lease in Kenilworth, New Jersey

by Taylor Williams August 30, 2023

KENILWORTH, N.J. — Sporting equipment retailer Pure Hockey has signed a retail lease to open an 11,340-square-foot store in the Central New Jersey community of Kenilworth. The tenant, which operates about 60 stores nationwide, has backfilled and converted a space formerly occupied by a laundromat/dry cleaner. Marc Palestina and Chuck Lanyard of The Goldstein Group represented the landlord, an entity doing business as Kenilworth 2480 Route 22 LLC, in the lease negotiations. Dean Tselepis of Newmark represented the tenant.

August 30, 2023

Acquisitions Midwest Retail Wisconsin

Marcus & Millichap Brokers $14.9M Sale of Shopping Center in Waukesha, Wisconsin

by Kristin Harlow August 30, 2023

WAUKESHA, WIS. — Marcus & Millichap has brokered the $14.9 million sale of a 112,010-square-foot shopping center in Waukesha, a western suburb of Milwaukee. Sendek’s Grocery Store anchors the property, which is also home to Walgreens, McDonald’s and Cost Cutters. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. The team also procured and represented the buyer, a Michigan-based limited liability company.

August 30, 2023

Acquisitions Retail Texas

JLL Arranges Sale of 211,971 SF Shopping Center in Metro Dallas

by Taylor Williams August 29, 2023

ROCKWALL, TEXAS — JLL has arranged the sale of Rockwall Market, a 211,971-square-foot shopping center located in the eastern Dallas suburb of Rockwall. Built in 1999, the property was fully leased at the time of sale to tenants such as Ross Dress for Less, Burkes Outlet, Michaels, Old Navy and Petco. Adam Howells, Ryan Shore and Megan Babovec of JLL represented the undisclosed seller in the transaction. Dunhill Partners acquired the property for an undisclosed price.

August 29, 2023

Development Retail Texas

Foremark Development Nears Completion of 28,000 SF Retail Project in Sachse, Texas

by Taylor Williams August 29, 2023

SACHSE, TEXAS — Locally based firm Foremark Development is nearing full completion of The Shops at Sachse, a 28,000-square-foot retail project located on the eastern outskirts of Dallas. The center’s two multi-tenant buildings totaling roughly 18,000 square feet are now complete, and construction of a 10,000-square-foot build-to-suit for The Learning Center is underway and slated for a mid-2024 delivery. Other tenants include Starbucks, Jake’s Burgers & Beer and Tropical Smoothie Café.

August 29, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

PEBB, Falcone Group Sign Three New Restaurants to Beachwalk Mixed-Use Project in Jacksonville

by John Nelson August 29, 2023

JACKSONVILLE, FLA. — PEBB Enterprises and Falcone Group have signed three new restaurant tenants to join Beachwalk, a mixed-use project currently underway in Jacksonville. Starbucks Coffee, Fancy Sushi and Playa Bowls will occupy 2,500, 1,500 and 1,200 square feet, respectively. The new leases bring the retail and restaurant space at the development, which totals 170,000 square feet, to 55 percent occupancy. Other tenants at the project include Fysh Bar & Grill, Noire Nail Bar, F45 Fitness, BurgerFi, Supercuts, Kilwins, Bagels R Us, Island Fin Poke, The Covery and Union 76 Daybreak Market. Upon completion, the development will also feature a 130-room hotel and 348-unit apartment community.

August 29, 2023

Acquisitions Arizona Development Healthcare Industrial Mixed-Use Multifamily Office Restaurant Retail Western

Partnership Purchases 311-Acre Site for Mixed-Use Project in Gilbert, Arizona

by Amy Works August 29, 2023

GILBERT, ARIZ. — Indicap, Colmena Group and Langley Properties have completed the purchase of 311 acres of land at the northwest corner of Power and Warner roads in Gilbert. The property traded for $107.5 million in an all-cash transaction. The buyers plan to develop The Ranch, a billion-dollar mixed-use project on the site. With the land acquisition complete, the project will move to the site planning and design phase, with a groundbreaking slated for third-quarter 2024. The project will include: Jason Hyams of Insight Land and Investments represented the buyer. Danny Perkinson and Scott Perkinson of Perk Prop Real Estate represented the seller, The Dale C. Morrison Trust, in the deal.

August 29, 2023

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