Retail

Marcus & Millichap Negotiates Sale of 4,425 SF Net-Leased Retail Property in Bullhead City, Arizona

by Amy Works September 12, 2023

BULLHEAD CITY, ARIZ. — Marcus & Millichap has arranged the sale of net-leased retail property, located at 1885 AZ-95 in Bullhead City, near the state borders of both Nevada and California. Maverik occupies the 4,425-square-foot building, which was completed this year. A limited liability company sold the property to an undisclosed buyer for $2.7 million. The sale included a new, 20-year, absolute triple-net corporate ground lease with an eight percent rental increase every five years. Mark Ruble and Chris Lund of Marcus & Millichap’s Phoenix office represented the seller in the transaction.

September 12, 2023

Development Nevada Restaurant Retail Western

Diversified Partners Completes Construction of Starbucks Location in Henderson, Nevada

by Amy Works September 12, 2023

HENDERSON, NEV. — Diversified Partners has completed the construction of a single-tenant building at 892 Sunset Road in Henderson. The project team includes Kitrell Jenson Contractors and RKAA Architects. Starbucks Coffee will occupy the 2,573-square-foot standalone building, which features a double drive-thru and 900-square-foot outdoor patio space. The building features the latest Starbucks prototype.

September 12, 2023

Acquisitions North Carolina Retail Southeast

CenterSquare Acquires 105,785 SF Shopping Center in Wilmington, North Carolina

by John Nelson September 11, 2023

WILMINGTON, N.C. — CenterSquare has acquired The Forum, a 105,785-square-foot shopping center located in Wilmington. The property was fully leased at the time of sale to tenants including Dunkin’, Jimmy John’s, Club Pilates, The UPS Store, Chop’t, Bento Box, True Blue Butcher and Osteria Cicchetti. The seller and sales price were not disclosed.

September 11, 2023

Acquisitions Florida Retail Southeast

Azora Purchases Retail Building in Miami Beach for $16M

by John Nelson September 11, 2023

MIAMI BEACH, FLA. — Azora has purchased a retail building in the South Beach neighborhood of Miami Beach for $16 million. Located at 1000 17th St., the property totals 18,000 square feet. Azora acquired the property, which was fully leased at the time of sale, through its subsidiary Azora Exan. The buyer plans to maintain the current operation of the building, with gradual increases to rental rates. The seller was not disclosed.

September 11, 2023

Acquisitions Retail Texas

Partners Real Estate Sells 58,929 SF Shopping Center in Metro Austin

by Taylor Williams September 11, 2023

ROUND ROCK, TEXAS — The investment arm of Partners Real Estate has sold Triangle Center, a 58,929-square-foot shopping center located in the northern Austin suburb of Round Rock. According to LoopNet Inc., the property was built on 6.1 acres in 1985 and is home to tenants such as Sherwin-Williams, Pizza Hut, Animal Care Clinic and Express Employment. Cathy Nabours and Kyle Shaffer of SRS Real Estate Partners represented Partners in the transaction. The buyer was not disclosed.

September 11, 2023

Leasing Activity Retail Texas

Three Tenants Sign Retail Leases at Hillside Village in Northeast Dallas

by Taylor Williams September 11, 2023

DALLAS —Three tenants have signed new retail leases at Hillside Village, a shopping center located at the intersection of Abrams Road and Mockingbird Lane in northeast Dallas. Modern Animal has opened a veterinary clinic at the property, and JuiceLand and Sephora will also open later this year and next year, respectively. Northwood Retail owns Hillside Village.

September 11, 2023

Acquisitions New Jersey Northeast Retail

JLL Negotiates Sale of 214,896 SF Shopping Center in Delran, New Jersey

by Taylor Williams September 11, 2023

DELRAN, N.J. — JLL has negotiated the sale of Hartford Corners, a 214,896-square-foot shopping center in the Southern New Jersey community of Delran. Anchored by grocer ShopRite, the center was 95 percent leased at the time of sale to tenants such as Planet Fitness, Five Below, Virtua Health, Five Guys and Mattress Firm. Jim Galbally, Christopher Munley, Colin Behr, James Graf and Patrick Higgins of JLL represented the seller, Principal Asset Management, in the transaction. Jim Cadranell, also with JLL, led the team that arranged acquisition financing on behalf of the buyer, Haverford Properties.

September 11, 2023

Acquisitions New Jersey Northeast Retail

Agus Holdings, Treeco Acquire 10-Screen Cinemark Theater in Wachtung, New Jersey

by Taylor Williams September 11, 2023

WACHTUNG, N.J. — A joint venture between two regional investment firms, Agus Holdings and Treeco, has acquired a 10-screen Cinemark movie theater in the Northern New Jersey community of Wachtung. The theater was constructed in 2019 at the six-acre site of a former Sears store, spans 37,630 square feet and features luxury recliners and an XD auditorium. J.B. Bruno, Kevin O’Hearn, Ryan Robertson and Jose Cruz of JLL represented the undisclosed seller in the transaction.

September 11, 2023

Acquisitions Net Lease Northeast Pennsylvania Restaurant Retail

Marcus & Millichap Brokers $2.4M Sale of Retail Property in Altoona, Pennsylvania

by Taylor Williams September 11, 2023

ALTOONA, PA. — Marcus & Millichap has brokered the $2.4 million sale of a 5,290-square-foot retail property at 220 Park Hills Plaza in Altoona, located roughly midway between Pittsburgh and Harrisburg, that is net leased to Denny’s. Mark Taylor, Howard Levy and Brian Sy of Marcus & Millichap represented the buyer, a private investor that acquired the asset via a 1031 exchange, in the transaction. The seller was a REIT. Both parties requested anonymity.

September 11, 2023

Leasing Activity New York Northeast Retail

54D Opens 7,000 SF Fitness Club in Manhattan

by Taylor Williams September 11, 2023

NEW YORK CITY — Fitness club 54D has opened a 7,000-square-foot gym on the ground floor of 125 West 25th Street, a 12-story building in Manhattan. Westbuilt Construction Managers and architecture firm THIRLWALL completed the $2.2 million renovation and build-out of the space. The project team also included Mija Architecture, Criterion Acoustics, NY Engineers and Stys Hospitality Initiative, the owner’s representative.

September 11, 2023

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