Retail

CBRE Arranges $67.1M Acquisition Loan for Office, Retail Portfolio in Austin

by Taylor Williams June 21, 2023

AUSTIN, TEXAS — CBRE has arranged a $67.1 million acquisition loan for a portfolio of 12 office buildings and one retail building totaling 547,395 square feet in Austin. The buildings are situated on a combined 42 acres within Braker Business Park. Bill Chiles, Scott Peterson, Colby Matzke and Brian Cruz of CBRE arranged the five-year, nonrecourse loan on behalf of the borrower, California-based M.I.G. Capital. The direct lender was not disclosed. The buyer previously purchased three other buildings within Braker Business Park in 2016.

June 21, 2023

Development Leasing Activity Mixed-Use Retail Southeast Tennessee

Southwest Value Partners, AEG Sign Iconix Fitness to 40,000 SF Lease at Nashville Yards

by John Nelson June 21, 2023

NASHVILLE, TENN. — Southwest Value Partners and AEG, joint venture partners and co-developers of the 18-acre Nashville Yards mixed-use development, have signed Iconix Fitness to a 40,000-square-foot retail lease. Michael Townsend of Townsend & Associates advised Iconix Fitness on the lease transaction. The high-end wellness and recovery-focused fitness operator plans to open the new club in summer 2025. Iconix will occupy the entire second floor of Nashville Yards’ 420,000-square-foot, Class A creative office building, which will also house an EVO Entertainment venue. The Iconix club will have a dedicated entry on the ground floor with a retail space offering fitness apparel, as well as a health-focused café with an adjacent patio space that will be used to host social events for members. The club also plans to activate the more than seven acres of open green spaces at Nashville Yards for special events and classes. Additionally, the venue will have a 2,500-square-foot recovery area that will feature infrared sauna, cold plunge, red light therapy and compression therapy treatments.

June 21, 2023

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Partners Arranges Sale of 64,917 SF Retail Property in Metro Boston

by Taylor Williams June 21, 2023

FRAMINGHAM, MASS. — Atlantic Capital Partners, a division of Boston-based Atlantic Realty, has arranged the sale of a 64,917-square-foot retail property in Framingham, a western suburb of Boston, that is leased to grocer Stop & Shop. The site spans 7.6 acres and has an average daily traffic count of more than 68,500 vehicles. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

June 21, 2023

Acquisitions New Hampshire Northeast Retail

Torrington Properties Acquires Shopping Center in Durham, New Hampshire, for $8.8M

by Taylor Williams June 21, 2023

DURHAM, N.H. — Locally based investment firm Torrington Properties has acquired Mill Road Plaza, a 53,280-square-foot shopping center in Durham, about 70 miles north of Boston, for $8.8 million. Grocer Hannaford anchors the center, which sits on 10 acres. Other tenants include Allegiant Physical Therapy, Appledore Family Medicine & Pediatrics, Domino’s Pizza, Mei Wei, Rite Aid and The Works Café. The seller was Colonial Durham Associates. David Choate and Abigail Bachman of Colliers brokered the deal.

June 21, 2023

Development Restaurant Retail Texas

Parkway Construction Breaks Ground on 70,000 SF Entertainment Center in Allen, Texas

by Taylor Williams June 20, 2023

Parkway Construction has broken ground on a 70,000-square-foot venue for Austin-based High 5 Entertainment in Allen, located on the northeastern outskirts of Dallas. The venue is located within The Farm in Allen, a 135-acre mixed-use development. The entertainment center will feature a landscaped miniature golf course, a 24-lane bowling alley, two-story laser tag arena, axe throwing arena, escape rooms and a scratch kitchen with a full bar. Completion is slated for next spring. JaRyCo is the master developer of The Farm in Allen.

June 20, 2023

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $6.7M Sale of West Miami Store Leased to Walgreens

by John Nelson June 20, 2023

MIAMI — Marcus & Millichap has brokered the $6.7 million sale of a freestanding store in west Miami that is leased to Walgreens. The 13,650-square-foot store is located on a 1.4-acre parcel at 16690 SW 88th St. and is an outparcel to Kendall Pointe, a shopping center anchored by Aldi and PetSmart. Built in 2004, the store is subject to a new 15-year triple-net lease with Walgreens. Jonathan De La Rosa and Eduardo Toledo of Marcus & Millichap’s Miami office represented the buyer, a local private investment firm, in the transaction. The seller was also not disclosed.

June 20, 2023

Acquisitions Midwest Nebraska Retail

Marcus & Millichap Arranges $3.6M Sale of Retail Property in Omaha

by Kristin Harlow June 20, 2023

OMAHA, NEB. — Marcus & Millichap has arranged the sale of a 5,412-square-foot retail property in Omaha for $3.6 million. Constructed in 2021, the building is home to Bank of the West and Dave’s Hot Chicken and is located at 339 N. Saddle Creek Road. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

June 20, 2023

Acquisitions Illinois Midwest Retail

Quantum Brokers Sale of Dollar General-Occupied Property in Winthrop Harbor, Illinois

by Kristin Harlow June 20, 2023

WINTHROP HARBOR, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a single-tenant retail property occupied by Dollar General in Winthrop Harbor, a city in Northeast Illinois. The sales price was undisclosed. The building was constructed in 2013 and is located at 914 Sheridan Road. Dollar General signed a 15-year lease in 2013. Daniel Waszak of Quantum represented the buyer, a New York-based investor. An Illinois-based investor was the seller.

June 20, 2023

California Development Mixed-Use Multifamily Retail Western

Carmel Partners Opens 910-Unit VOX at Cumulus Apartments in Los Angeles

by Jeff Shaw June 20, 2023

LOS ANGELES — Carmel Partners has completed the development of VOX at Cumulus, a 14-acre mixed-use community on the site of the former Cumulus radio station towers in Los Angeles. VOX at Cumulus features 910 apartment and townhome units, including studios, one-, two- and three-bedroom floor plants. The property also offers 100,000 square feet of retail space anchored by a Whole Foods Market. The project development team also included TCA Architects (architects), DCI (structural engineering), AMPAM (plumbing), PSOMAS (civil), DFDA (mechanical), Seal Electric (electrical) and MLA (landscaping).

June 20, 2023

Acquisitions Arizona Retail Western

Whitestone Acquires Arcadia Towne Center in Phoenix for $25.3M

by Jeff Shaw June 20, 2023

PHOENIX — Whitestone REIT has acquired Arcadia Towne Center, a 70,000-square-foot retail center in Phoenix, for $25.3 million. A Safeway, not included in the sale, anchors the center. Tenants at the property include CVS/pharmacy, Tutor Time, Mathnasium, Over Easy, Sole Ports and Puff & Fluff Grooming. The seller was not disclosed.

June 20, 2023

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