BAKERSFIELD, CALIF. — Faris Lee Investments has brokered the sale of a single-tenant retail property located at 1725 Golden State Ave. in Bakersfield. A Southern California-based private investor sold the asset to an undisclosed buyer for $10.8 million. Grocery store Smart & Final occupies the 26,237-square-foot building on a long-term, absolute triple-net lease basis with rental increases. Sean Cox and Alex Moore of Faris Lee represented the seller in the deal.
CARY, N.C. — Northwood Retail, a shopping center owner and management firm based in Dallas, has sold Waverly Place, a 190,000-square-foot shopping center in the Raleigh suburb of Cary. The sales price was not disclosed, but the Triangle Business Journal reported that the property traded for $88 million. Hines Global Income Trust, a non-listed REIT sponsored by Houston-based Hines, purchased the property. Whole Foods Market anchors Waverly Place, which houses a Cinebistro and 16,000 square feet of office space. Other notable retail tenants include Shake Shack, Drybar and CorePower Yoga. Waverly Place is the first acquisition in Raleigh-Durham for Hines Global Income Trust.
NEW ORLEANS — The Howard Hughes Corp. has sold the Outlet Collection at Riverwalk, an outlet mall near the Port of New Orleans. An entity doing business as Rockstep Riverwalk LLC purchased the property for $34 million. Outlet Collection at Riverwalk spans 264,000 square feet of open-air retail space and houses retailers such as Calvin Klein, Carter’s, Crocs, Gap Facory, Kate Spade, Levi’s, Nordstrom Rack, Polo Ralph Lauren, Samsonite, Tommy Bahama Outlet and Under Armour. Food-and-beverage tenants include Auntie Anne’s, Café Du Monde, Fat Tuesday, Green Leaf’s, Häagen-Dazs, Mandarin Express, Raising Cane’s, Smoothie King and Villa Italian Kitchen. Tom Salanty of NAI Robert Lynn represented Howard Hughes Corp., a publicly traded real estate owner and developer based in Houston, in the transaction.
BOSTON — Atlantic Capital Partners, a division of brokerage firm Atlantic Retail, has arranged the $32.8 million sale of The Shops at Riverwood, a 78,484-square-foot retail center in Boston’s Hyde Park neighborhood. Developed in phases by Finard Properties, the center was fully leased at the time of sale to tenants such as Burger King, Starbucks, Boston Medical and Planet Fitness. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer, Urban Edge Properties, and the seller in the transaction.
YONKERS, N.Y. — Hapik, an indoor climbing concept, has opened a 10,000-square-foot gym in Yonkers, located north of New York City. The gym will be located in the Ridge Hill lifestyle center and will feature 50 different auto belay fun climbing walls ranging from beginner to advanced levels, two ropes courses and a snack bar. The gym is the fitness company’s third in the United States and its 25th worldwide, with 15 in France and seven in the United Kingdom.
WHEATON, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 14,409-square-foot retail property occupied by Walgreens in Wheaton for $11.6 million. The building was constructed in 2010. Walgreens has roughly 13 years remaining on its lease. Daniel Waszak of Quantum represented the buyer, a private 1031 exchange investor based in New York. A Midwest-based REIT was the seller.
NORTH LAS VEGAS, NEV. — Portland, Ore.-based Schnitzer Properties has acquired Westland Center, an industrial and retail property located at the intersection of East Craig and North Pecos roads in North Las Vegas. Terms of the transaction were not released. Totaling 95,213 square feet, Westland Center features six buildings with 43 light industrial and retail units spread across 9.7 acres. Schnitzer Properties has owned and operated property in the greater Las Vegas area since 1994.
MEMPHIS, TENN. — Drapac Capital Partners, a real estate investment firm based in Australia, has sold a 23,362-square-foot retail property located at 2 N. Main St. in downtown Memphis. A flagship Walgreens occupies the bottom two levels of the property, and the top level is vacant space. Studio Capital, an investor and developer based in California, purchased the multi-story property for $2.7 million. Drapac Capital purchased the property in 2015 for $715,000. St. Bourke, a community placemaking and development firm, refurbished the property last year that included new windows, facades, finishes, paint, signage and entryways.
COLORADO SPRINGS, COLO. — CBRE has arranged the sale of Centerpointe Plaza, a neighborhood shopping center located at 5605-5785 North Academy Blvd. in Colorado Springs. A Denver-based private fund acquired the property from Phoenix-based Kinetic Development for $21.4 million. Built in 1983, Centerpointe Plaza features 154,988 square feet of retail space. At the time of sale, Centerpointe Plaza was 85 percent occupied. Current tenants include Dollar Tree, Tuesday Morning, Key Bank, Boot Barn, Whiskey Baron, Winnelson Bath & Kitchen Idea Center and Guiry’s Color Source. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE’s National Retail Partners represented the seller in the deal.
COLUMBUS, OHIO — Amazon is opening an Amazon Style store at Easton Town Center in Columbus. The store will be the first Amazon Style location in the state of Ohio and the second nationwide for the e-commerce giant. The first Amazon Style store opened in the Los Angeles area May 25. As Amazon’s first-ever physical clothing store, Amazon Style is designed to help customers discover fashion looks through a personalized and convenient shopping experience using advanced technology. Customers can scan items on the Amazon Shopping app to send them to fitting rooms or directly to the pickup counter to purchase. In the fitting rooms, customers can use an in-room touchscreen to request additional sizes, colors and styles.