Retail

Colliers Negotiates $3.2M Sale of Retail Strip Center in Tallahassee

by Alex Tostado March 30, 2020

TALLAHASSEE, FLA. — Colliers International has negotiated the $3.2 million sale of Villages at Apalachee, a 9,026-square-foot retail strip center in Tallahassee. The property is situated at 1435 E. Lafayette St., two miles east of downtown Tallahassee and across the street from Governor’s Square Mall. Villages at Apalachee was fully leased to Uncle Maddio’s Pizza, Allure Nails, Vape Haven and Aveda-Soleil Hair Salon at the time of sale. Mike Milano, Sean Glickman, Chris Smith and Brandon Rapone of Colliers represented the seller, Shuler Properties, in the transaction. EM Real Estate Development Florida LLC, which is affiliated with an investment firm based in California, acquired the asset.

March 30, 2020

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 13,753 SF Strawberry Plaza Retail Center in Metro Houston

by Taylor Williams March 30, 2020

PASADENA, TEXAS — Marcus & Millichap has brokered the sale of Strawberry Plaza, a 13,753-square-foot retail center located in the eastern Houston suburb of Pasadena. The asset was listed for $1.7 million. Riley Sharman of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company.

March 30, 2020

Connecticut Loans Northeast Retail

ABS Altman Warwick Arranges $15.2M Refinancing Loan for Retail Center in Hartford, Connecticut

by Alex Patton March 30, 2020

HARTFORD, CONN. — ABS Altman Warwick, a division of ABS Partners Real Estate, has arranged a $15.2 million permanent refinancing loan for Charter Oak Marketplace, a 309,800-square-foot shopping center located in Hartford. An undisclosed direct lender provided the seven-year, nonrecourse loan, which features a fixed interest rate of 3.5 percent. Walmart anchors the shopping center along with tenants including Marshall’s and Dollar Tree, as well as several restaurants. The borrower was Paramount Realty. Morris Dweck of ABS Altman Warwick originated the loan.

March 30, 2020

Acquisitions Illinois Midwest Retail

Valore Ventures Sells 7,784 SF Retail Center in Evergreen Park, Illinois

by Kristin Harlow March 30, 2020

EVERGREEN PARK, ILL. — Valore Ventures has sold Evergreen Park Towne Center in Evergreen Park, about 15 miles south of Chicago. The sales price was undisclosed. The 7,784-square-foot retail property is located at 8730 S. Kedzie Ave. It is fully leased to tenants such as Boost Mobile and Edible Arrangements. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented Valore in the sale. The buyer was undisclosed.

March 30, 2020

Acquisitions California Retail Western

Kidder Mathews Arranges $20.5M Sale of High-Street Retail Property in West Hollywood

by Amy Works March 30, 2020

WEST HOLLYWOOD, CALIF. — Kidder Mathews has facilitated the sale of a high-street retail property located at 8532 Melrose Ave. in West Hollywood. Blatteis & Schnur, a Century City, Calif.-based real estate investor, acquired the property from a New York-based investor for $20.5 million. Situated in a top-tier commercial corridor of Los Angeles, the building features 4,946 square feet of retail space. The current tenant is Lululemon Athletica. Imperial Capital represented the buyer, while Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the transaction.

March 30, 2020

Acquisitions Arizona Retail Western

CBRE Brokers Sale of Single-Tenant Retail Ground Lease in Gilbert, Arizona

by Amy Works March 30, 2020

GILBERT, ARIZ. — CBRE has arranged the sale of a single-tenant retail ground lease at 6278 S. Higley Road in Gilbert. Arizona-based STF Retail Partners 1 sold the asset to Honggie Kim, a California-based private investor, for an undisclosed price. AutoZone occupies the 7,370-square-foot building, which is located within Chandler Heights Village shopping center. Joe Compagno of CBRE’s Net Lease Property Group in Phoenix represented the seller and buyer in the deal.

March 30, 2020

Acquisitions Kentucky Retail Southeast

Cotsworld Group Acquires 134,000 SF Shopping Center Near Cincinnati

by Alex Tostado March 27, 2020

FLORENCE, KY. — The Cotsworld Group has acquired Turfway Plaza, a 134,000-square-foot retail center in Florence. At the time of sale, the property was 96 percent leased to tenants including Big Lots, Party Town, Office Depot, Rent-A-Center, Family Dollar, Cosmo Prof, Check ’n Go and H&R Block. The property is situated at 167 Lloyd Ave., 12 miles south of downtown Cincinnati. Jeff Johnston and Chris Prosser of Colliers International represented the undisclosed seller in the transaction. The Harrison, N.Y.-based buyer purchased the property for an undisclosed amount.

March 27, 2020

Leasing Activity Retail Southeast Virginia

Big Lots Signs 36,815 SF Lease to Anchor The Shops at England Run in Northern Virginia

by Alex Tostado March 27, 2020

FREDERICKSBURG, VA. — Big Lots has signed a lease to anchor The Shops at England Run, a retail center in Fredericksburg. The Big Lots store will span 36,815 square feet and is expected to open this fall. England Run is located at the intersection of Warrenton Road and Plantation Drive, 50 miles south of Washington, D.C. The landlord, MTH Management, has also signed leases with Goodwill, PNC, H&R Block, Taco Bell, Pancho Villa Mexican Restaurant and Skrimp Shack.

March 27, 2020

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $3.6M Sale of Firestone-Leased Retail Property Near Tampa

by Alex Tostado March 27, 2020

SPRING HILL, FLA. — Marcus & Millichap has brokered the $3.6 million sale of a Firestone Complete Auto Care in Spring Hill. The property, which comprises 5,789 square feet, is situated at 4833 Commercial Way, 45 miles north of downtown Tampa. The property is triple-net-leased to Firestone. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, FS Spring Hill LLC, in the transaction. David R. David of WA Development represented the buyer, 4 H Ranch LLC. McMinn says the property had multiple offers due to its long-term lease with rental increases and Firestone’s status as an internet-resistant business.

March 27, 2020

Acquisitions California Net Lease Retail Western

Faris Lee Negotiates $16M Sale of LA Fitness-Occupied Property in Bay Area

by Amy Works March 27, 2020

HAYWARD, CALIF. — Faris Lee Investments has brokered the sale of a retail property located at 2401 Whipple Road in Hayward. A private investor acquired the asset from an undisclosed seller for $16 million. LA Fitness (City Sports Club) occupies the 41,000-square-foot facility on a corporate-guaranteed, absolute triple-net lease. Matt Brooks, Joe Chichester and Nicholas Coo of Faris Lee represented the seller and procured the buyer in the transaction.

March 27, 2020

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