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AcquisitionsFloridaRetailSoutheast

CBRE Brokers $17.2M Sale of Waterfront Shopping Center Near Tampa

by Alex Tostado

MADIERA BEACH, FLA. — CBRE has brokered the $17.2 million sale of The Shops at John’s Pass Village, a 40,771-square-foot shopping center in Madiera Beach. Mark Shellabarger of CBRE represented the undisclosed seller in an online auction that attracted 29 bids. Ben Mallah, an individual buyer, won the bidding process for the waterfront shopping village. The property consists of retail shops, restaurants, a marina and a 325-space parking garage. The Shops at John’s Pass is located about 25 miles west of downtown Tampa.

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AcquisitionsMidwestMinnesotaRetail

Upland Arranges $4.1M Sale of Harbor Freight-Occupied Property in Blaine, Minnesota

by Kristin Harlow

BLAINE, MINN. — Upland Real Estate Group Inc. has arranged the $4.1 million sale of a 16,000-square-foot retail property occupied by Harbor Freight in Blaine, about 15 miles north of Minneapolis. Harbor Freight was founded in 1977 in California as a mail-order hardware company. Today, the company operates more than 1,000 stores across the country. Buyer and seller information was not disclosed, but the buyer purchased the property in an all-cash 1031 exchange.

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Fairmont-Shopping-Center-Pacifica-CA
AcquisitionsCaliforniaRetailWestern

First Washington Realty Acquires Fairmont Shopping Center in Pacifica, California

by Amy Works

PACIFICA, CALIF. — Bethesda, Md.-based First Washington Realty (FWR) has purchased Fairmont Shopping Center, a community shopping center located in Pacifica. Terms of the acquisition, including seller’s name and price, were not released. Situated at the intersection of Hickey and Skyline boulevards, Fairmont Shopping Center features 102,982 square feet of retail space, with Safeway and Rite Aid as anchor tenants. FWR currently owns 103 shopping centers with a value of more than $5.5 billion located in 22 states and the District of Columbia. The company’s centers contain approximately 13.8 million square feet with approximately 2,500 tenants.

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retail-hicksville-new-york
AcquisitionsNew JerseyNortheastRetail

Hanley Investment Group Brokers $6.6M Sale of Retail Center on Long Island

by Alex Patton

HICKSVILLE, N.Y. — Hanley Investment Group (HIG) has brokered the $6.6M Sale of a 13,300-square-foot retail center in Hicksville. The center was 100 percent leased at the time of sale with tenants including Dunkin’, Pizza Hut and DTE Window Tinting. The final sale also included a single-family home near the property. Dylan Mallory and Jeff Lefko of HIG along with Marty Sass of New York-based Silber Investment Properties represented the seller, Riark LLC, in the transaction. Robert Sharfstein of RPS Capital Management represented the buyer, a local investor.

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Leasing ActivityNew JerseyNortheastRetail

Edge Fitness Signs 48,776 SF Retail Lease in Voorhees, New Jersey

by Alex Patton

VOORHEES, N.J. — Edge Fitness Clubs has signed a 48,776-square-foot retail lease at the Echelon Village Plaza in Voorhees, a southeastern suburb of Philadelphia. The gym will anchor the 90,000-square-foot retail center, which also houses a Dunkin’ and Voorhees Veterinary. Scott Benson and Brandon Anapol of Metro Commercial represented Edge Fitness in the lease negotiation. David Dunkelman of Soloff Realty & Development represented the landlord, Site Centers.

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805-S-Val-Vista-Dr-Gilbert-AZ
AcquisitionsArizonaRetailWestern

SRS Real Estate Partners Brokers $2.2M Sale of Walgreens-Occupied Property in Arizona

by Amy Works

GILBERT, ARIZ. — SRS Real Estate Partners has arranged the sale of a single-tenant retail property located at 805 S. Val Vista Drive in Gilbert. An Arizona-based private investor sold the asset to a San Diego-based fund for $2.2 million. Walgreens occupies the 13,905-square-foot property, which was built in 1999 and features a drive-thru and two monument signs. The tenant recently signed a corporate-guaranteed lease extension. Patrick Luther, Britt Raymond and Matthew Mousavi of SRS Real Estate Partners represented the seller, while Jan Fincham of Lee & Associates represented the buyer in the deal.

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DevelopmentRetailTexas

Cinemark to Open Eight-Screen Movie Theater in Cypress, Texas

by Taylor Williams

CYPRESS, TEXAS — Cinemark Holdings will open an eight-screen CUT! by Cinemark movie theater in Cypress, a northwestern suburb of Houston. The theater will feature wall-to-wall screens, enhanced sound systems, a full-service food menu and bar and an outdoor patio with a fireplace and games. Washington Prime Group will develop the theater, with construction scheduled to begin in November and the opening slated for July 2020.

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IllinoisLeasing ActivityMidwestRetail

The RoomPlace Opens Two-Story, 84,000 SF Store at Lincolnwood Town Center in Northern Illinois

by Kristin Harlow

LINCOLNWOOD, ILL. — The RoomPlace, an Illinois-based furniture store, has opened at Lincolnwood Town Center in northern Illinois. The retailer replaces a former Carson’s store. The 84,000-square-foot space incorporates three brands — The RoomPlace, The MattressPlace and RP Outlet. The location marks The RoomPlace’s largest store to date. Washington Prime Group Inc. owns Lincolnwood Town Center. Other retailers at the shopping mall include Kohl’s, Old Navy, Bath & Body Works, Foot Locker, Express and Champs Sports.

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LoansMidwestOhioRetail

NorthMarq Arranges $7M Acquisition Loan for Southland 75 Shopping Center in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — NorthMarq has arranged a $7 million loan for the acquisition of Southland 75 Shopping Center in Dayton. The 117,410-square-foot retail center is located at 8265-8361 Springboro Pike. Major tenants include Dollar Tree, Hobby Lobby and Get Air Trampoline Park. Noah Juran of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A regional bank provided the loan for the undisclosed borrower.

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164-SW-Campus-Dr-Federal-Way-WA
AcquisitionsRetailWashingtonWestern

Hanley Investment Arranges $3.7M Sale of New Retail Building in Metro Seattle

by Amy Works

FEDERAL WAY, WASH. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a newly constructed retail building located at 164 SW Campus Drive in Federal Way. A Kirkland, Wash.-based buyer acquired the property from an affiliate of Henderson, Nev.-based Covenant Real Estate Group for $3.7 million. Situated on 1.2 acres, the 4,980-square-foot freestanding building is located at the signalized entrance to the WinCo Foods-anchored shopping center. The two-tenant building is occupied by a 2,104-square-foot Starbucks Coffee and a 2,876-square-foot Pacific Dental Services-supported dental office. Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller, while Scott Clements of Seattle-based Orion Commercial Partners represented the buyer in the deal.

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