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2nd-Clayton-Denver-CO
ColoradoLoansMixed-UseOfficeRetailWestern

HFF Arranges $10.2M Refinancing for 18,460 SF Mixed-Use Property in Denver

by Amy Works

DENVER — HFF has secured $10.2 million in refinancing for 2nd and Clayton, a mixed-use office and retail property located in Denver’s Cherry Creek neighborhood. Unico Properties, a subsidiary of Unico Investment Group, is the borrower and used the proceeds to pay off an existing loan. Originally constructed in 1954, the asset comprises three buildings totaling 18,460 square feet of retail and office space. The properties are located at 2641, 2645, 2659 East 2nd Ave. and 211 and 227 Clayton St. Tom Wilson and Leon McBroom of HFF arranged the six-year, fixed-rate loan with a portfolio lender for the borrower.

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DevelopmentIllinoisMidwestRetail

Centennial Unveils Green Space Vision for Two Malls in Illinois

by Kristin Harlow

VERNON HILLS AND AURORA, ILL. — Centennial has unveiled new green space concepts at two malls in Illinois — Hawthorn Mall in Vernon Hills and Fox Valley Mall in Aurora. Centennial will transform the malls’ center courts into a multi-use environment in efforts to enhance consumer experience. Centennial will invest $12 million in the courtyards, which total 31,115 square feet. The new courtyards will be surrounded by dining and entertainment options. The design team includes architect Stantec and general contractor Graycor Construction Co. A timeline for construction was not released.

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Beechcrest-Shopping-Center-Houston
AcquisitionsRetailTexas

HFF Negotiates Sale of 89,679 SF Shopping Center in Southwest Houston

by Taylor Williams

HOUSTON — HFF has negotiated the sale of Beechcrest Shopping Center, an 89,679-square-foot, grocery-anchored shopping center in southwest Houston. The property is located near Beltway 8 at the intersection of Beechnut and Wilcrest streets, which have a combined traffic count of nearly 60,000 vehicles per day. Beechcrest Shopping Center was 100 percent leased at the time of sale to tenants such as DD’s Discounts, Dollar General, Pizza Hut and Lone Star Title. Ryan West, John Indelli, Charles Strauss and Ethan Goldberg of HFF represented the seller, South Florida-based Global Fund Investments LLC, in the transaction. Houston-based Wu Investments acquired the asset for an undisclosed price.

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AcquisitionsCaliforniaOfficeRetailWestern

Madison Partners Brokers $7.1M Sale of Retail, Office Building in Los Angeles

by Amy Works

LOS ANGELES — Madison Partners has arranged the sale of a retail and creative office building, located at 62-66 Windward Ave. in the Venice neighborhood of Los Angeles. Southern California-based Optimus Properties sold the property to BrandView Capital Partners for $7.1 million, or $957 per square foot. Originally constructed in 1922, the 7,471-square-foot asset features a street-level portico with three retail units and a creative office unit on the second level, which features a rooftop deck. Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller in the deal.

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AcquisitionsIndianaMidwestRetail

Millennial Holdings Purchases 200,000 SF Shopping Center in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Millennial Holdings, a New Jersey-based real estate group, has purchased Felbram Plaza North, a nearly 200,000-square-foot shopping center on the south side of Indianapolis. The purchase price was not disclosed. The property is approximately 75 percent leased. Millennial plans to repair the parking lot, replace the roof and install new HVAC units. Anchor tenants include Shopper’s World, Dollar Tree, Dollar General and MCL. John Riser of Riser Retail Group represented Millennial and the seller in the transaction. McCrea Property Group serves as leasing agent.

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AcquisitionsMidwestOhioRetail

Pine Tree Acquires 89,436 SF Retail Center in Suburban Cleveland

by Kristin Harlow

STREETSBORO, OHIO — Pine Tree has LLC acquired Streetsboro Crossing, an 89,436-square-foot retail center in Streetsboro near Cleveland. The purchase price was not disclosed. Giant Eagle anchors the property, which was completed in 1996 and renovated in 2001. Other tenants include Pet Supplies Plus, Palm Beach Tan, GNC, Sally Beauty Supply and Great Clips. The occupancy rate is 94 percent. Amy Sands and Clinton Mitchell of HFF marketed the property on behalf of the seller, Brixmor Property Group.

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AcquisitionsConnecticutNortheastRetail

SRS Brokers $2.6M Sale of Single-Tenant Retail Asset in Torrington, Connecticut

by Taylor Williams

TORRINGTON, CONN. — Dallas-based SRS Real Estate Partners has brokered the $2.6 million sale of a single-tenant retail property that is net leased to AFC Urgent Care in Torrington, Connecticut, located west of Hartford. The tenant’s lease term is 15 years. Britt Raymond and Kyle Fant of SRS represented the Connecticut-based seller, which completed construction of the property earlier this year. Terri Frohnmayer of First Commercial Oregon represented the Oregon-based buyer, which acquired the asset via a 1031 exchange.

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AcquisitionsNet LeaseRestaurantRetailUtahWestern

FCPT Acquires Three Restaurant Properties in Utah for $4.9M

by Amy Works

LOGAN, UTAH — Four Corners Property Trust (FCPT) has purchased three restaurant outparcel properties located adjacent to a mall in Logan. The aggregate acquisition price was $4.9 million. The name of the seller was not released. The properties are a Texas Roadhouse, Olive Garden and Arby’s, and each property is leased to corporate operators under triple-net leases with approximately seven years of weighted average term remaining.

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AcquisitionsColoradoRetailWestern

Newmark Knight Frank Brokers $1.3M Sale of Retail Property Near Denver

by Amy Works

LAKEWOOD, COLO. — Newmark Knight Frank Colorado has arranged the sale of a retail property located at 1460 S. Wadsworth Blvd. in Lakewood. Wild Diversified LLC acquired the property from John Schmalz for $1.3 million. The property features 9,600 square feet of retail space. Steven Fletcher of Newmark Knight Frank Colorado represented the seller. Land Title Guarantee Co. and Colliers Bennett & Kahnweiler also participated in the transaction.

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Rubidoux-Plaza-Indio-CA
AcquisitionsCaliforniaRetailWestern

Faris Lee Investments Arranges $4.6M Sale of Two Retail Centers in Indio, California

by Amy Works

INDIO, CALIF. — Faris Lee Investments has arranged the sale of two retail strip centers — Rubidoux Plaza and South Rubidoux — in Indio. The assets sold for a combined total of $4.6 million. Totaling nearly 20,000 square feet, the retail centers are located along Highway 111 and serve the entire Coachella Valley area. Tom Chichester of Faris Lee Investments represented the seller in the transactions. The names of the seller and buyers were not released.

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