Retail

Hanley Investment Arranges $2.6M Sale of Single-Tenant Restaurant Building in Barstow, California

by Amy Works March 13, 2019

BARSTOW, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly delivered retail asset, located at 2804 Lenwood Road in Barstow. An Orange County, Calif.-based partnership sold the property to a Los Angeles-based private investor for $2.6 million, or $1,000 per square foot. The newly constructed 2,600-square-foot building features a drive-thru. A combination Dunkin’ and Baskin-Robbins occupies the single-tenant property. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Paul Bahk and James Chin of Los Angeles-based Realtex Properties represented the buyer in the transaction.

March 13, 2019

Development Retail Texas

Weitzman Begins Renovation of 330,000 SF Retail Power Center in Grapevine, Texas

by Taylor Williams March 13, 2019

GRAPEVINE, TEXAS — Weitzman has begun the renovation of Grapevine Towne Center, a 330,000-square-foot retail power center located about 25 miles northeast of downtown Fort Worth. The property, which is anchored by Target and opened in the mid-1990s, is also home to tenants including Ross Dress for Less, Big Lots, Bealls, Office Depot and Jason’s Deli. Hodges & Associates is the architect for the project, which will add modern lifestyle elements and pedestrian-friendly features, as well as an updated façade. Completion is slated for the second half of this year.

March 13, 2019

Development Midwest Ohio Restaurant Retail

True Food Kitchen to Open First Location in Ohio at Easton Town Center

by Kristin Harlow March 13, 2019

COLUMBUS, OHIO — True Food Kitchen is opening its first location in Ohio at Easton Town Center. Set to open in 2020, the 6,000-square-foot restaurant will feature both indoor and outdoor dining space as well as a bar. True Food Kitchen offers vegetarian, vegan and gluten-free dishes and operates 26 locations in 11 states. Easton Town Center is currently undergoing a $500 million, 16-acre expansion. L Brands, The Georgetown Company and Steiner + Associates make up the development team.

March 13, 2019

Development Retail Southeast Virginia

Life Time Athletic Opens 173,000 SF Gym Near Alexandria

by Alex Tostado March 12, 2019

GAINESVILLE, VA. — Life Time Athletic has opened a 173,000-square-foot gym in Gainesville, about 40 miles west of Alexandria. The new property features a 123,000-square-foot building and a 50,000-square-foot outdoor oasis. This is Life Time’s 143rd location in North America and seventh in the northern Virginia/Maryland market. The new site is located at 13978 Promenade Commons St. and will house 270 employees.

March 12, 2019

Acquisitions Georgia Retail Southeast

HFF Arranges Sale of 105,847 SF Retail Center in Metro Atlanta

by Alex Tostado March 12, 2019

MARIETTA, GA. — HFF has arranged the sale of Olde Mill Plaza, a 105,487-square-foot retail center in Marietta, to Livingston Properties. Olde Mill Plaza is located at 3101 Roswell Road, 20 miles northwest of downtown Atlanta. The asset was 91 percent leased at the time of the sale to tenants including Walmart Neighborhood Market, Just Fitness 4U, Los Arcos Mexican restaurant, European Deli, Le Nails Spa2, K&G Tailors, Roxy Package Store and House of Ming. Outparcel tenants include McDonald’s and RaceTrac. The sales price was not disclosed.

March 12, 2019

Development Florida Retail Southeast

City Council Approves Retail Redevelopment of Historic Building in Downtown Orlando

by Alex Tostado March 12, 2019

ORLANDO, FLA. — Orlando’s City Council has approved the retail redevelopment and reposition One South Orange Building, which was built in the early 1900s. One Orange Development will lead efforts on the redesign, which will focus on 7,000 square feet of the ground floor retail space and deliver an updated canopy and glass wall system and outdoor lighting and signage. The project will also maintain the historic brick detailing from the original building’s design, as well as bringing in a Taco Bell Cantina, which will offer an open kitchen, appetizers and alcoholic beverages. JLL will handle leasing efforts.

March 12, 2019

Acquisitions Colorado Retail Western

Lone Star Partners Sells The Shops at Green Valley Ranch in Denver for $8.6M

by Amy Works March 12, 2019

DENVER — Houston-based Lone Star Partners has completed the disposition of The Shops at Green Valley Ranch, a newly constructed retail center located at 4906-4998 N. Tower Road in Denver. A California-based investment partnership acquired the property for $8.6 million. Matthew Henrichs and Brad Lyons of CBRE represented the seller, while Seshu Velpuri of The AMR Group represented the buyer in the transaction. Built in 2017, The Shops at Green Valley Ranch includes two Class A, freestanding retail buildings, totaling 19,840 square feet on 2.8 acres. The property is fully leased to a mix of 11 national and local retailers, including Burger King, Sport Clips, Pizza Hut, Jimmy John’s Gourmet Sandwiches, Cold Stone Creamery, David Nails & Spa and GVR Dental and Orthodontics.

March 12, 2019

Development Office Retail Texas

MARCEL to Develop 76,000 SF Retail, Office Project in Fulshear, Texas

by Taylor Williams March 12, 2019

FULSHEAR, TEXAS — MARCEL, a privately owned real estate firm based in The Woodlands, will develop Cross Creek Town Center, a 76,000-square-foot retail and office project in Fulshear, about 35 miles west of Houston. The development, completion of which is set for spring 2020, will include restaurant and entertainment space as part of its retail use.

March 12, 2019

Acquisitions Midwest Minnesota Retail

Upland Arranges $4.6M Sale of Retail Center in Waconia, Minnesota

by Kristin Harlow March 12, 2019

WACONIA, MINN. — Upland Real Estate Group Inc. has arranged the sale of Waconia Crossing for $4.6 million. The newly constructed retail center is situated on Highway 5, approximately 35 miles southwest of Minneapolis. The sale includes a freestanding Dollar Tree and a property occupied by Starbucks, Sport Clips, AT&T and Qdoba for a total of 16,695 square feet. Keith Sturm, Deborah Vannelli and Amanda Leathers of Upland represented the seller. The buyer completed a 1031 tax-deferred exchange.

March 12, 2019

Healthcare Leasing Activity Michigan Midwest Retail

Athletico Physical Therapy to Open in Westland, Michigan

by Kristin Harlow March 12, 2019

WESTLAND, MICH. — Athletico Physical Therapy has signed a 3,964-square-foot lease to open a location in Westland, a western suburb of Detroit. The company will open in the space formerly occupied by Anytime Fitness at Bayview Plaza. Larry Siedell, Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord. Luke Paterson of Swearingen Realty Group represented Athletico.

March 12, 2019

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