Retail

Fielder-Plaza-Arlington-TexasFielder-Plaza-Arlington-Texas

Weitzman to Redevelop 157,575 SF Retail Center in Arlington

by Taylor Williams February 26, 2019

ARLINGTON, TEXAS — Weitzman’s management division will soon begin the redevelopment of Fielder Plaza, a 157,575-square-foot retail center in Arlington. The project will include a remodeling of the interior of the 52,000-square-foot anchor space occupied by grocer Tom Thumb, as well as a complete remodeling of the property’s exterior elements. The center, which is home to other tenants such as CVS, Starbucks, Pet Supermarket, Mathnasium, Edible Arrangements and Batteries Plus, opened in 1978. The architect for the remodel is Hodges & Associates.

February 26, 2019

Acquisitions California Multifamily Retail Western

Levin Johnston Brokers Two Property Sales in the California’s East Bay Totaling $23.4M

by Amy Works February 26, 2019

HAYWARD AND SAN LEANDRO, CALIF. — Levin Johnston of Marcus & Millichap has directed two property sales, totaling $23.4 million, in the East Bay area of San Francisco. In the first deal, Levin Johnston, Adam Levin and Eymon Binesh of Marcus & Millichap brokered the acquisition of Stratford Village Center, located at 1641-1645 Industrial Parkway West in Hayward. A private buyer acquired the property for $12.9 million. Originally constructed in 2003 and 2004, Stratford Village Center features 40,852 square feet of retail space. At the time of sale, the property was 100 percent occupied by a variety of tenants, including Starbucks Coffee, Subway, Fremont Bank, Straw Hat Pizza, DaVita Inc., Select Staffing, CosmoProf and Manheim Inc. In the second transaction, Levin and Johnston represented the buyer and seller, both local apartment owners, in a $10.5 million multifamily transaction. Located at 15977 Maubert Ave. in San Leandro, The Maubert Apartments is a garden-style apartment community comprising four buildings offering a total of 34 apartments in a mix of two-bedroom/two-bath and one-bedroom/one-bath flats. On-site amenities include a gated and secured entryway, private balconies, assigned covered parking and on-site laundry.

February 26, 2019

Acquisitions Midwest Retail Wisconsin

Lamar Cos. Acquires 216,785 SF Shopping Center in Madison, Wisconsin

by Kristin Harlow February 26, 2019

MADISON, WIS. — Lamar Cos., in conjunction with Real Capital Solutions, has acquired East Town Plaza in Madison for an undisclosed price. The 216,785-square-foot shopping center is 83 percent leased. Tenants include Burlington, Marshalls, Ross Dress for Less, Jo-Ann Fabrics, DSW, Ulta and Party City. The property, built in 1999, is positioned along East Washington Avenue. The seller was not disclosed.

February 26, 2019

Development Maryland Retail Southeast

Consolidated-Tomoka Land Sells Whole Foods-Anchored Shopping Center in Southwest Florida for $24.6M

by Alex Tostado February 25, 2019

SARASOTA, FLA. — Consolidated-Tomoka Land Co. has sold The Shoppes at Sarasota Row, a 59,341-square-foot retail center in Sarasota, to New York Real Estate Investors for $24.6 million. Whole Foods Market and Starbucks Coffee anchor the property, which is situated less than a mile from downtown Sarasota. Other tenants include California Closets, Scout & Molly’s Boutique, Tsunami Sushi and Hibachi Grill, Nuovo Salon and Paint Nail Bar. Carson Good, Tarik Bateh and Dan Williams of JLL represented the seller in the transaction.

February 25, 2019

Acquisitions Maryland Retail Southeast

KLNB Negotiates $13M Sale of Grocery-Anchored Shopping Center in Easton, Maryland

by Alex Tostado February 25, 2019

EASTON, MD. — KLNB Retail Investment Sales Group has arranged the $13 million sale of Easton Marketplace, a 126,650-square-foot grocery-anchored shopping center in Easton. The asset is anchored by Weis supermarket and sits on 18.4 acres. Other tenants include McDonald’s, Ruby Tuesday, Pier 1 Imports, Hair O’ The Dog liquor store and Snifter’s Tasting Room. Andy Stape and Vito Lupo of KLNB represented the sellers, Mears Properties LLC and Easton Marketplace LLC, in the transaction. Rise Partners acquired the property and hired KLNB Management as property manager.

February 25, 2019

Acquisitions Retail Texas

Venture Commercial Arranges Sale of 97,761 SF Retail Asset in Metro Houston

by Taylor Williams February 25, 2019

KATY, TEXAS — Dallas-based Venture Commercial has arranged the sale of a 97,761-square-foot retail asset located within the Cinco Ranch at Market Center development in the western Houston metro of Katy. John Zikos, Jonathan Cooper, Don Miller and Lawrence Wilson of Venture Commercial represented the buyer in the transaction. The seller was not disclosed.

February 25, 2019

Acquisitions Retail Texas

SHOP Cos. Brokers Sale of 27,638 SF Retail Center in Frisco

by Taylor Williams February 25, 2019

FRISCO, TEXAS — SHOP Cos. has brokered the sale of Preston Stonebriar Shopping Center, a 27,638-square-foot retail center located along Preston Road in the northern Dallas suburb of Frisco. The newly built property is situated on 3.6 acres and was 100 percent leased at the time of sale to tenants such as Burning Rice, Finley’s Barbershop and Cosmo Nails & Spa. Tommy Tucker, Tim Axilrod and Cameron Burk of SHOP Cos. represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

February 25, 2019

Acquisitions California Restaurant Retail Western

SRS Brokers $3M Sale of Del Taco-Occupied Restaurant in Chatsworth, California

by Amy Works February 25, 2019

CHATSWORTH, CALIF. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of a single-tenant restaurant asset, located at 21920 Lassen St. in Chatsworth. A private investor acquired the property for $3 million, or $1,540 per square foot. Del Taco occupies the approximately 1,961-square-foot property, which features a 24-hour drive-thru, on a long-term absolute triple-net, corporate-guaranteed lease with more than 12 years remaining. Built in 1989, the property is situated on 0.4 acres. Matthew Mousavi and Patrick Luther of SRS, in cooperation with Brandon Trevellyan of Capital Real Estate Ventures, represented the seller, a privately held partnership, while Warren Berzack of Lee & Associates represented the buyer in the deal.

February 25, 2019

Acquisitions Midwest Minnesota Retail

Hanley Investment Group Brokers $8.2M Sale of Two-Tenant Retail Building in Edina, Minnesota

by Kristin Harlow February 25, 2019

EDINA, MINN. — Hanley Investment Group Real Estate Advisors has brokered the sale of a two-tenant retail building in Edina for $8.2 million. The newly constructed, 6,702-square-foot property is located at 3901 W. 70th St. E*Trade and Roti Modern Mediterranean restaurant occupy the building. Jeff Lefko and Bill Asher of Hanley represented the seller, OneCorp Real Estate. Jim Seabold of Coldwell Banker Burnet represented the buyer, a Denver-based private investor. The sales price represented a 6 percent cap rate.

February 25, 2019

Finance Insight Healthcare Hospitality Industrial Loans Midwest Multifamily Northeast Office Retail Southeast Texas Video Western

TD Bank: Construction Delays have Bolstered the Multifamily Market

by Jaime Lackey February 23, 2019

It may sound counterintuitive, but Gregg Gerken, head of U.S. commercial real estate at TD Bank, believes some of the challenges the multifamily development market has faced have actually benefited the market. He specifically references labor shortages and construction delays. There were concerns in some areas that too much product might come online too fast, hampering absorption and rent growth. But the recent speedbumps have allowed the pipeline to even out a bit, staggering the delivery of new units and preventing overbuilding. Demand still outpaces supply in many markets, which has led to average vacancy rates of around 5 percent and healthy rent growth. Both developers and renters can look forward to new product delivering at a steady pace in 2019. Watch the video to hear takeaways from MBA CREF and 2019 predictions from Gerken.

February 23, 2019

Newer Posts

Older Posts