Retail

DSW Commercial Real Estate Acquires 190,022 SF Campbell Plaza Retail Center in Tucson for $33M

by Amy Works October 22, 2018

TUCSON, ARIZ. — DSW Commercial Real Estate, along with Iridius Capital and JCR Capital, has purchased Campbell Plaza, a shopping center located along Campbell Avenue in Tucson. The Krausz Cos. sold the property for $33 million. Albertson’s and Ross Dress for Less are tenants at the 190,022-square-foot, core-plus asset. Mark Lucescu of Lucescu Realty represented the seller, while James Hardman of DSW Commercial Real Estate represented the buyer. Tim Storey of Newmark Realty Capital secured equity and debt financing for the acquisition.

October 22, 2018

Acquisitions Colorado Restaurant Retail Western

Charles Dunn Co. Arranges $3.2M Sale of Restaurant Property in Metro Denver

by Amy Works October 22, 2018

PARKER, COLO. — Charles Dunn Co. has negotiated the sale of a single-tenant restaurant property located at 11179 Pikes Peak Drive in Parker, a suburb 25 miles southeast of Denver. A California-based private investment group sold the property for $3.2 million in a 1031 exchange. Jack in the Box occupies the 2,920-square-foot property and has 12 years remaining on its lease. The buyer plans to hold the asset as a long-term investment with minimal landlord responsibilities. Justin Mendelson and Joshua Berger with Charles Dunn Co.’s restaurant property group, in collaboration with JDS Real Estate, represented both the seller and the undisclosed buyer.

October 22, 2018

Development Hospitality Mixed-Use North Carolina Office Restaurant Retail Southeast

Spectrum, Invesco to Develop Five-Acre Mixed-Use Project in Charlotte

by Amy Works October 22, 2018

CHARLOTTE, N.C. — The Spectrum Cos., in partnership with Invesco Real Estate, is developing a mixed-use project located on a five-acre tract linking Charlotte’s South End with its Uptown business district. Located on South Tryon Street at Carson Boulevard, the project will include two nine-story, 220,000-square-foot office buildings, an urban plaza with event space, 40,000 square feet of street-level restaurant and retail space and a 200-room boutique hotel atop a parking deck. The office component includes a flared design that offers private terraces on each floor overlooking the urban plaza, street-level retail and Uptown city lights. Located on top of a parking deck, the lifestyle hotel will include a rooftop bar. The project is the first venture between Spectrum and Invesco.

October 22, 2018

Leasing Activity Michigan Midwest Retail

Metro Commercial Negotiates Two New Locations for EDGE Fitness in Metro Detroit

by Kristin Harlow October 22, 2018

DETROIT — Metro Commercial Real Estate has negotiated two new locations for The EDGE Fitness Club in metro Detroit. The fitness club will occupy 37,000 square feet in Farmington Hills in a space formerly occupied by Kohl’s. The opening is scheduled for the fourth quarter of 2019. In Sterling Heights, EDGE will occupy 36,676 square feet in a space formerly occupied by Kroger. The opening is also slated for the fourth quarter of 2019. Brandon Anapol of Metro led the leasing team. EDGE facilities are accessible at all hours. Fitness classes, training, nutrition and weight loss support are available.

October 22, 2018

Acquisitions Massachusetts Northeast Retail

NKF Arranges $10.7M Sale of Retail Center in Cambridge

by David Cohen October 19, 2018

CAMBRIDGE, MASS. — Newmark Knight Frank has arranged the $10.7 million sale of a 12,128-square-foot retail strip center in Cambridge. Located at 351-359 Fresh Pond Parkway, the property is fully leased to a tenant roster that includes Bank of America, AT&T, Sherwin Williams, Sleep Number and The Vitamin Shoppe. The retail center was built in 2013. NKF represented the seller, a joint venture between Spellman Ventures and Sydney Associates, in the transaction. The buyer was an affiliate of The Grossman Companies.

October 19, 2018

Acquisitions Development North Carolina Retail Southeast

Willard Retail Buys Land for 150,000 SF Town Center Project in Raleigh’s Research Triangle Park

by Amy Works October 19, 2018

RALEIGH, N.C. — Chevy Chase, Md.-based Willard Retail has signed an agreement with the Research Triangle Foundation to acquire a 12-acre parcel located in Research Triangle Park. The site is at the convergence of Interstate 40, Highway 54 and Davis Drive in Raleigh. Willard Retail plans to develop a 150,000-square-foot town center to serve as the shopping and dining core of Park Center — a large mixed-use development project included more than 1,000 residential units, a hotel, conference center and more than 1 million square feet of office space. Expected to open in late 2020, the new retail component is slated to include a grocery store, health club and a mix of restaurants and small shops. Additionally, the development will feature outdoor public spaces for programmed events such as yoga classes, movie nights and live music. Willard Retail has engaged CBRE|Raleigh to lead the project’s leasing activities.

October 19, 2018

Acquisitions California Retail Western

Lucescu Realty Arranges Sale of 326,608 SF Clovis Commons Shopping Center in California for $45M

by Amy Works October 19, 2018

CLOVIS, CALIF. — Lucescu Realty has brokered the sale of Clovis Commons Shopping Center in Clovis. Brixmor Property Group sold the retail center to an affiliate of a Southern California-based privately held investment and management company for $45 million. Target, Best Buy, T.J. Maxx, PetSmart, Office Depot and Dollar Tree anchor the 326,608-square-foot community shopping center. The five anchor tenants, included in the sale, together occupy approximately 64 percent of the gross leasable area in the center. Additional tenants include Round Table Pizza, Farmer Boys, Massage Envy, Sequoia Sandwich Co., El Pollo Loco, Chronic Taco, Verizon Wireless, Starbucks Coffee, Subway, GameStop, Kumon, Menchie’s, Cost Cutters and GNC. Mark Lucescu of Lucescu Realty represented the seller in the transaction.

October 19, 2018

Acquisitions Oregon Retail Western

Redmond Development Ventures Sells Retail Property in Oregon for $1.5M

by Amy Works October 18, 2018

REDMOND, ORE. — Redmond Development Ventures has completed the $1.5 million sale of a retail building in Redmond. Located at 3113 S. Highway 97, the property features 11,076 square feet of retail space. Robert Raimondi and Russell Huntamer of Compass Commercial Real Estate Services represented the seller in the deal. The name of the buyer was not released.

October 18, 2018

Arkansas Georgia Industrial Loans Mixed-Use Office Retail Southeast

North Avenue Capital Closes Two Loans Totaling $16.8M for Properties in Georgia, Arkansas

by Amy Works October 18, 2018

WAYCROSS, GA. AND PARAGOULD, ARK. — North Avenue Capital has closed two acquisition loans totaling $16.8 million for properties in Georgia and Arkansas. USDA Rural Development Business & Industry funded the loans on behalf of the undisclosed borrowers. In Waycross, North Avenue arranged $7.3 million in financing for the acquisition of a 51,548-square-foot mixed-use center. Enhanced Resource Corp., a business management operation, anchors the property. Other tenants include Surchero’s Fresh Grill, AppleCare, Bone & Joint Institute and Southeastern Credit Union. In Paragould, North Avenue arranged a $9.3 million acquisition loan for a 579,015-square-foot, single-tenant industrial facility. Arkansas-based LA Darling occupies the property, which it has leased for more than 50 years. LA Darling, a Berkshire Hathaway subsidiary, is a retail merchandising solutions firm that builds out physical displays and fixtures for chains such as Walmart and Best Buy.

October 18, 2018

Acquisitions Maine Northeast Retail

Marcus & Millichap Negotiates $6.4M Sale of Retail Center in Maine

by David Cohen October 17, 2018

STANDISH, MAINE — Marcus & Millichap has negotiated the $6.4 million sale of Colonial Marketplace, a retail center in Standish. Located at 111 Ossipee Trail, the property is approximately 17 miles west of Portland. Preet Sabharwal, Zachary Weiss and Richard Dorfman of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was undisclosed. Hannaford Supermarket has anchored the retail center for more than 25 years.

October 17, 2018

Newer Posts

Older Posts