Retail

HFF Brokers $14.4M Sale of Shopping Center in Metro Nashville

by Camren Skelton September 10, 2018

BRENTWOOD, TENN. — HFF has brokered the $14.4 million sale of Mallory Corners, a 70,000-square-foot shopping center in Brentwood, located roughly 10 miles south of Nashville. Jim Hamilton and Shea Petrick of HFF arranged the transaction on behalf of the seller, the estate of Charles S. Ackerman. Leo Weiner of Ackerman Retail, a division of Ackerman & Co., is acting as an advisor to the estate. Barnes & Noble and Electronic Express anchor Mallory Corners, which was 96 percent leased at the time of sale. Additional tenants include Brilliant Sky Toys & Books, Sprint, Hoover Paint, AAA Autoclub and Play It Again Sports.

September 10, 2018

Acquisitions Midwest Ohio Retail Top Stories

EG Group to Acquire 225 Minit Mart Stores, Additional Assets for $305M

by Taylor Williams September 10, 2018

WESTLAKE, OHIO — British gas station and convenience store operator EG Group has agreed to acquire a portfolio of real estate assets, including 225 Minit Mart-branded stores, for $305 million. The seller was Westlake, Ohio-based TravelCenters of America, which operates several convenience store and gas station chains across the country, including Petro, TA and Quaker Steak & Lube. The transaction follows EG Group’s acquisition of a 762-site portfolio of convenience stores across the country earlier this year. Kroger sold those properties, which include stores under the Tom Thumb, Loaf ‘N Jug and Kwik Shop banners. “We have a firm commitment to growing our presence in the USA, the world’s largest convenience market,” says Mohsin Issa, founder and CEO of EG Group. “The Minit Mart portfolio will be a strong addition to our business.” Upon closing of the deal, EG Group will own and operate approximately 1,000 convenience retail stores and gas stations across the country. A timeline for closing was not released. Legal advisors to EG Group are Eversheds Sutherland LLP for acquisition issues and Kirkland & Ellis LLP for banking and finance issues. Barclays Bank acted as M&A advisor to EG Group and also underwrote debt financing for the deal. — Taylor Williams

September 10, 2018

Acquisitions New Jersey Northeast Retail

NAI James Hanson Negotiates Sale of 3,950 SF Retail Building in New Jersey

by David Cohen September 7, 2018

FLORHAM PARK, N.J. — NAI James Hanson has negotiated the sale of a 3,950-square-foot retail building in Florham Park. The freestanding structure, a former Chase Bank branch, is located at 77 Hanover Road. Joan Cenicola and John Schilp of NAI James Hanson represented the seller, DFK Associates, in the transaction. The buyer is a Florham Park-based Jiu Jitsu and Karate school, which plans to relocate from the rental space it currently occupies nearby.

September 7, 2018

Acquisitions Midwest Minnesota Ohio Retail

Four Springs Capital Trust Acquires Two Automotive Service Properties in Minnesota, Ohio

by Kristin Harlow September 7, 2018

BLOOMINGTON, MINN. AND MILFORD, OHIO — Four Springs Capital Trust (FSCT) has acquired two automotive service centers for an undisclosed price. One of the properties is a collision repair center leased to ABRA Auto Body & Glass in Bloomington, Minn. The other is a tire and service center occupied by AAA in Milford, Ohio. Sellers of the properties were not disclosed. New Jersey-based FSCT is an internally managed, private real estate investment trust focused on acquiring a portfolio of net leased retail, industrial and healthcare properties.

September 7, 2018

Acquisitions Midwest Missouri Restaurant Retail

Pinnacle Arranges $1.8M Sale of Qdoba-Occupied Property in Suburban St. Louis

by Kristin Harlow September 7, 2018

CLAYTON, MO. — Pinnacle Real Estate Advisors LLC has arranged the sale of a 3,600-square-foot property occupied by Qdoba, a fast-casual Mexican restaurant, in Clayton for $1.8 million. The single-tenant building is located at 6701 Clayton Road across the street from a Schnuck’s grocery store. Qdoba has operated at the location since 2016. Zach Wright, Rob Edwards and Tom Ethington of Pinnacle represented the buyer, a Texas-based investor. A local real estate company was the seller.

September 7, 2018

Loans Retail Texas

HFF Arranges $105M Loan for Refinancing of Retail Power Center in Tyler, Texas

by Taylor Williams September 7, 2018

TYLER, TEXAS — HFF has arranged a $105 million loan for the refinancing of The Village at Cumberland Park, a nearly 650,000-square-foot retail power center in Tyler, about 100 miles east of Dallas. The property, construction of which began in 2014, comprises 14 buildings leased to tenants such as Nike, Bed Bath & Beyond, Burlington and Old Navy. Jim Curtin of HFF, along with Joseph Monteleone of Q10 | Triad Capital Advisors, secured the 36-month, floating-rate loan through Bank of America on behalf of the borrower, The Retail Connection.

September 7, 2018

Leasing Activity Retail Texas

Hobby Lobby to Open 50,000 SF Store in Uvalde, Texas

by Taylor Williams September 7, 2018

UVALDE, TEXAS — Hobby Lobby will open a 50,000-square-foot store at Uvalde Plaza Shopping Center in Uvalde, a city with a population of about 17,000 located roughly 80 miles west of San Antonio. Other tenants at the center include Hibbett Sports, Spectrum Communications and Rent-A-Center. Paul Burkhart and Ron White of Concordia Equity represented Hobby Lobby in the lease negotiations. Rob Holliday of Holliday Interests represented the landlord.

September 7, 2018

California Development Mixed-Use Multifamily Office Retail Western

San Francisco Giants Selects Partner for 28-Acre Waterfront Mixed-Use Development

by Amy Works September 7, 2018

SAN FRANCISCO — The San Francisco Giants has selected Tishman Speyer as its joint venture partner to develop Mission Rock, a waterfront mixed-use neighborhood near AT&T Park in San Francisco. The development is a public-private partnership with the Port of San Francisco and the City and County of San Francisco. Serving as the centerpiece of the emerging Central Waterfront neighborhood, Mission Rock will span 28 acres and feature approximately 1,400 residential rental units, with 40 percent affordable to low- and moderate-income families; eight acres of parks and open space, including a waterfront park; up to 1.4 million square feet of office space; 250,000 square feet of retail and local manufacturing space; a parking structure to serve ballpark and neighborhood needs; rehabilitation of the historic Pier 48; and public waterfront access and improvements, including a segment of the Blue Greenway trail connection from Embarcadero to Hunters Point.

September 7, 2018

Development Georgia Retail Southeast

Sembler, Berkley Development Break Ground on 166,465 SF Retail Project in Macon, Georgia

by Camren Skelton September 7, 2018

MACON, GA. — A joint venture between The Sembler Co. and Berkley Development has broken ground on North Macon Plaza, a 166,465-square-foot retail project located in Macon, located roughly 83 miles south of Atlanta. The center will be home to Marshalls/HomeGoods, Michaels, Beall’s Outlet, Old Navy, Five Below, Famous Footwear and Lifeway Christian. North Macon Plaza will be situated adjacent to a 600,000-square-foot Bass Pro Shops retail facility and distribution center, as well as the Shoppes at River Crossing, a 750,000-square-foot shopping center. The new center is scheduled to open in fall 2019. A second phase of the project could accommodate up to 50,000 square feet, according to the developers.

September 7, 2018

Development Retail Southeast Virginia

New Realm Brewing Opens New Location in Virginia Beach

by Camren Skelton September 7, 2018

VIRGINIA BEACH, VA. — Atlanta-based New Realm Brewing Co. has opened a new brewery in Virginia Beach. Co-founded by Carey Falcone, Bob Powers and Mitch Steele, the new location features a tasting room offering more than 15 different types of beer on tap; a 44,000-square-foot outdoor beer garden with fire pits, adult game areas and a patio bar; and private event space. The facility can produce up to 40,000 barrels annually and is built to scale to even larger capacities in the future. The brewery is located four miles from the oceanfront, in the space that was formerly home to Green Flash Brewing Co. Local food trucks will be onsite at New Realm daily, and bands are scheduled every Friday through Sunday. A full-service restaurant is scheduled to open at the brewery in early 2019. The Virginia Beach location is the second facility for New Realm, which opened its first brewery along the Atlanta BeltLine near Ponce City Market this past year.

September 7, 2018

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