Retail

Charles Dunn Co. Arranges $2.8M Sale of Land Parcel for Multifamily Development in Los Angeles

by Amy Works September 5, 2018

LOS ANGELES — Charles Dunn Co. has arranged the sale of a development site located at 729 S. Park View St. in Los Angeles. Salem Missionary Baptist Church sold the asset to Safeco LLC for $2.8 million. The 18,000-square-foot site features a 4,100-square-foot building, which the seller formerly occupied. The buyer, which owns an adjacent parcel, plans to develop 150 residential units and potentially ground-floor retail at the site. Chris Giordano, Chris Steck and John Anthony of Charles Dunn Co. represented the seller and buyer in the deal.

September 5, 2018

Acquisitions Illinois Midwest Retail

Quantum Arranges $1.5M Sale of Retail Building Occupied by Sherwin Williams in Lake Bluff, Illinois

by Kristin Harlow September 4, 2018

LAKE BLUFF, ILL. — Quantum Real Estate Advisors Inc. has arranged the $1.5 million sale of a single-tenant retail building occupied by Sherwin Williams in Lake bluff, about 35 miles north of Chicago. The 3,799-square-foot building is located at 545 Rockland Road. Sherwin Williams has a 10-year lease at the property. A private real estate investor based in suburban Chicago purchased the asset. Chad Firsel of Quantum represented the seller, a Chicago-based acquisition and development company.

September 4, 2018

Acquisitions California Retail Western

El Tigre Holdings Acquires Woodland Crossroads Shopping Center in Sacramento Valley for $18M

by Amy Works September 4, 2018

WOODLAND, CALIF. — Affiliates of El Tigre Holdings has purchased Woodland Crossroads, a shopping center located in Woodland within the Sacramento Valley. Woodland Crossroads TIC – Engstrom Properties sold the asset for $18 million. Originally developed in 1985 with K-Mart as its anchor, the property was substantially redeveloped in 2016 with Grocery Outlet as its new anchor. Current tenants include Ross Dress for Less, Party City, Harbor Freight and Tractor Supply. Dan Wald and Don LeBuhn of Cushman & Wakefield’s The Wald | LeBuhn Team represented the seller, while the Yorba Linda, Calif., office of Keller Williams represented the buyer in the deal.

September 4, 2018

Acquisitions California Retail Western

Benderson Development Buys Vacant Retail Property in Bay Area for $15.6M

by Amy Works September 4, 2018

EMERYVILLE, CALIF. — Benderson Development has acquired a retail property located at 3938 Horton St. in Emeryville, a city between Berkeley and Oakland, Calif., for $15.6 million. Toys ‘R’ Us and Babies ‘R’ Us formerly occupied the now-vacant property. The asset is part of the East Bay Bridge Shopping Center, situated at the convergence of interstates 880, 580 and 80/San Francisco – Oakland Bay Bridge.

September 4, 2018

Leasing Activity Retail Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges Leases with Trampoline Park, Panera Bread at Richmond Mall

by Camren Skelton September 4, 2018

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has arranged leases with two tenants at Regency Mall in Richmond as part of the property’s ongoing redevelopment. Surge Trampoline, a Louisiana-based trampoline park concept, will open a 40,000-square-foot location on the top floors of the former Macy’s. The venue will be located along the newly redesigned and signalized Quioccasin Road entrance, and will be close to other recently announced tenants including Starbucks Coffee, Chipotle Mexican Grill and MOD Pizza. Connie Jordan Nielsen, Nicki Jassy and Pam Strieffler of Cushman & Wakefield | Thalhimer arranged the lease on behalf of the landlord. In addition, Panera Bread signed a lease for 4,500 square feet at one of the property’s outparcels. Nielsen represented both Panera and the landlord in the lease negotiations, and Jassy and Strieffler represented the landlord. The name of the owner was not disclosed, but according to the Richmond Times-Dispatch, The Rebkee Co. and Thalhimer Realty Partners acquired Regency Mall in 2015. The local outlet reports that construction on Surge Trampoline is expected to begin in the fall, and the Panera Bread is scheduled to open in late spring or early summer 2019.

September 4, 2018

Acquisitions Michigan Midwest Retail Top Stories

Vision Growth Partners to Acquire 65 Salons in Michigan, Becoming Largest Supercuts Franchisee in Midwest

by Camren Skelton September 4, 2018

BLOOMFIELD HILLS, MICH. — Vision Growth Partners has entered into an agreement to acquire 65 salons in Michigan from Regis Corp. (NYSE: RGS). The store acquisitions will take place in small groups and will be completed by spring 2019. Financial terms of the transaction were not disclosed. The stores are currently branded as BoRics, Hair Masters and Fiesta Salons, but will transition into Supercuts franchises upon acquisition. The agreement also includes 13 existing Supercuts corporate stores. Super C Group LLC, an entity managed by Vision Growth Partners, will operate the salons. In addition to the acquisitions, Super C Group plans to open 10 new Supercuts locations in Michigan over the next several years, making the entity the largest Supercuts franchisee in the Midwest. “We are very excited to enter the salon space in a significant way in our home state of Michigan,” said Michael Sarafa, managing partner of Vision Growth and Super C Group. “Regis is a great partner with great employees, and we look forward to growing the Supercuts brand and building a culture of teamwork and success.” Over the next 10 months, Super C Group will renovate the acquired properties. The investment level will vary by location, but Crain’s …

September 4, 2018

Conference Coverage Features Georgia Industrial Retail Southeast Southeast Feature Archive

Retailers Ramp Up Industrial Presence to Service Their Stores, Customers, Say InterFace Panelists

by Camren Skelton September 4, 2018

ATLANTA — While the development pipeline for industrial real estate is at peak capacity, retail’s new store inventory is taking a back seat. Paul Xhajanka, division real estate manager of Kroger, said that his company is breaking from the past when it would open hundreds of stores a year. “If you look at our store count for the next three to five years, we’re only going to open 20 to 25 stores across our various platforms,” said Xhajanka, referring to Kroger’s portfolio of grocery brands, which include Mariano’s, Harris Teeter and Ralphs. “Target is opening 10 to 20 smaller stores a year, and even Walmart is down to 10 stores a year. All of us are shrinking our inventory of new stores down. Retailers are building more distribution centers, not stores.” Xhajanka’s comments were made during the “Industrial Brokers and Expanding Retailers” panel at the first annual Intersection of Industrial and Retail in the Southeast conference, held Thursday, Aug. 23 at the Westin Buckhead in Atlanta. Sponsored by InterFace Conference Group and Southeast Real Estate Business, the half-day event drew more than 170 industrial and retail real estate professionals across the Southeast. Retailers, along with global companies like Amazon and Wayfair, are the …

September 4, 2018

Acquisitions Retail Texas

NAI Partners Acquires 40,300 SF Retail Center in Metro Houston

by Taylor Williams August 31, 2018

KATY, TEXAS — NAI Partners, through its Investment Fund II vehicle, has acquired Royal Montreal Plaza, a 40,300-square-foot retail center in Katy, a western suburb of Houston. The property was 97 percent leased at the time of sale to a mix of regional and local tenants. Andrew Pappas and Adam Hawkins of NAI Partners negotiated the acquisition. Todd Carlson of Hunington Properties represented the undisclosed seller. Green Bank provided debt for the transaction.

August 31, 2018

Acquisitions Florida Retail Southeast

Cushman & Wakefield Arranges $27M Sale of Shopping Center in Tampa

by Camren Skelton August 31, 2018

TAMPA, FLA. — Cushman & Wakefield has arranged the $27 million sale of Tampa Bay Center, a 142,350-square-foot shopping center in Tampa. Jason Donald, Patrick Berman and Todd Tolbert of Cushman & Wakefield arranged the transaction on behalf of the seller, Five RE Tampa Bay Center LLC. Equity Management Partners LLC acquired the property. The previous ownership invested $5 million to renovate the center, which was formerly anchored by Kmart. Tampa Bay Center was 97 percent leased at the time of sale to tenants such as Ashley HomeStore, Floor & Décor, The Tile Shop, Dollar Tree, Metro PCS and a freestanding WingHouse restaurant.

August 31, 2018

Acquisitions Retail Southeast Tennessee

The Shopping Center Group Brokers Sale of 89,021 SF Retail Center in Knoxville

by Camren Skelton August 31, 2018

KNOXVILLE, TENN. — The Shopping Center Group (TSCG) has arranged the sale of South Grove, an 89,021-square-foot retail center located near the entrance to Smokey Mountain National Park in Knoxville. Broad Reach Retail Acquisition Co. LLC acquired the asset. Other terms of the deal were not disclosed. A 44,029-square-foot Food City anchors the center, which is also home to Pet Supplies Plus, Great Clips and Gondolier. Lowe’s Home Improvement shadow-anchors the center. South Grove includes a vacant 15,150-square-foot space formerly occupied by Goody’s, offering a value-add opportunity for the new ownership, as well as a two-tenant outparcel building totaling 5,900 square feet. Broad Reach Retail also acquired three undeveloped parcels totaling seven acres adjacent to the property for future expansion.

August 31, 2018

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