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1835-W-120th-Ave-Westminster-CO
AcquisitionsColoradoNet LeaseRestaurantRetailWestern

Pinnacle Brokers $2.1M Sale of Starbucks-Occupied Retail Property in Westminster, Colorado

by Amy Works

WESTMINSTER, COLO. — Pinnacle Real Estate Advisors has arranged the purchase of a freestanding, single-tenant retail property located at 1835 W. 120th Ave. in Westminster. Surreal Holdings acquired the asset for $2.1 million. Starbucks Coffee occupies the 2,162-square-foot property, which includes a drive-thru, on a net-lease basis. Elizabeth Morgan, Cody Stambaugh and Kyle Moyer of Pinnacle’s MorganStambaugh Group represented the buyer, while David Wirgler of Northmarq represented the undisclosed seller.

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AcquisitionsArizonaRetailWestern

LMG Investments Sells 12,900 SF BV Shoppes Retail Center in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — LMG Investments has completed the disposition of BV Shoppes, a retail center in Tucson, to JP Family Trust for $2 million. Located at 2920-2932 E. Broadway Blvd., BV Shoppes offers 12,900 square feet of retail space. Dave Hammack of Cushman & Wakefield | PICOR represented the seller, while Jeramy Price of Volk Co. represented the buyer in the transaction.

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Civic-Center-Plaza-Simi-Valley-CA
CaliforniaLoansRetailWestern

Gantry Secures $26M Bridge Loan for Retail Center in Simi Valley, California

by Amy Works

SIMI VALLEY, CALIF. — Gantry has secured a $26 million bridge loan to refinance maturing debt for Civic Center Plaza, a retail center in Simi Valley. Situated on 11.5 acres, the 145,000-square-foot asset is occupied by Regal IMAX Cinema, Starbucks Coffee, Panda Express, Carl’s Jr., two credit unions, Unleashed by Petco and a new grocer, which is slated to open in 2026. Mark Ritchie and Austin Ridge of Gantry represented the borrower, a private real estate operator. Funds managed by affiliates of Fortress Investment Group provided the three-year, nonrecourse loan, which features a variable rate and interest-only term.

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AcquisitionsRetailTexas

SRS Real Estate Arranges Sale of 22,970 SF Shopping Center in Metro Austin

by Taylor Williams

ROUND ROCK, TEXAS — SRS Real Estate Partners has arranged the sale of The Shops at Greenlawn, a 22,970-square-foot retail center located north of Austin in Round Rock. At the time of sale, The Shops at Greenlawn was 92 percent leased to nine tenants, including Next Level Urgent Care and Bay Leaf Indian Restaurant. Cathy Nabours, Kyle Shaffer and Sam Nichols of SRS represented the seller, locally based firm Mathias Partners, in the transaction. The buyer was metro Philadelphia-based CenterSquare Investment Management.

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Leasing ActivityMichiganMidwestRestaurantRetail

Okika Hawaiian BBQ Signs 1,420 SF Retail Lease in Flat Rock, Michigan

by Kristin Harlow

FLAT ROCK, MICH. — Okika Hawaiian BBQ has signed a 1,420-square-foot retail lease to open in Flat Rock, a southern suburb of Detroit. The Dunkin’-anchored property is located at the southwest corner of Telegraph and Vreeland roads. Michael Murphy of Gerdom Realty & Investment represented the landlord, Shango Properties. Norman Abro of Keystone Commercial Real Estate represented the tenant.

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CaliforniaDevelopmentLoansMixed-UseMultifamilyRetailWestern

MMCC Arranges $64M in Construction Financing for Rancho Cucamonga Mixed-Use Development

by Amy Works

RANCHO CUCAMONGA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $64 million in financing for the construction of a mixed-use development project at 8500 Haven Ave. in Rancho Cucamonga. Ron Bayls of MMCC secured the financing through Parkview Financial on behalf of a private developer. At full build-out, the 248-apartment project will feature six residential buildings, a mixed-use building, ground-floor commercial space and a retail building. Planned apartment amenities include a pool, fitness center, pickleball court, clubhouse, onsite laundry and landscaped outdoor areas.

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Leasing ActivityRetailTexas

Barnes & Noble to Open 18,000 SF Store at Alamo Ranch in San Antonio

by Taylor Williams

SAN ANTONIO — Barnes & Noble will open an approximately 18,000-square-foot store at Alamo Ranch, a 900,000-square-foot retail power center located on the west side of San Antonio. The book retailer is backfilling a space previously occupied by Office Max with one of its smaller-format stores. Charlotte-based Big V Property Group owns Alamo Ranch, which is also home to tenants such as Best Buy, Dick’s Sporting Goods, Ross Dress for Less and Marshalls. A tentative opening date was not disclosed.

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Miramar-Parkway-Plaza
AcquisitionsFloridaRetailSoutheast

Berger Commercial Brokers $34M Sale of Miramar Parkway Plaza Retail Center in South Florida

by Abby Cox

MIRAMAR, FLA. — Berger Commercial Realty has brokered the sale of Miramar Parkway Plaza, a 159,628-square-foot retail center in Miramar near Hard Rock Stadium. Lawrence Oxenberg of Berger Commercial represented the buyer, an affiliate of Longpoint Realty Partners doing business as LSG2 Miramar Parkway Plaza LLC, which purchased the property for $34 million. The seller was a partnership between The Faith Group and Jeffery Perlow. The Faith Group originally purchased the asset in 2014. Located at 3102-3300 University Drive, Presidente Supermarket anchors Miramar Parkway Plaza, which sits on roughly 14 acres. Additional tenants include McDonald’s, Foot Locker, AutoZone, Subway, Moby’s and Little Caesar’s. The center includes multiple outparcels and a second-story office component, as well as a recently constructed, 10,000-square-foot retail component.

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AcquisitionsDevelopmentKansasMidwestRestaurantRetail

Vietnam Cafe to Open Second Location in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Vietnam Cafe will open its second location at 9500 W. 135th St. in Overland Park. Bill Maas of Block & Co. Inc. Realtors represented the seller in the transaction. The Vietnamese restaurant’s first location is at 522 Campbell St. near the River Market in Kansas City. The menu features authentic pho, as well as dishes from chicken, beef, shrimp and vegetarian options. The new restaurant will occupy the 4,075-square-foot former Beef-A-Roo space. The property will undergo construction, with a proposed open date to be determined.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 39,618 SF Shopping Center in Carrollton, Texas

by Taylor Williams

CARROLLTON, TEXAS — Marcus & Millichap has brokered the sale of Keller Springs Village, a 39,618-square-foot shopping center located in the northern Dallas metro of Carrollton. The 17-suite center sits on a 3.2-acre site at 2155 Marsh Lane and was fully leased at the time of sale to a mix of service-oriented tenants. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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