Retail

Gazit-Globe Acquires Leasehold Interest in Brooklyn Shopping Center for $43M

by David Cohen July 3, 2018

NEW YORK CITY — Gazit Horizons, a subsidiary of Tel Aviv-based Gazit-Globe, has acquired a joint venture interest in the Ceasar’s Bay Shopping Center located in the Gravesend neighborhood of Brooklyn. The joint venture, between Gazit and affiliates of Surrey Equities, owns the leasehold interest in the 300,000-square-foot shopping center. Gazit-Globe’s total investment was $43 million. The property sits on over 14 acres of waterfront land and has a tenant roster that includes Kohl’s, Best Buy, Modell’s Sporting Goods, Five Guys, Starbucks, and Vitamin Shoppe. Pryor Cashman partners Todd Soloway and Danielle Schechner and associates Ari Tran and Ari Buchen represented Gazit Horizons, Inc. in the transaction.

July 3, 2018

American-Furniture-Warehouse-Fort-Collins-Colorado

Development Industrial Retail Texas

AFW to Open Two Stores Totaling 853,700 SF in Metro Houston

by Taylor Williams July 3, 2018

KATY AND WEBSTER, TEXAS — Colorado-based American Furniture Warehouse (AFW) will open two stores totaling 853,700 square feet in metro Houston. The company will open a 498,700-square-foot store on a 29-acre site in Katy, located west of Houston, as well as a 355,000-square-foot store on a 23-acre tract in Webster, a southeastern suburb of Houston. Both properties will feature showrooms and storage areas. Ben Brown of Houston-based brokerage firm Baker Katz represented AFW in the acquisitions of both sites. The stores will be the company’s first locations in Texas. Construction on the Katy store will begin in late fall/early winter, while work on the Webster store will commence in July or August. Both projects are expected to have construction periods lasting 10 to 12 months.

July 3, 2018

Acquisitions Retail Texas

Albanese Cormier Acquires 105,605 SF Shopping Center in Fort Worth

by Taylor Williams July 3, 2018

FORT WORTH, TEXAS — Beaumont-based investment firm Albanese Cormier Holdings has acquired Renaissance Square, a 105,605-square-foot shopping center in Fort Worth. The Class A property, which was built in 2014 and is shadow-anchored by Walmart, was 98.5 percent leased at the time of sale. The shopping center’s tenant roster includes anchor Ross Dress for Less, Marshalls, Dollar Tree and Hibbett Sports. Eric Wohl and Andrew Cunningham of Hanley Investment Group represented Albanese Cormier in the transaction. Jeffrey Jackson of CBRE represented the seller, Midland-based Moriah Real Estate Co.

July 3, 2018

Acquisitions Illinois Midwest Retail

Love’s Travel Stops Purchases Two Development Sites in Illinois

by Kristin Harlow July 3, 2018

ROCHELLE AND HAMPSHIRE, ILL. — Love’s Travel Stops has purchased two development sites in Illinois. The first site is a 17-acre parcel near I-88 in Rochelle, about 30 miles south of Rockford. Dave Schmidt and Linda Kost of Realty Metrix Commercial represented Love’s in the sale. Intermodal Capital Holdings LP was the seller. Love’s also purchased a 99-acre farm in Hampshire, about 40 miles east of Rockford. Schmidt represented the seller, the Henning family. The site, located near I-90, will also include an Arby’s restaurant. Construction of both travel stops is expected to begin this month. Love’s provides truck drivers and motorists with 24-hour access to places to purchase gasoline, diesel fuel, travel items and snacks. The company plans to open more than 40 new locations this year, according to Realty Metrix.

July 3, 2018

Acquisitions Florida Loans Retail Southeast

HFF Secures $19.8M Sale, $13.7M Financing for Retail Center in Orlando

by Camren Skelton July 3, 2018

ORLANDO, FLA. — HFF has secured the $19.8 million sale of Alafaya Commons, a 130,811-square-foot retail center located at 11792-11970 E. Colonial Drive in Orlando. Brad Peterson and Whitaker Leonhardt of HFF arranged the transaction on behalf of the seller, Regency Centers. Rebecca Van Reken and Gregg Shapiro of HFF secured a $13.7 million acquisition loan through First Florida Integrity Bank on behalf of the buyer, LBX Investments. The five-year loan features a fixed interest rate. Alafaya Commons was constructed in 1987 and renovated in 2015. The center was 89.7 percent leased at the time of sale to tenants such as Academy Sports + Outdoors, Youfit Health Clubs, H&R Block, GNC, Goodfellas Pizza, Orange County Health & Family, Sunset Christian Preparatory and Junior Colombian Burger. The center also includes outparcels that house Taco Bell, Amscot and Chuan Lu Garden.

July 3, 2018

Acquisitions California Development Hospitality Retail Western

Brixton Capital Purchases Former Police Station in California for $4.2M

by Amy Works July 3, 2018

EL CAJON, CALIF. — Brixton Capital has acquired the former El Cajon Police Station, located at 100 Fletcher Parkway in El Cajon, for $4.2 million. The seller was the City of El Cajon. The buyer plans to transform the 4.1-acre site in Fletcher Marketplace, a mixed-use project comprising approximately 16,000 square feet of retail space and a 60,000-square-foot hotel. Brixton will sell 1.4 acres of the site to Excel Hotel Group, which will handle the hotel development portion of the project. The retail center is 99 percent pre-leased to a variety of tenants, including In-and-Out, Blaze Pizza, California Fish Grill, Urbane Café and Mattress Firm. Dempsey Construction is serving as contractor for the retail development. Don Moser and Matt Moser of Retail Insite represented the buyer and seller in the transaction.

July 3, 2018

Acquisitions Florida Retail Southeast

ShopOne Acquires Publix-Anchored Shopping Center Near Daytona Beach for $21.9M

by Camren Skelton July 2, 2018

ORMOND BEACH, FLA. — ShopOne Centers REIT Inc. has acquired The Trails Shopping Center, a 135,286-square-foot shopping center located at 282 N. Nova Road in Ormond Beach, a city on Florida’s east coast near Daytona Beach. Sabal Financial Group LP – Slate Trails Holdings LLC sold the asset for $21.9 million. Richard Chichester, Donald MacLellan and Shaun Riley of Faris Lee Investments arranged the transaction on behalf of ShopOne. Originally constructed in 1978, The Trails Shopping Center underwent a major renovation in 2017. A 36,866-square-foot Publix anchors the property, which was 77 percent leased at the time of sale. Additional tenants include Talbot’s, Chico’s, LOFT, Dairy Queen, Anytime Fitness, Jos. A. Bank, White House-Black Market, BurgerIM and Supercuts.

July 2, 2018

Acquisitions Florida Retail Southeast

NKF Capital Markets Arranges $18.3M Sale of Shopping Center, Outparcel in North Florida

by Camren Skelton July 2, 2018

LAKE CITY, FLA. — NKF Capital Markets has arranged the $18.3 million sale of Gleason Place, a 129,000-square-foot shopping center located at 275 Hutton Place N.W. in Lake City, a city in North Florida. The sale included the shopping center and a 1.3-acre land outparcel. Drew Fleming and Mark Joines of NKF Capital Markets represented the seller, Hutton, in the transaction. North Lauderdale Associates acquired the property. Constructed in 2017, Gleason Place was fully leased at the time of sale to tenants such as Hobby Lobby, Ross Dress for Less and Dick’s Sporting Goods. The center is located adjacent to a Publix-anchored center and the recently renovated Lake City Mall.

July 2, 2018

Acquisitions Retail Texas

STRIVE Negotiates Sale of 43,000 SF Shopping Center in Dallas

by Taylor Williams July 2, 2018

DALLAS — Dallas-based retail brokerage firm STRIVE has negotiated the sale of Glen Oaks Crossing, a 43,000-square-foot shopping center in Dallas. Shadow-anchored by Walmart, the Class A property was developed in 2015. Jason Vitorino of STRIVE represented the seller, a local developer, in the transaction. Glen Oaks Crossing was 100 percent leased at the time of sale.

July 2, 2018

Acquisitions Illinois Midwest Retail

HFF Arranges $16M Sale of Retail Portion of Historic Chicago Building

by Kristin Harlow July 2, 2018

CHICAGO — HFF has arranged the $16 million sale of a 13,062-square-foot retail space in the heart of Chicago’s financial district. The space is part of the Roanoke Building, a historic office tower located at 11 S. LaSalle St. Originally constructed in 1915 and renovated in 2015, the tower is 91 percent occupied. Tenants of the retail portion include Citibank, Roanoke Restaurant, 7-Eleven and T-Mobile. Amy Sands and Clinton Mitchell of HFF represented the seller, an affiliate of The Prime Group Inc. The buyer was not disclosed.

July 2, 2018

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