Retail

NewQuest Properties Sells 71,107 SF Retail Center in Houston

by Taylor Williams May 14, 2018

HOUSTON — A partnership led by NewQuest Properties has sold Westlake Shopping Center, a 71,107-square-foot retail center located near the Houston-Katy line on the city’s west side. NewQuest has owned the property, which is anchored by a 24 Hour Fitness, since 2005. Brad Elmore of NewQuest represented the seller of record in the transaction. Matt Berry and Robbie Kilcrease of CBRE represented the buyer, Rising Sale Westlake LLC, in the transaction. The center was 95 percent leased at the time of sale.

May 14, 2018

Development Illinois Industrial Midwest Office Retail

Krusinski Breaks Ground on 112,505 SF Flex Building in Chicago’s Northwest Suburbs

by Jeff Shaw May 14, 2018

ROLLING MEADOWS, ILL. — Krusinski Construction Co. has broken ground on a 112,505-square-foot flex facility for School Health Corp. at 5600 Apollo Drive in Rolling Meadows. School Health is a national, full-service provider of health supplies, services and solutions. Construction on the distribution, shop and office facility began May 1. Ware Malcomb is the project architect and the Trammell Crow Co. is serving as project consultant. When completed, the new structure will include a two-story, 24,700-square-foot office space, plus a state-of-the-art warehouse with a dozen dock doors, a clear height of 32 feet, LED lighting and modern material handling equipment to service more than 100,000 customer orders per year. The new LEED-certified building will be centrally located among various retail restaurants and shopping centers, with close proximity to I-290 and I-90 situated directly north. The project is scheduled for completion this fall.

May 14, 2018

Iowa Leasing Activity Midwest Retail

Lucky Brand Opens at 300,000 SF Outlets of Des Moines

by Jeff Shaw May 14, 2018

ALTOONA, IOWA — Fashion retailer Lucky Brand has opened at the 300,000-square-foot Outlets of Des Moines in Altoona. The 5,500-square-foot store is the first Iowa location for the retailer, according to the Des Moines Register. Lucky Brand will carry vintage-inspired denim, apparel and accessories for men and women at the new location. New England Development opened the Outlets of Des Moines in October 2017. Lucky Brand joins tenants such as Nike Factory Store, LOFT Outlet, Brooks Brothers, Converse, Tommy Hilfiger and Vera Bradley.

May 14, 2018

Acquisitions California Retail Western

De Venture Building Purchases 8,807 SF Retail Property in Los Angeles for $4.1M

by Amy Works May 14, 2018

LOS ANGELES — De Venture Building LLC has acquired a retail property located at 19216 Ventura Blvd. in the Tarzana neighborhood of Los Angeles. An individual/personal trust sold the property for $4.1 million. The building features 8,807 square feet of retail space. Brandon Michaels of Marcus & Millichap represented the seller and buyer in the deal.

May 14, 2018

Acquisitions California Retail Western

Dental Practice Buys 3,600 SF Retail Property in California for $2.3M

by Amy Works May 14, 2018

ORANGE, CALIF. — A local dentist practice has purchased a single-tenant retail property located at 1936 E. Katella Ave. in Orange. A local private investor sold the property for $2.3 million. The buyer plans to convert the 3,600-square-foot space, which is currently a Japanese restaurant, into a dental office. Jones Real Estate represented the buyer, while Thomas Chichester, Joseph Chichester and Matt Brooks of Faris Lee represented the seller in the deal.

May 14, 2018

Maine Northeast Property Type Retail

Furniture Mattress & More Replaces 150,000 SF Macy’s in Bangor, Maine

by David Cohen May 11, 2018

BANGOR, MAINE — Out of the Box Ventures LLC, a subsidiary of global real estate development firm Lionheart Capital, has signed Furniture Mattress & Moreto a 150,000-square-foot lease at a former Macy’s location in Bangor. The transaction includes an option to purchase the property. Furniture Mattress & More will backfill the anchor space that previously housed Macy’s at the 650,000-square-foot Bangor Mall. The longtime Bangor-based retailer offers a wide selection of furniture, home furnishings, mattresses and home décor. Out of the Box acquired the former Macy’s in an online auction conducted by Ten-X in December 2017 for $750,000, according to the Bangor Daily News. Other anchor tenants at the Bangor Mall include Dick’s Sporting Goods and JCPenney.

May 11, 2018

Acquisitions Florida Retail Southeast

Highline Real Estate Acquires 88,000 SF Shopping Center in Tallahassee for $7.3M

by Camren Skelton May 11, 2018

TALLAHASSEE, FLA. — Highline Real Estate Capital has acquired Capital West Shopping Center, an 88,000-square-foot retail center in Tallahassee, for $7.3 million. Mark Gilbert, Adam Feinstein, Michell Halpern and Azam Malik of Cushman & Wakefield arranged the transaction on behalf of the seller, DDR Corp. Chris Lentz and Jason Hochman of Cushman & Wakefield arranged acquisition financing through Starwood Mortgage Capital on behalf of Highline. Ross Dress for Less anchors Capital West, and Walmart shadow-anchors the center.

May 11, 2018

Loans Retail South Carolina Southeast

Money360 Provides $3.2M Bridge Loan for Retail Center Near Columbia, South Carolina

by Camren Skelton May 11, 2018

RICHLAND, S.C. — Money360 has provided a $3.2 million bridge loan for a retail center in Richland, located roughly eight miles east of Columbia. The two-year, interest-only loan has a loan-to-value ratio of 52 percent. The name of the borrower was not disclosed. Bi-Lo recently vacated the center, and a fitness concept backfilled the space.

May 11, 2018

The-Shops-at-Spring-Village-Spring-Texas

Loans Retail Texas

JLL Arranges $7.1M Refinancing of New Retail Center in Metro Houston

by Taylor Williams May 10, 2018

SPRING, TEXAS — JLL has arranged an approximately $7.1 million loan for the refinancing of The Shops at Spring Village, a fully leased retail center in Spring, a northern suburb of Houston. Built in 2017, the property houses tenants such as AT&T, Sports Clips, Dominos and Dunkin’ Donuts. Jimmy Board and Connor Harrell of JLL arranged the non-recourse loan, fixed-rate loan on behalf of Houston-based Capital Retail Properties. Goldman Sachs provided the loan.

May 10, 2018

Acquisitions New York Northeast Retail

Charterhouse Acquires Kinney Drugs Location in New York for $2.8M

by David Cohen May 10, 2018

ELIZABETHTOWN, N.Y. — Charterhouse Development Corp. has acquired a Kinney Drugs retail store in Elizabethtown for $2.8 million. Located at 7550 Court St. in the small town in Upstate New York, STORE Master Funding X LLC sold the 11,598-square-foot store. Kinney Drugs is a national pharmacy chain with more than 110 locations primarily in Central and Northern New York.

May 10, 2018

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