Retail

Faris Lee Brokers $21M Sale 66,958 SF Retail Center in Torrance, California

by Nellie Day February 16, 2018

TORRANCE, CALIF. — Faris Lee Investments has arranged the sale of Southwood Village, a neighborhood retail center located at 22214-22251 and 22217-22251 Palos Verdes Blvd. and 5230 Sepulveda Blvd. in Torrance. Los Angeles-based BIG Shopping Centers USA sold the property to a private investor for $21 million. Situated on 5.5 acres, the 66,958-square-foot property was built in the 1950s and renovated in 2013. At the time of sale, the property was 97 percent occupied by major tenants, including Dollar Tree, ACE Hardware, Goodwill and Chevron. Richard Chichester and Donald MacLellan of Faris Lee represented the seller, while Triwell Properties represented the buyer in the transaction.

February 16, 2018

California Retail Western

Marcus & Millichap Negotiates $2.8M Sale of 5,000 SF Retail Property in LA

by Nellie Day February 16, 2018

LOS ANGELES — Marcus & Millichap has facilitated the sale of a retail property located at 9563 W. Pico Blvd. in Los Angeles. CRD Pico Associates acquired the property from a private investor for $2.8 million. The property features 5,000 square feet of retail space. Brandon Michaels and Andrew Leff of Marcus & Millichap represented the seller and buyer in the deal.

February 16, 2018

California Retail Western

Aldi Food Market Leases 23,931 SF Retail Space in Arroyo Grande, California

by Nellie Day February 16, 2018

ARROYO GRANDE, CALIF. — ALDI Food Market has signed a lease for retail space at the corner of East Grand Avenue and South Elm Street in Arroyo Grande. Grand & Elm Properties leased the 23,931-square-foot space to the grocer. Nick Frechou and Mike Arfsten of Retail California brokered the transaction.

February 16, 2018

Loans Mixed-Use Northeast Pennsylvania Retail

Silver Arch Capital Partners Secures $15M Acquisition Loan for Development Site in Philadelphia

by Amy Works February 16, 2018

PHILADELPHIA — Silver Arch Capital Partners has secured a $15 million land loan for the acquisition of two development sites, known as 1401 and 1401 R-S- Christopher Columbus Blvd. in South Philadelphia. The undisclosed borrower plans to develop up to 235 townhouses on the 22.9-acre site along the Delaware River, boat slips for owners’ watercraft, outdoor recreational activity areas and a riverfront cafe. Jeffrey Wolfer of Silver Arch Capital Partners arranged the financing for the borrower.

February 16, 2018

New York Northeast Retail

Charterhouse Development Acquires Retail Property in Cicero, New York, for $2.7M

by Amy Works February 16, 2018

CICERO, N.Y. — An entity operated by Charterhouse Development Corp. has purchased a retail property located at 7939 Brewerton Road in Cicero. Cicero ECK LLC sold the property for $2.7 million. Rite Aid occupies the 11,180-square-foot property.

February 16, 2018

Georgia Retail Southeast

Three New Tenants to Join Shops Around Lenox in Atlanta’s Buckhead District

by Camren Skelton February 16, 2018

ATLANTA — Three new tenants will join Shops Around Lenox, an open-air shopping center in Atlanta’s Buckhead district, in the coming months. New York-based fitness company SoulCycle will open its first Atlanta location at the center in late April, and healthy food concept Flower Child will open its first location in the city in mid-summer. West Elm will also open a new location at the center this summer. The new tenants join recent additions to Shops Around Lenox including Draper James, which opened in November 2017; Blo Blow Dry Bar, which opened in 2016; and Kendra Scott, which opened in 2014. Additional tenants at the center include South Moon Under, Crate & Barrel, Paper Source, lululemon athletica, Suit Supply, fab’rik and Seven Lamps. Retail consultant Tisha Maley and JLL were retained to update and manage the new tenant lineup. Originally constructed in 1979, Shops Around Lenox was updated in 2009 with refreshed facades, new community gathering spaces and new artwork. The center is located within walking distance to more than 10 million square feet of office space, seven hotels and Lenox Square, an enclosed regional mall owned and operated by Simon.

February 16, 2018

California Retail Western

Dick’s Sporting Goods Opens Four New Stores in February

by Nellie Day February 15, 2018

SANTA MONICA, CALIF. — Dick’s Sporting Goods, the largest U.S.-based, omni-channel sporting goods retailer, will open four new Dick’s Sporting Goods stores in February. The new stores are opening this month in Santa Maria, Calif.; Evansville, Ind.; Baxter, Minn.; and Warwick, R.I. The company will now have 721 Dick’s Sporting Goods stores nationwide in 47 states. Founded in 1948, Dick’s Sporting Goods Inc. operates more than 715 Dick’s Sporting Goods locations across the United States. Headquartered in Pittsburgh, the company also owns and operates Golf Galaxy and Field & Stream specialty stores.

February 15, 2018

Loans New York Northeast Retail

Progress Capital Arranges $8.2M in Refinancing for Retail Property in the Bronx

by Amy Works February 15, 2018

NEW YORK CITY — Progress Capital has arranged $8.2 million in refinancing for the former Apple Bank Building at 2526 Grand Concourse in the Bronx. The borrower, Madd Equities, plans to use proceeds of the loan to renovate the street- and basement-level retail spaces at the property. Brad Domenico of Progress Capital secured the financing, which includes a 24-month interest-only payment period.

February 15, 2018

Retail Texas

Urban Air to Open 37,000 SF Trampoline Park in Greater Houston

by Taylor Williams February 15, 2018

SHENANDOAH, TEXAS — Urban Air Trampoline & Adventure Park will open a 37,000-square-foot venue at Sam Moon Center in Shenandoah, a northern suburb of Houston. The venue will offer trampoline activities, indoor skydiving, ropes courses, climbing walls and a café. Michael Stern of Edge Realty Partners represented Urban Air in the lease negotiations. Steve Greenberg and Kendall Isben of The Retail Connection represented the landlord, Sam Moon Group. The opening is slated for July.

February 15, 2018

Retail Texas

JLL Arranges Sale of 13,900 SF Retail Property Leased to Frost Bank in Metro Fort Worth

by Taylor Williams February 15, 2018

HURST, TEXAS — JLL has arranged the sale of a 13,900-square-foot retail property located at 340 Grapevine Highway in the eastern Fort Worth metro of Hurst. Frost Bank owned and occupied the single-tenant property, which was purchased by Westover Hurst LLC. Pat McDowell and Todd Burnett of JLL represented Frost Bank in the sale. Mack House of The Westover Group represented the buyer. The sale includes the 2.1 acres of land surrounding the building.

February 15, 2018

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