Retail

Three Food and Beverage Concepts to Open at Grandscape in Metro Dallas

by Taylor Williams March 21, 2018

THE COLONY, TEXAS — Three food-and-beverage-based concepts have been added to the tenant roster at Grandscape, the 433-acre mixed-use project in the northern Dallas metro of The Colony that is being developed by Nebraska Furniture Mart. Akira Back Steak, a concept that merges Korean barbecue with the atmosphere of an American steakhouse, will open a 4,000-square-foot restaurant during the first quarter of 2019. Cigars International will open a 6,400-square-foot bar, cigar lounge and retail store during the fourth quarter. Walk-On’s Bistreaux & Bar, a Cajun food concept, will open an 8,500-square-foot restaurant with a patio and beer garden during the second quarter of 2019.

March 21, 2018

Acquisitions Georgia Retail Southeast

Marcus & Millichap Arranges $3.5M Sale of CVS/Pharmacy-Leased Building in Metro Atlanta

by Camren Skelton March 21, 2018

MARIETTA, GA. — Marcus & Millichap has brokered the $3.5 million sale of an 11,370-square-foot property leased to CVS/pharmacy in Marietta. The property is located at 3051 Sandy Plains Road, roughly 26 miles north of downtown Atlanta. Don McMinn of Marcus & Millichap’s Taylor McMinn retail group arranged the sale on behalf of both the buyer, Agree Realty Corp., and the seller, Branch Properties. CVS/pharmacy had 11 years remaining on its lease at the time of sale.

March 21, 2018

California Development Mixed-Use Multifamily Office Restaurant Retail Western

Trammell Crow-Led Group to Build $500M Mixed-Use Project in Bay Area

by Amy Works March 21, 2018

ALAMEDA, CALIF. — A joint venture led by Trammell Crow Residential (TCR) plans to develop Alameda Point, a $500 million mixed-use project located in the Bay Area city of Alameda. Alameda Point Partners (AAP), which includes srmERNST Development Partners, Madison Marquette, Eden Housing and Cypress Equity Investments, officially closed on the transfer of approximately 30 acres for Site A of the mixed-use, transit-oriented waterfront development. The first phase of Site A will consist of 673 housing units, including 130 units for low- and very-low-income households and 310 units for middle-income households; eight acres of parks and open space; funding for the Seaplane Lagoon Ferry Terminal; and 93,000 square feet of retail space. Completion of the new infrastructure is expected over the next two to three years, with the first new residences scheduled to open in 2021. AAP negotiated the sale of several parcels to various builders and developers to coincide with the sale and transfer of the first 30 acres: Block 8 – Eden Housing will develop a 70-unit multifamily affordable community and a 60-unit affordable seniors housing community. Block 6 – Trumark Homes will develop 123 townhomes. Block 9 – Cypress Equity Investments will develop a 200-unit apartment community with …

March 21, 2018

Development Midwest Missouri Retail

Knoebel Construction Completes $5M Fresh Thyme Store in St. Peters, Missouri

by Kristin Harlow March 21, 2018

ST. PETERS, MO. — Knoebel Construction has completed a new $5 million Fresh Thyme grocery store in St. Peters, a suburb of St. Louis. The 28,720-square-foot store features an extensive bulk food section with more than 400 bins of items. Approximately 25 percent of the store’s floor space is dedicated to fresh produce. Approximately 95 people will work at the new store. Fresh Thyme, a Midwest-based specialty retailer, operates other St. Louis-area stores in Kirkwood, Ballwin, South St. Louis and O’Fallon, as well as Fairview Heights, Ill. InSite Real Estate was the developer. NORR was the project architect.

March 21, 2018

Acquisitions California Retail Western

Hanley Investment Arranges Sale of 31,980 SF Shopping Center in Sacramento

by Amy Works March 21, 2018

SACRAMENTO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Westlake Village, a shopping center located at 3501-3511 Del Paso Road in Sacramento. The sale also included 4.3 acres of developable land. Donahue Schriber Realty Group sold the 31,980-square-foot property to a San Francisco-based family trust for an undisclosed price. Built in 2007, the center was 92 percent occupied at the time of sale. Tenants include Walgreens, Allstate Insurance, AIM Mail Center, Chase Bank, Creative Nail Spa, Donahue Schriber, Subway and Westlake Hair Studio. Bill Asher and Ed Hanley of Hanley Investment, in conjunction with Ten-X, represented the seller, while Eric Vu, also of Hanley, represented the buyer in the deal.

March 21, 2018

Leasing Activity Retail Texas

WinCo Foods to Open 82,077 SF Grocery Store in Metro Dallas

by Taylor Williams March 20, 2018

CARROLLTON, TEXAS — Idaho-based discount grocer WinCo Foods will open an 82,077-square-foot grocery store within Trinity Valley Shopping Center in Carrollton on March 29. The store will occupy an anchor space that was previously leased to Target and was redeveloped following that store’s closing in 2015. For WinCo Foods, an employee-owned grocer, the Trinity Valley location will be its 120th overall.

March 20, 2018

Retail Texas

Dave & Buster’s to Open 18,000 SF Venue at La Palmera in Corpus Christi

by Taylor Williams March 20, 2018

CORPUS CHRISTI, TEXAS — Dave & Buster’s will open an 18,000-square-foot restaurant and gaming center within La Palmera, a 1 million-square-foot regional shopping mall currently being redeveloped by Trademark Property Co. in Corpus Christi. The venue, which will be the first Dave & Buster’s on Texas’ Coastal Bend, is scheduled to open in time for the 2018 holiday season. Other tenants that have recently taken space at La Palmera include jeweler Kendra Scott, Perfect Brow & Relaxology salon and Steak n’ Shake.

March 20, 2018

Acquisitions Retail Texas

Baker Katz Acquires 9,190 SF Shopping Center in Southwest Houston

by Taylor Williams March 20, 2018

HOUSTON — BK Kirby LP, an entity of Houston-based Baker Katz, has acquired a 9,190-square-foot shopping center located at 5802 Kirby Drive in southwest Houston. The center is home to tenants such as Papa John’s, Creative Blinds, RadioShack and Sprint. Jim Bayne of Investar Real Estate Services Inc. represented the seller, Kirby Shopping Center LP, in the sale.

March 20, 2018

Acquisitions Florida Retail Southeast

Phillips Edison Acquires 135,437 SF Shopping Center in Central Florida

by Camren Skelton March 20, 2018

LEESBURG, FLA. — Phillips Edison & Co. has acquired Shoppes of Lake Village, a 135,437-square-foot shopping center in the Central Florida community of Leesburg. The name of the seller and sales price were not disclosed. Publix anchors the center, which is also home to tenants such as Advance Auto Parts, Dollar Tree, H&R Block, Bon Worth, Wells Fargo Bank and Wireless Unlimited.

March 20, 2018

Acquisitions Indiana Midwest Retail

HFF Arranges Sale of 407,363 SF Retail Center in Fort Wayne, Indiana

by Kristin Harlow March 20, 2018

FORT WAYNE, IND. — HFF has arranged the sale of Jefferson Pointe in Fort Wayne for an undisclosed price. The 407,363-square-foot retail center is situated on 50 acres at 4110 W. Jefferson Blvd. Tenants at the property, built in 2000, include Carmike Cinemas, Bed Bath & Beyond, Barnes & Noble, Marshalls, Ulta Beauty, Old Navy, White House Black Market, Vera Bradley, Michaels and Tucanos Brazilian Grill. A separately owned Von Maur shadow anchors the property. The vacancy rate is around 20 percent, according to The Journal Gazette. Amy Sands, Clinton Mitchell, Barry Brown, Dave Keller and Claudia Steeb of HFF represented the seller, Institutional Mall Investors LLC, which was advised by Miller Capital Advisory Inc. Jefferson Pointe Center SPE LLC purchased the asset.

March 20, 2018

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