Retail

GBT Realty Acquires Shopping Center in Asheville from Kimco for $25.5M

by Camren Skelton January 9, 2018

ASHEVILLE, N.C. — GBT Realty Corp. has acquired Overlook Village, a 153,820-square-foot shopping center in Asheville, for $25.5 million. Berkeley Capital Advisors arranged the transaction on behalf of the seller, Kimco Realty. Constructed in 1989, Overlook Village was 80 percent leased at the time of sale to tenants including HomeGoods, T.J. Maxx and Ross Dress for Less. The property also houses a vacant anchor space that was formerly leased to hhgregg. The new owner plans to announce redevelopment plans for the property in the spring.

January 9, 2018

Retail Washington Western

Regency Centers Acquires 150,000 SF Retail Center in Seattle for $68.3M

by Nellie Day January 8, 2018

SEATTLE — Regency Centers Corp. has acquired Roosevelt Square, a 150,000-square-foot, multi-level shopping center in Seattle. The Puget Sound Business Journal reports TH Real Estate, an affiliate of Nuveen, sold the asset for $68.3 million. Whole Foods Market anchors the center, which was fully leased at the time of sale to tenants such as Dania Furniture, Umpqua Bank, Starbucks Coffee, Mattress Firm and Bartell Drugs Store.

January 8, 2018

Colorado Retail Western

HFF Arranges $20M Sale of Shopping Center in Denver

by Nellie Day January 8, 2018

DENVER — HFF has arranged the $20 million sale of Tamarac Shopping Center, a 68,534-square-foot retail center in Denver. Chad Murray, Mark Williford and Bryan Ley of HFF arranged the transaction on behalf of the seller, DDR Corp. Tamarac Shopping Center 17 A LLC acquired the property, which was fully leased at the time of sale. Target shadow-anchors the center, which includes three single-tenant buildings triple-net-leased to Chick-fil-A, Benihana and Bank of the West, as well as a 33,099-square-foot strip center with 12 tenants including anchor Ace Hardware.

January 8, 2018

California Office Restaurant Retail Western

Taco Bell Expands Office Presence in Irvine, California

by Nellie Day January 8, 2018

IRVINE, CALIF. — Taco Bell Corp. has expanded its executive team and leadership capabilities with three new positions as the brand inches toward its goal of being a $15 billion company with 9,000 restaurants globally by 2022. Taco Bell is bringing on Julie Felss Masino as brand president, where she will be responsible for ensuring the brand continues to deliver same-store sales growth by driving innovation, new store development and customer experience. She will also continue the brand’s partnership with its franchisees. This addition will allow CEO Brian Niccol the opportunity to focus on the company’s growth as a global brand while continuing to oversee the U.S. business. Masino comes to Taco Bell from Mattel Inc., where she led the Fisher Price division. Prior to that, she had extensive experience in the restaurant industry. Masino spent 12 years at Starbucks in leadership positions across numerous functions including in marketing, operations and strategic growth — both domestically and globally. She also has experience building newer brands, having served as CEO of Sprinkles Cupcakes Inc., where she grew store count and diversified retail product offerings, successfully launching its newest concept of cupcakes and ice cream. As part of the company’s structuring for …

January 8, 2018

Loans New York Northeast Retail

G.S. Wilcox & Co. Secures $25.2M Loan for Retail Development Site in Yorktown, New York

by Amy Works January 8, 2018

YORKTOWN, N.Y. — G.S. Wilcox & Co. has secured $25.2 million in financing for the site development of a future Lowe’s Home Improvement Warehouse, which has a 20-year ground lease, in Yorktown. David Fryer of G.S. Wilcox & Co. arranged the loan that features a two-year construction period and a 20-year term thereafter. The loan includes an extended amortization period beyond the initial lease term without the use of residual value insurance. The site has three additional pad sites that were left unencumbered, allowing the borrower to lease those to tenants and secure necessary financing.

January 8, 2018

Illinois Midwest Retail

Inland Completes Purchase of Four Properties Occupied by Jewel-Osco in Suburban Chicago

by Kristin Harlow January 8, 2018

CHICAGO — Inland Real Estate Acquisitions LLC has closed on the purchase of four retail properties occupied by Jewel-Osco in suburban Chicago. The properties total a combined 248,622 square feet and feature new 20-year leases. The assets include: 1860 S. Arlington Heights Road in Arlington Heights; 1340 Patriot Blvd. in Glenview; 1759 W. Odgen Ave. in Naperville; and 7122 W. 40th St. in Stickney. Joe Cosenza of Inland and Gina LaMantia, managing counsel for Charles J. Benvenuto PC, completed the transaction on behalf of an Inland affiliate. The seller was not disclosed.

January 8, 2018

Illinois Midwest Retail

CBL Begins Redevelopment of Mall Property in Bloomington, Illinois

by Kristin Harlow January 8, 2018

BLOOMINGTON, ILL. — CBL Properties has launched redevelopment of Eastland Mall in Bloomington. H&M and Planet Fitness will occupy the space formerly home to J.C. Penney. Outback Steakhouse is also slated to join the lineup of tenants. Construction of H&M, Planet Fitness and Outback Steakhouse is currently underway. Tenants are expected to open prior to the 2018 holiday season. The mall, originally built in 1967, has a gross leasable area of 760,833 square feet.

January 8, 2018

Retail Texas

Capital Retail Properties Breaks Ground on Strip Retail Center Near Houston

by John Nelson January 8, 2018

LA MARQUE, TEXAS — Houston-based Capital Retail Properties has broken ground on La Marque Crossing, a 15,000-square-foot retail strip center located at the intersection of Interstate 45 and FM 1764 in La Marque, roughly 38 miles southeast of Houston. The property will be situated on 1.4 acres in front of a Sam’s Club and Walmart Supercenter. Leslie’s Pool Supplies has preleased 3,300 square feet, and GNC has committed to 1,440 square feet. The architect of record is Identity Architects, and Axiom Construction is the project’s general contractor. The development is expected to open in March.

January 8, 2018

Retail Texas

EDGE Capital Markets Brokers Sale of Retail Property in Metro Houston

by John Nelson January 8, 2018

SPRING, TEXAS — EDGE Capital Markets has brokered the sale of Legends Ranch Shopping Center, an 18,500-square-foot retail asset located at 2907 Rayford Road in Spring, a suburb of Houston. Josh Jacobs and Burdette Huffman of EDGE Capital Markets represented the seller, Peterson Legends Ranch Investors LP, in the transaction. Located at the intersection of Rayford Road and Canyon Ranch Drive, Legends Ranch was fully leased at the time of sale to tenants including McDonald’s and Timewise.

January 8, 2018

California Retail Western

Quarry Creek Investors Sells 15,690 SF Retail Center in Oceanside

by Nellie Day January 5, 2018

OCEANSIDE, CALIF. — Quarry Creek Investors has completed the disposition of Quarry Creek Plaza, a retail center located at 3460 and 3480 Marron Road in Oceanside. Completed in 2003, the 15,690-square-foot property is 92.6 percent leased to a variety of tenants, including Jamba Juice, Subway, Los Tacos, Poki Poki, Supercuts, American Dry Clean, Happiness Nails and Smashburger. Gleb Lvovich of HFF, along with Mike Moser of Retail Insite, represented the seller. Terms of the transaction and the name of the buyer were not released.

January 5, 2018

Newer Posts

Older Posts