Retail

Weitzman to Develop 830,000 SF, IKEA-Anchored Retail Center in Metro San Antonio

by Taylor Williams December 11, 2017

LIVE OAK, TEXAS — Weitzman will develop Live Oak Town Center, an 830,000-square-foot retail center that will be located at the southwest quadrant of Interstate 35 and Loop 1604 in Live Oak, a northeastern suburb of San Antonio. A 300,000-square-foot IKEA will anchor the property, which will also feature 530,000 square feet of retail, restaurant and entertainment space. The project also includes the development of a public road to be named IKEA RBFCU Parkway, which will connect the center to Loop 1604. Construction of the IKEA, which will be the Swedish furniture retailer’s only location in South Texas, is slated to begin in spring 2018 with completion scheduled for spring 2019. Construction of the adjacent space is slated for a late 2019 completion.

December 11, 2017

Marcus & Millichap Arranges Sale of 27,750 SF Retail Property in Houston

by Taylor Williams December 11, 2017

HOUSTON — Marcus & Millichap has arranged the sale of Woods Retail Plaza, a 27,750-square-foot retail property located at 4658 FM 1960 W. in Houston, across from the 285,727-square-foot North Oaks Power Center Built in 1975, the property was 87 percent leased at the time of sale and had a list price of roughly $2.4 million. Jerry Goldstein of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed.

December 11, 2017

Georgia Retail Southeast

Phillips Edison Acquires Kroger-Anchored Retail Center in Metro Atlanta for $13.9M

by Camren Skelton December 11, 2017

DACULA, GA. — Phillips Edison & Co. has acquired Mountain Crossing, a 96,606-square-foot shopping center in Dacula, 38 miles northeast of Atlanta in Gwinnett County, for $13.9 million. The name of the seller was not disclosed. Kroger anchors the center, which is also home to a UPS Store, Great Clips, Allstate Insurance and Chevron. Cincinnati-based Phillips Edison manages a portfolio of more than 345 shopping centers — 236 of which it owns directly — located in 32 states.

December 11, 2017

Idaho Loans Retail Western

RCG Ventures Acquires 471,340 SF Retail Center in Idaho

by Nellie Day December 11, 2017

NAMPA, IDAHO — RCG Ventures LLC has acquired Nampa Gateway Center, a 471,340-square-foot retail center in Nampa, a suburb of Boise, for an undisclosed price. Greg Brown, Chris Drew and Peter Thompson of HFF arranged a three-year, fixed-rate loan with two one-year extensions through A10 Capital for the acquisition. Other terms of the transaction were not disclosed. JC Penney anchors the center, which is home to tenants including Shoe Carnival, Edwards Theater, CircusTrix and Crunch Fitness.

December 11, 2017

California Retail Western

Panda Express Opens 2,000th Restaurant

by Nellie Day December 11, 2017

ROSEMEAD, CALIF. — Panda Express, which first opened on the West Coast in 1983, has opened its 2,000th location, with the newest location in New York City. Located in Manhattan, where Panda Express marked its East Coast expansion in 2015, the new restaurant is at the corner of Broadway and 111th Street. The 1,500-square-foot restaurant will provide seating for up to 38 guests. Since launching its first traditional New York City location two years ago, Panda Express has opened five additional New York City restaurants, with an upcoming opening in Brooklyn before the end of the year.

December 11, 2017

California Retail Western

Robert Redford’s Sundance Debuts New Apparel Store in San Diego

by Nellie Day December 11, 2017

SAN DIEGO — Sundance, a retailer of women’s and men’s apparel, footwear, jewelry, accessories, art and home décor, has opened its newest store in Westfield University Town Center in San Diego. Since August 2015, Sundance has opened stores in Edina, Minn.; Dallas; Southlake, Texas; Scottsdale, Ariz.; Tigard, Ore.; Atlanta; and Leawood, Kan., adding to its existing legacy stores in Park Meadows, Colo., and Corte Madera, Calif. Robert Redford, the famed actor, director and visionary of independent filmmaking, founded Sundance Catalog in 1989 to promote the works of artists and craftspeople from across the country and around the world. Sundance headquarters are located in Salt Lake City.

December 11, 2017

Retail Texas

Marcus & Millichap Closes Sale of 64,084 SF Retail Center in Metro Austin

by Taylor Williams December 8, 2017

ROUND ROCK, TEXAS — Marcus & Millichap has closed the sale of Mays Crossing, a 64,084-square-foot retail center located at 1201 S. Interstate 35 in the northern Austin metro of Round Rock. The property is located across the street from an Academy Sports + Outdoors. Other nearby retailers include O’Reilly Auto Parts, Pluckers Wing Bar and Cricket Wireless. Philip Levy of Marcus & Millichap represented the seller, a financial institution, and procured the buyer, a developer. Both parties requested anonymity.

December 8, 2017

North Carolina Retail Southeast

Asheville Outlets Wins ICSC Design and Development Award

by Camren Skelton December 8, 2017

ASHEVILLE, N.C. — The International Council of Shopping Centers (ICSC) has named the Asheville Outlets a commendation winner in the renovations and expansions category at the 2017 U.S. Design and Development Awards competition. ICSC announced the winners during an awards ceremony at ICSC’s RetailGreen and CenterBuild Conference in Scottsdale, Ariz. Nine real estate developments throughout the country won an award, and Asheville Outlets was the only outlet center and only Southeast property to achieve this distinction. New England Development developed and manages the property, which is the redevelopment of an enclosed regional shopping mall into a multi-building, open-air center. The 325,000-square-foot center features a mountain village design with stone cladding, wood accents, paved pedestrian walkways, water fountains, landscaped gardens and multiple seating areas. Located roughly five miles from downtown, Asheville Outlets is home to tenants including Ann Taylor, Banana Republic, Brooks Brothers, Coach, J. Crew, Tommy Hilfiger, Under Armour, Vera Bradley and Field & Stream.

December 8, 2017

Midwest Ohio Retail

Confluent Development Completes Two Verizon Wireless Stores in Ohio

by Kristin Harlow December 8, 2017

CINCINNATI AND DAYTON, OHIO — Confluent Development has completed two Verizon Wireless stores in Cincinnati and Dayton. The Cincinnati project is a renovation of a 4,522-square-foot freestanding, renovated facility along a retail corridor in the Western Hills area. Verizon relocated the Cincinnati store for a larger space. The renovation included the expansion of the sales floor area to enhance customer service. The store is located at 6211 Glenway Ave. The Dayton store is a 4,983-square-foot ground-up, build-to-suit development. Verizon decided to relocate the store in favor of the new facility’s more functional layout. Located at 2340 Miamisburg Centerville Road, the freestanding facility is in the Centerville neighborhood immediately adjacent to Target and near South Dayton Mall. The project marks one of the first Verizon Wireless locations built under the company’s new “Next Generation” store design, which incorporates the latest digital technology and merchandising concepts under Verizon’s new retail vision, according to Confluent.

December 8, 2017

New Jersey Northeast Retail

ShopOne Centers REIT Acquires 139,717 SF Retail Center in South Plainfield, New Jersey

by Amy Works December 8, 2017

SOUTH PLAINFIELD, N.J. — ShopOne Centers REIT has entered the metro New York City market with the acquisition of Oak Park Commons in South Plainfield. Located at the corner of Oak Tree Road and Park Avenue, the 139,717-square-foot property comprises three multi-tenant buildings and four single-tenant buildings. At the time of sale, the property was 98 percent occupied by a variety of tenants, including ACME Markets, CVS/pharmacy, Advance Auto Parts, Goodyear Tire, Dollar Tree, McDonald’s and Wells Fargo Bank. The acquisition price was not released.

December 8, 2017

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