Retail

Marcus & Millichap Brokers $3.1M Sale of Net-Leased Texas Roadhouse Location in New Jersey

by David Cohen June 25, 2018

HOWELL, N.J. — Marcus & Millichap has brokered the $3.1 million sale of a net-leased Texas Roadhouse restaurant located at 5309 US Highway 9 in Howell. Karly Iacono of Marcus & Millichap’s National Retail Group represented the seller, a developer, in the transaction. Marcus & Millichap also represented the buyer, a private client executing a 1031 exchange. The property is subject to a 15-year ground lease with Texas Roadhouse. Nearby retailers include Lowe’s, Target, LA Fitness, ShopRite and Hobby Lobby.

June 25, 2018

Acquisitions Nevada Retail Western

NAI Alliance Arranges Sale of 15,984 SF Shopping Center in Sparks, Nevada

by Amy Works June 25, 2018

SPARKS, NEV. — NAI Alliance has brokered the sale of Marina Marketplace, a shopping center located in Sparks. An undisclosed buyer purchased the property for $4.4 million. Mark Keyzer negotiated the transaction. The 15,984-square-foot property is occupied by 11 tenants, including Peg’s Glorified Ham ‘N Eggs as the anchor. The name of the seller was not released.

June 25, 2018

Acquisitions Retail Texas

SHOP Cos. Brokers Sale of Three Retail Properties Totaling 20,736 SF in Dallas Area

by Taylor Williams June 22, 2018

DALLAS, ALLEN AND FRISCO, TEXAS — SHOP Cos. has brokered the sale of three retail properties totaling 48,736 square feet in the Dallas area. The sold properties include the 12,153-square-foot Stacy Plaza in Allen; the 5,083-square-foot Sprint & Castle Spa in Frisco; and a 3,500-square-foot, single-tenant property in Dallas. Tommy Tucker, Tim Axilrod and Cameron Burk of SHOP Cos. represented the four different sellers in each transaction. All three buyers are based in Texas.

June 22, 2018

Acquisitions New Jersey Northeast Retail

Stream Capital Partners Arranges $12M Sale of Walgreens Near Newark

by David Cohen June 22, 2018

SHORT HILLS, N.J. — Stream Capital Partners has arranged the $12 million sale of a Walgreens property in Short Hills, located about 25 miles west of Manhattan. Phil DiGennaro, Jordan Shtulman and Jonathan Wolfe of Stream Capital represented the undisclosed seller in the transaction. The buyer was a private investor. The 14,963-square-foot property has 19 years remaining on the triple-net lease, which expires in 2036.

June 22, 2018

Acquisitions California Retail Western

Walnut Town & Country Retail Center in California Changes Hands for $10.7M

by Amy Works June 22, 2018

WALNUT, CALIF. — Faris Lee Investments has arranged the sale of Walnut Town & Country, a multi-tenant retail center located at 1205-1243 N. Grand Ave. in Walnut. A Northern California-based family trust acquired the property from an Oregon-based family trust for $10.7 million. Built in 1988, the 22,322-square-foot property is situated on 1.2 acres of land at the intersection of Amar Road and Grand Avenue. At the time of sale, the property was 95 percent occupied by a variety of tenants, including Jack in the Box, Subway, Wing Stop, Lollicup and Mathnasium. Shaun Riley of Faris Lee represented the seller and buyer in the deal.

June 22, 2018

Acquisitions New Jersey Northeast Retail

HFF Brokers Sale of 7,000 SF Advance Auto Parts in Browns Mills, New Jersey

by David Cohen June 22, 2018

BROWNS MILLS, N.J. — HFF has brokered the sale of a 7,000-square-foot retail building leased to Advance Auto Parts in Browns Mills, about 40 miles east of Philadelphia. The sales price was not disclosed. HFF represented the seller, a family trust, in the transaction. A private investor purchased the property. Advance Auto Parts has occupied the building since 2004 and has six years remaining on the lease.

June 22, 2018

Iowa Leasing Activity Midwest Retail

Old Navy to Open at Outlets of Des Moines This Fall

by Kristin Harlow June 22, 2018

ALTOONA, IOWA — Old Navy Outlet is set to open at the Outlets of Des Moines this fall. The men, women and kids clothing retailer will occupy 12,000 square feet. New England Development is the developer behind the 300,000-square-foot outlet center, which is located at 801 Bass Pro Drive near I-80. Current retailers at the property include LOFT Outlet, Nike Factory Store, Express Factory Outlet, Tommy Hilfiger and Under Armour.

June 22, 2018

Loans New Jersey Northeast Retail

Houlihan-Parnes Arranges $17M Refinancing for Independence Plaza in Central New Jersey

by David Cohen June 21, 2018

HAMILTON, N.J. — Houlihan Parnes Realtors has arranged a $17 million refinancing for Independence Plaza, a shopping center in Hamilton. Located at 2465 South Broad St., the center is currently 75 percent occupied with a tenant roster that includes Regal Cinemas, Crunch Fitness, Save-a-lot, and Dollar Tree. The property is owned jointly by members of the Jemal and Houlihan families, of JJ Operating Inc. and Houlihan-Parnes Realtors, LLC. The property was recently appraised for $28.5 million, according to Houlihan Parnes. Houlihan Parnes secured a fixed-rate loan for the borrower for a term of five years with the option for ownership to extend for an additional five years. The lender was not disclosed.

June 21, 2018

Acquisitions Retail Washington Western

Marcus & Millichap Negotiates $3.1M Sale of Retail Property in Seattle

by Amy Works June 21, 2018

SEATTLE — Marcus & Millichap has brokered the sale of a retail property located at 5201 Ballard Ave. NW in Seattle. A limited liability company acquired the property from a private investor for $3.1 million. Built in 1905, the two-story building features 10,540 square feet of retail space. Brian Mayer and Clayton Brown of Marcus & Millichap’s Seattle office represented the seller, while Mayer also represented the buyer in the transaction.

June 21, 2018

Acquisitions Midwest Net Lease Ohio Retail

Boulder Group Arranges $5.2M Sale of Two Properties Net Leased to CVS in Ohio

by Kristin Harlow June 21, 2018

HARTVILLE AND NORTH ROYALTON, OHIO — The Boulder Group has arranged the sale of two single-tenant properties net leased to CVS Pharmacy in Ohio for $5.2 million. The properties are located at 600 W. Maple St. in Hartville, about 15 miles north of Canton, and 8001 W. 130th St. in North Royalton, about 15 miles south of Cleveland. CVS has approximately five years remaining on its leases, which expire in January 2023. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based real estate investment company. The buyer was a Southeast-based real estate partnership.

June 21, 2018

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