Retail

Colliers International Arranges $1.3M Sale of Retail Property in San Diego

by Nellie Day May 5, 2017

SAN DIEGO — Colliers International has arranged the $1.3 million sale of a 3,044-square-foot, two-unit retail condominium located in San Diego’s Bankers Hill neighborhood. Bill Shrader, David Maxwell and Joe Brady of Colliers International represented the San Diego-based seller, CR 5th & Nutmeg, and San Diego-based buyer The Cohen Family Trust. Shrader, Maxwell and Brady also secured Brooklyn Bicycles as the tenant for one of the units concurrently with the sale of the property. The shell-condition condominium is located at 2655 Fifth Ave. on the ground floor of Vue on 5th, a recently completed 45-unit residential building.

May 5, 2017

Michigan Midwest Office Retail

Ford Land Begins Construction of Wagner Place Office and Retail Development in Dearborn, Michigan

by Kristin Harlow May 5, 2017

DEARBORN, MICH. — Ford Land Development Corp., the real estate arm of Ford Motor Co., has begun transformation of the Dearborn campus with the groundbreaking of Wagner Place, a development featuring office and retail space. The $60 million Ford investment will provide Ford employees and nearby residents with new retail and restaurant options, complemented by green space, outdoor seating and enhanced walkability. Ford is transforming about two blocks of largely vacant buildings into the 150,000-square-foot development. Wagner Place will feature two floors of workspace and a rooftop patio in addition to first-floor retail and restaurant space. Approximately 600 Ford global data insights and analytics employees will occupy the property. The development is part of the 10-year transformation of the company’s more than 60-year-old Dearborn facilities, which will relocate 30,000 employees from 70 buildings into primarily two sites: a product campus and a world headquarters campus. Wagner Place is scheduled for completion in mid-2018. With $3 million in support from the Michigan Strategic Fund, the city of Dearborn will construct a 373-spot public parking structure near the development at West Village Drive and Monroe Street for consumer and Ford employee parking. Dearborn is overseeing an $18 million investment for the west downtown area …

May 5, 2017

Retail Texas

Andy B’s Entertainment to Build 45,000 SF Location at Rayzor Ranch Town Center in Denton

by Taylor Williams May 4, 2017

DENTON, TEXAS — Andy B’s Entertainment and Bowling Centers, a Missouri-based company that provides food, drink and games, has entered into an agreement to purchase land in north Texas on which to build a new 45,000-square-foot location. The new establishment will be located within Rayzor Ranch Town Center, a 600,000-square-foot retail development located at 2750 W. University Drive in Denton. Construction on the property, which will be the company’s fourth location under the Andy B’s brand and its 11th overall, is slated to begin late this year.

May 4, 2017

Restaurant Retail Texas

Salt Lick BBQ to Open 10,000 SF Restaurant in Grapevine

by Taylor Williams May 4, 2017

GRAPEVINE, TEXAS — Salt Lick BBQ will open a new location in the Dallas-Fort Worth metro of Grapevine in 2018. The new restaurant, which is situated on a 10-acre tract, will feature 10,000 square feet of indoor and outdoor dining space, as well as a specialty wine and beer bar. A general contractor has not yet been assigned to the project, construction of which is scheduled to begin this fall.

May 4, 2017

Loans New York Northeast Retail

CBRE Secures $68M Financing for Retail Center in Chappaqua, N.Y.

by Haisten Willis May 4, 2017

CHAPPAQUA, N.Y. — On behalf of a joint venture partnership between The Grossman Co. and Summit Development, CBRE has secured financing for a $68 million venture for Chappaqua Crossing, a soon-to-be-constructed retail center in Chappaqua. The 120,000-square-foot retail center will be anchored by a Whole Foods. CBRE’s Kyle Juszczyszyn, Chris Coutts, Lenny Pierce, Jeffrey Dunne and David Gavin procured the institutional joint venture equity partner in addition to securing construction financing of $44 million with M&T Bank. Along with Whole Foods, tenants will include Life Time Fitness, Pet Valu, Chase Bank, AT&T and GoHealth Urgent Care.

May 4, 2017

New York Northeast Retail

Stan Johnson Co. Arranges $10.8M Sale of Net Leased Bank of America Branch in NYC

by Haisten Willis May 4, 2017

NEW YORK CITY — Jason Maier of Stan Johnson Co. has arranged the $10.8 million sale of a 3,962-square-foot retail property net leased to Bank of America at 6601 18th Ave. in the Bensonhurst neighborhood of Brooklyn. A private buyer utilizing a 1031 tax-deferred exchange purchased the property at a 4.2 percent cap rate. This is the second time Jason Maier and his team have sold this property, having represented the original developer in 2013 when it sold for $8.8 million.

May 4, 2017

Kentucky Retail Southeast

Dahlem, Berkeley Capital Arrange $30.3M Sale of 600,000 SF Shopping Center in Kentucky

by John Nelson May 4, 2017

PAINTSVILLE, KY. — Louisville, Ky.- based Dahlem and partner Berkeley Capital Advisors have brokered the $30.3 million sale of Mayo Plaza, a 600,000-square-foot shopping center in Paintsville. The property’s tenant roster includes Lowe’s Home Improvement, Food City, Dollar Tree, Shoe Show and Big Sandy Superstore. Dahlem and Berkeley Capital represented the seller, the Homer & Mary Short Estate, in the transaction.

May 4, 2017

Features Retail Top Stories

M&M: Positive Economic Forces Buoy Net-Leased Retail Sector, Despite Rising Interest Rates

by Kristin Harlow May 4, 2017

Steady growth of the U.S. economy will likely continue through 2017, benefitting a wide range of single-tenant, net-lease retail concepts that will dominate the development pipeline over the coming year, according to Marcus & Millichap’s latest Net-Leased Retail Research Report. The report details three aspects of the U.S. economy that are proving to be positive forces for the net-leased retail sector: job growth, consumer sentiment and core retail sales. Job growth gains averaged 195,000 positions per month over the last year, and the unemployment rate has fallen to 4.7 percent, the lowest level since 2007. The report also references an annual increase in average hourly earnings of 2.8 percent. Consumer sentiment posted its highest level since 2000, with expectations also elevated. The U.S. consumer confidence index is 11.9 percent above the average reading since the survey began in 1967. Core retail sales, defined as aggregate sales excluding automobile and gasoline sales, vaulted 5.7 percent year-over-year in February. Lead growth categories within the retail sector include e-commerce, food and drink establishments and health and personal care stores. As For Rising Interest Rates The postelection surge of the 10-year Treasury yield, as well as the Federal Reserve’s decision to increase the federal funds …

May 4, 2017

Retail Texas

Crayola Experience to Open 60,000 SF Location at Shops at Willow Bend in Plano

by Taylor Williams May 3, 2017

PLANO, TEXAS — Crayola will open a new Crayola Experience family attraction at the Shops at Willow Bend, a mall located at 6121 W. Park Blvd. in Plano. The 60,000-square-foot concept, which will be situated between the food court and Macy’s, will feature a 5,000-square-foot Crayola Store. Crayola expects to hire about 200 part- and full-time employees during peak employment at the new store, which is the fourth of its kind. The opening is slated for 2018.

May 3, 2017

Florida Retail Southeast

Crossman Adds Toys “R” Us to Tenant Lineup at The LOOP in Central Florida

by John Nelson May 3, 2017

KISSIMMEE, FLA. — Crossman & Co. has added Toys “R” Us at The LOOP, an open-air shopping destination located at 3208 N. John Young Parkway in Kissimmee. Toys “R” Us will join The LOOP’s existing tenants including Kohl’s, Ross Dress for Less, Bed Bath & Beyond, Michaels, Petco, Old Navy, CVS/pharmacy, Famous Footwear, LensCrafters, T-Mobile, Kay Jewelers, Chili’s Bar & Grill, Chick-fil-A, Noodles & Co., Ben & Jerry’s, Chipotle Mexican Grill and Regal Stadium 16. Katherine Rush of Crossman & Co. represented the landlord in the lease transaction, and Steve Friedman of Strategic Retail Advisors represented Toys “R” Us. The new lease brings The LOOP’s occupancy rate to 96 percent. Toy “R” Us operates 879 Toys “R” Us and Babies “R” Us stores in the United States, Puerto Rico and Guam, as well as 810 international stores and 255 licensed stores in 37 countries and jurisdictions.

May 3, 2017

Newer Posts

Older Posts