Retail

InvenTrust Acquires Whole Foods-Anchored Center in Metro Charlotte for $31M

by John Nelson October 20, 2016

HUNTERSVILLE, N.C. — InvenTrust Properties Corp. has purchased Northcross Commons, a 61,000-square-foot, grocery-anchored shopping center in Huntersville, roughly 14 miles north of Charlotte. InvenTrust acquired the Whole Foods Market-anchored center from Hawthorne Retail Partners for approximately $31 million. Located at 9121 Sam Furr Road, Northcross Commons is situated adjacent to Birkdale Golf Community and Country Club and Birkdale Village, a retail development leased to tenants such as Banana Republic, Williams-Sonoma, Regal Cinemas, Talbots and Barnes & Noble. InvenTrust’s portfolio in metro Charlotte includes Poplin Place in Monroe and Sycamore Commons in Matthews.

October 20, 2016

Georgia Retail Southeast

SRS Arranges Sale of Grocery-Anchored Shopping Center in Georgia

by John Nelson October 20, 2016

CARTERSVILLE, GA. — SRS’ Southeast investment sales team in Atlanta has brokered the sale of Felton’s Crossing, a 112,240-square-foot shopping center located at 879 Joe Frank Harris Parkway in Cartersville. Situated near the southwest corner of the intersection of East Road and Felton Place, Felton’s Crossing is situated on a 10.9-acre parcel and in anchored by Ingles and Planet Fitness. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, Felton’s Associates LLC, in the transaction. The buyer, a private fund, purchased the property for an undisclosed price and was self-represented in the transaction.

October 20, 2016

Nevada Retail Western

TriStar Capital, RFR Holding Sell Miracle Mile Shops in Las Vegas

by Nellie Day October 19, 2016

LAS VEGAS — TriStar Capital and RFR Holding have sold Miracle Mile Shops, a 501,522-square-foot retail mall located at the Planet Hollywood Resort & Casino in Las Vegas. An affiliate of Institutional Mall Investors LLC, a venture co-owned by Miller Capital Advisory Inc. and CalPERS, acquired the asset for an undisclosed amount. Axis Theatre — home to residency performers Britney Spears and Jennifer Lopez — anchors the center, which is also home to more than a mile of 200 shops, 13 restaurants and three additional live entertainment theaters. The mall also features direct access to Planet Hollywood’s 100,000-square-foot casino. HFF advised the sellers in the transaction.

October 19, 2016

California Retail Western

Cole Haan Debuts New Design Concept at South Coast Plaza in Costa Mesa

by Nellie Day October 19, 2016

COSTA MESA, CALIF. — Cole Haan, an American lifestyle brand and retailer, has opened its newest flagship store at South Coast Plaza in Costa Mesa. South Coast Plaza marks the first West Coast location to open with the company’s new store design concept. Cole Haan LLC, with its global headquarters in Greenland, N.H., and creative center in New York City, is a lifestyle accessories brand and retailer of premium men’s, women’s and children’s footwear, handbags, leather accessories, outerwear and eyewear.

October 19, 2016

Mixed-Use Office Retail Texas

PlainsCapital Bank to Open New Office and Retail Location at The Star in Frisco

by Haisten Willis October 19, 2016

FRISCO, TEXAS — PlainsCapital Bank has leased a 5,083-square-foot office facility and a 4,000-square-foot retail space at The Star in Frisco. JLL’s Paul Whitman negotiated both leases on behalf of the tenant. Worthey Wiles of Lincoln Property Co. represented the landlord in the office transaction, and Robert Dozier, also of Lincoln, represented the landlord in the retail transaction. Founded in 1988, PlainsCapital Bank provides commercial banking, commercial lending, commercial real estate lending, treasury management, private banking, residential mortgages and trust and asset management services. The Dallas-based institution operates nine locations in the Dallas area.

October 19, 2016

Indiana Midwest Mixed-Use Multifamily Retail

Flaherty & Collins Properties Breaks Ground on $32M Mixed-Use Development in Kokomo, Indiana

by Amy Works October 19, 2016

KOKOMO, IND. — Flaherty & Collins Properties has broken ground on 306 Riverfront District, a $32 million mixed-use redevelopment of the former Apperson Brothers car factory and surrounding property into a luxury apartment community. Slated for completion in winter 2018, the property will feature 198 apartment units and 4,800 square feet of retail space. The residential units will feature granite countertops, pendant lights, programmable thermostats, nine-foot ceilings, 42-inch kitchen cabinets and high-efficiency washer and dryer units. The community will feature 6,800 square feet of amenities, including a heated pool with deck, courtyard with grilling stations, fire pit, outdoor kitchen and dining area, decorative lighting, club room with kitchen, fitness club, pet walk, e-lounge and bike storage areas. The Apperson Brothers factory was originally built in 1906 and housed the Apperson Automobile Co. until 1926. The property was then used as an industrial supply warehouse until it closed in 2007.

October 19, 2016

Indiana Midwest Office Retail

Bradley Co. Brokers Four Leases in Fort Wayne

by Amy Works October 19, 2016

FORT WAYNE, IND. — Bradley Co. has arranged four leases for office and retail space in Fort Wayne. Kelly Castle of Bradley Co. represented the tenant in each transaction. Levitate LLC leased 2,709 square feet of office space at 803 S. Calhoun St.; Deck Factory LLC inked a deal for retail space at 1509 Goshen Road; Mad Anthony Investments LLC leased 2,393 square feet of retail space at 2701-2703 Broadway; and RITS Ltd. Brokers signed a lease for retail space at 6127 Stellhorn Road within Maplewood Plaza. The names of the landlords were not released.

October 19, 2016

Nevada Retail Western

Edmond Town Center in Las Vegas Changes Hands for $5.5M

by Nellie Day October 18, 2016

LAS VEGAS — Devarim 18 LLC has acquired Edmond Town Center, a 21-acre shopping center in Las Vegas, for $5.5 million. The center is located at 921-1081 W. Owens Ave. Scot Prince and Neal Anzalotti of Logic Commercial Real Estate represented the buyer. CBRE’s Charles Moore and Marlene Fujita represented the seller.

October 18, 2016

Colorado Mixed-Use Office Retail Western

Mixed-Use Project in Colorado Sells for $1.3M

by Nellie Day October 18, 2016

PARKER, COLO. – An unnamed buyer has purchased a 6,406-square-foot mixed-use property in Parker for $1.3 million. The property is located at 18575 Stage Run Road. It consists of retail and office space. The new owner plans to relocate an existing hair salon to the center, as well as add a full-service spa. Construction is set to commence immediately for the new tenants. Mitch Trevey and Nick Nickerson of Trevey Land and Commercial represented the seller, Martinez Global International, in this transaction.

October 18, 2016

Massachusetts Northeast Retail

RK Centers Acquires Stop & Shop Ground Lease in Walpole, Massachusetts, for $6.3M

by Amy Works October 18, 2016

WALPOLE, MASS. — RK Centers has acquired a 12.5-acre ground lease of a Stop & Shop in Walpole for $6.3 million. Located at 565 Main St., the ground-lease property includes a freestanding 75,096-square-foot Stop & Shop grocery store. Constructed in 2002, the building also features an in-store Citizens Bank and the site has 398 parking spaces. Geoffrey Millerd and Justin Smith of NGKF Capital Markets represented the buyer in the deal. The name of the seller was not released.

October 18, 2016

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