Retail

Cooper Commercial Brokers $4.3M Sale of Retail Property in Huntley, Illinois

by Christina Cannon June 8, 2016

HUNTLEY, ILL. — The Cooper Commercial Investment Group has brokered the sale of a 14,366-square-foot retail property in Huntley, approximately 50 miles northwest of Chicago, for $4.3 million. Huntley Grove, built in 2008, is 93 percent occupied by tenants such as AT&T, The UPS Store, Sprint, Tropical Smoothie, Great Clips and ATI Physical Therapy. Dan Cooper of Cooper Commercial represented the seller, an Ohio-based private investment group, in the transaction. Cooper Commercial also secured the Pennsylvania-based buyer.

June 8, 2016

Illinois Midwest Restaurant Retail

Novak Construction Completes Renovation for Panera Bread in Downers Grove, Illinois

by Christina Cannon June 8, 2016

DOWNERS GROVE, ILL. — Novak Construction has finished remodeling a 5,000-square-foot Panera Bread restaurant in Downers Grove, approximately 25 miles west of Chicago. Interior renovations included demolition, new millwork, fabric panels and wall coverings, new ceilings, light fixtures, specialty artwork installations, flooring, bathrooms and kitchen line equipment. Exterior renovations included new signage, metal canopies, ornamental and decorative façade elements and outdoor seating with an overhead trellis.

June 8, 2016

California Retail Western

CBRE Arranges $15.3M Sale of the Terrace Shopping Center in Newbury Park

by Nellie Day June 7, 2016

NEWBURY PARK, CALIF. — CBRE has arranged the $15.3 million sale of the Terrace, a two-level, 39,634-square-foot shopping center located in Newbury Park. Tenants at the fully occupied property include Orangetheory Fitness, Hot Yoga 1000, Road Runner Sports and Bottle and Pint. Philip Voorhees, Jimmy Slusher, Megan Wood, Matt Burson, Todd Goodman, John Read and Preston Fetrow of CBRE represented the seller, a Los Angeles-based private investor, in the transaction. A Los Angeles-based private investor partnership acquired The Terrace with funds from the refinancing on a long-held multifamily property in the nearby San Fernando Valley.

June 7, 2016

Illinois Midwest Retail

Cushman & Wakefield Brokers $53.2M Sale of Retail Property in Chicago

by Christina Cannon June 7, 2016

CHICAGO — Cushman & Wakefield has brokered the $53.2 million sale of a 33,597-square-foot retail property in Chicago’s Gold Coast neighborhood. The Ohio State Teachers Retirement System acquired the fully leased property, which is located at 1100 N. State St. Urban Outfitters occupies 19,007 square feet at the four-story building, and Maple & Ash leases the remaining space. Cushman & Wakefield represented the seller, Eleven Hundred LLC, in the transaction. Michael Marks and Trisha Connolly of Cushman & Wakefield also provided financial advisory services.

June 7, 2016

Illinois Midwest Restaurant Retail

Novak Construction Completes 15,000 SF Portillo’s Restaurant in Downtown Chicago

by Christina Cannon June 7, 2016

CHICAGO — Novak Construction has completed work on a 15,000-square-foot restaurant in downtown Chicago. Portillo’s is a two-story eatery offering Italian beef, hot dogs and cake among other menu items. The project is the second Portillo’s location in downtown Chicago. The building features two patios, a drive-thru, an elevator and a vintage car on display.

June 7, 2016

Connecticut Loans Mixed-Use Northeast Office Retail

Cornerstone Realty Negotiates $2.9M Acquisition Loan for Mixed-Use Property in Connecticut

by Amy Works June 7, 2016

MIDDLETOWN, CONN. — Cornerstone Realty Capital has arranged $2.9 million in financing for the acquisition of a mixed-use property in Middletown. The office and retail property consists of five buildings totaling 47,250 square feet. Additionally, the property features 104 parking spaces. The name of the borrower was not released.

June 7, 2016

Alabama Retail Southeast

GBT Realty Completes Hobby Lobby-Anchored Retail Center in Alabama

by John Nelson June 7, 2016

ALBERTVILLE, ALA. — GBT Realty Corp. has completed the construction of The Shoppes of Albertville, a 135,000-square-foot shopping center located at the intersection of Carlisle Street and U.S. Highway 431 in Albertville. The $18 million property’s tenant roster includes Hobby Lobby, PetSmart, T.J. Maxx, Ross Dress for Less, Rack Room Shoes, Hibbett Sports, Kay Jewelers, Lee Nails and Marco’s Pizza. GBT Realty purchased the land for the shopping back in December 2014. The Brentwood, Tenn.-based developer is under contract on an 8-acre site across U.S. Highway 431 from The Shoppes of Albertville with plans to develop a new shopping center by 2018 known as Albertville Commons.

June 7, 2016

Georgia Retail Southeast

Franklin Street Arranges $3M Sale of Big Lots-Anchored Shopping Center Near Chattanooga

by John Nelson June 7, 2016

FORT OGLETHORPE, GA. — Franklin Street has brokered the $3 million sale of Cloud Springs Plaza, a 113,000-square-foot, Big Lots-anchored shopping center located at 1503 Lafayette Road in Fort Oglethorpe, roughly seven miles outside of Chattanooga. Built in 1968, the center’s other tenants include Badcock Furniture and AutoZone. John Tennant and Bryan Belk of Franklin Street represented the seller, Cloud Springs ACD LLC, in the transaction. The buyer, America’s Realty LLC, is a private investment group based in Baltimore.

June 7, 2016

California Retail Western

Agree Realty Corp. Acquires 11-Property Retail Portfolio for $79.5M

by Nellie Day June 6, 2016

LOS ANGELES — Michigan-based Agree Realty Corp. has acquired a portfolio of 11 retail net lease properties from an undisclosed seller for $79.5 million. The portfolio consists of properties net leased to national and super-regional retailers, including Orchard Supply Hardware, Hobby Lobby, Smart & Final, Walmart Neighborhood Market, Big Lots and Ross Dress for Less. Nearly 40 percent of the portfolio’s net operating income is derived from investment-grade tenants operating in e-commerce resistant sectors, including home improvement, grocery, discount apparel, craft and novelty, and specialty retail. More than 50 percent of the portfolio’s net operating income is attributable to properties near the Los Angeles and San Francisco markets and an additional 30 percent of the portfolio’s net operating income is derived from properties near to the Seattle, Denver, Austin and Orlando markets. Additionally, the portfolio has a weighted-average remaining lease term of 11.4 years.

June 6, 2016

California Retail Western

Hanley Investment Group Arranges $8.6M Sale of Target-Anchored Shopping Center

by Nellie Day June 6, 2016

SAN BERNARDINO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $8.6 million sale of Seven Trees Shopping Center, a 150,338-square-foot, Target-anchored shopping center located in San Bernardino. Ed Hanley and Kevin Fryman of Hanley represented the buyer, Westland Real Estate Group, and the seller, a Los Angeles-based private investor, in the transaction. The property was 85 percent leased at the time of sale to tenants including Baskin Robbins, County of San Bernardino, Payless ShoeSource, Sally Beauty Supply and Waba Grill.

June 6, 2016

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