Retail

May Realty Arranges $1.1M Sale of Property Net Leased to Starbucks in Franklin, Indiana

by Christina Cannon November 24, 2015

FRANKLIN, IND. — May Realty Advisors has arranged the $1.1 million sale of a freestanding building net leased to Starbucks in Franklin, approximately 25 miles south of Indianapolis. Thomas Levin, a private investor, purchased the building from Elias and Anthony Rantisi. The building, which was constructed in 2004 and spans 1,850 square feet, is located at 2279 N. Morton St., in a shopping center anchored by Lowe’s and Costco. Starbucks has signed a 10-year lease. Matthew May and Richard Huelsman of May Realty Advisors represented the buyer in the transaction. Frank Swiss of Swiss Company Real Estate represented the seller.

November 24, 2015

Maryland Retail Southeast

H&R Retail Arranges 42,000 SF Lease with Dave & Buster’s in Metro D.C.

by John Nelson November 24, 2015

SILVER SPRING, MD. — H&R Retail has arranged a 42,000-square-foot lease transaction with Dave & Buster’s at Ellsworth Place in downtown Silver Spring, roughly six miles north of Washington, D.C. The entertainment venue and restaurant was previously located at the former White Flint Mall in Bethesda, Md. David Ward and Sean Harcourt of H&R Retail represented the landlord, Petrie Ross Ventures, in the lease transaction.

November 24, 2015

California Retail Western

Cushman & Wakefield Arranges $10.2M Sale of Sun City Plaza in Menifee

by Nellie Day November 23, 2015

MENIFEE, CALIF. — Cushman & Wakefield has brokered the sale of Sun City Plaza, a retail center located at 26100 Newport Road in Menifee, a southwestern suburb of Los Angeles, for $10.2 million. The seller, a developer, recently repositioned the former Alberston’s into a multi-tenant property. New tenants include 99 Cents Only, Fitness 19 and True Value. Dixie Walker, Charley Simpson, Tom Blake and Andrew Milne of Cushman & Wakefield brokered the transaction. The name of the buyer was not released.

November 23, 2015

California Loans Retail Western

Grandbridge Closes $14M Loan for Retail Property in Laguna Hills

by Nellie Day November 23, 2015

LAGUNA HILLS, CALIF. — Grandbridge Real Estate Capital has closed a $14 million loan for a 79,760-square-foot retail property in Laguna Hills. Funded by BB&T Real Estate, the permanent, fixed-rate, non-recourse loan features a seven-year term with a 30-year amortization schedule and a 3.67 percent interest rate. Tom Kenny, Rowin Jacobs, Josh Boehling, Steve Griffin, Thomas Turnage and Mark Durfee of Grandbridge’s Newport Beach, Calif., office secured the financing for the undisclosed borrower.

November 23, 2015

California Retail Western

Hanley Investment Group Negotiates $1.2M Sale of Tustin Retail Building

by Nellie Day November 23, 2015

TUSTIN, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a retail building located at 14191 Newport Ave. in Tustin, a southeastern suburb of Los Angeles. The 2,900-square-foot property sold for $1.2 million, representing a capitalization rate of 4.17 percent. The two-tenant building is situated on one-third of an acre near the intersection of McFadden and Newport avenues. Eric Vu and Jeff Hauber of Hanley Investment Group represented the seller, a private investor based in Southern California. The name of the buyer was not released.

November 23, 2015

Mixed-Use Multifamily New York Northeast Retail

LCOR Breaks Ground for 55 Bank Street in White Plains

by Amy Works November 23, 2015

WHITE PLAINS, N.Y. — LCOR has broken ground for 55 Bank Street, a mixed-use development in White Plains. The $250 million, 760,000-square-foot transit-oriented development will offer residential and retail space. The first phase of the project will include a 16-sory, 288-unit residential building with 3,000 square feet of ground-floor retail space and 381 parking spaces. Phase II will consist of a 16-story building with 273 homes, 3,350 square feet of retail space and 189 parking spaces. Twenty percent of the 561 residential units will be workforce designated housing. The project is located adjacent to the Metro-North White Plains Railroad Station, which offers express service into Grand Central Station in New York City.

November 23, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

Hudson Cos. Acquires Williamsburg Development Site for Residential, Retail Project

by Amy Works November 23, 2015

NEW YORK CITY — New York City-based Hudson Cos. has acquired a development site at 94 N. Third St. in Brooklyn’s Williamsburg neighborhood for the development of a residential and retail project. The seven-story building will feature 75 studio, one- and two-bedroom rental units and 15,000 square feet of ground-level retail space. Additionally, 20 percent of the apartments will be reserved for affordable housing for low-income households. On-site amenities will include doorman and concierge service, a gym, tenant lounge, underground parking, bike storage and tenant storage. Tenants will also have access to landscaped courtyards and roof terraces equipped with gas grills and tables for dining. Marvel Architects is serving as architect for the project, which is slated to begin construction soon. Hudson Cos. received a $6.5 million bridge loan from W Financial to acquire the site.

November 23, 2015

Mixed-Use Multifamily Retail Texas

Southern Land Co. Sells Junction 15 in Plano to Clarion Partners

by Haisten Willis November 23, 2015

PLANO, TEXAS — Southern Land Co. has sold the five-story urban development known as Junction 15 to a commingled fund managed by New-York based real estate investment firm Clarion Partners. Junction 15, which opened in 2014 in downtown Plano, is a public-private partnership between Southern Land Co. and the city of Plano. The mixed-use development includes 7,700 square feet of retail space anchored by a 7-Eleven and 279 apartments. The development is close to Plano’s Old Town Square and Haggard Park, as well as several restaurants. Amenities include a pool, outdoor grilling stations and fitness center. Junction 15 is also located across the street from a Dallas Area Rapid Transit (DART) station.

November 23, 2015

Shops at Dakota Crossing Washington, D.C.

District of Columbia Retail Southeast

Three National Retailers Sign Leases at Shops at Dakota Crossing in D.C.

by John Nelson November 23, 2015

WASHINGTON, D.C. — Three national retailers have signed leases for space at Shops at Dakota Crossing, a 430,000-square-foot, Class A retail center under construction in Washington, D.C.’s Fort Lincoln neighborhood. Dick’s Sporting Goods, PetSmart and an unnamed national retailer signed long-term leases to occupy a combined 85,500 square feet at the center, which is currently anchored by Costco and Lowe’s Home Improvement. This will be the first Dick’s Sporting Goods in Washington, D.C. Construction on the final phases of Shops at Dakota Crossing has started with a scheduled completion date in the fourth quarter of 2016. Following the lease deals, the retail center is more than 87 percent leased. Lisa Stoddard and Kristen Braun of CBRE are the leasing agents for Shops at Dakota Crossing on behalf of the developers, Trammell Crow Co., Fort Lincoln New Town Corp. and CSG Urban Partners.

November 23, 2015

Retail South Carolina Southeast

The Boulder Group Brokers $5M Sale of Walgreens in North Myrtle Beach

by John Nelson November 23, 2015

NORTH MYRTLE BEACH, S.C. — The Boulder Group has arranged the $5 million sale of a single-tenant property net leased to Walgreens at 4300 Highway 17 South in North Myrtle Beach. Walgreens has operated at the store, located at the intersection of Highway 17 and Windy Hill Road, since 2002 and has seven years remaining on its lease agreement. Randy Blankstein and John Feeney of The Boulder Group represented the buyer, a Midwest-based private investor, in the 1031 transaction. The seller was a private investor based in California.

November 23, 2015

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