Retail

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

Midwest Ohio Retail

Marcus & Millichap Brokers $17.1M Sale of Net Leased Property Near Cleveland

by Christina Cannon November 23, 2015

MAYFIELD HEIGHTS, OHIO — Marcus & Millichap has arranged the $17.1 million sale of a retail building triple-net leased to Walmart in Mayfield Heights, located about 20 miles east of Cleveland. Walmart has seven years remaining on its 20-year lease at the building constructed in 2002. Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap represented the seller, a Cleveland-based investor. The trio also procured the buyer, a Midwest-based investor in a 1031 exchange.

November 23, 2015

California Loans Retail Western

Quantum Capital Arranges $10.5M Loan for Beverly Hills Retail Building

by Nellie Day November 20, 2015

BEVERLY HILLS, CALIF. — Quantum Capital Partners has arranged $10.5 million in long-term, fixed-rate financing to recapitalize a retail building located in Beverly Hills’ Golden Triangle. Located at 9650 Bedford Drive, the property offers 15,000 square feet of restaurant and retail space. The building is fully leased to Crustacean Restaurant (House of An) and Maxferd Jewelry of Beverly Hills. Jonathan Hakakha and Mike Yim of Quantum Capital arranged the financing. The 10-year CMBS loan closed at a 4.32 percent interest rate and was structured to include five years of interest-only payments.

November 20, 2015

California Retail Western

Avison Young Brokers Sale of Seven-Acre Parcel in Claremont for Car Dealership

by Nellie Day November 20, 2015

CLAREMONT, CALIF. — Avison Young has brokered the sale of a seven-acre site located at 620 Auto Center Drive in Claremont. Brandywine Homes sold the property to New Orleans, La.-based Premier Automotive Group for an undisclosed price. The buyer plans to develop a Chrysler, Dodge, Jeep and Ram auto dealership on the site. Situated within the Claremont Auto Center, the site has been vacant for more than decade. Jodi Meade of Avison Young represented the seller and the buyer in the transaction.

November 20, 2015

Satilla Square Waycross Dollar General Market Big Lots

Georgia Retail Southeast

SRS Brokers $4.3M Sale of Shopping Center in South Georgia

by John Nelson November 20, 2015

WAYCROSS, GA. — SRS’ Southeast investment sales team has brokered the $4.3 million sale of Satilla Square, a 117,212-square-foot shopping center in Waycross. The property is located at 1803 Knight Ave. at the intersection of Knight Avenue and South City Boulevard. Dollar General Market and Big Lots anchor the center. Baer Asset Management Co. purchased the property from Satilla Square LLC, Henderson Satilla LLC and Satilla Land LLC. Kyle Stonis and Pierce Mayson of SRS represented the sellers in the transaction. The buyer didn’t have representation.

November 20, 2015

Retail Texas

Victoria Real Group Purchases Heartland Mall in Central Texas

by Haisten Willis November 20, 2015

EARLY, TEXAS — The Heartland Mall in Early has been sold to Victoria Retail Group LLC, according to the Brownwood Bulletin. The sale to the retail group, headquartered in Austin, was finalized last Wednesday, according to founding partner Todd Routh. The sale was made through Coldwell Banker Mark Campbell & Associates. Routh plans to renovate the 215,000-square-foot mall and add additional tenants. Work is expected to begin next week. Victoria Retail Group owns more than 55 malls and shopping centers in Texas. Opened in 1980, Heartland Mall is located at 300 Early Blvd. and sits on close to 24 acres with tenants including JC Penny, Hibbett Sports and Bath & Body Works, along with Regal Cinemas Heartland 8. Restaurants include Chick-fil-A and Corn Dog 7. The Retail Coach is handling leasing assignments for the property.

November 20, 2015

Midwest Ohio Retail

Marcus & Millichap Brokers $1.3M Sale of Net-Leased Retail Property in Urbana, Ohio

by Christina Cannon November 20, 2015

URBANA, OHIO — Marcus & Millichap has brokered the $1.3 million sale of a net-leased retail property in Urbana, approximately 40 miles northeast of Dayton. The 9,000-square-foot building, located at 1620 E. U.S. Highway 36, is leased by Dollar Tree, which recently signed a 10-year lease. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap listed the property on behalf of the seller, an Indiana-based developer. The trio, along with Dustin Javitch of Marcus & Millichap, also procured and represented the buyer, a California-based investor.

November 20, 2015

Indiana Midwest New York Northeast Retail

Stan Johnson Co. Brokers Sale of Two Grocery Stores Totaling $15.3M

by Amy Works November 20, 2015

LOCKPORT, N.Y., AND KOKOMO, IND. — Stan Johnson Co. has arranged the sale of two grocery stores located in Lockport and Kokomo for a combined $15.3 million. Bluejay Management LLC acquired the 55,000-square-foot Tops Markets at 3945 Lockport-Olcott Road in Lockport and the 55,264-square-foot Marsh Supermarket at 208 E. Southway Blvd. in Kokomo. Josh Pardue of Stan Johnson Co. represented the seller, Fields Realty, in the transaction.

November 20, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

Silver Arch Capital Partners Closes $8M Loan for Mixed-Use Properties in NYC

by Amy Works November 20, 2015

NEW YORK CITY — Silver Arch Capital Partners, a private lender, has closed an $8 million first mortgage loan secured by two mixed-use properties in New York City. The borrowers, Mooney House LLC and 127 Mott Street LLC, will use the loan proceeds to pay off an existing mortgage, renovate the properties and fund reserves and closing costs. The properties are 18 Bowery/1-7 Pell St., which features four residential apartments and two ground-level commercial spaces in two buildings; and 127 Mott St., which consists of 12 residential units and one commercial space in two buildings. Both properties were acquired in 2014 and have undergone more than $375,000 in capital improvements. Additionally, each property has more than 6,000 square feet of excess development rights.

November 20, 2015

Arizona Retail Western

Lee & Associates Arranges Sale of Two Arizona Shopping Centers for $16.4M

by Nellie Day November 19, 2015

GLENDALE AND TEMPE, ARIZ. — Lee & Associates has arranged the sale of two Arizona shopping centers for a combined $16.4 million. Properties include 51st & Olive Square, an 88,225-square-foot shopping center located in Glendale; and Playa Del Norte, an 11,499-square-foot shopping center located in Tempe. Patrick Dempsey and Jan Fincham of Lee & Associates worked on behalf of both the buyer, 51st & Olive Station LLC, and the undisclosed seller in the 51st & Olive Square transaction. Dempsey, Fincham, Chris McClurg and Matt Frederick of Lee & Associates co-listed and secured the buyer, Crow Holdings Capital Real Estate, in the Playa Del Norte transaction.

November 19, 2015

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