Retail

East Cherokee Village Shoppes 6236 Holly Springs Parkway Woodstock

Transwestern Brokers $13M Sale of Publix-Anchored Center in Metro Atlanta

by John Nelson February 1, 2016

WOODSTOCK, GA. — Transwestern’s Southeast investment services group has arranged the $13 million sale of East Cherokee Village Shoppes, a Publix-anchored shopping center located at 6236 Holly Springs Parkway in Woodstock, a northern suburb of Atlanta. New Orleans-based PMAT Cos. acquired the 128,667-square-foot property for roughly $101 per square foot from a private seller. The asset was developed in 2003. Fred Victor and Kevin Markwordt of Transwestern represented the seller in the transaction.

February 1, 2016

Louisiana Market Reports Retail Southeast Southeast Market Reports

New Orleans’ Retail Market Continues to Thrive 10 Years After Hurricane Katrina

by John Nelson February 1, 2016

New Orleans recently celebrated a significant milestone: the 10-year anniversary of Hurricane Katrina making landfall. Those familiar with the area’s commercial real estate market agree that the city continues to thrive in and around the metro area. Despite a low vacancy rate and shortage of commercial opportunities in downtown proper, competition is fierce for quality properties, and new-to-market retailers have moved into the area. From the market downtown to the immediate suburbs and surrounding parishes, the Big Easy is well-positioned for continuous, steady growth. Sharing a border with New Orleans, Jefferson Parish is the most populous parish in the state. Veterans Memorial Boulevard is a six-lane thoroughfare in Jefferson Parish, which remains the primary retail development corridor in the market with the 120-store Lakeside Shopping Center. One of the most desirable spans of commercial real estate, the seven-mile stretch of highway runs from the airport to the intersection of Jefferson Parish and Orleans Parish. After scouring the market for several years, Trader Joe’s recently announced its first New Orleans metro area store in one of the last undeveloped tracts on Veterans Memorial Boulevard. Another grocery retailer, The Fresh Market, opened its first Jefferson Parish store in July. In addition, the …

February 1, 2016

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Negotiates $21.5M Sale of Two Properties in Manhattan

by Amy Works January 29, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of two properties located at 126-128 E. 13th St. and 123 E. 12th St. in Manhattan’s East Village neighborhood. Ultimate Realty sold the properties to an undisclosed buyer for a total of $21.5 million. The 15,600-square-foot property on 13th Street is currently leased by Peridance, a dance studio, until March 2028 with a five-year option, while the 4,804-square-foot property on 12th Street features ground-floor retail space and a three-bedroom duplex apartment with a private rooftop on the upper floor. James Nelson and Matthew Nickerson of Cushman & Wakefield represented the seller in the transaction.

January 29, 2016

New York Northeast Retail

Picone Construction Completes 12 Gates Brewing Co. Facility in New York

by Amy Works January 29, 2016

WILLIAMSVILLE, N.Y. — Picone Construction has completed the construction of 12 Gates Brewing Co. at 80 Earhart Drive in Williamsville. The brewery is designed as a production facility and tap room with light fare and snacks. Project work included select demolition, carpentry, millwork, concrete reinforcement and foundations, building insulation and metal roofing, door and frames, storefront, glass and glazing, drywall and acoustic, floor sealing, wall protection, signage, food service equipment, painting, plumbing, process piping systems, cooler installs, HVAC and electrical.

January 29, 2016

Restaurant Retail Texas

Grimaldi’s Pizzeria to Open in Hillside Village in Metro Dallas

by Haisten Willis January 29, 2016

CEDAR HILL, TEXAS — Grimaldi’s Pizzeria will open a 6,500-square-foot location at Hillside Village (formerly Uptown Village at Cedar Hill) in the summer of 2016. Grimaldi’s will be located in the former Patrizio’s space on the north side of the property. This fall, Hillside Village implemented a campaign to court a Grimaldi’s location in the development. More than 220 community members signed an on-property banner calling for Grimaldi’s and more than 600 expressed their support for a Grimaldi’s by posting comments and videos on social media using the hashtag #HVWantsGrimaldis. Hillside Village recently completed a multi-million dollar renovation at the property, which includes a new children’s play area, village green promenade, new property signage, new shaded seating areas, upgraded landscaping and lighting, public art and façade renovations. In April 2015, Trademark Property Co. rebranded the property Hillside Village.

January 29, 2016

Illinois Midwest Retail

Adelphia Properties Arranges $4.5M Sale of Net-Leased Property in Warrenville, Illinois

by Christina Cannon January 29, 2016

WARRENVILLE, ILL. — Adelphia Properties has arranged the $4.5 million sale of a net-leased retail property in Warrenville, a western suburb of Chicago. The Gardner School is occupying the 16,069-square-foot building located at 28W611 Ferry Road. The facility was built in 2013, and The Gardner School has a long-term lease in place. George Spirrison and Simeon Spirrison of Adelphia Properties represented both parties in the transaction. The buyer was a 1031 exchange investor.

January 29, 2016

Mississippi Retail Southeast

Stirling Properties Buys Power Retail Center in Hattiesburg for $48.1M

by John Nelson January 29, 2016

HATTIESBURG, MISS. — Stirling Properties has purchased Turtle Creek Crossing, a 295,000-square-foot power retail center in Hattiesburg, for $48.1 million. The shopping center is the largest retail acquisition by Stirling Properties in its 40-year history. Built in 2007, Turtle Creek Crossing is located on US Highway 98 adjacent to Turtle Creek Mall. The center’s anchor tenants include Ashley Furniture, Bed Bath & Beyond, Ross Dress for Less, Old Navy, Books-A-Million and PetSmart. The property is shadow-anchored by Academy Sports + Outdoors, Target and Kohl’s and shares a lighted intersection with Sam’s Club and Walmart Supercenter.

January 29, 2016

California Loans Retail Western

CBRE Arranges $65M Refinancing for The Village at Pacific Highlands Ranch in San Diego

by Nellie Day January 29, 2016

SAN DIEGO — CBRE has arranged a $65 million loan for the refinance of The Village at Pacific Highlands Ranch, a 147,716-square-foot shopping center located in the Pacific Highlands Ranch community of San Diego. Bill Chiles, Scott Peterson and Brian Cruz of CBRE secured the 11-year, fixed-rate loan. Tenants at the center include Trader Joe’s, Starbucks Coffee, Panera Bread, Crunch Fitness and Wells Fargo.

January 29, 2016

California Retail Western

Charles Dunn Co. Arranges $3.9M Sale of Chase Bank Building in Northridge

by Nellie Day January 29, 2016

NORTHRIDGE, CALIF. — Charles Dunn Co. has arranged the $3.9 million sale of a 6,000-square-foot, single-tenant, triple-net-leased property occupied by Chase Bank in Northridge. Kyle Gulock and Jason Cope of Charles Dunn Co. represented the seller, Balboa Plaza Investments LLC, in the sale of the property to RBS Investments LLC. The transaction closed at a capitalization rate of 4.7 percent.

January 29, 2016

Retail Texas

The Richland Cos. Acquires Retail Complex in Houston

by Haisten Willis January 28, 2016

HOUSTON — The Richland Cos. has acquired Lakes on Eldridge Centre in Houston. Located at 5630 N. Eldridge Parkway, the 30,049-square-foot retail center sits on 2.1 acres. Lakes on Eldridge Centre includes five entrances, two monument signs and is the only retail center located at the intersection. Tenants include the Dr. Shirazo dentist office, West Houston Animal Clinic, Professional Dry Cleaners, Tiny Treasures Child Care, Houston Faith Church, Edward Jones & Co. Financial Planning, 1st Community Credit Union, U Break I Phix, Rose’s Nails, Hair & Skin Care and several restaurants. The complex is 95 percent occupied. Richland will assume management responsibilities of the property.

January 28, 2016

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