Retail

Quantum Brokers Sale of 57,499 SF Shopping Center in Orland Park, Ill.

by Danielle Everson January 14, 2015

ORLAND PARK, ILL. — Quantum Real Estate Advisors Inc. has brokered the $5.4 million sale of a 57,499-square-foot shopping center. Marley Creek Square is located at 18000-18092 Wolf Road in Orland Park. The center consists of three buildings — a 27,550-square-foot building inline with Jewel-Osco and anchored by Chase Bank; a 24,461-square-foot building anchored by Barraco’s restaurant; and a 5,488-square-foot outlot building anchored by Starbucks and Jimmy Johns. A local real estate operator sold the property to a Rolling Meadows, Ill.-based private real estate investor. Chad Firsel and Conor Bossy of Quantum represented the seller in the transaction.

January 14, 2015

Midwest Missouri Retail

PPM/Keller Plaza acquires Keller Plaza Shopping Center

by Danielle Everson January 14, 2015

ST. LOUIS — PPM/Keller Plaza LLC has acquired a retail center in St. Louis for $3.7 million. Keller Plaza includes a 52,842-square-foot shopping center and 11,034 square feet of ground leases. The property is located at 4500 Lemay Ferry Road. PPM acquired the property from Phillips Edison & Co. Jack in the Box, Firestone, Jiffy Lube and the Keller Plaza Cine 8 theaters anchor the property. There is a total of 1,020 square feet of in-line vacancy.

January 14, 2015

Retail Texas

M&M Arranges Sale of 6,450 SF Property in Rio Grande Valley

by Haisten Willis January 14, 2015

BROWNSVILLE, TEXAS — Marcus & Millichap has arranged the sale of United Rentals, a 6,450-square-foot net-leased property located in Brownsville. Geoff Ficke and Chris Adams of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a developer. Dominic Sulo and Matthew Wenger of the firm’s Chicago Oak Brook office procured the buyer, a private investor. United Rentals is located at the intersection of Old Port Isabel Road and East Ruben M. Torres Sr. Boulevard. Built in 2009, the property is situated on 1.9 acres and was originally occupied by RSC Equipment Rental. United Rentals assumed the property after the company’s acquisition of RSC in 2012. Founded in 1997, United Rentals operates more than 880 rental locations in 49 states and 10 Canadian provinces.

January 14, 2015

North Carolina Retail Southeast

SRS Real Estate Partners Brokers $6.2M Sale of Shopping Center in North Carolina

by John Nelson January 14, 2015

EDEN, N.C. — SRS Real Estate Partners has brokered the $6.2 million sale of Meadow Greens, a 136,927-square-foot grocery-anchored shopping center in Eden. The property is located at 640 S. Van Buren Road at the southeast corner of West Kings Highway and South Van Buren Road. The shopping center’s tenant roster includes Save-A-Lot, Hibbett Sports, Aaron’s and It’s Fashion Metro. RCG Ventures sold Meadow Greens to EH Scott LLC. Kyle Stonis and Pierce Mayson of the SRS Atlanta office represented the seller in the transaction. Scott Ross of Coastal Equities represented the buyer.

January 14, 2015

Kentucky Loans Retail Southeast

A10 Capital Funds $4.3M Acquisition Loan for REO Retail Property in Louisville

by John Nelson January 14, 2015

LOUISVILLE, KY. — A10 Capital has funded a $4.3 million bridge loan for the acquisition of the Shoppes at Forest Green, an unanchored shopping center located at 10001 Forest Green Blvd. in Louisville. The loan is secured by the real estate-owned (REO) property and provided approximately 70 percent leverage. Michael Singh of A10 Capital structured the non-recourse loan on behalf of the borrower, BRAD Management. The loan will be used to fund the acquisition, as well as provide committed funds for a future tenant improvement facility.

January 14, 2015

Loans Midwest Minnesota Mixed-Use Office Retail

NorthMarq Secures $18.4M Loan for Marquee Place in Wayzata, Minn.

by Danielle Everson January 13, 2015

WAYZATA, MINN. — NorthMarq Capital has arranged the $18.4 million refinancing of Marquee Place, a 72,000-square-foot retail/office property Wayzata, a suburb 11 miles west of Minneapolis. The property is located at 641-681 Lake St. E. The mixed-use property features unobstructed lake views. The 12-year loan incudes a 25-year amortization schedule. NorthMarq arranged financing for the undisclosed borrower through its correspondent relationship with a life insurance company.

January 13, 2015

Indiana Midwest Retail

STREAM Capital Partners Arranges $6.9M Sale of Bass Pro Property

by Danielle Everson January 13, 2015

PORTAGE, IND. — STREAM Capital Partners has arranged the $6.9 million sale of a 135,000-square-foot retail building in Portage. The property is located at 6425 Daniel Burnham Drive and is under a long-term lease to Bass Pro Shops. A private owner/developer sold the property to the buyer, a public REIT. Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners represented the seller. STREAM Capital Partners is a boutique net lease and sale-leaseback advisory group.

January 13, 2015

Alabama Retail Southeast

GBT Realty Corp. to Develop $18M Shopping Center in Alabama

by John Nelson January 13, 2015

ALBERTVILLE, ALA. — GBT Realty Corp. will soon begin developing The Shoppes of Albertville, an $18 million, 135,000-square-foot retail center located on a 13.2-acre tract of land in Albertville. The property is currently 92 percent pre-leased to tenants such as PetSmart, T.J. Maxx, Hobby Lobby, Ross Dress for Less and Hibbett Sports. GBT Realty expects to deliver the property in spring 2016. GBT entered into a development agreement with the city of Albertville whereby the city agreed to sell bonds to provide $5 million of funding to offset pre-development and development costs. Upon completion, a portion of the sales tax generated at the shopping center will pay off the bonds.

January 13, 2015

Alabama Restaurant Retail Southeast

STREAM Capital Partners Brokers $23.3M Sale-Leaseback of KFC Portfolio in Alabama

by John Nelson January 13, 2015

CHICAGO — STREAM Capital Partners, a sale-leaseback advisory group based in Chicago, has brokered the $23.3 million sale-leaseback of 18 KFC restaurants in Alabama. The locations are all under long-term triple-net leases to a KFC franchisee. Adam English, Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners advised the undisclosed seller in the transaction. The buyer was a public REIT.

January 13, 2015

Nevada Retail Western

Craig Valley Plaza in Las Vegas Sells for $8.2M

by Nellie Day January 13, 2015

LAS VEGAS – Craig Valley Plaza, a 73,455-square-foot retail center in Las Vegas, has sold to Marker Craig LLC for $8.2 million. The plaza is located at 4180-4280 W. Craig Road. Jeff Chain of Millennium Commercial Properties represented the buyer. The seller, Omninet Craig LLC, was represented by CBRE’s Charles Moore, Marlene Fujita Winkel and Ashley Kolaczynski.

January 13, 2015

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