Retail

Marcus & Millichap Brokers $80.75M Sale of Manhattan Mixed-Use Portfolio

by Amy Works December 11, 2014

NEW YORK CITY — Marcus & Millichap has brokered the sale of an Upper West Side portfolio, a six-building mixed-use portfolio located in Manhattan’s Upper West Side. The portfolio features 152 multifamily units, 7,900 square feet of retail space and 62,655 square feet of air rights for future development. A private investor acquired the portfolio for $80.75 million, or approximately $515,000 per unit. The properties are 500 Cathedral Parkway, 3143 Broadway, 3147 Broadway, 3149 Broadway, 111 West 104th St. and 242 West 109th St. This is the first time the properties have changed hands in 30 years. Marco Lala of Marcus & Millichap’s Manhattan office represented the seller and buyer, both private investors, in the transaction.

December 11, 2014

Florida Retail Southeast

Crossman & Co. Brokers $24.8M Sale of Publix-Anchored Shopping Center in Metro Orlando

by John Nelson December 11, 2014

WINTER PARK, FLA. — Crossman & Co. has brokered the $24.8 million sale of Hollieanna and Oakley Center, a Publix-anchored shopping center in Winter Park, a suburb of Orlando. The 102,000-square-foot center was 98 percent leased at the time of sale to tenants such as Tuesday Morning, AAA, Moe’s Southwest Grill, T-Mobile and Sherwin Williams. Mark Thompson and Leah Harrington of Crossman & Co. represented the seller, a family in Indiana who had owned the center since its original construction in 1953. The property was redeveloped in 2011.

December 11, 2014

California Retail Western

Crunch Fitness & UFC Leases Space in Rancho Cucamonga

by Nellie Day December 11, 2014

RANCHO CUCAMONGA, CALIF. – Crunch Fitness & UFC has leased 25,015 square feet of space in Rancho Cucamonga. The space is located at 12739 Foothill Blvd. The lease is valued at $3.2 million. Vicky Espinosa, Fred Encinas and Lidia Talavera of NAI Global represented both Crunch Fitness and the landlord, THM Enterprises LLC, in this transaction.

December 11, 2014

New Jersey Northeast Office Retail

CBRE Group Arranges $8.4M Sale of New Jersey Office/Retail Property

by Amy Works December 10, 2014

PASSAIC, N.J. — CBRE Group Inc. has arranged the sale of an office and retail property located at 615-625 Main Ave. in Passaic. The 65,000-square-foot building sold for $8.4 million. The building, which includes a two-story parking garage, underwent a $5 million capital improvements program in 2007. Current tenants include Valley National Bank, which has been in the location for more than 40 years. Charles Berger and Elli Klapper of CBRE Tri-State Investments Properties represented the seller and procured the buyer, a long-time CBRE client, in the deal.

December 10, 2014

Retail Texas

M&M Arranges Sale of Retail Property in Houston

by Haisten Willis December 10, 2014

HOUSTON — Marcus & Millichap has arranged the sale of Market Square, a 9,567-square-foot retail property located in Houston. Justin Miller, Jerry Goldstein and Derek Hargrove of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Market Square is located at 56 FM 1960 Road West in Houston.

December 10, 2014

Loans New York Northeast Retail

Houlihan-Parnes Realtors Arranges $1.6 M in Refinancing for Retail Building

by Amy Works December 10, 2014

MAMARONECK, N.Y. — Houlihan-Parnes Realtors LLC has arranged $1.6 million in refinancing for a retail property located at 426-438 Mamaroneck Ave. in Mamaroneck. The one-story building offers 10,250 square feet of retail space. The five-year, non-recourse loan features a 3.75 percent fixed rate with a 30-year amortization schedule. Additionally, the loan, which was closed with a local bank, features a five-year extension option. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the undisclosed borrower.

December 10, 2014

Midwest Office Retail Wisconsin

The Morgan Partners Arranges Sale of 8,000 SF Bank Property in Neenah, Wis.

by Danielle Everson December 10, 2014

NEENAH, WIS. — The Morgan Partners LLC has arranged the $760,000 sale of an 8,000-square-foot bank property in Neenah. CitizensFirst Credit Union of Oshkosh purchased the property located at 640 S. Green Bay Road. The buyer intends on renovating the building and opening to the public in spring 2015. Ed Bowen and Nicholas Lang of The Morgan Partners represented the buyer. Joe Kleiman and Dan Rosenfeld of Mid-America Real Estate-Wisconsin represented the seller, a regional bank.

December 10, 2014

Arizona Retail Western

Ocotillo Fiesta Shopping Center in Chandler Trades Hands

by Nellie Day December 9, 2014

CHANDLER, ARIZ. – The 40,952-square-foot Ocotillo Fiesta Shopping Center in Chandler has sold to Ocotillo Fiesta LLC for an undisclosed sum. The center is located at the southeast corner of Alma School and Queen Creek roads. It is shadow-anchored by Albertsons. The center is currently 97 percent leased. The landlord, Southgate Mall Associates, was represented by Mindy Korth and Kirk Kuller of Colliers International.

December 9, 2014

California Retail Western

Smashburger Opens Two New Restaurants in the Bay Area

by Nellie Day December 9, 2014

SAN FRANCISCO – Smashburger has opened two new restaurants in the San Francisco Bay Area. The outposts are located at 1151 40th Street in Emeryville and 925 Blossom Hill Road, within the Westfield Oakridge shopping center in San Jose. Smashburger also recently opened stores at the Rivermark Village in Santa Clara and at Cherry Orchard Shopping Center in Sunnyvale. The quick-service restaurant was represented by Laura Tinetti of SRS Real Estate Partners. Federal Realty Investment Trust, the Emeryville landlord, was represented by AJ Schrader of Retail West. Westfield, the San Jose landlord, was represented by Daryn Gallaway of Westfield LLC.

December 9, 2014

New York Northeast Retail

DLC Management Corp. Acquires 2.58M SF Retail Portfolio

by Amy Works December 9, 2014

TARRYTOWN, N.Y. — DLC Management Corp. has acquired an 11-asset retail portfolio totaling 2.58 million square feet. The properties are located in New York, North Carolina, Arkansas and Tennessee. The acquisition is the largest in DLC’s history and the properties match well with the company’s operations and represent large, high-quality assets with strong anchor tenants. Additionally, the portfolio offers value-add opportunities through property stabilization. The portfolio includes: 2015 Walden Ave. (26,500 square feet), Union Consumer Square (386,320 square feet), Walden Consumer Square (253,225 square feet) and Walden Place (68,002 square feet) in Cheektowaga, N.Y.; Batavia Commons (49,431 square feet) and BJ’s Plaza (95,846 square feet) in Batavia, N.Y.; Premiere Place (414,639 square feet) in Williamsville, N.Y.; River Hills (315,234 square feet) in Asheville, N.C.; Spring Creek (588,606 square feet) and Steele Crossing (261,665 square feet) in Fayetteville, Ark.; Towne Center (390,607 square feet) in Murfreesboro, Tenn. Additional terms of the transaction were not released.

December 9, 2014

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