Retail

True Food Kitchen Signs Lease at Seaholm Residences in Austin

by Haisten Willis October 9, 2014

AUSTIN — True Food Kitchen restaurant has signed a 7,000-square-foot lease on the ground floor of the Seaholm Residences, a 30-story condo residential tower under construction as part of the Seaholm Power Plant development in Austin. The project developers include CIM Group and Seaholm Power LLC. True Food Kitchen is a restaurant developed through a partnership between Fox Restaurant Concepts and Dr. Andrew Weil, an author on holistic health. Its lead chef is Arik Markus and the restaurant is expected to open in 2015. The Seaholm Power Plant project is the redevelopment of a 1950s power plant. When finished, the project will include 11,000 square feet of restaurant space and 3,500 square feet of public space. Construction began in April 2013 and is expected to be complete in the second quarter of 2015. The project is located on the southwestern edge of downtown Austin, bounded by Cesar Chavez Street, West Avenue, 3rd Street, Seaholm Drive and the A&NW rail line.

October 9, 2014

Michigan Midwest Retail

Friedman Brokers Sale of 17,873 SF Retail Center in Farmington Hills, Mich.

by Danielle Everson October 9, 2014

FARMINGTON HILLS, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 17,873-square-foot retail strip center in Farmington Hills. Courtyard Shopping Center is located at 32500 – 32522 Northwestern Highway. The property was built in 1989 on nearly two acres. Courtyard Shopping Center was 92 percent occupied at the time of sale. Barry Swatsenbarg and Rich Deptula of Friedman represented both the undisclosed buyer and seller in the transaction.

October 9, 2014

Retail Texas

M&M Arranges Sale of Retail Center in Houston

by Haisten Willis October 9, 2014

HOUSTON — Marcus & Millichap has arranged the sale of Village Real shopping center, a 94,259-square-foot retail center in Houston. Jerry Goldstein of Marcus & Millichap’s Houston office arranged the sale on behalf of the seller, a local partnership. Goldstein also sourced the buyer, Dallas-based Dunhill Partners. The property is located at the intersection of Nasa Parkway and El Camino Real at 961 Nasa Parkway. It was built in 1976 on 4.4 acres and was renovated in 2008. Tenants include Office Depot, Half Price Books, Eduardo’s Mexican Restaurant, Subway, Nasa Liquor, Value Furniture, Masa Sushi, J.C. Jewelers and Hollywood Hair.

October 9, 2014

Retail Texas

Coldwell Banker Brokers Sales of Retail Centers in Houston

by Haisten Willis October 9, 2014

HOUSTON — Coldwell Banker Commercial United Realtors has arranged the sale of two retail centers in Houston in separate transactions. The first is a 4,800-square-foot building located at 3014 Scott Street near the University of Houston. Daniel Bekele of Coldwell Banker represented the seller, a law firm. Oscar Hoang of Annam Realty represented the buyer, an investor. The second is a 16,450-square-foot strip center located at 3922 Old Spanish Trail. Mark McGinley of Coldwell Banker represented the seller. Van Pham of Champions Real Estate Group represented the buyer, an investor.

October 9, 2014

Northeast Pennsylvania Retail

JV Buys Hershey Square Shopping Center for $28.5M

by Amy Works October 9, 2014

HUMMELSTOWN, PA. — A joint venture partnership between Heidenberg Properties Group, Norse Realty and Strategic Real Estate Partners has acquired Hershey Square Shopping Center in Hummelstown. Hershey Trust Company sold the property for $28.5 million. Developed in 1994, the 218,290-square-foot, supermarket-anchored center includes 30,600 square feet of in-line retail space and six outlots, including Applebee’s, Panera Bread and Verizon. Heidenberg Properties and its partners own and manage approximately 3.5 million square feet of retail, including several locations throughout Pennsylvania.

October 9, 2014

California Restaurant Retail Western

Fogo de Chao Leases Space in Downtown LA

by Nellie Day October 9, 2014

LOS ANGELES — Fogo de Chao has signed a 15-year lease for 7,414 square feet in Downtown Los Angeles. The Brazilian steakhouse will be located at 800 S. Figueroa Street in the city’s Financial District. It will be situated across the street from the FIGat7th open-air shopping mall. The lease is valued at $6.2 million. The space was previously occupied by Roy’s Hawaiian Fusion. It is currently undergoing tenant improvements. Fogo de Chao is hoping to open in the fourth quarter of this year, in time for the holiday season. The restaurant was represented by Sierra Commercial Real Estate. The landlord, 800 Fig Verona Corp., was represented by Derrick Moore of Avison Young.

October 9, 2014

California Retail Western

Los Gatos Retail Property Sells for $6.1M

by Nellie Day October 9, 2014

LOS GATOS, CALIF. – A 12,800-square-foot retail property in Los Gatos has sold to a limited liability company for $6.1 million. The property is located at 102 South Santa Cruz Ave. It was built in 1974. Notable tenants at the property include 101 Broadway and The Spa. The LLC was represented by Anh Stovall, J.J. Taughinbaugh and Yuri Sergunin of Marcus & Millichap’s Palo Alto office.

October 9, 2014

California Retail Western

San Diego Retail Building Sells for $2.7M

by Nellie Day October 9, 2014

SAN DIEGO – A 9,945-square-foot retail property in San Diego has sold to Howard Park of 1999 Park Family Trust for $2.7 million. The property is located at 7763-67 Balboa Ave. The space was originally built for Color Tile, which occupied the property for more than 20 years. The new owner, which also owns T-Shirt Mart and several related retail stores, will upgrade the property. The trust plans to occupy about 60 percent of the space.

October 9, 2014

Retail Texas

Bellomy & Co. Arranges Sale of Storage Units in Metro Houston

by Haisten Willis October 8, 2014

CONROE, TEXAS — Bellomy & Co. has arranged the sale of Preferred Mini Storage in Conroe, 40 miles north of Houston. The Class A property has 407 climate and non-climate controlled units in 42,240 rentable square feet. It was built in 1995 and 1997 on 3.6 acres and was 95 percent occupied at the time of sale. Bill Bellomy, Michael Johnson and John Owens negotiated the transaction on behalf of the unnamed seller and the buyer, a Houston-based partnership.

October 8, 2014

Georgia Retail Southeast

Colliers Brokers Sale of Two Metro Atlanta Shopping Centers Totaling $14.4M

by John Nelson October 8, 2014

MARIETTA, GA. — Colliers International’s Southeast retail investment sales team has brokered the sale of two shopping centers in the Atlanta suburb of Marietta totaling $14.4 million. The two assets include the 88,369-square-foot Home Center Village and the 206,828-square-foot Marietta Plaza. Home Center Village is 90 percent leased to tenants such as Dollar Tree and Anna’s Linens and includes Walmart Supercenter as a shadow anchor. The Geneva Group purchased Home Center Village from Mimms Enterprises for roughly $6.9 million. Marietta Plaza is anchored by Burlington Coat Factory. The Simpson Organization purchased the asset for roughly $7.5 million. Joe Montgomery and Tony D’Ambrosio of Colliers International represented the sellers in both transactions.

October 8, 2014

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