Retail

10,000 SF OFFICE BUILDING SELLS FOR $2.8M IN NEWTON, MASS.

by admin February 8, 2013

NEWTON, MASS. — Hospice of Good Shepherd has acquired a 10,000-square-foot office building for $2.8 million. Good Shepherd purchased the building for $283 per square foot, the highest price paid for a stand alone office building in Newton in more than a decade. The office property located is at 90 Wells Ave. in the Wells Avenue Office Park. Jeremy Freid,z Adam T. Meixner, Michael d’Hemecourt and Jordan B. Sneider of Boston Realty Advisors represented the seller, 94 Wells Ave, LLC. Taber Keally of Donahue and Associates represented the buyer.

February 8, 2013

COMERICA BANK GROUND LEASE SELLS IN FORT WORTH

by admin February 8, 2013

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of a Comerica Bank ground lease, located along Camp Bowie Boulevard in Fort Worth. The asset's list price was $3.75 million. Alvin Mansour of Marcus & Millichap's Mansour Group, based in San Diego, represented the seller, a developer, in the transaction. The property sold to a private buyer.

February 8, 2013

Retail Western

TRACY PAVILION SHOPPING CENTER SELLS FOR $32M

by admin February 8, 2013

TRACY CALIF. – The Tracy Pavilion Shopping Center has sold to Excel Trust for $32 million. The 404,721-square-footcommunity shopping center is located on Naglee Road in Tracy, which is just east of San Francisco. The center is anchored by Home Depot, WinCo, Marshalls, Ross Dress for Less, PetsMart and Staples. Home Depot and WinCo are both tenant-owned and were not part of the sale. Ulta, Anna’s Linens, Chase Bank, Rubio’s, Panda Express, Starbucks, Supercuts, UPS and Subway also reside at the center. Lucescu Realty represented both the buyer and the multiple selling entities in this transaction. Tracy Pavilion was developed by affiliates of Kornwasser Shopping Center Properties in 2002.

February 8, 2013

Retail Western

MONTECITO RETAIL PROPERTY SELLS FOR $10.2M

by admin February 8, 2013

MONTECITO, CALIF. – A 13,778-square-foot retail property in Montecito has sold to a local investor for $10.2 million. The property is located at 1046-1054 Coast Village Road. The fully leased center boasts a tenant roster that includes Starbucks, Von’s Pharmacy, Blenders In the Glass, Boutique Antoinette and Occhiali Fine Eyewear. The buyer was represented by Austin Herlihy and Steve Brown of Radius Group. The private seller was represented by Clarice Clarke of Lee & Associates – Central Coast.

February 8, 2013

Retail Western

WOODLAND VILLAGE SHOPPING CENTER IN FLAGSTAFF SIGNS FOUR NEW LEASES

by admin February 7, 2013

FLAGSTAFF, ARIZ. – The Woodlands Village Shopping Center in Flagstaff has signed four new leases. Caf

February 7, 2013

Midwest Retail

TWO CVS PHARMACY BUILDINGS SELL FOR COMBINED TOTAL OF $1M IN ILLINOIS

by admin February 7, 2013

AURORA AND LEMONT, ILL. — Two CVS pharmacy buildings have sold to a private group in Florida for $500,000 a piece. Both CVS locations are corporately backed with long-term, triple-net leases and were built in 2002. The Aurora property is 17,468 square feet and has a small retail space attached to the CVS. The Lemont property is 10,908 square feet. Cleveland, Ohio-based Cooper Commercial Investment Group represented the buyer and the seller, a private group out of Illinois, in the deal.

February 7, 2013

Northeast Retail

3,500 SF VERIZON WIRELESS RETAIL STORE COMING TO BRICK, N.J.

by admin February 7, 2013

BRICK, N.J. — A 3,500-square-foot Verizon Wireless retail store is under construction in Brick, about 66 miles south of New York. The store is a freestanding building being developed by Piscataway, N.J.-based Edgewood Properties. Livingston-based Jarmel Kizel Architects and Engineers will provide architecture design and engineering services.

February 7, 2013

Retail Western

WOODLAND VILLAGE SHOPPING CENTER IN FLAGSTAFF SIGNS FOUR NEW LEASES

by admin February 7, 2013

FLAGSTAFF, ARIZ. – The Woodlands Village Shopping Center in Flagstaff has signed four new leases. Café Rio and Miracle Ear hearing aids will be added to the tenant roster, while Maytag-Just-Like-Home-Laundry has found a new space at the center and Buffalo Wild Wings has expanded at the center. The shopping center is located at the southeast corner of McConnell Drive and Woodlands Boulevard. Mike Polachek of SRS Real Estate Partners serves as the leasing agent for Woodlands Village, which is owned by PDC Community Centers, LLC.

February 7, 2013

Midwest Retail

11,996 SF CVS BUILDING SELLS FOR $400,000 IN NEW LENOX, ILL.

by admin February 6, 2013

NEW LENOX, ILL. — An 11,996-square-foot CVS building has sold to a private group in Ohio for $400,000. The CVS/pharmacy location is corporately backed with a long-term, triple-net lease. The property was built in 2002 and is located approximately 36 miles southwest of downtown Chicago. Cleveland, Ohio-based Cooper Commercial Investment Group represented the buyer and the seller, a private group out of Illinois, in the deal.

February 6, 2013

Retail Texas

DICK'S SPORTING GOODS, CORNER BAKERY COMING TO SHOPS AT LA PALMERA

by admin February 6, 2013

CORPUS CHRISTI, TEXAS — Fort Worth-based Trademark Property Co. will bring a 61,233-square-foot Dick's Sporting Goods anchor store and a 4,166-square-foot Corner Bakery Cafe to The Shops at La Palmera in Corpus Christi. Construction is set to begin soon on the Dick's Sporting Goods, which is anticipated to open this fall. Corner Bakery Cafe is scheduled to open in May. The Shops at Palmera is a 200,000-square-foot retail development located across from the La Palmera mall. The retail development underwent a two-year, $50 million renovation after Trademark and Institutional Mall Investors LLC purchased the property in 2008.

February 6, 2013

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