Retail

SAN FRANCISCO – A 5,770-square-foot retail building that is known by its locale, 33 Grant Avenue, has changed hands in San Francisco. The purchase price was not disclosed. The building resides within the city’s Union Square neighborhood. It is fully leased to two tenants, including Steve Madden and Archer, a luxury hair salon. The seller, City Center Realty Partners, LLC, was represented by HFF’s Nicholas Bicardo and Mark Damiani.

SAN LUIS, ARIZ. — The San Luis Shopping Center, a 40,256-square-foot, multi-tenant shopping center in San Luis, has sold to an entity of SimonCRE for $2.2 million. The center is located on the U.S. border with Sonora, Mexico. It is shadow-anchored by a Super Wal-Mart and boasts a 61 percent occupancy rate. Other notable tenants include Dollar Tree, Rue 21, The Shoe Depot and Sally Beauty Supply. The seller, CRM Mid-Atlantic Properties, was represented by Andrew Fosberg and Steve Fernandez of CBRE’s Phoenix office.

SAN LUIS, ARIZ. — The San Luis Shopping Center, a 40,256-square-foot, multi-tenant shopping center in San Luis, has sold to an entity of SimonCRE for $2.2 million. The center is located on the U.S. border with Sonora, Mexico. It is shadow-anchored by a Super Wal-Mart and boasts a 61 percent occupancy rate. Other notable tenants include Dollar Tree, Rue 21, The Shoe Depot and Sally Beauty Supply. The seller, CRM Mid-Atlantic Properties, was represented by Andrew Fosberg and Steve Fernandez of CBRE’s Phoenix office.

ALBANY, ORE. — Vintage Real Estate LLC has acquired the 406,500-square-foot Heritage Mall, an underperforming shopping center in Albany, from a consortium of lenders for an undisclosed sum. Albany is one of the fastest growing cities in Oregon.A major shopping destination for the city and Linn County, Heritage Mall features 52 major retailers, boutiques and restaurants. Among the retailers are Target, Sears, Ross Dress for Less and Old Navy, Maurices, rue21, Zumiez, Famous Footwear, GameStop and Bath & Body Works.Heritage Mall is located on 33 acres west of Interstate 5 and just north of Corvallis, home of Oregon State University and its more than 26,000 students. The mall, which opened in 1988, was remodeled in 2006 and currently is 50 percent occupied. This transaction removed $38 million in debt from the property.

LOS ANGELES — Westwood Center, a 34,136-square-foot shopping center in Los Angeles, has received $5.5 million in financing. The center is located at 2180 Westwood Blvd. It is fully occupied by tenants such as Subway, Fast Frame, Beauty Supplies and MB Nails. The seven-year loan was used to refinance existing debt. It boasts a 5 percent fixed interest rate. The loan was arranged for Westwood Center, LLC by HFF’s James Fowler.