Retail

GORDON PARTNERS BUYS NORTHWEST VILLAGE SHOPPING CENTER

by admin March 6, 2013

HOUSTON — Houston-based Gordon Partners has purchased the 190,000-square-foot Northwest Village Shopping Center, located at the corner of Highway 290 and Jones Road in Houston. The property is 87 percent leased to 35 tenants, including Spec's Wines, Liquor and Finer Foods, Harbor Freight Tools, Exclusive Furniture, T-Mobile and Subway. Gordon Partners plans to remodel the center and create junior anchor space opportunities. The shopping center is Gordon Partners' first Houston acquisition. The seller in the transaction was Baceline Value Fund I.

March 6, 2013

RITE AID RENEWS AT WILSONVILLE DISTRIBUTION CENTER

by admin March 6, 2013

WILSONVILLE, ORE. — Rite Aid has renewed its lease for 516,693 square feet at the Wilsonville Distribution Center. The center is located at 29555 SW Boones Ferry Road just south of Portland. The drugstore utilizes this facility as its Pacific Northwest regional distribution center.Rite Aid was represented by Tyler Sheils and Todd Hughes of Jones Lang LaSalle. The center is owned by GE Capital.

March 6, 2013

Retail Western

FONTANA RETAIL PROPERTY SELLS FOR $4M

by admin March 5, 2013

FONTANA, CALIF. – A 29,398-square-foot retail property in Fontana that is occupied by Family Dollar and Harbor Freight Tools has sold to a private investor for $4 million. It is located at 8933 Sierra Ave. Alvin Mansour of The Mansour Group of Marcus & Millichap Real Estate Investment Services represented both the buyer and the seller, a developer, in this transaction.

March 5, 2013

Northeast Retail

JOHNSON CITY TOWN CENTER SELLS FOR $10.8 MILLION IN JOHNSON CITY, N.Y.

by admin March 5, 2013

JOHNSON CITY, N.Y. — Johnson City Town Center, an 83,866-square-foot retail property, has sold for $10.8 million to a Canadian equity fund. The property is located at 420 Harry L Drive in Johnson City, about 70 miles south of Syracuse. The 34,627-square-foot Christmas Tree Shops anchors the retail center. Other tenants include Petco, Party City, Five Below and Lumber Liquidators. Steven Stoehrer and Preet Sabharwa of Marcus & Millichap represented the seller, a New York-based development fund, in the deal.

March 5, 2013

Retail Western

FONTANA RETAIL PROPERTY SELLS FOR $4M

by admin March 5, 2013

March 5, 2013

Midwest Restaurant

CRUSHED RED RESTAURANTS IN MISSOURI RECEIVE $1.4M IN RENOVATIONS

by admin March 5, 2013

ST. LOUIS — Three different Crushed Red Urban Bake & Chop restaurants have received approximately $1.4 million in renovations. The properties include a 3,300-square-foot facility located at 8007 Maryland Ave. in Clayton; a 3,100-square-foot building located at 140 S. Kirkwood Road in Kirkwood; and a 5,600-square-foot property located at 313. N. Euclid Ave. in St. Louis. The Clayton location, which received $500,000 for renovations, opened recently, while the other two locations are slated to open by the end of summer. St. Louis-based Hilliker Corp. assisted Crushed Reds restaurants with site location, negotiating lease terms and allowance from landlords toward renovations. Shamel Contracting completed the Clayton remodeling.

March 5, 2013

Retail Western

THE PLAZA AT THE BORDER IN SAN DIEGO RECEIVES $23M BRIDGE LOAN

by admin March 4, 2013

SAN DIEGO — The Plaza at the Border, a 98,000-square-foot retail center that’s situated along the U.S./Mexico border in the San Diego submarket of San Ysidro, has received a $23.5-million bridge loan. It is located at 3951-3975 Camino De La Plaza. The interest-only financing will replace a construction loan and cover the tenant improvement and leasing costs. The non-recourse, five-year, floating-rate loan was secured by HFF’s Aldon Cole, Tim Wright and Husayn Hasan on behalf of The Shamrock Group, LLC. Prime Finance served as the lender.

March 4, 2013

Retail Western

LITTLE ITALY RETAIL BUILDING IN SAN DIEGO SELLS FOR $3.3M

by admin March 4, 2013

SAN DIEGO – A 5,000-square-foot retail building in San Diego’s Little Italy neighborhood has sold to H.G. Fenton Company for $3.3 million. The building is located at 1665 India Street. It is currently leased to Princess Pub & Grille. The seller, the Zolezzi Family Trust, was represented by Brian Jinings of Cassidy Turley San Diego.

March 4, 2013

Retail Southeast

MORGAN PROPERTY GROUP SELLS MIAMI WALGREENS FOR $3.9M

by admin March 4, 2013

MIAMI — 1803 Wilmington Road Co. has acquired a Walgreens drugstore at the southeast corner of SW 26th Street and SW 142nd Avenue in Miami for $3.9 million. The seller, Morgan Property Group (MPG), acquired the 1.4-acre property in 2001 through its affiliate, and developed the freestanding drugstore. Morgan Real Estate, the brokerage arm of MPG, represented the seller in the transaction.

March 4, 2013

Midwest Retail

LEOPARDO COMPLETES $34M RETAIL CENTER IN CHICAGO, STARTS ON $43M PROJECT

by admin March 4, 2013

CHICAGO — Leopardo has completed the Gateway to the West Loop, a $34 million, 190,000-square-foot retail project anchored by Mariano’s Fresh Market. The company has also started construction on Ravenswood Station, a $43 million, 240,000-square-foot retail center also anchored by Mariano’s. Gateway to West Loop, located at 14-40 S. Halstead, is home to eight tenants including Mariano’s, Ulta Salon, GNC, Massage Envy and Supercuts. Ravenswood Station will also be home to Mariano’s, LA Fitness and Sears Auto. The project is slated for completion in January 2014. Both project teams include Leopardo (general contractor), Antunovich Associates (architect), Paul Shadle of DLA Piper (attorney) and developers Seymour Taxman, Timothy Barrett and Gene Porto.

March 4, 2013

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