Retail

INLAND BUYS TWO SHOPPING CENTERS FOR $94.7M

by admin January 11, 2013

SAN ANTONIO AND OKLAHOMA CITY — Inland American Real Estate Trust has acquired two shopping centers in San Antonio and Oklahoma City for approximately $94.7 million. The properties include the 218,436-square-foot Stone Ridge Market in San Antonio and the 254,690-square-foot Rockwell Plaza in Oklahoma City. Stone Ridge's tenants include PetSmart, Sports Authority and Half Price Books. Rockwell Plaza has more than 40 tenants, including Ross Dress for Less, Jo-Ann Fabrics and Crafts, PetSmart, K&G Men's Warehouse, RadioShack, Rue21, GameStop, Dots and Dollar Tree.

January 11, 2013

UCR CLOSES ON SALE OF SEVEN RETAIL PROPERTIES

by admin January 11, 2013

DALLAS — Dallas-based UCR Investment Sales has arranged the sale of seven retail properties in Texas totaling 87,652 square feet. The properties include: The Shops at Carter Ranch located in Celina Roanoke Center located in Roanoke 7-Eleven located in Richardson North Main Street Center located in Fort Worth Lake June Commons located in Balch Springs O'Reilly Auto Parts and Cashmax located in Childress Hibbett Sports and Cashmax located in Athens Tommy Tucker of UCR Investment Sales represented the six different sellers in seven separate transactions.

January 11, 2013

Retail Texas

MMCC ARRANGES $12.5M CMBS REFINANCE

by admin January 11, 2013

HOUSTON — Marcus & Millichap Capital Corp. (MMCC) has secured a $12.5 million refinance for Westchase Shopping Center, located in Houston. Peter Dunn of MMCC's Houston office arranged the 10-year loan to amortize over 30 years through a CMBS lender. The LTV on the loan is 75 percent.

January 11, 2013

Retail Western

UPTOWN DISTRICT SHOPPING CENTER IN SAN DIEGO SELLS FOR $81M

by admin January 11, 2013

SAN DIEGO — The Uptown District Shopping Center, a 148,638-square-foot, mixed-use retail center in San Diego, has sold to Regency Centers Corporation for $81.1 million. It is located at 940 University Ave. in the city’s Hillcrest neighborhood. Notable tenants at the center include Ralphs, Trader Joe’s, Wells Fargo, Panera Bread and Starbucks. The sale was executed by the Mansour Group of Marcus & Millichap.

January 11, 2013

Retail Southeast

MARCUS & MILLICHAP FACILITATES $5M SALE OF COLONY SHOPS IN MIAMI

by admin January 10, 2013

MIAMI — Marcus & Millichap has facilitated the $5 million sale of the 24,700-square-foot Colony Shops, a retail strip center at 5058 Biscayne Blvd. in Miami’s Midtown district. The property is 100 percent occupied with a mix of local tenants including a Bikram Yoga studio, doctor’s office and law firm. Ryan Shaw of Marcus & Millichap represented the unlisted seller, and Scott Sandelin of Marcus & Millichap represented the buyer, a Miami Beach, Fla.-based limited liability company.

January 10, 2013

Midwest Retail

INLAND PURCHASES TWO SHOPPING CENTERS FOR $94.7M

by admin January 10, 2013

OAK BROOK, ILL — Inland American Real Estate Trust Inc. has acquired two necessity-based shopping centers in Oklahoma and Texas for approximately $94.7 million. The properties include Rockwell Plaza, a 254,690-square-foot shopping center in Oklahoma City and Stone Ridge Market, a 218,436-square-foot retail property in San Antonio.

January 10, 2013

Northeast Retail

UPPER EAST SIDE RETAIL BUILDINGS CHANGES HANDS FOR $60M

by admin January 10, 2013

NEW YORK CITY — TIAA-CREF has purchased 1511 Third Avenue on the Upper East Side for $60 million. The 60,000-square-foot retail building is one block south of East 86th Street, the main retail artery in the neighborhood. The property is fully leased to long-term tenants Gap and Equinox. Bob Knakal and Thomas Gammino of Massey Knakal represented both parties in the transaction.

January 10, 2013

Northeast Retail

CONSTRUCTION UNDER WAY ON 118,000 SF WOODHAVEN PLAZA

by admin January 10, 2013

OLD BRIDGE, N.J. — Construction is under way on Woodhaven Plaza, a new neighborhood shopping center on Texas Road in Old Bridge, about one mile from Monroe Township. The 118,000-square-foot center will serve as the retail component of Woodhaven Village, a planned residential community that currently contains a mix of 350 single-family homes, townhouses and apartments. Atlantic Realty is developing both the retail and residential areas, and R.J. Brunelli & Co. is serving as the leasing agent for the center.

January 10, 2013

Retail Western

PROGRESS RIDGE TOWNSQUARE IN PORTLAND RECEIVES $42M

by admin January 9, 2013

PORTLAND, ORE. — Progress Ridge Townsquare, a 213,809-square-foot retail community center in Portland, has received $42 million in financing. The center is located at 14805 SW Barrows Road. The 10-year, 3.7 percent fixed-rate loan will replace a construction loan on the property. Progress Ridge is 86.5 percent leased to New Seasons, Cinetopia, Ace Hardware, Play Boutique, Fuddruckers, Umpqua Bank and Gentle Dental. The loan was arranged by HFF’s Casey Davidson and Lloyd Minten on behalf of Gramor Development. HFF will also service the loan.

January 9, 2013

Midwest Retail

NAI HIFFMAN ARRANGES LEASES OF TWO RETAIL PROPERTIES

by admin January 9, 2013

BOLINGBROOK, ILL. — Penn Station Subs and Integrity Dental Associates have each signed leases for 1,600 square feet of retail space at Country Aire Commons shopping center in Bolingbrook. Both tenants are scheduled to open their doors in early 2013. Located in Country Aire Commons at 266-286 S. Weber Road, the center currently has two vacancies remaining. NAI Hiffman’s Claire Bitautas and Anne Callard represented Garber Properties, the landlord in the transaction. Bill Selonick of Newmark Knight Frank represented Penn Station Subs, and Karen Kramford of Ryan Hill Realty represented Integrity Dental.

January 9, 2013

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