Retail

French-Valley-Marketplace-French-Valley-CA

United Development Starts Construction of French Valley Marketplace in California

by Amy Works March 5, 2020

FRENCH VALLEY, CALIF. — Southlake, Texas-based United Development Co., in partnership with Pasadena, Calif.-based Halferty Development Co., has started construction of French Valley Marketplace, a shopping center in French Valley, approximately seven miles northeast of Temecula. Situated on 22 acres, French Valley Marketplace will offer 132,500 square feet of leaseable space in 16 buildings, with 44,300 square feet of retail space still available, four drive-thru pads for ground lease or build-to-suit and 5,000 square feet of grocery store and planned pharmacy space. Pre-leased tenants include Grocery Outlet, LA Fitness, McDonald’s, 7-Eleven and AutoZone, all of which are slated to open later this year. Romspen provided the construction financing, which Dallas-based Metropolitan Capital Advisors sourced. Nick Wirick and Miranda Fifield of Lee & Associates are handling leasing for the property.

March 5, 2020

Acquisitions California Retail Western

Faris Lee Arranges $9.2M Sale of Two Freestanding Outparcel Assets in Fontana, California

by Amy Works March 5, 2020

FONTANA, CALIF. — Faris Lee Investments has arranged the $9.1 million sale of two freestanding outparcel properties located at 17151-17171 W. Foothill Blvd. in Fontana. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller and procured the Los Angeles-based buyer. Totaling 34,377 square feet, the properties are situated within a Walmart-anchored shopping center.

March 5, 2020

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Brokers Sale of 12-Screen AMC Theater in Tyngsboro, Massachusetts

by Alex Patton March 5, 2020

TYNGSBORO, MASS. — Marcus & Millichap has brokered the $7 million sale of a 12-screen AMC Theater in Tyngsboro, located approximately 35 miles northwest of Boston. Located at 440 Middlesex Road, the 39,474-square-foot theater originally opened in 1991. The building was recently renovated to improve all 12 screening rooms, the roof and the parking lot, and now includes a full bar. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap represented the undisclosed seller in the transaction. Russell Wachtler, also with Marcus & Millichap, represented the buyer, a publicly traded institutional investor based in Florida.

March 5, 2020

Acquisitions Connecticut Northeast Retail

Houlihan-Parnes Brokers Sale of 31,150 SF Retail Center in West Haven, Connecticut

by Alex Patton March 4, 2020

WEST HAVEN, CONN. — Houlihan-Parnes Realtors LLC has brokered the $2.1 million sale of Woodlawn Shopping Center, a 31,150-square-foot retail center in West Haven, a southwestern suburb of New Haven. At the time of sale, space at the shopping center was leased to 10 retail tenants including several restaurants, a bowling alley and a beauty salon. The property also includes a 20,000-square-foot vacant parking lot across the street. Jeremiah Houlihan of Houlihan-Parnes represented the buyer, a family-owned real estate holding and managing company based in Yonkers, New York. The seller was undisclosed.

March 4, 2020

Acquisitions Retail Texas

Baker Katz Acquires 139,926 SF North Park Plaza Shopping Center in Beaumont

by Taylor Williams March 4, 2020

BEAUMONT, TEXAS — Houston-based retail brokerage and investment firm Baker Katz has acquired North Park Plaza, a 139,926-square-foot shopping center in Beaumont. The property is situated on 14.3 acres across from Parkdale Mall, which is being redeveloped by Tennessee-based CBL Properties. Target anchors the center, which also houses tenants such as Kirkland’s, Spec’s Wine & Spirits, Skechers, Mattress Firm and Longhorn Steakhouse. Ryan West of JLL represented the seller, Weingarten Realty Investors, a Houston-based REIT, in the transaction.

March 4, 2020

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Arranges Sale of 12,000 SF Retail Strip Center in Middletown, New Jersey

by Alex Patton March 4, 2020

MIDDLETOWN, N.J. — Marcus & Millichap has arranged the $3.9 million sale of The Lincroft Grove, a 12,000-square-foot retail strip in Middletown, located approximately 50 miles south of New York City. Located at 644 Newman Springs Road, the property was leased to several restaurants at the time of sale. ACME Markets and Bank of America Financial Center anchor an adjacent retail center. Jason Petrick of Marcus & Millichap represented the seller in the transaction. Michael Lombardi of Marcus & Millichap represented the buyer. Both investors were limited liability companies that requested anonymity.

March 4, 2020

Leasing Activity Retail Texas

EVO Entertainment to Open 80,000 SF Venue at Escala in San Antonio

by Taylor Williams March 4, 2020

SAN ANTONIO — EVO Entertainment, an entertainment retail concept that combines bowling, movies, games, food and beverages, will open an 80,000-square-foot venue at Escala in San Antonio. The center will feature 10 movie screens, 12 bowling lanes, a restaurant and bar, arcade and virtual reality games, a ropes course and private event space. Metro Dallas-based N3 Real Estate is the developer of Escala, a shopping center located at the intersection of State Highway 151 and Military Drive on the city’s northwest side. The venue will be the seventh for EVO, which primarily operates in Central Texas, and is scheduled to open in January 2021.

March 4, 2020

Development Retail Southeast Tennessee

Whole Foods Opens 44,500 SF Store in Downtown Nashville

by Alex Tostado March 4, 2020

NASHVILLE, TENN. — Whole Foods Market has opened a 44,500-square-foot store in downtown Nashville. Whole Foods employs about 120 full- and part-time workers at the new store, which is situated at 1202 Broadway. The store will be open 7 a.m. to 10 p.m. daily. The new location features a full-service coffee bar called BroadBrews, offering coffee, espresso, cold brew, teas, beer, wine and pastries. The new Whole Foods is situated at the ground level of 1200 Broadway, a 26-story, 313-unit apartment complex. This is Whole Foods’ third location in metro Nashville, joining a store seven miles south of downtown in Green Hill and a store in Franklin, 18 miles south of Nashville.

March 4, 2020

Acquisitions California Mixed-Use Multifamily Office Retail Western

Optimus Properties Sells Two-Property Mixed-Use Portfolio in California for $11M

by Amy Works March 4, 2020

CARMEL, CALIF. — Optimus Properties has completed the disposition of a two-property portfolio in downtown Carmel. Wheat LLC acquired the mixed-use portfolio for $11 million. The sale consists of the 4,345-square-foot Block 71: Lot 5 building, with ground-floor retail and office space and second-floor residential space, and Block 76: Lot 11, a 2,763-square-foot retail property. Michael Schoeder of Cushman & Wakefield’s Central Coast Operations, in collaboration with Dan Wald and Don LeBuhn of the firm’s Retail Investment Advisors Group in San Francisco, represented the seller in the deal.

March 4, 2020

Acquisitions Retail Southeast Virginia

SRS Negotiates $4M Sale of Single-Tenant Retail Property in Richmond Net Leased to 7-Eleven

by Alex Tostado March 3, 2020

RICHMOND, VA. — SRS Real Estate Partners’ National Net Lease Group has negotiated the $4 million sale of a single-tenant building in Richmond net leased to 7-Eleven. The 2,956-square-foot building is situated on 1.2 acres at 5201 Chamberlayne Ave., five miles north of downtown Richmond. The seller, an undisclosed developer based in Richmond, delivered the asset in late 2019. There is a 15-year, corporate-guaranteed lease in place with 7-Eleven Inc. Frank Rogers and Michael Carter of SRS represented the seller in the transaction. Gardner King of Dominion Commercial represented the undisclosed buyer, which was completing a 1031 exchange.

March 3, 2020

Newer Posts

Older Posts