Retail

Academy Bank Opens New Retail Banking Center in Overland Park, Kansas

by Kristin Harlow August 23, 2019

OVERLAND PARK, KAN. — Academy Bank, a full-service community bank and wholly owned subsidiary of Dickinson Financial Corp., has opened a new retail banking center in Overland Park. The new branch spans 2,356 square feet and is located at 6976 W. 135th St. It is Academy Bank’s second branch in Overland Park. In addition to ATM and mobile services, the location features interactive teller machine video banking. By the end of the year, the Overland Park branch will also feature Academy Express, a drive-thru video banking service that connects to a live banker seven days a week. Academy Bank also operates centers in Fairway, Lenexa, Olathe and Shawnee.

August 23, 2019

Leasing Activity Midwest Ohio Retail

Five Below Signs 10-Year Retail Lease in Rossford, Ohio

by Kristin Harlow August 23, 2019

ROSSFORD, OHIO — Retailer Five Below has signed a 10-year lease at Crossroads Centre in Rossford, about five miles south of Toledo. Five Below will occupy 8,552 square feet at 9570 Fremont Pike. Crossroads Centre is a 464,713-square-foot regional shopping center situated on 66 acres. Duke Wheeler of Reichle Klein Group represented the undisclosed landlord in the lease transaction. Five Below is a discount retailer that sells products costing up to $5.

August 23, 2019

Acquisitions California Retail Western

JLL Brokers $31.5M Sale of 148,805 SF Corona Hills Marketplace in Corona, California

by Amy Works August 23, 2019

CORONA, CALIF. — JLL has arranged the sale of Corona Hills Marketplace, a grocery-anchored community shopping center located in the Corona Hills neighborhood of Corona. A public REIT sold the property to a private investor for $31.5 million. Situated on 12.3 acres at 529-591 N. McKinley St., Corona Hills Marketplace features 148,805 square feet of retail space in California’s Riverside County. At the time of sale, the property was 98 percent leased to a mix of daily-needs and service-oriented tenants. Anchor tenants include Vons, PetSmart and Howard’s Appliances. Gleb Lvovich, Bryan Ley and Daniel Tyner of JLL Capital Markets represented the seller in the transaction.

August 23, 2019

Acquisitions California Retail Western

Beta Negotiates Sale of 37,346 SF Retail Building in Southern California

by Amy Works August 23, 2019

NEWBURY PARK, CALIF. — Beta, a California-based commercial real estate agency, has negotiated the sale of a retail building located at 3057 Grande Vista Drive in Newbury Park. AHS Property Inc. acquired the asset from Academy Road LLC. Although the price was not disclosed, the building was listed for $15 million. LA Fitness occupies the 37,346-square-foot building, which is located within the 575,644-square-foot Village at Newbury Park shopping center, which was developed this year. Additional tenants at the shopping center include Target, The Home Depot, Staples, Lowe’s Home Improvement Warehouse and PetSmart. Richard Rizika and Yvonne Shum of Beta represented the seller, while Mark Thiel of Marcus & Millichap represented the buyer in the deal.

August 23, 2019

Market Reports Retail Texas Texas Market Reports

Investor Demand Accelerates for Dallas Metro Retail Assets

by Taylor Williams August 23, 2019

The Dallas-Fort Worth (DFW) economy is booming with tremendous population, income and job growth trajectories that directly benefit the local retail sector. Shopping center investors have taken notice, as evidenced by the total transaction volume for retail properties during the last 12 months reaching its highest level in more than 10 years. Compelling Fundamentals Investors continue to buy retail properties in Dallas as a result of DFW’s healthy and diversified economy. Population growth and in-migration patterns are significant factors with more people moving to DFW last year than any other metro area in the nation (246 people arriving daily), according to recent data from the U.S. Census Bureau. This surge has pushed DFW’s population to more than 7.5 million residents. Additionally, employment growth has exploded, with DFW leading the nation in job creation last year by adding 116,400 jobs. The Dallas metro unemployment rate has recently dropped to 3 percent, which is the lowest rate in 20 years, and this has further contributed to powerful employment dynamics that continue to fuel consumer retail spending. DFW was also recently ranked as the No. 5 market in the nation for technology jobs, which typically are higher-paying and will add strength to an …

August 23, 2019

Acquisitions Florida Retail Southeast

CBRE Brokers $17.2M Sale of Waterfront Shopping Center Near Tampa

by Alex Tostado August 22, 2019

MADIERA BEACH, FLA. — CBRE has brokered the $17.2 million sale of The Shops at John’s Pass Village, a 40,771-square-foot shopping center in Madiera Beach. Mark Shellabarger of CBRE represented the undisclosed seller in an online auction that attracted 29 bids. Ben Mallah, an individual buyer, won the bidding process for the waterfront shopping village. The property consists of retail shops, restaurants, a marina and a 325-space parking garage. The Shops at John’s Pass is located about 25 miles west of downtown Tampa.

August 22, 2019

Acquisitions Midwest Minnesota Retail

Upland Arranges $4.1M Sale of Harbor Freight-Occupied Property in Blaine, Minnesota

by Kristin Harlow August 22, 2019

BLAINE, MINN. — Upland Real Estate Group Inc. has arranged the $4.1 million sale of a 16,000-square-foot retail property occupied by Harbor Freight in Blaine, about 15 miles north of Minneapolis. Harbor Freight was founded in 1977 in California as a mail-order hardware company. Today, the company operates more than 1,000 stores across the country. Buyer and seller information was not disclosed, but the buyer purchased the property in an all-cash 1031 exchange.

August 22, 2019

Acquisitions California Retail Western

First Washington Realty Acquires Fairmont Shopping Center in Pacifica, California

by Amy Works August 22, 2019

PACIFICA, CALIF. — Bethesda, Md.-based First Washington Realty (FWR) has purchased Fairmont Shopping Center, a community shopping center located in Pacifica. Terms of the acquisition, including seller’s name and price, were not released. Situated at the intersection of Hickey and Skyline boulevards, Fairmont Shopping Center features 102,982 square feet of retail space, with Safeway and Rite Aid as anchor tenants. FWR currently owns 103 shopping centers with a value of more than $5.5 billion located in 22 states and the District of Columbia. The company’s centers contain approximately 13.8 million square feet with approximately 2,500 tenants.

August 22, 2019

Acquisitions New Jersey Northeast Retail

Hanley Investment Group Brokers $6.6M Sale of Retail Center on Long Island

by Alex Patton August 22, 2019

HICKSVILLE, N.Y. — Hanley Investment Group (HIG) has brokered the $6.6M Sale of a 13,300-square-foot retail center in Hicksville. The center was 100 percent leased at the time of sale with tenants including Dunkin’, Pizza Hut and DTE Window Tinting. The final sale also included a single-family home near the property. Dylan Mallory and Jeff Lefko of HIG along with Marty Sass of New York-based Silber Investment Properties represented the seller, Riark LLC, in the transaction. Robert Sharfstein of RPS Capital Management represented the buyer, a local investor.

August 22, 2019

Leasing Activity New Jersey Northeast Retail

Edge Fitness Signs 48,776 SF Retail Lease in Voorhees, New Jersey

by Alex Patton August 22, 2019

VOORHEES, N.J. — Edge Fitness Clubs has signed a 48,776-square-foot retail lease at the Echelon Village Plaza in Voorhees, a southeastern suburb of Philadelphia. The gym will anchor the 90,000-square-foot retail center, which also houses a Dunkin’ and Voorhees Veterinary. Scott Benson and Brandon Anapol of Metro Commercial represented Edge Fitness in the lease negotiation. David Dunkelman of Soloff Realty & Development represented the landlord, Site Centers.

August 22, 2019

Newer Posts

Older Posts

Upcoming Events

Aug
06