Retail

JLL Negotiates Sale of 219,379 SF Shops at Vineyard Village Near DFW Airport

by Taylor Williams February 13, 2020

EULESS, TEXAS — JLL has negotiated the sale of the Shops at Vineyard Village, a 219,379-square-foot retail power center in Euless, located just south of Dallas-Fort Worth International Airport. The property was 98.2 percent leased at the time of sale to tenants such as Ross Dress for Less, Bed Bath & Beyond, Marshalls, Staples, PetSmart, Party City, Dollar Tree and Rally House. Chris Gerard, Barry Brown, Ryan Shore, Aaron Johnson, Austin Ross and Ben Siegel of JLL represented the seller, BIG Shopping Centers USA Inc. in the transaction. The buyer was an undisclosed private investor.

February 13, 2020

Leasing Activity Retail Texas

Alamo Drafthouse to Open 10-Screen Movie Theater in League City, Texas

by Taylor Williams February 13, 2020

LEAGUE CITY, TEXAS — Austin-based Alamo Drafthouse Cinema will open a 10-screen movie theater within the Victory Lakes shopping center in League City, a southeastern suburb of Houston, in late 2020. The theater will feature oversized recliners, made-from-scratch food and a standalone lobby with more than 40 local and regional craft beers. The new Alamo Drafthouse will be the company’s first venue in the Houston area since Alamo Drafthouse LaCenterra opened in Katy in 2018.

February 13, 2020

Acquisitions Illinois Midwest Retail

Marcus & Millichap Brokers $5M Sale of Retail Building in Wheaton, Illinois

by Kristin Harlow February 13, 2020

WHEATON, ILL. — Marcus & Millichap has brokered the sale of an 8,808-square-foot retail building in Wheaton for $5 million. Located at 2040 S. Naperville Road, the newly constructed property is fully leased to four tenants. Dunkin’ anchors the building and maintains a 15-year lease. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a developer. The team also procured the buyer, a limited liability company.

February 13, 2020

Acquisitions Midwest Ohio Retail

Silver Group, Quantum Arrange $1.4M Sale of Jiffy Lube-Occupied Property in Columbus

by Kristin Harlow February 13, 2020

COLUMBUS, OHIO — The Silver Group and Quantum Real Estate Inc. have arranged the sale of a Jiffy Lube quick-service oil change facility in Columbus for $1.4 million. The 1,620-square-foot, freestanding building sits on a half-acre at 7007 E. Broad St. The tenant is Team Car Care, an operator of 520 Jiffy Lube locations nationally. There are approximately five years remaining on the 20-year lease. Barry Silver of Silver Group represented the San Francisco-based private seller. Dan Waszak of Quantum Real Estate represented the buyer, a New York City-based private real estate investor.

February 13, 2020

Indiana Market Reports Midwest Midwest Market Reports Retail

Commercial Real Estate’s Sphere of Influence Grows in the Circle City

by Kristin Harlow February 13, 2020

Indianapolis is a humble midwestern city that often seems to fly under the radar, but for those willing to take a closer look, they will find more than just a famous racetrack and cornfields. Indianapolis is a dynamic city with a thriving commercial real estate market. Sitting as the 14th-largest city in the U.S., Indianapolis is the economic heart of the region and has experienced steady growth over the past decade — and with true Hoosier hospitality. Here’s a look at what’s happening and what’s to come in the Indianapolis market. Downtown Indianapolis has rapidly evolved over the last few years. The “Circle City” gained momentum through the emergence of a thriving technology sector and steady employment gains in an already economically diverse business landscape. Those influences added to the convenience and tourism that make downtown a desirable destination for retailers. Increased interest from brands has spurred new development and better amenities. An additional 1 million square feet of first-floor commercial space has been added in downtown Indianapolis over the last eight years, and an additional 400,000 square feet is expected over the next few years — a firm foundation that tells an incredible story of growth and investment. Mass …

February 13, 2020

Acquisitions Maryland Retail Southeast

IPA Arranges Sale of 234,036 SF Shopping Center in Baltimore

by Alex Tostado February 12, 2020

BALTIMORE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Mount Clare Junction, a 234,036-square-foot retail property in Baltimore’s Mount Clare neighborhood. The property was 82 percent leased at the time of sale to tenants including Price Rite, Family Dollar and Capital One Bank. The shopping center is situated on 16 acres at 1223 W. Pratt St., two miles west of downtown Baltimore. Christopher Burnham, Dean Zang and David Crotts of IPA represented the undisclosed seller, a New York City-based investment management firm, in the transaction. An affiliate of Carlyle Group acquired the property for an undisclosed price. Bryn Merrey is Marcus & Millichap’s broker of record in Maryland.

February 12, 2020

Colorado Development Office Retail Western

Shorenstein Properties, Nichols Partnership to Develop One Platte Office/Retail Project in Denver

by Amy Works February 12, 2020

DENVER — A joint venture between Shorenstein Properties and Nichols Partnership has unveiled plans for One Platte, a five-story office and retail development located at 1701 Platte St. in downtown Denver. Situated on 1.5 acres in the Central Platte Valley neighborhood, One Platte will feature a 250,000-square-foot building offering 240,000 square feet of office space and 10,000 square feet of ground-floor retail space. The Beck Group is providing design-build services for the development. The building will feature floor-to-ceiling windows with views of the Rocky Mountains and Denver skyline. Amenities include a lounge, rooftop terrace, event spaces, fitness center, bicycle lockers and a secure underground parking facility. Construction started Feb. 11 on the project, with completion slated for early 2022.

February 12, 2020

Colorado Development Multifamily Restaurant Retail Western

Continuum Partners, CIM Group Complete 319-Unit Multifamily Building at Urban Infill Project in Denver

by Amy Works February 12, 2020

DENVER — 9th Avenue (Denver) Land, a joint venture between Continuum Partners and CIM Group, has opened Milo, a market-rate multifamily building at 9+CO, a mixed-use property in Denver. Designed by Shears Adkins Rockmore Architects, Milo features 319 micro, studio, one-, two- and three-bedroom apartments across two buildings. The units range from 370-square-foot micro units with built-in wardrobes and murphy beds to 1,590-square-foot three-bedroom flats. Ground-floor units include walk-up private entrances and two-story townhomes. Additional unit finishes include stainless steel appliances, walk-in closets, in-unit washers/dryers and balconies in select units. Community amenities include co-working office space; roof deck with grills, fire pits and seating; a hot tub; heated lap pool; resident lounge with entertaining kitchen; shuffleboard table; 24-hour fitness center; secured parking garage; bicycle and ski repair center; pet and bicycle wash; and storage units on every floor. Milo is the second market-rate residential building at 9+CO, joining the 275-unit Theo development that opened in May 2018. The 26-acre urban infill project is located at the site of the former University of Colorado Health Sciences Center in Denver. The project will ultimately comprise approximately 2 million square feet of mixed-use space. Currently signed retailers include Fluff Salon, Sweet Combforts, Elevation …

February 12, 2020

Development Illinois Midwest Retail

CMX CinéBistro Set to Open This Week at Wheeling Town Center in Suburban Chicago

by Kristin Harlow February 12, 2020

WHEELING, ILL. — CMX CinéBistro is set to open at Wheeling Town Center on Friday, Feb. 14 in suburban Chicago. The movie theater anchors the retail portion of the mixed-use project. Spanning 40,000 square feet CMX CinéBistro Wheeling will offer a bar and lounge area, seven screens, reclining seats and tables for food and beverage service. After 8 p.m., movie goers must be 21 years of age or older. Previous tenants who have opened at Wheeling Town Center include Starbucks, Inland Bank, AT&T and City Works. The apartments at the project opened in spring 2019 and are more than 70 percent leased.

February 12, 2020

Loans Retail Texas

JLL Arranges Loan for Refinancing of 471,752 SF Retail Power Center Near Houston

by Taylor Williams February 12, 2020

CONROE, TEXAS — JLL has arranged a loan of an undisclosed amount for the refinancing of 336 Marketplace, a 471,752-square-foot retail power center in Conroe, about 40 miles north of Houston. The center is situated on 72 acres and houses tenants such as Kroger, Michaels, Dick’s Sporting Goods, Marshalls, Five Below, Ross Dress for Less, HomeGoods, Ulta Beauty, DSW and Burlington. Colby Mueck, Molly Leinsdorf and Tolu Akindele of JLL arranged the nonrecourse, fixed-rate loan through The Guardian Life Insurance Co. of America on behalf of the borrower, Fidelis Realty Partners.

February 12, 2020

Newer Posts

Older Posts