WASHINGTON, N.J. — HFF has brokered the $16.2 million sale of The Village Shoppes at Hawk Pointe and Hunterdon Medical Office Building in Washington. The Village Shoppes at Hawk Pointe comprises an 81,415-square-foot, fully leased, ShopRite-anchored retail center. Other tenants at the retail property include Anytime Fitness and Visions Federal Credit Union. Built in 2016, the Hunterdon Medical Office Building is a 25,000-square-foot, single-tenant property occupied by Hunterdon Healthcare. HFF represented the seller, Asbury Farms, in the transaction. The buyer was Larken Associates.
HOUSTON — Houston-based Orr Commercial has sold Memorial Thicket Corner, an 8,729-square-foot retail strip center in Houston’s Energy Corridor. Completed in 2014, the center was fully leased at the time of sale to tenants such as Mattress Firm, Vision Source and USA Nails. Ryan West and John Indelli of HFF marketed the property on behalf of Orr Commercial. The buyer was not disclosed.
HUNTINGTON BEACH, CALIF. — Stockbridge, on behalf of its Smart Markets Fund, has purchased Edinger Plaza, a power shopping center located at 7490-7664 Edinger Ave. in Huntington Beach. Santa Monica-based Watt Cos. sold the property for an undisclosed price. Developed in 1976 and redeveloped in 2012, the 155,275-square-foot shopping center is situated on 13.4 acres. At the time of sale, the property was 99 percent leased to a variety of tenants, including Nordstrom Rack, Dick’s Sporting Goods, PetSmart and Michaels. Megan Wood, Jimmy Slusher, Sean Heitzler and Philip Voorhees of CBRE’s National Retail Partners-West team represented the seller and buyer in the deal, which was the highest priced retail property transaction in Orange County this year, according to the brokers.
PASADENA, CALIF. — Avison Young has arranged the sale the Artistry Theater Building, located at 600 E. Colorado Blvd. in Pasadena’s Playhouse District. Colorado Creative LLC sold the property to Morton Development Group for $5.3 million. The buyer plans to redevelop the long-vacant property into a retail and office asset. Built in 1931 as a United Artists theatre, the 15,060-square-foot property was first renovated in 1960, but the property has fallen into a long state of disrepair and neglect. Its tenant of more than a decade, Angels School Supply, vacated the building more than three years ago, and the property has been empty ever since. Andrew Berk and Chase Gordon of Avison Young represented the seller, while the buyer was self-represented in the transaction.
CHICAGO — Away Travel has signed a 1,200-square-foot retail lease at the corner of State and Cedar streets in Chicago. The travel and lifestyle brand offers high-quality luggage at affordable prices. Expected to open in time for the holiday shopping season, this will be the seventh retail storefront for Away Travel. The brand originally started as an online-only concept. Founded by two Warby Parker alumni, Away Travel will be located adjacent to a Warby Parker store. Janika Brenner and Adam Secher of Baum Realty Group LLC, along with Peter Block of Colliers International, represented the undisclosed landlord in the lease transaction. Jason Trombley of JLL represented Away Travel.
Columbus is a city on the rise. While that’s not exactly a new development, the fact that the arc of commercial development continues to bend up in Ohio’s capital city is noteworthy — and the pace of growth is impressive, to say the least. Columbus is the gateway market for the state of Ohio, with an impressive civic and economic resume. The counties making up the greater Columbus region have not only added approximately 160,000 jobs since 2010, they have brought in more than $8 billion in capital investments during that time. Columbus is home to The Ohio State University (OSU), one of the largest and most influential public universities in the nation; a long and expanding list of headquarters of national brands and businesses; and Columbus boasts a combination of arts, culture and commercial creativity that has led some to refer to it as the “Austin of the Midwest.” Downtown’s Arena District, home to the city’s professional hockey team the Columbus Blue Jackets, is the standard bearer for large-scale urban infill projects. The new Grandview Yard development brought additional mixed-use horsepower to the city. Retail expansions Easton Town Center is the major retail destination in Columbus, located in the …
HOUSTON — Davis Commercial has brokered the sale of a 12,500-square-foot shopping center located at 10824 Kingspoint Road in Houston. The property was 100 percent occupied at the time of sale. Ryan Neyland of Davis Commercial represented the seller, Chimera Holdings LLC, in the transaction. The buyer was JTL Logistics Inc.
NORTHVILLE, MICH. — Burn Boot Camp has leased 6,240 square feet to open a Northville location at 16831-16863 Ridge Road. The North Carolina-based fitness center franchise has more than 65 locations nationally. This will be the company’s fourth fitness center in Michigan. The company offers high-intensity classes that last 45 minutes. Thomas Wardlow of Colliers International represented the tenant in the lease transaction. The landlord was not disclosed. Burn Boot Camp hopes to be open before the end of the year.
DURHAM, N.C. — An affiliate of Greenville, N.C.-based Brodyco has purchased Lakewood Shopping Center in Durham for an undisclosed price. A 29,000-square-foot Food Lion and Dollar General anchor the 82,000-square-foot shopping center, which was built in the 1960s. The buyer is considering remerchandising the center’s tenant mix going forward. The 58-year-old shopping center has a rich history. The property was once an amusement park with roller coaster, dance pavilion and bowling, and more recently, home to Winn Dixie, W.T. Grant and Woolworth’s Department Stores.
BEVERLY HILLS, CALIF. — Lang & Lang Properties has completed the sale of a retail building, located at 457-459 N. Rodeo Drive in Beverly Hills. A joint venture led by Michael Shabani of Crown Equity, Hakim Holdings, GWP Real Estate and Mazal Enterprises, acquired the property for $96 million, or $8,240 per square foot. Brioni, an Italian menswear retailer, and Alexander McQueen, a British fashion house, occupy the 11,625-square-foot retail building. With 50 feet of frontage on Rodeo Drive, the property comprises 7,150 square feet of ground-floor space, approximately 600 square feet on the mezzanine level and 3,875 square feet on the basement level. Carine Mamann, Kazuko Morgan and Stephen Algermissen of Cushman & Wakefield represented the buyer in the transaction.