Restaurant

Overland Group Breaks Ground on Avondale Commons Mixed-Use Project in Arizona

by Amy Works November 14, 2022

AVONDALE, ARIZ. — Overland Group as developer and Overland Construction as general contractor have broken ground on Avondale Commons, a 22.6-acre mixed-use development on the northwest corner of Avondale Boulevard and McDowell Road in Avondale. Upon full build-out, the development will offer four residential buildings, a hotel, two restaurants, four office buildings and retail space. The first portion of the four-building, 39,650-square-foot medical office complex is underway, with delivery slated for second-quarter 2024. Avondale Commons will feature modern, four-sided architectural design in a garden office setting with highly visible monument signage on McDowell Road and Avondale Boulevard. The office and retail space, including dining and boutique amenities, will be finished in 18 months and is available for pre-leasing. The residential portion is slated for completion in 30 months, with the hotel and conference facilities being completed shortly after. Philip Wurth and Brian Woods of Colliers in Arizona are the exclusive leasing agents for the office and retail portions of the project.

November 14, 2022

Acquisitions Midwest Ohio Restaurant Retail

Cooper Group Arranges $1.7M Sale of Taco Bell-Occupied Property in Gahanna, Ohio

by Kristin Harlow November 14, 2022

GAHANNA, OHIO — The Cooper Commercial Investment Group has arranged the $1.7 million sale of a restaurant building occupied by Taco Bell in Gahanna, a northwest suburb of Columbus. The property serves as an outparcel to the Hunter’s Ridge shopping center. Dan Cooper of Cooper Group represented the seller, a private investment group based in Florida. Cooper also procured the undisclosed buyer. The sales price represents a cap rate of 4.5 percent and $694 per square foot. Taco Bell signed a 20-year lease extension at the property in 2020.

November 14, 2022

Development Florida Hospitality Mixed-Use Multifamily Restaurant Retail Southeast Top Stories

LD&D Plans $200M Mixed-Use Development in Downtown Tampa

by Jeff Shaw November 10, 2022

TAMPA, FLA. — Miami-based investment, development and design firm LD&D has announced plans for the development of a $200 million mixed-use project in downtown Tampa. The project site, located at 1101 E. Harrison St., comprises two acres within the 40-acre master-planned development district known as ENCORE. LD&D acquired the property from the Tampa Housing Authority (THA). Plans for the project include the construction of a 28-story multifamily building, a 178-room hotel, 32,500 square feet of ground-floor retail space and a 586-space parking podium. Baker Barrios Architects is the designer for the project. Construction is scheduled to commence in the second half of 2023. The residential tower, which the developers say will be the tallest building in the area, will feature 365 units and more than 45,000 square feet of amenity space. Amenities will include a 4,500-square-foot wellness area, 10,000-square-foot coworking space and a 26th-floor sky lounge with views of the city. Hotel and residential uses at the development are to be separated by a pedestrian alleyway, which will be lined with restaurant and retail tenants. Situated blocks from the site of the Amtrak station and potential new Brightline train station that would connect other major cities in the state, the …

November 10, 2022

Acquisitions Midwest Ohio Restaurant Retail

Cooper Group Negotiates $2.5M Sale of McDonald’s-Occupied Property in Gahanna, Ohio

by Kristin Harlow November 9, 2022

GAHANNA, OHIO — The Cooper Commercial Investment Group has negotiated the $2.5 million sale of a restaurant property occupied by McDonald’s in Gahanna, a northeast suburb of Columbus. Constructed in 2011, the building serves as an outparcel to the Hunter’s Ridge shopping center. Dan Cooper of Cooper Group represented the seller, a private investment group based in Florida. Cooper also procured the undisclosed buyer. The asset sold at full list price, representing a cap rate of 3.5 percent and $540 per square foot.

November 9, 2022

Acquisitions Arizona Restaurant Retail Western

Phoenix Commercial Advisors Brokers $22M Sale of The Pavilions Shopping Center in Mesa, Arizona

by Amy Works November 7, 2022

MESA, ARIZ. — Phoenix Commercial Advisors has facilitated the sale of The Pavilions, a neighborhood retail center at the southeast corner of Dobson and Guadalupe roads in Mesa. The asset traded for $22 million, or $170 per square foot. The names of the seller and buyer were not released. At the time of sale, the 129,674-square-foot property was 96 percent leased. Current tenants include Great Clips, Banner Urgent Care, Native Grill & Wings, Over Easy and Villa Tuscana, a reception hall for weddings and other large events. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.

November 7, 2022

California Loans Restaurant Retail Western

Gantry Arranges $23M Refinancing for Vacaville Commons Shopping Center in California

by Amy Works November 2, 2022

VACAVILLE, CALIF. — Gantry has arranged a $23 million permanent loan to refinance debt on Vacaville Commons, a power retail center in Vacaville. Tenants at the 400,000-square-foot property include Safeway, Ross Dress for Less, Big 5, Chase Bank, Chick-fil-A and Chili’s. Tom Dao and Erinn Cooke of Gantry’s San Francisco office arranged the financing on behalf of a private real estate investment partnership. The 10-year, fixed-rate loan, features an interest-only period transitioning to 30-year amortization. A correspondent life company lender provided the capital.

November 2, 2022

Acquisitions Arizona Office Restaurant Retail Western

Tortosa Sells Retail/Office Property in Phoenix for $4.4M

by Amy Works October 28, 2022

PHOENIX — Tortosa LLC has completed the disposition of The Strip, a two-story retail and office building in Phoenix, to 4700 Alliance LLC, a Seattle-based investment company, for $4.4 million. Located at 4700 N. 12th St., the multi-tenant property was fully leased at the time of sale. The ground-floor space consists of retail tenants, including a craft beer and wine bar/restaurant, a craft coffee shop, a wine shop and café, a locally famous cake bakery and a soon-to-be completed speakeasy bar and co-working lounge. The second floor includes a salon, two architectural firms, a fitness tech company and headquarters for a restaurant group. Eric Wichterman, Mike Coover, Steve Lindley and Alexandra Loye of Cushman & Wakefield’s private capital and capital markets teams in Phoenix represented the seller in the transaction.

October 28, 2022

Leasing Activity New Jersey Northeast Restaurant Retail

Crumbl Cookies Opens 1,794 SF Store in North Brunswick, New Jersey

by Taylor Williams October 27, 2022

NORTH BRUNSWICK, N.J. — Crumbl Cookies has opened a 1,794-square-foot store at The Shoppes at North Brunswick, located near Rutgers University in New Jersey. Kevin Pelio and James Azarian represented the landlord, Azarian Realty Co., in the lease negotiations on an internal basis. Jerry Johnson of Bennett Williams Commercial represented the tenant.

October 27, 2022

Leasing Activity Restaurant Retail Texas

Edens Adds Five New Retail Concepts at Uptown Park in Houston

by Taylor Williams October 26, 2022

HOUSTON — Edens has added five new tenants at Uptown Park in Houston. Lombardi Cucina Italiana will open a 9,350-square-foot restaurant; Polestar, a Swedish electric car brand, will occupy 3,420 square feet; and GLOSSLAB, a membership-based nail salon, will occupy 972 square feet. Rocambolesc, an ice cream shop, opened at the retail center earlier this year, and fertility and reproductive health clinic kindbody also recently opened a 5,360-square-foot facility at Uptown Park.

October 26, 2022

Acquisitions California Net Lease Restaurant Retail Western

Storm Properties Sells Aldi-Anchored Redondo Plaza in Gardena, California for $15.1M

by Amy Works October 26, 2022

GARDENA, CALIF. — Storm Properties has completed the disposition of Redondo Plaza, a grocery-anchored retail center located at 1550 W. Redondo Beach Blvd. in Gardena. A private 1031 exchange buyer acquired the asset for $15.1 million. Built in 2002 and renovated in 2018, Redondo Plaza features 28,000 square feet of retail space. Aldi anchors the property with 11.5 years remaining on its existing triple-net lease. At the time of sale, the property was fully occupied. Tenants include Domino’s Pizza, T-Mobile, Jackson Hewitt, Super Laundry and Crazy Rock’n Sushi. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Bryan Ley of JLL Retail Capital Markets Investment Sales and Advisory team represented the seller in the deal.

October 26, 2022

Newer Posts

Older Posts