Retail

Cushman & Wakefield Brokers $7.2M Sale of Mixed-Use Property in Miami’s Coconut Grove

by Amy Works October 10, 2018

MIAMI — Cushman & Wakefield has arranged the sale of a mixed-use building located at 3138 Commodore Plaza in Miami’s Coconut Grove neighborhood. A partnership between Terra and Banyan Street Capital purchased the property for $7.2 million, or $232 per square foot. Hollywood, Fla.-based MG|3 Development sold the property. Developed in 1986, the 31,000-square-foot, multi-tenant property features ground-floor retail space and three floors of offices, as well as on-site structured parking. Vacant at the time of sale, the property most recently housed the Academy of Arts & Minds charter school. Miquel Alcivar, Dominic Montazemi, Scott O’Donnell, Greg Miller and Jason Hochman of Cushman & Wakefield represented the seller in the deal.

October 10, 2018

Pavilions-North-Shopping-Center-San-Antonio

Acquisitions Retail Texas

RPD Catalyst Sells 165,993 SF Shopping Center in San Antonio

by Taylor Williams October 10, 2018

SAN ANTONIO — Los Angeles-based RPD Catalyst LLC has sold Pavilions North Shopping Center, a 165,993-square-foot retail property in San Antonio. Anchored by Conn’s Home Plus, Jo-Ann Fabrics, Sam Ash and K&G Fashion, the center was 99 percent leased at the time of sale. Kevin Catalani of REATA Real Estate Services represented RPD Catalyst in the transaction. The buyer was an out-of-state private investor.

October 10, 2018

Acquisitions Retail Texas

Baker Katz Completes Remodel, Sale of 52,744 SF Retail Center in Metro Houston

by Taylor Williams October 10, 2018

HUMBLE, TEXAS — Houston-based Baker Katz has completed the remodeling and sale of a 52,744-square-foot retail center in Humble, a northern suburb of Houston. The property is anchored by 24 Hour Fitness. Neal Wade of Baker Katz represented the firm internally in the sale of the asset, which it acquired less than two years ago. Joe Silver of Streetwise Retail Advisors represented the buyer, 2ML Atascocita, LLC. Two new tenants, CareNow and Potbelly, have leased space at the center following the remodeling.

October 10, 2018

Acquisitions Northeast Pennsylvania Retail

PB Warminster Plaza LLC Acquires 128,544 SF Shopping Center Near Philadelphia

by David Cohen October 10, 2018

WARMINSTER, PA. — PB Warminster Plaza LLC has acquired Warminster Plaza, a 128,544-square-foot shopping center in Warminster. The sales price was undisclosed. The property is located approximately 27 miles from Philadelphia and is home to a tenant roster that includes SMG SportsPlex at Warminster, AAA, Lee’s Hoagie House, YMCA of Buck’s County, Kid’s First Swim Schools, Pearle Vision Center and Grand Buffett. Chris Munley and Michael DiCosimo of HFF represented the seller, Liberty Capital III, in the transaction.

October 10, 2018

Acquisitions New York Northeast Retail

Marcus & Millichap Negotiates $2.5M Sale of Retail Property in Pittsburgh

by David Cohen October 10, 2018

NEW YORK CITY — Marcus & Millichap has negotiated the $2.5 million sale of a 4,955-square-foot retail property in Pittsburgh. Located at 145 McMurray Road, current tenants include Dunkin Donuts, Baskin Robbins and TOSS Pizza. Alan Cafiero and Ben Sgambati of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was an individual/personal trust. The property was constructed in 2016.

October 10, 2018

Development Illinois Midwest Retail

Contegra Completes $3.2M Retail Center in Edwardsville, Illinois

by Kristin Harlow October 10, 2018

EDWARDSVILLE, ILL. — Contegra Construction Co. has completed a $3.2 million retail center known as Timberlake Village in Edwardsville, about 28 miles northeast of St. Louis. Developed by Kamadulski Crays Fischer LLC, property spans 10,000 square feet. Kyoto Japanese Steakhouse is the anchor tenant. An additional 3,000 square feet is available for lease. The 1.5-acre site includes 70 car parking spaces.

October 10, 2018

Acquisitions Midwest Ohio Retail

Encore Brokers $1.9M Sale of Rite Aid-Occupied Property in Cleveland

by Kristin Harlow October 10, 2018

CLEVELAND — Encore Real Estate Investment Services has brokered the sale of a single-tenant retail property occupied by Rite Aid in Cleveland for $1.9 million. Rite Aid has three years remaining on its 20-year lease at the 11,180-square-foot property. Brandon Hanna, Brent Hanna and Deno Bistolarides of Encore represented the seller in the transaction. Neither the buyer nor the seller was disclosed.

October 10, 2018

Colorado Loans Mixed-Use Multifamily Retail Western

HFF Arranges $50M in Financing for Mixed-Use Development in Denver

by Amy Works October 10, 2018

DENVER — HFF has arranged $50 million in financing for 210 St. Paul, the first phase of The St. Paul Collection, a mixed-use residential and retail property in Denver’s Cherry Creek North neighborhood. The borrower is BMC Investments. Brock Yaffe of HFF secured the 11-year, non-recourse, full-term, interest-only, fixed-rate loan through Freddie Mac’s Lease-Up Loan Program. The loan will replace existing construction financing and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. Located at the intersection of St. Paul Street and Second Avenue, The St. Paul Collection is a two-phase development. Completed in June, 210 St. Paul features 81 residences in a mix of one-, two- and three-bedroom floorplans, as well as penthouses, ranging in size from 770 square feet to 2,800 square feet. Additionally, the property includes 11,000 square feet of retail space leased to CB2. The second phase, which is not part of this financing, will bring an additional 84 residential units and 44,000 square feet of retail space. Designed by 4240 Architecture, the property features condo-quality finishes and modern open layouts with oversized living spaces, gourmet kitchens, full bathroom suites with heated floors, built-in closet systems, in-house automation, custom hardwood flooring, …

October 10, 2018

Acquisitions Nevada Restaurant Retail Western

Marcus & Millichap Negotiates $3.2M Sale of Taco Bell-Occupied Property in Fernley, Nevada

by Amy Works October 10, 2018

FERNLEY, NEV. — Marcus & Millichap has arranged the sale of a restaurant property located at 170 U.S. Highway 95-A South in Fernley. An undisclosed buyer acquired the property from a private family trust for $3.2 million. Taco Bell occupies the 2,860-square-foot property on a net-leased basis. Dustin Alvino of Marcus & Millichap represented the buyer and seller in the transaction.

October 10, 2018

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 16,760 SF Retail Asset in Fort Worth

by Taylor Williams October 9, 2018

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Park Vista Retail, a 16,760-square-foot retail asset in Fort Worth. Joe Santelli and Matthew Sheard of Marcus & Millichap represented the seller a private investor, in the transaction. The duo also procured the buyer, another private investor. Both parties requested anonymity.

October 9, 2018

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