Retail

Rubicon Realty Breaks Ground on 15,000 SF Retail Center in Metro Houston

by Taylor Williams December 4, 2017

MISSOURI CITY, TEXAS — Rubicon Realty Group has broken ground on Shops at Pebble Creek, a 15,000-square-foot retail center that will be located at the corner of State Highway 6 and Lake Olympia Parkway in the southwestern Houston metro of Missouri City. The property will offer 80-foot building depths and 5.45 parking spaces per 1,000 square feet. Construction is expected to be complete by the second quarter of 2018. Base rents are currently slated to start at $30 to $32 per square foot per year.

December 4, 2017

Fantini & Gorga Arranges $4.6M Acquisition Financing for Retail Property in Peabody, Massachusetts

by Amy Works December 4, 2017

PEABODY, MASS. — Boston-based Fantini & Gorga has secured $4.6 million in first mortgage acquisition financing for a retail property located at 216 Newbury St. in Peabody. Casimir Groblewski and Jon Garcia of Fantini & Gorga arranged the financing through a New England-based financial institution on behalf of a longtime client based in Eastern Massachusetts. Namco, Workout World, Mass Bay Hockey Center and Revival For All Nations Church occupy the 68,381-square-foot shopping center, which is situated on 6.2 acres. The new owner plans to remodel the exterior of the property and reconfigure the parking areas.

December 4, 2017

Maine Multifamily Northeast Retail

Cardente Real Estate Negotiates $1.9M Sale of Mixed-Use Property in Bangor, Maine

by Amy Works December 4, 2017

BANGOR, MAINE — Cardente Real Estate has arranged the sale of a mixed-use property and adjacent parking garage located at 105 Main St. in Bangor. Brick & Mortar Holding Group sold the asset to an undisclosed buyer for $1.9 million. The property features a total of 25 retail and apartment units. Mike Cobb of Cardente Real Estate represented the seller and buyer in the deal.

December 4, 2017

Hawaii Retail Western

HFF Arranges $43.6M Sale of Grocery-Anchored Center in Hawaii

by Nellie Day December 4, 2017

KAPAA, HAWAII — HFF has arranged the $43.6 million sale of Kauai Village, a 109,466-square-foot, grocery-anchored retail center in Kapaa, on the Hawaiian island of Kauai. Gleb Lvovich of HFF arranged the transaction on behalf of the seller, ValueRock Realty Partners. In addition, Kyle Spencer and John Chun of HFF secured $32.3 million in acquisition financing on behalf of the buyer, Epic Real Estate Partners. A life company provided the three-year, floating-rate loan. At the time of sale, Kauai Village was 81.2 percent leased to tenants including Safeway, Ross Dress for Less, Panda Express, Starbucks Coffee and ABC Stores.

December 4, 2017

Colorado Retail Western

Altar’d State Opens Boutique in Lone Tree, Colorado

by Nellie Day December 4, 2017

LONE TREE, COLO. — A new 6,088-square-foot Altar’d State store has opened in Lone Tree at the Park Meadows Mall. St. Louis-based Knoebel Construction completed construction on the chain’s 50th store in five years, working with the retailer across 26 states. The new Lone Tree location features Colorado-inspired furnishings, a rotating display window platform with graphics of Aspen tree trunks, and Aspen leaf design accents. The store is also one of the first to integrate checkout video monitors that display messages about the charitable causes Altar’d State supports. Since its start in 2009, Altar’d State has expanded from 13 employees to nearly 1,500. Today, Altar’d State operates nearly 90 boutiques in 30 states. Knoebel Construction, Inc. is a national general contractor specializing in retail center, restaurant, grocery, healthcare and retail store construction.

December 4, 2017

North Carolina Retail South Carolina Southeast

CBRE Brokers Sales of Three Grocery-Anchored Centers in Carolinas

by Camren Skelton December 1, 2017

CHARLOTTE, N.C. — CBRE has arranged the sales of three grocery-anchored centers in the Carolinas: Mountain Village in Jefferson, N.C.; Pine Needle Square in Smithfield, N.C.; and Westowne Shopping Center in Greenville, S.C. Mike Burkard and Steve Shields of CBRE arranged the transactions on behalf of the seller, Greensboro, N.C.-based Johnston Properties. The buyers and other terms of the transaction were not disclosed. Constructed in 1982, the 114,385-square-foot Mountain Village was fully leased at the time of sale to Food Lion, Rite Aid, Roses and Family Dollar. The 112,279-square-foot Pine Needle Square was constructed in 1975 and was 98 percent leased at the time of sale to tenants including Carlie C’s IGA, AutoZone, Citi Trends, Gallery Furniture and Pizza Hut. Westowne Shopping Center totals 121,839 square feet and was 94 percent leased at the time of sale to tenants including Bi-Lo, Roses Express, AutoZone and Cash America. The center was constructed in 1971.

December 1, 2017

Georgia Retail Southeast

PAC Acquires 74,370 SF Shopping Center in Atlanta’s Buckhead District

by Camren Skelton December 1, 2017

ATLANTA — Preferred Apartment Communities Inc. (PAC) has purchased Roswell Wieuca Shopping Center, a 74,370-square-foot retail center located at the corner of Roswell and Wieuca roads in Atlanta’s Buckhead district. PAC acquired the asset for an undisclosed price through its wholly owned subsidiary, New Market Properties LLC. Marcus & Millichap marketed the property on behalf of the seller, Brand Properties. A 22,921-square-foot Fresh Market grocery store anchors the center, which was fully leased at the time of sale to tenants including Willy’s, Ace Hardware, Chicken Salad Chick, Amazing Lash Studio, Abbadabba’s, Cheeseburger Bobby’s, Goldberg’s Bagel Co. & Deli and Sugarcoat Nail & Beauty Bar.

December 1, 2017

Florida Loans Retail Southeast

FM Capital Arranges $24.4M Refinancing of 340,000 SF Retail Center North of Tampa

by Camren Skelton December 1, 2017

PORT RICHEY, FLA. — FM Capital has arranged the $24.4 million refinancing of Embassy Crossing Shopping Center, a 340,000-square-foot retail center in Port Richey, roughly 40 miles north of Tampa. Yael Ishakis of FM Capital arranged the loan through a national bridge lender. The borrower was not disclosed. At the time of sale, Embassy Crossing Shopping Center was 88 percent leased to tenants including Bed Bath & Beyond, Michael’s, Petco, Olive Garden, Lane Bryant, Scottrade and the U.S. Post Office.

December 1, 2017

California Retail Western

Faris Lee Brokers $16.8M Sale of Single-Tenant Retail Property in San Francisco

by Nellie Day December 1, 2017

SAN FRANCISCO — Faris Lee Investments has arranged the sale of a freestanding retail property located at 1900 19th Ave. in San Francisco. Guilfoyl-Greenspan Trust sold the single-tenant property to First and Mission Properties for $16.8 million in a 1031 exchange. CVS/pharmacy will occupy the 17,920-square-foot building, which is undergoing a major renovation. Jeff Conover and Thomas Chichester of Faris Lee represented the seller, while Dan Lem of LemRx Realty Advisors represented the buyer in the deal.

December 1, 2017

California Retail Western

Progressive Real Estate Arranges $3.2M Sale of Retail Building in Riverside, California

by Nellie Day December 1, 2017

RIVERSIDE, CALIF. — Progressive Real Estate Partners has brokered the sale of a retail building located at 10000 Magnolia Ave. in Riverside. A San Bernardino-based private investor sold the property to a Laguna Beach-based development firm for $3.2 million. A portion of the 22,000-square-foot building is being renovated for the new tenant, the Social Security Administration, which is slated to open in 2018. Greg Bedell and Pablo Velasco of Progressive Real Estate represented the buyer and seller in the transaction.

December 1, 2017

Newer Posts

Older Posts