Retail

CBRE Arranges $40M Sale of New Retail Center Near Los Angeles

by Nellie Day January 26, 2018

WHITTIER, CALIF. — CBRE has arranged the $40 million sale of Friendly Hills Marketplace, an 89,826-square-foot shopping center in Whittier, located 20 miles southeast of Los Angeles. Philip Voorhees, Kirk Brummer, James Tyrrell, Megan Wood, Preston Fetrow and Jim Leary of CBRE arranged the transaction on behalf of the seller and property developer, Oppidan Inc. Golden Capital Whittier LLC acquired the asset. Bruce Francis and Shaun Moothart of CBRE arranged acquisition financing on behalf of the buyer. Constructed in 2017, Friendly Hills Marketplace is fully leased to tenants including Orchard Supply Hardware, HomeGoods, ULTA Beauty and Sketchers.

January 26, 2018

California Retail Western

ValueRock Realty Acquires Two Retail Properties in California for $28.4M

by Nellie Day January 26, 2018

ALBANY AND FOLSOM, CALIF. — ValueRock Realty Partners has purchased two retail properties in Albany and Folsom. The company acquired University Village at 1075-1095 Monroe St. in Albany for $19.2 million and Sprouts Farmers Market at 90 S.E. Bidwell St. in Folsom for $9.2 million. Twin Cities-based Oppidan sold the properties. University Village is occupied by Sprouts Farmers Market, Pet Food Express, Starbucks Coffee, Banfield Pet Hospital and The Habit Burger. Located in Folsom, the Sprouts Farmers Market was recently converted into a Sprouts from an Orchard Supply Hardware.

January 26, 2018

California Retail Western

Baker Ranch Investment Buys Retail Center for $4.8M in Lake Forest, California

by Nellie Day January 26, 2018

LAKE FOREST, CALIF. — Baker Ranch Investment LLC acquired Baker Ranch Center, a retail center located at 20491 Alton Parkway in Lake Forest, for $4.8 million. The 6,000-square-foot property is 100 percent triple-net leased to four tenants, including Tenko Sushi & Teriyaki, Ameci Pizza, Sage Nail Lounge and Sheesh Lebanese Kitchen. Patrick Toomey, Thomas Chichester, Joseph Chichester and Matt Brooks of Faris Lee represented the seller, Shea/Baker Ranch, while John Carpenter from The 949 Group represented the buyer in the deal.

January 26, 2018

California Retail Western

Scott Holmes to Lead Marcus & Millichap’s National Retail Division

by Nellie Day January 26, 2018

CALABASAS, CALIF. — Marcus & Millichap has hired Scott Holmes as senior vice president and national director of its retail division. The industry veteran will be responsible for directing the firm’s retail business strategy nationwide. Most recently, Holmes served as senior vice president at Cole Real Estate Investments Inc., where he was responsible for leading the company’s shopping center acquisitions team, overseeing national investment activities and sourcing acquisitions nationally. Holmes has held leadership roles at AEW Capital Management LP and American Realty Advisors. Over the course of his career, he has closed more than $6 billion in commercial real estate transactions.

January 26, 2018

Retail Texas

CBRE Brokers Sale of 122,349 SF Grocery-Anchored Shopping Center in Austin

by Taylor Williams January 26, 2018

AUSTIN, TEXAS — CBRE has brokered the sale of Market at Parmer, a 122,349-square-foot shopping center located on Austin’s north side. San Antonio-based grocer H-E-B anchors the property, which was about 96 percent leased at the time of sale. Other tenants at Market at Parmer include Anytime Fitness, Pet Supplies Plus and Twin Liquors. Chris Cozby, Chris Gerard and Blaine Dozier of CBRE represented the undisclosed seller in the transaction. Other terms of sale were not released.

January 26, 2018

Florida Retail Southeast

Nike Factory Store to Open at Celebration Pointe in Gainesville

by Camren Skelton January 26, 2018

GAINESVILLE, FLA. — Representatives of Celebration Pointe have inked a new lease with Nike Factory Store. Celebration Pointe Holdings LLC — a partnership between RaCo Real Estate LLC and Viking Cos. — is leading the 160-acre mixed-use development, located at I-75 and Archer Road in Gainesville. At full build-out, Celebration Pointe will span more than 1 million square feet and will include office and retail space, residential units and a mix of experiential and entertainment venues. Nike will join Bass Pro Shops, which opened in 2016, as an anchor tenant at the development. A 10-screen Regal RPX theater will open at Celebration Pointe this spring, and a 140-room Hotel Indigo will open in the summer.

January 26, 2018

Northeast Retail Rhode Island

Unison Realty, Blue Vista Capital Buy Shopping Center in Rhode Island for $15.8M

by Amy Works January 26, 2018

NORTH KINGSTOWN, R.I. — A joint venture between Unison Realty Partners and Blue Vista Capital Management has purchased Hunt River Commons, a shopping center located in North Kingstown, for $15.8 million. Anchored by Stop & Shop and Marshalls, the 147,270-square-foot property was 84 percent leased at the time of acquisition. Additional tenants include Planet Fitness, GNC and Citizen’s Bank. The shopping center was constructed in 1989. The Wilder Cos. will serve as property manager and leasing agent for the center. This acquisition is the first joint venture between Unison Realty Partners and Blue Vista Capital Management. Nat Heald of JLL brokered the acquisition.

January 26, 2018

New Jersey Northeast Retail

Regency Centers Acquires 66,000 SF Retail Center in Metuchen, New Jersey

by Amy Works January 26, 2018

METUCHEN, N.J. — Regency Centers has purchased The District at Metuchen, a retail center located in Metuchen, for an undisclosed price. Whole Foods Market anchors the 66,000-square-foot shopping center. Additional tenants include Comida Fresca, European Wax, Title Boxing and Chipotle. The name of the seller was not released.

January 26, 2018

Northeast Pennsylvania Retail

EXP Realty Advisors Arranges $12.2M Sale of Retail Property in Quakertown, Pennsylvania

by Amy Works January 26, 2018

QUAKERTOWN, PA. — EXP Realty Advisors has brokered the sale of a retail property located at 616 N. West End Blvd. in Quakertown. A New York City-based real estate investor acquired the property for $12.2 million in a 1031 exchange. BJ’s Wholesale Club occupies the 85,000-square-foot property. Andrew Greenberg and Daniel de Sa’ of EXP Realty Advisors brokered the transaction.

January 26, 2018

Midwest Missouri Restaurant Retail

Copaken Brooks Completes Lease-up of Retail Space at Kansas City Office Building

by Kristin Harlow January 26, 2018

KANSAS CITY, MO. — Copaken Brooks has completed the lease-up of the retail space at its Town Pavilion office building in Kansas City. The property totals 840,642 square feet with 30,372 square feet of first-floor retail space. Three new tenants — Johnny C’s Deli & Pasta, Chick N Pie and Ruby Jean’s Juicery — have signed leases at the property. Johnny C’s is a local Italian deli that serves pastas, sandwiches and salads. Chick N Pie will occupy the space formerly home to Pizza Hut and KFC Express. The quick-service concept, from the same owners of Plowboys BBQ, serves chicken, burgers, pizza and salads. Ruby Jean’s Juicery specializes in smoothies, juices, performance shakes and snacks. The company has five other locations.

January 26, 2018

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