Retail

CBRE Brokers $5.2M Sale of Shopping Center in San Diego’s Point Loma

by Nellie Day January 19, 2018

SAN DIEGO — CBRE has arranged the sale of Midway Square, a multi-tenant shopping center located at 3112 Midway Drive in San Diego’s Point Loma district. Winston Square LLC sold the property to Midway Square LLC for $5.2 million. Reg Kobzi, Sam Alison, Mike Philbin and Amar Goli of CBRE represented the seller, while Andrew Slade of CIRE Partners represented the buyer in the deal. At the time of sale, the property was 100 percent leased. Express Time, Auto Serve Center, Suspension Plus and Smog Creek occupy the 15,271-square-foot, single-level retail center.

January 19, 2018

California Restaurant Retail Western

Big Al’s Leases 46,000 SF of Retail Space at McCarthy Ranch Marketplace in Silicon Valley

by Nellie Day January 19, 2018

MILPITAS, CALIF. — Big Al’s, a sports bar and entertainment chain, has signed a lease for 46,000 square feet of retail space at McCarthy Ranch Marketplace in Milpitas in Silicon Valley. TMS McCarthy LP is the landlord. Located at 15 Ranch Drive, Big Al’s Silicon Valley will be the company’s fifth center and second in California. The store is slated to open for business in late 2018.

January 19, 2018

New Jersey Northeast Retail

Marcus & Millichap Arranges Sale of 14,280 SF Retail Property in Hamilton, New Jersey

by Amy Works January 19, 2018

HAMILTON, N.J. — Marcus & Millichap has brokered the sale of a single-tenant retail property, located at 2021 Nottingham Way in Hamilton. A private developer sold the property to a private investor for $5.5 million. Walgreens occupies the 14,280-square-foot property on a net-leased basis. Karly Iacono of Marcus & Millichap represented the seller, while Iacono and Jonathan Zamora, also of Marcus & Millichap, represented the buyer in the deal.

January 19, 2018

Midwest Nebraska Retail

Darland Completes Construction of 180,000 SF Headquarters for Truck Center Cos. in Omaha

by Kristin Harlow January 19, 2018

OMAHA — Darland Construction Co. has completed the new corporate headquarters and dealership for Truck Center Cos. in Omaha. The 180,000-square-foot property is located on a 26-acre site at the corner of I-80 and Highway 50. The two-building project features a full-service body shop, 60 service bays, an on-site diesel tech training center and a 34,000-square-foot parts warehouse. Darland completed the project more than two months ahead of schedule. Schemmer was the project architect.

January 19, 2018

Retail Texas

HFF Negotiates Sale of 22,434 SF Shopping Center in San Antonio

by Taylor Williams January 18, 2018

SAN ANTONIO — HFF has negotiated the sale of Nacogdoches Crossing, a 22,434-square-foot shopping center located at 6826 N. Loop 1604 in northeast San Antonio. The property, which is shadow-anchored by a Walmart Supercenter and leased to tenants such as Taco Cabana and Rolling Oaks Dental, includes two acres of development-ready land that can accommodate about 19,000 square feet of additional retail space. John Taylor and Drew Fuller of HFF represented the seller, Santikos Real Estate Services, a San Antonio-based retail developer, in the transaction. A private investor purchased the asset free and clear of debt for an undisclosed price.

January 18, 2018

Loans Mixed-Use Office Restaurant Retail Southeast Tennessee

HFF Arranges $26.7M Construction Loan for Adaptive Reuse Project in Nashville

by Camren Skelton January 18, 2018

NASHVILLE, TENN. — HFF has arranged a $26.7 million construction loan for the adaptive reuse of the former May Hosiery textile mill in Nashville. The development is located at 425 to 431 Chestnut St. and 510 Houston St. in the city’s Wedgewood Houston neighborhood. Danny Kaufman and Christopher Knight of HFF arranged the two-year, floating-rate loan through LoanCore Capital on behalf of the borrower and developer, Chicago-based AJ Capital Partners. Proceeds of the loan will be used for the renovation and remaining lease-up of the property. Constructed in 1909, the 120,000-square-foot facility was originally home to May Hosiery, which made socks through most of the 20th century. AJ Capital Partners is redeveloping the property into a mixed-use space featuring 80,000 square feet of creative office space and 40,000 square feet of retail and restaurant space. In addition, the project will include a private rooftop terrace and central outdoor spaces. At the time of closing, the development was 47 percent preleased to Tuck-Hinton Architects, Southcomm Media, Dream Technologies, Parson’s Chicken & Fish and Blockhouse Barbers.

January 18, 2018

Retail Texas

TREK Brokers Sale of 8,200 SF Retail Center in North Austin

by Taylor Williams January 17, 2018

AUSTIN, TEXAS — TREK Investment Group has brokered the sale of Tech Ridge Center, an 8,200-square-foot retail center in north Austin. Built in 2017, the Class A center was 100 percent leased at the time of sale to Orangetheory Fitness, Smoothie King and Mattress One. Parker Carroll of TREK represented the undisclosed buyer in the transaction. Other terms of sale were not released.

January 17, 2018

New Jersey Northeast Retail

Prestige Properties Purchases 426,436 SF Shopping Center in Mount Laurel, New Jersey, for $130M

by Amy Works January 17, 2018

MOUNT LAUREL, N.J. — New York City-based Prestige Properties has acquired Centerton Square, a shopping center located at 2 Centerton Road in Mount Laurel. Black Creek Diversified Property Fund sold the property for $130 million. Wegmans anchors the 426,436-square-foot regional shopping destination. At the time of sale, the property was fully leased to more than 40 tenants, including DSW Shoes, TJ Maxx, Bed Bath & Beyond and Burlington, which is slated to open soon.

January 17, 2018

Loans Mixed-Use Multifamily Northeast Pennsylvania Retail

Trez Forman Capital Arranges $6.7M Loan for Mixed-Use Project in Philadelphia

by Amy Works January 17, 2018

PHILADELPHIA — Boynton Beach, Fla.-based Trez Forman Capital Group has arranged a $6.7 million loan for the development of a mixed-use project located in Philadelphia. The borrower, Gagandeep Lakhama of 1413 Germantown LLC, plans to develop a six-story, 50-unit apartment building with 5,500 square feet of ground-floor commercial space on a 14,625-square-foot site at 1413 Germantown Ave. Ryan Howard of Trez Forman originated the loan. This is the first time Trez Forman has done business in the state of Pennsylvania.

January 17, 2018

Florida Retail Southeast

Investment Properties Arranges $14M Sale of Retail Building in Naples

by Camren Skelton January 17, 2018

NAPLES, FLA. — Investment Properties Corp. has arranged the $14 million sale of a retail building located at 990 1st Ave. N. in Naples. Hoffman Commercial Real Estate acquired the 11,560-square-foot building from NRE Design Park LLC. David Stevens of Investment Properties Corp. arranged the transaction.

January 17, 2018

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