Retail

San Diego Gas & Electric Gives Energy Efficiency Award for Petco’s San Diego HQ

by Nellie Day June 24, 2016

SAN DIEGO — San Diego Gas & Electric has given a Grand Energy Champion Award to Petco for the company’s San Diego headquarters. The 300,000-square-foot, pet-friendly facility was a former semi-conductor plant that expanded and relocated Petco’s support center from multiple buildings to one. More than 75 skylights and nearly 3,000 solar panels on the roof produce an 86 percent energy offset and allow the building’s lighting systems to run at only half capacity. Throughout the construction process, approximately 85 percent of all demolition materials were recycled. The building’s café uses highly efficient appliances to cook and prepare food for Petco’s partners. Outside, rain and runoff water flows through landscape elements around the building and parking lot that filter water through soil sediments. In return, water evaporates, instead of draining and polluting the ocean. The building’s energy efficiency is further accented by drought-tolerant landscaping and electric car charging stations for employee use.

June 24, 2016

Hospitality Massachusetts Mixed-Use Multifamily Northeast Office Retail

HYM, National Unveil Redevelopment of Government Center Garage in Boston

by Amy Works June 23, 2016

BOSTON — National Real Estate Advisors and The HYM Investment Group have unveiled plans to redevelop the Government Center Garage into Bulfinch Crossing, a six-building, 2.9 million-square-foot mixed-use development in Boston’s Bulfinch Triangle. Spanning two city blocks, Bulfinch Crossing will be anchored by One Congress, a 1 million-square-foot office tower designed by Pelli Clarke Pelli Architects. At full build-out, the development will feature three mid-rise buildings, including a hotel-and-condo building, an office building and a multi-story retail property, surrounding a new public plaza on the eastern side of the parcel, and One Congress and two high-rise residential buildings on the west parcel. Expected to break ground later this year, the project’s first high-rise residential component, designed by CBT Architects, will consist of 486 units, including 64 designated as affordable housing. In total, the mixed-use development will include 812 residential units, 196 hotel rooms, 1.15 million square feet of office space and 85,000 square feet of new retail space. Additionally, the property will feature a 1-acre rooftop amenity on the west parcel and a more than 1-acre public plaza on the east parcel. At completion of the overall redevelopment, the remaining portions of the existing garage will contain approximately 1,100 parking spaces …

June 23, 2016

The-Shops-at-Valley-Square-Warrington-PA

Northeast Pennsylvania Retail

CBRE Brokers Sale of 292,888 SF The Shops at Valley Square in Pennsylvania

by Amy Works June 23, 2016

WARRINGTON, PA. — CBRE has arranged the sale of The Shops at Valley Square, a 292,888-square-foot mixed-use lifestyle center located in Warrington. iStar Financial sold the property to a joint venture between affiliates of Poag Shopping Centers and real estate funds managed by Ares Management for an undisclosed sum. Built in 2007, the property features 203,953 square feet of first-floor retail space and 88,935 square feet of second-floor office space. Tenants at the center include DSW, ULTA, Banana Republic, White House|Black Market, Loft, P.F. Chang’s, Chipotle, Panera, The Melting Pot and Carmel Kitchen & Wine Bar. Brad Nathanson, Chris Decoufle and Kevin Reavey of CBRE represented the seller, while John Farrell of CBRE’s Debt and Structured Finance team arranged acquisition financing for the buyer.

June 23, 2016

Retail Texas

Fieldhouse USA to Open in Grapevine Mills in Metro Dallas

by Haisten Willis June 23, 2016

GRAPEVINE, TEXAS — Fieldhouse USA will open its second U.S. location at Grapevine Mills in Grapevine in early 2017. The indoor sports facility will bring youth and adult sport leagues and tournaments to the area. FieldhouseUSA is a league, event and tournament-based indoor sports facility projected to draw more than 1.6 million visitors annually to the new location. The 106,000-square-foot facility will feature nine basketball courts and nine volleyball courts offering league play in basketball, volleyball and indoor soccer. FieldhouseUSA also offers programs for performance training, all-sports camps, baseball/softball, birthday parties, boot camps, cheerleading, club volleyball, corporate events, dodge ball, lock-ins, skills training, taekwondo and tumble.

June 23, 2016

Restaurant Retail Texas

Henry S. Miller Purchases Shopping Center in Metro Dallas

by Haisten Willis June 23, 2016

NORTH RICHLAND HILLS, TEXAS — HSM Crossing LLC, an affiliate of Henry S. Miller Cos., has purchased The Crossing, a Kohl’s-anchored shopping center located at the northwest corner of Grapevine Highway and Precinct Line in North Richland Hills. The 188,000-square-foot retail center sits on 20 acres and was 89 percent leased at the time of sale to tenants including McAlister’s Deli, Unleashed by Petco, Red Hot & Blue and First Choice ER. HSM secured a five-year, non-recourse loan with L Star Capital Finance Inc. to fund the acquisition. Darrell Hurmis of Henry S. Miller represented HSM on the purchase.

June 23, 2016

Florida Retail Southeast

Avison Young Brokers $16.5M Sale of Shopping Center in Orlando

by John Nelson June 23, 2016

ORLANDO, FLA. — Avison Young has brokered the $16.5 million sale of West Colonial Oaks, a 160,792-square-foot shopping center located at 7150-7300 W. Colonial Drive in Orlando. Triarch Capital Group purchased the retail development from Noble Properties. The property is shadow-anchored by The Home Depot and leased to tenants such as Office Depot, Family Dollar, Fancy Fruit & Produce, Olive Garden and Ollie’s Bargain Outlet. John Crotty, Joshua Ladle, Steve Tanner and Ray Hayhurst of Avison Young represented Noble Properties in the transaction.

June 23, 2016

Maryland Retail Southeast

Greysteel Arranges $7.5M Sale of Shopping Center in Baltimore City

by John Nelson June 23, 2016

BALTIMORE CITY, MD. — Greysteel has arranged the $7.5 million sale of Waverly Towers, a 51,550-square-foot urban retail center located in Baltimore City. The property was 96 percent leased at the time of sale to tenants including Advance Auto Parts, Family Dollar, Fresenius Medical Care and Ashley Stewart. Gil Neuman, Joyce Swain and Cyrus Kashfian of Greysteel represented the seller, Waverly Commons LLC, and procured the buyer, Brentwood Village LLC, in the transaction.

June 23, 2016

Georgia Loans Retail Southeast

Bellwether Enterprise Closes $5.2M Refinance of Shopping Center in Metro Atlanta

by John Nelson June 23, 2016

SANDY SPRINGS, GA. — Bellwether Enterprise Real Estate Capital LLC has closed the $5.2 million refinance for Sandy Springs Village, a 40,944-square-foot shopping center located in Sandy Springs, a northern suburb of Atlanta. Built in 1977 on a 4.1-acre site, the property is leased to tenants such as Goodwill, Crossfit Perimeter and Huey Luey’s Mexican Restaurant, which is currently building out its restaurant.

June 23, 2016

Illinois Market Reports Midwest Midwest Market Reports Retail Uncategorized

Why Specialty Fitness Centers Are Enjoying a Healthy Run in Chicago

by Christina Cannon June 23, 2016

Today we have a choice in virtually every retail segment, and choosing a place for your favorite workout is no different. Specialty health clubs are a growing trend in Chicago, ranging from cycling at Flywheel or SoulCycle to high-impact cardio and weights at Shred415, Orange Theory or Barry’s Boot Camp. You can take ballet-inspired classes at Pure Barre, The Bar Method, Daily Method or The Barre Code, or yoga at Core Power Yoga, Yoga Six or Yoga By Degrees. You can even take rowing classes at GO Row or practice wake boarding with ChicagoSUP. But classes are not cheap, ranging from $20 to $30 per visit to unlimited yearlong memberships for $1,900. Despite the high price tag, these types of workouts are increasingly popular. While a full-service health club offers much more than just one type of workout, specialty fitness does just that — it specializes. Unique features These fitness classes focus on just one exercise, making the classes more challenging and better with teachers who are experts. They also provide different levels of classes compared with a gym, which may only offer one yoga, weight or spin class. Specialty fitness spaces are smaller than a full-service health club, but …

June 23, 2016

Colorado Retail Western

Pinnacle Arranges $4.1M Sale of 14,738 SF Retail Property in Metro Denver

by Nellie Day June 22, 2016

ARVADA, COLO. — Pinnacle Real Estate Advisors LLC has arranged the $4.1 million sale of Indiana Marketplace, a 14,738-square-foot shopping center located in the Denver suburb of Arvada. The property is located at 14805-14807 W. 64th Ave. Jeff Johnson and Matt Ritter of Pinnacle represented the undisclosed 1031 exchange buyer in the transaction.

June 22, 2016

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