Retail

Construction Begins on 290,000 SF Toyota Dealership in Downtown Los Angeles

by Nellie Day June 17, 2016

LOS ANGELES — Shammas Group is developing a new Toyota dealership at the corner of Figueroa Street and Washington Boulevard in downtown Los Angeles. The four-story, 290,000-square-foot facility will feature a 22,600-square-foot, two-story showroom with a vehicle display, a 40-bay below-grade service department, and a wholesale and retail parts boutique. The project is slated for completion in fall 2017. Trammell Crow Co. is developing the building, PDS Architects is serving as project architect, ConAm Building Co. is serving as the contractor and Ware Malcom is overseeing interior design and tenant improvement.

June 17, 2016

California Retail Western

NAI Capital Negotiates $3.6M Sale of Red Lobster Property in Valencia

by Nellie Day June 17, 2016

VALENCIA, CALIF. — NAI Capital has arranged the $3.6 million sale of a Red Lobster property located at 27524 The Old Road in Valencia. Simonian Family 2008 Trust acquired the 9,487-square-foot property as a single-tenant, net-leased, fee-interest investment from Marquis Valley View LLC. Situated on 1.1 acres, Red Lobster has occupied the property since 1986. Yair Haimoff, Randy Cude and Steve Body of NAI Capital represented the seller in the transaction.

June 17, 2016

California Restaurant Retail Western

Habit Burger Grill, Chipotle Mexican Grill Join Peninsula Shopping Center

by Nellie Day June 17, 2016

ROLLING HILLS ESTATES, CALIF. — Two restaurants have joined Peninsula Shopping Center at 67 Peninsula Center in Rolling Hills Estates. Habit Burger Grill and Chipotle Mexican Grill both opened 2,500-square-foot restaurants across from the Pavilions. The fast-casual chain Habit Burger Grill focuses on its signature Charburgers, salads, sandwiches, shakes and french fries. Chipotle Mexican Grill specializes in Mission burritos, tacos, bowls and salads. Peninsula Shopping Center features more than 45 stores and eateries.

June 17, 2016

Connecticut Northeast Retail

Katz Properties Acquires 147,241 SF Shopping Center in Connecticut for $21.6M

by Amy Works June 17, 2016

WATERBURY, CONN. — Katz Properties has acquired Mattatuck Commons, a shopping center in Waterbury, for $21.6 million. Situated on 17.72 acres along Route 69, the center features 147,241 square feet of retail space. At the time of sale, the property was 78 percent occupied by a variety of national tenants, including ShopRite, Sleepy’s, Goodwill, GameStop and Taco Bell. The name of the seller was not released.

June 17, 2016

Midwest Ohio Retail

Marcus & Millichap Brokers $4.9M Sale of Net-Leased Retail Building in Ohio

by Christina Cannon June 17, 2016

WILMINGTON, OHIO — Marcus & Millichap has brokered the $4.9 million sale of a property net leased to JD Equipment in Wilmington, approximately 50 miles northwest of Cincinnati. JD Equipment carries John Deere, Hustler and Stihl farming and agriculture products. A limited liability company sold the 30,266-square-foot property, which is located at 7550 U.S. Route 68. John Reehil and Dan Yozwiak of Marcus & Millichap listed the property on behalf of the seller. Darpan Patel, Joel Dumes, Stan Falk and Steve Anevski of Marcus & Millichap represented the buyer, a limited liability company, in the transaction.

June 17, 2016

Retail Texas

Bright Realty Brokers Lease of 24,080 SF Retail Property in Irving

by Haisten Willis June 17, 2016

IRVING, TEXAS — Bright Realty has brokered the lease for a new Half of Half Name Brand Clothing store in Irving. The 24,080-square-foot store will be located at 3539 W. Airport Freeway. Kerry Assa and Britton Lankford of Bright Realty represented the unnamed landlord. Jennifer Reynolds with The Retail Connection represented the tenant.

June 17, 2016

Kentucky Retail Southeast

Shopping Center Group Arranges $23.8M Sale of Retail Center in Louisville

by John Nelson June 17, 2016

LOUISVILLE, KY. — The Shopping Center Group has brokered the $23.8 million sale of Westport Village, a 169,000-square-foot retail center in Louisville. The property is situated between Herr and Lyndon lanes about a half-mile east of I-264. The shopping center was 73 percent leased at the time of sale to tenants such as Apricot Lane, Collections, Chartreuse, Tunies, Napa River Grill, The Comfy Cow, Hik-A-Mon Sushi Bar and Fish Market, Wild Eggs, Artesano, Boombozz Tap House, Pure Barre, Bend and Zen Hot Yoga and Elements Therapeutic Massage. Anthony Blanco, Lynn De Marco, Lenard Williams and Mallory Ham of The Shopping Center Group represented the seller, Chicago-based InvenTrust Properties Corp., in the transaction. Kevin Schreiber and Kevin Mayhugh of The Shopping Center Group’s Louisville office assisted in the transaction. The buyer is a joint venture affiliated with Atlanta-based Hendon Properties and Birmingham, Ala.-based Harbert Management.

June 17, 2016

Illinois Midwest Mixed-Use Retail Top Stories

Intercontinental Real Estate Sells Retail, Entertainment Property in Chicago for $133M

by Christina Cannon June 17, 2016

CHICAGO — Intercontinental Real Estate Corp. has sold the River East Center, a 251,060-square-foot, mixed-use property in the Streeterville area of downtown Chicago. A joint venture between Wheelock Street Capital and Madison Capital purchased the center for $133 million, according to Crain’s Chicago. The buyer has plans to rebrand the property, which is situated on 2.8 acres encompassing an entire city block. Intercontinental Real Estate paid $117.5 million for the property in early 2006, according to Crain’s. The three-story retail and entertainment complex sits on top of a four-story underground parking garage with 1,154 spaces. The property also features an 18-story Embassy Suites hotel and a 58-story, 620-unit luxury condominium tower, neither of which are included in the sale. Tenants at the retail and entertainment center include AMC Theatres, Lucky Strike, LA Fitness, FTW Chicago, Walgreens, Bright Horizons, NIU Sushi, Bellwether restaurant and BMO Harris Bank. Located at 322 E. Illinois St., River East Center is 97.8 percent leased. HFF arranged financing for the transaction. — Christina Cannon

June 17, 2016

Retail Washington Western

Togo’s Opens First of Several Restaurant Locations in Washington

by Nellie Day June 16, 2016

KENT, WASH. — Togo’s Eateries LLC is has opened the first of several locations planned in Washington State. The first restaurant is located at Kent Station in Kent, Wash. Togo’s Eateries was founded in 1971 by a college student, and now has more than 300 locations open and under development throughout the West.

June 16, 2016

California Retail Western

Lee & Associates Arranges $8.7M Sale of North Canyon Ranch Shopping Center in Glendale

by Nellie Day June 16, 2016

GLENDALE, ARIZ. — Lee & Associates has arranged the $8.7 million sale of North Canyon Ranch, a 70,428-square-foot, Goodwill-anchored shopping center located in Glendale. Pat Dempsey and Jan Fincham of Lee & Associates represented the seller, PLC Pinnacle Peak LLC, in the transaction. First Ave/Wetmore Office Plaza LLC acquired the property through a 1031 exchange.

June 16, 2016

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