Retail

The Stubblebine Company Brokers $1M Sale of Health Club Facility in Massachusetts

by Amy Works April 27, 2016

BURLINGTON, MASS. — The Stubblebine Company/CORFAC International has arranged the sale of a health club facility at 12 A St. in Burlington. Academy of Creative Arts acquired the property from Burlington Recreation Group for $1 million. The buyer, which is currently located at 217 Middlesex Turnpike, plans to relocate to the facility. Built in 1977, the 17,500-square-foot facility has been the site of several health clubs, including Gold’s Gym, Mad Maggie’s and Empire Fitness. David Stubblebine, James Stubblebine and Alan Ringuette of The Stubblebine Company procured the buyer and represented the seller.

April 27, 2016

Midwest Retail Wisconsin

Siegel-Gallagher Arranges 1,600 SF Retail Lease in Milwaukee Suburb

by Christina Cannon April 26, 2016

WAUKESHA, WIS. — Siegel-Gallagher has arranged a 1,600-square-foot retail lease in Waukesha, approximately 20 miles west of Milwaukee. The Richards Group Inc., a branding agency, will occupy space at Meadowbrook Marketplace, located at 601-921 Meadowbrook Road. Meadowbrook Marketplace LLC is the landlord. Devin Tessmer of Siegel-Gallagher brokered the transaction.

April 26, 2016

Georgia Mixed-Use Retail Southeast

North American Properties Unveils Tenant Roster for Phase II of Avalon

by John Nelson April 26, 2016

ALPHARETTA, GA. — North American Properties (NAP), developer of the 86-acre, $600 million Avalon development in Alpharetta, has announced nine retailers coming to Phase II of Avalon, which is set to open in spring 2017. The new merchants include Hop City and The Spotted Trotter, which will work together to form a beer garden; Rumi’s Kitchen; Brine Fish House; The Boardroom Salon for Men; Lucky Brand; Brooks Brothers; Levi’s; and Urban Outfitters. In addition to the retailers, Phase II will include 550,000 square feet of office space, 276 multifamily units, a 330-key hotel and a 74,000-square-foot conference center. Five new retailers are set to open in Phase I of Avalon within the next six months: Tesla, AYA Med Spa, Farm to Ladle, Parisian Nail Salon and Café Intermezzo. Phase I of Avalon is fully leased and Phase II is 80 percent preleased, according to NAP.

April 26, 2016

Loans Northeast Office Pennsylvania Retail

JV Receives $21.7M Acquisition Loan for Retail/Office Center Near Philadelphia

by Amy Works April 26, 2016

DREXEL HILL, PA. — A partnership between The Hampshire Companies and and MCB Real Estate has received $21.7 million in acquisition financing for Drexeline Shopping Center, a mixed-use center located at 4990-5100 State Road in Drexel Hill, a suburb of Philadelphia. Loan proceeds will be used for the acquisition and a secure line of credit for redevelopment and repositioning of the grocery-anchored shopping center. John Mikula and Michael Klein of HFF arranged the financing, which was provided by Flushing Bank, for the borrower. Situated on 18.4 acres and consisting of five buildings, Drexeline Shopping Center is occupied by more than 40 retail and office tenants, including Shop Rite, Ace Hardware, Anthony’s Restaurant, PNC Bank, Drexel Hill Pediatrics Associates and Children’s Dental Health Associates.

April 26, 2016

California Retail Western

InvenTrust Properties Acquires Stevenson Ranch Plaza for $72.5M

by Nellie Day April 26, 2016

STEVENSON RANCH, CALIF. — InvenTrust Properties Corp. has acquired Stevenson Ranch Plaza, a retail center located at 24917 Pico Canyon Road in Stevenson Ranch, a suburb 35 miles northwest of downtown Los Angeles. InvenTrust purchased the 187,035-square-foot asset from an undisclosed seller for $72.5 million. Ed Hanley and Kevin Fryman of Hanley Investment Group Real Estate Advisors represented the buyer and the seller in the transaction. Ralphs, LA Fitness, PetSmart and Stein Mart anchor the center. At the time of acquisition, the property was 97 percent occupied.

April 26, 2016

California Retail Western

Urban Commons to Transform Queen Mary into Retail/Dining District in Long Beach Harbor

by Nellie Day April 26, 2016

LONG BEACH, CALIF. — Los Angeles-based Urban Commons has assumed a 66-year master lease of the historic Queen Mary, a retired cruise ship docked in the Long Beach Harbor. The developer plans to transform the cruise ship and surrounding area into a retail, dining and entertainment district. The multi-phased project, which is slated to take several years, will begin with upgrades to the ship that will debut in mid-2017. The second phase of development will include constructing a mix of retail, dining and entertainment options on the 45 acres of currently underutilized oceanfront land adjacent to the ship. Urban Commons will work with the City of Long Beach, the Queen Mary Land Development Task Force and community on the review and approval process for the 45-acre project. Garrison Investment Group LLC previously held the master lease.

April 26, 2016

Nevada Retail Western

BIG Shopping Centers Sells Sahara Pavilion South in Las Vegas for $20.5M

by Nellie Day April 26, 2016

LAS VEGAS — Beverly Hills-based BIG Shopping Centers USA has sold Sahara Pavilion South, a 158,394-square-foot shopping center located in Las Vegas, to 3D Investments for $20.5 million. The center, located approximately 1.5 miles west of Las Vegas Boulevard, is home to tenants including Chipotle Mexican Grill, JP Morgan Chase, Einstein Bros. Bagels, Metro PCS, AT&T and Starbucks Coffee.

April 26, 2016

California Retail Western

Newmark Grubb Pearson Commercial Negotiates Two Retail Leases in California

by Nellie Day April 26, 2016

FRESNO, CALIF. — Newmark Grubb Pearson Commercial, a division of Pearson Realty, has arranged two retail leases in Fresno totaling 3,142 square feet. In the first transaction, Christopher Islas leased 912 square feet of space at 7723-B First St. from J&D Properties. The tenant plans to use the space for a barber shop. In the second deal, Fresno Ultimate Martial Arts leased 2,230 square feet of space at 7731 N. First St. from J&D Properties. Troy McKenney and Craig Holdener of Newmark Grubb Pearson Commercial brokered both transactions.

April 26, 2016

California Retail Western

Charles Dunn Co. Arranges $3.2M Sale of Union Bank in Suburban Los Angeles

by Nellie Day April 25, 2016

BELLFLOWER, CALIF. — Charles Dunn Co. has arranged the $3.2 million sale of a 5,000-square-foot, single-tenant, triple-net-leased property occupied by Union Bank in the Los Angeles suburb of Bellflower. Kyle Gulock and Jason Cope of Charles Dunn represented both the seller, a private investor from Orange County, and the buyer, a Chinese investor, in the transaction.

April 25, 2016

California Retail Western

Marcus & Millichap Brokers $1.6M Sale of 9,998 SF Retail Property in Victorville

by Nellie Day April 25, 2016

VICTORVILLE, CALIF. — Marcus & Millichap has arranged the sale of Bear Valley Road Center, a retail property located at 15610 Bear Valley Road in Victorville. The 9,998-square-foot property sold for $1.6 million. Constructed in 2007, the property comprises two buildings on separate parcels totaling 1.2 acres and 58 parking spaces. Kevin Le and Chuck Shillington of Marcus & Millichap’s Ontario, Calif., office represented the seller, a private investor, in the transaction.

April 25, 2016

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