Retail

NAI HIFFMAN REPRESENTS JEWEL IN DES PLAINES DMV LEASE

by admin September 10, 2013

DES PLAINES, ILL. — The Department of Motor Vehicles (DMV) has signed a 9,000-square-foot lease at a shopping center located at 1500 Lee St. in Des Plaines, a northwest suburb of Chicago. The new DMV will open in October. The building is located between Forest Avenue and Oakton Street. Jennifer Hopkins, Mike Meksto and Jim Tsevis of NAI Hiffman’s retail services group, represented the landlord, Jewel Food Stores Inc., in the transaction. A 53,000-square-foot Jewel grocery store anchors the center, which has an additional 16,458 square feet of retail space, including the space that the DMV will occupy.

September 10, 2013

HFF BROKERS SALE, ARRANGES FINANCING IN HOUSTON RETAIL ACQUISITION

by admin September 10, 2013

HOUSTON — HFF has brokered the sale of and arranged the acquisition financing for Easton Commons, a 193,595-square-foot shopping center in Houston’s Copperfield master-planned community. The property, which was 86 percent leased at the time of the sale, is anchored by Kroger and Studio Movie Grill. Rusty Tamlyn, Ryan West and Matt Berry of HFF represented the seller, a joint venture between affiliates of The Hutensky Group and an investment account managed by American Realty Advisors. Adam Herrin, Andy Scott, Cameron Cureton and Michael George of HFF arranged the loan through BBVA Compass Bank. NewQuest Epic Investments and an institutional partner purchased the property.

September 10, 2013

Retail Western

WEST VALLEY MALL IN TRACY RECEIVES $52M REFINANCE

by admin September 9, 2013

TRACY, CALIF. – The West Valley Mall in Tracy has received a $52-million refinance. The 886,903-square-foot shopping center is located at 3200 Naglee Road along I-205, which connects the San Francisco Bay Area with San Joaquin County. The mall is anchored by Macy's, Target, Sears and JC Penney. Other notable tenants include Bath and Body Works, Foot Locker, The Children's Place, Victoria's Secret and Zumiez.The non-recourse mortgage carries a floating interest rate of LIBOR plus 175 bps. It matures in five years, and includes a five-year extension option. The mall is owned by Rouse Properties.

September 9, 2013

Midwest Retail

COOPER BROKERS $4.1M SALE OF BELDEN VILLAGE COMMONS

by admin September 9, 2013

JACKSON TOWNSHIP, OHIO — The Cooper Commercial Investment Group has arranged the $4.1 million sale of Belden Village Commons in metro Canton. Dan Cooper, president and broker of Cooper Commercial Investment Group in Cleveland, represented the sellers, private investors based in northern Ohio. A northern California-based private investor was the buyer. The sales price represents a 7.9 percent capitalization rate. The 13,216-square-foot shopping center is located at 4800 Everhard Road in Jackson Township. All tenants are under triple-net leases at the fully occupied property.

September 9, 2013

Retail Texas

HENRY S. MILLER BROKERS 46,224 SF SHOPPING CENTER SALE IN LEWISVILLE

by admin September 9, 2013

HOUSTON — Henry S. Miller Brokerage has arranged the sale of the Campbell Road Shopping Center in the Northwest Spring Valley suburb of Houston on behalf of W&B International. The 46,224-square-foot property is situated on 1.06 acres at 1012 Campbell Road. Bruce Jester of Henry S. Miller represented the seller. Matthew Goldsby of Belovoir Real Estate Group LLC represented the buyer, Dr. Suhyun Ahn of C1 Health Care Management LLC, who plans to convert the center to a chiropractic clinic.

September 9, 2013

Retail Texas

DISCOUNT GROCER WINCO EXPANDS INTO TEXAS WITH DALLAS/FORT WORTH LOCATION

by admin September 9, 2013

LEWISVILLE, TEXAS — The Weitzman Group and Cencor Realty Services have arranged a lease for the first Dallas/Fort Worth metro area location of WinCo, a Boise, Idaho-based discount grocery chain. The store will occupy 85,000 square feet at the Old Orchard Village East shopping center in Lewisville, which will undergo extensive renovations in conjunction with the new tenant’s arrival. Old Orchard Village East was originally anchored by Walmart after its development in the 1970s. Current tenants include Hancock Fabrics, The Leather Sofa Co., Fuzzy’s Taco Shop and more. Matt Luedtke and Blake Shipp of the Weitzman Group, along with Cencor’s David McNeil, represented property owner Old Orchard LLC in the negotiations. Don Woodbury of DWC Commercial and McGregor Converse of Venture Commercial represented WinCo.

September 9, 2013

Retail Western

WEST VALLEY MALL IN TRACY RECEIVES $52M REFINANCE

by admin September 9, 2013

TRACY, CALIF. – The West Valley Mall in Tracy has received a $52-million refinance. The 886,903-square-foot shopping center is located at 3200 Naglee Road along I-205, which connects the San Francisco Bay Area with San Joaquin County. The mall is anchored by Macy's, Target, Sears and JC Penney. Other notable tenants include Bath and Body Works, Foot Locker, The Children's Place, Victoria's Secret and Zumiez. The non-recourse mortgage carries a floating interest rate of LIBOR plus 175 bps. It matures in five years, and includes a five-year extension option. The mall is owned by Rouse Properties.

September 9, 2013

Retail Southeast

M&M BROKERS SALE OF ST. PETERSBURG RETAIL PROPERTY FOR $2.3M

by admin September 5, 2013

ST. PETERSBURG, FLA. — Marcus & Millichap has arranged the $2.3 million sale of Florida Federal Plaza, a 33,147-square-foot retail property located at 850 49th St. in St. Petersburg. Save-a-Lot Grocery and Dollar General anchor the center. Moe Derbala of Marcus & Millichap's Tampa office represented the seller, a private investor, in the transaction. Derbala also secured the buyer, a private investor from Clearwater, Fla.

September 5, 2013

Northeast Retail

REIT BUYS 196,728 SF SHOPPING CENTER IN ERIE FOR $21.4M

by admin September 5, 2013

ERIE, PA. — Phillips Edison–ARC Shopping Center REIT Inc. has acquired Yorktown Centre, a 196,728-square-foot shopping center in Erie, for $21.4 million. A Giant Eagle grocery store occupies 44.4 percent of the property. Yorktown Centre is fully leased to 29 tenants. The seller was 79 Realty Corp. Phillips Edison is a public, non-traded REIT focused on the acquisition and management of grocery-anchored neighborhood shopping centers throughout the United States.

September 5, 2013

Northeast Retail

M&M ARRANGES $2.9M SALE OF 13,082 SF RETAIL PROPERTY

by admin September 5, 2013

AVENEL, N.J. — Marcus & Millichap has arranged the $2.9 million sale of a 13,082-square-foot retail property in Avenel, a southern suburb of Newark. Family Dollar and Mosaic Spa occupy the property, which is located at 1392 St. Georges Ave. Michael Lombardi, a senior associate in Marcus & Millichap’s New Jersey office, marketed the property on behalf of the seller, a developer. Lombardi also represented the buyer, a private investor. This retail building was renovated in 2012, which included a new roof and parking lot.

September 5, 2013

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