Retail

TWO SELF-STORAGE PROPERTIES IN FLORIDA SELL TO LIMITED LIABILITY COMPANY

by admin March 20, 2013

SPRING HILL AND DAVENPORT, FLA. — Marcus & Millichap has arranged the $4 million sale of Highway 19 Self Storage, a 386-unit self-storage facility in Spring Hill, and Secured Storage, a 320-unit self-storage facility in Davenport. Built in 2000, Highway 19 Self Storage is located at 1000 Commercial Way and includes 41,206 square feet. Secured Storage was built in 1999 and is located at 2825 Jacks Road. Ray Turchi and Christopher Travis of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Dan Burkons and Richard Schontz of Marcus & Millichap represented the buyer, also a limited liability company.

March 20, 2013

MARCUS & MILLICHAP ARRANGES SALE OF $1.7M SAVE-A-LOT PLAZA IN NEW JERSEY

by admin March 20, 2013

MILLVILLE, N.J. — Marcus & Millichap has arranged the sale of Save-A-Lot Plaza, a 33,705-square-foot, grocery-anchored shopping center in Millville, for $1.7 million. The shopping center is located at 622 N. Second St. and is co-anchored by a 17,205-square foot Save-A-Lot supermarket and an 8,100-square-foot Family Dollar. Other tenants include Little Caesars Pizza and a Chinese restaurant. At the time of the sale, the property was 82 percent occupied. Save-A-Lot Plaza was redeveloped in 2008 for its current anchor tenants. Brad Nathanson, senior director in Marcus & Millichap’s Philadelphia office, secured the buyer, a Pennsylvania-based limited partnership. New Vistas Corp. represented the seller, a New Jersey-based financial institution.

March 20, 2013

Retail Texas

JOHNSON CAPITAL ARRANGES $4.2M LOAN FOR OKLAHOMA SHOPPING CENTER

by admin March 20, 2013

BROKEN ARROW, OKLA. — Johnson Capital has arranged a $4.2 million loan to refinance the Mayfair Shopping Center, a 64,935-square-foot shopping center, and a ground lease held by Arvest Bank in Broken Arrow, a suburb of Tulsa. Jason Pumpelly of Johnson Capital's Dallas office, along with Brett Patrick of the firm's Tulsa office, arranged the 10-year loan through Morgan Stanley. The loan has a 30-year amortization schedule and a fixed rate of mid 4-percent.

March 20, 2013

Retail Western

ROSS DRESS FOR LESS OPENS AT MONTEBELLO PLAZA

by admin March 19, 2013

MONTEBELLO, CALIF. – A 25,000-square-foot Ross Dress for Less has opened at Montebello Plaza. The plaza is located at 2401-2629 W. Via Campo Road in Montebello. Ross was represented by Epsteen & Associates. Montebello Plaza’s landlord, Brixmor Property Group, was represented in-house by Gavin Gray.

March 19, 2013

Retail Southeast

NEW 135,000-SQUARE-FOOT TARGET TO OPEN IN CARY

by admin March 19, 2013

CARY, N.C. — Target plans to open a new 135,000-square-foot store in Cary by March 2014. The new store, located on O'Kelly Chapel Road, will be part of the Parkside Town Commons shopping center. This will be the second Target store in Cary. Along with everyday essentials, the new location will offer fresh produce, fresh packaged meat and pre-packaged baked goods, as well as Starbucks and Target Pharmacy. The store will employ approximately 200 workers.

March 19, 2013

Retail Southeast

RETAIL PROPERTY LEASED TO GOODYEAR SELLS FOR $2.3M IN SOUTH CAROLINA

by admin March 19, 2013

MT. PLEASANT, S.C. — Pastime Amusement Co. has acquired a retail property that is fully leased to Goodyear Auto Service Center in Mt. Pleasant for $2.3 million. The building is located at 1406 Ben Sawyer Blvd. Terry Ansley and Glenn Goodwin of Landmark Enterprises Brokerage Group represented the seller, Palmetto Development of Columbia Inc. Leonard Way of The Beach Co. represented the buyer.

March 19, 2013

Midwest Retail

LUTTNER BROKERS SALE OF 8,000 SF RETAIL PROPERTY FOR $1.4M

by admin March 19, 2013

TOLEDO, OHIO — Luttner Real Estate Investment Services has brokered the sale of a new building occupied by Family Dollar for $1.4 million. Family Dollar has signed a 10-year lease for the space located at 1121 W. Bancroft St. in Toledo. Mark Luttner marketed the 8,000-square-foot property on behalf of the seller, a private developer.

March 19, 2013

Retail Western

ROSS DRESS FOR LESS OPENS AT MONTEBELLO PLAZA

by admin March 19, 2013

March 19, 2013

Retail Western

TROUTDALE COMMONS RECEIVES $5.6M IN REFINANCING

by admin March 18, 2013

TROUTDALE, ORE. — Troutdale Commons,a 39,388-square-foot, grocery-anchored shopping centerin Troutdale, has received $5.6 million in first-mortgage refinancing. Major tenants at the center include Albertson’s, Starbucks and Walgreens. Financing was arranged by Bob Spiro of NorthMarq’s Seattle regional officethrough its relationship with a correspondent life company lender. Financing was based on a 15-year term and a 20-year amortization schedule.

March 18, 2013

Midwest Retail

KKR, RED LEGACY ACQUIRE LEGENDS OUTLETS KANSAS CITY FOR $131.5M

by admin March 18, 2013

KANSAS CITY, KAN. — Kohlberg Kravis Roberts & Co. LP (KKR) and RED Legacy have acquired the Legends Outlets Kansas City located in Kansas City for $131.5 million, according to Bloomberg. Legends Outlets Kansas City is home to nearly 100 designer and brand name stores, restaurants and entertainment venues including Saks Fifth Avenue OFF 5TH, Ann Taylor Factory Store, Brooks Brothers Factory Store, Cole Haan, Levi's Outlet, Nike Factory Store, Polo Ralph Lauren Factory Store and Under Armour. Located in Village West, the property opened to shoppers in 2006. KKR and RED Legacy plan to focus on attracting additional retailers.

March 18, 2013

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