Retail

9,338 SF SHOPPING CENTER IN ORLAND PARK SELLS FOR $3.9M

by admin March 26, 2013

ORLAND PARK, ILL. — Lowe’s Retail Center, a 9,338-square-foot retail property in Orland Park, has sold for $3.9 million. The triple-net-leased property, which is located at 15619 S. La Grange Road, is fully occupied. Brian Parmacek and Stephen Rachman of Marcus & Millichap represented the seller, a developer, in the transaction. Steve Livaditis of Marcus & Millichap represented the buyer, a long-term apartment investor. Jim Sotos of Marcus & Millichap Capital Corp. secured the 10-year acquisition loan for the property.

March 26, 2013

M&M ARRANGES SALE OF ANTIQUE STORE IN SPRING

by admin March 26, 2013

SPRING, TEXAS — Marcus & Millichap has brokered the sale of an 82,952-square-foot retail building leased to The Antique Gallery of Houston in Spring. The store is located at 21127 Spring Towne Drive. The property's list price was $2.875 million. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a partnership, in the transaction. Goldstein also secured and represented the buyer, a private investor.

March 26, 2013

Retail Texas

CYCLES TX TO OPEN FIRST TEXAS LOCATION IN THE WOODLANDS

by admin March 26, 2013

THE WOODLANDS, TEXAS — Cycles TX has plans to open its first bicycle and accessories store in Texas at The Waterway Square District in The Woodlands Town Center. The store will be located at 1501 Lake Robbins Drive in The Waterway Square parking garage. Brent Everson of Everson Developments LLC represented Cycles TX in the lease transaction. Rip Reynolds of The Howard Hughes Corp. represented the landlord, The Woodlands Development Co., a subsidiary of The Howard Hughes Corp.

March 26, 2013

Retail Western

L STREET SELF STORAGE PARK IN CHULA VISTA RECEIVES $6.3M LOAN

by admin March 26, 2013

CHULA VISTA, CALIF. — L Street Self Storage Park, an 86,770-square-foot self-storage facility in Chula Vista, has received $6.3 million in permanent financing. The non-recourse loan features a 10-year term with a 30-year amortization period. It was arranged by James Dick of Newmark Realty Capital.

March 26, 2013

Retail Western

ASHLEY FURNITURE HOMESTORE OPENS AT EASTLAND CENTER IN WEST COVINA

by admin March 25, 2013

WEST COVINA, CALIF. – A 42,000-square-foot Ashley Furniture HomeStore has opened at Eastland Center in West Covina. The stand-alone building was previously occupied by Babies “R” Us. It is located 2753 E. Eastland Center Drive. Ashley was represented by Hodgdon Realty Group and Cole Real Estate Investments in this lease transaction. The Hodgdon Group also handled the entitlements and served as the design-build contractor on the building.

March 25, 2013

Northeast Retail

STAN JOHNSON CO. COMPLETES SALE OF RETAIL PROPERTY FOR $8.4M

by admin March 25, 2013

NEW YORK CITY — Stan Johnson Co. has completed the sale of a retail development property for $8.4 million. The property is fully leased to Bank of America and is located at the intersection of 18th Avenue and 66 Street in Brooklyn. Nearby tenants include Walgreens, CVS/pharmacy, TD Bank, Chase Bank, McDonald’s and Starbucks. Jason Maier of Stan Johnson Co. represented the seller, a private corporation, and the 1031 tax-deferred exchange buyer, an individual investor, in the transaction. The property is slated for completion by mid-year 2013.

March 25, 2013

Retail Texas

NORTHMARQ ARRANGES $13.9M REFINANCE FOR ROANOKE CROSSING

by admin March 25, 2013

ROANOKE, TEXAS — NorthMarq Capital has arranged a $13.9 million refinancing for Roanoke Crossing Shopping Center, a 78,222-square-foot retail center located at 101 E. Highway 114 in Roanoke. Walmart and The Home Depot anchor the center, but neither are part of the collateral. Other tenants include Dickey's BBQ Pit, Payless, Shoe Source and Subway. JP Morgan Chase, Just Brakes, Chili's, Sonic, Taco Bueno, Wells Fargo Bank and Wendy's occupy the seven pad sites. John Stewart and Ilan Reissner of NorthMarq Capital arranged the financing for the borrower, a national account.

March 25, 2013

Retail Western

ASHLEY FURNITURE HOMESTORE OPENS AT EASTLAND CENTER IN WEST COVINA

by admin March 25, 2013

March 25, 2013

Retail Southeast

NAMDAR ACQUIRES 680,000 SF ENCLOSED MALL IN FLORIDA

by admin March 22, 2013

BRADENTON, FLA. — Namdar Realty Grouup has acquired DeSoto Square Mall, a 680,000-square-foot enclosed mall in Bradenton. The mall is 75 percent occupied and major tenants include Macy's, JC Penney and Sears. “This is a great deal,” says Joel Gorjian, director of acquisitions and dispositions at Namdar. “There are plenty of great tenants, along with a solid amount of vacancy, which leaves us with some room to add value to the property.”

March 22, 2013

Retail Southeast

WALGREENS STORE OPENS ON HISTORIC MAGAZINE STREET IN NEW ORLEANS

by admin March 22, 2013

NEW ORLEANS — A new 13,000-square-foot Walgreens has opened in New Orleans on historic Magazine Street. The store includes a drive-thru window, full-service pharmacy and a Look Boutique that specializes in high-end cosmetics. Located at 5518 Magazine St., the site is the original home of the Ed Brauner American Legion Post #307, and portions of the building date back to 1947. To pay homage to the war veterans, several American Legion symbols were incorporated into the new design. Stirling Properties constructed the property, and the firm is currently building two additional Walgreens stores in Terrytown, La., and Pass Road in Fulport, Miss.

March 22, 2013

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