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Brixton Capital Buys 143,217 SF Pacific Town Center Retail Asset in Stockton, California

by Amy Works October 17, 2023

STOCKTON, CALIF. — Brixton Capital has purchased Pacific Town Center, a value-add retail property in Stockton. A Sacramento-based private seller sold the asset for an undisclosed price in an off-market transaction. Located at 718-769 W. Hammer Lane, Pacific Town Center features 143,217 square feet of retail space that was 42 percent leased at the time of sale. Existing tenants include Smart & Final, Aaron’s, Panda Express, Subway and other neighborhood-serving retailers and restaurants. Brixton plans to re-tenant a former Toys ‘R’ Us space and the recently vacated T.J.Maxx storefront. Hanley Investment Group represented the seller in the deal.

October 17, 2023

Georgia Loans Retail Southeast

CBL, Horizon Group Secure $79.3M Refinancing for Outlet Mall in Woodstock, Georgia

by John Nelson October 9, 2023

WOODSTOCK, GA. — Joint venture partners CBL Properties and Horizon Group Properties have secured a $79.3 million loan for the refinancing of The Outlet Shoppes of Atlanta, a retail outlet property located in Woodstock. The 10-year, fixed-rate financing replaces two existing loans with a total balance of $69.5 million that were set to mature this November. The property features 103 retailers, including American Eagle Outfitters, Auntie Anne’s, Athleta, Banana Republic Factory Store, Champion, Forever 21 and GNC, among others.

October 9, 2023

California Development Healthcare Life Sciences Office Western

Stockdale Capital Partners Plans 145,000 SF Medical Office, Life Sciences Project in West Los Angeles

by Amy Works October 3, 2023

LOS ANGELES — Stockdale Capital Partners has announced plans for 656 S. Vincente Boulevard, a medical office and life sciences property in Los Angeles’ Golden Triangle area. The project will be the first new medical office and life sciences building constructed in the area in more than 20 years. The 12-story property will feature 145,000 square feet of Class A medical office and life sciences space that combines both environmental sustainability and best-in-class amenities. The building will feature electric vehicle charging stations, ample bicycle parking, direct access to a major transit thoroughfare and 418 parking spaces with full valet service for tenants and patients. The project team includes Atelier R and HMC for architectural and design services. Jones Lang LaSalle’s construction management team will support pre-construction and consulting services through the design and construction phases. The building will include an integrated solar framework capable of offsetting building energy usage; recycled building materials designed to maximize energy efficiency; high-efficiency heating and cooling systems; low-water usage plumbing and mechanical systems; drop irrigation; extensive green space; and interior and exterior gardens to help optimize air quality throughout the building. Core-and-shell completion is slated for October 2026. Angie Weber and Dana Nialsi of CBRE will …

October 3, 2023

Development Leasing Activity Mixed-Use Restaurant Retail Southeast Virginia

Comstock Signs Two Restaurant Tenants for Phase II of Reston Station in Northern Virginia

by John Nelson September 26, 2023

RESTON, VA. — Comstock Holding Cos. Inc. has signed two new restaurants to join the second phase of Reston Station, a mixed-use development underway in Northern Virginia. The new tenants are Noku Sushi, a Virginia-based fast-casual sushi and ramen restaurant, and Tous les Jour, a bakery chain. Both tenants will occupy ground-level retail space at 1800 Reston Row Plaza, the first of two trophy office towers under development in Phase II. Both restaurants are slated to open in 2025. Michael Kang of Rappaport represented the tenants in both transactions. Other committed commercial tenants set to open at Reston Station include Vida Sport & Fitness, Ebbitt House and Puttshack.

September 26, 2023

California Development Multifamily Western

Cityview, Stockbridge Start Construction of 265-Unit Apollo Multifamily Project in Los Angeles

by Amy Works September 14, 2023

LOS ANGELES — Cityview and Stockbridge have started construction on Apollo, an apartment development in Los Angeles’ South Bay neighborhood. Slated for completion in 2025, the transit-oriented community will feature 265 apartments in a mix of studio, one- and two-bedroom floor plans. Residences will feature stainless steel appliances, quartz countertops, vinyl plank flooring, smart thermostats, keyless entry, smart home systems, and fiber optic internet and Wi-Fi. Located at 12888 Crenshaw Blvd., the community amenities will include a swimming pool and spa deck with loungers and daybeds; a CV Works coworking center; podcast room; 3D printer; indoor fitness center; outdoor strength and stretching area; indoor-outdoor community room; and open-air courtyards with an entertainment lounge, pool table, Korean barbecue grills, fire pits, lounge seating, gathering tables and a variety of dining areas. Additionally, the property will feature ample secure bike lockers and storage, a transit kiosk, and walk and bike path access. City National Bank and Banc of California provided construction financing. The project team includes WPIC Construction, AC Martin, Nadia Geller Designs and MJS Landscape Architecture.

September 14, 2023

Acquisitions Company News Net Lease New York Northeast Retail Top Stories

Retail REIT Merger: Kimco Realty to Acquire RPT Realty for $2B in All-Stock Transaction

by John Nelson August 28, 2023

JERICHO AND NEW YORK CITY, N.Y. — Kimco Realty (NYSE: KIM) has entered into a definitive merger agreement with RPT Realty (NYSE: RPT) under which Kimco will acquire RPT Realty in an all-stock transaction. Both REITs are based in New York — Kimco in Jericho and RPT in Manhattan — and own and operate open-air and grocery-anchored shopping centers, as well as mixed-use assets. Kimco valued the transaction at approximately $2 billion, including the assumption of debt and preferred stock. The merger will add 56 open-air shopping centers, including 43 wholly owned and 13 joint venture assets, to Kimco’s existing portfolio of 528 properties. The affected portfolio spans 13.3 million square feet of gross leasable area. GIC, a sovereign wealth fund based in Singapore, is RPT Realty’s largest joint venture partner and plans to continue its dual ownership with the combined company post-merger. Conor Flynn, CEO of Kimco, says that roughly 70 percent of RPT Realty’s portfolio aligns with Kimco’s strategic markets. This includes Mary Brickell Village, a mixed-use development in Miami that RPT Realty purchased last year for $216 million. Kimco plans to remerchandise and redevelop portions of the center, as well as add it to the company’s Signature Series …

August 28, 2023

Acquisitions Multifamily Southeast Virginia

Stockbridge Sells Arbors at Fair Lakes Apartments in Fairfax, Virginia for $85.6M

by John Nelson August 24, 2023

FAIRFAX, VA. — San Francisco-based Stockbridge has sold Arbors at Fair Lakes, a 282-unit apartment community located at 4408 Oak Creek Court in Fairfax. GID purchased the value-add community for $85.6 million. Bret Thompson and Robert Jenkins of JLL represented the seller in the transaction. Built in 1987, Arbors at Fair Lakes comprises one-, two- and three-bedroom apartments with an average unit size of 920 square feet. Amenities include a 24-hour fitness center, resort-style swimming pool, business center, tennis court with perimeter running track, outdoor grill/lounge area, and a half-mile nature trail throughout the property.

August 24, 2023

Acquisitions Retail Texas

Partners Real Estate Negotiates Sale of 8,000 SF Retail Property in Fort Stockton, Texas

by Taylor Williams August 21, 2023

FORT STOCKTON, TEXAS — Partners Real Estate has negotiated the sale of an 8,000-square-foot retail property that is leased to Dollar General in the West Texas city of Fort Stockton. According to LoopNet Inc., the freestanding, single-tenant building at 1001 W. Dickinson Blvd. was originally constructed in 1994. The buyer and seller were both Houston-based investment firms that requested anonymity. Evan Altemus of Partners brokered the deal.

August 21, 2023

Development Florida Retail Southeast

Tavistock to Develop 405,000 SF Lake Nona West Shopping Center in Orlando

by John Nelson July 31, 2023

ORLANDO, FLA. — Tavistock Development has announced plans for Lake Nona West, a 405,000-square-foot shopping center to be located in the Lake Nona master-planned community in Orlando. Upon completion, the development will be situated on a 54-acre parcel and feature open-air shops, ground-level parking, outdoor entertainment spaces and public art. Tavistock has submitted site plans to the City of Orlando, and construction is scheduled to begin in 2024, with completion planned for fall 2025. Tenant announcements are expected this winter.

July 31, 2023

Acquisitions California Retail Western

Faris Lee Brokers $4.6M Sale of Woodstock Plaza Retail Center in Moreno Valley, California

by Jeff Shaw May 24, 2023

MORENO VALLEY, CALIF. — Faris Lee Investments has brokered the $4.6 million sale of Woodstock Plaza, a retail strip center in Moreno Valley. The center was 75 percent occupied at the time of sale. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller in the all-cash transaction. A private investor acquired the property.

May 24, 2023

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