Retail

200,000-SQUARE-FOOT NORTHWOOD PLAZA IN FLA. SELLS

by admin April 20, 2011

CLEARWATER, FLA. — The 200,000-square-foot, Publix-anchored Northwood Plaza in Clearwater has sold for an undisclosed price. The property was 91 percent leased at the time of sale. Other tenants include Stein Mart, CVS/Pharmacy, Talbots, Anthoney's Coal Fired Pizza and Starbucks Coffee. Jim Michalak and Lenard Williams of Plaza Advisors' Tampa, Fla., office and Anthony Blanco of Plaza Advisors' Miami office represented the seller, Northwood Plaza LLC. Broker information was not provided for the buyer, AEW Capital Management.

April 20, 2011

24,759-SQUARE-FOOT AUTO DEALERSHIP SELLS IN WISCONSIN

by admin April 20, 2011

ONALASKA, WIS. — Brenengen Auto Group has purchased a former Saturn dealership in Onalaska from Bergstorm Automotive. Situated on 5.22 acres at 531 Theater Road, the 24,579-square-foot property sold for $2.9 million. Casey Weiss and Maria Peterson of Access Commercial Real Estate represented the seller in the transaction.

April 20, 2011

Northeast Retail

FORMER STAPLES SELLS FOR $7.95M

by admin April 20, 2011

PARAMUS, N.J. — Marcus & Millichap has brokered the sale of a 25,000-square-foot retail property located on Route 4 in Paramus. Constructed in 1991, the building had been leased on a triple-net basis to Staples since its completion. David Thurston of Marcus & Millichap's New Jersey office represented the seller, a New York investor, and procured the buyer, a regional retail investor.

April 20, 2011

Northeast Retail

BROADWAY RETAIL CONDO REFINANCED

by admin April 20, 2011

NEW YORK CITY — NorthMarq Capital has arranged a $1 million first mortgage for a retail condominium located at 351 W. Broadway in New York City. The property contains 1,250 square feet of above-grade space and a 650-square-foot basement. Pines Vintage is its major tenant. The loan carries a 25-year, fully amortizing term with 5-year adjustments. Craig Bjornsund of NorthMarq's New York Metro office arranged the loan on behalf of a limited liability company. The lender was StanCorp Mortgage Investors.

April 20, 2011

Retail Western

STAN JOHNSON CLOSES TWO-TENANT RETAIL PROPERTY SALE IN THE DESERT

by admin April 20, 2011

TUCSON, ARIZ. — Stan Johnson Co. has negotiated the sale of a 37,540-square-foot retail building, located within the North Pima Center at 3749 W. Ina Road in Tucson, to a Dallas-based private investor. Fully leased to Michaels and Ace Hardware, the property was listed for more than $4.43 million. T. Reed Hudson of Stan Johnson Co. represented the seller, a Los Angeles-based investor, in the transaction.

April 20, 2011

Retail Western

COLLIERS INTL. MANAGES TRADE OF L.A. COUNTY STARBUCKS STORE

by admin April 20, 2011

CULVER CITY, CALIF. — Colliers International has presided over the almost $2.69 million trade of a 2,250-square-foot Starbucks Coffee store, located at 12313 Jefferson Blvd. in Culver City. Built in 2007, the single-story, single-tenant retail building has a corporate-guaranteed lease by the renowned Seattle-based coffeehouse chain. Colliers’ Kathleen Silver and Kay Thorpe represented the private-investor buyer in the transaction, and the brokerage firm’s Jereme Snyder represented the seller, Olive Investment Group LLC.

April 20, 2011

Midwest Restaurant

APPLEBEE'S RESTAURANT LOCATION SELLS FOR $2.05 MILLION IN OHIO

by admin April 20, 2011

ALLIANCE, OHIO — Marcus & Millichap has brokered the sale of an Applebee's Restaurant in Alliance. Located at 2600 W. State St., the 4,320-square-foot restaurant facility sold for $2.05 million or $475 per square foot. John Talbot, Scott Wiles,Craig Fuller and Erin Patton of Marcus & Millichap negotiated the sale. The seller and buyer were not disclosed.

April 20, 2011

Retail Southeast

CBL COMPLETES $135.7 MILLION IN FINANCING ACROSS SOUTHEAST

by admin April 19, 2011

LITTLE ROCK, ARK.; CHATTANOOGA, TENN.; AND NASHVILLE, TENN. — CBL & Associates Properties announced that year-to-date it has arranged $135.7 million in financing in the southeast at a combined estimated average interest rate of 5.42 percent with an average term of 6.8 years. Two 10-year loans were closed, including a $99.4 million loan secured by Park Plaza in Little Rock and a $10.6 million loan secured by Hamilton Crossing in Chattanooga, with an average fixed interest rate of 5.7 percent. Additionally, two 5-year loans were closed, including a $12.1 million loan secured by Gunbarrel Pointe in Chattanooga and a $13.6 million loan secured by Coolsprings Crossings in Nashville, with an average fixed interest rate of 4.5 percent.

April 19, 2011

Retail Southeast

GROUND BREAKS FOR $10.5 MILLION DEVELOPMENT IN ALA.

by admin April 19, 2011

AUBURN, ALA. — Dunedin, Fla.-based The Barclay Group and Cary Land Company have broken ground on the Shoppes at Cary Creek, a 63,100-square-foot, $10.5 million retail development. The shopping center will cover 12 acres and will be anchored by a 45,600-square-foot Publix. Of the 17,500 square feet of retail space and three out parcels, 7,000 square feet have been pre-leased. The development is expected to open in February 2012.

April 19, 2011

Midwest Retail

17,929-SQUARE-FOOT ALDI OPENS IN MINNESOTA

by admin April 19, 2011

CRYSTAL, MINN. — ALDI, an international discount grocery retailer, has opened at Crystal Town Center, which is located at Bass Lake Road and West Broadway Avenue in Crystal. The 17,929-square-foot store is located at 5620 W. Broadway Ave. The shopping center is owned by St. Paul, Minn.-based Paster Enterprises.

April 19, 2011

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