Retail

FARIS LEE INVESTMENTS COMPLETES $18 MILLION SALE OF RETAIL SPACE

by admin June 11, 2008

ONTARIO, CALIF. — Los Angeles-based Las Vegas Land & Development Company has acquired a fully occupied, 60,000-square-foot portion of The Marketplace at Ontario Mills, which is located at 4155-4195 Inland Empire Blvd. and 750 N. Ferrari Ln. in Ontario. Newport Beach, Calif.-based Peninsula Retail Partners sold the property for $18 million. The property consists of four furniture stores: CORT Furniture Rental, Ortho Mattress, Bassett Furniture and Easylife Furniture. Jeff Conover of Irvine, Calif.-based Faris Lee Investments represented the seller/developer in the transaction.

June 11, 2008

SHOPPING CENTER TRADES HANDS FOR $17.75 MILLION

by admin June 11, 2008

PALM DESERT, CALIF. — Peter Ioannou of Marcus & Millichap’s West Los Angeles office represented the undisclosed buyer in the acquisition of a 37,482-square-foot community shopping center in Palm Desert. Built in 1981, the center is located at 73091-73161 Country Club Dr. An undisclosed seller sold the property for $17.75 million.

June 11, 2008

Retail Southeast

MARCUS & MILLICHAP BROKERS $2.95 MILLION SALE OF STRIP CENTER

by admin June 10, 2008

GREENWOOD, S.C. — Marcus & Millichap’s Michael Bennett of the Downtown Chicago office and Andrew Margulies of the North Carolina office have represented both buyers and sellers in the $2.95 million sale of the Commons strip center. Located across from Wal-Mart Supercenter in Greenwood, the 16,144-square-foot retail center sits on a 1.82-acre site.

June 10, 2008

Midwest Retail

BOND COS. CONTINUES CONSTRUCTION OF 270,000-SQUARE-FOOT RETAIL CENTER

by admin June 10, 2008

NAPERVILLE, ILL. — Bond Cos. and its joint venture partner MCD Properties are developing Springbrook Prairie Pavilion, a 270,000-square-foot retail center located at the northwest corner of 75th Street and Fort Hill Drive in Naperville. Road Runner Sports will be the first occupant on the 27-acre site. Other tenants that have signed lease commitments and will open throughout the year include Buffalo Wild Wings Grill & Bar, Whole Foods Market, Nordstrom Rack, Loehmann’s, and Cost Plus World Market. Springbrook Prairie is the first development in DuPage County to pursue LEED Silver Certification by the U.S. Green Building Council.

June 10, 2008

Midwest Retail

NORTHMARQ SECURES $3.3 MILLION LOAN FOR WALGREENS ACQUISITION

by admin June 10, 2008

MAPELWOOD, MINN. — Jeff Frankel of NorthMarq Capital’s Chicago office has arranged $3.3 million in first mortgage financing for the acquisition of a Walgreens located at 2920 White Bear Ave. North in Maplewood. The interest-only, 10-year loan was provided for the borrower, Via Estrada of Maplewood LLC, by an undisclosed Midwest financial institution.

June 10, 2008

Retail Texas

HANLEY COMPLETES 99,331-SQUARE-FOOT RETAIL SALE

by admin June 10, 2008

RICHLAND HILLS, TEXAS – Hanley Investment Group Real Estate Advisors has completed the sale of Rufe Snow Village, a 99,331-square-foot retail center located at 6238-6244 Rufe Snow Dr. in Richland Hills. The property, which was 85 percent occupied at the time of closing, is anchored by 99 Cents Only. Additional tenants include Aaron Rents, American General Finance, Baskin Robbins, Jackson Hewitt and Shear Cuts. Eric Werner and Kevin Fryman of Hanley represented the seller, a private Los Angeles-based investment company, as well as the buyer, Littleton, Colo.-based Lamar Cos. The acquisition price was not disclosed.

June 10, 2008

Retail Texas

FINAL PHASE OF THE VILLAGE AT FORUM PARKWAY NEARING COMPLETION

by admin June 10, 2008

SAN ANTONIO — Developer Cencor Realty Services is nearing completion for a new phase for The Village at Forum Parkway, a shopping center located at the interchange of Interstate 35 and Loop 1604 in San Antonio. The new phase, which will expand the center by approximately 60,000 square feet, will consist of a 20,304-square-foot Circuit City, a 20,898-square-foot Office Depot, a 6,500-square-foot Houlihan’s restaurant and 12,000 square feet of multi-tenant space. Construction of the new phase, which will complete the 16-acre development, will be complete this summer, with the Circuit City expected to open this month. The Village at Forum Parkway is located across I-35 from the 1.2 million-square-foot The Forum at Olympia Parkway shopping center.

June 10, 2008

Retail Southeast

VALENCIA SQUARE BREAKS GROUND

by admin June 9, 2008

BOYNTON BEACH, FLA. — Fort Myers, Fla.-based Eagle Concrete Systems has started construction on Valencia Square in Boynton Beach. The Publix-anchored shopping center will feature six buildings totaling 83,4000 square feet. Keene Construction Co. is serving as general contractor.

June 9, 2008

Midwest Retail

CENRO PROPERTIES GROUP UNVEILS $11.7 MILLION RETAIL CENTER RENOVATION

by admin June 9, 2008

MIDDLEBURG HEIGHTS, OHIO — Centro Properties Group has unveiled its $11.7 million renovation of Southland Shopping Center, a community retail development located at the intersection of Pearl and Smith roads in Middleburg Heights. The catalyst for the renovation was the new 87,000-square-foot Giant Eagle supermarket, which opened at the shopping center in May. Renovations at the center included a complete redesign of the parking field. Future improvements to the property are expected for the 62,000-square-foot vacant space that was occupied by the Giant Eagle supermarket before it moved into its new space.

June 9, 2008

Northeast Retail

NAI CIR BROKERS SHOPPING CENTER SALE

by admin June 9, 2008

MONTOUR COUNTY, PA. — Waterloo Enterprises has acquired Danville Mini Mall, a 12,000-square-foot retail property located in Montour County. The property is occupied by Domino’s Pizza, Plaza Laundromat, Sweetser & Farr Psychologists, U.S. Army Corps of Engineers and PA. Photo License Center. Craig Rahn of Wormleysburg, Pa.-based NAI CIR negotiated the transaction. The sale price was not disclosed.

June 9, 2008

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