Retail

ACP Management Buys 89,389 SF South Mountain Crossing Shopping Center in Laveen, Arizona

by Amy Works November 10, 2023

LAVEEN, ARIZ. — Colliers has arranged the sale of South Mountain Crossing, a neighborhood shopping center located at 3510-3648 W. Southern Ave. and 5806-5950 S. 35th Ave. in Laveen. Santa Ana, Calif.-based ACP Management acquired the property from Fairfield, N.J.-based Lamar Cos. for an undisclosed price. Built in 2007, South Mountain Crossing features 89,389 square feet of retail space on 6.9 acres. The asset is part of a 200,000-square-foot community center that includes 15 businesses, medical facilities and a charter school. Seven tenants occupy the asset, including SkyZone Trampoline Park, Goodwill and Kids Empire. Mindy Korth and JK Jackson of Colliers in Arizona, in conjunction with El Warner and Caitlin Zirpolo of Colliers in Irvine, Calif., handled the transaction.

November 10, 2023

California Loans Retail Western

Gantry Arranges $9.5M Loan for Plaza North Shopping Center in Petaluma, California

by Amy Works November 10, 2023

PETALUMA, CALIF. — Gantry has arranged a $9.5 million permanent loan to refinance Plaza North Shopping Center in the Sonoma County city of Petaluma. Lola’s Market, CVS/pharmacy, Starbucks Coffee, GNC, Club Pilates and a variety of fast food, dining, beauty, retailers and professional services occupy the 101,000-square-foot retail center. Robert Slatt, Andrew Ferguson and Maria Zwick of Gantry’s San Francisco production office secured the loan on behalf of the borrower, a private limited partnership. One of the Gantry’s correspondent life company lenders provided the seven-year, fixed-rate, permanent loan. The new financing replaces a maturing loan from 2013.

November 10, 2023

Acquisitions Illinois Midwest Retail

Marcus & Millichap Arranges $10.2M Sale of Shopping Center in Streamwood, Illinois

by Kristin Harlow November 10, 2023

STREAMWOOD, ILL. — Marcus & Millichap has arranged the $10.2 million sale of Westview Center in Streamwood, a northwest suburb of Chicago. The 114,735-square-foot shopping center is fully occupied. Tenants include AutoZone, Dollar Tree, Oak Street Health, Chuck E. Cheese, American Freight and H&R Block. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. Mark Ruble, Chris Lind and Brennan Clegg of Marcus & Millichap represented the buyer, a Midwest-based private investment group. The asset sold for 96 percent of the list price.

November 10, 2023

Acquisitions California Retail Western

Fountainhead Development Sells Retail Pad at Monterey Crossing in Palm Desert, California for $6.3M

by Amy Works November 9, 2023

PALM DESERT, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly built, multi-tenant retail pad at Monterey Crossing, a shopping center in the Coachella Valley city of Palm Desert. Newport Beach-based Fountainhead Development sold the asset to a Los Angeles-based private investor for $6.3 million. Situated on 1.2 acres at 3120 Dinah Shore Drive, the 8,370-square-foot property was fully leased to Jersey Mike’s Subs, Nekter Juice Bar, Roll-Em-Up Taquitos, Keith Alexander DDS and Mathnasium. The building was built in 2022. Bill Asher and Jeff Lefko of Hanley Investment represented the seller, while Yoram Katz of Woodland Hills-based Peak Commercial represented the buyer in the deal. This transaction marks the fifth retail pad building Hanley Investment Group has sold at Monterey Crossing, totaling a combined 25,430 square feet and approximately $27 million.

November 9, 2023

Acquisitions California Mixed-Use Office Retail Western

Cushman & Wakefield Arranges $2.7M Acquisition of Retail/Office Property in Encinitas, California

by Amy Works November 9, 2023

ENCINITAS, CALIF. — Cushman & Wakefield has brokered the purchase of a mixed-use retail/office building located at 264 N. Coast Highway in Encinitas, approximately 25 miles north of San Diego. A private local investor acquired the property for $2.7 million. Originally developed in 1936 and renovated in 2005, the 1,530-square-foot building was recently painted on the outside and is walking distance to Moonlight Beach. Peter Curry and Owen Curry of Cushman & Wakefield’s Private Capital Group in San Diego represented the buyer, while Donn Yu of OCAP Real Estate & Financial represented the undisclosed seller in the deal.

November 9, 2023

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 16 Retail Storefronts in Chicago

by Kristin Harlow November 9, 2023

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of The Chicago High-Street Retail Portfolio, a collection of 16 street retail buildings totaling over 75,000 square feet in Chicago’s Lincoln Park and Bucktown neighborhoods. Tenants within the portfolio include Lululemon, Warby Parker, Blue Mercury, Summer House Santa Monica, Ramen-San, Barry’s Bootcamp, One Medical, Little Green Tree House, OVME, Lush Cosmetics and Bond Vet. Joe Girardi and Rick Drogosz of Mid-America represented the institutional seller. The sales price and buyer were undisclosed.

November 9, 2023

Leasing Activity Midwest Restaurant Retail Wisconsin

Cardinal Capital Management Opens The Social at Middleton Market in Wisconsin

by Kristin Harlow November 9, 2023

MIDDLETON, WIS. — Cardinal Capital Management Inc. has opened The Social at Middleton Market in Middleton, a northwest suburb of Madison. The bar is located within the Middleton Market Food Hall, which is connected to Aviary at Middleton Market Apartments. The Social provides residents and visitors a space to enjoy crafted beverages. Under the guidance of Nancy Allen, general manager of Middleton Market, and Lynn Haker of Babes Grill & Bar in Madison, The Social offers a curated menu of signature cocktails, locally sourced beers, an extensive selection of wines and shareable appetizers.

November 9, 2023

Acquisitions Georgia Retail Southeast

Coro Realty Acquires 153,486 SF Noonday Creek Crossing Shopping Center in Kennesaw, Georgia

by John Nelson November 8, 2023

KENNESAW, GA. — Coro Realty has acquired Noonday Creek Crossing, a 153,486-square-foot shopping center located at 2911 George Busbee Parkway in Kennesaw, a northern suburb of Atlanta. An affiliate of Fletcher Bright Co. sold the retail center to Coro Realty for an undisclosed price. Situated on 15 acres adjacent to Kennesaw State University’s sports and entertainment complex, Noonday Creek Crossing was fully leased at the time of sale to tenants including Burlington, PGA Tour Superstore and Medici Medical Arts Center. The shopping center was built in 1996 and renovated in 2005. Zach Taylor of Institutional Property Advisors brokered the sale. Richard Henry, Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE arranged an $8.6 million acquisition loan through Affinity Bank on behalf of Coro Realty.

November 8, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

The Container Store, French Restaurant Sign Leases at Miami Worldcenter

by John Nelson November 8, 2023

MIAMI — The Container Store and Sweet Paris Creperie & Café have signed leases to join the tenant roster at Miami Worldcenter. The Container Store will occupy 15,681 square feet and Sweet Paris will occupy 2,330 square feet at the $6 billion, 27-acre mixed-use development underway in downtown Miami. Both retailers are set to open by the end of 2024. Miami Worldcenter Associates, led by developers Art Falcone and Nitin Motwani, is the master developer of Miami Worldcenter in partnership with CIM Group. More than 90 percent of the development’s 300,000 square feet of planned retail, dining and entertainment space has been leased, according to the developers. CIM Group and The Comras Co. are leading retail leasing.

November 8, 2023

Leasing Activity Oklahoma Restaurant Retail Texas

Veritas Adds Three New Retailers at Oklahoma City Mixed-Use Development

by Taylor Williams November 8, 2023

OKLAHOMA CITY — Veritas Development has added three new retailers to the tenant roster at OAK, a 20-acre mixed-use project in Oklahoma City. Kitchenware and home furnishings retailer Williams Sonoma will open a 5,500-square-foot store. Tommy Bahama Marlin Bar will open an 8,000-square-foot restaurant and bar, and Pottery Barn has committed to a 12,420-square-foot space. The retailers, which join tenants such as Mesero, RH, Arhaus and Capital Grille, all plan to debut in fall 2024.

November 8, 2023

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