Retail

Epsteen & Associates, Progressive Real Estate Broker $4M Sale of Shops at Mission Square in Montclair

by Amy Works November 2, 2018

MONTCLAIR, CALIF. — Epsteen & Associates San Diego and Progressive Real Estate Partners have arranged the sale of Shops at Mission Square, a retail center located at 4467 Mission Blvd. in Montclair. A San Diego-based private investor sold the property to a Yorba Linda-based private investor for $4 million, or $692 per square foot. Built in 2007, the 5,852-square-foot property is fully leased to four national retailers: Panda Express, Little Caesars, Dairy Queen and Boost Mobile. Joe Wojdowski of Epsteen & Associates and Greg Bedell of Progressive Real Estate represented the seller, while Scott Chang of 168 Realty represented the buyer in the all-cash transaction.

November 2, 2018

Development Iowa Midwest Retail

Kraus-Anderson Completes 9,500 SF Casino for Ponca Tribe in Carter Lake, Iowa

by Kristin Harlow November 2, 2018

CARTER LAKE, IOWA — Kraus-Anderson Construction has completed the first phase of Prairie Flower Casino on behalf of the Ponca Tribe of Nebraska. The 9,500-square-foot gaming facility is located in Carter Lake, a northwest suburb of Omaha. The property will include 200 slot-style games and a full-service bar. Approximately 100 individuals will be employed at the casino. The Ponca Tribe of Nebraska has nearly 4,300 tribal citizens, with almost half of them residing in the states of Iowa and Nebraska. The name Prairie Flower has a special meaning to the Ponca Tribe of Nebraska. Standing Bear, a former tribe chief circa 1879, had a daughter named Prairie Flower who passed away during the tribe’s forced relocation to Oklahoma.

November 2, 2018

Loans Retail Southeast Virginia

Cohen Financial Arranges $12.5M Acquisition Loan for Retail Property in Metro D.C. Leased to REI

by Amy Works November 2, 2018

MCLEAN, VA. — Cohen Financial has secured a $12.5 million loan with Reinsurance Group of America for the acquisition of a retail property in McLean, about 10 miles west of Washington, D.C. Thomas Wiedeman of Cohen Financial secured the fixed-rate, non-recourse, 11-year loan with a 20-year amortization schedule and a 65 percent loan-to-value ratio for the borrower, a local commercial real estate investor. REI Tysons occupies the 32,857-square-foot, single-tenant property located at 8209 Watson St. in McLean.

November 2, 2018

Acquisitions Retail Texas

SHOP Cos. Negotiates Sale of Two Retail Centers Totaling 39,711 SF in DFW Metroplex

by Taylor Williams November 1, 2018

PLANO AND MANSFIELD, TEXAS — SHOP Cos. has negotiated the sale of Plano Crossing Building 1 and Mansfield Commons, two retail centers totaling 39,711 square feet in Plano and Mansfield, two cities in the Dallas-Fort Worth (DFW) metroplex. The properties are shadow-anchored by a Home Depot and Walmart Supercenter, respectively, and were both fully leased at the time of sale. Tim Axilrod and Tommy Tucker of SHOP Cos. represented the seller, California-based Black Lion Investment Group, in the Plano deal. The duo represented the buyer, a Texas-based limited liability company, in the Mansfield deal.

November 1, 2018

Development Retail Texas

Sprouts Farmers Market Nears Completion of 30,000 SF Store in Metro Houston

by Taylor Williams November 1, 2018

SUGAR LAND, TEXAS — Phoenix-based grocer Sprouts Farmers Market is nearing completion of construction of its 30,000-square-foot store in Sugar Land, a southwestern suburb of Houston. The official opening is slated for Jan. 16, 2019. The store, located at 13550 University Blvd., is expected to create approximately 140 new jobs upon opening.

November 1, 2018

Acquisitions Midwest Ohio Retail

PEBB Enterprises Purchases 93,743 SF Shopping Center in Gahanna, Ohio

by Kristin Harlow November 1, 2018

GAHANNA, OHIO — PEBB Enterprises has purchased Hunter’s Ridge, a 93,743-square-foot shopping center in Gahanna, an eastern suburb of Columbus. The purchase price was not disclosed. The property is located at the intersection of South Hamilton and Morrison roads. Kroger and Planet Fitness anchor the center. Other tenants include restaurants, a beauty salon, dance studio and medical office. PEBB now owns and operates four shopping centers in Ohio.

November 1, 2018

Leasing Activity Midwest Retail Wisconsin

Altitude Trampoline Park to Open in Appleton, Wisconsin

by Kristin Harlow November 1, 2018

APPLETON, WIS. — Altitude Trampoline Park has signed a 33,247-square-foot lease to open its first Wisconsin facility in Appleton. The property is located at 4914 Integrity Way. The indoor trampoline park will include a ropes course, ninja course, rock wall, extreme dodge ball, zip lines and foam pits. John Day of The Woodmont Company and Patrick Owens of Transwestern represented the tenant in the lease transaction. Mark Pucci and Adam Figurin of Colliers International represented the landlord, Alliance Development.

November 1, 2018

Acquisitions Georgia Retail Southeast

Mimms Enterprises Sells Two Shopping Centers in Metro Atlanta to Jamestown

by Amy Works November 1, 2018

SANDY SPRINGS, GA. — Mimms Enterprises has sold two adjacent shopping centers totaling 334,787 square feet in Sandy Springs, a suburb of Atlanta. Jamestown purchased the portfolio free and clear of existing debt for an undisclosed price. The portfolio includes The Exchange at Hammond, located at 5930-5992 Roswell Road. The 176,376-square-foot property is fully leased to tenants including Whole Foods Market, Marshalls, Office Depot, Petco and Dollar Tree. The other asset is Parkside Shops, located at 5920 Roswell Road. The 158,411-square-foot shopping center is leased to tenants including The Cinema Springs & Taphouse, Battle and Brew, Tuesday Morning, Jump Start Gym, Chipotle Mexican Grill, Egg Harbor Café, Subway and il Giallo Osteria & Bar. Jim Hamilton, Brad Buchanan, Michael Allison and Shea Patrick of HFF represented Mimms in the deal.

November 1, 2018

California Loans Retail Western

CBRE Secures $20M Acquisition Loan for Jamboree Promenade Shopping Center in Irvine

by Amy Works November 1, 2018

IRVINE, CALIF. — CBRE has arranged a $20 million refinancing for Jamboree Promenade, a shopping center located at 2626-2646 Dupont Drive in Irvine. Pole Capital USA, the U.S. division of a Singaporean real estate investment company, is the borrower. The property was purchased earlier this year for $42.5 million in all cash, and the debt financing will recapitalize the site. The 56,878-square-foot shopping center is 97 percent occupied by tenants including CorePower Yoga, The Melting Pot and Daily Grill. Shaun Moothart, Bruce Francis, Dana Summers, Bob Ybarra and Doug Birrell of CBRE’s Debt and Structured Finance team arranged the seven-year loan for the borrower.

November 1, 2018

Acquisitions Maryland Retail Southeast

KLNB Negotiates Sale of 190,211 SF Shopping Center Near D.C.

by Amy Works November 1, 2018

LANHAM, MD. — KLNB Investment Sales Group has arranged the sale of Enterprise Plaza Shopping Center, a retail property situated on 16.7 acres in Lanham, a suburb of Washington, D.C. An affiliate of Combined Properties sold the asset to East Coast Acquisitions for an undisclosed price. Aldi and T.J. Maxx anchor the 190,211-square-foot property. Aldi recently exercised a five-year renewal option on its lease to extend its occupancy until 2023. Additional tenants include Verizon Wireless, Advance Auto Parts, Dollar Tree, SunTrust Bank, Shell, Taco Bell and Wendy’s. Andy Stape and Vito Lupo of KLNB Investment Sales represented the seller and procured the buyer. Matt Skalet and Matt Copeland of KLNB were retained by the buyers as the leasing agents for the property, which is the buyer’s first acquisition in the Mid-Atlantic region.

November 1, 2018

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