Chandler, Ariz. — Cushman & Wakefield has arranged the $16.9 million sale of Santan Gateway North, a 123,236-square-foot retail center shadow-anchored by Walmart. The property was 77 percent leased at the time of sale to tenants including Goodwill, Dollar Tree and LA Fitness. Santan Gem LLC acquired the property from an entity created by LNR called GCCFC 2006-GG7 South Arizona Avenue LLC. Santan Gateway North is located at 1005 S. Arizona Ave., 25 miles southeast of downtown Phoenix. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller …
Cerritos, Calif. — SRS Real Estate Partners has arranged the sale of South Street Shops, a value-add retail property located at 10745 South St. in Cerritos. A Los Angeles-based private investor sold the two-tenant asset to a Southern California-based private investor for $4.3 million, or $237 per square foot. Built in 1969 and situated on 1.6 acres, the 18,096-square-foot South Street Shops is part of a larger, 95,000-square-foot community shopping center. Current tenants include SJJ Fitness & Sports Performance and one vacant space of approximately 4,000 square feet. The property …
East Rutherford, N.J. — Korean fashion retailer ALAND has signed a 10,000-square-foot lease at American Dream, an upcoming mixed-use development in East Rutherford, a western suburb of New York City. The store will be ALAND’s second location in the United States after its Brooklyn store opened in 2018. Canadian developer Triple Five Group will open over 3 million square feet of retail, entertainment and food destinations at American Dream in October 2019.
Fultondale, Ala. — LBX Investments has acquired Promenade Fultondale, a 208,568-square-foot retail center in Fultondale. The sales price was not disclosed. The property was completed in 2008 and is located five miles north of downtown Birmingham. The center was 96 percent leased at the time of sale to tenants including Ross Dress for Less, Five Below, JC Penney, Books-A-Million and Shoe Dept. Jim Hamilton, Mike Allison and Brad Buchanan of JLL represented the undisclosed seller in the transaction.
Denver — JLL has secured $20 million in refinancing for Central Park Retail, a multi-tenant retail center located at 1400 Plaza Drive in the Denver-area community of Highlands Ranch. The borrower is Shea Properties. Completed in 2018, the 61,443-square-foot property is occupied by 21 national and regional tenants, including Ent Credit Union, Rock Bottom Restaurant & Brewery, Shake Shack, Starbucks Coffee, Old Chicago Pizza and Taproom, Torchy’s Tacos and Orangetheory Fitness. Additionally, the nine-building property can be expanded to 64,243 square feet via development of the final pad site. Eric …
Pace, Fla. — Blackwater Resources has sold Pace Crossroads, a 75,904-square-foot shopping center in Pace. The property was fully leased at the time of sale to Dick’s Sporting Goods, Michael’s and Ulta Beauty. Pace Crossroads was built in 2018 and is located 15 miles northeast of Pensacola. Mark Joines, Drew Fleming and Henry Kushner of Newmark Knight Frank (NKF) represented the seller in the transaction. The buyer was a private buyer based in the Mid-Atlantic. The sales price was not disclosed.
Coconut Creek, Fla. — Hill Partners Inc. has signed Naked Taco, Xfinity interactive retail store, Coconut Vibe and Zervos Group to leases totaling more than 9,000 square feet within Promenade at Coconut Creek. Naked Taco will occupy 5,796 square feet of space beginning in November. The restaurant will feature Mexican food and cocktails. Xfinity will open an interactive retail store where customers can learn about the products Xfinity has to offer. The location will open in October. Coconut Vibe began as a pop-up shop that signed a longer-term lease. The …
Gainesville, Fla. — TSCG has brokered the sale of Gainesville Plaza, a 162,000-square-foot retail center situated along NW 13th Street in Gainesville. The center was 92.4 percent leased at the time of sale to tenants including Burlington, Ross Dress for Less, Sav-A-Lot, 2nd & Charles (a Books-A-Million concept), Lumber Liquidators and Hibbett Sporting Goods. The sale also includes a 1.4-acre outparcel fronting 13th Street that can accommodate 4,000- and 3,750-square-foot buildings. Gainesville Plaza was built in 1971 and renovated in 2014. Anthony Blanco of TSCG and his sales team represented …
Washington, D.C. — The U.S. Census Bureau reports that retail sales in July were up 0.9 percent from June and 5.6 percent year-over-year. The numbers exclude restaurants, gas stations and automobile sales but include e-commerce sales. July’s results build on gains of 0.6 percent month-over-month and 2.2 percent year-over-year seen in June. Specifics from key retail sectors during July include: Online and other non-store sales were up 19.3 percent year-over-year and up 2.8 percent month-over-month seasonally adjusted, likely boosted by Amazon’s Prime Day promotion, which the company said had more …
Clifton, N.J. — Filipino grocer FilStop will open a 16,000-square-foot flagship store in Clifton, a western suburb of New York City. The specialized grocery store will also maintain its original 4,000-square-foot location in Jersey City. The store will be located within Clifton Plaza, a 95,000-square-foot retail center anchored by Big Lots, Blink Fitness and Dollar Tree. The opening is slated for Aug. 22.