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Alex Tostado

Investment salesKentuckyNewsRetailers

Hendon, Harbert Sell Shopping Center in Louisville for $30.3 Million

by Alex Tostado

Louisville, Ky. — A joint venture between Hendon Properties and Harbert United States Real Estate Fund VI LP (HUSREF VI) has sold Westport Village, a 169,515-square-foot shopping center in Louisville, for $30.3 million. Westport Village is situated at 1315 Herr Lane, 10 miles east of downtown Louisville. Since acquiring the site in May 2016, Hendon Properties has signed 13 new leases totaling 56,000 square feet and renewed 32 leases totaling 102,000 square feet. Birmingham, Ala.-based Wicker Park Capital Management LLC acquired the center.

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FinanceMarylandNewsRetailers

KeyBank Provides $26.6 Million Loan for Refinancing of Retail Property in Suburban Maryland

by Alex Tostado

Pasadena, Md. — KeyBank Real Estate Capital has provided a $26.6 million, non-recourse bridge loan to refinance Pasadena Crossroads, a 320,249-square-foot retail center in Pasadena. The loan includes funds for leasing and capital expenditures. The center was originally built in 1973 and was renovated earlier this year. Hobby Lobby, Art Van Furniture, LA Fitness and Sprouts Farmers Market anchor the property, which is 37 percent leased. Jacob Proctor of KeyBank arranged financing on behalf of the undisclosed borrower.

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Investment salesNewsRetailersTexas

Disney Investment Group Arranges $17 Million Sale of Towne North

by Alex Tostado

Irving, Texas — Dallas-based Disney Investment Group has arranged the $17 million sale of Towne North, a 124,289-square-foot shopping center in Irving. Anchored by El Rancho Supermarket, the property was 84 percent leased at the time of sale. David Disney and Adam Crockett of Disney Investment Group represented the seller, an entity controlled by HSM Equities, and procured the undisclosed buyer.

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Investment salesMallsNewsOregonRetailers

Overbay Development Co. Sells Wagner Mall, Pinebrook Plaza in Bend, Oregon

by Alex Tostado

Bend, Ore. — Overbay Development Co. has completed the disposition of Wagner Mall and Pinebrook Plaza, two shopping centers located in Bend. Western Pacific Holdings acquired the both assets for an undisclosed price. Located at 1800 NE Third St., Wagner Mall features 108,818 square feet of retail space, including Albertsons, Rite Aid and Aaron’s as tenants. The Wagner Mall sale include the mall, large box spaces and the surrounding pad sites, totaling 9.35 acres. Located at 61155 Highway 97, the 59,509-square-foot Pinebrook Plaza is currently home to Albertsons and other …

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Investment salesMaineNewsRetailers

Cardente Negotiates Sale of 24,150-Square-Foot Retail Center in Portland, Maine

by Alex Tostado

Portland, Maine — Cardente Real Estate has negotiated the sale of Brighton Avenue Plaza, a 24,150-square-foot retail center located at 1041 Brighton Ave. in Portland, for approximately $3 million. Greg Perry of Cardente represented the buyer, All-American Family LLC, in the transaction. Charles Day of Porta & Co. represented the seller, 1041 Brighton Ave. LLC. The property was built in 1988.

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CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Negotiates $4.1 Million Sale of Four-Tenant Asset in Huntington Beach

by Alex Tostado

Huntington Beach, Calif. — Hanley Investment Group Real Estate Advisors has facilitated the sale of a multi-tenant retail building, located at 6946-6968 Warner Ave. in Huntington Beach. A San Diego-based private investor acquired the property from a Newport Beach, Calif.-based private investor for $4.1 million. Eric Wohl of Hanley Investment Group represented the seller, while Randy Rivera of Capital Real Estate Ventures represented the buyer in the deal. At the time of sale, the four-tenant, 8,600-square-foot retail property was fully occupied by Trading Post Fan Co., Advanced Dental Huntington Beach, …

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GeorgiaInvestment salesNewsRetailers

Jamestown Acquires The Shops Buckhead Atlanta

by Alex Tostado

Atlanta — Jamestown has acquired The Shops Buckhead Atlanta, a 355,646-square-foot retail and office property in Atlanta’s Buckhead district. Situated along Peachtree Road and bounded by Pharr Road and Buckhead Avenue, The Shops Buckhead Atlanta is home to international retail brands such as Hermès and Tom Ford, as well as restaurants, entertainment and fitness tenants. The office space is fully leased to two tenants, Spanx’s global headquarters and No18, the first U.S. coworking location. Additionally, the property includes two prime development sites totaling 2.7 acres. OliverMcMillan developed the upscale, six-block property …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

Cushman & Wakefield Arranges $49 Million Sale of Whole Foods-Anchored Shopping Center in Southwest Florida

by Alex Tostado

Fort Myers, Fla. — Cushman & Wakefield has arranged the $49 million sale of Daniels Marketplace, a 106,739-square-foot shopping center in Fort Myers. The site, situated at 6891 Daniels Parkway, was fully leased at the time of the sale to tenants including Whole Foods Market, a salon, dentist, Pilates gym, dry cleaner, pet hospital and several fast-casual restaurants such as Mellow Mushroom and Panera Bread. There are also future development opportunities at the property. Fain Hicks, Mark Gilbert, Lane Breedlove, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented …

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CaliforniaInvestment salesNewsRestaurants

Bolour Associates Acquires Quick-Serve Restaurant Site in Los Angeles for $7.4 Million

by Alex Tostado

Los Angeles — Beverly Hills, California-based Bolour Associates has purchased 0.69 acres, located at 163-179 S. Vermont St. in Los Angeles’ Koreatown, for $7.4 million. Simultaneous to the acquisition, Bolour signed long-term ground lease with an undisclosed quick-serve restaurant for the site. The site’s new tenant signed a 15-year, triple-net lease and is expected to complete tenant improvements on a standalone 3,209-square-foot building, located on the property, before opening for business. Alex Sachs and Brian Peterson of WESTMAC Commercial Brokerage Co. represented the buyer and undisclosed seller. Michael Pakravan of …

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CaliforniaInvestment salesNewsRetailers

Locker Realty Corp. Arranges $6.2 Million Acquisition of Starbucks-Occupied Building in Monrovia, California

by Alex Tostado

Monrovia, Calif. — Locker Realty Corp. has arranged the purchase of a restaurant and drive-thru property located West Huntington Drive in Monrovia. An undisclosed buyer acquired the property for $6.2 million. Starbucks Coffee occupies the recently completed, 2,200-square-foot building, which is situated on 27,975 square feet of land. The tenant relocated to the new location, which includes a drive-thru and outdoor patio, from 621 W. Huntington Drive. The lease is a corporate signature Starbucks net lease with approximately 20 years remaining. Paul Locker and Kristine Locker of Locker Realty represented …

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