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Alex Tostado

Big V Acquires 322,428-Square-Foot Shopping Center in North Charleston

by Alex Tostado July 1, 2019

North Charleston, S.C. — Big V Property Group has acquired Promenade at Northwoods, a 322,428-square-foot shopping center in North Charleston. Hobby Lobby, Gander Outdoors and Ollie’s Bargain Outlet anchor the center, which was 85 percent leased at the time of sale. Other tenants include Boot Barn, Party City, Crunch Fitness, Moe’s Southwest Grill, Landmark Financial and Once Upon a Child. Promenade at Northwoods is located off Interstate 26, across from Northwoods Mall and 15 miles north of downtown Charleston. The seller and sales price were not disclosed.

July 1, 2019

Investment sales News Retailers Texas

Disney Investment Group Arranges Sale of 126,654-Square-Foot Retail Center Near Fort Worth

by Alex Tostado July 1, 2019

Southlake, Texas — Dallas-based Disney Investment Group has arranged the sale of Kimball Oaks, a 126,654-square-foot retail center in Southlake, a northern suburb of Fort Worth. The property was 97 percent leased at the time of sale to tenants such as PGA Tour Superstore, Marshalls, Tuesday Morning and Bassett Furniture. Disney represented the seller, locally based investment firm Strode Property Co., in the transaction. A private exchange buyer purchased the property for an undisclosed price.

July 1, 2019

Investment sales Net lease News Retailers Tennessee

B+E Brokers $6.8 Million Sale of Academy Sports Net-Leased Property in Western Tennessee

by Alex Tostado July 1, 2019

Jackson, Tenn. — B+E has brokered the $6.8 million sale of an Academy Sports + Outdoors net-leased property in downtown Jackson. The buyer, Chimblo Family Real Estate LLC, worked with B+E to complete a 1031 Tax Deferred Exchange via B+E’s online sales platform. The property is located at 193 Stonebrook Place. Academy has 12 years remaining on its lease. The seller was not disclosed.

July 1, 2019

Indiana Investment sales News Retailers

Marcus & Millichap Negotiates $5 Million Sale of Retail Property in Elkhart, Indiana

by Alex Tostado July 1, 2019

Elkhart, Ind. — Marcus & Millichap has negotiated the sale of Goshen Village Shoppes in Elkhart for $5 million. The 37,135-square-foot retail property is located at 4542 Elkhart Road. Built between 2004 and 2006, the property is 75.2 percent occupied by Little Caesars Pizza, AT&T, Panera Bread, Mattress Warehouse, Great Clips and Starbucks. Jordan Goodman, Jeff Rowlett and Matt Fitzgerald of Marcus & Millichap brokered the transaction. Buyer and seller information was not disclosed.

July 1, 2019

Investment sales News Retailers Washington DC

WashREIT Agrees to Sell Eight Retail Assets, Increases Focus on Multifamily Sector

by Alex Tostado June 28, 2019

Washington, D.C. — WashREIT (NYSE: WRE) has agreed to sell five of its retail properties for $485 million, plus an additional three power centers, as part of a strategic move to increase its investment in the multifamily sector. The first sale agreement includes five retail properties totaling 800,000 square feet. Those assets include Gateway Overlook in Columbia, Md.; Wheaton Park in Wheaton, Md.; Olney Village Center in Olney, Md.; and Bradlee Shopping Center and Shoppes of Foxchase in Alexandria, Va. First Washington Realty acquired the properties. Daniel Finkle, Stephen Conley, …

June 28, 2019

Investment sales News Oklahoma Retailers

Disney Negotiates Sale of 417,515-Square-Foot Retail Power Center in Norman, Oklahoma

by Alex Tostado June 28, 2019

Norman, Okla. — Dallas-based Disney Investment Group has negotiated the sale of University Town Center, a 417,515-square-foot retail power center in Norman. The property was 99 percent leased at the time of sale to tenants such as T.J. Maxx, HomeGoods, Academy Sports + Outdoors, Kohl’s and Michael’s. Disney represented the undisclosed seller in the transaction. The buyer was an entity controlled by Rainier Realty Investments, which partnered with CIL2 REIT LLC, managed by Continuum Holdings. Dallas-based Metropolitan Capital Advisors arranged acquisition financing for the deal.

June 28, 2019

Florida Grocery-anchored Investment sales News Retailers

Plaza Advisors Arranges Sale of 90,328-Square-Foot Shopping Center in Metro Tampa

by Alex Tostado June 28, 2019

Temple Terrace, Fla. — Plaza Advisors has arranged the sale of Temple Terrace Plaza, a 90,328-square-foot shopping center in Temple Terrace. The Winn Dixie-anchored property was 95 percent leased at the time of sale to tenants including the United States Post Office, Greenberg Dental, Sally Beauty, Rainbow, Mariner Finance and Sprint. Temple Terrace Plaza is located at 8837 N. 56th St., nine miles north of downtown Tampa. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller, a REIT, in the transaction. The buyer was an undisclosed private equity …

June 28, 2019

Arizona Investment sales News Retailers

Hanley Investments Arranges $7.6 Million Sale of Retail Pad Building in Glendale, Arizona

by Alex Tostado June 28, 2019

Glendale, Ariz. — Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant pad building located at 7870 W. Bell Road in Glendale. ECC Bell Road Property LLC sold the asset to a family trust based in Orange County, Calif., for $7.6 million, or $901 per square foot. Tenants at the 8,433-square-foot property include The Habit Burger Grill, Tempur-Pedic, Pearle Vision and Blaze Pizza. The 1.2 million-square-foot Arrowhead Towne Center Mall shadow anchors the asset. Bill Asher and Jeff Lefko of Hanley Investment represented the seller, while …

June 28, 2019

California Investment sales News Retailers

Flocke & Avoyer Negotiates $4.8 Million Sale of Three Retail Parcels in Ramona, California

by Alex Tostado June 28, 2019

Ramona, Calif. — Flocke & Avoyer Commercial Real Estate has arranged the sale of three retail parcels, totaling 22,527 square feet, at Stonegate Plaza Shopping Center in Ramona. Trevor Associates acquired the assets from Lesser-Moore South Coast for $4.8 million. Goodwill, The UPS Store, T-Mobile, Sally’s Beauty Supply and Itan occupy the parcels, located at 1668, 1672 and 1676 Main St. Stater Bros and Rite Aid serve as shadow anchors. Bryan Cunningham of Flocke & Avoyer represented the seller, while Steve Hollenbeck represented the buyer in the deal.

June 28, 2019

Features Retailers SCBlog

Q&A: Best Practices for Filling Vacant Big Box Space

by Alex Tostado June 25, 2019

Shopping Center Business recently sat down with Cynthia Nelson, senior managing director in the real estate solutions practice at FTI Consulting, to discuss the current retail landscape and tips and tricks for tackling big box vacancies. Tell me a bit about your outlook on the retail landscape at current. We’re going through a huge transformation in terms of how consumers buy retail goods and services and it is taking a toll on our shopping centers. Many big box spaces formerly occupied by retailers like Toys ‘R’ Us are going dark. …

June 25, 2019

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