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Alex Tostado

Investment salesNewsRetailersTexas

Pillar Capital Sells Retail Power Center in Abilene for $20.1 Million

by Alex Tostado

Abilene, Texas — Arizona-based private investment firm Pillar Capital Group has sold The Shops at Abilene Village, a 145,000-square-foot retail power center in West Texas, for $20.1 million. Anchored by Academy Sports + Outdoors, the center also houses tenants such as Burlington, Petco, Party City and Five Below. Brandon Duff and Tom Fritz of Oklahoma-based net-lease brokerage firm Stan Johnson Co. represented the seller in the transaction. Texas-based Nooner Holdings Ltd. acquired the Abilene asset, which has a traffic count of more than 104,000 vehicles per day, via a 1031 …

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FloridaInvestment salesNewsRetailers

Marcus & Millichap Negotiates $11 Million Sale of Retail Center in Central Florida

by Alex Tostado

Haines City, Fla. — Marcus & Millichap has arranged the $11 million sale of Heart of Florida Shopping Center in Haines City. The 131,500-square-foot shopping center is located at 35874-35938 Highway 27, 40 miles southwest of downtown Orlando. The shopping center was originally built in 1984. At the time of sale, 82 percent of the center’s tenant lineup was national retailers including Dollar General, Tractor Supply and Big Lots. The buyer was a Florida investor in a 1031 tax-deferred exchange. Tim Giambrone of Marcus & Millichap represented the seller, a …

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Company newsFloridaNews

Equinox Development Hires Genny Hall to Oversee Leasing

by Alex Tostado

Maitland, Fla. — Equinox Development Properties Inc. has hired Genny Hall as senior vice president and a partner to oversee the leasing for all developments and retailer relationships. Hall has more than 15 years of retail brokerage experience. Prior to joining Equinox, Hall served as the managing director of retail services at Colliers International in Central Florida. Maitland, Florida-based Equinox Development specializes in developing retail, mixed-use and boutique commercial projects.

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CaliforniaLeasingNewsRetailers

Chuze Fitness Signs 45,000-Square-Foot Lease in Inland Empire

by Alex Tostado

Fontana, Calif. — Progressive Real Estate Partners has signed Chuze Fitness to a 45,000-square-foot lease with Morningside Marketplace in Fontana. Chuze Fitness will occupy the space of a former Ralphs Grocery, leaving 12,000 square feet of space for a soon-to-be-named co-tenant. Morningside Marketplace is a 90,000-square-foot retail center located at 14574 Baseline Ave. The center is fully leased to tenants including Chase Bank, Great Clips, Chevron, KFC, Pizza Hut, Baskin Robbins, Togo’s and Wienerschnitzel. The new Chuze Fitness is scheduled to open early next year. Paul Su of Progressive represented the …

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Uncategorized

Three Retailers Return to Miami Beach’s Lincoln Road, Two Food Halls Debut

by Alex Tostado

Miami Beach, Fla. — Miami Beach’s Lincoln Road has seen new activity with the return of three retailers and the opening of two new food halls. Lincoln Road Business Improvement District (BID) has announced three retailers are returning to Lincoln Road, Miami Beach’s high street for upscale retail, restaurants and entertainment, according to Lincoln Road BID. The three retailers — Fritz’s Skate, Bike & Surf Shop; Dog Bar; and Lulu Laboratorium — all had original locations on Lincoln Road. Fritz’s originally opened on Lincoln Road in 1989 before moving a …

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CaliforniaInvestment salesNewsRetailers

Sterling Organization Acquires Value-Add Retail Center in Metro San Diego for $27 Million

by Alex Tostado

Poway, Calif. — Sterling Organization has acquired Poway Crossings, a 109,455-square-foot, retail center in Poway, for $27 million. Sterling Organization bought the property through its value-add fund, Sterling Value Add Partners III LP. Poway Crossing is located 12622-12654 Poway Road, 20 miles north of downtown San Diego. LA Fitness anchors the property, and other tenants include Dollar Tree, Big 5 Sporting Goods, Massage Envy, Sola Salon Studios, Sushi Lounge, Banfield Pet Hospital and KFC. Gleb Lvovich and Daniel Tyner of HFF represented the undisclosed seller in the transaction.

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DevelopmentFloridaNewsRestaurants

Ferber to Acquire Vacant Building in Downtown Jacksonville, Announces Initial Tenant Lineup

by Alex Tostado

Jacksonville, Fla. — The Ferber Co. has entered into a contract to acquire Brooklyn Place, a vacant building that sits on 1.5 acres in downtown Jacksonville. The initial tenant lineup at the 11,500-square-foot site includes Panera Bread and Bento Asian Kitchen + Sushi. There is a 1,520-square-foot space available. Ferber expects the land acquisition to close this summer and will begin construction immediately after. Completion is scheduled for summer 2020. A sales price and seller for the land acquisition were not disclosed.

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CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNewsRetailers

Faris Lee Investments Arranges $6.9 Million Sale of Restoration Hardware Location in Orange County

by Alex Tostado

Irvine, Calif. — Faris Lee Investments has arranged the sale of a retail property located in Irvine. A Los Angeles-based buyer acquired the asset from an Irvine-based seller for $6.9 million. Restoration Hardware occupies the property. Rick Chichester, Tom Chichester and Joe Chichester of Faris Lee Investments represented the seller and buyer in the deal.

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FinanceMassachusettsNewsRetailers

Citizens Commercial Provides $435 Million Construction Loan for Boston Retail, Office Project

by Alex Tostado

Boston — Citizens Commercial Banking has provided a $435 million construction loan for a 500,000-square-foot office and retail project in Boston’s Seaport District. The new building at 111 Harbor Way will feature two floors of retail space and 15 floors of office space that Amazon will fully occupy. Construction of the project is scheduled for completion by 2021. The borrower, a partnership between locally based investment firm WS Development and Canada’s Public Sector Pension Investment Board, officially broke ground on the building May 28. The partnership is the lead developer …

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DevelopmentFloridaNewsRetailers

Lote Group to Renovate Shopping Center in North Florida

by Alex Tostado

Jacksonville, Fla. — Lote Group will renovate the Shoppes of Northshore, a 17,000-square-foot shopping center in Jacksonville’s Atlantic Beach submarket. The renovations are expected to include giving the center a modern look while preserving the beach-style architecture of the area. Renovations are expected to be complete by the end of this year. Whitney Butler of Franklin Street is leading the leasing efforts on behalf of Lote. Local restaurants, boutique retailers and fitness and wellness concepts are being targeted for the project. Shoppes of Northshore is located four blocks from the …

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