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Alex Tostado

CIM Group Sells Retail Property in Loganville, Georgia for $15.6 Million

by Alex Tostado June 24, 2020

Loganville, Ga. — CIM Group has sold North Logan Commons, a 175,969-square-foot retail property in Loganville, for $15.6 million. The asset was 83 percent leased at the time of sale to tenants including anchors TJ Maxx, Dick’s Sporting Goods, OfficeMax and PetSmart. Co-tenants include Five Guys Burgers & Fries, Anytime Fitness and Sally Beauty. North Logan Commons is situated at 4022 Atlanta Highway, 37 miles east of downtown Atlanta. Fred Victor of Transwestern represented the Los Angeles-based seller in the transaction. New York City-based Big V Group acquired the property.

June 24, 2020

California Development Mixed-use News Retailers

Shapell Liberty Investment Completes Retail Component of Vineyards at Porter Ranch Mixed-Use Center in Los Angeles

by Alex Tostado June 22, 2020

Los Angeles — Shapell Liberty Investment Properties has completed the lifestyle and entertainment portions of The Vineyards at Porter Ranch, a $150 million mixed-use development in Los Angeles’ Porter Ranch neighborhood. AO Architects designed this portion of The Vineyards, which features 273,000 square feet of open-air, mixed-use space at 20000-20250 W. Rinaldi St. The pedestrian-friendly development includes a main street, central green area for community events and a 4,000-square-foot community meeting room. Current tenants of the property include Whole Foods Market, AMC Theaters, Ulta Beauty, Nordstrom Rack, Gus’s Barbeque, Lure …

June 22, 2020

Company news Grocery-anchored News Ohio Retailers

Kroger Reports 92 Percent Digital Sales Growth in First Quarter

by Alex Tostado June 22, 2020

Cincinnati — Digital sales at the Kroger Co. (NYSE: KR) increased 92 percent in the first quarter, according to the company’s latest financial results. Total company sales were $42 billion in the first quarter, compared with $37 billion for the same period last year. Kroger does not separately break out its e-commerce sales from total sales. Excluding fuel and dispositions, sales grew 19.1 percent. Cincinnati-based Kroger says its most urgent priority during the pandemic has been “to provide a safe environment for associates and customers with open stores, e-commerce solutions …

June 22, 2020

Grocery-anchored Investment sales Ohio Retailers

IPA Brokers $46 Million Sale of Giant Eagle-Anchored Shopping Center in Ohio

by Alex Tostado June 22, 2020

Cuyahoga Falls, Ohio — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $46 million sale of The Plaza at Chapel Hill in Cuyahoga Falls, about 35 miles south of Cleveland. The 458,935-square-foot shopping center is home to Giant Eagle, Burlington and Dick’s Sporting Goods. Scott Wiles, Erin Patton, Craig Fuller, Joseph French Jr. and CJ Jackson of IPA represented the seller, a New York City-based private real estate investment trust. A partnership between Baltimore-based America’s Realty LLC, New York-based Borough Equities and Miami-based Dragonfly Investments …

June 22, 2020

Development Florida Grocery-anchored News Retailers

Publix Opens 25,147-Square-Foot GreenWise Organic Grocery Store Near Tampa

by Alex Tostado June 22, 2020

Odessa, Fla. — Publix Super Markets Inc. has opened a 25,147-square-foot GreenWise Market in Odessa, its fourth Florida location for the grocer. The organic grocery store is situated within Preserve Marketplace, a shopping center located along State Road 54 about 25 miles north of Tampa. The Sembler Co. is the owner of the newly built, 56,331-square-foot shopping center. The new GreenWise includes five “experience zones” labeled Cares (vitamins and soaps), Cuts (meats), Eats (prepared meals including sandwiches and pizza), Finds (wine and cheese) and Pours (a bar serving wine, coffee …

June 22, 2020

Uncategorized

Hanley Investment Group Negotiates $4.9 Million Sale of Retail Building in Fontana, California

by Alex Tostado June 22, 2020

Fontana, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a newly constructed, multi-tenant retail building, located at 16914 S. Highland Ave. in Fontana. Adler Realty, a Woodland Hills, California-based developer, sold the asset to a Sun Valley, California-based private investor for $4.9 million. The 7,500-square-foot property consists of three tenants: a Pacific Dental Services-branded dental office, Arrowhead Credit Union and MJ Nail & Spa. The building is located adjacent to Highland Village Shopping Center, a 30,000-square-foot retail center that was completed in 2019. Tenants at …

June 22, 2020

Investment sales News Retailers Texas

Marcus & Millichap Arranges Sale of 14,240-Square-Foot Retail Strip Center in Prosper, Texas

by Alex Tostado June 22, 2020

Prosper, Texas — Marcus & Millichap has arranged the sale of North Preston Village, a 14,240-square-foot retail strip center in Prosper, about 35 miles north of Dallas. The property was built on two acres in 2018 and houses tenants such as Orangetheory Fitness and restaurant The Brass Tap. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a partnership, in the transaction. The buyer was a locally based 1031 exchange investor.

June 22, 2020

Florida Investment sales Net lease News Retailers

SRS Brokers $4.7 Million Sale of New Retail Property Leased to 7-Eleven in Southwest Florida

by Alex Tostado June 22, 2020

Fort Myers, Fla. — SRS National Net Lease Group has arranged the $4.7 million sale of a retail property leased to 7-Eleven in Fort Myers. The property comprises a 2,961-square-foot convenience store and a gas station. A 15-year lease is in place with 7-Eleven Inc. for the property, which was completed in late 2019. The asset is situated at 6715 Winkler Road, seven miles south of downtown Fort Myers. Parker Walter of SRS represented the buyer, a California-based private investor that was in a 1031 exchange, in the transaction. The …

June 22, 2020

Company news News Retailers Texas

AT&T to Close 250 AT&T Mobility and Cricket Wireless Stores, Says Telecomm Union

by Alex Tostado June 17, 2020

Dallas — The Communication Workers of America (CWA) has announced that Dallas-based AT&T has informed the telecommunications and IT union its plans to permanently shutter 250 AT&T Mobility and Cricket Wireless stores. The move would impact 1,300 retail jobs. There are currently more than 16,000 AT&T retail locations in the United States, including authorized retailers and company-owned stores and kiosks. CWA also reports that A&T plans to cut 3,400 technician and clerical jobs across the country over the next few weeks. The Dallas Morning News reports that AT&T had to inform …

June 17, 2020

Development Illinois News Retailers

GBT Realty to Develop 53,000-Square-Foot Retail Center Near St. Louis

by Alex Tostado June 17, 2020

O’Fallen, Ill. — GBT Realty Corp. will develop Shoppes at Richland Creek, a 53,000-square-foot retail center in O’Fallon, an eastern suburb of St. Louis. In March, GBT purchased the 17-acre site from Vantage Credit Union for an undisclosed price. Shoppes at Richland Creek is approximately 70 percent pre-leased to tenants such as Smoothie King, Chicken Salad Chick, Pacific Dental, Five Guys Burgers + Fries, Taco Bell, Burger King, Popeyes and Tidal Wave Luxury Car Wash. Completion is slated for summer 2021.

June 17, 2020

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