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Alex Tostado

Grocery-anchoredInvestment salesNew YorkNewsRetailers

Cushman & Wakefield Brokers Sale of 84,000-Square-Foot Ferndale Shopping Center in Larchmont, New York

by Alex Tostado

Larchmont, N.Y. — Cushman & Wakefield has brokered the sale of Ferndale Shopping Center, an 84,000-square-foot retail property in Larchmont, a northern suburb of New York City. Located at 1310-1340 Boston Post Road, the property was 96 percent occupied by seven tenants at the time of sale, including grocer Stop & Shop and a 24-hour CVS/pharmacy. The asset sold for approximately $35 million. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Kyle Schmidt of Cushman & Wakefield represented the undisclosed seller in the transaction. The team also …

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Investment salesNewsRetailersTexas

Retail Solutions Arranges Sale of 42,084-Square-Foot Crosspointe Shopping Center in El Paso

by Alex Tostado

El Paso, Texas — Retail Solutions has arranged the sale of Crosspointe Shopping Center, a 42,084-square-foot retail property located at 4717 Hondo Pass Drive in El Paso. According to LoopNet Inc., the property was built in 1987 and is situated on 2.5 acres. Chris Duncan of Retail Solutions represented the seller in the transaction. Patrick Gordon of Vista Star Realty represented the buyer. Both the seller and buyer were not disclosed.

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CaliforniaFinanceNewsRetailers

CBRE Arranges $9 Million Loan to Refinance Jurupa Valley Spectrum Retail Asset in Inland Empire

by Alex Tostado

Jurupa Valley, Calif. — CBRE Capital Markets’ Debt & Structured Finance team has arranged a $9 million loan for Kite Family Limited Partnership. The funds will be used to refinance debt on Jurupa Valley Spectrum, a retail asset in Jurupa Valley. Located at 8022-8082 Limonite Ave., the 124,949-square-foot retail center was 98 percent leased at the time of financing. Jurupa 14 Cinemas occupies approximately 48 percent of the property. Other tenants include Walgreens, Starbucks Coffee and the United States Postal Service. Shaun Moothart, Bruce Francis, Bob Ybarra, Dana Summers, Doug …

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EntertainmentFeaturesGeorgiaNewsRetailersSCBlog

Sports Entertainment Provides a Promising Future for Retail Real Estate

by Alex Tostado

Atlanta — The future of food and beverage retail is…sports? To hear from “The Future of Restaurants & Entertainment” panel at the ICSC Southeast Conference & Deal Making event, sports-centric concepts are a solid bet for retail real estate owners to pursue going forward. Produced by the International Council of Shopping Centers (ICSC), the event was held Nov. 13-15 at the newly renovated Georgia World Congress Center in downtown Atlanta. Justin Amick, president of Painted Hospitality, spoke during the panel about his two venues in Atlanta, The Painted Pin and …

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DevelopmentEntertainmentNewsRetailersTexas

Fun Movie Grill to Open 70,000-Square-Foot Venue at Mustang Square in Plano, Texas

by Alex Tostado

Plano, Texas — Fun Movie Grill, an entertainment concept that combines food, bowling, movies and games, will open a 70,000-square-foot venue in Plano. The eight-screen location will be part of Mustang Square, a 36-acre mixed-use development that will include 90,000 square feet of office space, hotels, residential villas and townhomes and a public plaza. Dan Avnery and Stewart Korte of NAI Robert Lynn represented the tenant and the landlord, Thakkar Developers, which broke ground on Phase I of the project in October, in the lease negotiations. The venue, which is …

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CaliforniaInvestment salesNewsRetailers

JLL Negotiates Sale of 49,149-Square-Foot Aliso Creek Shopping Center in Laguna Beach

by Alex Tostado

Laguna Beach, Calif. — LaSalle Investment Management has completed the disposition of Aliso Creek Shopping Center, a retail asset located at 30814-30936 Pacific Coast Highway in Laguna Beach. Although the sale price was not released, it marked the highest price-per-square-foot sold for an anchored shopping center in Orange County, according to JLL, which brokered the deal. Situated on 4.2 acres, Aliso Creek Shopping Center features 49,149 square feet of retail space and was fully leased at the time of sale. Tenants include CVS/pharmacy, as anchor, Yoga Works, Starfish Laguna, Fantastic …

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Investment salesNewsNorth CarolinaRetailers

SRS Arranges $5.8 Million Sale of Newly Built Retail Center in Winston-Salem, North Carolina

by Alex Tostado

Winston-Salem, N.C. — SRS Real Estate Partners’ National Net Lease Group has arranged the $5.8 million sale of Shops at Stratford in Winston-Salem on behalf of the seller and developer, Encore Real Estate. The buyer, a locally based private investor, purchased the 13,500-square-foot, multi-tenant retail center in a 1031 exchange. Built in 2018, the property is situated on 1.2 acres and is fully occupied by four tenants including First Watch and Mattress Warehouse. Patrick Nutt and Connor Barton of SRS represented Encore Real Estate, and Steen Spove of Deep River …

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ColoradoInvestment salesNewsRetailers

CBRE Brokers $4.1 Million Sale of E Shops at Mesa Ridge in Fountain, Colorado

by Alex Tostado

Fountain, Colo. — CBRE has arranged the sale of E Shops at Mesa Ridge, a retail center located at 6825 Mesa Ridge Parkway in Fountain. A Los Angeles-based private real estate fund sold the asset to a private discretionary investor for $4.1 million. Built in 2013, the 9,380-square-foot property features five tenant spaces. At the time of sale, the property was fully occupied by Noodles & Co., Sprint, Jersey Mike’s, Sports Clips and H&R Block. Parker Brown, Matthew Henrichs and Brad Lyons of CBRE Capital Markets, National Retail Partners, represented …

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ArizonaGrocery-anchoredInvestment salesNewsRetailers

Vestar Sells Grocery-Anchored Shopping Center for $18.2 Million in Gilbert, Arizona

by Alex Tostado

Gilbert, Ariz. — Phoenix-based Vestar has completed the sale of Lakeview Village at Morrison Ranch, a shopping center located at the corner of Higley and Elliot roads in Gilbert. Colorado-based JFRCO acquired the asset for $18.2 million. Developed in 2014, the 93,741-square-foot retail center is anchored by a 52,443-square-foot Bashas. At the time of sale, the property was 98.6 percent leased to a variety of tenants, including Dance Republic, Panda Express, UPS Store and Edward Jones. Ryan Schubert and Michael Hackett of Cushman & Wakefield represented the seller, while John …

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FinanceMichiganNewsRetailers

Berkadia Arranges $23.2 Million Refinancing for Retail Property in Michigan

by Alex Tostado

Shelby Township, Mich. — Berkadia has arranged a $23.2 million loan for the refinancing of The Shops at Stony Creek, a 325,000-square-foot shopping center in Shelby Township. LA Fitness, TJ Maxx, Ulta, Petco and Five Below anchor the property, which is located at the southwest corner of 26 Mile Road and Van Dyke Avenue. Kroger shadow anchors the property. Colin Callaghan and Aaron Moll of Berkadia arranged the 10-year, fixed-rate loan, which features a 30-year amortization and a 75 percent loan-to-value ratio. Michigan-based MJC Homes Inc. was the borrower. The …

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