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Alex Tostado

CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Donahue Schriber Purchases Two Bay Area Shopping Centers for Nearly $132 Million

by Alex Tostado

San Francisco And Antoich, Calif. — Donahue Schriber has acquired two grocery-anchored retail centers for a total of nearly $132 million. The acquisitions expand the company’s presence in the San Francisco Bay area. In the first deal, Donahue Schriber purchased Lakeshore Plaza in San Francisco. Located at 1549 Sloat Blvd., the 172,364-square-foot center was built in 1993 and serves the Sunset District, West Portal and Saint Francis Wood. Lucky, Ross Dress for Less, Petco and Big 5 Sporting Goods anchor the retail property. This acquisition represents the company’s second purchase …

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GeorgiaMixed-useNewsRetailers

CBRE Global Investors Purchases Alpharetta City Center

by Alex Tostado

Alpharetta, Ga. — JLL has arranged the sale of Alpharetta City Center, a mixed-use development featuring 168 residential units, a town green and 82,700 square feet of retail and restaurant space. The District, a 41,650-square-foot collection of local boutiques and service providers, sits at street level below the apartments. The Gardens, developed by Morris & Fellows, houses 41,050 square feet of chef-driven restaurants spanning two acres of parks and green spaces across three city blocks of Main Street. The retail and restaurants were fully leased at the time of sale. …

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Grocery-anchoredInvestment salesNewsRetailersWest Virginia

Palomar Group Trades 135,804-Square-Foot, Kroger-Anchored Shopping Center in Oak Hill, West Virginia

by Alex Tostado

Oak Hill, W.Va. — The Palomar Group has sold Fayette Square, a 135,804-square-foot, Kroger-anchored shopping center in Oak Hill. The property was 92 percent leased at the time of sale to tenants including Kroger, Goodwill, Burger King, Big Lots, Sherwin Williams, Anytime Fitness and AutoZone. Kroger recently renewed its lease for another five-year term at the location, which is situated three miles north of downtown Oak Hill. The buyer and sales price were not disclosed.

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CaliforniaInvestment salesNewsRetailers

Westside Retail Arranges $8.2 Million Sale of Freestanding Retail Building in Southern California

by Alex Tostado

Culver City, Calif. — Westside Retail has arranged the sale of a freestanding retail building, located at 4411 Sepulveda Blvd. in Culver City. Tova Capital Inc. acquired the asset from Drucker Living Trust for $8.2 million, or approximately $680 per square foot. Samy’s Camera occupies the 12,054-square-foot building. Originally built in 1989 by the owner and operator of Allied Model Trains, the building’s architecture is a replica of the historic Los Angeles Union Train Station. Mark Einbund and Marc Pollock of Westside Retail represented the seller, while Daniel Pickard of …

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CaliforniaInvestment salesNewsRetailers

Capstone Advisors Disposes of Sabre Springs Plaza Retail Center in San Diego for $6.8 Million

by Alex Tostado

San Diego — An affiliate of Capstone Advisors has completed the sale of Sabre Springs Plaza, a retail center in San Diego’s Sabre Springs community. A Southern California-based private investor acquired the property for $6.8 million. Located at the intersection of Poway Road and Springbrook Drive, the asset features 15,038 square feet of retail space. Phil Voorhees of CBRE’s National Retail Partners – West represented the seller, while Gary Stache of CBRE represented the buyer in the deal. Capstone Advisors has owned and operated the retail center since it acquired …

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SCBlog

Cafaro Retooling Vacant Anchor Spaces

by Alex Tostado

Cafaro Co.’s longevity (70 years as a shopping center developer and owner), the long-term business relationships established over six decades and the leasing team’s tenacity and execution are the reasons for the success Cafaro has achieved recently in re-developing vacant Anchor Boxes in their Portfolio of enclosed malls. A few years ago at Kennedy Mall in Dubuque, Iowa, long-time Anchor Store Sears closed in early Spring. Nine months later, Planet Fitness opened an 18,000-square-foot space on the first floor. A year after that, Vertical Jump Park opened in 26,000 square …

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ArizonaDevelopmentGrocery-anchoredNewsRetailers

Evergreen Devco Breaks Ground on 172,000-Square-Foot Shopping Center in Metro Phoenix

by Alex Tostado

Gilbert, Ariz. — Evergreen Devco has commenced construction for The Post at Cooley Station, a grocery-anchored shopping center located at the southeast corner of Recker and Williams Field roads in Gilbert. Situated on 23 acres, the retail center will feature 23,000 square feet of multi-tenant shop space in three buildings. Anchored by Fry’s Marketplace, the project will also include AutoZone, Taco Bell and Burger King. Currently, the center is 65 percent preleased, with one junior-anchor pad available. Butler Design Group, Optimus Civil Design Group, Kraemer Engineers and Laskin & Associates …

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FloridaGrocery-anchoredInvestment salesNewsRetailersVirginia

Branch Properties Buys Two Grocery-Anchored Shopping Centers in Florida, Virginia for $47 Million

by Alex Tostado

Punta Gorda, Fla. and Williamsburg, Va. — Branch Properties LLC has acquired two grocery-anchored shopping centers in the Southeast for $47 million. The two properties are Burnt Store Marketplace in Punta Gorda and Lightfoot Marketplace in Williamsburg. Branch Properties acquired the 95,625-square-foot Burnt Store Marketplace for $17 million. A 46,500-square-foot Publix anchors the center, which includes four undeveloped outparcels. The center was 88 percent leased at the time of sale to tenants including Anytime Fitness, Pet Supermarket and The Home Depot, which was not a part of the sale. Built …

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CaliforniaGrocery-anchoredInvestment salesNewsRetailers

NKF Arranges Sale of 112,092-Square-Foot Shopping Center in Northern California

by Alex Tostado

Vacaville, Calif. — Newmark Knight Frank (NKF) has arranged the sale of Creekside Center, a 112,092-square-foot shopping center in Vacaville. Raley’s Supermarket anchors the center, which was fully leased at the time of sale. Creekside Center is located at 3079 Alamo Drive, three miles southeast of downtown Vacaville and 35 miles southwest of downtown Sacramento. Nicholas Bicardo and Brandon Rogoff of NKF represented the seller, Weingarten Realty Investors, in the transaction. The buyer and sales price were not disclosed.

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Investment salesMissouriNewsRetailers

Hanley Investment Group Negotiates $3.9 Million Sale of Michaels-Occupied Property in Kansas City

by Alex Tostado

Kansas City, Mo. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a single-tenant property occupied by Michaels in Kansas City for $3.9 million. The 22,810-square-foot building is situated on 1.9 acres at 8551 Prairie View Blvd. Renovated in 2012, the property serves as a pad site to Zona Rosa, a 1 million-square-foot retail center. Jeff Lefko and Bill Asher of Hanley represented the seller, Texas-based N3 Real Estate. Steve Maynard of Maynard Group represented the buyer, a private partnership from Southern California and Missouri.

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