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Katie Sloan

2420-Gulf-Bay-Blvd_Clearwater
FloridaInvestment salesNews

SRS Brokers $4.6 Million Sale of New Strip Retail Center in Suburban Tampa

by Katie Sloan

Clearwater, Fla. — SRS Real Estate Partners has brokered the $4.6 million sale of a strip retail center located at 2420 Gulf to Bay Blvd. in Clearwater, a suburb of Tampa. Situated within a mile from Clearwater Mall, the 6,750-square-foot property is fully leased to three tenants on long-term leases: Jersey Mike’s Subs, My Eye Dr. and MD Now Urgent Care. An unnamed South Florida-based private investor purchased the property at a 6.2 percent cap rate. Patrick Nutt and William Wamble of SRS represented the seller, an unnamed developer based …

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Crunch-Fitness_Centre-Hagerstown
LeasingMarylandNews

Continental Realty Corp. Signs Crunch Fitness to 30,973-Square-Foot Lease in Metro Washington, D.C.

by Katie Sloan

Hagerstown, Md. — Continental Realty Corp. (CRC) has signed Crunch Fitness to a 30,973-square-foot retail lease in Hagerstown, a suburb of Washington, D.C. The fitness concept will backfill a former Bed Bath & Beyond space at Centre at Hagerstown, a nearly 300,000-square-foot regional shopping center located at 17850 Garland Groh Blvd. The lease brings the occupancy rate of the shopping center to 97 percent. Melissa Sweeney of CRC, along with Matt Copeland and Michael Patz of KLNB Retail, represented the landlord in the lease deal. Ryan Wilner of KLNB Retail …

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The-Center_Atlanta
DevelopmentGeorgiaMixed-useNews

CP Group Rebrands 1.2 Million-Square-Foot CNN Center in Downtown Atlanta to The Center

by Katie Sloan

Atlanta — CP Group has rebranded CNN Center, an iconic 1.2 million-square-foot office and retail building in downtown Atlanta, to The Center. The property has served as the headquarters for CNN for over 40 years and also features a large food court on the ground level that connects to State Farm Arena, home arena of the NBA’s Atlanta Hawks. The site also includes the Omni Atlanta Hotel at Centennial Park. CP Group plans to overhaul the former CNN Center to become a hub of world-class retail, dining, content creation and …

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Durham-Topgolf
DevelopmentNewsNorth Carolina

Topgolf to Open New Venue in Durham, North Carolina

by Katie Sloan

Durham, N.C. — Topgolf plans to open a new venue in south Durham on Friday, April 12. The new Topgolf will represent the third Topgolf in North Carolina, with the other two venues in the Charlotte area. In December, the company also announced a new Topgolf coming to nearby Greensboro, North Carolina. The Durham venue will be located off the Page Road exit on I-40 at 4901 Topgolf Way, a short drive from Research Triangle Park and about 12 miles from Duke University. The new Topgolf will feature 102 climate-controlled hitting …

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Livingston-Avenue-Center
Investment salesNewsOhio

Cooper Group Brokers $5.4 Million Sale of Shopping Center in Metro Columbus

by Katie Sloan

Reynoldsburg, Ohio — The Cooper Commercial Investment Group has brokered the $5.4 million sale of Livingston Avenue Center, a 101,621-square-foot shopping center in the Columbus suburb of Reynoldsburg. The fully leased property is home to tenants such as Save-a-Lot, Big Lots and Urban Air. Dan Cooper of Cooper Group represented the seller, a private investment group out of California. The Midwest-based buyer purchased the asset at a cap rate of 8.19 percent.

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DevelopmentEntertainmentIllinoisNews

Graycor Completes Construction of 45,000-Square-Foot Wonderverse Entertainment Space in Suburban Chicago

by Katie Sloan

Oakbrook, Ill. — Graycor Construction Co. has completed Wonderverse, a 45,000-square-foot entertainment space at Oakbrook Center in suburban Chicago. The project features a hybrid of physical and multi-media experiences, interactive installations, attractions and experiences, allowing visitors to step into their favorite Sony Pictures stories. Sony is the project’s owner. The space includes escape rooms, virtual reality adventures, bumper cars, racing simulators, an arcade and speakeasy. The project team included Scenario as the owner’s representative and EXP as the architect of record.

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52-N-Santa-Cruz-Ave-Los-Gatos-CA
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $4.5 Million Sale of Retail Property in Los Gatos, California

by Katie Sloan

Los Gatos, Calif. — Marcus & Millichap has arranged the $4.5 million sale of a retail property located at 52 N. Santa Cruz Ave. in Los Gatos, just south of San Jose. Built in 1985, the 4,401-square-foot property was fully occupied at the time of sale and offers six commercial spaces. Yuri Sergunin and J.J. Taughinbaugh of Marcus & Millichap’s Palo Alto office represented the undisclosed seller and procured the undisclosed buyer in the deal.

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4000-Union-Pacific-Ave-4040-Noakes-Ave-Commerce-CA
CaliforniaCompany newsNews

Deep-Discount Retailer 99 Cents Only to Close All 371 Store Locations

by Katie Sloan

Commerce, Calif. — 99 Cents Only Stores LLC has announced plans to close all 371 of its stores and wind down business operations. The company has entered into an agreement with Hilco Global to liquidate all merchandise and dispose of fixtures, furnishings and equipment at the stores. Sales under this agreement are expected to begin today. 99 Cents Only was founded in 1982 as a deep-discount retailer where every item cost less than a dollar. The company is headquartered in the southeast Los Angeles suburb of Commerce, and currently operates stores …

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1000-S-Central-Ave-Glendale-CA
CaliforniaFinanceNews

Marcus & Millichap Arranges $11.2 Million Refinancing for Joann-Occupied Building in Glendale, California

by Katie Sloan

Glendale, Calif. — Marcus & Millichap Capital Corp. has secured $11.2 million in refinancing for a single-tenant retail building located at 1000 S. Central Ave. in the Los Angeles suburb of Glendale. Joann, a fabric and crafts retail chain that recently declared bankruptcy, occupies the property. Ron Bayls of Marcus & Millichap Capital Corp. arranged the 10-year loan, which includes a 5.97 percent interest rate with a 30-year amortization and 50 percent loan-to-value ratio.

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DevelopmentGrocery-anchoredNewsSouth Carolina

Reedy River Retail Arranges Land Sale in Upstate South Carolina for Publix-Anchored Retail Center

by Katie Sloan

Mauldin, S.C. — Reedy River Retail at SVN Blackstream has arranged the acquisition of a 10.9-acre development site located at 1116 Ashmore Bridge Road in Mauldin, roughly 10 miles south of Greenville, S.C. The buyer, Atlanta-based Venture South Investments, plans to develop a Publix-anchored shopping center at the site. Dustin Tenney and Daniel Holloway of Reedy River Retail represented the buyer in the $4.6 million transaction. Plans for the site include the development of a 63,000-square-foot retail center anchored by a 45,000-square-foot Publix grocery store, as well as two outparcels. …

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