Los Angeles — Shapell Liberty Investment Properties has broken ground on The Vineyards at Porter Ranch, a $150 million mixed-use project in Los Angeles’ Porter Ranch neighborhood.
Modesto, Calif. — HFF has arranged the $170 million refinancing of a portfolio of 33 triple-net-leased grocery properties totaling 1.73 million square feet in northern California.
Perry, Ga. — Avison Young has arranged the sale of Perry Marketplace, a 179,973-square-foot shopping center located in Perry, roughly 29 miles outside Macon, Georgia.
Canton, Texas — Dallas-based STRIVE has arranged the sale of Trader’s Square Shopping Center, a 57,920-square-foot shopping center located in Canton, Texas.
Chicago and Naperville, Ill. — Horizon Realty Services has closed two lease transactions for Kilwins Chocolates, Fudge and Ice Cream in metro Chicago.
East Boston and Revere, Mass. — The HYM Investment Group LLC, a mixed-use developer based in Boston, has purchased Suffolk Downs, a 161-acre horse racetrack located in East Boston and Revere.
Boston — WS Development has hired architecture firm OMA to design a mixed-use project located at 88 Seaport Blvd. in Boston.
Oceanside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $7.4 million sale of a single-tenant Walgreens property located roughly 38 miles outside San Diego in Oceanside.
An evolution is taking place in the retail sector today. Big box retailers are no longer en vogue with today’s active and experience-driven consumer, and the growth of e-commerce continues to spark a need for change throughout the retail landscape. Bankruptcies and store closures may be topping the headlines, but the sentiment in the sector remains cautiously optimistic, according to Real Capital Market’s May 2017 Retail Sentiment Report.
San Diego, Calif. — A joint venture between Citivest Commercial Investments LLC and Hutensky Capital Partners has acquired a freestanding AMC theater complex in San Diego for $36 million.