News

Hanley Brokers $4.9 Million Sale of Retail Building in Riverside, California

by Hayden Spiess June 12, 2023

Riverside, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.9 million sale of a four-tenant retail property located in Riverside. Built In 2020 and situated within Veteran’s Plaza, the 6,963-square-foot building is occupied by Starbucks Coffee, Express Gadget Repair, Desperate Measures and Jersey Mike’s Subs on a net-lease basis. Eric Wohl and CJ Kiehler of Hanley represented the seller, a California-based developer. Shirley Kim of Max Mega Group Realty represented the buyer, an international private investor.

June 12, 2023

Arizona Development Finance Grocery-anchored News

Gantry Arranges $53.4 Million Refinancing for Retail Center in Phoenix Suburb

by Katie Sloan June 9, 2023

Surprise, Ariz. — Gantry has arranged a $53.4 million permanent loan for the refinancing of the The Village at Prasada, a 700,000-square-foot multi-phase retail center project in the Phoenix suburb of Surprise. The 7.5-year, fixed-rate loan will retire the construction debt for the first phase of the development, which comprises 308,640 square feet. Phase One was fully leased at the time of financing to tenants including Sprouts Farmers Market, Ross Dress for Less, HomeGoods, Marshalls, Ulta Beauty, Total Wine & More, PetSmart, T.J. Maxx and Floor & Décor. Tim Storey, …

June 9, 2023

California Development Finance Mixed-use News

Citivas Provides Construction Financing for 25,000-Square-Foot Mixed-Use Project in Santa Monica, California

by Katie Sloan June 9, 2023

Santa Monica, Calif. — Citivas Capital Group has provided a senior construction loan for the development of a mixed-use project at Third Street Promenade in Santa Monica. Upon completion, the space, which will include retail and office space, will feature floor-to-ceiling windows and a 4,000-square-foot outdoor roof terrace. Blatteis & Schnur was the borrower. Jorge Adler of Citivas arranged the financing.

June 9, 2023

Investment sales Leasing News Ohio

Dowd Cos. Brokers Sale-Leaseback of Two Children of America Schools in Ohio for $6.9 Million

by Katie Sloan June 9, 2023

Columbus and Maineville, Ohio — The Dowd Cos. has arranged the sale-leaseback of two Children of America schools in Ohio for $6.9 million. The properties total 21,949 square feet. John Dowd and Theresa Johnson of Dowd Cos. represented Children of America in the 1031, all-cash transaction. Children of America maintains more than 65 locations in 15 states with 13 new properties under development.

June 9, 2023

Leasing Minnesota News Restaurants

Three Restaurants Totaling 9,056 Square Feet to Open at Eden Prairie Center in Metro Minneapolis

by Katie Sloan June 9, 2023

Eden Prairie, Minn. — Three new restaurant concepts will open at Eden Prairie Center, a 1.4 million-square-foot retail center located in the southwest Minneapolis suburb of Eden Prairie. Gyu Mai Japanese BBQ and Ichiddo Ramen will open within a dual-concept space comprising 7,996 square feet, with both concepts scheduled to open in December of this year. Starting in July, Where’s The Flour?, a gluten-free fast-casual restaurant, will lease 808 square feet within the development’s food court. Additionally, Café Viola will open a coffee kiosk and occupy 252 square feet, beginning …

June 9, 2023

California Leasing News

NAI Arranges Three Total by Verizon Leases Totaling 6,049 Square Feet in Metro Los Angeles

by Katie Sloan June 9, 2023

Inglewood, Calif. and Los Angeles — NAI Capital Commercial has arranged three Total by Verizon leases totaling 6,049 square feet. Tina LaMonica and Patrick Ortiz of NAI represented the landlords in the leasing negotiations. In Los Angeles, Total by Verizon will open a 2,234-square-foot store within a space formerly occupied by AT&T and a 2,000-square-foot store at Martin Luther King Jr. Shopping Center. Additionally, the tenant will occupy a 1,815-square-foot space in Inglewood, roughly 12 miles outside Los Angeles.

June 9, 2023

Florida Investment sales News

JRW Realty Arranges $9.9 Million Sale of Daybreak Market and Fuel in Pace, Florida

by Hayden Spiess June 7, 2023

Pace, Fla. — JRW Realty has arranged the $9.9 million sale of a Daybreak Market and Fuel located in Pace. The property totals 8,643 square feet. Leanna Tatikian of JRW represented the undisclosed buyer in the transaction. Justin Zahn of Commercial Investment Advisors represented the undisclosed seller in affiliation with Bang Realty-Naples Inc.

June 7, 2023

Georgia Investment sales News

Dowd Cos. Arranges $16.3 Million Sale of Horizon Village Shopping Center in Metro Atlanta

by Hayden Spiess June 7, 2023

Suwanee, Ga. — The Dowd Cos. has arranged the $16.3 million sale of Horizon Village Shopping Center, a 97,000-square-foot shopping center located in Suwanee, approximately 33 miles northeast of Atlanta. Movie Tavern and YouFit Health Clubs anchor the property, which was built in 1996, according to LoopNet Inc. John Dowd and Theresa Johnson of The Dowd Cos. represented the undisclosed seller in the transaction.

June 7, 2023

Grocery-anchored Investment sales News North Carolina

Legacy Brokers $8.3 Million Sale of Retail Center in Hillsborough, North Carolina

by Hayden Spiess June 7, 2023

Hillsborough, N.C. — Legacy Realty Group Advisors has brokered the $8.3 million sale of Churton Grove Center, a 64,136-square-foot retail center located in Hillsborough, roughly 15 miles northwest of Durham. Food Lion anchors the property. Jacob Baruch and Jonah Warshaw of Legacy arranged the transaction with Will Choate of New South Properties and Arthur Whedon of Investment Properties of the Carolinas.

June 7, 2023

Development News Texas

Vista Cos. Breaks Ground on 8,400-Square-Foot Retail Project in Sugar Land, Texas

by Hayden Spiess June 7, 2023

Sugar Land, Texas — Vista Cos. has broken ground on Vista Sugar Land III, an 8,400-square-foot retail project that will be located on the city’s southwestern outskirts. The center is 83 percent pre-leased. United Constructors is the general contractor for the project, which is scheduled for completion in the fourth quarter of this year. Stellar Bank provided construction financing.

June 7, 2023

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