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Retail center
FloridaInvestment salesNews

Limestone, Orion Sell Tampa Bay Retail, Office Center for $5.3 Million

by Julia Sanders

St. Petersburg, Fla. — Limestone Asset Management, via a joint venture with its parent company Orion Real Estate Group, has sold a 23,031-square-foot retail and office center in the Tampa Bay area for $5.3 million. Located at 1914 4th St. N in St. Petersburg, the property was 100 percent leased at the time of sale to six tenants, including Outback Steakhouse and Panera Bread. Ben Mallah of Equity Management Partners Inc. purchased the property in a 1031 exchange. Mark Shellabarger and Ari Ravi of CBRE represented Limestone and Orion, both …

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Pecos Square
ColoradoInvestment salesNews

Marcus & Millichap Arranges $5.1 Million Sale of Pecos Square Retail Property in Denver

by Julia Sanders

Denver — Marcus & Millichap has arranged the sale of Pecos Square, a multi-tenant retail property located at 1777 and 1717 W. 38th Ave. in Denver. A private investor acquired the property from a private partnership for $5.1 million. Built in 1988, Pecos Square features 10,729 square feet of retail space and was 100 percent occupied at the time of sale. The property consists of 81 percent corporate leases with an average occupancy of 18 years. The asset also features a standalone Burger King restaurant. Drew Isaac and Ryan Bowlby …

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FloridaLeasingNews

Two Retail Tenants Open at Westshore Marina District in Tampa

by Julia Sanders

Tampa, Fla. — Two new retail tenants have opened at Westshore Marina District in Tampa. The construction of the retail portion of the 52-acre mixed-use development is currently being completed. The two new tenants are Cru Cellars and Sand Surf Co. Cru Cellars, which signed a lease in August 2019, and Sand Surf Co., which signed a lease in September 2019, are the first of several retailers that will open their doors at Marina Landings, Westshore Marina District’s 70,000-square-foot town center. Fort Lauderdale-based BTI Partners is the developer of Westshore …

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Cofer Crossing
GeorgiaGrocery-anchoredInvestment salesNews

JLL Arranges $20 Million Sale of Kroger-Anchored Shopping Center in Metro Atlanta

by Julia Sanders

Tucker, GA. — JLL Capital Markets has arranged the $20 million sale of Cofer Crossing, a 136,139-square-foot shopping center located 20 miles outside Atlanta in Tucker. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the seller, a partnership between SITE Centers Corp. and Madison International Realty. A private buyer based in Ontario, California, acquired the asset in a 1031 exchange and was represented by Hanley Investment Group’s Ed Hanley and Kevin Fryman, along with ParaSell Inc. Kroger and HomeGoods anchor the fully leased center.

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Shops at Surfside Center
FloridaInvestment salesNews

SRS Brokers $7 Million Sale of Shops at Surfside Center in Cape Coral, Florida

by Julia Sanders

Cape Coral, Fla. — SRS’ Investment Properties Group has brokered the sale of Shops at Surfside Center, a five-tenant retail center located in Cape Coral. The 117,566-square-foot center is fully occupied by tenants including Belk, Anytime Fitness, SalonPlex and Humana. The seller, a private service entity, sold the property for $7 million to Patagonian Holdings LLC. Kevin Yaryan, Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. The buyer was self-represented.

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Center of Bonita Springs
FloridaGrocery-anchoredInvestment salesNews

Cushman & Wakefield Arranges Sale of Publix-Anchored Shopping Center in Bonita Springs, Florida

by Julia Sanders

Bonita Springs, Fla. — Cushman & Wakefield has arranged the sale of the Center of Bonita Springs, a 281,394-square-foot shopping center located in Bonita Springs. Adam Feinstein, Mitchell Halpern and Mark Gilbert of Cushman & Wakefield represented the undisclosed sellers in the transaction. Publix anchors the center, which is 90 percent leased to tenants including Beall’s Outlet/Home Centric, Old Time Pottery, Naples Community Hospital and Crunch Fitness. The buyer and terms of the transaction were undisclosed.

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Midtown Exchange
DevelopmentFinanceNewsNorth Carolina

Avison Young Secures $40 Million Financing for Midtown Exchange Project in Raleigh

by Julia Sanders

Raleigh, N.C. — Avison Young has secured a $40 million senior loan to fund the pre-development activities and horizontal infrastructure construction for Midtown Exchange, a $1 billion mixed-use development underway in Raleigh. The developer of Midtown Exchange, Dewitt Carolinas, received the funding for the 353,000-square-foot office tower. Wes Boatwright, Mike Yavinsky and Jon Goldstein of Avison Young led the financing transaction through an undisclosed lender. At full buildout, Midtown Exchange will include 790,000 square feet of Class A office space, 1,275 residential units, 300 seniors housing units, 300 hotel rooms, …

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Harris Portfolio
Investment salesNewsOklahoma

Stan Johnson Co. Brokers Sale of 12 Single-Tenant Retail Properties for $28.5 Million

by Julia Sanders

Tulsa, Ok. — Stan Johnson Co. has brokered the sale of a 12-property portfolio of single-tenant retail buildings located across 10 states. The properties are occupied by tenants including Advance Auto Parts and PetSmart, alongside other auto part, eye care and pet supply retailers. The 187,884-square-foot portfolio was acquired by a joint venture between affiliates of MCB Real Estate and Blue Vista Capital Management for $28.5 million. Zach Harris, Jeff Hughes and Melissa McKenzie of Stan Johnson Co. represented the seller, a Midwest-based private family office.

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Signal Hill
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Arranges $28.3 Million Break-Up Strategy of Signal Hill Gateway Retail Center Near Long Beach

by Julia Sanders

Signal Hill, Calif. — Faris Lee Investments has completed the break-up strategy of Signal Hill Gateway, a retail property in Long Beach, to four different buyers for a total of $28.3 million. Prior to listing, the urban infill property was divided into four product categories, including big box parcels, quick-service restaurant and daily needs strip, a sit-down restaurant and a drive-thru fast-food restaurant. Scott DeYoung and Jeff Conover of Faris Lee Investments represented the seller in the deal, Signal Hill Petroleum. The company will retain ownership of a one-acre parcel …

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Concourse Plaza
LeasingNew YorkNews

Extreme Department Store to Open 15,003-Square-Foot Store Near Yankee Stadium in New York City

by Julia Sanders

New York City — Extreme Department Store has signed a 10-year lease for 15,003 square feet at Concourse Plaza in the New York City borough of the Bronx. Concourse Plaza spans 311,650-square feet and is located four blocks from Yankee Stadium. Extreme Department Store will be situated on the ground floor next to Hibachi Grill & Supreme Buffett restaurant and Victoria Nail. Randall Briskin represented the center’s owner, The Feil Organization, and Gabriel Saff of Retail Zone represented the tenant in the transaction.

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