News

Levcor to Redevelop 503,000-Square-Foot Post Oak Plaza in Uptown Houston

by Julia Sanders July 19, 2021

Houston — Levcor will redevelop Post Oak Plaza, a 503,000-square-foot shopping and dining destination in Houston’s Uptown neighborhood. Architecture firm BRR is leading the design of the project, which will be carried out in phases throughout 2022. The development team will upgrade storefronts to allow more natural light, introduce communal outdoor gathering spaces, widen pathways that connect buildings and install new landscaping features. Businesses will remain open throughout the redevelopment project. Current tenants at Post Oak Plaza include Bill Walker Clothier, Eye Elegance, FedEx, Home Source, Madison Lily, Pinto Ranch, …

July 19, 2021

Indiana Investment sales News

Hanley Investment Group Arranges Sale of 114,867-Square-Foot Center in Michigan City, Indiana

by Julia Sanders July 19, 2021

Michigan City, Ind. — Hanley Investment Group has arranged the sale of Lake Park Plaza, a 114,867-square-foot, Hobby Lobby-anchored shopping center in Michigan City. The sales price was not disclosed, but the property was listed for $6.3 million. Eric Wohl and CJ Kiehler of Hanley Investment Group, in association with ParaSell Inc., represented the seller, RCG Ventures. The buyer was a private investment company based near Miami. Lake Park Plaza is located less than 60 miles from Chicago and is situated on 20.8 acres at 4303-4361 Franklin St. in Indiana’s …

July 19, 2021

Indiana Investment sales News

Slate Grocery REIT Acquires Indianapolis Shopping Center for $8.5 Million

by Julia Sanders July 19, 2021

Indianapolis — Slate Grocery REIT has acquired Glenlake Plaza in Indianapolis for $8.5 million. Concurrent with the acquisition, the REIT has secured a new long-term lease with the property’s anchor tenant, Kroger, for 15 years. The shopping center spans 104,679 square feet of gross leasable area and features an occupancy rate of 85 percent. An owner and operator of grocery-anchored real estate, Slate Grocery REIT’s portfolio comprises $1.4 billion of assets across major U.S. markets. The company trades on the Toronto Stock Exchange.

July 19, 2021

Investment sales News Ohio

Marcus & Millichap Brokers $4.6 Million Sale of Dayton-Area Retail Portfolio

by Julia Sanders July 19, 2021

Huber Heights and Vandalia, Ohio — Marcus & Millichap has brokered the sale of a Dayton-area retail portfolio occupied by Wendy’s for $4.6 million. The two properties in the portfolio are located in Huber Heights and Vandalia. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap marketed the portfolio on behalf of the seller, a private investor. Buyer information was not disclosed.

July 19, 2021

News Washington DC

NRF: June Retail Sales Increase Following a Dip in May

by Julia Sanders July 19, 2021

Washington, D.C. — The National Retail Federation (NRF) reports a growth in retail sales during the month of June, confirming the organization’s revised predictions made at the beginning of July. NRF revised its retail sales forecast for 2021 retail sales to increase between 10.5 to 13.5 percent over 2020 to a range of $4.44 trillion and $4.56 trillion. The U.S. Census Bureau reports that retail sales have increased year-over-year every month since June 2020, including May, which had a decline of 1.7 percent month-over-month and a growth of 27.6 percent …

July 19, 2021

Development Georgia News

North American Properties Completes Redevelopment of Colony Square in Midtown Atlanta

by Julia Sanders July 16, 2021

Atlanta — North American Properties has completed the redevelopment of Colony Square, a mixed-use project located at the intersection of 14th and Peachtree streets in the Midtown neighborhood Atlanta. The project included renovations on two existing buildings totaling 200,000 square feet, and the ground-up development of a movie theatre and Politan Row food hall, as well as two new Class A office buildings with street-level retail. General contractor Hoar broke ground on Phase I of the multi-phase project in October 2017. In total, Colony Square offers 940,000 square feet of …

July 16, 2021

Florida Investment sales News

SRS Arranges Sales of Two Crunch Fitness-Occupied Properties Totaling $12 Million in Florida

by Julia Sanders July 16, 2021

Lakeland and Melbourne, Fla. — SRS Real Estate Partners has arranged the sale of two Crunch Fitness-occupied properties located in the central Florida cities of Lakeland and Melbourne. Matthew Mousavi, Patrick Luther and Patrick Nutt of SRS represented the seller, a Florida-based development firm, in the disposition of both properties to two separate buyers. Mousavi and Luther also represented the undisclosed buyers in the transactions, both of which are California-based private investors. The 18,000-square-foot Lakeland property is located at 5218 Florida Ave. S and sold for $5.9 million. Located at …

July 16, 2021

Connecticut Investment sales News

New England Retail Properties Brokers $6.7 Million Sale of Shoppes at Old Saybrook in Connecticut

by Julia Sanders July 16, 2021

Old Saybrook, Conn. — New England Retail Properties has brokered the $6.7 million sale of The Shoppes at Old Saybrook. The 94,175-square-foot regional shopping center sits on 8.5 acres and is located in the southern coastal part of the state. Tenants include Ocean State Job Lot, Town Fair Tire, Dollar Tree, O’Reilly Auto Parts and Midas Muffler. Matt Halprin of New England Retail Properties represented the seller, Basser Kaufman Saybrook LLC, in the transaction. Halprin also procured the buyer, OSJL of Old Saybrook LLC.

July 16, 2021

Investment sales News Texas

KM Realty Acquires Newly Constructed Shopping Center in San Antonio

by Julia Sanders July 16, 2021

San Antonio, Texas — KM Realty Investment Trust Inc. has acquired City Base Commons, a 7.5-acre shopping center comprised of five buildings with two pad sites south of downtown San Antonio. GFR Development sold the property, which is located on SE Military Drive. The sales price was not disclosed. The center is 94.8 percent leased to tenants including Credit Human, Kung Fu Tea, LA Crawfish, Jimmy John’s, McAllister’s Deli, Raising Cane’s and Smoothie King. Both pad sites are available for lease.

July 16, 2021

California Faris Lee Investments Investment sales News

Faris Lee Arranges $6.1 Million Sale of Retail Strip, Completes Break-Up Strategy for ALDI-Anchored Center in Metro San Diego

by Julia Sanders July 16, 2021

Escondido, Calif. — Faris Lee Investments has arranged the $6.1 million sale of the Shops at Trafalgar Square, a fully occupied, 14,164-square-foot strip center located 30 miles outside San Diego in Escondido. This sale completes the break-up of a larger ALDI-anchored center with an IHOP pad building. Matt Brooks and Joe Chichester of Faris Lee created and executed the break-up strategy for the center’s undisclosed initial owner. The buyer in the transaction was undisclosed.

July 16, 2021

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