News

Marcus & Millichap Negotiates Sale of 62,506-Square-Foot Shopping Center in Peckville, Pennsylvania

by Alex Tostado June 6, 2019

Peckville, Pa. — Marcus & Millichap has brokered the sale of Peckville Shopping Center, a 62,506-square-foot retail property, located just outside Scranton in northern Pennsylvania. The sales price was $5.1 million. A 20,045-square-foot Planet Fitness anchors the center, which was built in 1953 and renovated in 2004. Total occupancy at the property at the time of sale was 76 percent. Christopher Burnham, Dean Zang, David Crotts and Steven Siegel of Marcus & Millichap represented the seller, a New York City-based investment bank, in the transaction. The group also procured the …

June 6, 2019

Investment sales News Retailers Texas

HSM Negotiates Sale of 62,000-Square-Foot Retail Property in Metro Dallas

by Alex Tostado June 6, 2019

Allen, Texas — Henry S. Miller Brokerage (HSM) has negotiated the sale of a 62,000-square-foot retail property in the northeastern Dallas suburb of Allen. The sale included a 4.5-acre parking lot. Frank Bullock and Martin Gaines of HSM represented the seller, Denver-based Jumpstreet Trampoline Parks, which will lease back 40,000 square feet, in the transaction. Home décor retailer LoneStar Mercantile will occupy the remaining 22,000 square feet. Moon Kim of Lifestyles Realty represented the buyer, a Houston-based investment firm.

June 6, 2019

Investment sales New York News Retailers

Cushman & Wakefield Arranges $3.2 Million Sale of Retail Property in The Bronx

by Alex Tostado June 6, 2019

New York City — Cushman & Wakefield has arranged the $3.2 million sale of an 8,874-square-foot retail property located at 2542-2550 Boston Road in The Bronx. The sales price for the two-building property equates to $361 per square foot. Cushman & Wakefield’s Jonathan Squires, Eric Roth and Addison Berniker represented the seller, 2550 Boston Post Road Corp., in the transaction. The undisclosed buyer will have the option to expand the property to add more shop space.

June 6, 2019

California Investment sales News Retailers

Sansome Pacific Acquires 11 Cabela’s Stores for $324.3 Million

by Alex Tostado June 5, 2019

San Francisco — A joint venture led by Sansome Pacific, a real estate investment firm based in San Francisco, has acquired 11 locations of outdoor sports retailer Cabela’s for $324.3 million. The transaction was structured as a sale-leaseback with the seller, Bass Pro Shops, which owns the Cabela’s brand. Much like Bass Pro Shops, Cabela’s is known for its sprawling retail campuses. The 11-property portfolio spans 1.6 million square feet on 227 acres of land. Bass Pro Shops is based in Springfield, Missouri, while Cabela’s is based in Sidney, Nebraska. …

June 5, 2019

Investment sales Massachusetts Net lease News Retailers Texas

Hospitality Properties Trust Buys National Net-Lease Retail Portfolio for $2.4 Billion

by Alex Tostado June 5, 2019

Newton, Mass. And Dallas — Hospitality Properties Trust (NASDAQ: HPT) has purchased a portfolio of net-leased retail assets from Spirit MTA REIT for $2.4 billion. The portfolio consists of 774 service-oriented retail properties in 43 states that are occupied by tenants including AMC Theatres, Academy Sports + Outdoors and CarMax. The portfolio was 98 percent occupied as of March 31 and has a weighted average remaining lease term of 8.6 years. The portfolio includes all of SMTA’s owned properties held in its “Master Trust 2014” segment and excludes approximately 100 …

June 5, 2019

Investment sales Maryland News Retailers

New Market Properties Acquires Shopping Center in Suburban Maryland for $72 Million

by Alex Tostado June 5, 2019

Bowie, Md. — New Market Properties LLC has acquired Free State Shopping Center, a 264,000-square-foot retail center in Bowie, for $72 million. The Giant Food-anchored center is situated 19 miles east of downtown Washington, D.C. Tenants include Ross Dress for Less, Tuesday Morning, Starbucks Coffee, T.J. Maxx, Office Depot and Sakura Japanese Steakhouse. Federal Investment Realty Trust sold the property.

June 5, 2019

Arizona Investment sales News Retailers

SRS Negotiates $13.8 Million Sale of El Super Shopping Center in Phoenix

by Alex Tostado June 5, 2019

Phoenix — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of El Super Shopping Center, a retail property located at 2211 W. Camelback Road in Phoenix. Phoenix-based De Rito Partners and Van Tuyl Group sold the property to a West Coast-based private investor for $13.8 million. Built in 2017 and situated on 6.4 acres, the asset features 59,400 square feet of retail space. At the time of sale, the property was fully occupied by 11 tenants, including El Super and Subway. Patrick Luther and Ed Beeh of …

June 5, 2019

Investment sales New York News Retailers

Marcus & Millichap Arranges $13 Million Sale of Retail Property in Queens

by Alex Tostado June 5, 2019

Rego Park, N.Y. — Marcus & Millichap has arranged the $13 million sale of a 9,000-square-foot retail building located along Queens Boulevard in Rego Park. The building houses four tenants: Chic’s Place, Paris Baguette, Dunkin’ Donuts, Rouge Nail. Michael Kook of Marcus & Millichap represented the seller and the buyer, both of which requested anonymity, in the transaction.

June 5, 2019

Indiana Investment sales News Retailers

NKF Brokers Sale of 676,322-Square-Foot Regional Mall in Terre Haute, Indiana

by Alex Tostado June 4, 2019

Terre Haute, Ind. — Newmark Knight Frank (NKF) has brokered the sale of Honey Creek Mall in Terre Haute for an undisclosed price. JC Penney and Vendor’s Village anchor the 676,322-square-foot regional mall. Additional retailers include American Eagle, Bath & Body Works, Hollister, Shoe Dept. Encore and Ulta Beauty. Located near Interstate 70, the property is the only enclosed regional mall within a 50-mile radius. Thomas Dobrowski of NKF represented the seller, CBL Properties. The property sold for $14.6 million to Out of the Box Ventures, according to the Tribune-Star newspaper.

June 4, 2019

Finance New Jersey News Retailers

JLL Arranges $46.5 Million in Refinancing for Retail Power Center in Howell, New Jersey

by Alex Tostado June 4, 2019

Howell, N.J. — JLL has arranged a $46.5 million loan for the refinancing of Greenleaf at Howell, a 290,000-square-foot power center in Howell, 30 miles east of Trenton. Aaron Appel, Jonathan Schwartz, Keith Kurland, Brett Rosenberg, Adam Schwartz and Brandon Krupetsky of JLL placed the debt through JPMorgan Chase on behalf of the borrower, Sun Equity Partners LLC. A B.J.’s Wholesale Club anchors the property, which is located at the intersection of U.S. Route 9 North and Lanes Mill Road. Approximately 87,000 people live within a three-mile radius of the …

June 4, 2019

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