News

CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Regency Centers Purchases Retail Component of Silicon Valley Mixed-Use Project for $212.5 Million

by Alex Tostado

Campbell, Calif. — Regency Centers Corp. has acquired the retail component of The Pruneyard, a 27-acre mixed-use development in Silicon Valley that dates back to 1969. The Jacksonville, Florida-based shopping center owner and developer purchased the property from a joint venture between Ellis Partners and investment funds managed by an affiliate of Fortress Investment Group LLC for $212.5 million. Situated in Campbell near State Route 17, The Pruneyard’s 258,000-square-foot shopping center is anchored by Trader Joe’s. The site was formerly a pear and prune orchard before the Brynteson family sold …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNevadaNewsRetailers

Gindi Capital Acquires Las Vegas Strip Property for $172 Million

by Alex Tostado

Las Vegas — Gindi Capital, a privately held investment company, has acquired a 9.5-acre property on the Las Vegas strip for $172 million from FX Luxury Las Vegas, an affiliate of Spectrum Group Management. The property is located at 3743-3759 Las Vegas Blvd., adjacent to Gindi’s other holdings on the strip, and contains 700 feet of street frontage. Gindi Capital is working with its development and design teams to plan a new flagship retail, entertainment and dining experience inside the building.

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsRetailersSouth Carolina

Big V Acquires 322,428-Square-Foot Shopping Center in North Charleston

by Alex Tostado

North Charleston, S.C. — Big V Property Group has acquired Promenade at Northwoods, a 322,428-square-foot shopping center in North Charleston. Hobby Lobby, Gander Outdoors and Ollie’s Bargain Outlet anchor the center, which was 85 percent leased at the time of sale. Other tenants include Boot Barn, Party City, Crunch Fitness, Moe’s Southwest Grill, Landmark Financial and Once Upon a Child. Promenade at Northwoods is located off Interstate 26, across from Northwoods Mall and 15 miles north of downtown Charleston. The seller and sales price were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsRetailersTexas

Disney Investment Group Arranges Sale of 126,654-Square-Foot Retail Center Near Fort Worth

by Alex Tostado

Southlake, Texas — Dallas-based Disney Investment Group has arranged the sale of Kimball Oaks, a 126,654-square-foot retail center in Southlake, a northern suburb of Fort Worth. The property was 97 percent leased at the time of sale to tenants such as PGA Tour Superstore, Marshalls, Tuesday Morning and Bassett Furniture. Disney represented the seller, locally based investment firm Strode Property Co., in the transaction. A private exchange buyer purchased the property for an undisclosed price.

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNet leaseNewsRetailersTennessee

B+E Brokers $6.8 Million Sale of Academy Sports Net-Leased Property in Western Tennessee

by Alex Tostado

Jackson, Tenn. — B+E has brokered the $6.8 million sale of an Academy Sports + Outdoors net-leased property in downtown Jackson. The buyer, Chimblo Family Real Estate LLC, worked with B+E to complete a 1031 Tax Deferred Exchange via B+E’s online sales platform. The property is located at 193 Stonebrook Place. Academy has 12 years remaining on its lease. The seller was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
IndianaInvestment salesNewsRetailers

Marcus & Millichap Negotiates $5 Million Sale of Retail Property in Elkhart, Indiana

by Alex Tostado

Elkhart, Ind. — Marcus & Millichap has negotiated the sale of Goshen Village Shoppes in Elkhart for $5 million. The 37,135-square-foot retail property is located at 4542 Elkhart Road. Built between 2004 and 2006, the property is 75.2 percent occupied by Little Caesars Pizza, AT&T, Panera Bread, Mattress Warehouse, Great Clips and Starbucks. Jordan Goodman, Jeff Rowlett and Matt Fitzgerald of Marcus & Millichap brokered the transaction. Buyer and seller information was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsRetailersWashington DC

WashREIT Agrees to Sell Eight Retail Assets, Increases Focus on Multifamily Sector

by Alex Tostado

Washington, D.C. — WashREIT (NYSE: WRE) has agreed to sell five of its retail properties for $485 million, plus an additional three power centers, as part of a strategic move to increase its investment in the multifamily sector. The first sale agreement includes five retail properties totaling 800,000 square feet. Those assets include Gateway Overlook in Columbia, Md.; Wheaton Park in Wheaton, Md.; Olney Village Center in Olney, Md.; and Bradlee Shopping Center and Shoppes of Foxchase in Alexandria, Va. First Washington Realty acquired the properties. Daniel Finkle, Stephen Conley, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNewsOklahomaRetailers

Disney Negotiates Sale of 417,515-Square-Foot Retail Power Center in Norman, Oklahoma

by Alex Tostado

Norman, Okla. — Dallas-based Disney Investment Group has negotiated the sale of University Town Center, a 417,515-square-foot retail power center in Norman. The property was 99 percent leased at the time of sale to tenants such as T.J. Maxx, HomeGoods, Academy Sports + Outdoors, Kohl’s and Michael’s. Disney represented the undisclosed seller in the transaction. The buyer was an entity controlled by Rainier Realty Investments, which partnered with CIL2 REIT LLC, managed by Continuum Holdings. Dallas-based Metropolitan Capital Advisors arranged acquisition financing for the deal.

Continue Reading
0 FacebookTwitterLinkedinEmail
FloridaGrocery-anchoredInvestment salesNewsRetailers

Plaza Advisors Arranges Sale of 90,328-Square-Foot Shopping Center in Metro Tampa

by Alex Tostado

Temple Terrace, Fla. — Plaza Advisors has arranged the sale of Temple Terrace Plaza, a 90,328-square-foot shopping center in Temple Terrace. The Winn Dixie-anchored property was 95 percent leased at the time of sale to tenants including the United States Post Office, Greenberg Dental, Sally Beauty, Rainbow, Mariner Finance and Sprint. Temple Terrace Plaza is located at 8837 N. 56th St., nine miles north of downtown Tampa. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller, a REIT, in the transaction. The buyer was an undisclosed private equity …

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaInvestment salesNewsRetailers

Hanley Investments Arranges $7.6 Million Sale of Retail Pad Building in Glendale, Arizona

by Alex Tostado

Glendale, Ariz. — Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant pad building located at 7870 W. Bell Road in Glendale. ECC Bell Road Property LLC sold the asset to a family trust based in Orange County, Calif., for $7.6 million, or $901 per square foot. Tenants at the 8,433-square-foot property include The Habit Burger Grill, Tempur-Pedic, Pearle Vision and Blaze Pizza. The 1.2 million-square-foot Arrowhead Towne Center Mall shadow anchors the asset. Bill Asher and Jeff Lefko of Hanley Investment represented the seller, while …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts