News

Southpace Properties to Develop $11 Million Mixed-Use Building in Birmingham

by Alex Tostado July 12, 2019

Birmingham, Ala. — Southpace Properties will develop Macaroni Lofts, a mixed-use building in Birmingham’s Parkside District that will include 35 residential units and 6,000 square feet of retail space. Birmingham Business Journal reports the project will cost $11 million to complete. Situated at the corner of 4th Avenue and 14 Street, Macaroni Lofts is a redevelopment of the former Birmingham Macaroni Co. warehouse, which was built in 1902. The building’s existing structure will remain intact with the addition of rooftop penthouse units with private terraces. The development team includes Fifth Dimension Architecture, …

July 12, 2019

Illinois Investment sales News Retailers

Matanky Negotiates Sale of 102,647-Square-Foot Shopping Center in Federal Opportunity Zone in Park Forest, Illinois

by Alex Tostado July 12, 2019

Park Forest, Ill. — Matanky Realty Group has negotiated the sale of a 102,647-square-foot shopping center located at 80-138 S. Orchard Drive in Park Forest, south of Chicago. Freedom Development Group purchased the three-building property for an undisclosed price. The Family Dollar-anchored center includes a grocery store and auto repair center. The buyer was attracted to the site due to its location within a federal Opportunity Zone, according to Matanky. Terri Cox and Don Wagener of Matanky brokered the transaction.

July 12, 2019

Investment sales News Oregon Retailers

Hone Investments Sells Walgreens-Occupied Property in Central Oregon for $5.7 Million

by Alex Tostado July 12, 2019

Cottage Grove, Ore. — Hone Investments has completed the disposition of a retail asset located at 1074 E. Main St. in Cottage Grove in Central Oregon. West Plaza LLC bought the property for $5.7 million. Walgreens occupies the 14,820-square-foot retail property with 15 years remaining on its existing long-term lease. Jon Busse and David Kotansky of Colliers International San Diego Region represented the seller, while Jeff Miller of First Commercial Real Estate Services represented the buyer in the deal.

July 12, 2019

Investment sales Michigan News Retailers

Marcus & Millichap Arranges $5.7 Million Sale of Retail Center in Metro Detroit

by Alex Tostado July 12, 2019

Woodhaven, Mich. — Marcus & Millichap has arranged the sale of Woodhaven Village Square for $5.7 million. The 50,414-square-foot retail center is located in Woodhaven, a southern suburb of Detroit. The property is fully leased to Michaels, PetSmart, Cato and Dance Nation. Ashish Vakhariya and Seth Haron of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The buyer was not disclosed.

July 12, 2019

California Company news News Retailers

URW to Launch Three New Solar Projects in the U.S.

by Alex Tostado July 10, 2019

Los Angeles — Unibail-Rodamco-Westfield (URW), a premier global developer and operator of flagship shopping destinations, has revealed details of its global Corporate Social Responsibility (CSR) program — the most ambitious of its kind for a listed retail real estate company. Called “Better Places 2030,” the CSR program will now formally extend to the United States and the United Kingdom, which were a part of the acquisition of Westfield by Unibail-Rodamco last year. Broadly, the program commits URW to reduce its total carbon footprint 50 percent by the year 2030 across every …

July 10, 2019

Features New York Retailers SCBlog

Reis: National Retail Vacancy Experiences First Drop Since 2016

by Alex Tostado July 9, 2019

New York City — The national retail vacancy rate fell 10 basis points to 10.1 percent in the second quarter, according to New York City-based commercial real estate data firm Reis. This is the first time in which vacancy has declined since the first quarter of 2016. For context, in the second quarter of 2018, the rate had risen 20 basis points to 10.2 percent and remained flat at that rate through the first quarter of this year. The tightening of available space is in contrast to the larger talking …

July 9, 2019

Finance Florida Malls News Retailers

Bal Harbour Shops To Expand by 300,000 Square Feet

by Alex Tostado July 9, 2019

Miami Beach, Fla. — Whitman Family Development is planning a 300,000-square-foot expansion of Bal Harbour Shops, including a new Barneys New York location and three-story promenade. The company has received $550 million in financing to expand the iconic center in Miami Beach. The 463,114-square-foot mall is home to anchors Saks Fifth Avenue and Neiman Marcus. Miami-based Whitman Family Development will use $150 million of the loan to pay off an existing loan and $400 million to expand the center by 300,000 square feet, bringing the total to 763,114 square feet. …

July 9, 2019

Development Malls News Texas

Fidelis Begins 1.1 Million-Square-Foot Redevelopment of San Jacinto Mall in Metro Houston

by Alex Tostado July 9, 2019

Baytown, Texas — Fidelis Realty Partners has begun the redevelopment of the San Jacinto Mall, a 1.1 million-square-foot shopping and dining center that opened in 1981. Fidelis, which acquired the mall in 2015 from Triyar Retail Group, is demolishing one of the anchor stores that was previously occupied by Sears as part of the initial phase of the redevelopment. According to local media sources, Fidelis will ultimately reposition the mall into a 1 million-square-foot, open-air center that will be branded San Jacinto Marketplace.

July 9, 2019

Investment sales News Retailers Texas

Baceline Purchases Two DFW Retail Centers Totaling 109,145 Square Feet

by Alex Tostado July 9, 2019

Dallas and Arlington, Texas — Denver-based investment and management firm Baceline Investments has purchased two retail centers totaling 109,145 square feet in Dallas and Arlington. The properties include Cooper Street Marketplace, a 75,974-square-foot, multi-tenant shopping center in Arlington; and Tarrant Parkway, a 33,171-square-foot property in Dallas. The assets were acquired in conjunction with a 71,602-square-foot center in Indianapolis. The seller was not disclosed. Baceline now owns more than 2 million square feet of retail space across 15 states, a portfolio that has an occupancy rate of 91 percent.

July 9, 2019

Illinois Investment sales News Retailers

Marcus & Millichap Arranges $5.8 Million Sale of Retail Center in Willowbrook, Illinois

by Alex Tostado July 9, 2019

Willowbrook, Ill. — Marcus & Millichap has brokered the $5.8 million sale of Willow Commons in Willowbrook, about 25 miles southwest of Chicago. The 58,497-square-foot retail center is situated on 75th Street. At the time of sale, the property was 98 percent leased to a mix of tenants, a majority of which have occupied space at the shopping center for more than 15 years. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller and represented the buyer.

July 9, 2019

Newer Posts

Older Posts