Oceanside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $7.4 million sale of a single-tenant Walgreens property located roughly 38 miles outside San Diego in Oceanside.
An evolution is taking place in the retail sector today. Big box retailers are no longer en vogue with today’s active and experience-driven consumer, and the growth of e-commerce continues to spark a need for change throughout the retail landscape. Bankruptcies and store closures may be topping the headlines, but the sentiment in the sector remains cautiously optimistic, according to Real Capital Market’s May 2017 Retail Sentiment Report.
San Diego, Calif. — A joint venture between Citivest Commercial Investments LLC and Hutensky Capital Partners has acquired a freestanding AMC theater complex in San Diego for $36 million.
Eatontown, N.J. — Paramount Realty is set to break ground on Freedom Pointe, a mixed-use development located within the larger redevelopment of Fort Monmouth, a former Army Base in New Jersey.
Northridge, Calif. — Investment Real Estate Associates (IREA) has arranged the $54.7 million sale of the Northridge Plaza Shopping Center, located roughly 30 miles outside Los Angeles in Northridge.
Katy, Texas — Vista Equities Group has broken ground on the final phase of development of LaCenterra at Cinco Ranch, a 34-acre, mixed-use development in Katy.
Associated Bank Provides $25 Million Refinance Loan for Mariano’s-Occupied Building in Metro Chicago
Orland Park, Ill. — Associated Bank has provided a $25 million loan for the refinancing of a 73,180-square-foot retail building occupied by Mariano’s Fresh Market in Orland Park, a suburb of Chicago.
New York City — Urban Edge Properties (NYSE: UE) has purchased a seven-property retail portfolio primarily within the New York City metro area and Missouri for $325 million. The portfolio contains a total of 1.5 million square feet.
Chula Vista, Calif. — Sudberry Properties is set to break ground on Millenia Commons, a 131,800-square-foot shopping center located roughly eight miles outside San Diego in Chula Vista.
Las Vegas — In the midst of a particularly tumultuous period for the retail sector, evidenced by waves of store closures, what advice do seasoned shopping center executives have for aspiring young professionals seeking to make their mark in this business?