Retailers

KLNB Negotiates $9.7 Million Partial Sale of Shenandoah Square in Northern Virginia

by Alex Tostado July 17, 2019

Leesburg, Va. — KLNB has negotiated the $9.7 million sale of a portion of Shenandoah Square Shopping Center in Leesburg. The two parcels included in the sale are located at 932 and 952 Edward Ferry Road NE and total 29,480 square feet. Tenants include Sherwin Williams, Cosmo Prof, Jenny Craig, Domino’s and Regional Finance. Shenandoah Square also includes a Walmart, Exxon gas station, Taco Bell, IHOP and 83,240 square feet of office space. The shopping center is situated 37 miles northwest of Washington, D.C. Kevin Goeller, Ryan Goeller, Veronica Kamara, …

July 17, 2019

Company news News Retailers Washington DC

Madison Marquette, Roseview Finalize Merger, Costantini Named CEO

by Alex Tostado July 17, 2019

Washington, D.C. — Madison Marquette, a leading national real estate investment manager, service provider, developer and operator based in Washington, D.C., finalized its merger with The Roseview Group, a boutique institutional real estate investment and advisory company based in Boston. Roseview’s chief executive officer, Vince Costantini, is now serving as CEO of the combined firm. Before launching Roseview, Costantini was president and COO of Boston Financial, an institutional real estate investment adviser. He also spent 10 years at General Investment and Development Co., where he began the transformation of the …

July 17, 2019

Leasing News Ohio Retailers

Six New Retailers Confirmed for $500 Million Easton Town Center Expansion in Ohio

by Alex Tostado July 15, 2019

Columbus, Ohio — Six new retailers have been confirmed as part of the $500 million expansion of Easton Town Center in Columbus. The retailers include Ivan Kane’s Forty Deuce Café & Speakeasy, Arhaus Furniture, Pins Mechanical Co., The Beeline, Forbidden Root Restaurant and Brewery and Crimson Cup Coffee & Tea. At Forty Deuce, the ground floor will include a café serving burgers and desserts while the upstairs will incorporate a hidden speakeasy. The new Arhaus store will span 17,500 square feet. Ohio-based Pins Mechanical has already opened with 30,000 square …

July 15, 2019

Finance Georgia Investment sales News Retailers

Cohen Financial Secures $17.1 Million Acquisition Loan for New Retail Center Near Savannah

by Alex Tostado July 15, 2019

Hinesville, Ga. — Cohen Financial, a division of SunTrust Bank, has arranged a $17.1 million acquisition loan for Oglethorpe Square in Hinesville. Goldman Sachs provided the 10-year loan to an undisclosed borrower. Situated about 40 miles southwest of downtown Savannah, the 158,000-square-foot Oglethorpe Square, which Hutton completed in March 2017, is a fully leased retail center with tenants including Dick’s Sporting Goods, Hobby Lobby, T.J. Maxx and Ulta Beauty. The seller was not disclosed.

July 15, 2019

Investment sales Nevada News Retailers

Newmark Knight Frank Negotiates $6.4 Million Sale of Cornet Plaza Retail Center in Las Vegas

by Alex Tostado July 15, 2019

Las Vegas — Newmark Knight Frank has arranged the sale of Cornet Plaza in Las Vegas. Cornet Plaza LLC sold the asset to C&C Elliot Street LP for $6.4 million. Located at 771 E. Horizon Drive, the shopping center features 26,888 square feet of space. Tenants include Capriotti’s, Papa John’s and Hammers Grill & Bar. Michael Zobrist and Nelson Tressler of Newmark Knight Frank represented the seller in the deal.

July 15, 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

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