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Investment salesMarylandNewsRetailers

Continental Realty Acquires Shopping Center in Metro Baltimore for $16.2 Million

by Alex Tostado

Glen Burnie, Md. — Continental Realty Corp. has acquired Governors Commons, a 129,242-square-foot shopping center in Glen Burnie, for $16.2 million. Governors Commons was fully leased at the time of sale to tenants including Gavigan’s Furniture, Pep Boys, Sake Japanese Steakhouse, Goodwill Industries and Dollar Tree. The property is located at 7311 Ritchie Highway, nine miles south of downtown Baltimore. Mathew Adler, Geoffrey Millerd and Chris Huesgen of Newmark Knight Frank (NKF) arranged the transaction. The seller was not disclosed. Joe Donato of NKF arranged acquisition financing.

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CaliforniaInvestment salesNewsRetailers

Capital Rivers Commercial Arranges $11.2 Million Sale of Oakmont Plaza Retail Center in San Francisco Bay Area

by Alex Tostado

Fairfield, Calif. — Capital Rivers Commercial has arranged the sale of Oakmont Plaza, a 105,000-square-foot shopping center in the San Francisco Bay Area community of Fairfield. San Diego-based The Niki Group acquired the property from a Fairfield-based private investor for $11.2 million. FoodMaxx anchors the retail center, which includes a freestanding Chase Bank and O’Reilly Auto Parts in addition to 35,000 square feet of in-line space. Additional tenants include Mountain Mikes Pizza and Check to Cash. Greg Aguirre and Frank Kozlowski of Capital Rivers Commercial represented the seller, while Brandon …

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CaliforniaInvestment salesNewsRetailers

Avison Young Negotiates $6.5 Million Sale of Single-Tenant Bank Location in Suburban Los Angeles

by Alex Tostado

Cerritos, Calif. — Avison Young has arranged the sale of a retail property located at 11355 South St. in the Los Angeles suburb of Cerritos. A private investor from Southern California sold the property for $6.5 million. Built in 1974, the 5,225-square-foot property features 1,200 square feet of mezzanine space. Comerica Bank occupies the building on an absolute triple-net lease. Brian Hennessey and Armand Aghadjanians of Avison Young represented the seller, while Brian Russell of Kinnery’s Brokerage and The Primemark Group represented the buyer, a Southern California-based private investor, in …

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DevelopmentNewsRetailersTexas

Trademark Property To Develop Master Plan For Houston’s Memorial City Mall

by Alex Tostado

Houston — MetroNational has chosen Ft. Worth, Texas-based Trademark Property Co. to create a master plan for Memorial City Mall in west Houston. Memorial City Mall is a 1.7 million-square-foot shopping mall that is situated within the 265-acre Memorial City campus. Trademark is tasked with creating a plan that will transform the mall into an integrated center of the campus. Renovations will include redeveloping the south side of the mall, where Sears recently vacated; adding more restaurant, retail and dining space; and adding public gathering spaces and increased walkability. Houston-based …

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CaliforniaInvestment salesNewsRetailers

Progressive Real Estate Partners Arranges $11 Million Sale of Retail Center in Inland Empire

by Alex Tostado

Corona, Calif. — Progressive Real Estate Partners has arranged the $11 million sale of Corona Freeway Center in Corona, California. The 67,690-square-foot retail center was built in 1991 and was recently renovated, including a new roof, new HVAC, updated landscaping, painting and major renovations to the parking lot; the addition of a 60-foot high digital freeway pylon sign; and a 400-square-foot digital screen. Tenants include Express Scripts, Jenson USA Bicycles and LA Carpet & Flooring. Frank Vora of Progressive Real Estate Partners represented the seller, an Orange County, California-based private …

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Investment salesNewsRetailersVirginia

Bogese Sells Shopping Center in Richmond, Virginia for $5.7 Million

by Alex Tostado

Richmond, Va. — Bogese Cos. has sold The Shoppes at Belvedere, a 22,577-square-foot shopping center in Richmond, for $5.7 million. The shopping center was 90 percent leased to nine tenants at the time of the sale, including Firebirds Wood Fire Grill, Stavna Dance Academy and Wilson Lee Interiors. Klein Enterprises acquired the property, which was built in 2008. Catharine Spangler, Calvin Griffith, Pete Waldbauer and Nicki Jassy of Cushman & Wakefield | Thalhimer represented the seller in the transaction.

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IllinoisInvestment salesNewsRetailers

Marcus & Millichap Arranges $4.1 Million Sale of Retail Center in Buffalo Grove, Illinois

by Alex Tostado

Buffalo Grove, Ill. — Marcus & Millichap has arranged the sale of Creekside Commons in Buffalo Grove for $4.1 million. The 23,058-square-foot retail center is located at 1101 Weiland Road. Tenants include 7-Eleven, Re/Max, Creekside Dental, Tokyo Nails, Pizanoz Pizza and State Farm Insurance. Mitchell Kiven of Marcus & Millichap marketed the property on behalf of the seller, a Libertyville, Illinois-based partnership of real estate investors. Kiven also sourced the buyer, Shiner Buffalo Creek LLC, a retail developer and investor.

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FloridaInvestment salesNewsRetailers

Sleiman Enterprises Acquires 200,000-Square-Foot Shopping Center in North Florida

by Alex Tostado

Jacksonville, Fla. — Sleiman Enterprises has acquired Lakewood Promenade, a 200,000-square-foot shopping center in Jacksonville’s Lakewood neighborhood. The property was 82 percent leased at the time of the sale to 47 retailers and food providers, including anchors Stein Mart, Tijuana Flats, Winn-Dixie and Starbucks Coffee. The seller and sales price were not disclosed, but the Jacksonville Daily Record reports the seller was Kite Realty Group Trust.

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FinanceNewsRetailersTexas

JLL Arranges $10.5 Million Loan for Refinancing of Retail Center in Lubbock

by Alex Tostado

Lubbock, Texas — JLL has arranged a $10.5 million loan for the refinancing of Rockridge Plaza, an 86,500-square-foot retail center located in the West Texas city of Lubbock. The property was 95 percent leased at the time of sale to a mix of national retailers and local businesses. Jimmy Board and Wes Wallace of JLL arranged the fixed-rate, nonrecourse loan through Deutsche Bank on behalf of the borrower, Graco Real Estate Development.

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CaliforniaInvestment salesNewsRetailers

Progressive Real Estate Partners Negotiates $2.6 Million Sale of Retail Building in Inland Empire

by Alex Tostado

Apple Valley, Calif. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail building at Rancherias Plaza, located at 20162 Highway 18 in Apple Valley, California. A private Los Angeles-based investor sold the property to a private San Diego-based investor for $2.6 million. Built in 1991, the asset features 15,105 square feet of retail space. At the time of sale, the shopping center was 92 percent occupied. CVS/pharmacy and 99 Cents Only Stores anchor the property. Greg Bedell and Chris Lindholm of Progressive Real Estate Partners represented …

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