Retailers

SBH Real Estate Sells Retail Property in Southern California for $7.8 Million

by Alex Tostado May 1, 2019

Burbank, Calif. — SBH Real Estate Group has completed the disposition of a 14,000-square-foot retail property occupied by Harbor Freight Tools in Burbank, California. SBH originally purchased the property in the first quarter of 2018 and proceeded to renovate and improve the building. Renovations included a new roof, updated electrical and lighting systems, new restrooms and a new HVAC system. A private investor acquired the property for $7.8 million. Adam Friedlander and Kien Tsoi of JLL represented the seller, while Jeff Gerlach from CBRE represented the buyer in the deal.

May 1, 2019

Florida Investment sales News Retailers

SRS Negotiates $6.3 Million Sale of Shopping Center in Central Florida

by Alex Tostado May 1, 2019

Longwood, Fla. — SRS Real Estate Partners has arranged the $6.3 million sale of Shoppes at Village Square, a 61,200-square-foot shopping center located in Longwood, Florida, 14 miles north of downtown Orlando. The center was 88 percent leased at the time of sale to tenants such as O’Reilly Auto Parts, Sherwin-Williams and CrossFit Evolution. Kevin Yaryan of SRS’ Investment Properties Group in Orlando represented the seller, Harvest Holdings LLC, in the transaction. Trey Gravenstein of First Capital Property Group represented the buyer, Shoppes at Village Square LLC.

May 1, 2019

Investment sales News Retailers Virginia

Armada Hoffler to Acquire Two Retail Centers in Virginia for $105 Million

by Alex Tostado April 30, 2019

Virginia Beach, Va. — Armada Hoffler will acquire Red Mill Commons and Marketplace at Hilltop in Virginia Beach, Virginia, for a combined $105 million from local retail developer Venture Realty Group. As part of the acquisition, Armada Hoffler will exchange 4.1 million operating partnership units valued at $15.55 apiece, as well as the assumption of $36 million in debt and $5 million in cash. Red Mill Commons is a 374,000-square-foot retail center that was 98 percent leased at the time of sale to more than 90 tenants, including T.J. Maxx, …

April 30, 2019

Alabama Leasing News Retailers

GBT Realty Signs HomeGoods, Shoe Station at Tuscaloosa Shopping Center

by Alex Tostado April 30, 2019

Tuscaloosa, Ala. — GBT Realty has signed HomeGoods and Shoe Station to lease space at McFarland Plaza, a 234,000-square-foot retail power center located in Tuscaloosa, Alabama, one mile south of the University of Alabama. HomeGoods will backfill a former Toys ‘R’ Us store spanning 23,000 square feet, and Shoe Station will lease 11,900 square feet. The center was 97 percent leased at the time of sale to tenants such as Ross Dress for Less, T.J. Maxx, Stein Mart, Cato Fashions, Michaels and Pet Supplies Plus. GBT Realty’s leasing team is …

April 30, 2019

California Investment sales News Retailers

Hanley Investment Group Arranges $2.6 Million Sale of Two-Tenant Retail Property in Merced, California

by Alex Tostado April 30, 2019

Merced, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building, located at 360 W. 16th St. in Merced, California. Ares Commercial Properties acquired the property from a Bakersfield, California-based private investor for $2.6 million. Built in 2016, the 3,700-square-foot pad building features a 1,900-square-foot Starbucks Coffee with drive-thru and an 1,800-square-foot T-Mobile store. Bill Asher, Jeff Lefko and William Ito of Hanley Investment Group represented the seller, while Mort Rothman of Commercial Real Estate represented the buyer in the transaction.

April 30, 2019

Investment sales News Retailers Texas

Four Retail Centers in Texas Trade for $90.8 Million

by Alex Tostado April 29, 2019

Kyle, Temple, San Antonio and Garland, Texas — Four retail centers spanning more than 634,000 square feet in Texas have sold for a combined $90.8 million. Elm Creek Real Estate and Reserve Development LLC purchased Kyle Crossing, a 121,485-square-foot center in Kyle, 20 miles south of Austin. Target is the anchor tenant at the 16.8-acre property. SITE Centers was the seller. Dallas-based Clearview Investments Ltd. acquired Temple Towne Center in Temple, 70 miles north of Austin. Kimco Realty Corp. sold the 274,799-square-foot property, which is situated on 26.8 acres. In …

April 29, 2019

Development Georgia News Retailers

Tri-Land Breaks Ground on Redevelopment of 253,000-Square-Foot Shopping Center in Metro Atlanta

by Alex Tostado April 25, 2019

Conyers, Ga. — Tri-Land Properties Inc. has begun construction on the overhaul of Salem Gate Market, a 253,000-square-foot, grocery-anchored shopping center located 25 miles southeast of Atlanta in Conyers. The multimillion-dollar redevelopment will include a 55,000-square-foot Hobby Lobby, 20,000-square-foot Northern Tool + Supply, a 103-room hotel and an Allure Nail & Spa. Tri-Land is rebuilding Salem Gate in a public-private partnership with the city of Conyers. Salem Gate is the first project underway as part of the Conyers Gateway Village District, the product of a new zoning ordinance adopted by …

April 25, 2019

California Investment sales News Retailers

Brixton Capital Sells 290,000-Square-Foot Towngate Center in Moreno Valley for $50.9 Million

by Alex Tostado April 25, 2019

Moreno Valley, Calif. — Brixton Capital has completed the sale of Towngate Center, a community shopping center located at 12625 Frederick St. in Moreno Valley, California. An Asian-Pacific-based 1031 exchange buyer acquired the asset for $50.9 million. At the time of sale, the 290,000-square-foot property was 95 percent occupied by tenants including TJ Maxx/Home Goods, BevMo, Ross Dress for Less, Dollar Tree, Ulta Beauty, Regency Theaters, Planet Fitness, Chipotle Mexican Grill and Wells Fargo Bank. Phillip Voorhees of CBRE’s National Retail Partners-West represented the seller in the transaction.

April 25, 2019

Investment sales Nevada News Retailers

PEBB Enterprises Acquires 228,279-Square-Foot Rainbow Promenade Retail Center in Las Vegas

by Alex Tostado April 25, 2019

Las Vegas — PEBB Enterprises has purchased Rainbow Promenade, a retail power center adjacent to U.S. 95 and North Rainbow Boulevard near Las Vegas’ Summerlin submarket. PEBB acquired the 228,279-square-foot property through an auction platform. The price was not disclosed. The center recently underwent a $5 million renovation and is currently 95 percent occupied by a variety of tenants, including Hobby Lobby, Barnes & Noble Bookstore, Party City and Cost Plus World Market. The asset also includes three ground-lease pads occupied Macaroni Grill, Chili’s Grill & Bar and AMC Theatres. …

April 25, 2019

Alabama Investment sales News Retailers

Marcus & Millichap Negotiates $7.8 Million Sale of Retail Center in Eastern Alabama

by Alex Tostado April 25, 2019

Gadsden, Ala. — Marcus & Millichap has arranged the $7.8 million sale of Riverview Plaza, a 148,860-square-foot shopping center in Gadsden, Alabama. Bargain Hunt, Harbor Freight Tools, Tuesday Morning and Dollar Tree anchor the center. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, EIG Riverview Plaza LLC, in the transaction. Louise Jennings of Real Estate Southeast represented the buyer, MR Stealth LLC, which is a private investor.

April 25, 2019

Newer Posts

Older Posts