Retailers

DevelopmentNew MexicoNewsRetailers

Heslin Holdings Completes Redevelopment of West Central Plaza in Albuquerque

by Alex Tostado

Albuquerque, N.M. — Heslin Holdings has completed the redevelopment of West Central Plaza, a retail center located at 4208 Central Ave. SW in Albuquerque. Retailers at the property are now open for business. The company originally acquired the 150,000-square-foot retail center in 2015 with a large, vacant, single-tenant space. The multimillion-dollar renovation included the division of the largest freestanding building at the property, formerly occupied by Kmart, into two anchor tenant spaces now occupied by Burlington and Conn’s Home Plus. Heslin Holdings also added 17,000 square feet of floor space …

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Company newsNew YorkNewsRetailers

Richard Johnson, Charlie Koniver Launch Odyssey Retail Advisors

by Alex Tostado

New York City — Richard Johnson and Charlie Koniver have launched Odyssey Retail Advisors LLC, an expansion and rebranding of Johnson Retail RE Consulting Inc. Johnson and Koniver both previously worked for global luxury group, Kering. Johnson is an attorney and member of the New York State Bar and created Johnson Retail, serving clients such as Crown Acquisitions/Wynn Las Vegas, Boston Seaport, Burberry, Stella McCartney, Sergio Rossi and Clarins. Koniver previously collaborated with Johnson while serving as a real estate specialist for the Americas at Kering. Daniel Lewis has joined Odyssey …

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DevelopmentNewsOhioRetailers

Construction Underway for First Retail Phase of Hamilton Quarter in Columbus

by Alex Tostado

Columbus, Ohio — Casto is underway on construction of the first retail phase of Hamilton Quarter in Columbus. This phase includes a 250,000-square-foot shopping center anchored by Target and Hobby Lobby. Both the 125,000-square-foot Target and the 55,000-square-foot Hobby Lobby are scheduled to open in October. Other planned tenants include Five Below, Aqua Tots Swim School, Beerhead Bar & Eatery, The Nail Boutique, Clean Juice, Sprint and Great Clips. The 40-acre retail site is immediately adjacent to The Ohio State University Wexner Medical Center’s planned medical campus. Hamilton Quarter is …

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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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