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DevelopmentGrocery-anchoredIllinoisNewsRetailers

Hanley Arranges $1.7 Million Sale of New Aldi-Occupied Building in Litchfield, Illinois

by Alex Tostado

Litchfield, Ill. — Hanley Investment Group has arranged the $1.7 million sale of a new Aldi-occupied building in Litchfield Plaza in Litchfield. The 22,245-square-foot building opened July 18. Other tenants at the center include Dollar General, Glik’s, Hibbett Sports, Maurices, National Rent-to-Own, Pizza Hut, Salvation Army, Shoe Sensation, Taco Bell and Wendy’s. Aldi has a 15-year, absolute triple-net ground lease in place that has rental increases every five years and renewal options. Jeff Lefko and Bill Asher of Hanley, along with Alex Apter of LOCATION Commercial Real Estate, represented the …

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CaliforniaCompany newsNew JerseyNewsRetailers

Joint Venture Revives Toys ‘R’ Us Brand, to Open Two New Stores Before Christmas

by Alex Tostado

Parsippany, N.J. and San Francisco — One of the recently fallen retail giants is poised to make a return less than two years after its demise. Tru Kids Brands, the Parsippany-based parent company of Toys ‘R’ Us, and b8ta, a San Francisco-based experiential retail firm, have announced plans to bring back Toys ‘R’ Us stores to the United States. The retailer announced in March 2018 that it was declaring bankruptcy and would start an “orderly wind down” and close its 735 remaining stores. Now, 16 months later, the Tru Kids-b8ta joint venture …

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Investment salesKentuckyNewsRetailers

Hendon, Harbert Sell Shopping Center in Louisville for $30.3 Million

by Alex Tostado

Louisville, Ky. — A joint venture between Hendon Properties and Harbert United States Real Estate Fund VI LP (HUSREF VI) has sold Westport Village, a 169,515-square-foot shopping center in Louisville, for $30.3 million. Westport Village is situated at 1315 Herr Lane, 10 miles east of downtown Louisville. Since acquiring the site in May 2016, Hendon Properties has signed 13 new leases totaling 56,000 square feet and renewed 32 leases totaling 102,000 square feet. Birmingham, Ala.-based Wicker Park Capital Management LLC acquired the center.

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FinanceMarylandNewsRetailers

KeyBank Provides $26.6 Million Loan for Refinancing of Retail Property in Suburban Maryland

by Alex Tostado

Pasadena, Md. — KeyBank Real Estate Capital has provided a $26.6 million, non-recourse bridge loan to refinance Pasadena Crossroads, a 320,249-square-foot retail center in Pasadena. The loan includes funds for leasing and capital expenditures. The center was originally built in 1973 and was renovated earlier this year. Hobby Lobby, Art Van Furniture, LA Fitness and Sprouts Farmers Market anchor the property, which is 37 percent leased. Jacob Proctor of KeyBank arranged financing on behalf of the undisclosed borrower.

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Investment salesNewsRetailersTexas

Disney Investment Group Arranges $17 Million Sale of Towne North

by Alex Tostado

Irving, Texas — Dallas-based Disney Investment Group has arranged the $17 million sale of Towne North, a 124,289-square-foot shopping center in Irving. Anchored by El Rancho Supermarket, the property was 84 percent leased at the time of sale. David Disney and Adam Crockett of Disney Investment Group represented the seller, an entity controlled by HSM Equities, and procured the undisclosed buyer.

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Investment salesMallsNewsOregonRetailers

Overbay Development Co. Sells Wagner Mall, Pinebrook Plaza in Bend, Oregon

by Alex Tostado

Bend, Ore. — Overbay Development Co. has completed the disposition of Wagner Mall and Pinebrook Plaza, two shopping centers located in Bend. Western Pacific Holdings acquired the both assets for an undisclosed price. Located at 1800 NE Third St., Wagner Mall features 108,818 square feet of retail space, including Albertsons, Rite Aid and Aaron’s as tenants. The Wagner Mall sale include the mall, large box spaces and the surrounding pad sites, totaling 9.35 acres. Located at 61155 Highway 97, the 59,509-square-foot Pinebrook Plaza is currently home to Albertsons and other …

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Investment salesMaineNewsRetailers

Cardente Negotiates Sale of 24,150-Square-Foot Retail Center in Portland, Maine

by Alex Tostado

Portland, Maine — Cardente Real Estate has negotiated the sale of Brighton Avenue Plaza, a 24,150-square-foot retail center located at 1041 Brighton Ave. in Portland, for approximately $3 million. Greg Perry of Cardente represented the buyer, All-American Family LLC, in the transaction. Charles Day of Porta & Co. represented the seller, 1041 Brighton Ave. LLC. The property was built in 1988.

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CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Negotiates $4.1 Million Sale of Four-Tenant Asset in Huntington Beach

by Alex Tostado

Huntington Beach, Calif. — Hanley Investment Group Real Estate Advisors has facilitated the sale of a multi-tenant retail building, located at 6946-6968 Warner Ave. in Huntington Beach. A San Diego-based private investor acquired the property from a Newport Beach, Calif.-based private investor for $4.1 million. Eric Wohl of Hanley Investment Group represented the seller, while Randy Rivera of Capital Real Estate Ventures represented the buyer in the deal. At the time of sale, the four-tenant, 8,600-square-foot retail property was fully occupied by Trading Post Fan Co., Advanced Dental Huntington Beach, …

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GeorgiaInvestment salesNewsRetailers

Jamestown Acquires The Shops Buckhead Atlanta

by Alex Tostado

Atlanta — Jamestown has acquired The Shops Buckhead Atlanta, a 355,646-square-foot retail and office property in Atlanta’s Buckhead district. Situated along Peachtree Road and bounded by Pharr Road and Buckhead Avenue, The Shops Buckhead Atlanta is home to international retail brands such as Hermès and Tom Ford, as well as restaurants, entertainment and fitness tenants. The office space is fully leased to two tenants, Spanx’s global headquarters and No18, the first U.S. coworking location. Additionally, the property includes two prime development sites totaling 2.7 acres. OliverMcMillan developed the upscale, six-block property …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

Cushman & Wakefield Arranges $49 Million Sale of Whole Foods-Anchored Shopping Center in Southwest Florida

by Alex Tostado

Fort Myers, Fla. — Cushman & Wakefield has arranged the $49 million sale of Daniels Marketplace, a 106,739-square-foot shopping center in Fort Myers. The site, situated at 6891 Daniels Parkway, was fully leased at the time of the sale to tenants including Whole Foods Market, a salon, dentist, Pilates gym, dry cleaner, pet hospital and several fast-casual restaurants such as Mellow Mushroom and Panera Bread. There are also future development opportunities at the property. Fain Hicks, Mark Gilbert, Lane Breedlove, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented …

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