Solana Beach, CA-based Brixton Capital purchased the fully leased, 103,568-square-foot Palmilla Center in Avondale, AZ from Weingarten Realty Investors. The retail buildings sold for $23.25 million, or approximately $224 per square foot.
The shopping center is located at the intersection of N. Dysart Rd. and W. McDowell Rd. between Coldwater Plaza and the Shops at Alameda Crossing. Major tenants at Palmilla include Dollar Tree, OfficeMax,...
Brixton Buys Fully-Leased Shopping Center in Avondale
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New York REIT Sells One Jackson Square Retail Condos for $31M
New York REIT, Inc. sold the four retail condos in the One Jackson Square multifamily building at 122 Greenwich Ave. in New York City for $31.01 million, or about $4,400 per square foot, to RFR Realty.
The four retail units total 7,080 square feet across the ground floor of the 36-unit residential condominium tower. At the time of the sale, the retail assets were 100 percent occupied by TD Bank, Juice Press and Starbucks.
The property sold...
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Retail Investment Property Trades for $5.5M
Ashdon Development, Inc. sold the leased fee interest under a Raising Cane’s property located at 23971 El Toro Rd. in Laguna Hills, CA to a private investor for almost $5.48 million.
The 0.94-acre lot is currently improved with a 2,882-square-foot, freestanding quick-service restaurant building constructed in 2016. It is located directly off the 405 Freeway, across from the Laguna Hills Mall.
The location combined with the trophy status...
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Hankins Breaks Ground on Clemmons Town Center
Huntersville, NC-based Hankins Cos. broke ground on Clemmons Town Center, a four-building lifestyle center in Clemmons, NC.
The lifestyle center, located on a 16.6-acre site off of Lewisville-Clemmons Ave., will include two 40,000-square-foot retail buildings, a 100-room Holiday Inn and Express Suites hotel, and a medical office building. The project is slated to deliver in the fourth quarter of 2018.
Clemmons is located about 11 miles southwest...
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Top Ackerman Broker Joins Firm's Retail Group
Home to Arby's, Chick-fil-A, Waffle House, Ted's Montana Grill, Buffalo Wild Wings and several well-known chefs, Atlanta arguably is the restaurant capital of the U.S. At least one star broker is ready to seize the opportunity this presents.
Bryan Davis, a top producer at Ackerman & Co., just jumped to Ackerman Retail, where he will focus on representing restaurants and their owners. Since 2012, Davis has completed a litany of high-profile transactions...
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Pebb Enterprises Flips Fully-Leased Retail Bldg. in Aurora
Pebb Enterprises, a family-owned, private equity real estate company, sold a 116,436-square-foot retail building at Marketplace at Four Corners in Aurora, OH to La Habra, CA-based 2002 Tobias Family Trust for $15.8 million, or approximately $136 per square foot.
The single-story retail building at 7555 Market Place Dr. is fully occupied to major tenants including Stein Mart, Party City and Kirkland's.
The building, which was developed in 2004...
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PickUp USA Fitness to Open New 17,000-SF Location in Coppell
PickUp USA Fitness, a full service fitness club, signed a 10-year lease to open a new 16,936-square-foot location at 989 W. Sandy Lake Rd. in Coppell, TX.
Constructed in 2005, the 57,302-square-foot property is located within the Sandy Lake Business Center about 20 miles northeast of Dallas.
Cole Hooper and Allyson Yost of Colliers International represented the tenant. Erik Blais of Bradford Cos. represented the landlord, B.C.E. Specialties...
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UK's NW1 Partners Forms Washington DC Retail Venture
David Boyle, Managing Partner at NW1 Partners. (Credit: NW1 Partners)
London-based NW1 Partners has closed fundraising for a new venture that plans to invest in Washington DC retail real estate.
NW1 Washington DC Urban Retail Venture, which is targeting $175 million in total investments, said it is assembling a portfolio of urban retail assets in several suburban markets.
The investment firm has partnered with Martin-Diamond Properties (MDP)...
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United Properties Sells Chunk of Gaviidae Common for $24.6M
An entity tied to Las Vegas, NV-based Kingsbarn Realty Capital has paid $24.55 million for two floors of Gaviidae Common, a retail and office building in downtown Minneapolis.
A spokesperson for Minneapolis-based developer United Properties confirmed Wednesday that the company sold parts of the first and second floors of 655 Nicollet Mall, formerly home to the Saks Fifth Avenue store. The transaction includes the spaces occupied by a two-level...
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End of the Line for Toys R Us as Retailer Plans to Close Remaining Stores Totaling About 38M-SF
Beloved by kids and landlords but largely shunned by consumers this past holiday shopping season, Toys R Us officially announced this morning that it was calling it quits and would wind down operations, closing its remaining 735 stores in operation encompassing an estimate 29.3 million square feet of mostly big box retail space.
The Wayne, NJ-based toy retailer had already closed or planned to close 8.5 million square feet of its brick and mortar...
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United Furniture Style Leases Folsom Retail Space
United Furniture Style, a furniture retailer, has signed a lease for 15,800 square feet in the retail building at 199 Kedron Ave. in Folsom, PA.
The building totals approximately 24,200 square feet in the Delaware County submarket. United Furniture Style’s lease includes most of the building, with Marburn leasing the remaining portion.
Marc Raiken of Feinberg & McBurney Realty / Development LLC represented the landlord in this transaction.
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Ulta Beauty Takes 10,000 SF in Promenade at Tuskawilla
Ulta Beauty, a national beauty supply retail chain, signed a 10,000-square-foot lease at the Promenade at Tuskawilla shopping center at 1425 Tuskawilla Rd. in Winter Springs, FL.
The two-story, 217,032-square-foot center was built in 1990 and is located on a 3.2-acre site in the Casselberry submarket. Other major tenants located within the center include Bells, Hobby Lobby and HomeGoods, according to CoStar data.
Cathy Mancari provided in-house...
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Mesirow Financial Rolls The Dice on Three Gateway Casino & Entertainment Properties
Pictured: The Grand Villa Casino Burnaby in Burnaby, BC.An employee-owned financial services company out of Chicago has bet big on three Vancouver-area casino and entertainment properties owned and operated by one of the largest gaming and entertainment companies in Western Canada.
Gateway, which operates the Grand Villa Casino Burnaby, Starlight Casino New Westminster and Cascades Casino Langley, along with nine other casinos across British Columbia...
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CVG Properties Purchases 9,350-SF Historic Retail Bldg. in Park City
Scottsdale, AZ-based CVG Properties acquired a 9,350-square-foot retail building in Park City, UT from Columbus Pacific Properties for $6.58 million, or approximately $703 per square foot.
The historic building, which was formerly occupied by Cisero’s Ristorante, is leased to Firewood, which is a new, upscale steakhouse for wood-fired dishes. The structure delivered in 1901 at 306 Main St. and is surrounded by ski resorts including Deer Valley...
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Harbor Freight Takes 26,000-SF at Hampton Plaza Shopping Center
Harbor Freight, a privately held discount tool and equipment retailer headquartered in Calabasas, CA, signed a 26,051-square-foot lease at Hampton Plaza shopping center in Hampton, VA.
The single-story retail building at 4019-4041 W. Mercury Blvd. totals 125,000 square feet. Major tenants include Ollie’s Bargain Outlet, Family Dollar Store and Citi Trends.
Kazis Hampton Holding purchased the shopping center in December 2015, according to...
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Southeastern Grocers to Close 94 Stores, File 'Pre-Packaged' Ch. 11 as Part of Restructuring Agreement with Lenders
Following a months' long review of how to reduce its debts, Jacksonville-based Southeastern Grocers has chosen to file for Chapter 11 bankruptcy reorganization.
As part of this restructuring, it has decided to close 94 underperforming stores across the South, 35 in Florida, 19 each in Georgia and South Carolina, 10 in Alabama, nine in North Carolina, and one each in Mississippi and Louisiana.
"We have not taken these steps without careful planning...
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Lettuce Entertain You Enterprises Leases 38,000 SF at 321 N. Clark
Lettuce Entertain You Enterprises (LEYE) is bringing a new restaurant and entertainment concept to 321 N. Clark St. in Chicago's River North area.
The locally-based restaurant group reached a deal for 38,000 square feet across four levels that will serve as the future site of RPM on the Water, a new restaurant and events venue that will feature three separate venues, a two-story restaurant, a private events space and a casual concept.
Scheduled...
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More Retail Downtown? Survey Says Yes Please
Residents, workers and visitors of downtown Los Angeles are ready for more retail in the burgeoning city center, according to a new survey released by the Downtown Center Business Improvement District.
The DCBID surveyed 6,126 people who live, work or visit downtown’s Bunker Hill and Financial District about their opinions on downtown and released the results of the survey this week.
Among the most interesting findings, about 90 percent appreciate...
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Specialty Retailer Claire's Files for Chapter 11
Claire's Stores Inc. this morning filed to pursue a Chapter 11 bankruptcy financial restructuring in order to eliminate a substantial portion of its $1.9 billion in debt outstanding.
The filing follows its decision last week to defer a debt payment due March 15.
The Chicago area-based company's management said it is confident that, through the restructuring process, Claire's will cement its position as a leading specialty retailer of jewelry...
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King’s Gate Shopping Center Trades for $6.9M
Midland Atlantic Properties, an investment, development and brokerage firm based in Cincinnati and Indianapolis, purchased the 105,368-square-foot King’s Gate shopping center in Cincinnati from RMS Realty for $6.85 million, or approximately $65 per square foot.
The shopping center is located at 7743-7779 Tylersville Rd. near I-75. Major tenants at King’s Gate include Big Lots, Liberty Tax Service, Firestone Complete Auto Care, Taco Bell and Two...
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