Shopping Center Business

JUL 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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10 • SHOPPING CENTER BUSINESS • July 2018 NEWSLINE ARTISAN REALTY ACQUIRES 40,000-SQUARE-FOOT RETAIL PROPERTY IN HOLLYWOOD FOR $61 MILLION Artisan Realty Advisors has purchased Space 15 Twenty, a 40,000-square-foot retail property in Hollywood, California. Cahuenga Lofts and Ivar Group sold the property for $61 million. The property comprises two buildings with an open space area and a surface parking lot. Urban Outfitters, Umami Burgers, Free People and Pharmacy Boardshop occupy the property. The asset was built in the mid-1920s and renovated in 2007. Cory Stehr of Lee & Associates-LA North/ Ventura represented the sellers in the transaction. CBRE ARRANGES $46.5 MILLION SALE OF BRISTOL CENTER IN ORANGE COUNTY, CALIFORNIA CBRE's National Retail Partners-West team has arranged the $46.5 million sale of Bristol Center, a 165,508-square-foot shopping center in the Orange County community of Santa Ana, California. Preston Fetrow, Kirk Brummer, Megan Wood, Sean Heitzler and Philip Vorhees of CBRE arranged the transaction on behalf of both the seller, Sarofim Realty Advisors, and the buyer, JH Real Estate Partners. Bristol Center was 97 percent leased at the time of sale to tenants such as CVS/pharmacy, Michaels, Staples, Party City, Wells Fargo, Buffalo Wild Wings, Chick-fil-A, Chipotle Mexican Grill and Firestone Auto Care. MARCUS & MILLICHAP ARRANGES $55 MILLION SALE OF 19-PROPERTY RETAIL PORTFOLIO IN NEW YORK CITY Marcus & Millichap has arranged the $55 million sale of a 19-property retail portfolio located in the Bronx, Brooklyn and Yonkers in New York City. Mark Gjonbalaj of Marcus & Millichap arranged the transaction on behalf of the seller, a New York City family that owned the assets for 30 years, and the buyer, Chestnut Holdings. The portfolio includes 18 retail properties and one vacant lot, comprising 106,708 square feet of rentable retail space and 493,679 buildable square feet. HFF ARRANGES $41.5 MILLION SALE OF SHOPRITE- ANCHORED CENTER IN NEW JERSEY HFF has arranged the $41.5 million sale of Wall Towne Center, a 99,070-square-foot retail center in the central New Jersey community of Wall Township. DWS acquired the property from AEW Capital Management LP. ShopRite anchors the center, which was fully leased at the time of sale. Wall Towne Center is home to 12 additional tenants including Great Clips, AT&T, GNC, Allstate Insurance, Cherry Blow Dry Bar, OceanFirst Bank, Lubrano's Trattoria and PetValu. Jose Cruz, Kevin O'Hearn, Chris Munley, Michael Oliver and Stephen Simonelli of HFF arranged the transaction on behalf of the seller. NKF ARRANGES SALES OF THREE SHOPPING CENTERS IN GEORGIA TOTALING MORE THAN $36 MILLION NKF Capital Markets has arranged the sales of two Publix-anchored shopping centers and one fitness-anchored center in Georgia. The transaction totals more than $36 million and spans approximately 200,000 square feet. In Perry, a city in Central Georgia, Cypress Development sold Paradise Shoppes of Perry to Flag Wharf Inc. for $11.4 million. The 72,200-square-foot center was 96 percent leased at the time of sale to tenants such as Publix, Subway, Marco's Pizza, El Jalisco Grille and T-Mobile. In Atlanta, Lakha Properties sold the 46,219-square-foot Shallowford Exchange to Shallowford LLC for $12.5 million. The center was fully leased at the time of sale to tenants such as Publix, Subway, Marco's Pizza, UPS Store and MetroPCS. In Alpharetta, located 25 miles north of Atlanta, WB Holdings-Silos LLC acquired The Silos at North Farm Marketplace for $12.5 million. The 78,765-square-foot center was 97 percent leased at the time of sale to One Life Fitness, Alpine Bakery and Bach to Rock. Drew Fleming, Mark Joines and Henry Kushner of NKF arranged all three transactions. Bristol Center was 97 percent leased at the time of sale to tenants such as CVS/ pharmacy, Michaels, Party City, Buffalo Wild Wings, Chick-fil-A and Chipotle Mexican Grill. NKF Capital Markets arranged the sale of Shallowford Exchange, a 46,219-square-foot, Publix-anchored center in Atlanta. Ventura Harbor Village, Ca Multi-Use Waterfront Opportunity Available! Submissions due Friday, August 31, 2018 venturaharbor.com/leasing Robin Baer, Property Manager: (805) 642-8538 x107 Two-Story Space | 7,922 SF Total 1 st floor = 4,942 sf (patio sf available) 2 nd floor = 1,880 sf interior with 1,100 sf patio Marina view from both floors Ocean view from 2 nd Floor Restaurant • Entertainment • Retail Broker commission considered

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