Shopping Center Business

JUL 2018

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14 • SHOPPING CENTER BUSINESS • July 2018 NEWSLINE 2014 and fully leased at the time of sale. Other tenants include Mattress Firm, La Madeleine, SH Salon and Memorial Hermann. Rusty Tamlyn, Ryan West, John Indelli and Charlie Strauss of HFF represented the seller, a partnership between Fidelis Realty Partners and BayNorth Capital LLC, in the transaction. Colby Mueck and Michael Johnson of HFF secured an undisclosed amount of acquisition financing through a national life insurance company on behalf of the new owner, American Realty Advisors. CUSHMAN & WAKEFIELD ARRANGES $6.7 MILLION SALE OF GREENFIELD GATEWAY IN ARIZONA Cushman & Wakefield has arranged the $6.7 million sale of Greenfield Gateway, a 67,709-square-foot shopping center in Mesa, Arizona. HH-Greenfield Gateway LLC, an entity formed by Hinkson Co., acquired the asset from Greenfield Gateway Retail Investments LLC. Chris Hollenbeck of Cushman & Wakefield arranged the transaction on behalf of both parties. Walmart shadow-anchors the center, which was 87 percent leased at the time of sale. Tenants at the center include Lina's Home Furnishings, AT&T, Sally Beauty Supply and Wendy's. LAMAR COS. PURCHASES 550,000-SQUARE-FOOT SHOPPING CENTER IN METRO PHOENIX Lamar Cos., in partnership with Real Capital Solutions, has acquired the Promenade at Casa Grande in Case Grande, Arizona, a suburb of Phoenix. Macerich sold the 550,000-square-foot property for an undisclosed price. The Promenade at Casa Grande is a portion of an open-air shopping center totaling more than 1 million square feet. Tenants at the property include Harkins Theaters, Ross Dress for less, Marshalls, PetSmart, Bed Bath & Beyond, Shoe Dept., Michaels, Beall's Outlet, Dollar Tree and Ulta Beauty. SAVILLS STUDLEY ARRANGES SALE OF 147,943-SQUARE-FOOT WINCO PLAZA IN OREGON Savills Studley has arranged the sale of WinCo Plaza, a 147,943-square-foot shopping center in Medford, Oregon. Argonaut Investments acquired the property from a private family office. A 94,500-square-foot WinCo Foods anchors the center, which is also home to Dollar Tree, McDonald's, Payless ShoeSource and Valley Immediate Care. Maurice Neiman of Savills Studley arranged the transaction on behalf of the seller. CUSHMAN & WAKEFIELD BROKERS $19 MILLION SALE OF SHOPPING CENTER ON FLORIDA'S EAST COAST Cushman & Wakefield has brokered the sale of Marketplace Square, a 169,223-square-foot shopping center located at 3181 N.W. Federal Highway in Jensen Beach, Florida. Patrick Berman, Jason Donald and Todd Tolbert of Cushman & Wakefield arranged the transaction on behalf of the seller, Leon Capital Group. Exchange Solutions Inc. acquired the asset. Hobby Lobby anchors Marketplace Square, which was 89 percent leased at the time of sale. Additional tenants include Dollar Tree, Buffalo Wild Wings, Buddy's Home Furnishings, Once Upon a Child and Rush Trampoline Park. The center also houses two outparcels, occupied by KFC and Sonic. ZIFF PROPERTIES SELLS RETAIL CENTER NEAR COLUMBIA, SOUTH CAROLINA, FOR $12.6 MILLION Ziff Properties Inc. has sold Lexington Towne Center, a 131,809-square-foot retail center in Lexington, South Carolina, for $12.6 million. The property is located 15 miles west of Columbia. Berkeley Capital and The Palomar Group arranged the transaction on behalf of Ziff Properties. A New York-based private buyer acquired Lexington Towne Center, which is home to tenants such as Food Lion, Stein Mart, Tuesday Morning, Urban Nirvana, Cold Stone Creamery, Moe's Southwest Grill and Hibbett Sporting Goods. HFF ARRANGES SALE OF FULLY LEASED RETAIL STRIP CENTER IN HOUSTON HFF has arranged the sale of a fully leased retail strip center located in Houston's Washington Memorial Heights neighborhood. Ryan West, John Indelli and Charlie Strauss of HFF arranged the transaction on behalf of the seller, Orr Commercial. A private buyer acquired the asset for an undisclosed price. The Washington at Durham strip center, constructed in 1999, is home to tenants including FedEx Kinko's, MT Nails & Facial Salon, Vapor Shop, Bell Cleaners and Subway. REATA ARRANGES SALE OF VALLEY VIEW SHOPPING CENTER IN SAN ANTONIO REATA Real Estate Services LP has arranged the sale of Valley View Shopping Center, an 86,196-square-foot retail center located in San Antonio. Anchored by Marshalls, the property was 89 percent occupied at the time of sale. Kevin Catalani of REATA represented the seller, Weingarten Realty, in the transaction. Dallas-based LRIC Properties purchased the center for an undisclosed price. ABS ACQUIRES RALEIGH SPRINGS MARKETPLACE IN TENNESSEE ABS Management & Development has acquired Raleigh Springs Marketplace in Memphis. AZT Corp. sold the asset for an undisclosed price. The center was 85 percent leased at the time of sale to 19 tenants including Subway, Veterans Affair Clinic, Save-a-Lot, T-Mobile and Rainbow. ABS Management & Development will invest in capital improvements to the center including modern façade upgrades, LED lighting, parking lot repairs and the addition of an advanced security system. Greenfield Gateway was 87 percent leased at the time of sale to tenants such as Lina's Home Furnishings, AT&T, Sally Beauty Supply and Wendy's. Send your news to SCB scb@francemediainc.com

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