Shopping Center Business is the leading monthly business magazine for the retail real estate industry.
Issue link: http://shoppingcenterbusiness.epubxp.com/i/710880
12 • SHOPPING CENTER BUSINESS • August 2016 NEWSLINE DONAHUE SCHRIBER REALTY GROUP SELLS FOUR GROCERY-ANCHORED CENTERS IN METRO LAS VEGAS Donahue Schriber Realty Group has sold four grocery-anchored shopping centers located in Henderson and North Las Vegas. The properties, totaling 336,096 square feet, were sold in four transactions to individual buyers. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller, Donahue Schrib- er, in all four transactions. Assets include Smith's Food and Drug Store-anchored Pebble Marketplace, Paseo Verde Plaza, Eldorado Plaza and Trader Joe's-anchored Green Valley Plaza. The centers are home to tenants including Chase Bank, Jack in the Box, Starbucks Coffee, Dollar Tree and Big 5 Sporting Goods. INVENTRUST SELLS WESTPORT VILLAGE SHOPPING CENTER IN LOUISVILLE InvenTrust Properties Corp. has sold Westport Village, a 169,000-square-foot lifestyle center located in Louisville, Kentucky. A joint venture affiliated with Atlanta-based Hendon Properties and Birmingham-based Harbert Management acquired the property for an undisclosed price. Originally constructed in 1969 and fully renovated in 2007, the lifestyle center is home to nine multi-tenant buildings and three two-level structures available for sec- ond-story office users. Tenants at the 73 percent occupied center include Apricot Lane, Napa River Grill, Wild Eggs, Pure Barre, Bend and Zen Hot Yoga, Chuck & Mike's Tennis Shop, Summer Classics, The Comfy Cow and Boombozz Tap House. Anthony Blanco, Lynn De Marco, Lenard Williams and Mallory Ham of The Shopping Center Group represented the seller in the transaction. MID-AMERICA ARRANGES $15.2 MILLION SALE OF SOUTHTOWN CENTRE IN ST. LOUIS Mid-America Real Estate Corp. has ar- ranged the $15.2 million sale of South- town Centre, an 88,364-square-foot shopping center located in St. Louis. Newport Capital Partners acquired the property on behalf of Newport Capital Partners Fund II. Southtown Centre is comprised of five buildings located in the Tower Grove South neighborhood of St. Louis. Tenants at the center include Wal- greens, PetSmart, OfficeMax, Athletico and Starbucks Coffee. Ben Wineman of Mid-America was the sole broker in the transaction, and represented the seller, a publicly traded REIT. CBRE ARRANGES $15.3 MILLION SALE OF THE TERRACE SHOPPING CENTER IN CALIFORNIA CBRE has arranged the $15.3 million sale of The Terrace, a two-level, 39,634-square- foot shopping center located in Newbury Park, California. Tenants at the fully occu- pied property include Orangetheory Fit- ness, Hot Yoga 1000, Road Runner Sports and Bottle and Pint. Philip Voorhees, Jim- my Slusher, Megan Wood, Matt Burson, Todd Goodman, John Read and Preston Fetrow of CBRE represented the seller, a Los Angeles-based private investor, in the transaction. A Los Angeles-based pri- vate investor partnership acquired The Terrace with funds from a refinance on a long-held multifamily property in the nearby San Fernando Valley. Paseo Verde Plaza, located in the Las Vegas suburb of Henderson, is anchored by Smith's Food and Drug Store. R E TA I L E R U P DAT E DALLAS COWBOYS, LEGENDS HOSPITALITY TO OPEN STADIUM CLUB RESTAURANT AT AT&T; STADIUM The Dallas Cowboys and Legends Hospitality will open the Stadium Club at AT&T; Stadium this fall. The 19,000-square-foot restaurant will be open daily for lunch and dinner, serving as a place for visitors to dine before or after touring the building. The Stadium Club will be located inside the stadium's main entrance next to the Cowboys Pro Shop, and will host up to 650 guests. The space will feature a seamless video wall surrounding each bar, a video wall behind the host stand and 20 flat-screen televisions. Game day dining memberships will be offered at the stadium, and will provide an exclusive, members only, all-inclusive dining experience to season ticket holders and suite holders during Dallas Cowboys home games. CARMIKE CINEMAS TO OPEN NINE- SCREEN MOVIE THEATER AT STONES RIVER MALL IN METRO NASHVILLE Sterling Organization has signed a lease with Carmike Cinemas to open a new nine-screen, 47,000-square-foot Ovation Cinema Grill at Stones River Mall, a 594,588-square-foot enclosed regional mall located in the Nashville suburb of Murfreesboro, Tennessee. The Ovation Cinema Grill, Carmike's full-service cinematic dining concept, will feature seat-side food and beverage service and luxury electronic, high- back recliners with reserved seating. The theater will also feature Carmike's large screen format, BigD. In order to accommodate the new theater, the mall's food court and retail space currently occupied by Books-A-Million will be demolished. Books-A-Million will be relocated into space formerly occupied by Hancock Fabrics. Construction is expected to begin in the first quarter of 2017, with the movie theater set to open that fall. Tenants at Westport Village include Pure Barre and Chuck & Mike's Tennis Shop.