Shopping Center Business

DEC 2017

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

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16 • SHOPPING CENTER BUSINESS • December 2017 NEWSLINE HFF ARRANGES SALE OF GROCERY- ANCHORED CENTER IN SOUTHERN CALIFORNIA HFF has arranged the sale of Plaza del Sol, a 165,528-square-foot grocery- anchored center in Burbank, California. Gleb Lvovich and Bryan Ley of HFF represented the seller, Tourmaline Capital, in the transaction. The buyer and sales price were not disclosed. Constructed in 1984, Plaza del Sol served as a Costco until a retrofit in 2005 and 2006 that transformed the project into a retail center with street-facing retail in the front and last mile industrial space in the back. Vallarta Supermarkets anchors Plaza del Sol, which was leased to 23 tenants with food, fitness and last mile distribution uses at the time of sale. STAN JOHNSON CO. ARRANGES $29.5 MILLION SALE OF RETAIL CENTER NEAR DISNEY WORLD Stan Johnson Co. has arranged the $29.5 million sale of the Shoppes at Celebration Place, a 44,095-square-foot retail center in Celebration, Florida, located 3 miles south of Walt Disney World. Joey Odom, Mike Sladich, KB Yabuku and Maggie Holmes of Stan Johnson Co. represented both the seller, Flagler Realty & Development, and the buyer, Ben Hur Investments. At the time of sale, the center was fully leased to tenants including Walgreens, Applebee's, Arby's, Dunkin' Donuts, Chipotle Mexican Grill and Five Guys Burgers & Fries. AVISON YOUNG ARRANGES $23.8 MILLION SALE OF PUBLIX-ANCHORED CENTER NEAR ORLANDO Avison Young has arranged the $23.8 million sale of Good Homes Plaza, a 165,741-square-foot, Publix-anchored center located in Ocoee, 13 miles west of Orlando. John Crotty, Ray Hayhurst, Steve Tanner and Joshua Ladle of Avison Young arranged the transaction on behalf of the seller, IMC Equity Group, and secured the buyer, Slate Retail REIT. Publix anchors Good Homes Plaza, which was 96 percent leased at the time of sale to tenants including Pet Supermarket and Beall's Outlet Store. BALBOA PARTNERS ACQUIRES TWO GROCERY-ANCHORED CENTERS IN SOUTHERN CALIFORNIA Balboa Retail Partners has acquired two grocery-anchored centers in Southern California — Lincoln Center in Santa Monica and Carlsbad Village in Carlsbad. Tom Lagos and Michael Asarch of Colliers International arranged the transaction. Other terms of the deal were not disclosed. Lincoln Center totals 57,630 square feet and is anchored by a Gelson's Market. Smart & Final anchors ON THE MARKET At the time of sale, the Shoppes at Celebration Place in Celebration, Florida, were fully leased to tenants including Walgreens, Dunkin' Donuts, Chipotle Mexican Grill and Five Guys Burgers & Fries.

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