Retail
A Return to Fundamentals
Investors are paying closer attention to asset quality and location in today’s shifting retail environment, according to Sands Investment Group Net Lease Advisor Doug Roland.
MetLife Provides $450M for SF Bay Area Retail Asset
Borrowers The Macerich Co. and Northwestern Mutual utilized the 960,000-square-foot Broadway Plaza in Walnut Creek as collateral for the 12-year fixed-rate loan.
NAI Investment Fund Acquires TX Shopping Center
San Marcos Place, which was 80 percent leased at the time of the sale, marks the company’s fifth acquisition this year.
Ocean Bank Provides $60M Loan for Miami Retail Center
Borrower Kendall Village Associates, an entity of Berkowitz Development Group, will utilize the proceeds to refinance the 256,000-square-foot Kendall Village Center mixed-use shopping destination.
Apartment Income Investors Trades Inland Retail Asset
A private investor paid $24 million for the roughly 100,000-square-foot Thomas Winery Plaza in the Inland Empire in an all-cash transaction.
CBRE Arranges Sale of Phoenix Shopping Center
Plaza at Power Marketplace comprises roughly 71,000 square feet and was 93 percent leased at the time of sale. The asset is anchored by LA Fitness and shadow-anchored by Home Depot.
Tampa-Area Retail Sells for $29M
Retail Value Inc. traded the grocery-anchored retail center located in Plant City, Fla. approximately 25 miles from downtown Tampa. HFF arranged the sale on behalf of the seller.
Fairborne Properties Buys The Streets of Brentwood
NKF Capital Markets represented both parties in the sale of a 359,000-square-foot grocery- and theater-anchored retail center in the San Francisco Bay Area.
Brixton Capital Adds Tenants to Las Vegas Shopping Center
The two leases signed at Rainbow Plaza total 32,400 square feet and add a grocery store and a restaurant to the business roster.
Preferred Apartment Communities Snags Orlando Shopping Center
The new owner financed the acquisition of the 117,705-square-foot, Publix-anchored retail asset using a 9.8 million non-recourse first mortgage loan.