Investing

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Starbucks ground lease located at 103 Mitchell Drive in Hendersonville, NC for $2,250,000.

CBRE Executive Vice President Philip D. Voorhees announced today that he, Jimmy Slusher and their National Retail Investment Group – West (NRIG-West) team completed the sale of the Shops at Stonecreek Plaza, a 52,171-square-foot strip center in the city of Los Banos, Calif., leased to a synergistic mix of regional and local tenants including Petco, Famous Footwear, Dollar Tree, GNC, Metro PCS, Wingstop and a drive-thru Starbucks. The sale price was $12 million, representing a 7.1% cap rate

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, in conjunction with Voit Real Estate Services, announced today that the two firms completed the sale of a single-tenant net-leased coastal property occupied by Petco at 537 North Pacific Coast Highway in Redondo Beach, Calif. The sales price of $7,630,000 represented a cap rate of 4.5%, a record low cap rate for a single-tenant Petco in Los Angeles County.

International award-winning KTGY Architecture + Planning announced today that it has been selected by Orange County-based Civic Partners as the designer of Artisan Alley at The Diamond, a unique retail development located in western Riverside County in the City of Lake Elsinore, Calif. Conveniently located across the street from the Lake Elsinore Diamond Stadium, the proposed retail development will bring a creative, commercial destination, which is sure to energize the neighboring area. Capitalizing on the craft brew craze, Artisan Alley will offer a variety of craft breweries as well as complementary non-traditional food offerings and retailers.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Applebee’s Neighborhood Grill & Bar (Applebee’s) property located at 811 S. Irby Street in Florence, SC for $2,050,000. The City of Florence is the largest city in Northeastern South Carolina and was recently named among America’s top fifty cities for business relocation and expansion by Expansion Management Magazine.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant American Mattress located at 751 East Lincoln Highway in New Lenox, IL for $1,545,000. The 4,000 square foot American Mattress building was constructed in 2015 and is located along East Lincoln Highway, the primary east-west thoroughfare in the trade area that connects the property to Interstate 80.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant LabCorp office property located at 150 Spring Lake Drive in Itasca, IL for $6,250,000. Itasca is located in the Chicago MSA west of the Chicago O’Hare International Airport.

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Executive Vice President Eric Wohl negotiated the sale of 51st & Southern, a 15,498-square-foot multi-tenant retail property in the Phoenix metro area. The purchase price was $2,325,000.

Global real estate investment company Kennedy Wilson represented both the buyer and seller in the $16 million sale of a prime, mixed-use complex located at the corner of 11th Street and Wilshire Boulevard in the heart of Santa Monica. The approximately 23,500-square foot, retail and multifamily property was purchased by 11th and Wilshire, LLC. The seller was Paragon Properties.

Plans were announced today for Pinewood Forrest, an innovative mixed-use community located in Fayetteville, Georgia. Envisioned as a community themed and centered around storytellers, the creative and the-creative-at-heart, Pinewood Forrest will go beyond traditional live-work-play plans to become Atlanta’s first Live-Create-Play community. Rising adjacent to Pinewood Atlanta Studios, Pinewood Forrest is designed to inspire and celebrate creativity, and to help people live their best lives.

ROEM Corporation announced today the opening of its Oak Grove Apartments, a $34 million development in San Jose providing 134 units of permanently affordable housing to low-income families earning at or below 60 percent of the Santa Clara County area median income.

LBG Real Estate Companies, LLC (“LBG”), a Southern California-based investor in retail real estate, announced that plans have been finalized for the redevelopment of Medford Center, a 420,000-square-foot regional entertainment and lifestyle shopping center in Medford, Oregon, which serves Medford, Grants Pass and Ashland area residents as well as the Rogue Valley’s 3.2 million annual visitors. LBG plans to invest over $12 million to create more than 30,000 square feet of experiential retail and restaurant space for a variety of culinary offerings including brewery and wine-based concepts, complemented by the highly successful Cinemark Tinseltown Theater and other retailers in the already 90% occupied Medford Center

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm completed the sale of a 9,167-square-foot multi-tenant retail pad building, which is part of a neighborhood shopping center anchored by Smart & Final Extra! in Upland, Calif. The sale price of $3.9 million, with a cap rate of 5.48%, represented a record low cap rate for a multi-tenant pad over $3.5 million in the trade area.

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease QSR Marke

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that Senior Vice President Jeremy McChesney completed the sale of three 7-Eleven stores, two in Los Angeles County and the other in Orlando, Florida. One of the transactions had a record breaking cap rate of 3.56% for 2016 and $1,823 per square foot. McChesney has sold 15 7-Elevens in the last 16 months, the most 7-Elevens sold by one individual in the U.S. during this perio

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Dollar General portfolio consisting of two properties located in Missouri for $2,625,000.

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a three-tenant net leased center located at 253 South Weber Road in Romeoville, IL for $4,200,000. Romeoville is located within the Chicago MSA

Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that President Ed Hanley and Executive Vice President Bill Asher completed the sale of a Starbucks-anchored multi-tenant pad building located at the Stater Bros. Plaza in Chino, Calif. The sale price of $3,153,000, represented an all-time record low cap rate of 4.37% and record high price per square foot of $808 for a multi-tenant retail building in San Bernardino County since 2006, according to CoStar.