Tag Archives: Ryan Schubert

Pioneer Shopping Center_Yuma

Pioneer Shopping Center in Yuma sells for $13.7M

DTZ, a global leader in commercial real estate services, announced the $13.7 million sale of Pioneer Shopping Center in Yuma, AZ, on behalf of the seller, Realty Resolution Advisors, LLC (RRA) of Phoenix. The buyer was Los Angeles-based Pioneer Shopping Center, LLC (dba Kornwasser Shopping Center Properties). Pioneer Shopping Center is located on the southwest corner of the Interstate 8 interchange at Fortuna Road, a highly visible location with monument signage visible from the interstate.

DTZ Executive Managing Directors Ryan Schubert and Michael Hackett and Senior Vice Presidents Dan Salley and Jack Wilson represented RRA in the investment sale. The buyer was represented by Sanford Burstyn with Marcus & Millichap.

“Pioneer Shopping Center is well positioned to allow an investor such as Kornwasser tremendous opportunity to add value,” said Mr. Hackett. “This is the city’s primary business corridor and home to the majority of Yuma’s seasonal resident population, which is estimated to increase by over 45,000 people during the winter months.”

Built in 1997, Pioneer Shopping Center is ±140,610 square feet on 23.6 acres and includes six pads with interstate frontage. The center’s tenant base includes 99 Cents Only, O’Reilly Auto Parts, Applebee’s, Subway, UPS Store and Dairy Queen. The center was 99% economic occupied (87% physical occupied) at the time of sale. The economic occupancy includes a ±29,600 square foot space leased until 2018, but not occupied by Fry’s (Kroger).

vegas

Australian company buys Las Vegas retail center for $23.4m

DTZ, a global leader in commercial real estate services, has announced the $23.4 million sale of Las Palmas Village in Las Vegas on behalf of the seller, Donahue Schriber Realty Group of Costa Mesa, CA.

DTZ Executive Managing Directors Ryan Schubert and Michael Hackett of Phoenix represented Donahue Schriber in the investment sale. The buyer was Australian-based Citywest Investments Joint Venture. The ±106,838 square foot Las Palmas Village is located at 445-525 E. Windmill Lane.

“Las Palmas Village is a solid neighborhood shopping center with daily needs tenants and a strong history of occupancy,” according to Mr. Hackett. “Its location near surrounding master-planned communities and the city’s largest concentration of employment, the Las Vegas Strip, made it an attractive investment opportunity.”

Built in 1997, Las Palmas Village is anchored by one of Las Vegas’s highest performing Vons grocery stores, which occupies ±57,566 square feet. The neighborhood retail center is 99.2% leased, with a substantial list of national tenants including Wells Fargo, Bank of America, Taco Bell, Fantastic Sams, American Family Insurance, The UPS Store, Pizza Hut and H&R Block. Las Palmas is located on 10.8 acres at the corner of Bermuda Road and Windmill Lane, an intersection that has visibility to approximately 72,000 daily vehicles.

Crossroads Aerial_Vegas

DTZ brokers $52M sale of Crossroads Towne Center

DTZ, a global leader in commercial real estate services, has announced that they brokered the $52 million sale of Crossroads Towne Center in North Las Vegas on behalf of the sellers, a company formed by The Eagle Group in Los Angeles. The buyer was a company formed by Cornerstone Advisers of Santa Monica, CA. Built in 2007, Crossroads Towne Center is located at the intersection of I-215 and Decatur Boulevard, part of the Aliante master planned community in North Las Vegas, Nevada.

DTZ Executive Managing Directors Ryan Schubert and Michael Hackett of Phoenix brokered the investment sale.

“Crossroads is anchored by one of the top performing Walmart Supercenters in the state of Nevada,” according to Mr. Hackett. “The North Las Vegas retail market is rebounding nicely with Decatur and 215 one of the premier intersections, providing stability and upside for Cornerstone‚s investment.”

Crossroads Towne Center (6436 and 6512 N. Decatur Blvd.) is a 148,791 square foot neighborhood retail center located on 16.34 acres that services an affluent and dense trade areas in North Las Vegas with a population of nearly 300,000 within five miles of the property. Anchored by Walmart Supercenter (not a part of sale), Crossroads Towne Center has a strong mix of national and regional tenants including Bed Bath and Beyond, Bank of America, Bath and Body Works, Starbucks, GNC, Payless Shoesource and Mattress Firm. The property was 90% occupied at the time of sale.

summit

The Summit at Scottsdale sells for $54.1 Million

DTZ, a global leader in commercial real estate services, has announced that a limited partnership formed by Weingarten Realty Investors of Houston (NYSE: WRI) purchased The Summit at Scottsdale, a Safeway and Target (NAP)-anchored retail center for $54.1 million. Donahue Schriber Realty Group, L.P. of Costa Mesa, Cal. was the seller of the ±190,408 square foot property located on the northeast corner of Scottsdale Road and Ashler Hills Drive in Scottsdale, Ariz.

DTZ Executive Managing Directors Ryan Schubert and Michael Hackett of Phoenix and Dan Wald of San Francisco brokered the all cash investment sale.

“The Summit is a highly coveted asset,” according to Mr. Schubert “Donahue Schriber developed this trophy in North Scottsdale and enjoyed the benefits of their work for 15 years. With the addition of Summit, Weingarten has added to an already impressive portfolio in this submarket”

Developed in 2001, The Summit at Scottsdale is built on 26.2 acres in North Scottsdale. In addition to Target (not a part of sale) and Safeway, the community center’s tenants include CVS, Office Max, PetSmart, Starbuck’s, Bath & Body Works, Verizon Wireless and Chico’s, among others. The Summit was 97% leased, with over 80% of the tenants national retailers, at the time of sale.

Gateway Village

PDI sells Gateway Village to TriGate Capital

Cassidy Turley announced Wednesday that PDSI has sold Gateway Village in Glendale, to TriGate Capital as part of a $53 million sale of a national portfolio of retail properties.

Located at 5932-6070 W. Bell Road in Glendale, the 126,286 square foot shopping center is 80.1% leased to tenants such as Stein Mart, All America Pool & Patio, Cox Communications and Fast Signs. Gateway Village is the largest property in the retail portfolio, which totals 619,151 and also includes shopping centers in Pennsylvania, Georgia, South Carolina and Missouri.

Locally, Cassidy Turley Executive Managing Directors Michael Hackett and Ryan Schubert represented PDSI.

“Glendale is a strong retail market with household demographics and Bell Road traffic counts among the best in the state,” said Hackett. “Gateway Village is a good fit for TriGate’s expanding portfolio of value-add retail assets in the Phoenix metro, and the PDSI portfolio offers strong upside potential in multiple markets.”

Southern Plaza, WEB

California investor buys retail plaza for $11.9M

Cassidy Turley announced that Amargosa Palmdale Investments, LLC of Beverly Hills, Calif., purchased Southern Plaza, a ±75,233 square foot neighborhood shopping center located at 6036 S. 7th Avenue for $11.9 million.

 

Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group represented the seller, Park West Development of Scottsdale, Ariz.

 

“Southern Plaza offered the buyer the opportunity to own a stabilized, high-volume grocery center with the potential to add value through ground leases or development of additional outparcels,” Schubert said. “The Food City performs very well and currently accounts for over 73% of the center’s total square footage.”

 

Built in 2007, Southern Plaza was 95.3% occupied at the time of sale. The property is anchored by a ±55,014 square foot Food City (Bashas’) grocery store and includes ±20,219 square feet of additional shop space and two developable pads. In addition to Food City, Southern Plaza’s tenant mix includes Payless ShoeSource, Grand Mart, Pizza Patron, AA Insurance, Rapido Tax and locally owned operators of a hair salon, nail salon and dentist. Southern Plaza is located in densely populated trade area that services over 102,000 residents within a three mile radius of the center.

Marley Park Plaza

Cassidy Turley reports two retail center sales

Cassidy Turley announced the sale of Marley Park Plaza, a 77,545 square foot, grocery-anchored neighborhood shopping center at 15411 W. Waddell Road in Surprise. IMAN Enterprises, LLC of Surrey BC, Canada, purchased the retail center for $12.45 million from Donahue Schriber Realty Group.

Cassidy Turley Executive Managing Directors Ryan Schubert, Michael Hackett, Dan Wald and Matt Kircher negotiated the transaction on behalf of the seller.

Located on 11.83 acres at the southeast corner of Waddell and Reems Road, the sale included the Basha’s anchored shopping center and an adjacent 2.45 acre developable land parcel. The parcel is currently planned for an additional 16,705 square feet of retail space. In addition to Basha’s, Marley Park Plaza tenants include Subway, H&R Block, Little Caesar’s Pizza, Baskin Robbins and Great Clips. Developed in 2007 by Donahue Schriber Realty Group, the property is located one-half mile east of the Loop 303 with frontage on two primary thoroughfares in Surprise. Marley Park Plaza was 98% leased at the time of sale.

“There was tremendous upside for the buyer with the future development of the adjacent parcel,” Hackett said.

The brokerage firm has also announced that Hayden Crossing Shopping Center, a 63,446 square foot neighborhood retail center at 8015-8035 E. Indian School Road sold for $14 million ($221.38 PSF).

Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group represented the seller Hayden Crossing Shopping Center, LLC. The buyer was a Phoenix investor, 919 Hillsdale, LLC.

Hayden Crossing

Hayden Crossing

“Hayden Crossing is located in a prime infill Scottsdale submarket with a very high barrier of entry by future competition,” Schubert said. “The center includes two quality, net lease tenants, Bashas’ and Walgreens.”

Hayden Crossing is located on six acres at the southeast corner of Hayden and Indian School Roads. The center was built in 2004 specifically for Bashas’ and Walgreens. The neighborhood shopping center services all of downtown Scottsdale, the city’s second largest employment center and a hub for technology and healthcare companies like Yelp and McKesson.

WalmartShopAtLaveen

North Dakota investor purchases Walmart Shops at Laveen Village for $7.15M

Cassidy Turley announced that North Dakota-based Eleven Investments, LLC acquired Walmart Shops at Laveen Village, a neighborhood shopping center along with a developable pad located at 3525 W. Southern Avenue, for $7.15 million ($151.81 PSF). The seller was Washington-based Pacific West Land, LLC.

Executive Managing Directors Ryan Schubert and Michael Hackett with Cassidy Turley’s Retail Capital Markets Group represented the seller.

“Eleven Investments made an opportunistic purchase of this quality asset, which they anticipate adding substantial value to thru lease-up and potential development of the outparcel,” Mr. Hackett said.

Built in 2007, Walmart Shops at Laveen Village is a ±47,098 -square-foot shopping center situated on ±9.64 acres and configured for multi-tenant retail use. The project is anchored by a Walmart Supercenter (NAP) and other national tenants including Church’s Chicken, Sally Beauty Supply and Cricket Wireless. The property has excellent visibility along both Southern Avenue and 35th Avenue in Laveen, an urban village within the City of Phoenix. The Walmart Shops at Laveen Village was 77% occupied at the time of sale.

UnionHills_PressRelease

California investor purchases Union Hills Village for $10.3 Million

Cassidy Turley announced that a company formed by California-based Ethan Christopher acquired Union Hills Village, 18631 N. 19th Avenue, for $10.3 million ($93.47 PSF). The seller was Costa Mesa, CA-based Donahue Schriber Realty Group, L.P.

Executive Managing Directors Ryan Schubert, Michael Hackett, Dan Wald and Matt Kircher with Cassidy Turley’s Retail Capital Markets Group represented the seller.

“Ethan Christopher was able to recognize the potential and stability of Union Hills Village and is excited to add the asset to its outstanding portfolio of neighborhood centers in Arizona,” Mr. Hackett said.

Built in 1987, Union Hills Village is a ±110,188 square foot community center situated on 10.5 acres and is configured for multi-tenant retail use. The project is anchored by Blast Fitness, Dollar General and other national tenants including Dunkin Donuts, Cost Cutters, Nationwide Vision, Subway and UPS Store. The property has excellent visibility along both Union Hills Drive and 19th Avenue in Phoenix. Union Hills Village was 86% occupied at the time of sale.

PrescottGateway, Cassidy Turley

The Shops at Prescott Gateway Sold by Cassidy Turley

Cassidy Turley sold The Shops at Prescott Gateway, a ±34,671 SF shopping center adjacent to Prescott Gateway Mall, on the SWC of Highway 69 and Lee Boulevard in Prescott. Cole Real Estate Investments, Inc. purchased the property for $12.77M from RED Development. Cassidy Turley’s Ryan Schubert and Michael Hackett represented RED Development during the sale transaction.

According to Schubert, “The Shops at Prescott Gateway received tremendous interest from the market as Red Development built another irreplaceable, destination asset. Despite its perceived secondary market location, the property received over a dozen offers.”

Built in 2012, The Shops at Prescott Gateway is a five building retail center anchored by Trader Joe’s with a national and regional tenant base, including Five Guys, Great Clips and Mattress Firm. The center was 93 percent occupied at the time of sale.