Author

Abby Cox

jerry-france
FeaturesFrom The Magazine

Leading The Way

by Abby Cox

SCB Publisher Jerry France reflects on his 60-plus years in the industry, and the launch of Shopping Center Business, in conversation with the magazine’s editor. Interview by Randall Shearin: In celebration of Shopping Center Business’s 30th anniversary, I sat down with Jerry France, the publisher of the magazine and chairman and CEO of our parent company, France Media. Since Jerry has been my boss for the past 30 years, I have heard — and lived through — many of his stories and wanted to take the opportunity to get some …

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OC-VIBE
FeaturesFrom The Magazine

The Common Thread in Retail’s Top-Performing Projects

by Abby Cox

As tenants grow more selective, demand is concentrating into environments that align design, operations and tenant mix around how people actually spend time. Take a look around most areas of the country, and it’s obvious to see that retail demand hasn’t disappeared. What it is doing, however, is showing up in fewer places. Tenants are increasingly gravitating to a certain pattern of projects. If you’re one of the lucky ones to possess said projects, leasing activity will likely remain robust, occupancy may stay consistent and reliable traffic will be generated. …

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The-Meridian
Grocery-anchoredInvestment salesNewsPennsylvania

TPG-Led Investor Group Acquires Shopping Center Owner ECHO Realty in $2 Billion Deal

by Abby Cox

Pittsburgh — TPG Real Estate has acquired ECHO Realty, a full-service owner and operator of grocery-anchored retail real estate, in a transaction valued at $2 billion. TPG, a global asset management firm based in San Fransisco, partnered with global investment groups PSP Investments, La Caisse and Norges Bank Investment Management for the transaction. “Our more than two decades of building and operating neighborhood, necessity-based shopping destinations demonstrate the enduring demand for grocery-anchored retail close to home,” says Thomas Karet, founder and CEO of ECHO. “With TPG’s investment and business-building expertise, …

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DevelopmentMixed-useNewsTexas

Dallas Stars Plan New Arena, Mixed-Use Entertainment District in Plano

by Abby Cox

Plano, Texas — The Dallas Stars are planning to open a new hockey arena and mixed-use entertainment district at The Shops at Willow Bend in Plano. The team announced on June 2 that it had signed a nonbinding letter of intent (LOI), inclusive of design and construction plans for the arena and surrounding district, which could include sports-themed retail, restaurant and entertainment uses, as well as public gathering and event spaces. The announcement comes roughly 24 hours after the NBA’s Dallas Mavericks similarly unveiled plans to move on from American …

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FloridaGrocery-anchoredInvestment salesNews

Marcus & Millichap Brokers $9.6 Million Sale of Grocery-Anchored Shopping Center in Metro Tampa

by Abby Cox

Seffner, Fla. — Marcus & Millichap has brokered the $9.6 million sale of North Grove Center, a 69,757-square-foot retail center located in Seffner, approximately 15miles east of downtown Tampa. Drew Kristol and Kirk Olson of Marcus & Millichap marketed the property on behalf of the seller, a Florida-based private investment group, in the transaction. Discount grocery chain Save A Lot anchors North Grove Center, which features a mix of additional tenants such as Planet Fitness, Dollar Tree and Ace Hardware, along with various local shops, restaurants and service-oriented retailers. Recent …

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Venetia-Village
FloridaGrocery-anchoredInvestment salesNews

Cleeman Realty Group Negotiates $9.1 Million Sale of Venetia Village in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — Cleeman Realty Group has negotiated the $9.1 million sale of Venetia Village, a 93,925-square-foot shopping center located in Jacksonville. The center is situated on about 10 acres and has been owned and operated by the same family for more than 40 years. Winn-Dixie anchors the property, which features additional tenants such as Dollar General, Anytime Fitness and Dunkin’ Donuts. The new ownership plans to modernize the property and enhance the overall tenant mix. Michael Cleeman of Cleeman Realty Group represented the buyer, an entity doing business as Gator …

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Midland-Commons
Investment salesNewsRhode Island

Atlantic Capital Partners Arranges $20.5 Million Sale of Midland Commons Power Center in Metro Providence

by Abby Cox

Warwick, R.I. — Atlantic Capital Partners has arranged the $20.5 million sale of Midland Commons, a 160,448-square-foot power center located in Warwick, approximately 12 miles north of Providence. Situated on roughly 23 acres, the center is anchored by Dick’s Sporting Goods, Burlington and Planet Fitness. Justin Smith, Chris Peterson, Sam Koonce, Danielle Turpin, Stephen Joseph, Stephen Hassenflu and Matt Ericson of Atlantic Capital Partners represented the seller and the buyer in the transaction. An alternative asset manager provided a $15 million non-recourse acquisition loan on behalf of the borrower, Montreal-based Brasswater. …

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Rock-River-Plaza
FinanceIllinoisNews

Gantry Secures $12 Million in Refinancing of Shopping Center in Northwestern Illinois

by Abby Cox

Moline, Ill. — Gantry has secured a $12 million permanent loan to refinance maturing debt for Rock River Plaza, a 389,375-square-foot power center located in the northwestern Illinois city of Moline along the Mississippi River. Walmart and Lowe’s anchor the center, which features additional tenants such as Marshalls, Five Guys, Chick-fil-A, Applebee’s and AT&T. Joe Monteleone and Rulin Dai of Gantry represented the borrower, a private real estate investor. A CMBS lender provided the five-year, fixed-rate loan, which features interest-only payments for the full term.  

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8781-Cuyamaca-St-9822-Buena-Vista-Ave-Santee-CA
CaliforniaInvestment salesNews

CBRE Arranges $3.7 Million Sale of Multi-Tenant Retail Property in Southern California

by Abby Cox

Santee, Calif. — CBRE has arranged the sale of a multi-tenant retail building located at 8781 Cuyamaca St. and 9822 Buena Vista Ave. in the Southern California city of Santee, roughly 18 miles northeast of downtown San Diego. Affiliates of Calgary Development sold the property to Burggraf Family Trust for $3.7 million. Situated on 1.1 acres, the property features 16,390 square feet of retail space and was 90 percent leased at the time of sale. Reg Kobzi, Michael Peterson and Lane Robertson of CBRE represented the seller, while William Strocco Jr. …

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Savona-Mill_Charlotte
DevelopmentMixed-useNewsNorth Carolina

Portman to Bring 30,000-Square-Foot Food Hall to Savona Mill Redevelopment in Charlotte, North Carolina

by Abby Cox

Charlotte, N.C. — Portman has announced plans for Savona Food Works, a 30,000-square-foot food hall that will anchor the company’s Savona Mill adaptive reuse project in Charlotte’s West End district. Veteran food hall operator Robert Montwaid will lead the dining installation, which will offer 25 food stalls, a full-service restaurant and bar, coffee shop, flower market and rooftop bar. Montwaid’s previous ventures include leading Gansevoort Market in New York City’s Meatpacking District and Chattahoochee Food Works in Atlanta’s West Midtown neighborhood. Savona Food Works will be situated in the “Weave building,” …

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