Author

Abby Cox

Derby Shopping Center
ConnecticutInvestment salesNews

IPA Negotiates $15.4 Million Sale of Derby Shopping Center in Connecticut

by Abby Cox

Derby, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $15.4 million sale of Derby Shopping Center, a 170,683-square-foot shopping center located in Derby, eight miles west of New Haven. Built in phases from 1985 to 2023, Derby Shopping Center is home to a mix of tenants including Splash Car Wash, Webster Bank, Dunkin and Lowe’s Home Improvement, which occupies 90 percent of the property’s total square footage. Jim Koury of IPA and Henry McKenney of Marcus & Millichap represented the seller and procured …

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Mulberry-Village
GeorgiaGrocery-anchoredInvestment salesNews

Essential Growth Properties Acquires Publix-Anchored Shopping Center in Mulberry, Georgia, for $13.4 Million

by Abby Cox

Mulberry, Ga. — Essential Growth Properties has acquired Mulberry Village, a 75,200-square-foot grocery-anchored center located in Mulberry, approximately 50 miles northeast of Atlanta, for $13.5 million. Built in 2008 on about 17 acres, Mulberry Village is anchored by a newly renovated Publix. Additional tenants at the center, which was 94 percent occupied at the time of sale, include Taco Bell, Maria’s Tex Mex, State Farm, Capital Nails, Spice Wing and Peking Chinese. The property also features four undeveloped outparcels for future use. Jim Hamilton, Brad Buchanan, Andrew Michols and Charlie …

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Shoppes at College Hills
IllinoisInvestment salesNews

Mid-America Arranges Sale of 144,555-Square-Foot Retail Center in Central Illinois

by Abby Cox

Normal, Ill. — Mid-America Real Estate Corp. has arranged the sale of Shoppes at College Hills, a 144,555-square-foot lifestyle center located in the college town of Normal. Hobby Lobby anchors the center, which was 96 percent leased at the time of sale. Additional tenants include J.Crew Factory, Starbucks, JD Sports, Maurices, Buckle, Comcast, Dry Goods, Charles Schwab, Massage Envy, J. Jill, Bath & Body Works, Chico’s, Soma, WHBM and Crumbl Cookies. Ben Wineman of Mid-America represented the seller, a joint venture between M&J Wilkow and ALTO Real Estate Funds, in the …

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EVO Entertainment
DevelopmentEntertainmentNewsTexas

EVO Entertainment Breaks Ground on 82,000-Square-Foot Venue in Metro Dallas

by Abby Cox

Forney, Texas — EVO Entertainment has broken ground on an 82,000-square-foot entertainment venue in Forney, approximately 20 miles east of Dallas. The new venue, which is scheduled to open this fall, will feature nine theaters, a full-service bar and restaurant, event and conference spaces, as well as an upper-level lounge area. Guests can also expect 22 bowling lanes, more than 125 arcade games, rock climbing walls, a multi-level ropes course, bumper cars and laser tag. The entertainment venue is part of The Village at Gateway, a 120-acre mixed-use development that …

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CaliforniaDevelopmentGrocery-anchoredInvestment salesNews

Renovation of Heritage Square Opens in Irvine, California

by Abby Cox

Irvine, Calif. — Construction has been completed on the renovation of Heritage Square, an 85,000-square-foot grocery anchored shopping center located in Irvine. The project, designed by Nadel Architects, consisted of a full aesthetic refresh of the center, which was originally built in 1984. Additional improvements included the repositioning of two existing shop buildings, the demolition of two outdated structures and the redevelopment of a new 28,000-square-foot retail market building. The center is managed by Meadows Asset Management. Situated adjacent to the 233,000-square-foot Heritage Plaza shopping center, Heritage Square is home to …

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Amazon
DevelopmentIllinoisNews

Amazon Plans to Open First-of-its-Kind Retail Store in Metro Chicago Totaling 230,000 Square Feet

by Abby Cox

Orland Park, Ill. — Amazon has unveiled plans to open a first-of-its-kind retail store in the southern Chicago suburb of Orland Park. The planned brick-and-mortar store will occupy the long-vacant site of the former Petey’s II restaurant at the southwest corner of 159th Street and LaGrange Road. The Orland Park Village Board approved the project at its Jan. 19 meeting. Amazon’s plans call for a one-story building of approximately 230,000 square feet that will offer groceries, household essentials and general merchandise. The store would function similarly to a large-format retailer …

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landstown-commons
Investment salesNewsVirginia

Berkeley Capital Advisors Arranges $102 Million Sale of Landstown Commons in Virginia Beach, Virginia

by Abby Cox

Virginia Beach, Va. — Berkeley Capital Advisors has arranged the $102 million sale of Landstown Commons Shopping Center, a 408,851-square-foot super-regional power center located in Virginia Beach. Kohl’s, Ross Dress for Less, Best Buy, Old Navy and Ulta Beauty anchor the center. Other tenants include Bath & Body Works, Carter’s, Burlington, Five Below, Dollar Tree and PetSmart. Moritt Hock & Hamroff represented the buyer, an affiliate of Yale Realty Services. Rob Carter of Berkeley Capital Advisors represented the seller, Acadia Realty Trust. The Bank of Montreal provided $73.4 million in …

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gateway-shopping-center
CaliforniaInvestment salesNews

DJM Sells Gateway Shopping Center in Mission Viejo, California, for $51 Million

by Abby Cox

Mission Viejo, Calif. — Orange County-based DJM has sold Gateway Shopping Center, a 79,001-square-foot shopping center located in Mission Viejo. An institutional buyer purchased the property for $51 million. JLL represented DJM in the all-cash transaction. Completed in 1979 on 7.4 acres, Gateway Shopping Center features a mix of tenants including Starbucks, Baja Fresh, Saddleback Family & Urgent Care and Chase, among others. The center was 97 percent leased at the time of sale. DJM acquired Gateway Center in December 2021 from Gerrity Group for $39.5 million. Following the acquisition, DJM …

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Western-Plaza
CaliforniaInvestment salesNews

West Hive Capital Sells Western Plaza in Southern California for $24.5 Million

by Abby Cox

Rancho Palos Verdes, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $24.5 million sale of Western Plaza, a 28,190-square-foot neighborhood center located in Rancho Palos Verdes. Jeff Lefko of Hanley Investment Group represented the seller, West Hive Capital, in the transaction. Sheila Alimadadian of Marcus & Millichap represented the buyer, Aria Investments. After acquiring Western Plaza in 2024 for $8 million, West Hive Capital completed a full-scale redevelopment of the property. Renovations featured a complete exterior façade modernization, upgraded building systems, parking lot enhancements, an improved tenant mix …

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H-Mart
CaliforniaDevelopmentGrocery-anchoredNews

Vestar Signs New Anchor Tenant at Pacific Commons Shopping Center in Fremont, California

by Abby Cox

Fremont, Calif. — Asian supermarket chain H Mart will open a 100,000-square-foot flagship store at Pacific Commons Shopping Center, a 1.1 million-square-foot super-regional power center located on the southeastern shore of San Francisco Bay in Fremont. The new store will introduce H Mart’s multi-level prototype, which will include a food hall with fast-casual eateries, full-service dine-in restaurants, a bar and entertainment offerings. Construction on the development is expected to begin in late 2026. Owned by Heitman and managed by Vestar, Pacific Commons Shopping Center is home to more than 55 …

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