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Abby Cox

The Galleria at Crystal Run
FinanceNew YorkNews

Pyramid Management Obtains $81 Million in Financing for The Galleria at Crystal Run in Middletown, New York

by Abby Cox

Middletown, N.Y. — Pyramid Management Group has obtained $81 million in financing for The Galleria at Crystal Run, a 1.1 million-square-foot regional shopping center located in Middletown, roughly 42 miles north of New York City. Macy’s, JCPenney and Target anchor the property, which offers more than 100 retail shops, six entertainment venues and 10 onsite restaurants including AMC Theaters, Urban Air Adventure Park, Round1 Bowling & Arcade, 110 Grill and Fuji Japanese Steakhouse. The four-year loan will allow Pyramid to continue reinvesting in the property, including plans for a complete store …

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Sprouts Farmers Market
Investment salesNewsTennessee

Hanley Investment Group, CP Partners Facilitate $9.5 Million Sale of Single Tenant Retail Property in Nashville, Tennessee

by Abby Cox

Nashville, Tenn. — A partnership between Hanley Investment Group Real Estate Advisors and CP Partners has facilitated the $9.5 million sale of a newly constructed, single-tenant retail property located in Nashville. Sprouts Farmers Market occupies the 22,988-square-foot building on a triple-net-lease featuring five five-year renewal options. Jeff Lefko and Bill Asher of Hanley Investment, in association with Joe Caccamo and Lea Kuehnhackl of CP Partners and ParaSell, Inc., represented the seller, Greenville, South Carolina-based RealtyLink LLC, in the transaction. Chris Thompson of JRW Realty represented the buyer, a Los Angeles-based …

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Germantown Station
Investment salesNewsTennessee

Cushman & Wakefield Commercial Advisors Arranges Sale of Germantown Station in Tennessee

by Abby Cox

Germantown, Tenn. — Cushman & Wakefield Commercial Advisors has arranged the sale of Germantown Station, a 12,000-square-foot retail center located at 1217-1227 South Germantown Road. Built in 2002, the property is situated on 1.3 acres and was fully leased to tenants including State Farm, Simmons Bank, Alliance Animal Health, Breakaway Running, A&A Nail Spa and Las Tortugas Deli Mexicana at the time of sale. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors represented the seller, Germantown Station LLC, in the transaction. The buyer was Ranjit Komeravelli.

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Buttonwood Plaza
FloridaInvestment salesNews

Atlantic Commercial Group Negotiates $8.4 Million Sale of 60,000-Square-Foot Retail Center in South Florida

by Abby Cox

Greenacres, Fla. — Atlantic Commercial Group has negotiated the $8.4 million sale of Buttonwood Plaza, a 60,000-square-foot retail center located in Greenacres, approximately 12 miles outside West Palm Beach. Built in 1986, the center is situated on 5 acres at the southeast corner of Jog Road and 10th Ave. North. Tenants at the property — which was 97 percent leased at the time of sale — include CiCi’s Pizza, a barber shop and a Chinese restaurant. Gary Broidis of Atlantic Commercial represented the seller in the transaction. The buyer was an …

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Walmart
FloridaInvestment salesNet leaseNews

SRS Real Estate Negotiates $4.5 Million Sale of Walmart-Anchored Property in Metro Orlando

by Abby Cox

Deltona, Fla. — SRS Real Estate Partners has negotiated the $4.5 million ground lease sale of a single-tenant retail property located at 1569 Saxon Blvd. in Deltona. The property is situated 30 miles north of Orlando within the mixed-use development of Deltona Village, which is currently under construction. Walmart occupies the 41,335-square-foot building on an absolute triple-net-lease with 10 years remaining. Patrick Nutt and William Wamble represented the seller, a private partnership, in the transaction. SRS also represented the buyer, a Pennsylvania-based private entity.

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Company newsLeasingMassachusettsNews

PREIT Signs Leases with Five Tenants at Dartmouth Mall in Massachusetts

by Abby Cox

Dartmouth, Mass. — PREIT has signed leases with five new tenants at Dartmouth Mall, a 671,000-square-foot regional mall in Dartmouth. Western and work wear retailer Boot Barn will open a 15,000-square-foot store this fall as its first location in the area. Locker Room by Lids expects to open at the end of the month, while Chick-fil-A plans to open as an outparcel at the property later this year. Cinnabon and Carvel have already opened. These additions follow the redevelopment of the former Sears space, which is now occupied by Ulta Beauty …

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The Crossings at South Fayette
Grocery-anchoredInvestment salesNewsPennsylvania

Niki Group Acquires The Crossings at South Fayette in Suburban Pittsburgh for $10.6 Million

by Abby Cox

Bridgeville, Penn. — San Diego based-The Niki Group has acquired The Crossings at South Fayette, a 38,203-square-foot shopping center located in the Pittsburgh suburb of Bridgeville, for $10.6 million. Situated off Interstate 79 at the intersection of Route 50 and Washington Pike, the property comprises a free-standing ALDI grocery store that anchors the center, as well as two multi-tenant outparcel strips. Tenants include Starbucks Coffee, Chipotle, Sola Salon Studios, Jimmy John’s, Elevation Medical Weight Loss, Brentwood Bank and Radiance at Fluhme. Dean Zang and David Crotts of Marcus & Millichap marketed …

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Kimbal on Main Street
FinanceNewsUtah

Calmwater Capital Provides $22.8 Million Refinancing for Retail Center in Park City, Utah

by Abby Cox

Park City, Utah — El Segundo, California-based Calmwater Capital has provided a $22.8 million bridge loan to refinance Kimball on Main Street, a 25,429-square-foot retail center located within the Historic Old Town area of downtown Park City. Stanton Road Capital was the borrower, while DaJuan Bennett of Calmwater internally represented the firm. Originally built in 1990 and renovated in 2018, the property features seven store fronts, a second-floor event space that serves the Sundance Film Festival and a recently constructed three-story building. Kimball on Main Street is currently 83 percent …

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Safeway at Brandywine Crossing
FinanceGrocery-anchoredMarylandNews

First National Realty Completes Refinancing of 231,036-Square-Foot Power Center in Metro DC

by Abby Cox

Brandywine, Md.  — First National Realty Partners (FNRP) has completed the refinancing of Brandywine Crossing, a 231,036-square-foot regional power center located in Brandywine, approximately 20 miles southeast of Washington, D.C. The four-year loan includes future funding for approved leasing expenses and the facilitation of the release of escrowed funds held by the previous lender. Since acquiring the center in March 2022, FNRP has increased occupancy from 89 percent to 95 percent by securing 12 new leases and six renewals with tenants including Marshalls, Visionworks and Salon Lofts. The firm also secured …

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Walmart
AlabamaInvestment salesNews

Boulder Group Arranges $6.3 Million Sale of Single-Tenant Retail Property in Mobile, Alabama

by Abby Cox

Mobile, Ala. — Chicago-based The Boulder Group has arranged the $6.3 million sale of a single-tenant retail property located at 1550 Government St. in Mobile. ALDI occupies the 42,510-square-foot building on a triple-net lease, which has more than 10 years remaining. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the Canadian-based seller in the transaction. The buyer is a Michigan-based commercial real estate investment company. Other nearby retailers include Walgreens, Dollar Tree, Starbucks Coffee, Sherwin-Williams, Fresenius Kidney Care and Firestone Complete Auto Care.

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