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Abby Cox

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DevelopmentGrocery-anchoredInvestment salesMixed-useNewsVirginia

SLN Brokers $16 Million Sale of Development Parcel in Midlothian, Virginia

by Abby Cox

Midlothian, Va. — S.L. Nusbaum Realty Co. (SLN) has brokered the $16 million sale of a 13-acre development parcel located in Midlothian, roughly 14 miles outside Richmond. Larry Agnew and Andrew Thacker of SLN represented the buyer, SJC Ventures, in the transaction. SJC Ventures plans to develop Midlothian Depot, a mixed-use project, at the site. Upon completion, the development will feature a specialty grocer, retail and restaurant space, residential units, multi-modal pathways, green spaces and a dog park. Site work will begin in fall 2025, with vertical construction scheduled to …

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ArizonaGrocery-anchoredInvestment salesNews

Flying Horse Investments Acquires 53,630-Square-Foot Retail Center in Metro Phoenix

by Abby Cox

Mesa, Ariz. — Flying Horse Investments (FHI) has acquired Fiesta Palms Shopping Center, a 56,630-square-foot retail center located in Mesa, roughly 20 miles outside Phoenix. A specialty grocer anchors the property, which was 83 percent leased at the time of sale. 1st Century Bank, a division of MidFirst Bank, provided acquisition financing, and Justin Weissman of 1st Century Bank arranged the bridge loan on behalf of the buyer. A local family was the seller. FHI plans to collaborate with Pegasus Capital Markets to secure permanent financing for the property.

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Food-Hive
Company newsLeasingMassachusettsNews

Sodexo to Open 100 Food Hive Stores at College Campuses

by Abby Cox

Bethesda, Mass. — Food services provider Sodexo has announced plans to have roughly 100 Food Hive stores open at colleges and universities throughout the U.S. by 2026. Sodexo is currently underway on its previously announced plans to open approximately 30 campus stores during the 2024-2025 academic year. The Food Hive concept is designed as a cashless convenience store, with a focus on products from local, minority and women-owned businesses. Universities and colleges with open or planned Hive stores include Morehouse College, University of Illinois Chicago, Northern Arizona University, Texas Christian …

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CaliforniaInvestment salesNewsRestaurants

Progressive Arranges $2.5 Million Sale of Restaurant Building in Montclair, California

by Abby Cox

Montclair, Calif. — Progressive Real Estate Partners has arranged the $2.5 million sale of a restaurant building located in Montclair, roughly 35 miles east of downtown Los Angeles. Built in 1981, the 6,200-square-foot property was previously occupied by Red Lobster, which closed in 2024. The building is situated on an outparcel of Montclair Place, a 1.2 million-square-foot shopping center. Paul Galmarini of Progressive and Jereme Snyder of Colliers represented the seller, a private investor, in the transaction. Cristina Hsiech of SVN represented the undisclosed local buyer, which plans to renovate …

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