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Abby Cox

Elm & Main
ConnecticutFinanceMixed-useNews

Aubuchon Realty Co. Receives $11.5 Million Financing for Mixed-Use Development Center in Westport, Connecticut

by Abby Cox

Westport, Conn. — Aubuchon Realty Co. has received $11.5 million in permanent financing for Elm & Main, a 23,954-square-foot mixed-use office and retail center located in downtown Westport. Henry Schaffer, Hunter Cuthbertson, Chris Angelone and Zach Nitsche of JLL’s Debt Advisory team arranged the fixed-rate loan through a correspondent life insurance company on behalf of the borrower. Originally built in 1963, Elm & Main features 12,010 square feet of ground-floor retail and 11,944 square feet of second-floor office space, along with 28 parking spaces. Additionally, the property will welcome Sephora …

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Castle Shops
Investment salesNewsVirginia

Prudent Growth Acquires 37,309-Square-Foot Castle Shops in Chesapeake, Virginia, for $5.4 Million

by Abby Cox

Chesapeake, Va. — Chapel Hill, North Carolina-based Prudent Growth Partners has acquired Castle Shops, a 37,309-square-foot retail strip center located in Chesapeake, for $5.4 million. Dollar Tree anchors the two-building property, which was fully leased at the time of sale. Additional tenants include CHKD Thrift Store, Boost Mobile and Liberty Tax. Jeff Fritz and Jay O’Donnell of Colliers represented the seller in the transaction. George Fox, also of Colliers, served as the leasing agent.

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Five Below
Company newsDevelopmentNewsOregonWashington

Five Below Debuts in Pacific Northwest with Eight New Stores

by Abby Cox

Philadelphia — Philadelphia-based specialty discount retailer Five Below is debuting its brand in the Pacific Northwest with seven new stores set to open across Washington and one in Oregon on Nov. 7. The new store locations in the region will include Sunrise Village in Puyallup; Celebration Center in Federal Way; Everett Mall in Everett; Evergreen Crossing in Spokane Valley; Valley Mall in Union Gap; Vintner Square in Richland; Alderwood Parkway in Lynnwood; and Cascade Plaza in Beaverton, Oregon. Founded in 2002, Five Below operates more than 1,850 stores in 44 …

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Bella Plant
CaliforniaLeasingNews

Eight New Tenants to Join MainPlace Mall in Santa Ana, California

by Abby Cox

Santa Ana, Calif. — Eight new tenants have signed leases to join MainPlace Mall, a 1.1 million-square-foot, three-story super-regional shopping center located in Santa Ana, roughly 35 miles south of Los Angeles. Bella Plant, Weiman Shoes and Pro Image Sports are already open at the center. Seasonal specialty store Go! Calendars & Games is open until January 31, while the Primrose Market Pop-Up shop will be housed at the center until December 2025. Kabob Co. will open this fall, along with MINISO, which is scheduled to open this month. Mi …

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Chandler Shopping Center portfolio
ArizonaFinanceNews

JLL Arranges $73.3 Million Refinancing for Two Shopping Centers in Suburban Phoenix

by Abby Cox

Chandler, Ariz. — JLL Capital Markets has arranged $73.3 million in permanent financing for two shopping centers totaling 616,639 square feet in the Phoenix suburb of Chandler. The first property, Chandler Festival, spans 354,548 square feet and features a mix of tenants including T.J. Maxx, Ross Dress for Less, Nordstrom Rack and PetSmart. The second property, Chandler Gateway, encompasses 262,091 square feet and is anchored by Walmart and Hobby Lobby. Kevin MacKenzie, Jon Mikula, Jason Carlos, Quin Madden and Tyler Naughten of JLL arranged the five-year, fixed-rate loans on behalf of …

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Amazon facility
Investment salesMontanaNews

Hanley Investment Group Brokers Sale of 52,300-Square-Foot Single-Tenant Property Near Bozeman, Montana

by Abby Cox

Belgrade, Mont. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly constructed, single-tenant property located within the master-planned community of The Foundry in Belgrade, approximately 11 miles northwest of Bozeman. An Amazon facility occupies the 52,300-square-foot building. Eric Wohl and CJ Kiehler of Hanley, in association with locally based Venture West Development LLC, represented the seller. Samer Khalil of Newmark represented the buyer, a New York-based private 1031 exchange investor. The sales price was not disclosed.

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GeorgiaGrocery-anchoredInvestment salesNews

ShopOne, Partners Acquire Stockbridge Lakes Shopping Center in Metro Atlanta

by Abby Cox

Stockbridge, Ga. — A joint venture between ShopOne Centers REIT Inc., Pantheon and an undisclosed global institutional investor have purchased Stockbridge Lakes, a 78,605-square-foot shopping center located in Stockbridge, roughly 20 miles southeast of Atlanta. The seller and sales price were not disclosed, but the Atlanta Business Chronicle reports Marietta, Georgia-based Retail Planning Corp. was the seller. Publix anchors the shopping center, which also houses Burn Boot Camp, Great Clips, Dr. Brown Pediatric Dentistry and Domino’s Pizza. Stockbridge Lakes has approximately 9,000 square feet of available space.

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Investment salesNewsTennessee

CenterSquare Sells 22,268-Square-Foot Brentwood Corners in Suburban Nashville

by Abby Cox

Brentwood, Tenn. — Conshohocken, Pennsylvania-based CenterSquare has sold Brentwood Corners, a 22,268-square-foot retail center located in Brentwood, approximately 11 miles south of downtown Nashville. GBT Realty Corp. purchased the center for $10.4 million, as reported by the Nashville Business Journal. Built in 1988 and renovated in 2023, Brentwood Corners was 100 percent leased at the time of sale to tenants including Serrato’s Steakhouse, Jefferson’s Restaurant, Iron Tribe Fitness and the newly opened 100 Pizza. CenterSquare originally acquired Brentwood Corners in late 2022 at 83 percent occupancy.

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The Shops at Laguna Reserve
CaliforniaGrocery-anchoredInvestment salesNews

Bershon Realty Co. Acquires The Shops at Laguna Reserve in Metro Sacramento for $19.2 Million

by Abby Cox

Elk Grove, Calif. — Los Angeles-based private investment company Bershon Realty Co. LP has acquired The Shops at Laguna Reserve, a 33,308-square-foot shopping center located in Elk Grove, approximately 15 miles south of Sacramento. The purchase price was $19.2 million. The Shops at Laguna Reserve features six pad buildings, along with a Safeway that shadow anchors the property.  Safeway was not included in the transaction. Other tenants at the center — which was fully leased at the time of sale — include Starbucks Coffee, Pacific Dental, Bank of America and Round …

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Baldwin Shopping Center
Investment salesNew JerseyNews

Marcus & Millichap Negotiates $18.5 Million Sale of Baldwin Shopping Center in Northern New Jersey

by Abby Cox

Parsippany, N.J. — Marcus & Millichap has arranged the $18.5 million sale of Baldwin Shopping Center, a 45,135-square-foot retail center located in the Northern New Jersey community of Parsippany, for $18.5 million. Built in 1970 and renovated in 2012, Balwin Shopping Center was fully occupied at the time of sale. Tenants include Walgreens, Concentra, Enterprise Rent-A-Car and State Farm. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer in the transaction. Bill Schlossman of Castle Real Estate Services was the listing agent …

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