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Alex Tostado

AlabamaInvestment salesNewsRetailers

Joint Venture Sells Shopping Center in Alabama for $27 Million

by Alex Tostado

Huntsville, Ala. — A joint venture between MGold Properties and Mishorim Real Estate Investments has sold University Place, a 169,585-square-foot retail center in Huntsville, for $27 million. University Place was fully leased at the time of the sale to tenants including Cheddar’s Scratch Kitchen, Armed Forces Career Center, Zaxby’s, Panda Express, Red Wing Shoes, Republic Finance, T-Mobile and Subway. The property sits on 17.2 acres at 6125 University Drive along U.S. Highway 72, about six miles west of downtown Huntsville. Kyle Stonis and Pierce Mayson of SRS’ Investment Properties Group …

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DevelopmentGrocery-anchoredNewsVirginia

Lidl to Open 25 East Coast Grocery Stores by Spring 2020

by Alex Tostado

Arlington, Va. — Lidl US plans to open 25 grocery stores on the East Coast by spring 2020. The 25 stores will be located in Virginia, South Carolina, North Carolina, Maryland, New Jersey, Pennsylvania and New York, including the first four in Long Island. Openings for the individual stores were not released. In conjunction with the openings, Lidl US also plans to close two stores in Rockingham and Kinston, North Carolina, this summer. Lidl operates 10,500 grocery stores in 29 countries. Lidl established its U.S. headquarters in Arlington in June 2015.

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Investment salesNewsPennsylvaniaRetailers

JLL Negotiates Sale of 55,000-Square-Foot Retail Building Leased to Whole Foods in Exton, Pennsylvania

by Alex Tostado

Exton, Pa. — JLL has negotiated the sale of a 55,000-square-foot retail property leased to Whole Foods Market in Exton, 50 miles west of Philadelphia. The freestanding building is located at the entrance of the Exton Square Mall near two major thoroughfares, State Route 100 and U.S. Route 30. Austin-based Whole Foods signed a 20-year lease at the property and opened its doors in January 2018. The grocery store also includes a 4,000-square-foot rooftop deck with fire pits for dining. Jim Galbally, Bill Moylan and Colin Behr of JLL handled …

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DevelopmentEntertainmentMaineNews

Cinemark to Open 12-Screen Theater Near Portland, Maine

by Alex Tostado

Westbrook, Maine — Cinemark Holdings Inc. will open a 12-screen venue within the Rock Row mixed-use development in Westbrook, Maine, a western suburb of Portland. The theater, which will be built from the ground up, is scheduled to open in spring 2021. All auditoriums will feature oversized recliners with footrests and cup holders, as well as wall-to-wall screens and enhanced sound systems. Rock Row, a 100-acre development by Waterstone Properties Group, features more than 1 million square feet of commercial and residential space, as well as a beer and food …

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Investment salesNewsRetailersTexas

Marcus & Millichap Arranges Sale of 4,885-Square-Foot Retail Property in Austin Leased to QuikTrip

by Alex Tostado

Austin, Texas — Marcus & Millichap has arranged the sale of a 4,885-square-foot commercial property net-leased to QuikTrip in Austin. Anthony Pucciarello and Vincent Knipp of Marcus & Millichap had the exclusive listing to market the property on a sale-leaseback basis. Derrick Dougherty, also with Marcus & Millichap, represented the buyer, which acquired the property via a 1031 exchange.

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DevelopmentNew MexicoNewsRetailers

Heslin Holdings Completes Redevelopment of West Central Plaza in Albuquerque

by Alex Tostado

Albuquerque, N.M. — Heslin Holdings has completed the redevelopment of West Central Plaza, a retail center located at 4208 Central Ave. SW in Albuquerque. Retailers at the property are now open for business. The company originally acquired the 150,000-square-foot retail center in 2015 with a large, vacant, single-tenant space. The multimillion-dollar renovation included the division of the largest freestanding building at the property, formerly occupied by Kmart, into two anchor tenant spaces now occupied by Burlington and Conn’s Home Plus. Heslin Holdings also added 17,000 square feet of floor space …

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Company newsNew YorkNewsRetailers

Richard Johnson, Charlie Koniver Launch Odyssey Retail Advisors

by Alex Tostado

New York City — Richard Johnson and Charlie Koniver have launched Odyssey Retail Advisors LLC, an expansion and rebranding of Johnson Retail RE Consulting Inc. Johnson and Koniver both previously worked for global luxury group, Kering. Johnson is an attorney and member of the New York State Bar and created Johnson Retail, serving clients such as Crown Acquisitions/Wynn Las Vegas, Boston Seaport, Burberry, Stella McCartney, Sergio Rossi and Clarins. Koniver previously collaborated with Johnson while serving as a real estate specialist for the Americas at Kering. Daniel Lewis has joined Odyssey …

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DevelopmentNewsOhioRetailers

Construction Underway for First Retail Phase of Hamilton Quarter in Columbus

by Alex Tostado

Columbus, Ohio — Casto is underway on construction of the first retail phase of Hamilton Quarter in Columbus. This phase includes a 250,000-square-foot shopping center anchored by Target and Hobby Lobby. Both the 125,000-square-foot Target and the 55,000-square-foot Hobby Lobby are scheduled to open in October. Other planned tenants include Five Below, Aqua Tots Swim School, Beerhead Bar & Eatery, The Nail Boutique, Clean Juice, Sprint and Great Clips. The 40-acre retail site is immediately adjacent to The Ohio State University Wexner Medical Center’s planned medical campus. Hamilton Quarter is …

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Investment salesMarylandNewsRetailers

Continental Realty Acquires Shopping Center in Metro Baltimore for $16.2 Million

by Alex Tostado

Glen Burnie, Md. — Continental Realty Corp. has acquired Governors Commons, a 129,242-square-foot shopping center in Glen Burnie, for $16.2 million. Governors Commons was fully leased at the time of sale to tenants including Gavigan’s Furniture, Pep Boys, Sake Japanese Steakhouse, Goodwill Industries and Dollar Tree. The property is located at 7311 Ritchie Highway, nine miles south of downtown Baltimore. Mathew Adler, Geoffrey Millerd and Chris Huesgen of Newmark Knight Frank (NKF) arranged the transaction. The seller was not disclosed. Joe Donato of NKF arranged acquisition financing.

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CaliforniaInvestment salesNewsRetailers

Capital Rivers Commercial Arranges $11.2 Million Sale of Oakmont Plaza Retail Center in San Francisco Bay Area

by Alex Tostado

Fairfield, Calif. — Capital Rivers Commercial has arranged the sale of Oakmont Plaza, a 105,000-square-foot shopping center in the San Francisco Bay Area community of Fairfield. San Diego-based The Niki Group acquired the property from a Fairfield-based private investor for $11.2 million. FoodMaxx anchors the retail center, which includes a freestanding Chase Bank and O’Reilly Auto Parts in addition to 35,000 square feet of in-line space. Additional tenants include Mountain Mikes Pizza and Check to Cash. Greg Aguirre and Frank Kozlowski of Capital Rivers Commercial represented the seller, while Brandon …

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