Los Angeles — Unibail-Rodamco-Westfield (URW) has received $925 million in new financing for Westfield Century City, a 1.4 million-square-foot mall located in Los Angeles. The mall, which is fully owned by URW, was 95 percent occupied at the time of financing, which is in the form of a two-year, floating-rate commercial mortgage-backed security (CMBS).
Queen Creek, Ariz. — Sprouts Farmers Market has opened a 50,000-square-foot store at Vineyard Towne Center, a 23-acre retail development currently underway by Vestar in the Phoenix suburb of Queen Creek. Sprouts is the anchor tenant of Phase I of the project. A 145,000-square-foot Target will open in April 2025 and anchor the development’s Phase II. Other tenants at Phase I, which is currently 90 percent leased, include Chunk Cookies, Cinnaholic, Dentists of Queen Creek, European Wax Center, MOD Pizza, Mountain America Credit Union, Mr. Pickles, Nekter Juice Bar, Ono Hawaiin …
Pigeon Forge, Tenn. — BrightColors LLC And partner Kingsmen Xperience Inc. have announced plans with Crayola to open a 30,000-square-foot Crayola Experience in Pigeon Forge. Upon completion, the indoor family entertainment center will feature 20 attractions and a retail store. The Pigeon Forge location marks the sixth attraction for the brand, which has opened others in Pennsylvania, Florida, Minnesota, Texas and Arizona. Four additional Crayola Experience locations will open over the next five years, the locations of which were not disclosed.
Bellevue, Wash. — Arepa Venezuelan Kitchen will open a 1,010-square-foot restaurant in Bellevue, roughly 10 miles outside Seattle. Situated within The Marketplace at Factoria, the restaurant is scheduled to open this September and will offer Venezuelan and Caribbean food in a fast-casual space. An affiliate of Kimco Realty Corp. manages the property.
Boca Raton, Fla. — Cushman & Wakefield has arranged the sale of Shadowwood Square, a 237,498-square-foot shopping center located in Boca Raton. Constructed in 1982, the property is anchored by Sprouts Farmers Market, Walgreens and Old Navy. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an entity controlled by Evelyn Langlieb Greer doing business as Shadowwood Square Ltd. An affiliate of Edens acquired the property.
Chambersburg, Pa. — Namdar Realty Group and the Franklin County Area Development Corp. (FCADC) have announced plans for the redevelopment of Chambersburg Mall, a 127-acre property located in Chambersburg. Plans include the development of a mixed-use property at the site. “The focus remains on creating a vibrant and versatile development that caters to the evolving needs of the community,” says Dan Dilmanian, chief operating officer of Namdar, which has engaged with the FCADC for seven years to explore possibilities for the redevelopment.
Port St. Lucie, Fla. — PEBB Enterprises and Banyan Development have started construction on the Shoppes @ the Heart of Tradition, a 71,000-square-foot retail project situated within the master-planned Tradition community in Port St. Lucie. A 19,231-square-foot Aldi will anchor the development, which is scheduled for completion next summer, when tenant buildouts will begin. Other tenants will include Kyle G’s Amore Chop House, Port Tradition, Tomalty Dental, Le Bistro de Paris, Picasso Nails and Rita’s Ice.
Clay, N.Y. —Hart Lyman Co. has purchased Great Northern Mall, a shuttered retail and dining development located in Clay, for $9 million. The new ownership plans to redevelop the 120-acre property into a mixed-use destination. Britt Raymond and Kyle Fant of SRS Real Estate Partners represented the seller, New York-based Kohan Retail, in the transaction. The duo also procured Hart Lyman as the buyer.
Miami — Marcus & Millichap has brokered the $6.9 million sale of a single-tenant property located in Miami. Walgreens occupies the building on a net-lease basis. Jonathan De La Rosa and Eduard Toledo of Marcus & Millichap’s Miami office represented the undisclosed buyer in the transaction.
Batavia, Ill. and Jacksonville, Fla. — German discount grocer Aldi has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Jacksonville-based parent company Southeastern Grocers to various entities. Financial terms of the transaction were not disclosed. The Southeast-focused acquisition includes approximately 400 Winn-Dixie and Harveys locations across Alabama, Florida, Georgia, Louisiana and Mississippi. Aldi, which maintains its U.S. headquarters in Batavia, Illinois, first established its presence in the Southeast in the mid-1990s and has since invested $2.5 billion in the region. Most …
