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Hayden Spiess

Buc-ee's_Mt-Crawford-Va
DevelopmentNewsVirginia

Buc-ee’s to Develop 75,000-Square-Foot Super Center in Virginia

by Hayden Spiess

Mt. Crawford, Va. — An entity doing business as Buc-ee’s Mt. Crawford LLC has purchased 21.3 acres located on Frieden’s Church Road in Mt. Crawford for the development of a Buc-ee’s Super Center at the site. Nathan Shor and Larry Agnew represented the buyer in the $6.6 million transaction. Upon completion, the property will feature 75,000 square feet of retail space, as well as 120 fueling positions, electric vehicle chargers and parking for more than 650 cars. This will mark the second location in the state for the brand. 

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CaliforniaCompany newsMinnesotaNew YorkNewsOregonWashington

Target to Close Nine Stores Across Four States

by Hayden Spiess

Minneapolis — The Target Corp. has announced plans to close nine stores in four states. Scheduled to close Oct. 21, the stores are located in New York City; Seattle; Portland, Oregon; San Francisco; and Oakland, California. In a statement, the brand attributed the closures to the fact that “theft and organized retail crime are threatening the safety of [its] team and guests and contributing to unsustainable business performance.” 

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Investment salesMichiganNews

Marcus & Millichap Brokers $4.6 Million Sale of Two-Tenant Retail Property in Metro Detroit

by Hayden Spiess

Woodhaven, Mich. — Marcus & Millichap has brokered the $4.6 million sale of a two-tenant retail property in Woodhaven, a southern suburb of Detroit. Office Depot and Five Below occupy the property. Ashish Vakhariya, Seth Haron and Darin Gross of Marcus & Millichap represented the undisclosed seller. Dylan Wolf and Clayton Brown of Marcus & Millichap represented the cash buyer, which completed a 1031 exchange.

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Lowes-Foods_Pittsboro-N-C
Grocery-anchoredLeasingNewsNorth Carolina

Five New Tenants Join Northwood Landing in Metro Raleigh, North Carolina

by Hayden Spiess

Pittsboro, N.C. — Five new tenants have joined the lineup at Northwood Landing, a 62,000-square-foot retail center recently developed in Pittsboro, roughly 35 miles east of Raleigh. Dunkin’ Donuts will occupy a 2,100-square-foot building, and FirstHealth of the Carolinas will open a 4,849-square-foot clinic at the property. Vet Pets and Zaxby’s will join the center as well, leasing 2,750 and 3,162 square feet, respectively. Hubie’s Express Car Wash will also open at the property in the fourth quarter of this year. A 44,000-square-foot Lowes Foods anchors the center, which comprises multiple …

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Ocean-Walk_Singer-Island
FloridaInvestment salesNews

Pebb Capital Sells Retail Center in Florida for $19.2 Million

by Hayden Spiess

Singer Island, Fla. — Pebb Capital has sold Ocean Walk, a 65,908-square-foot shopping center located in Singer Island, for $19.2 million. Pebb purchased the center in 2017 for nearly $7.6 million, at which time the center was 53 percent leased. The property is now fully leased to tenants including Wings Beachwear, 7-Eleven, Mulligan’s Beach House and Johnny Longboats. Situated on 10.5 acres, Ocean Walk features 492 surface parking spaces, four retail structures and 873 feet of unobstructed oceanfront space. Danny Finkle, Jorge Portela, Eric Williams and Kim Flores of JLL represented …

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Investment salesNewsTexas

CBRE Arranges Sale of 91,856-Square-Foot Shopping Center in Arlington, Texas

by Hayden Spiess

Arlington, Texas — CBRE has arranged the sale of Cooper Street Plaza, a 91,856-square-foot shopping center in Arlington. The center was 97.5 percent leased at the time of sale. K&G Mens Co. and Office Max anchor the property. Other tenants include Black Rifle Coffee, UPS, State Farm Insurance and Ninja Sushi. Jared Aubrey and Michael Austry of CBRE represented the seller, an undisclosed Texas-based REIT, in the transaction. The buyer was Vista Property Co.

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Durango-Town-Center-Durango-CO
ColoradoInvestment salesNews

Armstrong Capital Acquires Durango Town Center in Colorado for $14.5 Million

by Hayden Spiess

Durango, Colo. — Armstrong Capital Development has purchased Durango Town Center, a shopping center located in Durango. A local private investor sold the asset for $14.5 million. Durango Town Center was 98 percent leased to 20 tenants at the time of sale. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller in the transaction, and Bowlby procured the buyer. 

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T-Squared_New-York-City
DevelopmentEntertainmentLeasingNew YorkNews

Tiger Woods, Justin Timberlake Open 22,000-Square-Foot Eatertainment Concept in New York City

by Hayden Spiess

New York City — Tiger Woods and Justin Timberlake, in partnership with NEXUS Luxury Collection and 8AM Golf, have opened a 22,000-square-foot sports and entertainment bar between Bryant Park and Grand Central Station in New York City. Dubbed T-Squared Social, the venue offers Full Swing golf simulators, duckpin bowling, darts and more than 35 televisions for sports-watching, as well as food and beverages. ForrestPerkins designed the space, which features 24-foot open ceilings, a 32-foot bar, dining and lounge areas and a private event room. 

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1055-1095-Tully-Rd-San-Jose-CA
CaliforniaFinanceNews

Marcus & Millichap Arranges $3.8 Million Refinancing for Retail Property in San Jose, California

by Hayden Spiess

San Jose, Calif. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.8 million loan for the refinancing of Tully Commercial Center, a property featuring 15 freestanding retail spaces in San Jose. Current tenants include Little Caesars, Hawaiian BBQ, a hair and nail salon, and a dry cleaner. David Campbell of Marcus & Millichap secured the financing, which features a seven-year term and 25-year amortization.

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Larkin's-Corner_Boothwyn-Pa
Grocery-anchoredInvestment salesNewsPennsylvania

JLL Brokers Sale of 225,214-Square-Foot Retail Center in Pennsylvania

by Hayden Spiess

Boothwyn, Pa. — JLL Capital Markets has brokered the sale of Larkin’s Corner, a 225,214-square-foot retail center located in Boothwyn. Acme Grocery anchors the property, which was 99 percent leased at the time of sale. Other tenants at the center include McDonald’s, TD Bank and Dollar Tree. Chris Munley, Jim Galbally, Colin Behr, James Graf and Patrick Higgins of JLL represented the seller, Site Centers, in the transaction. 

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