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Hayden Spiess

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DevelopmentGeorgiaGrocery-anchoredMixed-useNews

SJC Ventures Tops Out Second Phase of $750 Million Interlock Mixed-Use Development in Atlanta

by Hayden Spiess

Atlanta — SJC Ventures has topped out the second phase of The Interlock, a $750 million mixed-use project located in Atlanta’s West Midtown district. The second phase, built by Choate Construction and anchored by a 42,000-square-foot Publix, features 275,000 square feet of commercial space and 670 units of student housing for Georgia Tech students. Construction on the second phase began in May 2021. Additionally, four new retailers have inked leases at The Interlock. Pinky Promise Champagne Bar, The X Pot, City Nails and GoodVets will join the tenant lineup. Previously …

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FinanceNew JerseyNews

Cronheim Mortgage Arranges $11.5 Million Permanent Loan for Northern New Jersey Shopping Center

by Hayden Spiess

Belleville, N.J. — Cronheim Mortgage has arranged an $11.5 million permanent loan for a 70,450-square-foot shopping center in the Northern New Jersey community of Belleville. Grocer ShopRite anchors the center. Allison Villamagna and Andrew Stewart placed the 12-year loan through Farm Bureau Life Insurance Co. on behalf of the undisclosed borrower.

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LeasingNewsRestaurantsTexas

Kimco Negotiates Two Leases at Shops at Baybrook in Metro Houston

by Hayden Spiess

Webster, Texas — Kimco Realty has negotiated two leases with Kura Sushi, a technology-enabled Japanese restaurant, and specialty meat concept Wild Fork at The Shops at Baybrook. The center is under construction in the southeastern Houston suburb of Webster. Hannah Tosch, Wade Greene, Cody Persyn and Kimberly Lenardson of Colliers represented Kimco in the lease negotiations.

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City Ave
Investment salesNewsPennsylvania

IPA Brokers $24.6 Million Sale of Philadelphia Retail Center

by Hayden Spiess

Philadelphia — City Avenue Center, a 20,220-square-foot shopping center located in Philadelphia, has sold for $24.6 million. Brad Nathanson, David Crotts and Dean Zang of Marcus & Millichap’s Institutional Property Advisors (IPA) arranged the sale on behalf of an undisclosed seller and secured the buyer, a Maryland-based family office. The center, which is shadow-anchored by Target, was fully leased at the time of sale. Tenants include Chipotle Mexican Grill, Verizon and Sleep Number. A PNC Bank outparcel also occupies the property.

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willow-grove-shopping-center-groundbreaking-second-phase
DevelopmentNewsPennsylvania

Federal Realty Breaks Ground on Second Phase of 211,000-Square-Foot Shopping Center in Metro Philadelphia

by Hayden Spiess

Willow Grove, Pa. — Federal Realty Investment Trust has broken ground on the second phase of construction at Willow Grove Shopping Center, a 211,000-square-foot development located in Willow Grove. The second phase, which is scheduled for completion in the summer of 2023, will include the delivery of new dining and public amenities, as well as an 18,000-square-foot outparcel building.

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shoppes-at-parker-commons-aurora-colo
ColoradoGrocery-anchoredInvestment salesNews

JLL Arranges $8.3 Million Sale of Shopping Center in Metro Denver

by Hayden Spiess

Aurora, Colo. — JLL Capital Markets has brokered the sale of Shoppes at Parker Commons, a 32,297-square-foot retail center located in Aurora, approximately 10 miles outside of Denver. Peakview Realty acquired the property for $8.3 million. Jason Schmidt of JLL represented the seller, an entity doing business as Special Servicer LNR Partners LLC. Built in 1987, the property was 92 percent leased at the time of sale. Tenants at the center include anchor H-Mart, H&M Dental, Farmers Insurance Group, O’Hair Salon, Volcano Tea House, Neo Lashes and Nails and QQ …

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LeasingMassachusettsNews

Life Time Opens 52,000-Square-Foot Gym at Shopping Center in Metro Boston

by Hayden Spiess

Medford, Mass. — The Shops at Station Landing — a retail center located in Medford, roughly 5 miles outside of Boston — will see the addition of Life Time Wellington Station, a fitness club. Beginning this month, the gym will occupy 52,000 square feet and three stories at the center and feature amenities including strength-based and cardio equipment, a four-lane lap pool, spa and café. The location will also offer spaces for barre, cycling, Pilates, yoga, and personal and group training.

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12318-Ventura-Blvd-Los-Angeles-CA
CaliforniaInvestment salesNews

Private Family Sells Sit ‘n Sleep-Occupied Retail Building in Los Angeles’ Studio City for $6.9 Million

by Hayden Spiess

Los Angeles — A private family has completed the disposition of a retail property in the Studio City neighborhood of Los Angeles. A private investor acquired the property for $6.9 million. Sit ‘n Sleep, a mattress retailer, has occupied the two-story, 15,000-square-foot building at 12318 Ventura Blvd. for 11 years. The tenant’s current lease terminates in 2023, with a six-year option to renew. Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the deal.

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Investment salesNew JerseyNews

IPA Arranges $63 Million Sale of New Jersey Retail Center

by Hayden Spiess

West Long Branch, N.J. — Marcus & Millichap’s Institutional Property Advisors (IPA) has facilitated the $63 million sale of Consumer Centre, a 293,087-square-foot shopping center located in West Long Branch. Paramount Realty Services acquired the Home Depot-anchored property, which was 96 percent occupied at the time of sale. Brad Nathanson of IPA represented the seller, Site Centers Inc. Tenants at the center, which was built in 1993, include Dick’s Sporting Goods, Buy Buy Baby, Ulta Beauty, DSW, PetSmart and Five Below.

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ConnecticutInvestment salesNews

FNRP Purchases 259,104-Square-Foot Shopping Center in Metro Hartford

by Hayden Spiess

West Hartford, Conn. — First National Realty Partners (FNRP) has purchased Bishops Corner, a 259,104-square-foot retail center located in West Hartford, roughly five miles outside of Hartford. Tenants at the center, which is anchored by a 59,000-square-foot Target, include HomeGoods, The Paper Store, Mattress Firm, Orange Theory, AT&T, Bank of America, TD Bank, Noodles & Company, GNC, Subway and Massage Envy. Paul Penman of Newmark represented the undisclosed seller in the transaction.

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