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Hayden Spiess

KFC-Virginia-Beach-Va
ArizonaInvestment salesNet leaseNewsRestaurantsVirginia

Red Mountain Group Divests of Two Properties for $3.2 Million

by Hayden Spiess

Phoenix and Virginia Beach, Va. — Red Mountain Group has sold two single tenant net lease properties for a combined $3.2 million. Rolberto’s Tacos — a drive-thru restaurant located at Cave Creek Road in Phoenix — was sold to entities doing business as KDD63 LLC and Cave Creek DT LLC for $1.1 million. The other property, a Kentucky Fried Chicken in Virginia Beach, Virginia, was sold for $2.1 million to Hilda and Terrence McPherson. Red Mountain Group was represented by Kenneth James Realty in the first transaction and by The …

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Cherried-Mary's-Roswell-Ga
GeorgiaNewsRestaurants

Cherried Mary’s Opens 60-Seat Shop in Metro Atlanta

by Hayden Spiess

Roswell, Ga. — Cherried Mary’s Ice Cream Parlor has opened a storefront at 1075 Canton Street in Roswell, about 20 miles north of Atlanta. Designed with a vintage aesthetic, the parlor features space for up to 60 guests and serves menu items made in-house, including milkshakes, sundaes, banana splits, s’mores ice cream sandwiches and savory snacks. This location marks the first ice cream shop in the town, according to the owners, who also own breakfast and lunch spot Gracious Plenty.

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DevelopmentGrocery-anchoredNewsTexas

Weitzman Completes Renovation of 175,000-Square-Foot Shopping Center in Plano, Texas

by Hayden Spiess

Plano, Texas — Weitzman has completed the renovation of Willow Bend Market, a 175,000-square-foot retail center located in Plano. The center was originally built in 1997 and is anchored by grocer Tom Thumb, and the reconfiguration of that store represented a major piece of the renovation. Bernard Shaw of Weitzman oversaw the project, with Emilie Paulson of Weitzman acting as project leasing agent. Additional upgrades included the enhancement of building electrical systems, parking areas and landscaping, as well as other aesthetic improvements. Willow Bend Market also features an array of …

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Old-Orchard-Santa-Clarita-Calif
CaliforniaFinanceNews

iBorrow Provides $15 Million Refinancing for Santa Clarita Shopping Center

by Hayden Spiess

Santa Clarita, Calif. — iBorrow has provided $15 million in refinancing for Old Orchard Shopping Center, a 100,000-square-foot retail center located in Santa Clarita. Proceeds of the financing will retire an outstanding commercial mortgage-backed security loan and fund tenant improvements and leasing commissions. Occupants at the property, located at 23329-23449 Lyons Ave., include grocery and fast-food tenants.

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CaliforniaDevelopmentLeasingNews

Progressive Arranges 70,000-Square-Foot Lease with Target in Metro Los Angeles

by Hayden Spiess

Ontario, Calif. — Progressive Real Estate Partners has completed a lease with Target at Vineyard Freeway Center in Ontario, a 151,000-square-foot shopping center approximately 35 miles east of Los Angeles. Target will occupy 70,000 square feet of a building formerly leased to Kmart, which closed in 2018. Planet Fitness leased 24,000 square feet at the building earlier this year. Target’s new lease marks full occupancy of the 94,000-square-foot space. Paul Galmarini and Paul Su of Progressive represented the landlord in the negotiation. Jeff Nichols and Ryan Sullivan of CBRE represented …

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LeasingNewsVirginia

Rappaport Adds Five New Tenants to Village at Leesburg Shopping Center in Northern Virginia

by Hayden Spiess

Leesburg, Va. — Rappaport has signed five new tenants to Village at Leesburg, a 550,593-square-foot shopping center located in Leesburg. Rappaport owns, manages and leases the property, which houses more than 75 tenants, including anchors Wegmans, CMX Cinemas, LA Fitness and Bowlero. New tenants include Spitz, a Mediterranean restaurant concept; Altitude Trampoline Park, an entertainment venue with more than 80 locations; Anchor Bar, a wings restaurant concept with more than 50 locations; A Place to Be, a nonprofit based in Middleburg, Virginia, that offers art and music therapy programs; and …

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GeorgiaLeasingNewsPop-Up Retail

Two Tenants, Pop-Ups Join Atlantic Station in Atlanta

by Hayden Spiess

Atlanta — Two permanent and two pop-up tenants will join Atlantic Station, a mixed-use retail and entertainment center located in the Midtown neighborhood of Atlanta. Soma, an intimates brand, and Sephora will both open permanent locations this fall and in 2023, respectively. Additionally, streetwear concepts Repeat ATL and Country Bumkin will open at Atlantic Station as pop-up retailers beginning this month through January of next year. Other tenants at Atlantic Station include H&M, Forever 21 and Dillard’s. The center also features 700,000 square feet of office space, occupied by employers …

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Dollar-General
GeorgiaInvestment salesNet leaseNews

Marcus & Millichap Brokers $25.5 Million Sale of 14 Dollar General Occupied Properties Across Six States

by Hayden Spiess

Atlanta — Marcus & Millichap’s Taylor McMinn Retail Group has arranged the sale of a Dollar General portfolio comprising 14 stores located in six states. Don McMinn of Marcus & Millichap based in Atlanta brokered the $25.5 million transaction. All of the stores were constructed this year, and all are subject to 15-year triple net leases. An undisclosed developer sold the properties to an undisclosed, institutional retail owner. Of the sale, McMinn comments that there is an “increased institutional interest for net lease portfolios due to their attractive returns caused …

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Grocery-anchoredInvestment salesNewsNorth Carolina

JLL Brokers Sale of Harris Teeter Ground Lease at 99,839-Square-Foot Shopping Center in New Bern, North Carolina

by Hayden Spiess

New Bern, N.C. — JLL has arranged the sale of a Harris Teeter ground lease at New Bern Marketplace, a 99,839-square-foot retail center located in New Bern. Alex Sharrin, Danny Finkle, Tom Kolaczyk and Jeff Cicurel of JLL represented the sellers, Columbia Development Group and Lubert Adler. Bussel Realty represented the 1031 buyer, Central Ave. Corp. Other tenants at the shopping center include Ross Dress for Less, Hobby Lobby, Academy Sports, Five Below, West Marine and Ulta Beauty.

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Investment salesNewsWisconsin

Mid-America Arranges Sale of 178,784-Square-Foot Retail Center in Suburban Milwaukee

by Hayden Spiess

Brookfield, Wis. — Mid-America Real Estate Corp.’s Investment Sales Group has brokered the sale of Shoppers World of Brookfield, a 178,784-square-foot shopping center located in the Milwaukee suburb of Brookfield. Ross Dress for Less, Burlington, Xperience Fitness and Best Buy Outlet anchor the property, which was 100 percent leased at the time of sale to tenants including O’Reilly Auto Parts and Leslie’s Pool Supplies. The center is also shadow-anchored by Metro Market. Ben Wineman, Emily Gadomski and Dan Rosenfeld of Mid-America represented the seller, an affiliate of investment firm PMAT. …

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