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Hayden Spiess

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CaliforniaFinanceGrocery-anchoredNews

Calmwater Capital Provides $20.9 Million Acquisition Financing for Shopping Center Near Palm Springs, California

by Hayden Spiess

Cathedral City, Calif. — Calmwater Capital has provided a $20.9 million loan for the acquisition of Cathedral City Marketplace, a shopping center located in Cathedral City, approximately seven miles southeast of Palm Springs. Rhino Investment Group is the borrower. Situated on 21 acres, the property totals 195,000 square feet. Tenants at the center include Kroger’s Food 4 Less, Planet Fitness, dd’s Discounts, DJ’s Sports Bar and Subway. Larry Grantham, Zach Novatt and DaJuan Bennett of Calmwater originated the loan. Jeff Sause, Chad Morgan, Daniel Skerrett and Jalynn Borders of JLL Capital …

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Investment salesNew JerseyNews

Montana Property Group Acquires 84,933-Square-Foot Retail Center in Voorhees, New Jersey

by Hayden Spiess

Voorhees, N.J. — Montana Property Group has acquired Echelon Village Plaza, an 84,933-square-foot retail center located in Voorhees. SITE Centers sold the property for $8.5 million. Tenants at the center include Edge Fitness, Dollar Tree and Buffalo Wild Wings. Atlantic Retail represented the seller in the transaction. 

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CaliforniaInvestment salesNews

Faris Lee Brokers $6 Million Sale of Shopping Center in Tulare, California

by Hayden Spiess

Tulare, Calif. — Faris Lee Investments has brokered the $6 million sale of Tulare Pavilion Shopping Center in Tulare. Tenants at the property include Dollar Tree, Harbor Freight Tools and Big Lots. The center is situated near Tulare Outlet Center, which draws over 4 million visitors each year, according to Faris Lee. 

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ArizonaDevelopmentMixed-useNews

RED Development Underway on $2 Billion Redevelopment of Paradise Valley Mall in Phoenix

by Hayden Spiess

Phoenix — RED Development has begun construction on PV, the $2 billion redevelopment of a 100-acre site in Phoenix formerly occupied by Paradise Valley Mall.  Phase I of the project will include retail, dining and entertainment space anchored by Whole Foods Market; AVE Paradise Valley, a 400-unit multifamily community; and a 77,000-square-foot co-headquarters for Fender Musical Instruments Corp. Each component of the development will be linked via centrally located parks.  A groundbreaking was recently held for the office portion of the development — a three-story building designed by SmithGroup to be …

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ColoradoGrocery-anchoredInvestment salesNews

KPR Centers Acquires Retail Center in Denver for $56.5 Million 

by Hayden Spiess

Denver — KPR Centers has acquired University Hills, a retail center located in Denver, for $56.5 million. Supermarket chain King Soopers anchors the property, which totals 210,000 square feet. Other tenants at the center include Michaels, Marshalls, Office Depot, PetSmart, Five Below, Ulta Beauty and Starbucks Coffee. Tom Lagos of Institutional Property Advisors (IPA) represented KPR in the acquisition. 

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LeasingMinnesotaNews

Dick’s Sporting Goods to Open 80,000-Square-Foot Store in Metro Minneapolis 

by Hayden Spiess

Roseville, Minn. — Dick’s Sporting Goods will open an 80,000-square-foot store in Roseville, roughly 10 miles outside Minneapolis. Scheduled to open Oct. 16, the store will be situated within Rosedale Center, a 1.1 million-square-foot shopping center. JLL is the landlord, and Holly Rome and Lane Walsh of JLL secured the lease. Poag Development Group led construction management of the project at the Dick’s parcel, which was formerly occupied by Herberger’s. The new store will feature golf hitting bays, a multisport cage, equipment services counter and a House of Cleats. 

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Investment salesMarylandNews

SVN | Miller Arranges Sale of 13,824-Square-Foot Single-Tenant Property in Salisbury, Maryland

by Hayden Spiess

Salisbury, Md. — SVN | Miller Commercial Real Estate has arranged the sale of a single-tenant retail property located in Salisbury. The property, which totals 13,824 square feet and features a drive-thru, was formerly occupied by Rite Aid, which vacated the site in September 2023. Tonney Insley and Ryan Finnegan of SVN | Miller represented the seller in the transaction. Christopher Zamias of CCN Real Estate represented the buyer, an undisclosed retail chain. 

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Grocery-anchoredInvestment salesNew JerseyNews

IPA Arranges Sale of 485,094-Square-Foot Shopping Center in Hamilton Township, New Jersey

by Hayden Spiess

Hamilton Township, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Hamilton Marketplace, a 485,094-square-foot shopping center located in Hamilton Township. A 65,155-square-foot ShopRite anchors the property, which was constructed in phases beginning in the early 2000s. Other tenants at the center include Kohl’s, Ross Dress for Less, Staples, Barnes & Noble, Michaels, Old Navy, Ulta Beauty, Burlington and PetSmart. Paramount Realty acquired the property from SITE Centers for $116.5 million. Brad Nathanson and JP Colussi of IPA represented the seller in the …

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FloridaGrocery-anchoredInvestment salesNewsTexas

Longpoint Purchases Two Retail Centers for $45.7 Million

by Hayden Spiess

Houston and Pompano Beach, Fla. — Longpoint Partners has purchased two shopping centers for a total of $45.7 million. The properties — Plaza Mexico in Houston and Palm Aire Marketplace in Pompano Beach, Florida — comprise 103,907 and 143,219 square feet, respectively. El Rancho anchors Plaza Mexico, which was 96 percent occupied at the time of sale, and El Presidente Supermarket anchors Palm Aire Marketplace, which was 90 percent leased at the time of sale. Both properties will be managed under Longpoint’s new Lena Centers brand. 

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