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Hayden Spiess

Georgia-Pacific-Rendering
DevelopmentGeorgiaMixed-useNews

Georgia-Pacific Announces Plans for Mixed-Use Redevelopment at 51-Story Downtown Atlanta Campus

by Hayden Spiess

Atlanta — Paper products manufacturing and marketing giant Georgia-Pacific has announced plans to redevelop the company’s 51-story world headquarters building and the surrounding city block in downtown Atlanta. Upon completion, the development will feature more than 400 apartment units on the tower’s top floors; 125,000 square feet of retail, restaurant and entertainment space; 600,000 square feet of Class A office space anchored by Georgia-Pacific and its parent company, Koch Inc.; 35,000 square feet for a large, central plaza; more than 2,100 parking spaces; and MARTA and Atlanta Streetcar transportation access.  “The …

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Arbutus-Shopping-Center_Arbutus-Md
Grocery-anchoredInvestment salesMarylandNews

KLNB Brokers $16.7 Million Sale of Shopping Center in Metro Baltimore

by Hayden Spiess

Arbutus, Md. — KLNB has brokered the $16.7 million sale of Arbutus Shopping Center in Arbutus, roughly 10 miles outside Baltimore. Weis Markets anchors the property, which totals 87,939 square feet and was 95 percent occupied at the time of sale. Other tenants at the center include Walgreens, Advance Auto Parts, Dollar Tree and Truist Bank. Meir Duke of Duke Arbutus acquired Arbutus Shopping Center from AmCap Inc., which acquired the property in 1981.  Chris Burnham and Vito Lupo of KLNB represented the seller in the transaction, and MFI Realty represented the …

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Spring-Plaza_Ocean-Springs-Miss
Grocery-anchoredInvestment salesMississippiNews

Legacy Arranges Sale of 110,248-Square-Foot Shopping Center in Ocean Springs, Mississippi

by Hayden Spiess

Ocean Springs, Miss. — Legacy Realty Group Advisors has arranged the $8.2 million sale of Spring Plaza, a 110,248-square-foot shopping center located in Ocean Springs. Winn-Dixie anchors the property. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy represented the buyer in the transaction. Dex Shill of NAI Latter & Blum represented the seller. 

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FinanceMassachusettsNews

Cronheim Secures $7.4 Million Refinancing for Shopping Center in Pittsfield, Massachusetts

by Hayden Spiess

Pittsfield, Mass. — Cronheim Mortgage has secured a $7.4 million loan for the refinancing of Merrill Road Retail Plaza, a shopping center located in Pittsfield. Constructed in 1971, the property was fully leased at the time of financing to tenants including T.J. Maxx, HomeGoods, Harbor Freight, Aspen Dental, Sally Beauty Supply and Planet Fitness. Andrew Stewart, Dev Morris and Brandon Szwalbenest of Cronheim arranged the 10-year financing on behalf of the borrower, Phoenix Realty Management. 

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Orange-Avenue-Plaza_Orlando-Fla
FloridaInvestment salesNews

Marcus & Millichap Negotiates $6 Million Sale of Retail Center in Orlando, Florida

by Hayden Spiess

Orlando, Fla. — Marcus & Millichap has negotiated the $6 million sale of Orange Avenue Plaza, a retail center located in Orlando. Situated near Orlando’s downtown business district, the property comprises seven units. Tarek Chbeir of Marcus & Millichap represented the undisclosed seller in the transaction. 

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Crossroads-of-Taylorsville_Taylorsville-Utah
Investment salesNewsUtah

CRC Acquires 630,000-Square-Foot Shopping Center in Metro Salt Lake City

by Hayden Spiess

Taylorsville, Utah — Continental Realty Corp. (CRC) has acquired The Crossroads of Taylorsville, a 630,000-square-foot shopping center located in Taylorville, roughly 12 miles south of Salt Lake City. TriGate Capital was the seller. Target, T.J. Maxx, HomeGoods, Ross Dress for Less, EOS Fitness, Regal Cinema and PetSmart anchor the property, which was 94 percent leased at the time of sale. Originally developed in 1982, the center features 10 buildings and seven separate outparcels and multi-tenant buildings.  Mark Damiani of Eastdil Secured represented the seller in the transaction. 

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White-Oak-Village-Center_Richmond-Va
Grocery-anchoredInvestment salesNewsVirginia

Cushman & Wakefield Brokers Sale of 397,605-Square-Foot Shopping Center in Richmond, Virginia

by Hayden Spiess

Richmond, Va. — Cushman & Wakefield has brokered the sale of White Oak Village Center, a 397,605-square-foot shopping center located in Richmond. Triple BAR White Oak acquired the property, which was 94 percent leased at the time of sale, from an undisclosed seller. Publix, Michaels, PetSmart and JCPenney anchor the center. John Owendoff and Catharine Spangler of Cushman & Wakefield represented the seller in the transaction. 

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First Colony Commons
Investment salesNewsTexas

CBRE Arranges Sale of 379,829-Square-Foot Retail Center in Sugar Land, Texas

by Hayden Spiess

Sugar Land, Texas — CBRE has arranged the sale of First Colony Commons, a 379,829-square-foot retail center located in Sugar Land. Seafood City anchors the property, which was 97 percent leased at the time of sale. Mark Witcher, Chris Cozby, Jim Batjer, Harrison Tye and Jolie Duhon of CBRE represented the seller, TriGate Capital, in the transaction. Ryan Watson of CBRE secured acquisition financing on behalf of the buyer, Dhanani Private Equity Group. 

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Athletes-Foot_Atlanta
Company newsGeorgiaNews

The Athlete’s Foot Opens Flagship Store in Midtown Atlanta

by Hayden Spiess

Atlanta — Shoe and sports apparel retailer The Athlete’s Foot, which operates 400 stores in 24 countries, has opened a flagship store in Midtown Atlanta. Located along the Atlanta BeltLine adjacent to Piedmont Park, the new space also features a community center component that will serve as “cultural hub” for community engagement. Project partners included T. Dallas Smith & Co. (real estate advisor), J.M. Lee Construction Co. (general contractor) and Aysha Pennerman (mural artist).

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Jacksonville-Crossing_Alabama
AlabamaInvestment salesNews

Marcus & Millichap Negotiates Sale of 56,401-Square-Foot Retail Center in Alabama

by Hayden Spiess

Jacksonville, Ala. — Marcus & Millichap has negotiated the sale of Jacksonville Crossing, a 56,401-square-foot retail center in Jacksonville, a city in northeast Alabama. The property was 67 percent leased at the time of sale to tenants including Dollar Tree, Baja California Grill, Cricket Wireless and Five Below, which recently signed a new 10-year lease at the center. Philip Levy and Zach Taylor of Marcus & Millichap represented the seller and secured the buyer. Eddie Greenhalgh served as Marcus & Millichap’s broker of record in Alabama for the transaction.

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