Albuquerque, N.M. — Restaurant chain Marco’s Pizza has signed a nine-unit development agreement in New Mexico. Franchisees Chris and Kristian Ornelas will own and operate the restaurants, with the first new units scheduled to open in Albuquerque and Rio Rancho before the end of the first quarter of 2025. This mark’s the brand’s first entry into the state.
Waretown, N.J. — First National Realty Partners (FNRP) has acquired Waretown Town Center, an 87,735-square-foot retail center located in Waretown. A 60,800-square-foot ShopRite anchors the property, which is situated along the Jersey Shore Line. Other tenants at the center include Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips. Colin Behr and Chris Munley of CB Richard Ellis represented the undisclosed seller in the transaction. This marks FNRP’s seventh shopping center acquisition in New Jersey.
Boscobel and Howards Grove, Wis. — Marcus & Millichap has brokered the $3.2 million sale of two Piggly Wiggly-occupied retail properties located in Boscobel and Howards Grove. The buildings comprise 30,700 and 24,268 square feet, respectively. Ben Kohl and Mitchell Kiven of Marcus & Millichap represented the undisclosed seller in the transaction.
Jacksonville, Fla. — Baum Family Investments has purchased three single-tenant properties located in Jacksonville. Kentucky Fried Chicken (KFC) occupies each of the properties on a triple-net-lease basis. An undisclosed seller sold the buildings for roughly $5 million. Baum Family Investments has acquired four other properties in the state this year, with plans to purchase an additional six properties before the end of 2024.
Charlotte, N.C. and Travelers Rest, S.C. — Eggs Up Grill — a breakfast, brunch and lunch chain — has signed a new, seven-unit development agreement in North and South Carolina. Franchisee Conley McIntyre, who has a portfolio of existing Eggs Up outposts, will develop, own and operate the restaurants. Six of the locations will be in the Charlotte, North Carolina market, with an additional location in Travelers Rest, South Carolina. There are more than 100 Eggs Up Grill restaurants planned or currently underway.
Santa Rosa, Calif. — WS Development has completed the renovation and expansion of public gathering spaces at Montgomery Village, a 280,000-square-foot retail center located in Santa Rosa, as well as added new tenants. Highlights of the property renovations include updates to The Courtyard, a community hub that features seating, a children’s play area and a dog relief area. The Passage, a new covered passageway connecting the north and south ends of the property, is now also open at the center. New tenant openings at the property include Amour Vert, Mandarin Kitchen, Gorjana, …
Winter Park, Fla. — CTO Realty Growth Inc. has acquired a portfolio of three shopping centers located in Florida and North Carolina. The properties, which together total 893,000 square feet, include Carolina Pavilion in Charlotte, North Carolina; Millenia Crossing in Orlando, Florida; and Lake Brandon Village in Brandon, Florida. CTO purchased the portfolio from an undisclosed seller for $137.5 million. Carolina Pavilion, which was 93 percent leased at the time of sale, comprises roughly 691,000 square feet. Tenants at the center include AMC Theatres, Floor & Décor, Nordstrom Rack, Ross Dress for …
Visalia, Calif. — Matthews Real Estate Investment Services has arranged the sale of Mary’s Vineyard, a shopping center located in Visalia. Argonaut Investments, a privately held investment firm, acquired the asset from an undisclosed seller for $17.7 million. Developed in 1989 on 16.5 acres, the property totals 151,615 square feet and was leased to 28 tenants at the time of sale. Carter Hamilton and Matt LoPiccolo of Matthews Real Estate Investments represented the seller and buyer in the transaction.
Reading, Mass. — Atlantic Capital Partners has brokered the $5.6 million sale of a single-tenant property located in the Boston suburb of Reading. HomeGoods occupies the building, which totals 30,000 square feet. Justin Smith, Chris Peterson, Sam Koonce and Matt Austin of Atlantic Capital Partners represented both the buyer and seller in the transaction.
McDonough, Ga. — Chick-fil-A has opened its first elevated, drive-thru only restaurant in the south Atlanta suburb of McDonough. The restaurant features four drive-thru lanes running below an elevated kitchen that is twice the size of a typical Chick-fil-A kitchen. Food reaches the delivery team members via a custom meal transport system that uses conveyer belt technology. Patrons can either order onsite with a Chick-fil-A team member or order ahead on the Chick-fil-A app, and the restaurant features dedicated lanes for both ordering methods, as well as “pull-aside lanes” for guests …