Tuesday, June 24, 2025
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Hayden Spiess

The-Switchyard
ArizonaDevelopmentMixed-useNews

Creation to Break Ground on $120 Million The Switchyard Mixed-Use Development in Suburban Phoenix

by Hayden Spiess

Queen Creek, Ariz. — Development firm Creation is set to break ground on The Switchyard, a $120 million mixed-use development located at the northeast corner of Ellsworth and Ocotillo roads in the Phoenix suburb of Queen Creek.  Plans for the 10-acre project include the development of 54,000 square feet of restaurant, retail, residential and office space. The retail portion of the development will include a 3,800-square-foot Postino wine café and an 11,900-square-foot restaurant called The Porch, which will include an expansive outdoor patio.  Creation plans to break ground on the multi-phase …

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Family-Dollar
Company newsNewsVirginia

Dollar Tree Explores Future of Family Dollar Business Segment, Including Possible Sale

by Hayden Spiess

Chesapeake, Va. — Dollar Tree Inc. (NASDAQ: DLTR) has announced a formal review of its Family Dollar business segment, including the possibility of selling, spinning off or otherwise disposing of the brand. In March, Dollar Tree announced the closure of 1,000 stores nationally, roughly 970 of which were underperforming Family Dollar stores. Additionally, Dollar Tree recently acquired designation rights for 170 former 99 Cents Only store leases. “Dollar Tree has been on a multi-year journey to help the company fully achieve its potential,” says Rick Dreiling, chairman and CEO of Dollar …

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Panthers
DevelopmentNewsNorth Carolina

Carolina Panthers Propose $1.3 Billion in Renovations to Bank of America Stadium

by Hayden Spiess

Charlotte, N.C. — The NFL’s Carolina Panthers have unveiled plans for a renovation of its Bank of America Stadium in Charlotte totaling $1.3 billion.   Highlights of the renovation include a park-like setting and exterior video boards for watch parties at the stadium’s entrance. Once inside, fans would experience a new sound system, scoreboard and video boards. Plans call for social areas with skyline views, improved concessions with regional offerings and an expanded team store. Additional improvements include new seats installed throughout the bowl; improved accessibility throughout the facility; stadium safety and …

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Shops-at-the-Crossing
Investment salesMichiganNews

Marcus & Millichap Brokers $8.9 Million Sale of Retail Center in Auburn Hills, Michigan

by Hayden Spiess

Auburn Hills, Mich. — Marcus & Millichap has brokered the $8.9 million sale of Shops at the Crossing, a retail center located in Auburn Hills. Built in 2002, the property comprises 48,364 square feet. Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a private company based in Michigan. The team also procured the buyer, a West Coast-based private fund. The brokerage firm’s Steve Chaben assisted in closing the transaction as the Michigan broker of record.

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Shops-III-Anatolia-Marketplace
CaliforniaInvestment salesNews

Hanley Arranges $4.8 Million Sale of Retail Pad in Metro Sacramento

by Hayden Spiess

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.8 million sale of Shops III at Anatolia Marketplace, a multi-tenant retail pad in Rancho Cordova, roughly 13 miles outside Sacramento. Tenants at the property, which totals 5,900 square feet, include Popeyes Louisiana Kitchen, Cold Stone Creamery, Jamba and Capriotti’s Sandwich Shop. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC. Craig Lewis of Lewis Capital Advisors represented the buyer, a local private investor. 

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Erewhon
CaliforniaNews

Erewhon to Open 18,000-Square-Foot Store in Glendale, California

by Hayden Spiess

Glendale, Calif. — Erewhon will open a new, 18,000-square-foot store next year in Glendale. The grocer has purchased a 24,000-square-foot former Virgil’s Hardware Home Center and will lease the additional space to complementary tenants. Plans for the property include a remodel of the building façade, upgrades to the utilities and enhancements to the landscaping and outdoor seating. Virgil’s vacated the site, which has remained vacant since the departure, in 2019. 

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Virginia-Gateway_Gainesville-Va
Grocery-anchoredInvestment salesNewsVirginia

Federal Realty Acquires 665,000-Square-Foot Virginia Gateway Retail Center in Gainesville, Virginia for $215 Million

by Hayden Spiess

Gainesville, Va. — Federal Realty Investment Trust has acquired Virginia Gateway, a 665,000-square-foot retail center situated on 110 acres in Gainesville. The purchase price was $215 million. Tenants at the property, which is organized into five sections and was 95 percent occupied at the time of sale, include Giant Food, HomeGoods, Ulta Beauty, Total Wine & More and Hobby Lobby. 

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Lake-Nona-West_Orlando-Fla
DevelopmentFloridaLeasingNews

Target to Open 150,000-Square-Foot Store at Lake Nona West in Orlando

by Hayden Spiess

Orlando, Fla. — Target will open a 150,000-square-foot store at Lake Nona West, marking the first anchor tenant at the 405,000-square-foot shopping center project in Orlando. Situated on 54 acres near the Brightline Station and Orlando International Airport, the development is scheduled for completion in fall 2025. Tavistock Development is the developer and landlord. 

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Grandview-Plaza_Florissant-Mo
Grocery-anchoredInvestment salesMissouriNews

Legacy Brokers $13.5 Million Acquisition of Shopping Center in Missouri 

by Hayden Spiess

Florissant, Mo. — Legacy Realty Group Advisors has brokered the $13.5 million sale of Grandview Plaza, a shopping center located in Florissant. Schnucks and Old Time Pottery anchor the property, which totals 297,257 square feet. Daniel Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented the buyer in the transaction, and Chase Young and Mike Joyce of CBRE represented the seller. 

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Walgreens_Tampa-Fla
FloridaInvestment salesNet leaseNews

Marcus & Millichap Arranges $6.1 Million Sale of Single-Tenant Property in Tampa, Florida

by Hayden Spiess

Tampa, Fla. — Marcus & Millichap has arranged the $6.1 million sale of a single-tenant property located in Tampa. Walgreens occupies the building on a net-lease basis. Ronnie Issenberg, Gabriel Britti and Ricardo Esteves of Marcus & Millichap represented the seller, CP Thunder FS LLC, in the transaction. Evan Kristol and Felipe Echarte of Marcus & Millichap secured the buyer, JJR Apartments LLC, and Chris Marks of Marcus & Millichap arranged acquisition financing. 

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