Sarasota, Fla. — Publix Super Markets has opened a 48,000-square-foot grocery store at Fruitville Farms, a mixed-use development currently underway in Sarasota. Benderson Development is the master developer of the public-private partnership, which will feature 150,000 square feet of retail and restaurants, in addition to 600 apartments and a new 120,000-square-foot Sarasota County Administration Center. Publix is the first tenant to open at the shopping center within Fruitville Farms.
San Francisco — Ingka Centres has opened a 23,000-square-foot food hall at Meeting Place in San Francisco, a 256,000-square-foot IKEA-anchored shopping center owned by the company. Vendors at the food hall, dubbed Saluhall, include Taqueria La Venganza, MOMO Noodle, KAYMA Algerian Eater, Curry Up Now and Casa Boriqueña. KERB will operate the venue, which features a focus on plant-forward cuisine.
Center Valley, Pa. — Five Guys Burgers & Fries will open a 2,407-square-foot restaurant at Promenade Saucon Valley — formerly known as The Promenade Shops at Saucon Valley — in Center Valley. Scheduled to open this fall, the store will be situated between tenants European Wax Center and uBreakiFix. Five Guys’ portfolio currently includes more than 1,700 restaurants globally.
Thornton, Colo. —TM Crowley & Associates has partnered with NLG Capital Management (NLGCM), a division of The Net Lease Group, to develop The Highlands at Thornton, a 23-acre mixed-use property in Thornton. Upon completion, the project will feature more than 101,925 square feet of retail, commercial and medical office space. CVS Caremark will anchor the development. Lisa Vela and Jay Landt of Colliers will manage leasing at the property.
Kissimmee, Fla. — JLL Capital Markets has arranged a $47.1 million loan for the refinancing of The Crosslands, a 529,212-square-foot retail center in Kissimmee, roughly 20 miles outside Orlando. The borrower is a joint venture between Hampshire Cos., Federated Hermes and O’Connor Capital Partners. The Fresh Market, Burlington, Academy Sports, Hobby Lobby, Marshalls/HomeGoods and Ross Dress for Less anchor the property, which was developed between 2014 and 2016 and fully leased at the time of financing. Jon Mikula, Michael Klein, Brian Gaswirth, Michael Kavaler and Val McWilliams of JLL secured the …
Provo, Utah — Target has signed a deal to occupy 135,000 square feet of retail space at Provo Towne Centre in Provo. Brixton Capital is currently remodeling the shopping center. The Target will feature a CVS/pharmacy, Starbucks Coffee, Ulta Beauty, Target Optical and an adult beverage department. Roche Construction Mountain West is the general contractor for the Target space, and Big D Construction Mountain West is the general contractor for Provo Towne Centre.
Madison, Ohio — Marcus & Millichap has brokered the sale of Madison Shopping Center, a 72,048-square-foot retail center located in Madison, approximately 40 miles northeast of Cleveland. Tractor Supply Co. and Bealls anchor the property. Other tenants at the center include Goodwill, Snap Fitness, Eagle Financial Services and TNT Tanning. Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the undisclosed Florida-based seller, the original developer of the property, in the transaction. An Ohio-based private investor acquired the property in a 1031 exchange.
Waldorf, Md. — Sprouts Farmers Market will open a 24,942-square-foot store at The Shops at Waldorf Center, a 600,000-square-foot shopping center located in Waldorf, approximately 30 miles outside Washington, D.C. Scheduled to open in fall 2025, the store will be situated near DSW, CAVA, Five Below and Old Navy. Madison Marquette is the landlord of the property, which is managed by Avison Young.
Sandy Springs, Ga. and Tamarac, Fla. — Jamestown has purchased two grocery-anchored shopping centers totaling roughly 284,000 square feet. The acquired properties include Fountain Oaks — a 160,000-square-foot, Kroger-anchored center in Sandy Springs, Georgia — and Tamarac Town Square, a 124,000-square-foot, Publix-anchored center located in Tamarac, Florida. The properties were 92 percent and 84 percent leased at the time of sale, respectively. Edens sold Fountain Oaks for an undisclosed price, and Regency Centers sold Tamarac Town Square for an undisclosed price. JLL represented both sellers in the transactions. Jamestown plans to …
Los Angeles — CBRE has secured $36.4 million in post-acquisition financing for the recapitalization of the purchase of La Canada Flintridge Town Center in Los Angeles. Target anchors the 115,939-square-foot property, which was 96.7 percent occupied at the time of financing. Other tenants at the center include HomeGoods, Panera Bread, Habit Burger and Taylor’s. Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE arranged the seven-year, full-term interest-only loan on behalf of the borrower, TRC.