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Hayden Spiess

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GeorgiaGrocery-anchoredInvestment salesNews

Hanley Brokers $25 Million Sale of New Publix-Anchored Shopping Center in Dacula, Georgia

by Hayden Spiess

Dacula, Ga. — Hanley Investment Group Real Estate Advisors has brokered the $25 million sale of Publix at Harbins 316, a shopping center located in Dacula, roughly 40 miles outside Atlanta. Tenants at the center, which is anchored by Publix, include Great Clips, Starbucks Coffee, Jersey Mike’s Subs, Wingstop, The UPS Store and Heartland Dental. Ed Hanley and Kevin Fryman of Hanley, with ParaSell Inc., represented the buyer, a San Diego-based investor, in the transaction. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, Watkins Real Estate Group.

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EntertainmentLeasingNewsPennsylvania

Apple Cinemas Signs 82,000-Square-Foot Lease at Retail Center in Philadelphia

by Hayden Spiess

Philadelphia — Apple Cinemas has signed an 82,000-square-foot lease at Riverview Plaza III, a retail center located in Philadelphia. Tower Investments owns the development, which is situated one mile from Center City. Richard Soloff of Soloff Realty & Development manages leasing for the property.  Founded in 2010, Apple Cinemas currently operates multiple theaters across six states. Other locations include Greece and Hicksville, New York; San Francisco and Danville, California; and Royal Palm Beach, Florida. 

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Shopping-Center_Buffalo-Grove-Ill
IllinoisInvestment salesNews

Quantum Brokers $3.9 Million Sale of Shopping Center in Metro Chicago

by Hayden Spiess

Buffalo Grove, Ill. — Quantum Real Estate Advisors Inc. has brokered the $3.9 million sale of a 94,000-square-foot shopping center located in the northwest Chicago suburb of Buffalo Grove. At the time of sale, the property was 51 percent leased to tenants including Aldi, Dollar Tree and AutoZone. Brett Berlin of Quantum represented the buyer, a private developer based in Illinois that plans to redevelop the center. The previous owner lost the property to its lender. 

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Investment salesNewsTexas

CenterSquare Acquires 22,443-Square-Foot Retail Center in Austin Suburb

by Hayden Spiess

Cedar Park, Texas — CenterSquare has acquired the Shops at Lakeline, a 22,443-square-foot retail center located in the Austin suburb of Cedar Park. The property was fully leased at the time of acquisition. According to a press release issued by the company, the purchase aligns with CenterSquare’s strategy “to target unanchored, high-quality essential service retail (ESR) centers in strong demographic submarkets.” 

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Yorktown-Center
DevelopmentIllinoisMixed-useNews

PRCP, Synergy Break Ground on Mixed-Use Redevelopment of Yorktown Center Mall in Suburban Chicago

by Hayden Spiess

Lombard, Ill. — A joint venture between Pacific Retail Capital Partners (PRCP) and Synergy Construction Group has broken ground on the mixed-use redevelopment of Yorktown Center, an enclosed regional mall located in the Chicago suburb of Lombard.  The 1.2 million-square-foot mall opened its doors in October 1968. The 130-acre property is currently home to over 170 stores and restaurants, including anchors Von Maur and JCPenney.  The joint venture acquired a 217,887-square-foot anchor building at the site that was formerly occupied by Carson Pirie Scott in fall 2022. The property will be …

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Investment salesNewsTexas

Partners Capital Sells 73,882-Square-Foot Retail Center in San Marcos, Texas

by Hayden Spiess

San Marcos, Texas — Partners Capital, the investment platform of Partners Real Estate, has sold San Marcos Place, a 73,882-square-foot retail center located in San Marcos. An Austin, Texas-based private buyer acquired the property for an undisclosed price. Built in 1985 and renovated in 2017, the center was 82 percent occupied at the time of sale. Cathy Nabours and Kyle Shaffer of SRS Real Estate Partners represented Partners Capital in the transaction. Partners Capital acquired San Marcos Place in June 2018 as part of its Partners Opportunity Fund II. 

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University-Hills-Denver-CO
ColoradoFinanceGrocery-anchoredInvestment salesNews

KPR Centers Secures $33.9 Million in Acquisition Financing for University Hills Retail Center in Denver

by Hayden Spiess

Denver — KPR Centers has secured a $33.9 million loan to finance the acquisition of University Hills, a retail center located in Denver. Sunny Sajnani and Travis Headapohl of Institutional Property Advisors (IPA) Capital Markets, a division of Marcus & Millichap, arranged the five-year financing through a life insurance company lender. The fixed-rate loan features full-term interest-only payments and prepayment open at par for the last year.  Tom Lagos of IPA procured the buyer in the sales transaction. University Hill was fully leased to tenants including King Soopers, Michaels, Marshalls, Office …

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ConnecticutGrocery-anchoredInvestment salesNews

Atlantic Capital Partners Brokers $15.1 Million Sale of Shopping Center in Groton, Connecticut

by Hayden Spiess

Groton, Conn. — Atlantic Capital Partners, a division of Atlantic Retail, has brokered the $15.1 million sale of Groton Shopper Mart, a 171,858-square-foot shopping center in Groton in southern coastal Connecticut. Big Y Supermarket anchors the center, which was 77 percent leased at the time of sale. Other tenants at the property include Starbucks Coffee, CVS/pharmacy and Chase Bank. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented both the buyer and seller in the transaction. Stephen Joseph and Stephen Hassenflu, also with Atlantic Capital Partners, …

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ArizonaInvestment salesNews

Commercial Retail Advisors Arranges Sale of 58,702-Square-Foot Retail Center in Tucson, Arizona

by Hayden Spiess

Tucson, Ariz. — Commercial Retail Advisors has arranged the sale of Oracle Gateway, a 58,702-square-foot retail center located in Tucson. Developed in 1986, the property was 94 percent occupied at the time of sale. A 22,901-square-foot office building is also located at the site and was not included in the sale. Craig Finfrock of Commercial Retail Advisors, Jan Fincham of Lee & Associates, Fred Howard of Progressive Property Management and Randy Finfrock of Southwest Retail Partners represented the seller, an entity doing business as 3838 Oracle Plaza Joint Venture LLC, in …

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FinanceFloridaGeorgiaGrocery-anchoredKentuckyNewsTennessee

CBRE Arranges $171.4 Million Refinancing for Shopping Center Portfolio in the Southeast

by Hayden Spiess

Atlanta — CBRE has arranged a $171.4 million loan for the refinancing of an eight-property portfolio of grocery-anchored shopping centers in the Southeast. Comprising roughly 1.2 million square feet, the portfolio was 96.6 percent leased at the time of financing to 194 tenants including Kroger, Publix and Whole Foods Market. PGIM provided the financing to the borrowers, Branch Properties and Corebridge Real Estate Investors (formerly AIG Global Real Estate). Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE arranged the loan, which was used to refinance the existing mortgages …

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