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Julia Sanders

North Mayfair Commons
IllinoisInvestment salesNews

Sterling Organization Acquires Grocery-Anchored Shopping Center in Chicago for $18.2 Million

by Julia Sanders

Chicago — Sterling Organization has acquired North Mayfair Commons, an 87,274-square-foot grocery-anchored shopping center in the North Mayfair neighborhood of Chicago, for $18.2 million. A 65,224-square-foot Jewel-Osco grocery store anchors the property. Other tenants include H&R Block and FedEx Kinko’s. Sterling Organization utilized its fund named Sterling United Properties II LP to purchase the property. The fund’s portfolio now spans approximately 1.2 million square feet of gross leasable area.

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Fresh Market Village
FinanceFloridaNews

Northmarq Secures $16.8 Million Acquisition Loan for Grocery-Anchored Center in Metro Palm Beach

by Julia Sanders

Jupiter, Fla. — Northmarq has secured $16.8 million in acquisition financing for Fresh Market Village, a 55,046-square-foot, grocery-anchored retail property in Jupiter, about 19 miles from Palm Beach. Daniel Karp of Northmarq arranged the financing, which included a 10-year term with three years of interest-only payments followed by a 30-year amortization schedule. Northmarq secured the permanent, fixed-rate loan on behalf of the undisclosed borrower through its relationship with an unnamed life insurance company. Built in 1989 and last renovated in 2014, the property is anchored by The Fresh Market.

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Publix at Bristol Park
AlabamaInvestment salesNews

Cushman & Wakefield Arranges $14.9 Million Sale of Publix at Bristol Park in Metro Tuscaloosa

by Julia Sanders

Northport, Ala. — Cushman & Wakefield has arranged the $14.9 million sale of Publix at Bristol Park, a 58,887-square-foot, grocery-anchored shopping center in Northport, about 1.6 miles from Tuscaloosa. Margaret Jones and Lane Breedlove of Cushman & Wakefield represented the seller, Watkins Real Estate Group, in the transaction. The buyer was not disclosed. The center was 96 percent leased at the time of sale to tenants including Publix, Great Clips, Dos Amigos Mexican Restaurant, a nail salon and a wine and liquor store. The property was built in 2019 and …

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MV retail
DevelopmentFloridaNews

MV Group to Redevelop Two Retail Centers in Downtown Miami Springs

by Julia Sanders

Miami Springs, Fla. — MV Group USA has plans to redevelop two undisclosed retail centers totaling 30,000 square feet in downtown Miami Springs. The redevelopment efforts will include the addition of outdoor seating and enhancements to existing retail and restaurant space. The project is scheduled for completion by the end of the year. The renovated retail spaces will feature some of the existing tenants that have renewed long-term leases at the properties. Additionally, new restaurant tenants will be opening at the centers in fall 2022.

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Shoppes at East Stone
Investment salesNewsTennessee

Marcus & Millichap Brokers Sale of 24,502-Square-Foot Retail Property in Northern Tennessee

by Julia Sanders

Kingsport, Tenn. — Marcus & Millichap has brokered the $4.5 million sale of Shoppes at East Stone, a 24,502-square-foot retail property located at 2637 E. Stone Drive in Kingsport. Michael Early of Marcus & Millichap represented the seller, an undisclosed family trust, and secured the buyer, a Maryland-based real estate investment corporation. Jody McKibben, also of Marcus & Millichap, assisted in closing the transaction. Shoppes at East Stone was occupied by tenants including Polish Nail Bar, East Coast Wings + Grill, LL Flooring and Hertz Car Rental at the time …

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University Mall
Investment salesNewsVermont

Taconic Capital Advisors, Eastern Real Estate Acquire 617,000-Square-Foot University Mall in Vermont

by Julia Sanders

South Burlington, Vt. — A partnership between Taconic Capital Advisors and Eastern Real Estate has acquired University Mall in South Burlington, a city in northwest Vermont. The 617,000-square-foot property is the largest mall in the state. Local news outlet WCAX reported that the sales price was $60 million. The seller was not provided. The new owners say they are exploring a range of plans to reenergize the shopping center, which is located less than one mile from the University of Vermont, The University of Vermont Medical Center and Burlington International …

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Macy's Backstage
LeasingNew YorkNews

Macy’s to Open 37 Backstage Store-Within-Store Locations in Spring 2022

by Julia Sanders

New York City — Macy’s plans to open 37 Backstage store-within-stores in locations nationwide beginning April 9. The Backstage concept ranges from 11,000 to 16,000 square feet, offering off-price, trendy apparel for women, men and children, as well as a range of toys, housewares, beauty products, designer handbags, activewear and gifts for pets. The new locations include a Backstage store within Macy’s State Street flagship store in Chicago, which will open on April 9; and a store at Macy’s New York City flagship store in Herald Square, set to open …

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Clinton Plaza
Investment salesNewsTennessee

SRS Brokers Sale of 126,145-Square-Foot Shopping Center in Knoxville

by Julia Sanders

Knoxville, Tenn. — SRS’ Investment Properties Group has brokered the sale of Clinton Plaza, a 126,145-square-foot grocery-anchored neighborhood center in Knoxville. LBD Properties LLC purchased the property. Kyle Stonis and Pierce Mayson of the SRS represented the undisclosed seller in the transaction. The buyer was self-represented in the transaction. Anchored by Food City, Clinton Plaza has other tenants at the property including Advance Auto Parts, Dollar Tree, Gas ‘N Go, Rent-A-Center, ADMA Biologics, Metro by T-Mobile, 1st Heritage Credit and Cricket Wireless.

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Backlick Center
Investment salesNewsVirginia

Cushman & Wakefield Arranges $25 Million Sale of Shopping Center in Metro D.C.

by Julia Sanders

Springfield, Va. — Cushman & Wakefield has arranged the sale of Backlick Center, a 48,267-square-foot shopping center in Springfield, about 14 miles from Washington, D.C. John Owendoff of Cushman & Wakefield represented the seller, a Dallas-based real estate fund advised by Crow Holdings Capital, in the transaction. Glazer Properties acquired the property for $25 million. Backlick Center was 91 percent leased at the time of sale to tenants including Chick-fil-A, Advance Auto Parts, Outback Steakhouse and Taco Bamba.

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Essex Square
Investment salesNewsWisconsin

Next Realty Acquires 44,000-Square-Foot Essex Square Retail Center in Madison, Wisconsin

by Julia Sanders

Madison, Wis. — An affiliate of Next Realty LLC has acquired Essex Square, a 44,000-square-foot retail center in Madison. The property was home to 15 tenants at the time of sale, including Concentra Health Services, Half Price Books, The Camera Store, Allstate, Great Clips and MOKA Coffee. Built in 1987 and located along East Towne Boulevard, Essex Square is situated adjacent to the 790,000-square-foot East Towne Mall. Landmark Credit Union provided acquisition financing.

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