Gilbert, Ariz. — Newmark has arranged the sale of Centre at Higley-Williams Field, a shopping center located roughly 22 miles outside Phoenix in Gilbert. Bruce Galloway of Higley Evergreen sold the asset to Brandon Sparks of BedTech for $5.3 million. Built in 2004, Centre at Higley-Williams Field features 12,190 square feet of retail space leased to six tenants. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller and buyer in the deal.
Chicago — L3 Capital has acquired 1051 N. Rush, a 10,000-square-foot retail property in Chicago’s Gold Coast neighborhood. The purchase price was undisclosed. The two-level asset is fully leased to Vans and Uniform Teeth. Marol Rush was the seller. Keely Polczynski of CBRE brokered the transaction.
West Orange, N.J. — Three tenants are set to open at The Shoppes at Edison Village, a mixed-use development by Prism Capital Partners located roughly 18 miles outside New York City in West Orange. BK Lobster, SportsMed Physical Therapy and Golden Aide Health & Pharmacy will open in 2022. Fast casual restaurant BK Lobster will occupy a 3,000-square-foot space with outdoor seating; SportsMed Physical Therapy will open a 3,000-square-foot location; and Golden Aide Health & Pharmacy will occupy 1,700 square feet. Deb Stone of RIPCO Real Estate represented Prism in …
New York City — Starbucks Coffee and Amazon have opened a new store concept on 59th Street between Park & Lexington Avenues in New York City. The new concept combines Starbucks’ Pickup feature with Amazon Go, allowing customers to use the Starbucks app to order ahead as well as Amazon’s ‘Just Walk Out’ technology for an easier checkout experience. The store also features a modern lounge with individual workspaces and bigger tables with power outlets and USB ports. Additionally, the Starbucks Pickup with Amazon Go store offers the full Starbucks …
Haines City, Fla. — Marcus & Millichap has brokered the $13.8 million sale of Heart of Florida Shopping Center, a 131,501-square-foot retail property located in Haines City, about 23 miles from Lakeland. Tim Giambrone of Marcus & Millichap marketed the property on behalf of the seller, an undisclosed private investor. Giambrone also secured and represented the buyer, another undisclosed private investor. Ryan Nee of Marcus & Millichap assisted in closing the transaction. The property’s tenants include Big Lots, Tractor Supply and Dollar General Market.
Chandler, Ariz. — FAT (Fresh. Authentic. Tasty.) Brands Inc. has agreed to acquire Native Grill & Wings, a Chandler, Arizona-based restaurant chain, for $20 million. The seller was Wingtime LLC, a subsidiary of Cybeck Capital Partners LLC. FAT Brands will fund the acquisition with cash from the issuance of new notes from the company’s securitization facilities. The transaction is expected to close in December. Foley & Lardner LLP acted as legal counsel for FAT Brands, and Taft Stettinius & Hollister LLP acted as legal counsel for Wing Time. FAT Brands …
El Cajon, Calif. — La Maestra Family Clinic has purchased a multi-tenant retail center located at 1242-1248 E. Main St. in El Cajon, roughly 17 miles outside San Diego. Main Street Trust sold the asset for $6.4 million. The buyer plans to convert the vacant, 22,694-square-foot retail center into a community health center. Mike Conger and Brian Jenkins of Commercial Asset Advisors represented the seller, while Keith Edwards of Keller Williams Realty Metro represented the buyer in the deal.
Zion Crossroads, Va. — Cushman & Wakefield | Thalhimer has arranged the $4.9 million sale of Freedom Drive Shops, a 10,296-square-foot retail strip center in Zion Crossroads, about 17 miles from Charlottesville. The property is fully leased to tenants such as Dunkin’ Donuts and Anytime Fitness. The sale also included adjoining land for future development totaling approximately 3.5 acres on Freedom Drive at Route 15. L&D Land Trust purchased the retail center and surplus land from an entity known as Freedom Drive Shops LLC. Catharine Spangler and John Pritzlaff of …
Woonsocket, R.I. — CVS Health Corp. (NYSE: CVS) plans to close about 900 stores over the next three years, or about 300 stores a year, starting in the spring of 2022. The pharmacy retailer says the decision to close its stores was in order to focus more on its digital strategy. The store closures equal about 9 percent of the approximately 10,000 locations that the retailer currently operates. CVS says it will help those who lose their jobs as a result of the store closures to find a different role …
Atlanta — Phase II of development is currently under way on The Interlock, a $450 million mixed-use project located in the Midtown neighborhood of Atlanta. Developed by SJC Ventures, the new phase will include a 42,500-square-foot Publix grocery store, 186,000 square feet of office space, 40,000 square feet of retail and a student housing community serving students attending nearby Georgia Tech. Phase I of the project features 200,000 square feet of technology-focused office space; 105,000 square feet of retail and restaurant space; 349 luxury apartments; 18 townhomes; 70 single family …
