Richmond, Va. — An affiliate of Klein Enterprises has acquired The Row at GreenGate, a 100,000-square-foot shopping center located within the 75-acre GreenGate master-planned development in Richmond. Markel | Eagle sold the property in an off-market transaction. Built in 2017, the center is 94 percent leased to tenants including Lidl, Starbucks Coffee, Pure Barre, Purify, The Daily Kitchen & Bar, Red Salt Chophouse & Sushi and The Mellow Mushroom. Colliers represented the undisclosed seller in this transaction, and will continue to handle leasing of the property. JLL represented Klein in …
Julia Sanders
Altoona, Pa. — Axiom Realty has acquired Orchard Plaza, an 82,438-square-foot shopping center located in Altoona. MSC Retail represented the seller, Phillips Edison, in the sales transaction. Orchard Plaza is anchored by Big Lots Inc., and includes other tenants such as The American Red Cross, CosmoProf and The Salon Professional Academy. Built in 1986, Orchard Plaza is located just off Interstate 99.
Cary, N.C. — Hines and Columbia Development have signed four new tenants at Fenton, a 69-acre mixed-use project currently under construction in Cary. Vestique, Southern Tide, Archer Paper Goods and Club Pilates will open at the mixed-use property in April 2022. Vestique, a women’s clothing boutique, will open a 2,165-square-foot store; Southern Tide will open within a 1,726-square-foot space; Archer Paper Goods will open a 1,748-square-foot store; and Club Pilates will open a 1,845-square-foot studio. With the addition of these four new tenants, nearly 90 percent of the retail portion …
Tampa, Fla. — CBRE has arranged the sale of Fowler Plaza North, a 25,619-square-foot retail center in Tampa. Lote Group purchased the property for $7.7 million. Mark Shellabarger and Ari Ravi of CBRE represented the seller, Milestone Properties Inc., in the transaction. Located on Fowler Avenue near the University of South Florida, the center is home to tenants such as Chipotle Mexican Grill, Cosmo Prof, Pizza Hut, Boost Mobile, Surterra and Little Greek restaurant.
Fort Pierce, Fla. — Stan Johnson Co. has brokered the sale of Harbour Cay, a 10,530-square-foot shopping center located at 825 Seaway Drive in Fort Pierce. Jeff Enck and Mike Philbin of Stan Johnson Co. represented the seller, a Jupiter, Florida-based developer. An individual investor from Lighthouse Point, Florida purchased the property for $4.1 million. Harbour Cay is fully leased to seven tenants and features a mix of restaurant and service tenants. All tenants operate on triple net leases which commenced in 2021 at the time construction was completed.
Durham, N.C. — Newmark has secured $65.5 million in refinancing for University Hill, a mixed-use property in Durham with multifamily, retail and art uses. Josh Davis, Chris Caison and C.J. Webb of Newmark’s Debt and Structured Finance team secured the bridge financing on behalf of the project’s developer, Shoff Allison with Hawthorne Residential Partners, and Drake Real Estate Partners. Pacific Life Insurance Co. provided the financing, which included a floating rate loan with an initial term of three years and two, one-year extension options. Completed in 2020, University Hill offers …
Apollo Beach, Fla. — CBRE has brokered the sale of Mirabay Village, a 94,697-square-foot neighborhood shopping center anchored by Winn-Dixie in Apollo Beach. Dennis Carson, Casey Rosen, Mark Shellabarger and Ari Ravi of CBRE represented the undisclosed seller in the transaction. The buyer is an affiliate of Daytona Beach, Florida-based The Root Co. Located at 252 Harbor Village Lane, the property was 98 percent leased at the time of sale.
Kissimmee, Fla. — SRS’ Investment Properties Group has brokered the sale of Kissimmee Korners, an 83,340-square-foot shopping center located roughly 25 miles outside Orlando in Kissimmee. The seller, an entity doing business as Kissimmee Korners LLP, sold the property to an entity doing business as WWX2 LLC for $14.3 million. Kevin Yaryan, Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. Houwen Zhou of Lokation Real Estate represented the buyer. Kissimmee Korners includes two one-story, multi-tenant retail buildings and one medical office/retail building. The property was …
Birmingham, Ala. — Stan Johnson Co. has arranged the sale leaseback of Pilot Travel Center, a 9,790-square-foot convenience store located at 901 Bankhead Highway West in Birmingham. Matt Lipson and Mike Philbin of Stan Johnson Co. represented the buyer, Brodersen Management Corp. Mountain Express Oil Co. sold the property for $9.4 million. Built in 1995, the property includes a Wendy’s quick service restaurant onsite.
Elgin, Ill. — SVN | Chicago Commercial has brokered the sale of McLean Square, a 23,405-square-foot retail strip center located in the Chicago suburb of Elgin, for $2.7 million. Dollar Tree is the anchor tenant. David Coupe of SVN worked alongside Lee Kotler of Konnect Real Estate to reposition and lease up the asset, which had fallen into receivership. Buyer and seller information was not provided.