Ames, Iowa — NAI Legacy has acquired a newly built, 27,490-square-foot retail property occupied by Hy-Vee just outside of Ames for $6.8 million. The Hy-Vee | Dollar Fresh store serves as one of the grocer’s new concepts, which offers discounted products, perishable goods, meats and a pharmacy. This store concept is being developed in more rural Iowa locations, according to NAI Legacy, which acquired the asset from the developer, Embree Group.
Atlanta — GID Development Group has broken ground on the first phase of High Street, a $2 billion, 36-acre mixed-use development in Atlanta’s Central Perimeter. Phase I of High Street will deliver 150,000 square feet of retail and restaurants and an approximately 7,500-square-foot lawn. Located at the intersection of Perimeter Center Parkway and Hammond Drive, High Street will be situated close to the Dunwoody MARTA Station. Upon completion of all phases, High Street will encompass 672,000 square feet of Class A office space, a 400-key hotel, 400,000 square feet of …
Philadelphia — Finmarc Management Inc. and KPR have sold Red Lion Plaza, a 240,000-square-foot center located in Philadelphia, for $56.5 million. Jim Galbally, Chris Munley and Colin Behr of JLL represented Finmarc in the transaction. The buyers were not disclosed. Built in 1962, Red Lion Plaza was 97 percent leased at the time of the sale to tenants including Burlington, Pep Boys Auto, Planet Fitness, Ross Dress for Less and the Independent Physicians Medical Center. An undisclosed national grocery store is set to open within a 46,000-square-foot space at the …
Pottsville, Pa. — Namdar Realty Group has sold Cressona Mall, a 283,553-square-foot shopping center in Pottsville. The center was 90 percent leased at the time of sale to tenants such as Giant Food, Planet Fitness, Ollie’s, Staples and Dollar General. The buyer and sales price were not disclosed. Jonathan Abda and Andrew Ebrani of Namdar represented the firm on an internal basis in the transaction. Cale Powers of Trinity RE Investment Services brokered the deal.
West Palm Beach, Fla. — CBRE has arranged the $6.5 million sale of Palm Beach Place, a 33,196-square-foot retail center in West Palm Beach. David Donnellan and Patricia Friend of CBRE represented the seller, Harland Properties, in the disposition of the property to an undisclosed private investor. Built in 1981, Palm Beach Place was formerly known as West Palm Beach Merchandise Mart. The property is fully leased to tenants including L&D Beauty Supply Inc., Dan’s Fan City, Sherwin-Williams, Uniforms of WPB, Quantum Benefit Group Inc and Hospice of PB County …
Boston — New England Development, in partnership with Stop & Shop, Bozzuto and Southside Investment Partners, will soon break ground on Allston Yards, a 1.2 million-square-foot mixed-use project in the Allston neighborhood of Boston. The site currently houses an older but still-operating Stop & Shop store and parking lots, which will be redeveloped. Built in multiple phases, Allston Yards will feature a 165-unit apartment building; a new Stop & Shop grocery store; 117,000 square feet of retail and restaurant space; 350,000 square feet of office and lab space; and a …
Medina, Ohio — Nassimi Realty has acquired Medina Grande Shops, a 150,288-square-foot shopping center located roughly 30 miles outside Cleveland in Medina. Tenants at the property include Ashley HomeStore, PetSmart, Jo-Ann Stores, FedEx Kinko and Dental One. CBRE represented the undisclosed seller in the transaction.
Charlottesville, Va. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the sale of Rio Roads Shops, a 14,696-square-foot retail strip center located in Charlottesville. Catharine Spangler of Cushman & Wakefield | Thalhimer represented the seller, Rio Road Shops LLC. A private, Richmond-based investment firm acquired the property for $7.2 million as part of a 1031 exchange. The center is fully leased to five tenants, including Verizon, Jimmy Johns, Mattress Firm, SportClips and Vitamin Shoppe.
Middleton, Wis. — Marcus & Millichap has arranged the $3.1 million sale of Cornerstone Mall in Middleton, a northwest suburb of Madison. The 18,733-square-foot retail property is located at 2831 Parmenter St. and was 92 percent leased at the time of sale to tenants such as Hurts Donut Co. and Jet’s Pizza. Austin Weisenbeck, Sean Sharko and Marc Sitzer of Marcus & Millichap represented the seller, a limited liability company. The buyer was undisclosed.
Staten Island, NY. — Kimco Realty Corp. has signed 14 new tenants to The Boulevard on Staten Island, an open-air retail center in Staten Island. Applebee’s, Old Navy, Party City, Spectrum, Urban Planet and Sterling Optical have opened at the property. Lobo Loco, Panera Bread, On a Roll, Hawaii Poke Bowl, Menchie’s Frozen Yogurt, Greek Xpress and Tropical Smoothie Café and jewelry retailer Michael’s Jewelry of NY are set to open within the next few months. During the first quarter of 2022, Alamo Drafthouse Cinema, New China Hibachi, Sese Spa, …