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Julia Sanders

Shops at Vista Ridge
Investment salesNewsTexas

Weitzman Arranges Sale of 74,837-Square-Foot Shops at Vista Ridge Retail Center in Metro Dallas

by Julia Sanders

Lewisville, Texas — Weitzman has arranged the sale of The Shops at Vista Ridge, a 74,837-square-foot retail center located in the northern Dallas suburb of Lewisville. Texas Family Fitness and Harbor Freight Tools anchor the center, which is home to tenants including JC, McAlister’s Deli, Smoothie King and Hobbytown USA. Matthew Rosenfeld, Kevin Butkus and Giovanni Scardino of Weitzman handled negotiations on behalf of the sellers, a partnership between Lamar Cos. and Real Capital Solutions. The buyer was an undisclosed, locally based investment group.

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Monroe Marketplace
Investment salesNewsPennsylvania

JLL Arranges $44.8 Million Sale of Monroe Marketplace in Central Pennsylvania

by Julia Sanders

Selinsgrove, Penn. — JLL Capital Markets has arranged the $44.8 million sale of Monroe Marketplace, a 372,794-square-foot, grocery-anchored shopping center located in the central Pennsylvania community of Selinsgrove. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, an undisclosed institutional investor, in the disposition of the property to Acadia Realty Trust. Tenants at Monroe Marketplace include GIANT Food Stores, T.J. Maxx, Dick’s Sporting Goods, Kohl’s, Ross, Old Navy, PetSmart, Buffalo Wild Wings, Longhorn Steakhouse, Michael’s, Sally Beauty and Ulta Beauty. The center is also shadow-anchored by Target.

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Investment salesNewsTexas

NewQuest Properties Brokers Sale of 186,880-Square-Foot Shopping Center in El Paso

by Julia Sanders

El Paso, Texas — NewQuest Properties has brokered the sale of Sunrise Village Center, a 186,880-square-foot shopping center located near Fort Bliss in El Paso. Sunrise Village Center was originally built in 1957 and was 44 percent leased at the time of sale to tenants including Dollar General, Sally’s Beauty Supply and Black Fridays Daily Discount Store. The buyer, which plans to redevelop the property, was a private investor doing business as JMK5 Holdings LLC. The seller was a family trust and original owner of the property. David Luther, Kelley …

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North Providence Marketplace
Investment salesMarylandNewsRhode Island

Greenberg Gibbons Acquires Two Shopping Centers in Rhode Island, Maryland for $34.6 Million

by Julia Sanders

North Providence, RI. and Westminster, Md. — Greenberg Gibbons has acquired two shopping centers located in Rhode Island and Maryland for $34.6 million. Acquisitions include North Providence Marketplace, a 112,000-square-foot grocery-anchored center located in North Providence, Rhode Island; and Westminster Crossing East, a 92,000-square-foot shopping center located in the Carroll County community of Westminster, Maryland. North Providence Marketplace was 82 percent leased at the time of sale to tenants including Shaw’s Grocery Store, Dollar Tree, Sally Beauty Supply, H&R Block and EbLens. Tenants including Marshalls, Bed Bath & Beyond, Ulta …

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Promenade Shoppes
FloridaInvestment salesNews

Franklin Street Brokers $13.6 Million Sale of Promenade Shoppes in North Lauderdale

by Julia Sanders

North Lauderdale, Fla. — Franklin Street has arranged the $13.6 million sale of Promenade Shoppes, a 39,650-square-foot shopping center in North Lauderdale. Adam Tiktin and Greg Matus of Franklin Street represented the seller, Arena North Lauderdale Shoppes LLC, in the disposition of the property to Zenix Properties LLC. Built in 2018, the center was fully occupied at the time of sale by 17 tenants, including SunSouth Health Center, T-Mobile, Cricket Wireless and Sarku Japan.

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Sprouts
ArizonaDevelopmentNews

Thompson Thrift Completes 23,000-Square-Foot Sprouts Farmers Market in Maricopa, Arizona

by Julia Sanders

Maricopa, Ariz. — Thompson Thrift has completed the development of a 23,000-square-foot Sprouts Farmers Market store in Maricopa. The property was designed by Nadel Architecture + Planning to better facilitate “click-and-collect” shopping, which allows customers to buy their groceries online and pick them up in-store or have them delivered to their homes through delivery services such as Instacart. The new model features a “click-and-collect” room at the front of the store with refrigerators for perishable food and heaters for prepared food where shoppers and delivery services can collect orders. Nadel …

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Company newsMichiganNews

Kmart to Close Last Store in State of Michigan

by Julia Sanders

Marshall, Mich. — Kmart is closing its final store in the state of Michigan, according to local media reports. The last remaining store is in Marshall, which is located just east of Battle Creek and about 45 miles south of Lansing. The store is expected to close in November. Kmart opened its first location in Garden City, Michigan, in 1962. At its prime in the 1990s, Kmart operated more than 2,300 locations in the United States. The current parent company of Kmart, Transformco, also owns Sears, which recently unveiled plans …

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ArkansasCompany newsNews

Walmart Plans to Hire 150,000 Associates in Preparation for Holiday Season

by Julia Sanders

Bentonville, Ark. — Walmart, has released plans to hire approximately 150,000 new store associates, with most of the job positions being permanent and full-time. The Bentonville, Arkansas-based retailer wants to hire new employees ahead of the holiday season to ensure its stores are highly staffed for the predicted busy months. This July, the discount retailer announced its education program called Live Better U, in which it will invest approximately $1 billion over the next five years to pay for college tuition and books for its employees. Walmart also offers an …

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Machan
SCBlog

Tricky Issues Impact Shopping Center Property Taxes

by Julia Sanders

By: Nick Machan Property tax assessments of shopping centers and other retail real estate may not capture the full extent of value losses those properties sustained in 2020. To avoid paying more than their fair share of taxes, it is important for retail owners to examine how market conditions affect each aspect of the tax assessor’s approach to valuing their real estate. In most jurisdictions, assessors value real estate for property taxes as of Jan. 1 of each calendar year. Most appraisal districts assess retail properties at market value derived …

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Adams Dairy Landing
Investment salesMissouriNews

JLL Brokers Sale of Adam’s Dairy Landing Shopping Center in Metro Kansas City

by Julia Sanders

Blue Spring, Mo. — JLL Capital Markets has brokered the sale of Adam’s Dairy Landing, a 279,843-square-foot open-air shopping center in the Kansas City suburb of Blue Spring. The property is 96 percent leased to tenants such as TJ Maxx, HomeGoods, Dollar Tree, Ross Dress for Less, Petco, Michaels, Old Navy, Ulta Beauty and Five Below. Built in 2010, the shopping center sits on more than 33 acres at 800 NE Coronado Drive. Clinton Mitchell, Amy Sands, Michael Nieder and Jim Gates of JLL represented the seller, a private investment …

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