Austin, Texas — Edens has purchased Springdale Shopping Center, a 163,145-square-foot, grocery-anchored retail property in Austin. Regional grocer H-E-B is the anchor tenant at the center, which was fully leased at the time of sale. Other tenants include Ross Dress for Less, dd’s, Dollar Tree, O’Reilly Auto Parts, Subway, KFC and Wingstop. Chris Gerard, Ryan Shore, Clint Coe, Erin Lazarus and Zach Riebe of JLL represented the seller, Forge Capital Partners, in the transaction.
Parma Heights, Ohio — DealPoint Merrill has purchased The Shops at Pearl & 130th in Parma Heights, a western suburb of Cleveland. The purchase price was undisclosed. DealPoint Merrill plans to embark on a $10 million renovation project for the 155,805-square-foot shopping center. Construction is scheduled to begin in the first quarter of 2022. This will be the fourth major construction project launched by DealPoint Merrill in the Cleveland area. DealPoint Merrill’s David Frank and Sterling McGregor handled the due diligence and financing, while Jason Limbert and Tyler Bendicksen completed …
Sandy Springs, Ga. — First National Realty Partners has acquired City Center Crossing, a grocery-anchored shopping center located at 6331 Roswell Road in Sandy Springs, a northern suburb of Atlanta. City Center Crossing is a 98,408-square-foot asset that is 77 percent occupied. A 27,858-square-foot Lidl Supermarket that opened in May 2020 anchors the property. The seller and price were not disclosed. “We are extremely excited to not only acquire our first asset in the Atlanta Market but to also add Lidl to our portfolio, one of the most rapidly growing …
Souderton, Pa. — Select Properties Inc. has begun construction on Towne Gate Commons, a $40 million mixed-use project in Souderton, about 40 miles north of Philadelphia. Located at the site of the former Souderton Area High School, Towne Gate Commons will include 66 new three-bedroom townhomes with private balconies and two-car garages. The new residences will add to the 74 townhomes that were completed and leased in 2019 under the first phase of the project. Towne Gate Commons will also offer dining options, retail space, a public park with an …
Madison, Ala. — JLL Capital Markets has arranged the $19.2 million sale of Madison Commons, a 75,340-square-foot shopping center located roughly 11 miles outside Huntsville in Madison. JRW Realty sourced the deal on behalf of the buyer, ExchangeRight. Brad Peterson, Whitaker Leonhardt, Jim Hamilton, Brad Buchanan, Andrew Michols and Michael Brewster of JLL represented the seller, Michael Collard Properties. Publix anchors Madison Commons, which was 92 percent occupied at the time of sale by tenants including Easy Vet Clinic, Golden China, ATI Physical Therapy, Goodwill, Primp and Posh Nail and …
Palm Springs, Fla. — CBRE has arranged the $3.8 million sale of Capitol Mall, a mixed-use property located at 3745 South Congress Ave. in Palm Springs. Capitol Mall consists of a 23,698-square-foot multi-tenant retail building and a 7,250-square-foot warehouse. A South Florida-based private investor operating under the name Capitol Mall LLC acquired the property from Congressional Developers Inc. David Donnellan and Patricia Friend of CBRE represented the buyer in the transaction.
Washington, D.C. — JLL Capital Markets has arranged the sale of a portfolio of eight infill neighborhood retail assets totaling 695,991 square feet in Washington, D.C., northern Virginia and southern Maryland. Stephen Conley, Danny Finkle, Jordan Lex and Kim Flores of JLL represented the D.C.-based seller, WashREIT (NYSE: WRE), which sold the portfolio for $168.3 million. The buyers were Rosenthal Properties and an undisclosed institutional partner, according to the Washington Business Journal. The news outlet also reports the seller had acquired the eight properties over the span of five decades. …
Decatur, Ga. — CBRE has arranged the sale of North Dekalb Mall in Decatur, about 8.6 miles east of downtown Atlanta. Sterling Organization sold the property for an undisclosed price. The buyer, EDENS, plans to redevelop the mall into a mixed-use property, according to The Atlanta Journal-Constitution. Located at 2050 Lawrenceville Highway, North Dekalb Mall is located on 76.7 acres at the intersection of Lawrenceville Highway and North Druid Hills Road. The enclosed mall’s tenants include AMC Theatres, Dollar Tree, Burlington and Marshalls. AMC Theatres has a maximum of six …
Greensboro, N.C. — Marcus & Millichap has brokered the sale of West Market Shopping Center, a 152,030-square-foot, Food Lion-anchored retail property in Greensboro. The property sold for $9.1 million. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Built in 1963, West Market Shopping Center is located at 4637-4653 W. Market St. The property’s tenant roster includes Cato, Strength & Body and Reconsidered Goods.
Surprise, Ariz. — Boros Investments has completed the disposition of Grand Village Center, a retail property located at 14273 and 14291 W. Grand Ave. in Surprise. LJ Mainstreet Holdings acquired the center for $5 million. The 25,653-square-foot property is fully leased to eight tenants, including Church for the Nations, Zona Communications, D’Ambrosio, Full Service Salon and Master Taco Restaurant. The buyer also acquired two adjacent undeveloped land parcels from a different seller and plans to build additional retail buildings on the site. Steve Julius, Jesse Goldsmith and Chase Dorsett of …
