Tuesday, June 10, 2025
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Julia Sanders

Marketplace Shopping Center
Investment salesMissouriNews

Investors Realty Brokers $20.3 Million Sale of Shopping Center Near Kansas City

by Julia Sanders

Independence, Mo. — Investors Realty Inc. has brokered the $20.3 million sale of Marketplace Shopping Center in Independence, just east of Kansas City. The 253,000-square-foot shopping center is 91 percent leased. Anchor tenant Price Chopper has occupied the property for 34 years. Other tenants include Petco, Big Lots, Viva Fashion and FedEx. Ember Grummons of Investors Realty represented the seller, a partnership between Walton Street Capital and NewQuest Epic. Grummons also procured the buyer, Wichita-based HJH Investments.

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Covington Town Center
FinanceGeorgiaNews

TrueRate Services Arranges $9.3 Million Refinancing for Mixed-Use Development in Metro Atlanta

by Julia Sanders

Covington, Ga. — TrueRate Services has arranged a $9.3 million refinancing for the final phase of Covington Town Center, a mixed-use development spanning 180 acres in Covington, roughly 35 miles east of Atlanta. Dan Gorczycki of TrueRate secured the financing through Thorofare Capital on behalf of the sponsor, an entity doing business as Covington Town Center LLC. The loan will be used for vacant retail parcels within the Town Center. Comprising 54.5 acres, the final phase of Covington Town Center includes retail outparcels that will be sold to individual retailer. …

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Fireside Mall
Company newsNewsOhio

Washington Prime Group Files for Chapter 11 Bankruptcy Amid Pandemic-Related Struggles

by Julia Sanders

Columbus, Ohio — Washington Prime Group (NYSE: WPG), an Ohio-based owner-operator of regional malls and shopping centers, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. WPG cited insurmountable operating challenges tied to the COVID-19 pandemic as the primary catalyst behind the move. Against that backdrop, both CNBC and Reuters reported that many of the company’s tenants were unable to pay rent at various points in time over the last 16 months as public health mandates and lockdowns decimated foot traffic throughout …

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Main Street Place
DevelopmentNewsWashington

Hines, Benenson Capital Partners, USAA Plan 1.2 Million-Square-Foot Mixed-Use Development in Metro Seattle

by Julia Sanders

Bellevue, Wash. — Hines, Benenson Capital Partners and USAA Real Estate have unveiled plans for Main Street Place, a 6.8-acre, mixed-use development in downtown Bellevue. Development costs were not disclosed. Main Street Place will feature approximately 1.2 million square feet of newly built high-rise office space on the north side of the site, along with about 400 units of low-rise apartments on the south side of the development. Additionally, there will be about 90,000 square feet of ground-floor retail and amenity spaces, along with public open space and pedestrian-friendly areas. …

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Roswell Market Place
GeorgiaInvestment salesNews

JLL Brokers $37.6 Million Sale of Sprouts-Anchored Shopping Center in Roswell, Georgia

by Julia Sanders

Roswell, Ga. — JLL Capital Markets has brokered the $37.6 million sale of Roswell Market Place, a fully leased, 95,522-square-foot shopping center in the metro Atlanta city of Roswell. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the locally based seller, Branch Properties LLC, in the sale. East Coast Acquisitions purchased the property. Roswell Market Place is located at 10800 Alpharetta Highway. Built in 1986 and most recently renovated in 2015 and 2016, the center is anchored by Sprouts Farmers Market. The tenant roster also includes Starbucks, Chipotle, …

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Delray Commons
FloridaInvestment salesNews

PEBB Enterprises, Topvalco Acquire Delray Commons Shopping Center in South Florida for $10.5 Million

by Julia Sanders

Delray Beach, Fla. — PEBB Enterprises has acquired Delray Commons, a 71,000-square-foot shopping center located at 5024-5070 W. Atlantic Ave. in Delray Beach. Boca Raton, Fla.-based PEBB formed a joint venture dubbed KP Delray LLC with the center’s current owner, Cincinnati-based Topvalco Inc., for the acquisition. The sales price was $10.5 million. Built in 1981, Delray Commons has 65,940 square feet of inline retail space, a 3,036-square-foot Burger King outparcel and an approximately 2,000-square-foot Taco Bell outparcel. Sprouts Farmers Market has committed to anchor the center with a 23,256-square-foot store. …

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EoS Fitness
ArizonaInvestment salesNews

Marcus & Millichap Brokers $9.6 Million Sale of EoS Fitness-Occupied Property in Tempe

by Julia Sanders

Tempe, Ariz. — Marcus & Millichap has arranged the sale of retail property located at 1727 W. Ranch Road in Tempe. MAR Group acquired the asset from a private preferred developer of EoS Fitness for $9.6 million. EoS Fitness occupies the 38,000-square-foot property under a net lease agreement. Mark Thiel of Marcus & Millichap represented the seller and procured the buyer. Ryan Sarbinoff of Marcus & Millichap’s Phoenix office served as broker of record.

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Cambridge Crossing
LeasingMassachusettsNews

REI to Open Small-Format Store at Cambridge Crossing in Massachusetts

by Julia Sanders

Cambridge, Mass. — Outdoor apparel and equipment retailer REI will open an 8,000-square-foot store at Cambridge Crossing, a 43-acre mixed-use development located at the junction of Boston, Cambridge and Somerville. The opening of the store, which is scheduled for this fall, represents the launch of REI’s new small-format prototype. The store will be located in a newly constructed office and retail building. San Francisco-based DivcoWest is the master developer of Cambridge Crossing.

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Habit Burger Grill
ArizonaInvestment salesNews

Marcus & Millichap Brokers $2.2 Million Sale of Habit Burger Grill-Occupied Building in Phoenix

by Julia Sanders

Phoenix — Marcus & Millichap has arranged the sale of a restaurant property located at 745 E. Glendale Ave. in Phoenix. A limited liability company sold the asset to a private trust for $2.2 million. Habit Burger Grill occupies the 1,891-square-foot building, which was built in 1973, on a net lease basis. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller and procured the buyer in the deal.

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Verde at Cooley Station
ArizonaFinanceNews

Parkview Provides $28 Million Construction Loan for Verde at Cooley Station in Gilbert, Arizona

by Julia Sanders

Gilbert, Ariz. — Parkview Financial has provided a $28 million construction loan to Verde Gilbert LLC for the development of Verde at Cooley Station, a lifestyle center located at 17201-17361 E. Williams Field Road in Gilbert. Verde Gilbert LLC is a joint venture between three development companies led by SB2 Communities. Upon completion, the 10-building, 96,000-square-foot property will offer 44,000 square feet of retail space, 13,000 square feet of office space, 31,000 square feet of restaurant space and 8,000 square feet of fitness space. Designed to be a restaurant-centric, mixed-used …

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