Georgetown, Texas — Disney Investment Group (DIG) has negotiated the sale of Republic Square, a 113,772-square-foot shopping center located in the northern Austin suburb of Georgetown. At the time of sale, the center was roughly 93 percent leased to a roster of 31 tenants that includes Dollar Tree, Harbor Freight, Starbucks Coffee, Chipotle Mexican Grill and Pizza Hut. David Disney and Adam Crockett of DIG represented the seller, LRIC Properties, in the transaction and procured a California-based private partnership as the buyer.
Pittsburg, Kan. — Marshalls will open a 25,000-square-foot store at Pittsburg Town Center in Pittsburg, a city in Southeast Kansas. Other tenants at the property include The Home Depot, Chili’s, Buffalo Wild Wings and UPS. David Block and Phil Peck of Block & Co. Inc. Realtors negotiated the lease transaction on behalf of the undisclosed ownership group. Block & Co. also manages the property.
Sacramento, Calif. — Pine Tree, in partnership with a U.S. pension fund, has purchased Delta Shores, a shopping center in Sacramento, for $122.5 million. Completed in 2017, Delta Shores features 414,658 square feet of retail space. Tenants at the time of sale included Dick’s Sporting Goods, Hobby Lobby, Ross Dress for Less, PetSmart and Ulta Beauty. The shopping center is part of the 800-acre Delta Shores master-planned development located 10 miles south of downtown Sacramento and immediately adjacent to Interstate 5. Eastdil Secured represented Pine Tree in the transaction.
Oviedo, Fla. — JLL Capital Markets has arranged the sale of Oviedo Park Crossing, a 186,212-square-foot retail center located roughly 16 miles northeast of Orlando in Oviedo. The open-air property was fully leased at the time of sale to tenants including Bed Bath & Beyond, TJ Maxx, Ross Dress for Less, Michaels, Office Depot, PetSmart, Shoe Carnival, Sally Beauty Supply, America’s Best Contacts and Phenix Salon Suites. The center is situated on 29 acres at 1115 Vidina Place, and was completed in 1999 and renovated in 2019. Brad Peterson and …
Oklahoma City — A joint venture between DRA Advisors and RCG Ventures has sold 240 Penn Park, a 241,831-square-foot retail center located in Oklahoma City. Completed in 2006, the property was 99 percent leased at the time of sale to tenants including Marshalls, Ross Dress for Less, Michaels, PetSmart, Best Buy, Mardel, Saltgrass, Lane Bryant, Five Below, Charleston’s Restaurant and GNC. Ryan Shore, Chris Gerard, Greyson Fewin and Pauli Kerr of JLL represented the seller in the disposition of the property to Mazaheri Properties for an undisclosed price. The center …
Gainesville, Fla. — CBRE has brokered the sale of Gainesville Shopping Center, a 182,298-square-foot, Publix-anchored shopping center in Gainesville. An affiliate of Essential Growth Properties purchased the asset from a joint venture between Forge Capital Partners and Sembler for an undisclosed price. Casey Rosen and Dennis Carson of CBRE represented the seller in the transaction. Situated along North Main Street near downtown Gainesville and the University of Florida, Gainesville Shopping Center’s tenant roster includes Citi Trends, Mainstreet Beauty Max and Career Source Florida.
New York City — Vanbarton Group has sold a 23,339-square-foot retail assemblage in the Morrisania neighborhood of The Bronx for $22.7 million. The sites collectively span a full block and are located at 1031-1049 Westchester Ave. and 1057 Southern Blvd. Josh Neustadter and Jonathan Squires of Cushman & Wakefield represented Vanbarton Group in the transaction. Jason Gold, Victor Sozio and Daniel Mahfar of Ariel Property Advisors represented the buyer.
La Verne, Calif. — Faris Lee Investments has arranged the $17.3 million sale of La Verne Plaza, a retail center located in the Los Angeles County community of La Verne. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller and procured the San Gabriel Valley-based buyer in the all-cash transaction. The property is shadow-anchored by Stater Brothers and In-N-Out Burger.
Beverly, Mass. — Aubuchon Realty Co. (ARC) has acquired Dodge Crossing, a 21,350-square-foot retail center located in the Boston suburb of Beverly, for $6.6 million. Citizens Bank and Mattress Firm anchor the property, which was constructed in 1973 at the intersection of Enon Street and Dodge Street. The seller in the all-cash transaction was undisclosed.
Chattanooga, Tenn. — Nordstrom Inc. plans to open a new Nordstrom Rack store at The Terrace at Hamilton Place, an open-air shopping center located at the intersection of Shallowford Road and I-75 in Chattanooga. This will be the third Nordstrom Rack and fourth Nordstrom concept in Tennessee. CBL Properties owns and manages Hamilton Place, which houses retailers including Academy Sports + Outdoors, DSW, Ulta Beauty and Old Navy. CBL Properties plans to open the Nordstrom Rack store in spring 2023.