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Katie Sloan

Madison-Yards_Atlanta
GeorgiaGrocery-anchoredInvestment salesNews

CTO Realty Growth Acquires Madison Yards Retail Development in Atlanta for $80.2 Million

by Katie Sloan

Atlanta — CTO Realty Growth has purchased Madison Yards, a new retail development in Atlanta’s Inman Park district. The developer, Fuqua Development, sold the 162,500-square-foot project to CTO Realty Growth for $80.2 million. Located at 905 Memorial Drive along the Atlanta Beltline’s Eastside Trail, Madison Yards was 98 percent leased at the time of sale to tenants including anchors Publix and AMC Theatres. Other tenants include AT&T, First Watch and Orangetheory Fitness. Fuqua delivered the property in 2019, as well as an attached apartment community that was not part of …

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Kerns-Bakery_Knoxville
DevelopmentNewsTennessee

Four Stones Begins Construction on Phase II of Kern’s Bakery Mixed-Use Project in Knoxville

by Katie Sloan

Knoxville, Tenn. — Four Stones Real Estate has begun construction on Phase II of Kern’s Bakery, a 16-acre mixed-use redevelopment of a former bakery of the same name in Knoxville. The second phase will redevelop a historic 75,000-square-foot building into a food hall, market, offices, rooftop bars and outdoor gathering spaces. Tenants announced include Flourish Flowers, Archer Paper Goods, F45, Mae Lee’s Boutique and Drop Zone Distilling, as well as an 18-merchant food hall that will include coffee, Italian, Southern and breakfast purveyors, among others. The second phase will also …

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Brook-Highland-Plaza_Birmingham
AlabamaGrocery-anchoredInvestment salesNews

First National Realty Acquires Brook Highland Plaza Shopping Center in Birmingham for $77 Million

by Katie Sloan

Birmingham, Ala. — First National Realty Partners has purchased Brook Highland Plaza, a 549,500-square-foot shopping center located in Birmingham. The seller and sales price were not disclosed, but the Birmingham Business Journal reports the property traded for $77 million. The transaction marks the Red Bank, New Jersey-based investor’s second grocery-anchored center acquisition in Alabama. Brad Buchanan and Jim Hamilton of JLL’s Atlanta office represented the seller in the transaction. A 127,000-square-foot Lowe’s Home Improvement store and a 23,400-square-foot Sprouts Farmers Market anchor Brook Highland Plaza. Other tenants include Burlington, Best Buy, …

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FloridaInvestment salesNews

RK Centers Acquires Pineapple Commons Shopping Center in Stuart, Florida for $48.5 Million

by Katie Sloan

Stuart, Fla. — RK Centers has purchased Pineapple Commons, a 256,000-square-foot open-air shopping center located at 2502 N.W. Federal Highway in Stuart, a coastal city about 40 miles north of West Palm Beach. Kimco Realty sold the property to RK Centers for $48.5 million. Dennis Carson of CBRE represented Kimco in the transaction. Built in 2005, Pineapple Commons’ tenant roster includes City Furniture, Ashley Furniture, Best Buy, Ross Dress for Less, Ulta Beauty, PetSmart, Marshalls, Shoe Carnival, Starbucks Coffee, Chipotle Mexican Grill and 15 other dining, service and specialty retail …

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Muscle-Shoals-Commons
AlabamaInvestment salesNews

Coro Realty, PGM Sell Muscle Shoals Commons in North Alabama for $13 Million

by Katie Sloan

Muscle Shoals, Ala. — A partnership between Coro Realty and PGM Properties has sold Muscle Shoals Commons, a 58,760-square-foot retail center located in the Northern Alabama town of Muscle Shoals for $13 million. Publix anchors the property, which was 90 percent leased at the time of sale to tenants including Great Clips, Healthsource Chiropractic and Yogurt Mountain. Fred Victor or Transwestern represented the seller in the transaction.

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fenton
DevelopmentNewsNorth Carolina

Hines, Columbia Development Complete Phase I of 945,000-Square-Foot Fenton Development in Metro Raleigh

by Katie Sloan

Cary, N.C. — Hines and Columbia Development have completed Phase I of Fenton, a 945,000-square-foot mixed-use development in the Raleigh suburb of Cary. The 69-acre first phase of the project includes 200,000 square feet of Class A office space; 345,000 square feet of retail, restaurants and entertainment venues; and a 254,000-square-foot parking deck offering 811 spaces. The development team included USAA Real Estate, design firm Nelson Worldwide and general contractor Hoar. Tenants for Phase I, which were announced last year, include Williams Sonoma, Pottery Barn, Athleta, Von Kekel Aveda Lifestyle …

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Northeast-Heights
Grocery-anchoredInvestment salesNew YorkNews

Cedar Realty Trust Sells Grocery-Anchored Shopping Center Portfolio for $879 Million

by Katie Sloan

Port Washington, N.Y. — Cedar Realty Trust has sold a portfolio of 33 grocery-anchored shopping centers for $879 million, inclusive of existing debt. The names and addresses of the centers were not disclosed, but the properties are primarily located in high-density markets throughout the Northeast and Mid-Atlantic regions. The buyer was a joint venture between two New York City-based firms, DRA Advisors and KPR Centers. The sale, which was first announced in March, comes as part of the New York-based REIT’s plan to divest of its assets prior to being …

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Franklin-Towne-Center
Grocery-anchoredInvestment salesNew JerseyNews

Stan Johnson Co. Arranges $56 Million Sale of 138,000-Square-Foot Shopping Center in Franklin Park, New Jersey

by Katie Sloan

Franklin Park, N.J. — Stan Johnson Co. has arranged the $56 million sale of Franklin Towne Center, a 138,000-square-foot shopping center located in Franklin Park. Stop & Shop anchors the property, which was developed in 1990. Isaiah Harf of Stan Johnson represented the seller, a New York-based developer, in the disposition of the center to an investment firm based in New Jersey. 

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Grocery-anchoredInvestment salesNew YorkNews

JLL Brokers $26.5 Million Sale of Stop & Shop Anchored Retail Center in West Haverstraw, New York

by Katie Sloan

West Haverstraw, N.Y. — JLL Capital Markets has brokered the $26.5 million sale of Samsondale Plaza, a 156,185-square-foot retail center located in the Rockland County community of West Haverstraw. Stop & Shop anchors the property, which was 91 percent leased at the time of sale to tenants including the New York State Department of Motor Vehicles, Dollar Tree, Advance Auto, Sports Clips, Sally Beauty Supply and Mandee. Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn, Austin Pierce and Andrew Scandalios of JLL represented the seller, a joint venture …

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Corner-on-7th
ArizonaInvestment salesNews

MDC Realty Advisors Sells Two Shopping Centers in Phoenix, Scottsdale for $25.7 Million

by Katie Sloan

Phoenix and Scottsdale, Ariz. — MDC Realty Advisors, a subsidiary of Epic Investment Services, has sold two shopping centers totaling 38,274 square feet in Phoenix and Scottsdale for $25.7 million. Dispositions include Corner on 7th, a 16,202-square-foot strip center located at 527-539 W. McDowell Road in Phoenix; and The Marketplace at Lincoln and Scottsdale, a 22,072-square-foot neighborhood center located at 6560-6590 N. Scottsdale Road in Scottsdale. Corner on 7th was 93.5 percent leased at the time of sale to Ahi Poke, Wingstop, Vovemeena, Mad Greens, Chipotle Mexican Grill, Zoyo, Cryotherapy …

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