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Katie Sloan

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GeorgiaInvestment salesNews

IPA Brokers $8.3 Million Sale of Food Lion-Anchored Shopping Center Near Port of Savannah

by Katie Sloan

Garden City, Ga. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $8.3 million sale of Garden Grove, a Food Lion-anchored shopping center located adjacent to the Port of Savannah in Garden City.  The grocer, which has anchored the shopping center since 1990, recently extended its lease through 2031. Fletcher Bright Co. sold the 78,792-square-foot property to a private, North Carolina-based family office doing business as Berkshire-Hudson Capital XI.  The seller recently replaced the shopping center’s roof and executed nine lease renewals in 2021, including …

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Investment salesNewsOhio

Marcus & Millichap Arranges $4.2 Million Sale of Two-Tenant Retail Property in Ohio

by Katie Sloan

Mayfield Heights, Ohio — Marcus & Millichap has arranged the $4.2 million sale of a two-tenant retail property in Mayfield Heights, an eastern suburb of Cleveland. Located at 5930 Mayfield Road, the 14,557-square-foot property is fully occupied by NTB and Moe’s. CJ Jackson, Craig Fuller, Erin Patton and Scott Wiles of the Patton Wiles Fuller Group at Marcus & Millichap represented the private, Ohio-based seller. The team also secured and represented the buyer, a REIT.

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Company newsNewsRetailersWisconsin

Kohl’s Bets on Brick-and-Mortar with Plans to Open 100 Smaller-Format Stores, Revitalize Existing Locations

by Katie Sloan

Menomonee, Wis. — Kohl’s (NYSE: KSS) has announced plans to increase its investment in brick-and-mortar with the addition of 100 new, smaller-format locations over the next four years in previously untapped markets.  This expansion follows the pilot of 20 stores featuring the company’s smaller-format design, which averages around 35,000 square feet versus the traditional 80,000-square-foot iteration. In June, the Menomonee-based company will be opening a smaller-format shop in Bonney Lake, Washington, and in the fall, stores are set to open in San Angelo, Texas; Morgantown, West Virginia; Tacoma, Washington; and Lenox, …

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DevelopmentIllinoisMixed-useNews

EQ Office Completes $500 Million Renovation of Willis Tower in Chicago

by Katie Sloan

Chicago — EQ Office, the U.S. office portfolio company wholly owned by Blackstone, has completed its more than $500 million renovation of Chicago’s Willis Tower. The 110-story tower is now certified LEED Platinum and is the largest building in the U.S. to achieve that designation, according to EQ Office. Part of the transformation is Catalog, a 300,000-square-foot retail, dining and entertainment destination at the base of the tower. The name Catalog is a nod to the Sears Roebuck Co. and its printed catalog. Designed by Gensler, Catalog features restaurants such as …

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FinanceFloridaInvestment salesNews

CrossMarc, MCB Acquire Springs Plaza Shopping Center in Metro Orlando for $19.6 Million

by Katie Sloan

Longwood, Fla. — CrossMarc Services and MCB Real Estate have purchased Springs Plaza, a 64,753-square-foot shopping center in Longwood, about 15 miles north of Orlando. Faison Enterprises also provided equity for the $19.6 million acquisition. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of Apollo Global Management, in the transaction. The shopping center was built in 1979 and renovated in 2017. Shadow-anchored by Publix, Springs Plaza’s tenant roster includes Tijuana Flats, golf-themed sports bar Mulligan’s, The Back Porch Longwood, Hurricane Grill & Wings, Woof Gang Bakery & …

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Point-Mallard_Decatur
AlabamaInvestment salesNews

JRW Realty Brokers Sale of Publix-Anchored Shopping Center in Decatur, Alabama

by Katie Sloan

Decatur, Ala. — JRW Realty has brokered the sale of Point Mallard Centre, a grocery-anchored shopping center in Decatur. Situated near I-65, the property features a 45,600-square-foot Publix store and 16,800 square feet of small shop, restaurants and healthcare tenants. The buyer is an unnamed institutional investor that is actively acquiring net-leased and value-add properties. The seller and sales price were not disclosed.

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CaliforniaInvestment salesNews

Faris Lee Investments Arranges $6.6 Million Sale of Country Squire Shopping Center in Fresno

by Katie Sloan

Fresno, Calif. — Faris Lee Investments has arranged the sale of Country Squire Shopping Center, a three-building retail property in Fresno. A Riverside, California-based private investor acquired the center from a Fresno-based investor for $6.6 million. Both parties requested anonymity. Walgreens, Surf Thru Express Car Wash and Multi-Tenant Shops fully occupy the 27,315-square-foot property. Situated on a total of 4.3 acres, the center is located at 4172, 4140, 4182 N. First St. Sean Cox, Alex Moore and Shaun Riley of Faris Lee Investments represented both parties in the deal.

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DelawareDevelopmentLeasingNewsVirginiaWashington DC

Wegmans Opens New 81,300-Square-Foot Grocery Store in Metro D.C., Two More Planned to Open

by Katie Sloan

Washington, D.C. — Wegmans is expanding in metropolitan Washington, D.C. In early May, the grocer opened an 81,300-square-foot store at 150 Stovall St. in Alexandria, Virginia, a store that anchors Stonebridge’s Carlyle Crossing mixed-use development. The Alexandria store opened earlier this month and is the 14th Wegmans in Virginia and 107th nationwide. The grocer also plans to open an 85,000-square-foot store within the Halley Rise development in Reston, Virginia, and an 84,000-square-foot store at the $640 million City Ridge development in northwest Washington, D.C. The City Ridge store will open in …

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Investment salesMassachusettsNewsRhode Island

Wilder, TA Realty Acquire Shopping Center Portfolio in Massachusetts, Rhode Island for $390 Million

by Katie Sloan

Boston — A partnership between Wilder Cos. and TA Realty has acquired a portfolio of nine grocery-anchored shopping centers totaling 729,437 square feet for $390 million. Eight of the properties are located in Massachusetts, and one is located in Rhode Island. At the time of sale, the portfolio was 95 percent leased, with grocers such as Whole Foods Market, Shaw’s, Star Market and Dave’s Fresh Marketplace serving as anchor tenants. Robert Griffin, Geoffrey Millerd, Jonathan Martin, Paul Penman and Mathew Adler of Newmark represented the undisclosed seller and procured the buyer …

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CaliforniaFinanceNews

Gantry Arranges $24 Million Loan for Refinancing of Southern California Retail Center

by Katie Sloan

Moorpark, Calif. — Gantry has arranged a $24 million bridge loan for the refinancing of Village at Moorpark, a retail center located at 706-790 Los Angeles Ave. in Moorpark. Amazon Fresh, Dover Saddlery and other local, regional and national tenants occupy the 129,000-square-foot property. Mark Ritchie and Austin Ridge of Gantry’s Los Angeles office arranged the financing on behalf of the borrower, a private real estate investor. An investment management platform firm provided the loan, which features earn-out provisions with holdbacks tied to future performance milestones and extensions.

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