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Katie Sloan

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GeorgiaInvestment salesNews

Continental Realty Purchases Kroger-Anchored Shopping Center in Suburban Atlanta for $24.4 Million

by Katie Sloan

Fayetteville, Ga. — Continental Realty Corp. (CRC) has purchased Banks Crossing, a 255,101-square-foot shopping center in Fayetteville, a southern suburb of Atlanta. CRC acquired the center, which is anchored by Kroger, for $24.4 million through its private equity fund. The seller was not disclosed. Located at 100-240 Banks Crossing N., Banks Crossing is the third shopping center in CRC’s Georgia portfolio and was 91 percent leased at the time of sale to tenants such as JC Penney, Sally Beauty, Guitar Center and Planet Fitness.

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Investment salesNewsTexas

CIM Group, Open Realty Advisors Sell Retail Portfolio in Dallas for $85.4 Million

by Katie Sloan

Dallas — A partnership between CIM Group and Open Realty Advisors has sold a portfolio of 15 single-story retail buildings totaling 124,000 square feet in the Knox-Henderson neighborhood of Dallas. The sale, which according to Culture Map Dallas fetched a price of $85.4 million, included a 4.3-acre parcel that can support up to 160,000 square feet of new development. The tenant roster encompasses retailers such as Sprouts Farmers Market, Warby Parker, Bonobos, CorePower Yoga and Heyday Skincare, as well as an array of food and beverage users. Ryan Shore, Chris …

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Investment salesNew JerseyNews

SRS Negotiates $17 Million Sale of Southern New Jersey Retail Property Leased to Best Buy

by Katie Sloan

Deptford, N.J. — SRS Real Estate Partners has negotiated the $17 million sale of a 60,750-square-foot retail property in the Southern New Jersey community of Deptford that is fully leased to Best Buy on a triple-net basis. The electronics retailer has occupied the six-acre site for more than 25 years. Andrew Fallon and Rick Fernandez of SRS represented the seller, a Chicago-based private investment firm, in the transaction. The buyer was Agree Realty Corp.

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Elev8-Fun
FloridaLeasingNews

Elev8 Fun to Replace Former Sears at Simon’s Treasure Coast Square Mall in Jensen Beach, Florida

by Katie Sloan

Jensen Beach, Fla. — Simon Property Group has signed Elev8 Fun to a 115,000-square-foot lease to backfill a former Sears department store at Treasure Coast Square Mall in Jensen Beach, a suburb of Port St. Lucie. The entertainment venue will feature go-carts, arcade games, laser tag, 12 bowling lanes and axe throwing, as well as party rooms, meeting space and a restaurant with a full bar. This location will be the third Florida venue for Elev8 Fun, which has identified 15 potential locations at malls and shopping centers around the …

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River-Oaks-District
DevelopmentNewsTexas

The Festival Cos. Announce Renovation Plans for River Oaks District in Houston

by Katie Sloan

Houston — The Festival Cos. have announced renovation plans for River Oaks District, a 250,000-square-foot mixed-use development located at 4444 Westheimer Road in Houston. Enhancements are set to include the addition of a public park on the western side of the property; redevelopment of the center’s central plaza; and the addition of three restaurants with outdoor dining named Bari, Little Hen and Oio De Agua. Construction is set to begin this month with completion slated for fall 2022. Additionally, several new retailers are set to open this year, including Assouline …

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Kings-Crossing-Fairfield-Connecticut
ConnecticutInvestment salesNews

TA Realty Acquires King’s Crossing Shopping Center in Fairfield, Connecticut, for $58 Million

by Katie Sloan

Fairfield, Conn. — TA Realty has acquired King’s Crossing, an 82,000-square-foot shopping center located in the southern Connecticut city of Fairfield, for $58 million. Built in 2011, King’s Crossing was 97 percent leased at the time of sale to tenants such as Whole Foods Market, CVS/pharmacy, Petco, Five Guys, Sleep Number and Chipotle Mexican Grill. Jose Cruz, Kevin O’Hearn, Danny Finkle, Michael Oliver, Steve Simonelli, Andrew Scandalios and Grace Braverman of JLL represented the undisclosed institutional seller in the transaction.

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2017_0831_ThompsonVillage_BLDG-1.pdf
CaliforniaDevelopmentFinanceNews

Joint Venture Receives $39.4 Million Construction Loan for Shopping Center in French Valley, California

by Katie Sloan

French Valley, Calif. — Marcus & Millichap Capital Corp. (MMCC) has secured $39.4 million in construction financing for French Valley Marketplace, a grocery-anchored shopping center development in French Valley. The non-recourse loan will provide funds to complete the horizontal and vertical construction of the project. A partnership between Trinity Investors and Halftery Development Co. are leading the fully entitled, 22-acre project. Current tenants include Grocery Outlet, Rite Aid, EoS Fitness, McDonald’s, AutoZone and 7-Eleven. Brandon Wilhite of MMCC and Sunny Sajnani and Todd McNeill of Institutional Property Advisors, a division …

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MetroGroup-San-Diego
CaliforniaFinanceNews

MetroGroup Secures $18.5 Million Financing for 56,173-Square-Foot Retail Center in San Diego

by Katie Sloan

San Diego — MetroGroup Realty Finance has secured $18.5 million in financing for a 56,173-square-foot retail center located in San Diego. The undisclosed borrower developed the property in two phases in 2002 and 2013. The financing features a maximum loan-to-value of 60 percent for 10 years with a 30-year amortization schedule. Tenants at the property at the time of financing included Subway, several service and fitness tenants, and a service station and car wash. 

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Bass-Pro
CaliforniaLeasingNews

Bass Pro Shops to Open 140,000-Square-Foot Location in Irvine, California

by Katie Sloan

Irvine, Calif. — Bass Pro Shops has announced plans to open a 140,000-square-foot superstore in Irvine. The store will be located within Irvine Company Retail Properties’ Alton Marketplace. The property will offer a selection of boats and off-road ATV’s, alongside clothing and equipment for hiking, backpacking, wildlife viewing and camping. The store will also feature large aquariums and water features stocked with native fish species. The location is set to open in late 2022 or early 2023. 

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Tauro-Walgreens
AlabamaCaliforniaInvestment salesNewsTennesseeWisconsin

Tauro Capital Secures $149.7 Million Refinancing for 24-Property Walgreens Portfolio

by Katie Sloan

Los Angeles — Tauro Capital Advisors has secured the $149.7 million refinancing of a 24-property Walgreens portfolio primarily located across Tennessee, Wisconsin and Alabama. Matt Bucaro of the Los Angeles-based firm secured the one-year floating bridge loan through Benefit Street Partners on behalf of the borrower, IBF Properties LLC. The portfolio spans 314,852 square feet and was purchased by IBF in 2021. The company is currently acquiring retail assets occupied by investment-grade tenants with plans to create a REIT. 

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