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Katie Sloan

Arbor-Square
GeorgiaInvestment salesNews

Joint Venture Sells Arbor Square Shopping Center in Metro Atlanta for $18.4 Million

by Katie Sloan

Douglasville, Ga. — A joint venture between Connolly and Coro Realty has sold Arbor Square, a 127,195-square-foot shopping center located roughly 23 miles outside Atlanta in Douglasville. ALTO Real Estate Funds purchased the property for $18.4 million. Mark Joines and Drew Fleming of Newmark arranged the sale. Developed by Connolly in 1977, Arbor Square was fully renovated in 2018 and was 97 percent occupied at the time of sale by tenants such as Burlington, HomeGoods, Skechers, Starbucks Coffee, Five Guys and Del Taco.

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963-Houston-Northcutt
Investment salesNewsSouth Carolina

Cushman & Wakefield Brokers $14.3 Million Sale of Movie Theater Property in Metro Charleston

by Katie Sloan

Mount Pleasant, S.C. — Cushman & Wakefield has brokered the $14.3 million sale of a 33,000-square-foot property formerly occupied by Regal Cinemas in Mount Pleasant, about 9.5 miles from Charleston. Nick Tanana and Brady Dashiell of Cushman & Wakefield represented the seller, Regal Cinemas, in the disposition of the property to Collett Capital. The site was marketed as a redevelopment opportunity.

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DevelopmentInvestment salesNewsVirginia

Green Clean Express Auto Wash Purchases Land in Metro Richmond for $1.5 Million

by Katie Sloan

Henrico County, Va. — Green Clean Express Auto Wash has purchased approximately one acre of land at 9486 West Broad St. in Henrico County, about 8 miles from Richmond. Green Clean Express plans to develop its third location in the Richmond metropolitan area. Alex Wotring of Cushman & Wakefield | Thalhimer represented the buyer in the $1.5 million sale transaction. The seller was not disclosed. 

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LeasingNew JerseyNews

Rita’s Ice Signs 1,973-Square-Foot Retail Lease in Flanders, New Jersey

by Katie Sloan

Flanders, N.J. — Rita’s Ice has signed a 1,973-square-foot retail lease at ITC Crossing South Shopping Center in Flanders, about 50 miles west of New York City. The tenant will backfill a space previously occupied by Amy Murphy Salon, which is relocating to a 5,000-square-foot space within the 514,903-square-foot center. The opening is scheduled for the first quarter of 2022. Danielle Brunelli of R.J. Brunelli & Co. represented the landlord in the lease negotiations.

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Alsatian-Oaks
DevelopmentMixed-useNewsTexas

Merit Commercial Real Estate Breaks Ground on $500 Million Alsatian Oaks Master-Planned Community Near San Antonio

by Katie Sloan

Castroville, Texas — Merit Commercial Real Estate has broken ground on Alsatian Oaks, a 435-acre, master-planned community in Castroville, a town adjacent to San Antonio. The project represents an investment of more than $500 million. When complete, Alsatian Oaks will include 950 homes, an amenity center, parks, bike trails and more than 400,000 square feet of restaurants, retail and medical office space. The first phase of development will consist of 233 homes as well as utility systems and a parkway connecting to Highway 90. A construction timeline was not provided. …

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Superstition-Gateway
ArizonaFinanceNews

Keybank Secures $77.1 Million Refinancing for Shopping Center in Mesa, Arizona

by Katie Sloan

Mesa, Ariz. — KeyBank Real Estate Capital has secured the $77.1 million refinancing of Superstition Gateway, a shopping center consisting of 25 single-story buildings in Mesa. Built in 2007, the center is home to tenants including Kohl’s, Bed Bath & Beyond, LA Fitness and AMC Theatres. John Loshbaugh and Robert Ray of KeyBank secured the fixed-rate, CMBS loan on behalf of the borrower, Desert Troon Companies.

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AlabamaInvestment salesNews

JRW Realty Arranges $19 Million Sale of Publix-Anchored Shopping Center in Madison, Alabama

by Katie Sloan

Madison, Ala. — JRW Realty has arranged the $19 million sale of a multi-tenant retail center anchored by Publix Super Markets in Madison. The property was 92 percent leased at the time of sale to tenants including Goodwill and ATI Physical Therapy. The buyer and seller in the transaction were undisclosed.

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Cross-Station
GeorgiaInvestment salesNews

Marcus & Millichap Arranges $9 Million Sale of Food Lion-Anchored Center in Southwest Georgia

by Katie Sloan

Albany, Ga. — Marcus & Millichap has arranged the $9 million sale of Cross Station Shopping Center, a 166,593-square-foot, Food Lion-anchored property located in Albany. David Gant and Lori Schneider of Marcus & Millichap represented the seller and the buyer, both undisclosed limited liability companies, in the transaction. John Leonard of Marcus & Millichap assisted in the closing. Located at 2800 Old Dawson Road, the center was 88.2 percent occupied at the time of sale by tenants including UPS, Ross Dress For Less, Beall’s Outlet, JOANN Fabric and Crafts, Plato’s …

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Christenbury-Village
DevelopmentLeasingNewsNorth Carolina

Lowes Foods Signs 52,000-Square-Foot Lease at Christenbury Village in Concord, North Carolina

by Katie Sloan

Concord, N.C. — Lowes Foods has signed a lease to anchor Christenbury Village, a planned mixed-use development in Concord. Christenbury Investors — an entity affiliated with MPV Properties and Mission Properties — is the developer of the 17-acre project. Lowes Foods will occupy a 52,000-square-foot space within the development, which is set to include two mixed-use buildings featuring approximately 150 multifamily units and about 26,000 square feet of retail space, alongside a 24,000-square-foot medical office building. The developer plans to break ground on Phase I of the project in the …

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Wichester-Center
LeasingMichiganNews

Burlington to Open at Winchester Center in Metro Detroit

by Katie Sloan

Rochester Hills, Mich. — Burlington is set to backfill a 31,059-square-foot space formerly occupied by Stein Mart at Winchester Center in Rochester Hills, about 25 miles north of Detroit. RPT Realty owns the shopping center, which is located at the southwest corner of Rochester and Avon roads. Tjader Gerdom, Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented RPT in the lease transaction.

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