Conshohocken, Pa. — IKEA will open four stores featuring its new Plan & Order Point with Pick-Up format. Scheduled to open this year, the stores will be located in Austin, Texas, metro Atlanta and the greater Los Angeles area. Situated within Domain Shopping Center, the Austin store will open this summer and will mark the second IKEA location in the city. Plan & Order Points are “dedicated to kitchen, bedroom and living room projects,” according to the company’s website. The stores feature a smaller layout with no merchandise to be taken …
Peachtree City, Ga. — Nuveen Real Estate has acquired Peachtree Crossing, an 80,748-square-foot shopping center located in Peachtree City, roughly 30 miles outside Atlanta. Harbour Real Estate Partners sold the property for an undisclosed price. Built in 1978 and renovated in 2011, the Fresh Market-anchored center was fully leased at the time of sale. Tenants at the property include Peachtree City Eye Center, Bintelli Golf Carts, Heirloom Market, Mina’s Hallmark, Hollywood Feed, Campanile’s Home Inside & Out, Georgia Shrimp Co. and W. Daly Salon. Brad Buchanan, Jim Hamilton and Andrew Michols …
Brunswick, Ga. — Buc-ee’s will develop a 74,000-square-foot travel center in Brunswick. Construction is scheduled to begin Jan. 29 with a groundbreaking. Upon completion, the property will feature 120 fueling stations, as well as a store offering snack, meal and drink options. Buc-ee’s currently operates 47 stores throughout Texas, Alabama, Florida, Georgia, Kentucky, South Carolina, Missouri and Tennessee.
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Avison Young Acquires Madison Marquette Retail Platform, 6.1 Million-Square-Foot Portfolio
Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …
LaGrange, Ga. — Zach Taylor of Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $16 million sale of a newly built shopping center located in LaGrange. Publix anchors the property, with a 10-year lease on the store. Taylor represented the seller, an Atlanta-based developer, in the transaction and procured the 1031 exchange buyer.
Norcross, Ga. — Ackerman Retail, a division of Ackerman & Co., has facilitated the sale of a 4,200-square-foot absolute triple-net Chick-fil-A ground lease located in Norcross, roughly 20 miles outside Atlanta. Constructed in 1998, the property was renovated in 2018. Sean Patrick of Ackerman Retail represented the seller, an entity doing business as WB Holdings-Jimmy Carter Boulevard, in the transaction. A local private buyer acquired the ground lease.
Marietta, Ga. — Six new tenants have signed leases at Avenue West Cobb, a shopping center located in Marietta, roughly 20 miles outside Atlanta. StretchLab and Walk-On’s Sports Bistreaux now occupy 1,156 and 6,890 square feet, respectively. The Peach Cobbler Factory and Vera Whole Health are scheduled to open early this year, in 1,400- and 5,500-square-foot spaces, respectively. Additionally, Warby Parker will open a 2,300-square-foot store at the property this spring. J.Crew Factory is also scheduled to open this spring and will occupy 5,390 square feet. JLL manages the property.
Cumming, Ga. — JLL Capital Markets has brokered the $30 million sale of Matt Town Center, an 81,077-square-foot retail center located in Cumming, roughly 40 miles northeast of Atlanta. Publix anchors the property, which was built in 2020. Other tenants at Matt Town Center, which was 95 percent occupied at the time of sale, include Domino’s, Great Clips, North Shore Dry Cleaners, Grand Nails, Sage Dental, Reveille Café, Dunkin’ Donuts, The UPS Store, EasyVet and Zaxby’s. The sale also included roughly 3.9 acres of undeveloped land, zoned for retail and office …
Duluth, Ga. — JLL Capital Markets has brokered the $18.5 million sale of Reynold’s Crossing, a 45,809-square-foot retail center located in Duluth, roughly 30 miles outside Atlanta. Built in 2004 and 2005, the property was fully leased at the time of sale. Tenants at the center include Little Caesar’s, The UPS Store, MetroPCS, Chase and Cricket Wireless. Brad Buchanan and Jim Hamilton of JLL represented the seller, Leaders Real Estate Group, in the transaction. Justin Miller of Marcus & Millichap procured the buyer. Jamie Safier of Marcus & Millichap secured financing …
West Palm Beach, Fla. and LaGrange, Ga. — BWE has secured two loans totaling $16 million for the financing of a pair of shopping centers located in Florida and Georgia. The deals include a $6 million loan for the refinancing of Palm Beach Commons, a 70,000-square-foot, Family Dollar-anchored retail center in West Palm Beach; and a $10 million acquisition loan for Publix at Merganser Commons, a newly built, Publix-anchored shopping center spanning 46,791 square feet in LaGrange. Logan Petersmeyer of BWE originated both loans, which are underwritten with full-term, interest-only payments.