Chicago — Mid-America Real Estate Corp. has brokered the sale of 3030 North Broadway, a 131,748-square-foot shopping center located in Chicago. L3 Capital acquired the property for $50.1 million. Ben Wineman and Joe Girardi of Mid-America Real Estate Corp. represented the seller, SITE Centers, in the transaction. Mariano’s anchors the five-story property, which features a mix of additional tenants including Club Studio, PNC Bank, Starbucks Coffee and Fresh Dental.
Silver Spring, Md. — MCB Real Estate has signed Costco Wholesale to anchor Viva White Oak, a $2.8 billion mixed-use development in Maryland’s Montgomery County. Situated roughly 12 miles northeast of Washington, D.C., Viva White Oak will span 280 acres near the headquarters of the U.S. Food and Drug Administration (FDA) and the Adventist HealthCare White Oak Medical Center in Silver Spring. The 162,000-square-foot store will be the fourth Costco within a 10-mile radius of Viva White Oak, according to MCB. Viva White Oak is approved for more than 12 …
Milwaukee — Mid-America Real Estate Corp. has brokered the sale of Centennial Place Shoppes, a 13,976-square-foot shopping center located less than four miles from downtown Milwaukee. Pick ‘n Save shadow-anchors the center, which was fully leased at the time of sale, according to LoopNet Inc. Additional tenants include Summit Credit Union, Domino’s Pizza, GNC, Great Clips, Chubby’s Cheesesteaks and T-Mobile. Rick Drogosz, Patrick Corrigan and Dan Rosenfeld of Mid-America Real Estate represented the seller, a joint venture between Boulder Venture and General Capital Group, in the transaction. The center was acquired by a public REIT.
Port St. Lucie, Fla. — A partnership between Morgan Co. and Casto Net Lease has acquired a 15-acre land parcel in Port St. Lucie for the development of a grocery-anchored shopping center. Scott Copeland of On Course Development represented the buyers in the transaction. The new center will be anchored by Aldi and will include several outparcels that will be designated for tenants such as McDonald’s, Circle K and AutoZone. Construction is expected to begin later this year, with delivery of the project scheduled for 2027.
McKinney, Texas — Weitzman has announced plans to develop Custer Frontier Marketplace, a 170,000-square-foot, Kroger-anchored shopping center located in McKinney, approximately 33 miles north of Dallas. Situated on the southeast corner of Custer Road and Frontier Parkway, the Kroger Marketplace will comprise a 99,000-square-foot grocery store and fuel station. In addition to the anchor, the center will also feature 54,000 square feet of small-shop and freestanding retail space across multiple buildings and pad sites. A timeline for completion was not disclosed. David Palmer of Weitzman is leading the development of Custer …
Hamlet, N.C. — Legacy Realty Group Advisors has arranged the sale of Whistle Stop Square, a 40,120-square-foot, grocery-anchored shopping center located in Hamlet, roughly six miles southeast of the Rockingham. Tenants at the center include Food Lion, Mr. Furniture Outlet, K&D Nails, King Gourmet and Mo’s Tobacco & Vapor, according to Showcase. Jacob Baruch and Jonah Warshaw of Legacy Realty Group Advisors represented the buyer, while David Zipparo of Avison Young represented the seller in the off-market transaction.
Wallingford, Conn. — CBRE has arranged the $21.4 million sale of Wallingford Fair Shopping Center, a 115,000-square-foot grocery-anchored center located in Wallingford, approximately 25 miles south of Hartford. ShopRite anchors the property, which also features a self-storage facility and a Petco store. Nat Heald, Jordana Roet, Connor Scott and Kyle Juszczyszyn of CBRE represented the seller, Feldco Development Corp., and procured the buyer, United Hampshire US REIT, in the transaction.
Zephyrhills, Florida — Franklin Street has brokered the $6.4 million sale of Oakview Plaza, a 47,000-square-foot retail center located in Zephyrhills, roughly 30 miles northeast of Tampa. Justin Walker, Justin Sturdivant and Dylan Morse of Franklin Street represented the seller, South Florida-based Merrimac Ventures, in the transaction. New York-based New Hyde Park Fruit Corp. was the buyer. Originally built in 1990, the center will undergo façade improvements, parking lot enhancements and lighting updates. The property’s Winn-Dixie store is also being redeveloped into an Aldi that will act as co-anchor to …
Sanford, Fla. — The Ardent Cos. has received approval from the City of Sanford for the redevelopment of Seminole Towne Center, a former shopping mall spanning 1.1 million square feet in metro Orlando. The redevelopment includes construction of a new 164,585-square-foot Costco store on the 76-acre site. Taking the place of the former Macy’s department store, the Costco location will include a gas station, tire center and liquor store. Ardent plans to begin site work and demolition this summer, with the Costco store opening anticipated for second-quarter 2027. Over the …
Clifton, N.J. — JLL Capital Markets has arranged $11.5 in financing for the acquisition of 1030 — 1050 Route 46, a formerly vacant commercial building that is being redeveloped as a grocery-anchored retail center in Clifton, approximately 12 miles west of New York City. Ryan Carroll, Nazario Paragano and Christian Badalamenti of JLL secured the three-year, floating-rate loan through Fidelity Investments on behalf of the undisclosed borrower. The building, which occupies a 4.3-acre site at the intersection of Route 46 and Route 3, will undergo approximately $1.5 million in capital improvements, …
