Grocery-anchored

Shops at Stonefield
FinanceGrocery-anchoredNewsVirginia

JLL Secures $74.5 Million in Refinancing for Grocery-Anchored Shopping Center in Central Virginia

by Abby Cox

Charlottesville, Va. — JLL Capital Markets has secured a $74.5 million loan to refinance the Shops at Stonefield, a 267,294-square-foot shopping center located in the Central Virginia city of Charlottesville, about 70 miles northwest of Richmond. Brian Gaswirth, Evan Parker, Gus Caiola and Jude Carlon of JLL arranged the three-year loan through FS Credit Real Estate Income Trust on behalf of the borrower, O’Connor Capital Partners. Shops at Stonefield is anchored by Trader Joe’s and includes a mix of additional tenants such as L.L. Bean, lululemon, Sephora and a 14-screen …

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Reisterstown-Shopping-Center
Company newsGrocery-anchoredMarylandNews

Rappaport to Manage Reisterstown Shopping Center in Metro Baltimore

by Abby Cox

Reisterstown, Md. — McLean, Virginia-based Rappaport has been selected to provide leasing and management for Reisterstown Shopping Center, a 160,000-square-foot, grocery-anchored retail center located in Reisterstown, approximately 25 miles north of Baltimore. As part of the assignment, Rappaport will oversee $2 million in property upgrades. Built in 1964, Reisterstown Shopping Center is anchored by a 29,000-square-foot Lidl grocery store and a recently opened 33,000-square-foot Lowe’s Outlet. The center features a mix of additional tenants such as Starbucks Coffee, Chipotle Mexican Grill, Jersey Mike’s, Quickway Japanese Hibachi and Planet Fitness. Reisterstown …

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Somerset Shopping Center
Grocery-anchoredLeasingNew JerseyNews

Levin Management Signs Lease with Sprouts Farmers Market to Anchor Somerset Shopping Center in New Jersey

by Abby Cox

Bridgewater, N.J. — Levin Management Corp. (LMC) has signed a 28,750-square-foot lease with Sprouts Farmers Market to anchor Somerset Shopping Center, a 219,000-square-foot shopping center located in the northern New Jersey community of Bridgewater. Vanessa Kelty and Ed Vasconcellos of LMC represented the landlord in the lease negotiations, while Mike Horn and Steven Winters of RIPCO Real Estate represented Sprouts Farmers Market. Sprouts will serve as a co-anchor to Barnes & Noble. The Sprouts lease follows a series of recent additions and openings at Somerset Shopping Center, including D1 Training, …

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Whole-Foods-Madison-Yards
Grocery-anchoredInvestment salesMixed-useNewsWisconsin

Mid-America Brokers Sale of 51,361-Square-Foot Single-Tenant Retail Property in Madison, Wisconsin

by Abby Cox

Madison, Wis. — Mid-America Real Estate Corp. has brokered the sale of a newly developed, single-tenant retail property located in Madison. Whole Foods Market occupies the 51,361-square-foot building, which serves as the anchor tenant for Madison Yards, a 21-acre mixed-use development under construction. Dan Rosenfeld, Andrew Lund, Nick Kohlmann and George Ghattas represented the seller, Summit Smith Development, in the transaction. The property was acquired by a private buyer. In addition to Whole Foods Market, Madison Yards will feature more than 500 luxury apartments and 400,000 square feet of medical/office space, as well …

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new-city-center
Grocery-anchoredInvestment salesNew YorkNews

Cronheim Arranges $33.3 Million in Financing for Grocery-Anchored Center in New City, New York

by Abby Cox

New City, N.Y. — Cronheim has arranged a $33.3 million bridge loan for New City Center, a 128,801-square-foot center located in New City, approximately 30 miles north of Manhattan. Dev Morris, Allison Villamagna, Brandon Szwalbenest, and Andrew Stewart of Cronheim secured the three-year loan through Voya Investment Management on behalf of a JV partnership between KABR Group and BTF Capital Fund. The loan provided 75 percent of the total project costs, with additional future funding available for capital improvements. Anchored by ShopRite, New City Center features a mix of tenants such …

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Grocery-anchoredInvestment salesMarylandNews

Federal Realty Acquires Congressional North Shopping Center in Maryland for $72.3 Million

by Abby Cox

Rockville, Md. — Federal Realty Investment Trust (FRT) has acquired Congressional North Shopping Center, a 176,000-square-foot shopping center in Rockville, approximately 12 miles northwest of Washington, D.C., for $72.3 million. Aldi anchors the center, which spans 12 acres. Additional tenants include RH Outlet, Petco and Staples. FRT also owns Congressional Plaza, Federal Plaza, Montrose Crossing and Pike & Rose in Montgomery County, Maryland, among other properties.

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ALDI-Grocery-Anchored-Center
Grocery-anchoredIllinoisInvestment salesNews

Marcus & Millichap Brokers $13.7 Million Sale of Grocery-Anchored Shopping Center in McHenry, Illinois

by Abby Cox

McHenry, Ill. — Marcus & Millichap has brokered the $13.7 million sale of McHenry Town Center, a 94,658-square-foot, grocery-anchored center located in McHenry, roughly 55 miles southeast of Chicago. Built in 2003, the eight-suite property is home to Aldi, Petco, Five Below, Bath & Body Works, Michaels and Famous Footwear. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private family with offices overseas and in Chicago, and procured the 1031 exchange buyer.

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new-mark-shopping-center
Grocery-anchoredInvestment salesMissouriNews

Block & Co. Negotiates Sale of Grocery-Anchored Shopping Center in Kansas City

by Abby Cox

Kansas City, Mo. — Block & Co. Inc. Realtors has negotiated the sale of New Mark Shopping Center, an 81,884-square-foot neighborhood center located at North Oak Trafficway and 102nd Street in Kansas City. A 52,000-square-foot Sun Fresh Grocery anchors the center, which was 95 percent leased at the time of sale. David Block and Jay Friedman of Block & Co. represented the seller in the transaction. The buyer, an out-of-state investor, purchased New Mark Shopping Center for an undisclosed price. Block & Co. has managed and leased New Mark since acquiring the property in …

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Marcs Grocery Center
Grocery-anchoredInvestment salesNewsOhio

FNRP Purchases 63,317-Square-Foot Grocery-Anchored Shopping Center in Suburban Cleveland 

by Abby Cox

South Euclid, Ohio — First National Realty Partners (FNRP) has acquired Marc’s Grocery Center, a 63,317-square-foot shopping center located in the Cleveland suburb of South Euclid. Anchored by Marc’s, the property features a mix of other tenants including Starbucks Coffee, AT&T, NextDoor Urgent Care, Great Clips and Subway. Erin Patton of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the transaction.

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river-exchange-lawrenceville
GeorgiaGrocery-anchoredInvestment salesNews

Sands Investment Group Brokers $23.4 Million Sale of Grocery-Anchored Center in Suburban Atlanta

by Abby Cox

Lawrenceville, Ga. — Sands Investment Group has brokered the $23.4 million sale of River Exchange Shopping Center, a 273,023-square-foot, grocery-anchored shopping center located in Lawrenceville, roughly 30 miles northeast of downtown Atlanta. Liam Rowan and Tyler Baughman of Sands represented the seller, a joint venture between BASH Capital, Dragonfly Investments and Baltimore-based America’s Realty LLC, and the buyer, an entity doing business as Vishal River Exchange LLC, in the transaction. SouthState Bank provided acquisition financing. River Exchange was 80 percent leased at the time of sale to tenants including Kroger, Goodwill, …

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