Grocery-anchored

Oracle-Crossing
ArizonaGrocery-anchoredInvestment salesNews

JLL Negotiates $53.8 Million Sale of Grocery-Anchored Retail Center in Suburban Tucson, Arizona

by Abby Cox

Oro Valley, Ariz. — JLL Capital Markets has negotiated the $53.8 million sale of Oracle Crossing, a 265,530-square-foot retail center located in Oro Valley, approximately six miles northwest of Tucson. Patrick Dempsey and Ross Jorgensen of JLL represented the sellers, entities doing business as Oracle Crossings LLC and Oracle and Magee LLC. The buyers were two entities doing business as Oracle Station LLC and Oracle Station I LLC. Built in 2006, Oracle Station spans 30 acres and is anchored by Sprouts Farmers Market. Other tenants at the center, which was 96 …

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DevelopmentFloridaGrocery-anchoredInvestment salesNews

BCIP Acquires 32.6 Acres on Florida’s Space Coast for Grocery-Anchored Mixed-Use Development 

by Abby Cox

West Melbourne, Fla. — Barron Collier Investment Partners (BCIP) has acquired 32.6 acres from MultiVerse Global, the developers of the 225-acre Space Coast Town Center in West Melbourne, a city on Florida’s Space Coast. BCIP will develop The Landing at Space Coast, a planned mixed-use project that will serve as the cornerstone of the larger master-planned community. Phase I of the development will include approximately 77,750 square feet of retail space anchored by a grocery store, along with restaurant and service-oriented tenants and 300 residential apartments. Phase II will comprise 70,000 …

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Madison-Yards
GeorgiaGrocery-anchoredInvestment salesNews

Newmark Negotiates Sale of 162,500-Square-Foot Grocery-Anchored Neighborhood Center in Atlanta

by Abby Cox

Atlanta — Newmark has negotiated the sale of Madison Yards, a 162,500-square-foot neighborhood center located in Atlanta’s Reynoldstown neighborhood. Delivered in 2018, Madison Yards is anchored by Publix and was 97 percent leased at the time of sale. Other tenants include a mix of national and local tenants across food and beverage, fitness and entertainment, as well as one of the highest-performing AMC Theatre locations in Georgia, according to Newmark. Conor Lalor, Kyle Minter, James Sharpe and Cameron Alexander of Newmark represented the seller in the transaction.

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Parkway-Plaza_california
CaliforniaGrocery-anchoredInvestment salesNews

JLL Arranges $31.5 Million Sale of Grocery-Anchored Retail Center in Metro San Diego

by Abby Cox

El Cajon, Calif. — JLL Capital Markets has arranged the $31.5 million sale of The Shops at Parkway Plaza, a 122,484-square-foot retail center located in El Cajon, approximately 15 miles east of downtown San Diego. Daniel Tyner, Geoff Tranchina and Gleb Lvovich of JLL represented the private seller in the transaction. The buyer was a family office based in Texas. Situated adjacent to Parkway Plaza Mall, a 1.4 million-square-foot super-regional mall, The Shops at Parkway Plaza features a mix of tenants including Aldi, Best Buy, HomeGoods, Texas Roadhouse and Applebee’s.

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DevelopmentGrocery-anchoredInvestment salesMarylandMixed-useNews

SJC Ventures Acquires Former Macy’s Property in Metro Baltimore, Plans Mixed-Use Redevelopment

by Abby Cox

Bel Air, Md. — SJC Ventures has acquired the former Macy’s store at the Harford Mall site in Bel Air, roughly 30 miles northeast of Baltimore, with plans for a redevelopment. The Atlanta-based development firm will begin clearing land and preparing infrastructure at the site in early July. Dubbed Derby Place, the mixed-use project will span 94,600 square feet and will include a 35,000-square-foot grocer, complemented by 48,000 square feet of luxury boutiques, restaurants, shops and amenities. Construction is scheduled to start this summer, while first tenant openings are projected for spring …

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Barcroft-Plaza
FinanceGrocery-anchoredInvestment salesNewsVirginia

JLL Arranges $58 Million Sale, Acquisition Financing for Harris Teeter-Anchored Shopping Center Near Washington, D.C.

by Abby Cox

Falls Church, Va. — JLL Capital Markets has arranged the $58 million sale of Barcroft Plaza, a 113,173-square-foot shopping center located in Falls Church, roughly 10 miles west of Washington, D.C. Jordan Lex and Danny Naughton of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Chris Knight and Evan Parker, also of JLL, secured the five-year, $35.9 million acquisition loan through Bank of America on behalf of the buyer, 11North Partners. Harris Teeter anchors Barcroft Plaza, which spans nearly 10 acres. Other tenants at the property include …

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Newport-Pavilion
Grocery-anchoredInvestment salesKentuckyNews

Newmark Brokers Sale of 332,309-Square-Foot Shopping Center in Newport, Kentucky

by Abby Cox

Newport, Ky. — Newmark has brokered the sale of Newport Pavilion, a 332,309-square-foot power center in Newport, which is situated across the Ohio River from downtown Cincinnati. Newport Pavilion is co-anchored by Kroger and Target and was fully leased at the time of sale to tenants including Dick’s Sporting Goods, T.J. Maxx, Michael’s, Ulta Beauty, Chipotle Mexican Grill and PetSmart. The property sits on 55 acres and benefits from a long-term PILOT agreement through 2037. Conor Lalor, Kyle Minter, Keely Polczynski, James Sharp V and Brian Schneiderman of Newmark represented …

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The-Meridian
Grocery-anchoredInvestment salesNewsPennsylvania

TPG-Led Investor Group Acquires Shopping Center Owner ECHO Realty in $2 Billion Deal

by Abby Cox

Pittsburgh — TPG Real Estate has acquired ECHO Realty, a full-service owner and operator of grocery-anchored retail real estate, in a transaction valued at $2 billion. TPG, a global asset management firm based in San Fransisco, partnered with global investment groups PSP Investments, La Caisse and Norges Bank Investment Management for the transaction. “Our more than two decades of building and operating neighborhood, necessity-based shopping destinations demonstrate the enduring demand for grocery-anchored retail close to home,” says Thomas Karet, founder and CEO of ECHO. “With TPG’s investment and business-building expertise, …

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North-Grove-Center
FloridaGrocery-anchoredInvestment salesNews

Marcus & Millichap Brokers $9.6 Million Sale of Grocery-Anchored Shopping Center in Metro Tampa

by Abby Cox

Seffner, Fla. — Marcus & Millichap has brokered the $9.6 million sale of North Grove Center, a 69,757-square-foot retail center located in Seffner, approximately 15miles east of downtown Tampa. Drew Kristol and Kirk Olson of Marcus & Millichap marketed the property on behalf of the seller, a Florida-based private investment group, in the transaction. Discount grocery chain Save A Lot anchors North Grove Center, which features a mix of additional tenants such as Planet Fitness, Dollar Tree and Ace Hardware, along with various local shops, restaurants and service-oriented retailers. Recent …

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Venetia-Village
FloridaGrocery-anchoredInvestment salesNews

Cleeman Realty Group Negotiates $9.1 Million Sale of Venetia Village in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — Cleeman Realty Group has negotiated the $9.1 million sale of Venetia Village, a 93,925-square-foot shopping center located in Jacksonville. The center is situated on about 10 acres and has been owned and operated by the same family for more than 40 years. Winn-Dixie anchors the property, which features additional tenants such as Dollar General, Anytime Fitness and Dunkin’ Donuts. The new ownership plans to modernize the property and enhance the overall tenant mix. Michael Cleeman of Cleeman Realty Group represented the buyer, an entity doing business as Gator …

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