Grocery-anchored

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GeorgiaGrocery-anchoredInvestment salesNews

Sterling Organization Acquires Whole Foods-Anchored Shopping Center in Metro Atlanta for $93.2 Million

by Abby Cox

Marietta, Ga. — Sterling Organization has acquired Merchants Walk, a 271,992-square-foot shopping center located in Marietta, roughly 20 miles northwest of downtown Atlanta, for $93.2 million. The investment was made on behalf of Sterling’s $600 million equity institutional value-add fund, Sterling Value Add Partners IV. Whole Foods Market anchors Merchants Walk, which was 90 percent leased at the time of sale. Additional tenants include Marshalls, PetSmart, Old Navy, DSW, Ulta Beauty, Office Depot and Georgia Theater Company Cinemas. EDENS, an owner, developer and operator of open-air retail and mixed-use properties, was …

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Grocery-anchoredInvestment salesNewsWashington

Kiemle Hagood Brokers $32 Million Sale of Multi-Tenant Retail Property in Spokane, Washington

by Abby Cox

Spokane, Wash. — Spokane-based Kiemle Hagood has negotiated the $32 million sale of 5 Mile Shopping Center, a 163,000-square-foot, multi-tenant retail center in north Spokane. Romax 5 Mile LLC purchased the grocery-anchored property from 5-Mile Investment Company I LLC. Situated on 14.2 acres at 1812 W. Francis, the property features a mix of tenants including Rosauers, Starbucks Coffee, Chipotle Mexican Grill, Taco Bell, Washington Trust Bank, Mister Car Wash, GNC and Edward Jones. Casey Brazil and Richard Fox of Kiemle Hagood represented the seller, while Colin Conway and Steve McIntosh of …

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FloridaGrocery-anchoredInvestment salesNews

TSCG Arranges $20.7 Million Sale of Publix-Anchored Shopping Center in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — TSCG has brokered the $20.7 million sale of The Plaza at Normandy, a 58,691-square-foot, Publix-anchored shopping center located at the intersection of Normandy Boulevard and Chaffee Road South in Jacksonville. Built in 2024, The Plaza at Normandy was fully leased at the time of sale to Publix, Publix Liquor Store, Xtreme Wings, Hair Cuttery, Nail Art Studio & Spa, The UPS Store and AT&T Wireless. The shopping center includes outparcels for McDonald’s and Wawa that were not part of the sale. An unnamed 1031 exchange buyer purchased the …

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Cedar Tree Village Shopping Center
CaliforniaGrocery-anchoredInvestment salesNews

Visintainer Group Brokers $20.8 Million Sale of Grocery-Anchored Center in Fresno, California

by Abby Cox

Fresno, Calif. — Visintainer Group has brokered the $20.8 million sale of Cedar Tree Village Shopping Center, a 118,417-square-foot shopping center located in Fresno. R-N Market anchors the property, which features a mix of additional tenants such as McDonald’s and Dollar Tree. The center was 96.3 percent leased at the time of sale, according to The Business Journal. Brett Visintainer and John Kourafas of Fresno-based Visintainer Group represented the seller, an entity doing business as Cedar Tree Village LLC, in the transaction. The buyer was Pacific Castle. The original developer’s …

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DevelopmentGrocery-anchoredMarylandMixed-useNews

SJC Ventures to Begin Construction on Former Macy’s Store at Hartford Mall Site in Bel Air, Maryland

by Abby Cox

Bel Air, Md. — SJC Ventures will begin the demolition process on the former Macy’s store at the Hartford Mall site in Bel Air, roughly 30 miles northeast of Baltimore. Interior demolition will kick off on July 22. The property is being transformed into a new, 95,000-square-foot mixed-use development called Derby Place that will be anchored by a 35,000-square-foot Whole Foods Market. Other signed leases include Shake Shack and VEG ER for Pets. The community will also feature parks, pedestrian walkways and a 249-unit apartment complex. Construction on the multifamily component …

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Lakeland Town Center
Grocery-anchoredInvestment salesNewsWashington

Intercontinental Real Estate Acquires Lakeland Town Center in Metro Seattle for $69.5 Million

by Abby Cox

Auburn, Wash. — Intercontinental Real Estate Corp. has acquired Lakeland Town Center, a 125,233-square-foot, grocery-anchored retail center located in Auburn, approximately 20 miles south of Seattle. Built in 2002, Lakeland Town Center is situated on 12.6 acres within the Lakeland Hills master-planned community. The property, which was fully leased at the time of sale, is home to a mix of tenants including Haggen Northwest Fresh, Subway, HopsnDrops, Rock Wood Fired Pizza, Puerto Vallarta Mexican, Sushi Konami, Ichi Teriyaki, Legendary Doughnuts, Nekter Juice Bar, Menchie’s Frozen Yogurt, Pacific Cataract and Laser Institute, …

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FinanceGrocery-anchoredNew JerseyNews

Cronheim Arranges $21 Million in Financing for Grocery-Anchored Shopping Center Near Cape May, New Jersey

by Abby Cox

Cape May Court House, N.J. — Cronheim Mortgage has arranged $21 million in financing for the acquisition of The Plaza at Cape May Court House, a 163,629-square-foot shopping center located within Middle Township in Cape May County. Acme, which has operated at the property for 29 years, anchors the center. Built in 1971 and renovated in 2022, The Plaza at Cape May Court House is leased to 16 additional tenants including Starbucks Coffee, Staples, CVS/pharmacy, Jersey Mike’s Subs, Chase Bank and True Value Hardware. Brandon Szwalbenest, Dev Morris and Andrew …

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Commerce-District-Valley-Ranch
DevelopmentGrocery-anchoredLeasingMixed-useNewsTexas

Signorelli Co. Signs H-E-B to Anchor Commerce District at Valley Ranch in Metro Houston

by Abby Cox

New Caney, Texas — The Signorelli Co. has signed a lease with H-E-B to anchor Commerce District at Valley Ranch, a mixed-use project located within the 1,400-acre Valley Ranch master-planned community in New Caney, roughly 30 miles northeast of downtown Houston. The first phase, dubbed Commerce West, will be anchored by a 120,000-square-foot H-E-B supermarket that is scheduled to open in fall 2027. In addition to H-E-B, Commerce West includes approximately 19,500 square feet of retail space and two outparcel opportunities for complementary restaurants, retail and service-oriented businesses. Commerce East, the …

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Westwood Town Center
Grocery-anchoredInvestment salesNewsOhio

KPR Acquires Westwood Town Center in Rocky River, Ohio, for $28.2 Million

by Abby Cox

Rocky River, Ohio — KPR Centers has acquired Westwood Town Center, a 226,155-square-foot shopping center in Rocky River, a suburb of Cleveland, for $28.2 million. The Home Depot and Marc’s, a regional grocery store, anchor the property, which was 95 percent occupied at the time of sale. Other tenants include AMC Theatres, Dollar Tree, FedEx and Third Federal Savings & Loan. Westwood Town Center also has nearly 11,000 square feet of space available for lease. Michael Nieder and Brian Page of JLL represented the seller, Zeisler Morgan Properties, in the …

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CaliforniaGrocery-anchoredInvestment salesNews

JLL Arranges $20.5 Million Sale of Crown Valley Mall Near Laguna Beach, California

by Abby Cox

Laguna Niguel, Calif. — JLL Capital Markets has arranged the $20.5 million sale of Crown Valley Mall, a 62,627-square-foot, grocery-anchored retail center located near Laguna Beach. A private family, which had owned the property since it was originally built in 1969, sold the property to Charlotte, North Carolina-based Asana Partners. Tenants at Crown Valley Mall include Smart & Final, Baja Fish Tacos, Domino’s and Avis. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller and sourced the all-cash institutional buyer in the transaction.

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