Grocery-anchored

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ConnecticutGrocery-anchoredInvestment salesNews

Clarion Partners Acquires 156,568-Square-Foot, Grocery-Anchored Center in Norwalk, Connecticut

by Abby Cox

Norwalk, Conn. — Clarion Partners, on behalf of Clarion Partners Real Estate Income Fund, has acquired Main Avenue Shopping Plaza, a 156,568-square-foot shopping center located in the southern coastal Connecticut city of Norwalk. According to the Hartford Business Journal, the property sold for $45.2 million. The retail center, which was fully leased at the time of sale, is anchored by Stop & Shop, Hobby Lobby and Total Wine & More. JLL represented the seller, a joint venture between Sagehall Partners and The Prusik Group, in the transaction.

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AlabamaGrocery-anchoredInvestment salesNews

IPA Brokers $23.1 Million Sale of Publix-Anchored Shopping Center in Alexander City, Alabama

by Abby Cox

Alexander City, Ala. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $23.1 million sale of The Gateway at Lake Martin, a grocery-anchored shopping center located in east-central Alabama. Built in 2024, the 93,352-square-foot center is situated on a 22-acre site. The Gateway at Lake Martin features a mix of tenants including Publix, Marshalls, Starbucks Coffee, Rack Room Shoes and Five Below, as well as four outparcels that were not part of the transaction. Zach Taylor of IPA’s Atlanta office, along with Robby Pfeiffer and …

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CaliforniaGrocery-anchoredInvestment salesNews

Paragon Acquires 46,055-Square-Foot Grocery-Anchored Center in Los Angeles

by Abby Cox

Los Angeles — Paragon Commercial Group has acquired a 46,055-square-foot shopping center located in the Tujunga neighborhood of Los Angeles. The property is anchored by Smart & Final, a tenant of more than 30 years, and Goodwill, which has occupied the center for 25 years. Paragon plans to upgrade the center with improvements to the common area, façades, lighting and signage. Greg Offsay and Caleb Morrison of illi Commercial Real Estate represented the buyer in the off-market transaction. The seller was the family of the original developer that had owned and operated …

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Grocery-anchoredInvestment salesNewsTexas

Marcus & Millichap Arranges Sale of 13,079-Square-Foot Retail Property in Metro Dallas

by Abby Cox

Little Elm, Texas — Marcus & Millichap has arranged the sale of India Bazaar Plaza, a 13,079-square-foot retail property located in Little Elm, approximately 33 miles north of downtown Dallas. Built in 2018, the retail center is fully leased to South Asian grocery operator India Bazaar, and Shahnaz Salon & Threading, under triple-net leases. Scott Abeel and Philip Levy of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both private investors.

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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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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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