Perth Amboy, N.J. — Sterling Organization has acquired Convery Plaza, a 94,430-square-foot neighborhood shopping center located in the Northern New Jersey city of Perth Amboy, approximately 20 miles south of Newark. A ShopRite grocery store anchors the center, which features a mix of additional tenants such as H&R Block, Dunkin’, Taco Bell and Santander Bank.
Batavia, Ill. — Mid-America Real Estate Corp. has brokered the sale of Wind Point Shopping Center, a 255,704-square-foot grocery-anchored shopping center located in Batavia, a western suburb of Chicago. Aldi anchors the property, which was 98.7 percent leased at the time of sale. Other tenants include Kohl’s, Hobby Lobby, Harbor Freight Tools, OfficeMax, HobbyTown, Pickled!, Petland and AT&T. Ben Wineman and Emily Gadomski of Mid-America Real Estate Corp. represented the seller, New Orleans-based PMAT Real Estate Investments. The center was acquired by Fayetteville, Arkansas-based Core Equity Partners.
Poughkeepsie, N.Y. — Basis Investment Group has provided a $27.5 million bridge loan to refinance the existing debt of Plaza 44, a 168,713-square-foot, grocery-anchored neighborhood shopping center located north of New York City in Poughkeepsie. Capstone Realty was the borrower. Stop & Shop anchors the property, which houses a mix of other tenants such as Ross Dress for Less, Dollar Tree and KeyBank, as well as additional local businesses. Capstone plans to renovate the center and market the property for sale in the next two years.
Naperville, Ill. — JLL Capital Markets has arranged $27.3 million in financing for the acquisition of Market Meadows, a 149,185-square-foot shopping center located in Naperville, approximately 28 miles west of Chicago. Jewel-Osco anchors the property, which was 98.3 percent leased at the time of sale. Additional tenants include U.S. Bank, BMO Bank, T-Mobile, Chipotle Mexican Grill, Jersey Mike’s and McDonald’s. Chris Drew, Travis Anderson, Chris Knight, Wells Waller and Merrick Evans arranged the seven-year, fixed-rate loan through Principal Asset Management on behalf of the borrower, Barings. Rick Drogosz and Eric Geskermann of Mid-America Real …
Boston — CBRE has arranged the sale of Brighton Mills, a 91,000-square-foot grocery-anchored retail center situated in the Boston neighborhood of Brighton. Urban Edge Partners acquired the property for $39 million from Harvard University. New England supermarket chain Star Market anchors Brighton Mills, which features a mix of additional tenants such as Petco, Spring Shabu-Shabu, Bank of America and McDonald’s. Nat Heald, Jordana Roet, Connor Scott and Scott Dragos of CBRE’s National Retail Partners team procured the buyer and represented the seller in the transaction.
Stamford, Conn. — Zelco Properties & Development, along with a real estate private equity firm and an operating partner focused on retail real estate, have acquired a 153,000-square-foot Whole Foods Market-anchored shopping center located at 110 High Ridge Road in Stamford. The purchase price was $62 million, as reported by CT Insider. The first floor of the property is fully occupied by Whole Foods, while the second level offers 24,000 square feet of available space adjacent to Saks OFF 5TH. The third floor comprises an additional 50,000 square feet. Charter Realty …
Lancaster, Pa. — CBRE has brokered the sale of The Shops at Prospect, a 63,392-square-foot shopping center in Lancaster, located roughly midway between Philadelphia and Harrisburg. Grocer Giant anchors the center, which is also home to tenants such as Penn State Health and Hillcrest Pharmacy. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE represented the seller, Brixmor Property Group, in the transaction. Bennett Williams Commercial represented the buyer, Deerin Cos.
Easton, Pa. — CBRE has negotiated the sale of Forks Town Center, a 100,250-square-foot shopping center located in the Lehigh Valley city of Easton. Giant Food anchors the center, which was fully leased at the time of sale. Additional tenants include Dunkin’, PNC Bank, Fine Wine & Good Spirits and Verizon Wireless. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE’s National Retail Partners team represented the seller, JC Bar Properties Inc., in the transaction.
Sharpsburg, Ga. — Hanley Investment Group Real Estate Advisors has brokered the $26.9 million sale of Fischer Marketplace, a newly constructed, 70,134-square-foot Publix-anchored shopping center in Sharpsburg, approximately 38 miles southwest of Atlanta. Additional tenants at the property, which was fully occupied at the time of sale, include Jersey Mike’s, Dave’s Hot Chicken, Nothing Bundt Cakes and Great Clips. The sale also features three outparcels leased to Gusto!, Heartland Dental and Andy’s Frozen Custard. Publix occupies approximately 69 percent of the property on a long-term lease. Kevin Fryman and Ed Hanley …
Charlottesville, Va. — A joint venture between Cohen & Steers Income Opportunities REIT (CNSREIT) and Philips Edison & Co. (PECO) has acquired Rio Hill Shopping Center, a 288,000-square-foot open-air shopping center located near the University of Virginia (UVA) in Charlottesville. This transaction marks CNSREIT’s third acquisition with PECO and its seventh open-air shopping center. Rio Hill Shopping Center is leased to Kroger and two TJX concepts. The sales price was not disclosed.
