Guilford, Conn. — Zelco Properties, the development and acquisition arm of Charter Realty, and Haverford Retail Partners have acquired Guilford Commons, a 123,000-square-foot retail center located in Guilford. Tenants at the property, which was originally opened in 2015, include The Fresh Market, Michaels, DSW, Ulta Beauty, Panera Bread, MOOYAH, Spavia, Pure Barre and Ivy Rehab. T.J. Maxx and Old Navy also recently signed leases at the center. Charter Realty will manage leasing at property.
Philadelphia — Grocery chain GIANT will open a new, 50,000-square-foot store at Andorra Shopping Center in Philadelphia. Construction of the space is scheduled to begin in 2025. Federal Realty Investment Trust is the landlord and also plans to reposition 30,000 square feet of existing retail space, with the two projects representing a combined investment of $25 million. Repositioning plans include the addition of landscaped plazas, outdoor dining and curbside pick-up spaces and expanded sidewalks.
Middle River, Md. — Neuman Commercial Group has arranged the $6.4 million sale of Hawthorne Plaza, a shopping center located in Middle River, roughly 10 miles outside downtown Baltimore. Originally developed in 1960, the property totals 69,582 square feet. Tenants at the center, which was 98 percent leased at the time of sale, include Family Dollar, ExoticHaus Furniture and Geresbeck’s Food Market. Gil Neuman of Neuman Commercial Group represented the buyer, Rockpark Group with Redwood Capital Group, in the transaction. Thornhill Properties Management represented the seller, Hawthorne Inc.
Newark, N.J. — New Jersey-based PGIM Real Estate has sold a portfolio of seven grocery-anchored shopping centers in Florida. An undisclosed buyer purchased the portfolio, which comprises a total of 608,314 square feet of retail space, for $223.9 million. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented PGIM in the disposition. Properties in the portfolio include Crestwood Square in Royal Palm Beach; Davie Shopping Center and Regency Square in Davie; Gladiolus Gateway in Fort Myers; Town Center at Orange Lake and Village Shops at Bellalago in Kissimmee; …
Providence Village, Texas — GBT Realty Corp. is underway on the development of Providence Marketplace, a retail center that will total 33,700 square feet in Providence Village, roughly 45 miles north of Dallas. A 23,300-square-foot Sprouts Farmers Market will anchor the property, which will also feature roughly 10,400 square feet of small shop space and three outparcels. GBT acquired the development site in August.
Oceanside, Calif. — CBRE has negotiated the sale of Plaza Rancho Del Oro, a 65,054-square-foot retail center located in Oceanside. A&C Properties sold the center for $34.3 million. Albertsons and Planet Fitness anchor the property, which was 92 percent leased at the time of sale. Other tenants include Starbucks Coffee, My Salon Suites, Upper Crust Pizza, Wells Fargo and Carl’s Jr. Jimmy Slusher, James Tyrrell and Megan Lanni of CBRE represented the seller. Reg Kobzi, Michael Peterson and Joel Wilson of CBRE assisted in closing the transaction.
Poughkeepsie, N.Y. — CBRE has arranged the $34 million sale of Hudson Heritage, a retail center located in Poughkeepsie. ShopRite anchors the property, which totals 120,499 square feet. Other tenants at the center, which was 92 percent leased at the time of sale, include CVS/pharmacy, Starbucks Coffee, Chipotle Mexican Grill, AT&T, Jersey Mike’s Subs, Burger King and PulseMD. An entity doing business as EFG/Saber Heritage SC LLC sold the property to East Coast Acquisitions. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller in the transaction.
Whiteville, N.C. — Legacy Realty Group Advisors has arranged the $5.5 million sale of Northfield Center, a retail center located in Whiteville. Food Lion anchors the property, which comprises 41,400 square feet. Jacob Baruch and Jonah Warshaw of Legacy Realty Group Advisors represented the undisclosed buyer in the transaction.
Tucson, Ariz. — First Washington Realty has sold Casas Adobes Plaza, a shopping center located in Tucson, for $51 million. Originally built in 1953 and remodeled in 2014, the property totals 92,300 square feet situated on 9.5 acres. Tenants at the property, which was 97 percent occupied at the time of sale, include Whole Foods Market, Starbucks Coffee, Pure Barre, Orangetheory Fitness and Chico’s. Patrick Dempsey and Geoff Tranchina of JLL Capital Markets arranged the transaction. Greg Brown and Jason Carlos of JLL secured acquisition financing through a correspondent life insurance …
Waretown, N.J. — First National Realty Partners (FNRP) has acquired Waretown Town Center, an 87,735-square-foot retail center located in Waretown. A 60,800-square-foot ShopRite anchors the property, which is situated along the Jersey Shore Line. Other tenants at the center include Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips. Colin Behr and Chris Munley of CB Richard Ellis represented the undisclosed seller in the transaction. This marks FNRP’s seventh shopping center acquisition in New Jersey.