Philadelphia — The Palomar Group has brokered the sale of South Philadelphia Shopping Center, a 221,157-square-foot retail center located in Philadelphia. Tenants at the property include ShopRite, Ross Dress for Less, Five Below, Burger King, Sherwin-Williams, The Aaron’s Company and Dunkin’ Donuts. Palomar facilitated the transaction on behalf of the seller, a publicly traded REIT. A New York-based investor was the buyer.
Jacksonville, Fla. — Kimco Realty has acquired The Markets at Town Center, a 254,000-square-foot shopping mall located in Jacksonville, for $108 million. Sprouts Farmers Market anchors the property, which was built in 2008. Other tenants at the center, which was 97 percent leased at the time of sale, include Ulta Beauty, Cooper’s Hawk Winery & Restaurant, Five Below, REI, J. Crew, Ballard Designs, Nordstrom Rack, DXL Big & Tall, Gen Korean BBQ House and Chipotle Mexican Grill. Kimco acquired the property through its Structured Investment Program, which provides mezzanine financing …
Short Pump, Va. — Wafra Inc. has sold Short Pump Station, a 91,369-square-foot shopping center in Short Pump, located roughly 10 miles northwest of Richmond. Nuveen Real Estate acquired the property for nearly $55 million, making the center the investor’s second acquisition in the Richmond metro area. Situated on 147 acres, the retail development is anchored by Trader Joe’s. Other tenants at the property include Ulta Beauty and Petco. John Owendoff of Cushman & Wakefield, along with Catharine Spangler of Cushman & Wakefield | Thalhimer, represented Wafra in the transaction. …
Goose Creek, S.C. — Marcus & Millichap has arranged the $8 million sale of Harbour Lake Plaza, a 62,198-square-foot retail center located in Goose Creek, roughly 20 miles outside Charleston. Food Lion anchors the center, which occupies 51 percent of the property. The center was 97 percent leased at the time of sale to tenants including Rent-A-Center, Cricket Wireless and H&R Block. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a private investor, in the transaction. Ani Paulson and Allyssa Paragano of The AP Group procured …
North Brunswick, N.J. — Ace Pickleball Club has announced plans to open a venue at Brunswick Shopping Center in North Brunswick. Levin Management Corp. (LMC) manages and leases the center, which totals 288,000 square feet. Fred Younkin of LMC negotiated the lease on behalf of the landlord, and Marta Villa of CBRE represented the tenant in the lease negotiations. Ace Pickleball Club will occupy a 26,500-square-foot space adjacent to Lidl at the center. Other tenants at the property include LA Fitness, Dollar Tree, Sally Beauty, McDonald’s, Sherwin Williams and Tropical …
Greenwood Village, Colo. — Sterling Organization has acquired The Orchards, a 159,272-square-foot shopping center located in Greenwood Village, roughly 10 miles south of Denver. A 78,000-square-foot King Soopers store anchors the property. Sterling purchased the center on behalf of its $267 million Sterling United Properties II LP (SUP II) fund. SUP II’s portfolio now includes approximately 2 million square feet across 16 properties.
Park Ridge, N.J. — Marcus & Millichap has facilitated the $17 million sale of Ridgemont Shopping Center in Park Ridge, roughly 25 miles west of Newark. Lidl anchors the 71,650-square-foot retail property, which was built in 1962. Other tenants at the property, which was fully leased at the time of sale, include Staples, Chase Bank and Starbucks Coffee. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap and Bill Farkas of Jeffery Realty represented the seller and procured the buyer in the transaction.
Derby, Vt. and Wallingford, Conn. — Cronheim Mortgage has secured two loans totaling $9 million for the refinancing of shopping centers located in Vermont and Connecticut. National Realty & Development Corp. (NRDC) is the borrower. The properties include Shaw’s Plaza in Derby, Vermont, and Kohl’s Plaza in Wallingford, Connecticut. Built in 1968, Shaw’s Plaza totals 80,193 square feet. Shaw’s Supermarket anchors the property. Other tenants at the center include Dollar Tree and Maurice’s. Cronheim arranged a 10-year loan for the property. Kohl’s and Aldi anchor Kohl’s Plaza, which totals 159,600 …
Manalapan, Fla. —An affiliate of Garden Commercial doing business as Manalapan Plaza Del Mar LLC has acquired Plaza Del Mar, an 83,841-square-foot retail center located in Manalapan, roughly 50 miles north of Miami. According to the Palm Beach Daily News, the purchase price was $37 million. Publix anchors the property, which is situated on roughly 10.3 acres. Other tenants at the center include John G’s, Thaikyo Asian Cuisine, Art Basil Restaurant, The Ice Cream Club, Chico’s, Evelyn & Arthur and J. McLaughlin. Addicted Chic is also scheduled to open at …
Midlothian, Va. — S.L. Nusbaum Realty Co. (SLN) has brokered the $16 million sale of a 13-acre development parcel located in Midlothian, roughly 14 miles outside Richmond. Larry Agnew and Andrew Thacker of SLN represented the buyer, SJC Ventures, in the transaction. SJC Ventures plans to develop Midlothian Depot, a mixed-use project, at the site. Upon completion, the development will feature a specialty grocer, retail and restaurant space, residential units, multi-modal pathways, green spaces and a dog park. Site work will begin in fall 2025, with vertical construction scheduled to …
