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Harbour Lake Plaza
FinanceGrocery-anchoredInvestment salesNewsSouth Carolina

Marcus & Millichap Arranges $8 Million Sale of Retail Center in Metro Charleston

by Abby Cox

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 …

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Brunswick Shopping Center
Grocery-anchoredLeasingNew JerseyNews

Ace Pickleball Club to Open at Brunswick Shopping Center in North Brunswick, New Jersey

by Abby Cox

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 …

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The Orchards
ColoradoGrocery-anchoredInvestment salesNews

Sterling Acquires 159,272-Square-Foot Shopping Center in Metro Denver

by Abby Cox

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.

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Ridgemont Shopping Center
Grocery-anchoredInvestment salesNew JerseyNews

Marcus & Millichap Facilitates $17 Million Sale of Retail Center in Park Ridge, New Jersey

by Abby Cox

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.

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ConnecticutFinanceGrocery-anchoredNewsVermont

Cronheim Secures $9 Million Refinancing for Shopping Centers in Vermont, Connecticut

by Abby Cox

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 …

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Plaza-Del-Mar_Manalapan
FloridaGrocery-anchoredInvestment salesNews

Garden Commercial Acquires 83,841-Square-Foot Retail Center in Manalapan, Florida

by Abby Cox

Manalapan, Fla. —An affiliate of GardenCommercial 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 the …

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Midlothian-Depot_Midlothian-Va
DevelopmentGrocery-anchoredInvestment salesMixed-useNewsVirginia

SLN Brokers $16 Million Sale of Development Parcel in Midlothian, Virginia

by Abby Cox

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 …

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ArizonaGrocery-anchoredInvestment salesNews

Flying Horse Investments Acquires 53,630-Square-Foot Retail Center in Metro Phoenix

by Abby Cox

Mesa, Ariz. — Flying Horse Investments (FHI) has acquired Fiesta Palms Shopping Center, a 56,630-square-foot retail center located in Mesa, roughly 20 miles outside Phoenix. A specialty grocer anchors the property, which was 83 percent leased at the time of sale. 1st Century Bank, a division of MidFirst Bank, provided acquisition financing, and Justin Weissman of 1st Century Bank arranged the bridge loan on behalf of the buyer. A local family was the seller. FHI plans to collaborate with Pegasus Capital Markets to secure permanent financing for the property.

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DevelopmentGrocery-anchoredInvestment salesNewsWashington

SimonCRE Acquires 89,002-Square-Foot Retail Center in Washington, Plans Redevelopment 

by Hayden Spiess

Spanaway, Wash. — SimonCRE has acquired an 89,002-square-foot retail center located in Spanaway, with plans to redevelop the property. Plans for the center include the addition of a grocery anchor, as well as other new tenants. According to SimonCRE, redevelopment efforts at the property will be focused on updating existing structures. 

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FloridaGrocery-anchoredInvestment salesNews

CTO Realty Growth Acquires Retail Center in Metro Tampa for $16.8 Million

by Hayden Spiess

Dunedin, Fla. — CTO Realty Growth Inc. has acquired Granada Plaza, a 74,000-square-foot retail center located in the Tampa suburb of Dunedin. Publix anchors the property, which was 95 percent leased at the time of sale. An undisclosed seller sold the property for $16.8 million. According to LoopNet Inc., Granada Plaza was developed in 1983.

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