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Grocery-anchored

The Plaza at East Cooper
Grocery-anchoredInvestment salesNewsSouth Carolina

JLL Arranges $14.3 Million Refinancing for Shopping Center Near Charleston, South Carolina

by Abby Cox

Mount Pleasant, S.C. — JLL Capital Markets has arranged $14.3 million in refinancing for The Plaza at East Cooper, a 102,731-square-foot shopping center located in Mount Pleasant, roughly two miles from downtown Charleston. Eric Tupler, Rob Bova and Ellie Savage of JLL’s Debt Advisory team, along with Alexis Kaiser of JLL’s Charlotte office, represented the borrower, Bamoza LLC, in securing the loan through an insurance company lender. ALDI anchors The Plaza at East Cooper, which was 85 percent leased at the time of sale. Other tenants include Firehouse Subs, Batteries …

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Bensalem Crossings
Grocery-anchoredInvestment salesNewsPennsylvania

Hanley Investment Group Arranges $12.5 Million Sale of Bensalem Crossings in Metro Philadelphia

by Abby Cox

Bensalem, Pa. — Hanley Investment Group Real Estate Advisors has arranged the $12.5 million sale of Bensalem Crossings, a 67,215-square-foot shopping center located in Bensalem, roughly 19 miles north of Philadelphia. Bensalem Crossings was fully leased at the time of sale and is anchored by ShopRite and CVS, which occupies 93 percent of the shopping center. Other tenants at the property include Verizon Wireless and a T-Mobile cell phone tower. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley Investment, in association with ParaSell Inc., represented both the seller, Adler Realty …

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The Shoppes at Jupiter
FloridaGrocery-anchoredInvestment salesNews

Orion Real Estate Sells The Shoppes at Jupiter in Florida for $52.8 Million

by Abby Cox

Jupiter, Fla. — Miami-based Orion Real Estate Group has sold The Shoppes at Jupiter, a 197,000-square-foot shopping center located in Jupiter for $52.8 million. Orion originally acquired the property in 2015 for $27.8 million. Palm Beach Gardens, Florida-based Ram Realty Advisors was the buyer. Noah Jones and Dan Lynch of Atlantic Retail facilitated the transaction. Ram Realty additionally secured a lease with Whole Foods Market to serve as the property’s primary anchor tenant. Built in 1981 and renovated in 2014, The Shoppes at Jupiter is anchored by Cinépolis Luxury Cinemas, Palm Beach …

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Valrico Centre
FloridaGrocery-anchoredInvestment salesNews

Matthews Negotiates Sale of 53,644-Square-Foot Valrico Centre Near Tampa, Florida

by Abby Cox

Valrico, Fla. — Matthews Real Estate Investment Services has negotiated the sale of Valrico Centre, a 53,644-square-foot shopping center located in the Tampa suburb of Valrico. Sprouts Farmers Market and PetSmart anchor the property, which also features health and wellness concept Orangetheory Fitness. Built in 2007 on 4.7 acres, the center was fully leased at the time of sale. An entity doing business as WEG Valrico LLC was the seller. Glen Alexander and Doug Desantis of Strategic Reality Services represented the buyer, West Cold Storage LLC, in the transaction. The sales …

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Stetson Village Shopping Center
ArizonaGrocery-anchoredInvestment salesNews

Longpoint Partners Acquires 144,192-Square-Foot Stetson Village Shopping Center in Phoenix

by Abby Cox

Phoenix — Lena Centers, a subsidiary of Longpoint Partners, has purchased Stetson Village, a 144,192-square-foot shopping center located in Phoenix, for $71 million. Built in 2007 on 18.6 acres, the property is anchored by a 57,860-square-foot Safeway. Other tenants at the center include Capriotti’s Sandwich Shop, Nekter Juice Bar, The UPS Store, First Watch and Great Clips. Ryan Schubert, Michael Hackett and Zach Aulick of CBRE represented the seller, Pederson Group, and the buyer in the transaction.

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Bloomington Commons
Grocery-anchoredIllinoisInvestment salesNews

Marcus & Millichap Brokers $13.4 Million Sale of Shopping Center in Bloomington, Illinois

by Abby Cox

Bloomington, Ill. — Marcus & Millichap has brokered the $13.4 million sale of Bloomington Commons, a grocery-anchored shopping center located in Bloomington. The 15-tenant property, which totals 132,966 square feet, is anchored by Schnucks. Other tenants include Barnes & Noble, The UPS Store, Kumon Math & Reading Center, Chuck E. Cheese and H&R Block. Schnucks, an anchor tenant since 1989, recently renewed its lease for 10 years. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local developer that sold the property after an eight-year hold …

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Ridge Park Square
Grocery-anchoredInvestment salesNewsOhio

JLL Arranges Sale of 386,754-Square-Foot Ridge Park Square in Suburban Cleveland

by Abby Cox

Brooklyn, Ohio — JLL Capital Markets has arranged the sale of Ridge Park Square, a 386,754-square-foot dual grocery-anchored shopping center located in Brooklyn, approximately six miles southwest of downtown Cleveland. Michael Nieder, Brian Page and Mohsin Mirza of JLL’s Investment Sales and Advisory team represented the seller, an affiliate of Zeisler Morgan Properties. The buyer was Atlanta-based RCG Ventures. Completed in 1989, Ridge Park Square was 95 percent leased at the time of sale. Marc’s and Grocery Outlet anchor the retail center, which features a mix of additional tenants such …

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Foothill Shopping Center
ArizonaGrocery-anchoredInvestment salesNews

Newmark Arranges $10.3 Million Sale of Foothill Shopping Center in Phoenix

by Abby Cox

Phoenix — Newmark has arranged the $10.3 million sale of Foothill Shopping Center, a 78,186-square-foot shopping center in Phoenix. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the Houston-based seller, SClay Management, which owned the property for nearly 50 years, in the transaction. The buyer was Lena Centers, a Boston-based investment firm that specializes in acquiring community-based grocery-anchored shopping centers across the country. CNG Ranch Market anchors Foothill Shopping Center, which includes a mix of additional tenants such as Harbor Freight Tools, Sun Star Buffet, H&R Block, TitleMax and Cricket Wireless. …

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Towne-Center-at-Cedar-Lodge
Grocery-anchoredInvestment salesLouisianaNews

DLC, DRA Advisors Acquire 316,031-Square-Foot Shopping Center in Baton Rouge, Louisiana

by Abby Cox

Baton Rouge, La. — A partnership between New York-based companies DLC and DRA Advisors has acquired Towne Center at Cedar Lodge, a 316,031-square-foot shopping center located in Baton Rouge, near the Louisiana State University campus. The purchase price was $81 million, according to the Baton Rouge Advocate. Whole Foods Market anchors the property, which was 93 percent leased at the time of sale. Other tenants include Barnes & Noble, Nike, Gap and Ulta Beauty.

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Kris Krossing
Grocery-anchoredInvestment salesNewsNorth CarolinaSouth Carolina

IPA Arranges Sale of Five Food Lion-Anchored Shopping Centers Totaling 248,030 Square Feet

by Abby Cox

Raleigh, N.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a five-property portfolio of Food Lion-anchored shopping centers totaling 248,030 square feet in the Carolinas. The properties include College Lakes Plaza in Fayetteville, North Carolina; Eden Centre in Eden, North Carolina; Kimberly Park in Carthage, North Carolina.; Kris Krossing in Conway, South Carolina; and West Pointe in Village Asheboro, North Carolina. Raleigh-based Genesis Properties purchased the portfolio from Richmond-based Capital Square for an undisclosed price. Dean Zang and David Crotts of IPA, …

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