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 …
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.
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.
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.
Fayetteville, Ark. — Edgemark Communities has purchased College Marketplace, a 64,226-square-foot shopping center located in Fayetteville. Whole Foods Market anchors the center, which was built on a seven-acre site in 2015 near the University of Arkansas campus. Other tenants at the property include Chipotle Mexican Grill, Great Clips, Cava and Alumni Hall.
Reidsville, N.C. — First National Realty Partners (FNRP) has acquired Freeway Crossing, an 88,647-square-foot shopping center located in Reidsville. A 39,708-square-foot Lowes Foods anchors the property. Other tenants at the center include Dollar Tree, Hibbett Sports, CATO, Workout Anytime and Papa Johns. Addison Montague of Berkley Capital Advisors represented the undisclosed seller in the transaction. This marks FNRP’s third acquisition in North Carolina.
Las Vegas — Vestar has been selected to provide management services for Vista Commons, a 100,000-square-foot retail center located in the Summerlin neighborhood of Las Vegas. Albertsons anchors the property, which is fully occupied. Other tenants at the center include Wells Fargo, State Farm, Subway, Bank of America and Dunkin’ Donuts. Vestar will manage Vista Commons on behalf of an institutional client that recently acquired the property. Gleb Lvovich and Daniel Tyner of JLL Capital Markets brokered the acquisition. This marks the fifth Las Vegas property in Vestar’s management portfolio.
Vorhees Township, N.J. — KPR Centers has acquired Eagle Plaza, a 230,000-square-foot shopping center in Vorhees Township, for $41.7 million. The property was leased to approximately 40 retailers and restaurants, including anchor Acme Markets, at the time of sale. Other tenants at the center include Ross Dress for Less, Five Below, Chipotle Mexican Grill and Ace Pickleball Club. JP Colossi and Brad Nathanson of IPA brokered the transaction.