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FloridaGrocery-anchoredInvestment salesNews

IPA Brokers $31 Million Sale of Shopping Center in Boynton Beach, Florida

by Hayden Spiess

Boynton Beach, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $31 million sale of Village Square at Golf, a 135,133-square-foot shopping center located in Boynton Beach. KC Market anchors the property, which was built in 1983 and renovated in 2012. Other tenants at the center, which was 93 percent occupied at the time of sale, include Enterprise Rent-A-Car, Quest Diagnostics, The UPS Store, Boynton Quality Medical Center and Anthony’s Ladies’ Apparel. Kirk Olson and Drew Kristol of IPA represented the seller, a publicly traded …

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GeorgiaGrocery-anchoredInvestment salesNewsTexasVirginia

Sterling Acquires $180.5 Million Shopping Center Portfolio 

by Hayden Spiess

West Palm Beach, Fla. — The West Palm Beach-based Sterling Organization has acquired a portfolio of three shopping centers for $180.5 million. The portfolio was purchased on behalf of the value add fund investment vehicle Sterling Value Add Partners IV L.P. ,and SITE Centers was the seller. The properties include Fairfax Towne Center in Fairfax, Virginia; Presidential Commons in Snellville, Georgia; and Village at Stone Oak in San Antonio.  Safeway anchors Fairfax Towne Center, which totals 253,392 square feet. Other tenants at the property include T.J. Maxx, Regal Cinemas and JOANN …

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FloridaGrocery-anchoredInvestment salesNews

Benderson Acquires 280,000-Square-Foot Retail Center in Fort Myers, Florida

by Hayden Spiess

Fort Myers, Fla. — Benderson Development has acquired Cypress Trace, a 280,000-square-foot retail center located in Fort Myers. Winn-Dixie anchors the property, which spans 29 acres. Other tenants at the center include Five Below, Burlington and Ross Dress for Less. Benderson’s other recent acquisitions in the state include Carillon Place in Naples, North River Marketplace in Venice, Glengary Shoppes in Sarasota and Linton Commons in Delray Beach. 

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The Meridian
DevelopmentGrocery-anchoredMixed-useNewsPennsylvania

Greystar, ECHO Realty Break Ground on Multifamily, Retail Development in Pittsburgh

by Hayden Spiess

Pittsburgh — A joint venture between Greystar and ECHO Realty has broken ground on Ophelia and The Meridian, a multifamily and retail project located at the intersection of Penn and Shady avenues in Pittsburgh.  The development will include Ophelia, a 231-unit multifamily project by Greystar; The Meridian, a 44,000-square-foot retail development spearheaded by ECHO Realty; and parking for both retail and residential uses. Ophelia will offer units in studio, one- and two-bedroom configurations, 35 of which will be subject to income restrictions under the city’s affordable housing program. Shared amenities will …

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Grocery-anchoredInvestment salesNew YorkNews

IPA Negotiates $14 Million Sale of Upstate New York Shopping Center

by Katie Sloan

Binghamton, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14 million sale of Price Chopper Plaza, a 127,000-square-foot shopping center located in the upstate New York community of Binghamton. Regional grocer Price Chopper has been the anchor tenant at the center, which was 97 percent leased at the time of sale, since 1987. Other tenants include Planet Fitness, Big Lots and Dollar Tree. Jim Koury of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Grocery-anchoredInvestment salesIowaNews

Cleeman Realty Group Arranges Sale of 50,000-Square-Foot Shopping Center in Iowa

by Hayden Spiess

Shenandoah, Iowa — Cleeman Realty Group has arranged the sale of Orchard Corners, a 50,000-square-foot shopping center located in Shenandoah. Hy-Vee anchors the property, which was 87 percent occupied at the time of sale. Other tenants at the center include Scooter’s Coffee and McDonald’s. Jeremy Scheer of Cleeman represented both the buyer and seller in the transaction. 

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Grocery-anchoredInvestment salesMarylandNews

KLNB Brokers $16.7 Million Sale of Shopping Center in Metro Baltimore

by Hayden Spiess

Arbutus, Md. — KLNB has brokered the $16.7 million sale of Arbutus Shopping Center in Arbutus, roughly 10 miles outside Baltimore. Weis Markets anchors the property, which totals 87,939 square feet and was 95 percent occupied at the time of sale. Other tenants at the center include Walgreens, Advance Auto Parts, Dollar Tree and Truist Bank. Meir Duke of Duke Arbutus acquired Arbutus Shopping Center from AmCap Inc., which acquired the property in 1981.  Chris Burnham and Vito Lupo of KLNB represented the seller in the transaction, and MFI Realty represented the …

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Grocery-anchoredInvestment salesMississippiNews

Legacy Arranges Sale of 110,248-Square-Foot Shopping Center in Ocean Springs, Mississippi

by Hayden Spiess

Ocean Springs, Miss. — Legacy Realty Group Advisors has arranged the $8.2 million sale of Spring Plaza, a 110,248-square-foot shopping center located in Ocean Springs. Winn-Dixie anchors the property. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy represented the buyer in the transaction. Dex Shill of NAI Latter & Blum represented the seller. 

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Grocery-anchoredInvestment salesNewsVirginia

Cushman & Wakefield Brokers Sale of 397,605-Square-Foot Shopping Center in Richmond, Virginia

by Hayden Spiess

Richmond, Va. — Cushman & Wakefield has brokered the sale of White Oak Village Center, a 397,605-square-foot shopping center located in Richmond. Triple BAR White Oak acquired the property, which was 94 percent leased at the time of sale, from an undisclosed seller. Publix, Michaels, PetSmart and JCPenney anchor the center. John Owendoff and Catharine Spangler of Cushman & Wakefield represented the seller in the transaction. 

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