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FinanceGrocery-anchoredInvestment salesNew JerseyNews

Cronheim Mortgage Arranges $13.1 Million Acquisition Financing for Two Retail Centers in New Jersey

by Hayden Spiess

Elizabeth and Roselle, N.J. — Cronheim Mortgage has arranged a $13.1 million loan for the acquisition of two retail centers located in New Jersey. The first property, Color Plaza, comprises 49,309 square feet in Elizabeth. Tenants at the center, which was fully leased at the time of the transaction, include Seabras and CVS/pharmacy.  Developed in 2004, the second property is Roselle Commons in Roselle. The center was fully leased at the time of the transaction to tenants including Pep Boys, Green Grocer, Quest Diagnostics, GNC and T-Mobile.  Andrew Stewart, Dev Moris …

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Bluffs-Square-Shoppes_Jupiter-Fla
FloridaGrocery-anchoredInvestment salesNewsUncategorized

JLL Brokers $39.1 Million Sale of Shopping Center in Jupiter, Florida

by Hayden Spiess

Jupiter, Fla. — JLL Capital Markets has brokered the $39.1 million sale of Bluffs Square Shoppes, a 123,917-square-foot shopping center located in Jupiter. Constructed in 1986, the property is anchored by Publix. Other tenants at the center, which was 98 percent leased at the time of sale, include Walgreens, Uncle Eddie’s, Anthony’s Women Apparel, Goodwill, UPS, Toojay’s Deli and Cafe Solé. Danny Finkle, Jorge Portela, Eric Williams and Kim Flores of JLL represented the seller, Sterling Organization, in the transaction. BPS Partners acquired the property. 

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DevelopmentFinanceGrocery-anchoredNew YorkNews

Eastern Union Secures $62.3 Million Construction Financing for Mixed-Use Development in New York City

by Hayden Spiess

New York City — Eastern Union has secured a $62.3 million loan for the construction of a mixed-use development in the Brooklyn borough of New York City. Upon completion, the property will total 105,000 square feet, including a 33,000-square-foot Lidl. The project will also feature an additional 12,000 square feet of retail space, 57 residential units, 12,000 square feet of office space and a 9,000-square-foot community facility. Abraham Bergman and Yossi Orzel of Eastern Union arranged the two-year, floating-rate financing through Invictus Real Estate Partners, Maxim Capital Group and Beach Point …

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CaliforniaGrocery-anchoredLeasingNews

Seven Tenants Join The Square Cypress in Metro Los Angeles

by Hayden Spiess

Cypress, Calif. — Seven new tenants are joining The Square Cypress, a mixed-use retail center located in Cypress, roughly 25 miles outside Los Angeles. Trader Joe’s has opened a store at the center, and BLK Dot Coffee, Board & Brew Specialty Sandwiches, Dr. Footman, El Zarape, The Kebab Shop and YogaSix have also signed leases at the property. The Square Cypress features 31,000 square feet of grocery, retail and restaurant space, with plans for the addition of an apartment community, hotel and medical office building. 

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Grocery-anchoredIndianaInvestment salesNews

Northmarq Arranges Acquisition of 132,156-Square-Foot Retail Center in Indianapolis

by Hayden Spiess

Indianapolis — Northmarq has arranged the acquisition of Clearwater Springs Shopping Center, a 132,156-square-foot retail center located in Indianapolis. ALDI, Haverty’s Furniture and Michaels anchor the property, which is situated on 34.5 acres. Other tenants at the center include Starbucks Coffee, Athletico, David’s Bridal and AT&T. Blaise Bennett of Northmarq represented the Ohio-based buyer in the transaction. Wes Podell of Podell Partners represented the undisclosed seller. 

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White-House-Shops_White-House-Tenn
DevelopmentGrocery-anchoredNewsTennessee

Sembler to Develop 75,000-Square-Foot Retail Center in Metro Nashville

by Hayden Spiess

White House, Tenn. — The Sembler Co. has announced plans for White House Shops, a 75,000-square-foot retail center to be developed in White House, roughly 30 miles outside Nashville. Publix has signed a 48,387-square-foot lease to anchor the property, which will also feature 11,000 square feet of adjacent retail space and 9,000 square feet of shop space across two additional buildings. Completion of the project is scheduled for next summer. Semblar acquired the 20-acre site earlier this month from a private owner for an undisclosed price. 

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FinanceGrocery-anchoredMassachusettsNews

Protective Life Provides $10.5 Million Refinancing for Shopping Center in New Bedford, Massachusetts

by Hayden Spiess

New Bedford, Mass. — Protective Life, the Alabama-based holding company of Protective Life Insurance Co., has provided a $10.5 million refinancing for Rockdale Plaza, a 100,015-square-foot shopping center located in New Bedford. Stop & Shop anchors the center. The borrower, Yale Realty Services Corp., acquired the property in 1997.

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Adams-Marketplace_Huntington-Beach-Calif
CaliforniaGrocery-anchoredInvestment salesNews

JLL Brokers $29 Million Sale of Shopping Center in Metro Los Angeles

by Hayden Spiess

Huntington Beach, Calif. — JLL Capital Markets has brokered the $29 million sale of Adams Marketplace, a 65,116-square-foot shopping center located in Huntington Beach, approximately 35 miles southeast of Los Angeles. Built in 1974 and renovated in 2022, the property was 98 percent occupied at the time of sale. Smart & Final Extra anchors the center, with other tenants including Petco, Starbucks Coffee, MemorialCare Medical and Wingstop. Jiffy Lube, 76 Gas and Carl’s Jr. are also located at the center and were not included in the sale. Bryan Ley, Gleb Lvovich, …

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ArizonaGrocery-anchoredInvestment salesNews

Whitestone Acquires Arcadia Towne Center in Phoenix for $25.3 Million

by Hayden Spiess

Phoenix — Whitestone REIT has acquired Arcadia Towne Center, a 70,000-square-foot retail center located in Phoenix, for $25.3 million. A Safeway, not included in the sale, anchors the center. Tenants at the property include CVS/pharmacy, Tutor Time, Mathnasium, Over Easy, Sole Ports and Puff & Fluff Grooming. 

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Grocery-anchoredInvestment salesNewsTexas

JLL Negotiates Sale of 140,218-Square-Foot Independence Square Shopping Center in Plano, Texas

by Hayden Spiess

Plano, Texas — JLL has negotiated the sale of Independence Square, a 140,218-square-foot shopping center in Plano. Tom Thumb anchors the center, which was built in 1977 and renovated in 2005. Other tenants at the property, which was 94 percent leased at the time of sale, include Oscar Nail Lounge, Cookies by Design, Great Clips, Little Greek Restaurant, Frost Bank, Jersey Mike’s and Workout Anytime. Chris Gerard, Barry Brown, Erin Lazarus and Ben Esterer of JLL represented the undisclosed seller in the transaction. Head Capital Partners was the buyer.

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