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Grocery-anchored

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GeorgiaGrocery-anchoredInvestment salesNewsNorth Carolina

Nuveen Acquires Two Retail Centers Totaling 139,732 Square Feet

by Hayden Spiess

Atlanta and Charlotte, N.C. — Nuveen Real Estate has acquired two retail centers totaling 139,732 square feet in separate transactions. Roswell Wieuca in Atlanta was originally constructed in 1954 and comprises 73,370 square feet. The property is grocery-anchored and was 98 percent occupied at the time of sale. The second property, Specialty Shops SouthPark in Charlotte, was purchased in partnership with Hill Partners, which has managed and leased the property since 2014. Specialty Shops features 65,362 square feet and was fully leased at the time of sale.

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DevelopmentGrocery-anchoredMixed-useNewsTexas

Russell Glen to Develop 50,000-Square-Foot Tom Thumb at Shops at RedBird in Dallas

by Hayden Spiess

Dallas — Russell Glen Co. will develop a 50,000-square-foot Tom Thumb at The Shops at RedBird, the mixed-use redevelopment of Southwest Center Mall in Dallas. Construction is scheduled to begin later this year, with the opening planned for summer 2024. Terrence Maiden of Russell Glen and co-developer and investor Peter Brodsky are leading the redevelopment of the property, which has included $250 million of investment to date. An additional 30,000 square feet of adjacent retail and restaurant space is under construction at the development.

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Franciscan or Mohave Center-Freemont-Calif
CaliforniaGrocery-anchoredInvestment salesNews

JLL Brokers $40.5 Million Sale of Two Retail Centers in Fremont, California

by Hayden Spiess

Fremont, Calif. — JLL Capital Markets has brokered the $40.5 million sale of two retail centers located in Fremont. The first property, Franciscan Center, comprises 106,840 square feet and the second, Mohave Center, totals 10,228 square feet. Together, the centers were 92 percent leased at the time of sale to tenants including Safeway, Taco Bell, KFC, Burger King, Bank of America and 7-Eleven. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Eric Kathrein of JLL represented the undisclosed seller in the transaction. Sterling Organization acquired the properties.

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Publix_Village-Shoppes-Windermere_Suwanee
GeorgiaGrocery-anchoredInvestment salesNews

CBRE Arranges Sale of Publix-Anchored Shopping Center in Atlanta Suburb

by Hayden Spiess

Suwanee, Ga. — CBRE has arranged the sale of The Village Shoppes at Windermere, a Publix-anchored shopping center located in the Atlanta suburb of Suwanee. The 73,404-square-foot property was 93.3 percent leased at the time of sale to tenants including a dry cleaner, martial arts studio, nail salon, orthodontics office and a Mexican restaurant. Phillips Edison & Co. purchased the center from Affinius Capital (formerly USAA Real Estate) for an undisclosed price. Chris Decoufle, Kevin Hurley and Matt Karempelis of CBRE’s National Retail Partners – Southeast team represented the seller …

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Grocery-anchoredInvestment salesNew YorkNews

Cushman & Wakefield Arranges Sale of Two Retail Centers Totaling 416,544 Square Feet in Hamburg, New York

by Hayden Spiess

Hamburg, N.Y. — Cushman & Wakefield has arranged the sale of two adjacent retail centers comprising a total 416,544 square feet in Hamburg. Located at 4408 Milestrip Road, the first center, BJ’s Plaza, is anchored by BJ’s Wholesale Club and was fully leased to 10 tenants at the time of sale. The Home Depot anchors the second property, McKinley Milestrip, which is located at 4405 Milestrip Road and was 94 percent leased to 20 tenants at the time of sale. The centers comprise 176,045 and 240,499 square feet, respectively. Gary …

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DevelopmentGrocery-anchoredLeasingNewsTexas

NewQuest Underway on 90,000-Square-Foot Shopping Center Redevelopment in Houston

by Hayden Spiess

Houston —NewQuest Properties is underway on the 90,000-square-foot redevelopment of a retail center located in Houston. Formerly known as Pavilion Center, the property is being reimagined as West on West (WoW) and will be anchored by a 33,029-square-foot 99 Ranch Market, which is expected to open later this year. Other tenants will include Gen Korean BBQ House and Teso Life, which will occupy 6,212 square feet and 13,340 square feet, respectively. Exterior renovations are scheduled for completion this month. Plans include neon lighting elements, string lighting, an upcycled art installation …

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AlabamaGrocery-anchoredInvestment salesNews

SRS Arranges Sale of 57,850-Square-Foot Five Points Shopping Center in Tuscaloosa, Alabama

by Hayden Spiess

Tuscaloosa, Ala. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Five Points Shopping Center, a 57,850-square-foot retail center located in Tuscaloosa. Winn-Dixie anchors the property. Other tenants include Dollar Tree, AT&T, State Farm Insurance and H&R Block. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, an entity doing business as H&R Tuscaloosa LLC, in the transaction. The buyer, an entity doing business as Five Points SC LLC, purchased the property for an undisclosed price.

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CaliforniaFinanceGrocery-anchoredNewsWashington

BWE Secures $35 Million Refinancing for Shopping Center in Washington

by Hayden Spiess

Irvine, Calif. —Bellwether Enterprise Real Estate Capital LLC (BWE)’s Irvine office has arranged a $35 million loan for the refinancing of a shopping center located in the state of Washington. Tenants at the property, which was 95 percent leased at the time of sale, include a grocery store anchor and 100,000-square-foot big-box retailer. Tom Turnage and Joe Galosic Jr. of BWE secured the financing through a life insurance company on behalf of the borrower. The non-recourse loan carries a five-year term with interest-only payments for two years, followed by a …

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FloridaGrocery-anchoredInvestment salesNews

PGIM Sells Two Publix-Anchored Centers in Florida for $32 Million

by Hayden Spiess

Miramar and Jensen Beach, Fla. — PGIM Real Estate has sold two Publix Super Markets-anchored shopping centers in Florida to Phillips Edison & Co. for a combined $32 million. The properties include the 70,288-square-foot Shops at Sunset Lakes in Miramar and the 109,811-square-foot Town Center at Jensen Beach. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented PGIM in both transactions. Built in 1999, Shops at Sunset Lakes was 98.4 percent leased at the time of sale to Goodwill, State Farm Insurance, Sedation Dental Spa, Small World …

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CaliforniaDevelopmentGrocery-anchoredNews

Westar to Develop 175,000-Square-Foot Retail Center in Southern California

by Hayden Spiess

Rancho Mission Viejo, Calif. — Westar Associates will develop Esencia Commons, a 175,000-square-foot retail center in Rancho Mission Viejo. Upon completion, the property will feature a supermarket, fitness center, gas station and other retail and restaurant spaces. Groundbreaking for the project — which will be located within a 50-acre mixed-use development that includes an apartment community, business park, self-storage facilities and planned medical offices — is scheduled for the fourth quarter of this year. Westar will manage the property and has begun leasing efforts for the center.

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