Grocery-anchored

Palm-Breeze-Plaza_Jensen-Beach-Fla
FloridaGrocery-anchoredInvestment salesNews

Plaza Advisors Arranges Sale of 48,110-Square-Foot Shopping Center in South Florida

by Hayden Spiess

Jensen Beach, Fla. — Plaza Advisors has arranged the sale of Palm Breeze Plaza, a 48,110-square-foot shopping center located in Jensen Beach. Winn-Dixie anchors the property, which was fully leased at the time of sale. Other tenants at the center include Winn-Dixie Liquor, Domino’s, Carquest and St. Lucie Medical Specialists. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the seller, FrostPoint Capital, in the transaction. FrostPoint acquired Palm Breeze Plaza in 2020 and completed extensive renovations at the property. 

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Braemar Village Center
Grocery-anchoredInvestment salesNewsVirginia

Sterling Organization Acquires Braemar Village Center in Metro D.C. for $31.4 Million

by Hayden Spiess

Bristow, Va. — Sterling Organization has acquired Braemar Village Center, a retail center located in Bristow, roughly 40 miles outside Washington, D.C., for $31.4 million. A 57,860-square-foot Safeway anchors the property, which totals 111,635 square feet. Other tenants at the center include Dunkin’ Donuts, Subway, Bank of America and Arby’s. 

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Hilltop-Commons_Derby-Conn
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $33 Million Sale of Hilltop Commons in Connecticut

by Hayden Spiess

Derby, Conn. — CBRE has arranged the $33 million sale of Hilltop Commons, a newly redeveloped retail center located in Derby. Biy Y, CVS/pharmacy, Dollar Tree and American Freight anchor the property. Other tenants at the center include Verizon, AT&T, McDonald’s, Wendy’s and Sherwin Williams. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, DLC And Hutensky Capital Partners, in the transaction. Kempner Properties and Lee & Associates NYC acquired the property. 

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Shops-at-SunVet_Holbrook-N.Y
DevelopmentGrocery-anchoredNew YorkNews

Regency Breaks Ground on Redevelopment of 280,000-Square-Foot Mall on Long Island

by Hayden Spiess

Holbrook, N.Y. — Regency Centers has broken ground on the redevelopment of the 280,000-square-foot former SunVet Mall in Holbrook on Long Island. Plans for the property, which has been renamed The Shops at SunVet, include a 168,000-square-foot open-air shopping center with six outparcels. Whole Foods Market will anchor the center. Demolition of the existing structure is underway, with new construction scheduled to begin in spring 2024. SBLM Architects is the lead architect on the project. 

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Dorneyville-Shopping-Center_Allentown-Pa
Grocery-anchoredInvestment salesNewsPennsylvania

IPA Brokers $17.8 Million Sale of Retail Center in Allentown, Pennsylvania

by Hayden Spiess

Allentown, Pa. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $17.8 million sale of Dorneyville Shopping Center, a 101,651-square-foot retail center located in Allentown. Aldi anchors the property, which was 86 percent leased at the time of sale. Brad Nathanson and JP Colussi of IPA represented the seller, Joshi Hotel Group, in the transaction. LS Property acquired the center. 

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11265-11321-Ventura-Blvd-Los-Angeles-CA
CaliforniaDevelopmentFinanceGrocery-anchoredNews

Gantry Arranges $21.6 Million Construction Financing for Retail Project in Los Angeles

by Hayden Spiess

Los Angeles — Gantry has arranged a $21.6 million loan for the development of a grocery-anchored retail project in Los Angeles. Upon completion, the project will comprise 33,700 square feet. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the five-year financing, which one of the firm’s correspondent lenders provided, on behalf of the undisclosed borrower.

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Scottsville-Shopping-Center_Scottsville-Ky
Grocery-anchoredInvestment salesKentuckyNews

Legacy Brokers Sale of 31,800-Square-Foot Retail Center in Scottsville, Kentucky

by Hayden Spiess

Scottsville, Ky. — Legacy Realty Group Advisors has brokered the sale of Scottsville Shopping Center, a 31,800-square-foot retail center located in Scottsville. Food Lion anchors the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction. 

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DevelopmentGrocery-anchoredLeasingMixed-useNewsWisconsin

Whole Foods to Open 50,000-Square-Foot Store in Madison, Wisconsin

by Hayden Spiess

Madison, Wis. — Whole Foods Market will open a new, 50,000-square-foot store in Madison on Dec. 13. This marks a relocation of the brand’s existing Madison store, which has been open since 1996. The store will anchor the 21-acre Madison Yards mixed-use development, which will also feature additional retail, restaurant and entertainment space surrounding a central green plaza. Products at the store will include more than 800 local items from the Midwest. 

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Strawflower-Village-Half-Moon-Bay-CA
CaliforniaGrocery-anchoredInvestment salesNews

Matthews Negotiates $34 Million Sale of Shopping Center in Metro San Francisco

by Hayden Spiess

Moon Bay, Calif. — Matthews Real Estate Investment Services has arranged the sale of Strawflower Village Shopping Center, a 78,940-square-foot retail center located in Moon Bay, approximately 30 miles south of San Francisco. A 33,000-square-foot Safeway anchors the center, which was 96 percent leased at the time of sale. Other tenants include T-Mobile, Chase Bank and US Bank. SJ Amoroso Properties Co. acquired the property from HMB Musich LLC for $34 million. Marko Buljan of Matthews represented the seller in the transaction. Tim Gilmartin of The Gilmartin Group represented the buyer.

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Crescent-City-Plaza
FloridaGrocery-anchoredInvestment salesNews

CrossMarc Services Acquires 47,945-Square-Foot Shopping Center in Florida

by Hayden Spiess

Crescent City, Fla. — CrossMarc Services LLC has purchased Crescent City Plaza, a 47,945-square-foot shopping center located in Crescent City, for $2.7 million. Built in 1974 and remodeled in 2019, the property is leased to tenants including Save-A-Lot and Family Dollar. Situated on 7.6 acres, the center also features a parcel for future outparcel development. Jimmy and Leo Island Properties was the seller. CrossMarc Services will handle leasing and management at the property.

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