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Grocery-anchoredIndianaInvestment salesNews

First National Realty Partners Acquires 268,000-Square-Foot Shopping Center in Indianapolis

by Hayden Spiess

Indianapolis — First National Realty Partners (FNRP) has acquired Southern Plaza in Indianapolis for an undisclosed price. A 59,500-square-foot Kroger store anchors the 268,000-square-foot shopping center. A tenant at the center since 1990, Kroger recently updated its storefront and renovated the interior. Additional tenants at the property include Ross Dress for Less, Harbor Freight, Oak Street Health, Goodwill, Rue 21, Qdoba, Cosmo Prof, BMO Bank and Sally Beauty. John May of Prodigy Real Estate Group represented the undisclosed seller in the transaction.

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New City Shopping Center
Grocery-anchoredInvestment salesNew YorkNews

KABR Group, BTF Purchase 125,110-Square-Foot Shopping Center in New City, New York

by Hayden Spiess

New City, N.Y. — The KABR Group, in partnership with BTF, has purchased New City Shopping Center, a 125,110-square-foot property located in New City, roughly 40 miles north of New York City. The grocery-anchored retail center was 96 percent leased at the time of the $30 million sale. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Oliver, Steve Simonelli, Andrew Scandalios and Austin Pierce of JLL Capital Markets represented the undisclosed seller in the transaction.

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Cedar-Hills-Crossing-Beaverton-Oregon
FinanceGrocery-anchoredNewsOregon

Gantry Arranges $61 Million Permanent Financing for Cedar Hills Crossing in Metro Portland

by Hayden Spiess

Beaverton, Ore. — Gantry has secured $61 million of permanent, long-term financing in the form of a 10-year loan for Cedar Hills Crossing, a 477,000-square-foot retail center located in Beaverton, seven miles outside of Portland. Blake Hering and Heather Kegler of Gantry arranged the financing, which featured a 12-month forward rate lock, on behalf of the borrower, C.E. John Company Inc. An undisclosed life company provided the loan. The shopping center is anchored by tenants including WinCo Foods, New Seasons Market, Ross Dress for Less, Office Depot and Best Buy …

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Laveen-Park-Place-Phoenix-AZ
ArizonaGrocery-anchoredInvestment salesNews

Tradewinds Capital Acquires Laveen Park Place Shopping Center in Phoenix for $40.3 Million

by Hayden Spiess

Phoenix — Tradewinds Capital LP has purchased the newly constructed Laveen Park Place, a shopping center located in the Laveen neighborhood of Phoenix. LB 59th LLC, an entity formed by Kitchell Corp., sold the property for $40.3 million. Built in phases between 2019 and 2022, Laveen Park Place offers 109,219 square feet of retail space on 17.5 acres at the southeast corner of Loop 202 and Baseline Road. Sprouts Farmers Market, TJ Maxx and Michaels are tenants at the fully occupied shopping center. Michael Hackett and Ryan Schubert of Cushman …

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River-City-Marketplace
Grocery-anchoredInvestment salesMissouriNews

First National Realty Partners Acquires 158,000-Square-Foot Shopping Center in Metro St. Louis

by Hayden Spiess

O’Fallon, Mo. — First National Realty Partners has acquired River City Marketplace in O’Fallon, about 37 miles northwest of St. Louis. A 31,000-square-foot Fresh Thyme Market anchors the 158,000-square-foot shopping center. Fresh Thyme has operated at the property since 2015. Additional tenants include Total Wine & More, Ross Dress for Less, Five Below, Kirkland’s and Kay Jewelers. The property was built in 2005, according to LoopNet. Evan Halkias, David Matheis and Link Dierks of Cushman & Wakefield represented the undisclosed seller in the transaction.

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Thurber-Village-Columbus-Ohio
DevelopmentGrocery-anchoredMixed-useNewsOhio

CASTO Breaks Ground on Thurber Village Redevelopment in Columbus

by Hayden Spiess

Columbus, Ohio — CASTO has announced the beginning of construction on its redevelopment of Thurber Village, located in Columbus. Following three years of planning, CASTO will undertake renovations to deliver the mixed-use project. The development will be anchored by a 21,000-square-foot Lucky’s Market and will also include a 13,000-square-foot CVS/pharmacy, 225 apartment homes and structured parking.

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Deerwood-Town-Center-Miami
FloridaGrocery-anchoredInvestment salesNews

JLL Arranges $44.9 Million Sale of Retail Center in Miami

by Hayden Spiess

Miami — JLL Capital Markets has brokered the $44.9 million sale of Deerwood Town Center, located in Miami. Danny Finkle, Eric Williams and Kim Flores of JLL arranged the transaction between the seller, Courtelis Company, and buyer, Core Investment Management. Fresco y Más and The Home Depot anchor the 205,803-square-foot property, which was fully leased at the time of sale. Other tenants include Amped Fitness, Pet Supermarket and TD Bank.

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Richland-Marketplace-Quakertown-Pennsylvania
Grocery-anchoredInvestment salesNewsPennsylvania

FNRP Acquires 162,000-Square-Foot Richland Marketplace in Quakertown, Pennsylvania

by Hayden Spiess

Quakertown, Pa. — First National Realty Partners (FNRP) has acquired Richland Marketplace, a 162,000-square-foot shopping center in Quakertown, about 50 miles north of Philadelphia. Built in 2009, the center houses tenants such as Aldi, Best Buy, PetSmart, Planet Fitness, Staples, Ulta Beauty, Visionworks, Sally Beauty and Skechers. Colin Behr and Chris Munley of JLL represented the undisclosed seller in the transaction.

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Loma-Linda-Plaza-California
CaliforniaGrocery-anchoredLeasingNews

Progressive Real Estate Partners Executes Lease for 20,100-Square-Foot Space in Loma Linda, California

by Hayden Spiess

Loma Linda, Calif. — Progressive Real Estate Partners has arranged a lease with Fitness 19 at Loma Linda Plaza, located in Southern California’s Inland Empire. Fitness 19 will take over a 20,100-square-foot space at the development, which is anchored by Stater Bros. Markets. Paul Su of Progressive represented the lessor, and Chris Beauchamp of Lee & Associates represented Fitness 19. Other tenants at the 117,000-square-foot center include Chevron, H & R Block, Carl’s Jr., Papa John’s Pizza and Boba Tea House.

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Grocery-anchoredInvestment salesNewsSouth Carolina

JLL Arranges $25.2 Million Sale of Coastal South Carolina Property

by Hayden Spiess

Bluffton, S.C. — JLL Capital Markets has brokered the sale of a 118,440-square-foot shopping center located in Bluffton, five miles from Hilton Head Island. Jim Hamilton, Brad Buchanan, Tom Kolarczyk and Andrew Kahn of JLL represented the seller, Jaz Development LLC, in the $25.2 million transaction. Anchored by Aldi, PGA TOUR  Superstore  and Hobby Lobby, Bluffton Shopping Center was 99 percent leased at the time of sale. Other tenants include First Watch, Tropical Smoothie Café, Sleep Number, Aspen Dental, The Spirited Hand and Boutique Nails. Serota Properties acquired the property.

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