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Food Lion Completes $212.5 Million Remodel of 112 Mid-Atlantic Stores

by Alex Tostado

Salisbury, N.C. — Food Lion has completed the $212.5 million remodel of 112 grocery stores in Virginia, West Virginia, Delaware, Pennsylvania and Maryland. The Salisbury-based grocer hired 2,300 employees at the stores. According to a study conducted by Towson University’s Regional Economic Studies Institute, the stores will generate $360 million in economic impact. Over the next week, the locations will hold giveaways that will range from reusable shopping bags to gift cards. Each store now includes more items in the “local goodness” section, an expanded craft beer and limited reserve …

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DevelopmentGrocery-anchoredMassachusettsNewsRetailers

Market Basket Opens New 69,374-Square-Foot Location in Maynard, Massachusetts

by Alex Tostado

Maynard, Mass. — Market Basket has opened a 69,374-square-foot grocery store within Maynard Crossing in Maynard. The 730,000-square-foot mixed-use development is home to other retail tenants such as Eco Nails & Spa, Planet Fitness and Maynard Wine & Spirits. Capital Group Properties broke ground on Maynard Crossing in 2019. Other uses include The Vue at Maynard Crossing, a 180-unit multifamily community; Camellia Gardens, a 143-unit seniors housing community; Emerson Hospital Urgent Care; and outdoor spaces such as water features, a dog park, walking paths and green space.

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Grocery-anchoredInvestment salesNewsOhioRetailers

First National Realty Partners Acquires Whole Foods-Anchored Center in Akron, Ohio

by Alex Tostado

Akron, Ohio — First National Realty Partners (FNRP) has acquired West Market Street Station in Akron. The Whole Foods Market-anchored shopping center is located at 1745 W. Market St. It spans 54,232 square feet and opened in September 2017. Other tenants at the fully leased center include lululemon, PetPeople, Orangetheory Fitness, Moe’s Southwest Grill, Great Clips and Salon Lofts. The seller, S.J. Collins Enterprises, sold the asset for an undisclosed price. This is the first Whole Foods within FNRP’s shopping center portfolio. Fain Hicks, Margaret Jones, Lane Breedlove, Evan Halkias …

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Grocery-anchoredInvestment salesMassachusettsNewsRetailers

Regency Centers Sells Retail Building Leased to Whole Foods in Swampscott, Massachusetts, for $19.2 Million

by Alex Tostado

Swampscott, Mass. — Regency Centers, a Florida-based shopping center REIT, has sold a 35,907-square-foot retail building leased to Whole Foods Market in Swampscott, about 30 miles northeast of Boston. The sales price was $19.2 million. Whole Foods has occupied the building, which sits on roughly five acres, for more than 15 years. Chris Angelone, Nat Heald and Eric Suffoletto of JLL represented Regency Centers in the transaction and procured the buyer, locally based investment firm Academy Hill Realty.

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DevelopmentGrocery-anchoredNewsRetailersTexas

H-E-B to Open 122,222-Square-Foot Grocery Store in New Braunfels, Texas

by Alex Tostado

New Braunfels, Texas — Locally based grocer H-E-B will open a new, 122,222-square-foot store at 651 S. Walnut Ave. in the San Antonio suburb of New Braunfels. An existing 99,000-square-foot H-E-B store opened in that market in 1994. The project, construction of which is slated to begin early next year, has a price tag of $17.5 million. The opening is slated for the fourth quarter of 2021.

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FloridaGrocery-anchoredInvestment salesNewsRetailers

JLL Arranges $26.3 Million Sale of Publix-Anchored Shopping Center in Metro Orlando

by Alex Tostado

Kissimmee, Fla. — JLL has arranged the $26.3 million sale of Osceola Village, a 122,845-square-foot, Publix-anchored shopping center in Kissimmee. The center, which was delivered in 2008, was 82 percent leased at the time of sale to tenants including DaVita Kidney Care, Orlando Health and Visionworks. The asset is situated on 20 acres at 3040 Dyer Blvd., 22 miles south of downtown Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, an affiliate of Glenborough LLC, in the transaction. New York City-based East Coast Acquisitions purchased …

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Grocery-anchoredInvestment salesNewsNorth CarolinaRetailers

Cushman & Wakefield Negotiates $13.9 Million Sale of Publix-Anchored Shopping Center Near Charlotte

by Alex Tostado

Sherrills Ford, N.C. — Cushman & Wakefield has negotiated the $13.9 million sale of The Villages Shoppes at Sherrills Ford, a 60,298-square-foot, Publix-anchored shopping center in Sherrills Ford. The developer, Tampa, Fla.-based Wagner Property Group, sold the asset, which is located at the intersection of Slanting Bridge Road and Village Center North, 31 miles north of downtown Charlotte. Other tenants at the center include Hardee’s, Pizza Hut, Great Clips and Blue Sky Nails. Fain Hicks, Margaret Jones and Lane Breedlove of Cushman & Wakefield brokered the transaction. The buyer was …

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DevelopmentGrocery-anchoredNewsNorth CarolinaRetailers

Wegmans to Open Two New Grocery Stores in North Carolina Next Spring Totaling 203,000 Square Feet

by Alex Tostado

Wake Forest and Chapel Hill, N.C. — Wegmans will open two new grocery stores in 2021 in Wake Forest and Chapel Hill. The New York-based grocer plans to add 500 full-time jobs and nearly 900 total jobs at the two stores. The store in Wake Forest will span 104,000 square feet and will house 200 full-time employees. The property, located at 11051 Ligon Mill Road, is expected to open in May. The asset in Chapel Hill is expected to open in late February and will house 300 full-time jobs. The …

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Southeast retail
FinanceGrocery-anchoredIndustry ContentRestaurantsRetailersVideosWebinar

Webinar: Will Southeast Retail Investment Activity Bounce Back in 2021?

by Sarah Daniels

Shopping Center Business and Southeast Real Estate Business hosted “Southeast Retail Investment Outlook — Will Retail Investment Activity Bounce Back in 2021?” A panel of retail experts covered topics like the lending atmosphere, impacts of e-commerce and tenant types likely to expand or contract. Buyer pool shifts, seller considerations in regards to timing and the outlook for grocery-anchored spaces are all reviewed and considered. Plus, how might the presidential and congressional elections alter investment activity in 2021 for the Southeast’s top retail markets? Register and listen to learn from a panel of retail professionals …

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DevelopmentGrocery-anchoredNewsNorth Carolina

Wegmans to Open Two New Grocery Stores in North Carolina Next Spring Totaling 203,000 Square Feet

by Alex Tostado

Wake Forest and Chapel Hill, N.C. — Wegmans will open two new grocery stores in 2021 in Wake Forest and Chapel Hill. The New York-based grocer plans to add 500 full-time jobs and nearly 900 total jobs at the two stores. The store in Wake Forest will span 104,000 square feet and will house 200 full-time employees. The property, located at 11051 Ligon Mill Road, is expected to open in May. The asset in Chapel Hill is expected to open in late February and will house 300 full-time jobs. The …

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