Grocery-anchored

Parkway-Village-St-Augustine-Fla
FloridaGrocery-anchoredInvestment salesNews

JLL Brokers $24.1 Million Sale of Retail Center in St. Augustine, Florida

by Hayden Spiess

St. Augustine, Fla. — JLL Capital Markets has arranged the $24.1 million sale of Parkway Village at St. Johns, a 52,070-square-foot retail center located in St. Augustine. Danny Finkle, Alex Sharrin, Eric Williams, Jorge Portela, Jeff Cicurel and Kim Flores of JLL brokered the sale on behalf of the developer and seller, a joint venture between Stiles Corp. and Cantrell & Morgan. Built in 2022, the property was fully leased at the time of sale. A 52,070-square-foot Publix anchors the center. Other tenants include Supercuts, Orange Theory Fitness and The …

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River-Center-Tucson-AZ
ArizonaGrocery-anchoredInvestment salesNews

First Washington Realty Sells Whole Foods Market-Anchored Retail Center in Southern Arizona for $31.1 Million

by Hayden Spiess

Tucson, Ariz. — First Washington Realty has completed the disposition of River Center, a 107,508-square-foot retail center located in Tucson, to a private investor for $31.1 million. At the time of sale, the property was fully leased to anchor Whole Foods Market and other tenants including Petco, Walgreens, Tenet Healthcare, Childtime Childcare and Orange Theory Fitness. Patrick Dempsey, Geoff Tranchina and Patrick Anthon of JLL Capital Markets represented First Washington in the transaction.

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mount-pocono-plaza-pa
Grocery-anchoredInvestment salesNewsPennsylvania

Agora Commercial Acquires Shopping Center in Eastern Pennsylvania for $17 Million

by Hayden Spiess

Mount Pocono, Pa. — Agora Commercial has acquired Mount Pocono Plaza, a 195,735-square-foot shopping center located in the northeastern Pennsylvania community of Mount Pocono, for $17 million. Weis anchors the property, and other tenants include Ollie’s Bargain Outlet, Harbor Freight, Planet Fitness and Dollar Tree. The center’s occupancy rate at the time of sale was roughly 90 percent. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Heidenberg Properties Group, in the transaction.

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Cross-Timbers-Village-Flower-Mound-Texas
Grocery-anchoredInvestment salesNewsTexas

STRIVE Brokers Sale of 19,333-Square-Foot Shopping Center in Dallas-Fort Worth Metro

by Hayden Spiess

Flower Mound, Texas — STRIVE has brokered the sale of Cross Timbers Village, a 19,333-square-foot shopping center located in Flower Mound in the Dallas-Fort Worth area. Tom Thumb anchors the property, which was 100 percent leased at the time of sale. Other tenants at the center include Great Clips, Palio’s Pizza Café, New View Optometry and Happy Pediatric Dental. Hudson Lambert of STRIVE represented the seller, an undisclosed California investor, in the transaction.

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Grocery-anchoredInvestment salesNew JerseyNews

Marcus & Millichap Arranges Sale of 93,029-Square-Foot Shopping Center in Northern New Jersey

by Hayden Spiess

Vernon Township, N.J. — Marcus & Millichap has brokered the sale of Vernon Valley Plaza, a 93,029-square-foot shopping center in Northern New Jersey’s Sussex County. ACME anchors the property, which was built from 2001 to 2004. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller, an undisclosed developer, and procured the buyer, a private investor, in the transaction. Both parties were New Jersey-based entities. Joseph Belgiovine of Marcus & Millichap Capital Corp. arranged a $13.3 million acquisition loan for the deal that carries a five-year …

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Limestone-Marketplace-Gainesville-Ga
DevelopmentGeorgiaGrocery-anchoredInvestment salesNews

Branch Properties Acquires Land to Construct 76,764-Square-Foot Shopping Center Near Atlanta

by Hayden Spiess

Gainesville, Ga. — Branch Properties has acquired 14 acres for the construction of Limestone Marketplace in Gainesville, roughly 55 miles northeast of Atlanta. Upon completion, the shopping center will comprise 76,764 square feet and feature a 54,964-square-foot Publix. The property will also include three outparcels ranging in size from one to three acres. Branch will break ground on the development in spring of this year, with completion of construction scheduled for the second quarter of 2024.

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First-Street-Station_Albemarle
Grocery-anchoredInvestment salesNewsNorth Carolina

SRS Brokers $2.2 Million Sale of Grocery-Anchored Shopping Center in North Carolina

by Hayden Spiess

Albemarle, N.C. — SRS Real Estate Partners’ National Net Lease Group has brokered the $2.2 million sale of First Street Station, a 52,230-square-foot, grocery-anchored shopping center located in Albemarle, about 40 miles east of Charlotte. Ed Laycox of SRS represented the seller, a North Carolina-based private investor, in the all-cash transaction. The buyer was a Charlotte-based private investor operating in a 1031 exchange. Built in 1989 on a six-acre site, First Street Station was 91 percent leased at the time of sale to tenants including Harris Teeter, Roma Pizza and …

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Livingston-Market-Place-Lutz-Fla
FloridaGrocery-anchoredInvestment salesNews

Fairway Purchases 64,441-Square-Foot Shopping Center in Tampa Suburb

by Hayden Spiess

Lutz, Fla. — Fairway Investments has acquired Livingston Market Place, a 64,441-square-foot shopping center located in the northern Tampa suburb of Lutz. Situated on 32.8 acres, the property is anchored by Publix. Other tenants at the center, which was completed in 2022 and fully leased at the time of sale, include Heartland Dental, Papa Johns, Prime Barber and 40 Thieves Irish Pub. Bryan Belk and John Tennant of Franklin Street arranged the sale on behalf of the seller/developer, a partnership between Dunphy Development and Batson-Cook Development.

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Center-Pointe-Menifee-CA
CaliforniaGrocery-anchoredInvestment salesNews

Tourmaline Capital Sells Center Pointe Retail Center in Southern California for $24.6 Million

by Hayden Spiess

Menifee, Calif. — Tourmaline Capital has completed the disposition of Center Pointe, a newly developed shopping center located in Menifee. A private 1031 exchange buyer acquired the center for $24.6 million. Sprouts Farmers Market, Wendy’s, Olive Garden, Tacos & Tequila and Paris Nails are tenants at the 41,461-square-foot property. At the time of sale, the retail center was 96 percent leased. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the deal.

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Sprouts-Mesa-Ariz
ArizonaGrocery-anchoredInvestment salesNews

Marcus & Millichap Brokers $18.5 Million Sale of Shopping Center in Mesa, Arizona

by Hayden Spiess

Mesa, Ariz. — Marcus & Millichap has brokered the $18.5 million sale of Sprouts Center, a 55,615-square-foot shopping center located in Mesa. Sprouts Farmers Market anchors the property. Marc Irvin of Marcus & Millichap represented the seller, an Arizona-based private investor. A California-based family trust acquired the center in a 1031 exchange. Ryan Sarbinoff of Marcus & Millichap acted as broker of record and assisted in closing the transaction.

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