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CaliforniaDevelopmentGrocery-anchoredNews

Nadel Architects Completes Two Retail Centers in Metro Sacramento

by Abby Cox

Roseville and Elk Grove, Calif. — Two new retail centers designed by Los Angeles-based Nadel Architects have opened in the metro Sacramento area. The properties are West Roseville Marketplace in Roseville and Laguna Reserve Marketplace in Elk Grove. West Roseville Marketplace totals 74,000 square feet and is anchored by a 55,592-square-foot Safeway. Additional tenants at the center include McDonald’s, Starbucks Coffee, Bank of America and Mountain Mike’s Pizza. Laguna Reserve Marketplace, which comprises 57,000 square feet, is also anchored by a Safeway.

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Torrey Hills Center
CaliforniaFinanceGrocery-anchoredNews

JLL Arranges $27.6 Million Refinancing for Torrey Hills Center in San Diego

by Abby Cox

San Diego, Calif. — JLL Capital Markets has arranged a $27.6 million loan to refinance Torrey Hills Center, an 86,467-square-foot retail center located in the Carmel Valley neighborhood of San Diego. Vons Market anchors the center. Originally built in 2005, the property is 98.4 percent leased to a mix of 26 tenants including Orangetheory Fitness, Starbucks Coffee, Wells Fargo and JETSET Pilates. Greg Brown, John Marshall, Spencer Seibring and Allie Black of JLL’s Debt Advisory team represented the borrower, a national real estate investment and management firm, in arranging the …

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201-233 International Drive
Grocery-anchoredInvestment salesNewsSouth Carolina

NAI Charleston Arranges Sale of 57,659-Square-Foot Shopping Center in Myrtle Beach, South Carolina

by Abby Cox

Myrtle Beach, S.C. — NAI Charleston has arranged the sale of a 57,659-square-foot shopping center located at 201-233 International Drive in Myrtle Beach. Built in 2014, the center sits on 6.4 acres, according to LoopNet. Lowes Foods anchors the center, which is leased to a mix of local and national tenants. Thomas Boulware and Michael Branch of NAI Charleston represented the buyer in the transaction. Drew Parks of Coldwell Banker Commercial represented the seller.

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Northpoint Center
Grocery-anchoredIllinoisInvestment salesNewsRhode Island

Joint Venture Acquires Two Shopping Centers Totaling 428,928 Square Feet in Rhode Island and Illinois

by Abby Cox

Warwick, R.I. and Arlington Heights, Ill. — A joint venture between Dallas-based Encore Enterprises Inc. and AmCap Management Holdings LLC, a subsidiary of Stamford, Connecticut-based AmCap Management LLC, has acquired two grocery-anchored shopping centers in Rhode Island and Illinois totaling 428,928 square feet. The properties are Cowesett Corners in the Providence suburb of Warwick and Northpoint Center in the Chicago suburb of Arlington Heights. Cowesett Corners is anchored by Stop & Shop and totals 152,595 square feet. Additional tenants at the center include PetCo, Five Below and Oak Street Health. The …

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Market Lofts
CaliforniaGrocery-anchoredInvestment salesNews

Hanley, SRS Arrange $20.9 Million Sale of Retail Anchor at Mixed-Use Development in Los Angeles

by Abby Cox

Los Angeles — A partnership between Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners has arranged the $20.9 million sale of the retail component at Market Lofts in downtown Los Angeles. The retail portion of the project is anchored by a 49,489-square-foot Ralphs grocery store located on the ground floor. Completed in 2007, Market Lofts features 267 condominiums with 54,948 square feet of total ground-floor retail space. Along with Ralphs, the retail portion of the property is leased to six additional tenants including The UPS Store, Supercuts, …

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Westgate North
Grocery-anchoredInvestment salesNewsWashington

JLL Arranges $37 Million Sale of Shopping Center in Tacoma, Washington

by Abby Cox

Tacoma, Wash. — JLL Capital Markets has arranged the $37 million sale of Westgate North, 74,789-square-foot shopping center located in Tacoma, roughly two miles from the University of Puget Sound campus. Safeway anchors the property, which was 97.9 percent leased at the time of sale. Additional tenants at the center include Anytime Fitness, Chase Bank, Taco Bell, Xfinity, Subway and Round Table Pizza. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL’s Investment Sales and Advisory team represented the seller. The buyer was Phillips Edison & Co.

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North Euclid Shopping Center
CaliforniaGrocery-anchoredInvestment salesNews

Hanley Investment Group Facilitates $12.6 Million Sale of Shopping Center in Fullerton, California

by Abby Cox

Fullerton, Calif. — Hanley Investment Group Real Estate Advisors has facilitated the $12.6 million sale of North Euclid Shopping Center, a 41,219-square-foot shopping center located in the Orange County city of Fullerton. A 21,480-square-foot Stater Bros. Markets formerly anchored the property. The remaining space is fully leased to a barber shop, hair salon, family dentist, chiropractic office, H&R Block and multiple quick-service restaurants. Kevin Fryman, Eric Wohl and Ed Hanley of Hanley Investment represented the seller, Anaheim, California-based Kraemer Land Co., and the buyer, an off-market local private investor, in the …

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Architecture and DesignDevelopmentGrocery-anchoredNewsTexas

Whitestone Begins Redevelopment of Lion Square in Houston’s Asiatown District

by Abby Cox

Houston — Whitestone REIT is underway with the redevelopment of Lion Square, a 117,592-square-foot shopping center located in Southwest Houston’s Asiatown District at the intersection of Bellaire Boulevard and Wilcrest Drive. Michael Hsu Office of Architecture is upgrading the property’s design with traditional Chinese and Vietnamese architectural influences, with plans to transform the center into a cultural hub that will serve the city’s expansive Asian community. The property will include greenery, sustainable irrigation systems, security and lighting enhancements and a focus on improving the center’s walkability. Asian grocer Sun Wing Supermarket …

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Long Branch
Architecture and DesignDevelopmentGrocery-anchoredMixed-useNewsTexas

McKinney City Council Approves $1.3 Billion Mixed-Use Development in Texas

by Abby Cox

McKinney, Texas — McKinney City Council has granted final approval for Long Branch, a $1.3 billion mixed-use development located at the northwest corner of U.S. Highway 75 and the future U.S. 380 bypass in McKinney, roughly 30 miles north of Dallas. Creation, in partnership with Horizon Capital Holdings and Vaulter, is the developer. Spanning 155 acres, the project is expected to include approximately 1,600 multifamily homes, 135,000 square feet of retail anchored by a 65,000-square-foot grocer, a 318,600-square-foot office campus with two six-story buildings, a 100-room hotel and a 910-space structured …

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Suburbia Shopping Center
Grocery-anchoredInvestment salesNewsPennsylvania

JLL Arranges Sale of 154,219-Square-Foot Center in Pottstown, Pennsylvania

by Abby Cox

Pottstown, Pa. — JLL Capital Markets has arranged the sale of Suburbia Shopping Center, a 154,219-square-foot retail property located in Pottstown, approximately 20 miles east of Reading. Originally built in 2003, the property spans 25.6 acres. GIANT grocery store anchors the center, which was 85 percent leased at the time of sale. Additional tenants at the center include Dollar Tree, Starbucks Coffee, UPS Store and Tower Health. Jim Galbally and Patrick Higgins of JLL Capital Markets Investment Sales and Advisory team represented the seller, Gambone Management Co., in the transaction. Powell …

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