Grocery-anchored

Terrison Quinn Newport Beach Retail Real Estate pull quote rev

If Calvin Short and Terrison Quinn, managing principals at SRS Real Estate Partners, could sum up the Southern California (SoCal) retail investment sales and leasing environment with one word, it would be “undersupplied.” From an investment standpoint, the region lacks depth in available properties for sale, unlike other parts of the country where there have been leverage shifts in favor of the buyer due to oversupply, says Short, who represents buyers and sellers of retail assets nationwide. That’s particularly true in the net-lease space, which is driving some SoCal-based investors …

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Publix-anchored shopping center

Florida and South Carolina — JLL has been selected to provide management services for a 1 million-square-foot retail portfolio across South Carolina and Florida. The portfolio comprises 10 open-air shopping centers which include Sawgrass Square and Plantation Promenade in Fort Lauderdale; Miramar Commons in Miramar; Rolling Oaks in Orlando; Promenade at Poinciana and Solivita Marketplace in Kissimmee; New Tampa Center in Tampa; Lake Worth Plaza in Lake Worth; Garden Shops at Boca in Boca Raton; and Point Hope Commons in Charleston. JLL will manage the portfolio on behalf of 11North Partners …

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Uptown Boca

Boca Raton, Fla. — JLL Capital Markets has arranged the $118.5 million sale of Uptown Boca, a 194,927-square-foot mixed-use development located in Boca Raton. Whole Foods Market anchors the property, which was fully occupied at the time of sale. Additional tenants include Life Time Fitness, REI, HomeSense and Sephora. Along with several retailers and restaurants, Uptown Boca also features 456 luxury apartment units. Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, a joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties and Wheelock Street …

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Bear Creek Plaza

Medford, Ore. — Marcus & Millichap has brokered the $25.3 million sale of Bear Creek Plaza, a 189,670-square-foot shopping center located in Medford, roughly 27 miles north of the California border. Originally built in 1977 on nearly 17 acres, the fully leased property is anchored by Dollar Tree, Bi-Mart and Crunch Fitness. Additional tenants include McDonald’s, Wendy’s, Carl’s Jr., First Interstate Bank, OneMain Financial, Metro PCS, Papa Murphy’s and Sally Beauty Supply. Clayton Brown and Ruthanne Loar of Marcus & Millichap represented the seller, an entity doing business as Bear Creek …

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Plant City, Fla. — International Finance has provided a $13.3 million mortgage for Plant City Crossing, an 85,252-square-foot retail center located in Plant City, roughly 23 miles west of Tampa Bay. The borrower is Fraga Plant LLC, an affiliate of Coral Gables, Florida-based Fraga Properties. Publix anchors the property, which features a mix of additional tenants including Dollar Tree and Burger King.

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Caste Village

Pittsburgh — A joint venture between Washington, D.C.-based Carderock and an unnamed partner has acquired Caste Village, a 221,284-square-foot neighborhood shopping center located in the Whitehall Borough of Pittsburgh. Grocer Giant Eagle anchors the property, which features a mix of additional tenants such as Banfield Pet Hospital, St. Clair Health, Fitness 19 and Princess Lanes Bowling Center. Carderock plans to renovate the shopping center with major upgrades including a revitalized Caste Commons gathering area, façade and systems improvements and re-tenanting spaces including a former Shell gas station and a recently vacated …

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Fairview Centre

Fairview Park, Ohio — Axiom Realty has purchased Fairview Centre, a 147,602-square-foot shopping center located in the western Cleveland suburb of Fairview Park. Originally built in 1952 and renovated in 1994, the property — which is 89 percent leased — is anchored by Giant Eagle. Additional tenants include Dollar Tree and Onyx Health Club, as well as 15 other service-based tenants. Michael Nieder and Brian Page of JLL’s Chicago office represented the seller in the transaction.

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Blue Star Shopping Center

Watchung, N.J. — Levin Management Corp. (LMC) has arranged four new leases totaling more than 62,200 square feet at Blue Star Shopping Center, a 420,000-square-foot community shopping center located in the northern New Jersey community of Watchung. The leases include Burlington, Taco Bell, Nail Spa & Beyond and Marshalls. Marshalls will relocate to a 27,000-square-foot portion of a building formerly occupied by ShopRite, which is also being redeveloped to accommodate Burlington. Additionally, Taco Bell has opened a 2,900-square-foot restaurant, while Nail Spa & Beyond will operate a 5,800-square-foot salon. E.J. Moawad …

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Shops at Stone Creek

Rockwall, Texas — Westwood Financial has acquired the Shops at Stone Creek, an 80,599-square-foot retail center located in Rockwall, approximately 23 miles east of Dallas. A 59,313-square-foot Tom Thumb grocery store anchors the property, which was fully leased at the time of sale. Other tenants include Care Now, Great Clips, Subway and The UPS Store. The property also contains five pad sites that are occupied by Tom Thumb, the Tom Thumb fuel station, Salad and Go, McDonald’s and HTeaO. Barry Brown and Adam Howell of JLL’s Investment Sales and Advisory team …

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Hazel Dell Marketplace

Vancouver, Wash. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a 227,680-square-foot retail center in Vancouver. Situated on 28 acres across 11 buildings, Hazel Dell is anchored by Safeway. Other tenants at the center include Ross, Marshalls, Parkrose Hardware, Sola Salons, Killer Burger and Sally Beauty. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s correspondent …

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