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ArizonaGrocery-anchoredInvestment salesNewsRetailers

Global Retail Investors Buys 138,476-Square-Foot Shops at Gainey Village in Scottsdale

by Alex Tostado

Scottsdale, Ariz. — An entity formed by Global Retail Investors has acquired The Shops at Gainey Village, an urban village retail asset located in Scottsdale. Located at the southeast corner of Scottsdale and Doubletree Ranch roads, The Shops at Gainey Village features 138,476 square feet of retail space. Sprouts Farmers Market anchors the asset, which is fully occupied. Gainey Village Retail Center, an entity formed by Des Moines, Iowa-based Principal Real Estate Investors, sold the property for an undisclosed price. Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office …

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DevelopmentGrocery-anchoredNew YorkNewsRetailers

Lidl Opens 36,000-Square-Foot Grocery Store on Long Island

by Alex Tostado

West Babylon, N.Y. — German grocer Lidl has opened a 36,000-square-foot store at Hubbards Commons, a 65,970-square-foot shopping center in West Babylon on the western part of Long Island. Lidl will offer produce, meat, freshly baked goods and an array of household products. Hubbards Commons is located along Sunrise Highway, which connects Long Island to New York City. The property is now 98 percent leased to tenants including Walgreens, Orangetheory Fitness and Subway. ShopOne is the landlord of Hubbards Commons.

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Grocery-anchoredLeasingMixed-useNewsRetailersWashington DC

Whole Foods Signs 40,000-Square-Foot Retail Lease for The Parks at Walter Reed in D.C.

by Alex Tostado

Washington, D.C. — Whole Foods Market has signed a 40,000-square-foot lease to anchor the Hartley apartment building within The Parks at Walter Reed in northwest Washington, D.C. The Parks is a 3.1 million-square-foot mixed-use development from the partnership of Hines, Urban Atlantic and Triden Development. The Hartley will be the third new construction at the site, alongside two projects underway: The Brooks condominiums and the Vale apartments, which features 18,000 square feet of retail. The Hartley features 323 rental units and 58,000 square feet of retail space. The apartment building will be …

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DevelopmentGrocery-anchoredNewsRetailersVirginia

Wegmans to Develop $175 Million Distribution Campus in Hanover County, Virginia

by Alex Tostado

Ashland, Va. — Rochester, New York-based Wegmans Food Markets Inc. will invest $175 million to establish a new regional distribution operation in Hanover County, 13 miles northeast of Richmond. Located along Sliding Hill and Ashcake roads in Ashland, the new campus will allow the grocer to expand its distribution network on the East Coast and grow its retail footprint, while creating 700 new jobs. Wegmans currently has over 100 stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, Massachusetts and North Carolina. No construction timeline was given for the new Virginia …

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GeorgiaGrocery-anchoredInvestment salesNewsRetailers

CW Capital Sells Publix-Anchored Shopping Center in Metro Atlanta for $14.8 Million

by Alex Tostado

Lawrenceville, Ga. — CW Capital has sold Village Shoppes of Sugarloaf, a 149,805-square-foot retail center in Lawrenceville. Publix anchors the property, which is located at 3330-3410 Sugarloaf Parkway, 30 miles northeast of downtown Atlanta. Village Shoppes was 63 percent leased at the time of sale. Scott Israel, Adam Sklaver and Phil Kates of CBRE represented the seller in the transaction. Branch Properties acquired the asset at a 5.5 percent cap rate.

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Grocery-anchoredInvestment salesNewsRetailersWisconsin

Boulder Group Arranges $2.3 Million Sale of Net Leased Piggly Wiggly Store in Wisconsin

by Alex Tostado

New Holstein, Wis. — The Boulder Group has arranged the $2.3 million sale of a single-tenant property net leased to grocer Piggly Wiggly in New Holstein, about 40 miles south of Green Bay. The 29,651-square-foot building is located at 2243 Calumet Drive. There are more than eight years remaining on Piggly Wiggly’s lease. Randy Blankstein and John Feeney of Boulder represented the seller, a Wisconsin-based partnership. A Midwest-based individual purchased the asset while completing a 1031 tax-deferred exchange.

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Faris Lee and MTN Retail Advisors logos
CaliforniaCompany newsContent PartnersFaris Lee InvestmentsGrocery-anchoredNewsRetailersUtah

Faris Lee, MTN Retail Advisors Enter into Partnership

by Alex Tostado

Irvine, Calif. and Salt Lake City — Faris Lee Investments and MTN Retail Advisors, a grocer-specialized data collection and analytics provider, have entered into a partnership to combine Faris Lee’s retail, real estate, finance and investment advisory services with MTN’s proprietary technology, which includes artificial intelligence (AI) machine learning. MTN currently has data on 28,000 active grocers across the United States and expects that number to grow to 40,000 over the next 18 months. The partnership between Irvine-based Faris Lee Investments and Salt Lake City-based MTN Retail Advisors will also …

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Company newsGrocery-anchoredInvestment salesMarylandNewsRetailersVirginia

UNFI to Sell 13 Shoppers Food & Pharmacy Locations in Maryland, Virginia

by Alex Tostado

Maryland and Virginia — United Natural Foods Inc. (UNFI) will sell 13 of its 43 Shoppers Food & Pharmacy locations in a continued effort to reduce its retail footprint. The company will sell the stores to three grocery operators, which will run the stores under their respective banners. UNFI will also close four Shoppers Food locations by the end of January 2020. UNFI agreed to not renew three of the leases while the fourth lease will be canceled pursuant to agreement with the landlord. The four stores being closed are …

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DevelopmentGrocery-anchoredNewsRetailersSouth Carolina

Publix Opens GreenWise Market in Lexington, South Carolina

by Alex Tostado

Lexington, S.C. — Publix Super Markets Inc. has opened a GreenWise Market store within Lexington Marketplace in Lexington. The new 20,400-square-foot grocery store is located at 5336 Sunset Blvd., 10 miles west of downtown Columbia. TSCG announced in April that Publix’s organic brand would be moving into the shopping center. This is second location for GreenWise in South Carolina. The 156,000-square-foot Lexington Marketplace is 94 percent leased to tenants including Hobby Lobby, Ulta Beauty, Brain Balance Achievement Centers, Fit Body Boot Camp, Smoothie King, MOD Pizza, Aiden Lane Boutique and Code Ninjas. …

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DevelopmentGrocery-anchoredInvestment salesNewsNorth Carolina

Morgan Cos. Purchases Former Sears Store in Triad’s Holly Hill Mall, Plans Publix-Anchored Shopping Center

by Alex Tostado

Burlington, N.C. — The Morgan Cos. has purchased a former Sears department store at 309 Huffman Mill Road within Holly Hill Mall. Morgan Cos. intends to develop the 9.6-acre site into a shopping center anchored by a 48,387-square-foot Publix grocery store and 13,400 square feet of inline retail space. Prego’s Trattoria restaurant, located on an outparcel, is also part of the purchased property. Morgan Cos. will also develop the former Sears Auto Center outparcel next to Prego’s into a multi-tenant retail building as part of the project. Morgan Cos. plans …

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