Grocery-anchored

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CaliforniaGrocery-anchoredLeasingNews

Progressive Real Estate Partners Executes Lease for 20,100-Square-Foot Space in Loma Linda, California

by Hayden Spiess

Loma Linda, Calif. — Progressive Real Estate Partners has arranged a lease with Fitness 19 at Loma Linda Plaza, located in Southern California’s Inland Empire. Fitness 19 will take over a 20,100-square-foot space at the development, which is anchored by Stater Bros. Markets. Paul Su of Progressive represented the lessor, and Chris Beauchamp of Lee & Associates represented Fitness 19. Other tenants at the 117,000-square-foot center include Chevron, H & R Block, Carl’s Jr., Papa John’s Pizza and Boba Tea House.

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Grocery-anchoredInvestment salesNewsSouth Carolina

JLL Arranges $25.2 Million Sale of Coastal South Carolina Property

by Hayden Spiess

Bluffton, S.C. — JLL Capital Markets has brokered the sale of a 118,440-square-foot shopping center located in Bluffton, five miles from Hilton Head Island. Jim Hamilton, Brad Buchanan, Tom Kolarczyk and Andrew Kahn of JLL represented the seller, Jaz Development LLC, in the $25.2 million transaction. Anchored by Aldi, PGA TOUR  Superstore  and Hobby Lobby, Bluffton Shopping Center was 99 percent leased at the time of sale. Other tenants include First Watch, Tropical Smoothie Café, Sleep Number, Aspen Dental, The Spirited Hand and Boutique Nails. Serota Properties acquired the property.

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Gateway Marketplace
Grocery-anchoredInvestment salesNewsNorth Carolina

Marcus & Millichap Brokers $29 Million Sale of Publix-Anchored Shopping Center in Jacksonville, North Carolina

by Hayden Spiess

Jacksonville, N.C. — Lori Schneider and David Gant of Marcus & Millichap have arranged the sale of Gateway Marketplace, a 131,780-square-foot shopping center located in Jacksonville. Anchored by Publix Supermarket, HomeGoods, Michaels and Ulta Beauty, the center is comprised of 16 suites and sold for $29 million. Prestige Properties and Development LLC was the buyer, procured by Marcus & Millichap on behalf of the seller.

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CaliforniaGrocery-anchoredInvestment salesNews

SRS Brokers $17.3 Million Sale of Three Retail Outparcels at French Valley Marketplace in California

by Hayden Spiess

French Valley, Calif. — SRS Real Estate Partners has arranged the portfolio sale of three retail properties that are outparcels to French Valley Marketplace, located at 35958 Winchester Road in French Valley. A Southern California-based private developer sold the assets to a Southern California-based private investor for $17.3 million in an all-cash transaction. The three properties are: A 16,000-square-foot Grocery Outlet-occupied property that opened in late 2021. An 11,115-square-foot new construction property, which Rite Aid will occupy in late 2022. A 5,559-square-foot building currently under construction that Chipotle Mexican Grill …

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Har-Mar-Roseville-MN
Grocery-anchoredInvestment salesMinnesotaNews

CBRE Negotiates Sale of 446,308-Square-Foot Retail Center in Suburban Minneapolis

by Hayden Spiess

Roseville, Minn. — CBRE has negotiated the sale of Har Mar Mall in Roseville, a suburb just north of the Twin Cities. Located at 2100 Snelling Ave., the retail power center spans 446,308 square feet and is home to tenants such as Cub Foods, Burlington, Barnes & Noble, Marshalls, HomeGoods, Michaels and K&G Fashion Superstore. CBRE represented the seller, Clarion Partners. Fidelis was the buyer.

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Lake-Ridge-Commons-Woodbridge-Virginia
Grocery-anchoredInvestment salesNewsVirginia

ShopOne, Pantheon Acquire Shopping Center in Metro Washington DC

by Hayden Spiess

Woodbridge, Va. — ShopOne Centers REIT Inc., in a joint venture with Pantheon, has acquired Lake Ridge Commons, a 74,367-square-foot shopping center located in Woodbridge, roughly 20 miles south of Washington, D.C.. Anchored by a 52,706-square-foot Giant Food, the center is also home to tenants including Banfield Pet Hospital and YogaSix.

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Bradford-Square_Publix_Cary
FinanceGrocery-anchoredInvestment salesNewsNorth Carolina

Northmarq Secures $21 Million in Acquisition Financing for Triangle Area Retail Center

by Hayden Spiess

Cary, N.C. — David Garfinkel of Northmarq’s St. Louis office has arranged $21 million in financing for the acquisition of Bradford Square, a 78,628-square-foot retail center located in the Raleigh suburb of Cary. Financing was secured in the form of a permanent-fixed loan from a life insurance company on behalf of National Real Estate Management (NRE). Anchored by Publix, the center was fully leased at the time of its sale to NRE, with tenants including Cary Salon, Night and Day Dental, First Watch, Brixx Wood Fired Pizza, Burger 21 and …

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Stop-&-Shop
Grocery-anchoredInvestment salesMassachusettsNews

JLL Capital Markets Facilitates Sale of 59,519-Square-Foot Single-Tenant Property in Greater Boston

by Hayden Spiess

Norwell, Mass. — JLL Capital Markets has arranged the sale of a Stop & Shop location in Norwell. The 59,519-square-foot single-tenant grocery store is located roughly 25 miles southeast of Boston. A team led by Nat Heald of JLL represented the seller in the transaction. Bailard Real Estate Fund was the buyer.

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North-Oaks-Plaza
Grocery-anchoredInvestment salesMissouriNews

Mid-America Real Estate Corp. Brokers Sale of 268,893-Square-Foot Shopping Center in Metro St. Louis

by Hayden Spiess

Northwoods, Mo. — Mid-America Real Estate Corp.’s Investment Sales Group has arranged the sale of North Oaks Plaza, a 268,893-square-foot shopping center located in Northwoods, roughly 8 miles northwest of St. Louis. Emily Gadomski and Ben Wineman of Mid-America, in association with Tim McFarland of Sansone Group, represented the private seller in the 1031 exchange transaction. The grocery-anchored property was 74 percent leased at the time of sale to tenants including Save A Lot, Citi Trends, St. Louis County Career Center & Workforce Training, Fresenius Medical Care and H&R Block.

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Keystone-Crossing
FinanceFloridaGrocery-anchoredNews

Northmarq Arranges $4.5 Refinancing for Shopping Center in Metro Tampa

by Hayden Spiess

Odessa, Fla. — Tommy Ware of Northmarq has arranged $4.5 million in refinancing for Keystone Crossing Shopping Center, located in Odessa, approximately 25 miles north of Tampa. Built in 2001, the 47,817-square-foot grocery-anchored retail center sits on a six-acre property. This refinancing comes in the form of a permanent-fixed loan, secured through a life company lender.

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