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Grocery-anchored

ArizonaGrocery-anchoredInvestment salesNewsRetailers

Boardman Enterprises Sells Chandler Heights Marketplace in Arizona for $30.8 Million

by Alex Tostado

Chandler, Ariz. — Boardman Enterprises has completed the disposition of Chandler Heights Marketplace, a grocery-anchored neighborhood shopping center in Chandler. Sita Enterprises acquired the 124,822-square-foot asset for $30.8 million. Situated on 18 acres at 4940 S. Gilbert Road, the property was more than 69 percent occupied at the time of sale. Current tenants include Bashas’, Ace Hardware, Leslie’s Pool Supplies, Starbucks Coffee, Orangetheory Fitness, Pizza Hut, H&R Block and Edward Jones. Shane Jimenez of Lee & Associates of Idaho, along with Jan Fincham and Andrew Lundahl of Lee & Associates …

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Grocery-anchoredIndustry ContentLearn from Industry LeadersRetail InsightVideos

Pinnacle: Community, Cross-Shopping are Keys to Success in Non-Core Markets

by SCB Staff

There are two big threats to retail that nearly every landlord is trying to avoid: sales lost to online shopping and shoppers lost due to a recession. It may be impossible to completely fend off an attack from either, but Jon Wheeler, CEO of Pinnacle Real Estate Investment Group, has a strategy for minimizing both. Wheeler is a big believer in grocery-anchored shopping centers in secondary and tertiary markets. He prefers stabilized (as opposed to value-add) assets with quality grocers and a variety of necessity- and service-based retailers, such as …

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FloridaGrocery-anchoredInvestment salesNewsRetailers

Forge Capital Sells Two Publix-Anchored Properties in Florida

by Alex Tostado

St. Petersburg and West Palm Beach, Fla. — Forge Capital Partners has sold Disston Plaza, a 129,150-square-foot shopping center in St. Petersburg, and Polo Grounds Mall, a 130,015-square-foot shopping center in West Palm Beach. New Market Properties LLC, a subsidiary of Preferred Apartment Communities, acquired both properties, which are both anchored by Publix. Disston Plaza was built in 1954 and was renovated in 2018. The property was 97 percent leased at the time of the sale to tenants including Publix, Bealls Outlet, Dollar Tree, Suncoast Resale Shoppe, Anytime Fitness, Subway, …

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Company newsFeaturesGrocery-anchoredIllinoisNewsRetailers

Two New Tri-Land Investment Funds Hungry to Acquire Grocery-Anchored Retail Assets in Midwest, Southeast

by Alex Tostado

In today’s volatile retail real estate climate, there is ample need for redevelopment or value-add acquisitions. Tri-Land, a Chicago-based owner and operator, is one such company known for repositioning underperforming retail centers. Established in 1978, the company is launching two new investment funds beginning in July. The two funds — which combined total $30 million — seek to purchase between four and eight properties over a 30-month period. The strategy of the investment funds will be to acquire properties located in Midwest and Southeast markets, including Chicago, Milwaukee, Minneapolis, Kansas …

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DevelopmentGeorgiaGrocery-anchoredNews

Adams & Co. to Break Ground on Publix at Mixed-Use Development in Metro Atlanta

by Alex Tostado

South Fulton, Ga. — Adams & Co. Real Estate Inc. will break ground on a 48,387-square-foot Publix this fall within its Sandtown Crossing mixed-use project in the city of South Fulton. The new Publix will be flanked by two 8,200-square-foot buildings and is scheduled to open in fall 2020. The grocer will join a CVS/pharmacy, 15,000 square feet of retail space and 18,000 square feet of office space. Sandtown Crossing is situated on the corner of Camp Creek Parkway and Campbellton Road, 15 miles west of downtown Atlanta.

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Grocery-anchoredIndustry ContentLearn from Industry LeadersRetail InsightVideos

Phillips Edison: Grocery-Anchored Centers Continue to Remain Competitive

by SCB Staff

It used to be enough for a shopping center to house the lead grocer in a trade area, or at least the closest grocer for the majority of residents. Not so anymore, thanks to the internet and increased competition from additional shopping centers and grocer entries. That’s why Bob Myers, COO of Phillips Edison & Company, believes landlords and tenants need to do more to differentiate. That starts with emphasizing their value add. Amenities like Kroger Fuel, resources like dedicated parking and apps that provide buy online, pick up in …

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Grocery-anchoredInvestment salesNewsRetailersSouth Carolina

EA Riverside Sells New Grocery-Anchored Shopping Center in Upstate South Carolina for $12 Million

by Alex Tostado

Greer, S.C. — Marcus & Millichap has arranged the $12 million sale of Riverside Crossing, a 58,358-square-foot, Lowes Foods-anchored shopping center in Greer. Other tenants include Smoothie King, Great Clips, Family Dentistry at Riverside Crossing, CT Nails and Madi Boutique. EA Riverside LLC built the center in 2017 and sold it to JohnCo LP, a private family office. Zach Taylor, Brian Munn and Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller in the transaction.

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DevelopmentGrocery-anchoredNewsVirginia

Lidl to Open 25 East Coast Grocery Stores by Spring 2020

by Alex Tostado

Arlington, Va. — Lidl US plans to open 25 grocery stores on the East Coast by spring 2020. The 25 stores will be located in Virginia, South Carolina, North Carolina, Maryland, New Jersey, Pennsylvania and New York, including the first four in Long Island. Openings for the individual stores were not released. In conjunction with the openings, Lidl US also plans to close two stores in Rockingham and Kinston, North Carolina, this summer. Lidl operates 10,500 grocery stores in 29 countries. Lidl established its U.S. headquarters in Arlington in June 2015.

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Grocery-anchoredInvestment salesNewsPennsylvania

Agree Realty Acquires Wawa’s Flagship Store in Philadelphia for $15 Million

by Alex Tostado

Philadelphia — Michigan-based REIT Agree Realty Corp., has acquired the 11,500-square-foot flagship store of Wawa, a chain of gas stations and convenience stores serving the East Coast, for approximately $15 million. The store is situated within the 13-story Public Ledger Building, located adjacent to Independence Hall in the Center City area of Philadelphia. The store is the largest of the Wawa’s chain and includes a bakery, merchandise and an expanded selection of the company’s reserve coffee products. The seller was not disclosed.

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DevelopmentGrocery-anchoredNewsSouth Carolina

Halvorsen Holdings to Develop Publix-Anchored Shopping Center Near Savannah, Georgia

by Alex Tostado

Bluffton, S.C. — Boca Raton, Florida-based Halvorsen Holdings is planning to develop May River Crossing, a 70,200-square-foot, Publix-anchored shopping center in Bluffton, 16 miles north of downtown Savannah and 16 miles west of Hilton Head Island. May River Crossing will be situated on 15 acres on the northeast corner of Okatie Highway and May River Road. Publix will occupy 48,000 square feet and will feature a drive-thru pharmacy. The center will feature 21,845 square feet of inline retail space. May River Crossing’s committed tenants include a nail salon, national hair …

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