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Grocery-anchored

DevelopmentGrocery-anchoredNew YorkNews

Wegmans to Open 74,000-Square-Foot Store in Brooklyn

by Alex Tostado

New York City — Rochester, New York-based grocer Wegmans will open a 74,000-square-foot store within the Admirals Row redevelopment project located on Flushing Avenue in Brooklyn. The grand opening is scheduled for Sunday, Oct. 27. The store, which will be the company’s first location in New York City, is expected to create about 350 full- and part-time jobs. Wegmans Brooklyn will carry more than 60,000 individual products and offer second-floor mezzanine space with a bar serving food, wine, beer and spirits.

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CaliforniaGrocery-anchoredInvestment salesNews

Arroyo Parkway Acquires Whole Foods Market-Occupied Retail Building in Pasadena, California for $100 Million

by Alex Tostado

Pasadena, Calif. — The Arroyo Parkway LLC, a Pasadena-based investment group, has purchased a retail building and two acres of adjoining land in Pasadena from a private family trust for more than $100 million in an off-market transaction. Whole Foods Market has occupied the 80,000-square-foot retail building since it was built in 2007. The property is located at 465-577 Arroyo Parkway. David Ickovics of Commercial Asset Group represented the seller, while the buyer was self-represented in the transaction.

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GeorgiaGrocery-anchoredInvestment salesNews

Investment Property Group Arranges Sale of Publix Super Market in Savannah, Georgia

by Alex Tostado

Savannah, Ga. — SRS Real Estate Partners’ Investment Property Group (IPG) has arranged the sale of a 43,783-square-foot retail center leased by Publix Super Market in Savannah. Publix has occupied the space since 1993. Publix Super Markets Inc. acquired the property, which is situated on the corner of Johnny Mercer Boulevard and Wilmington Island Road nine miles east of downtown Savannah and 11 miles west of Tybee Island. Kyle Stonis, Pierce Mayson and Giles Stevens of the IPG in the SRS Atlanta office represented the seller in the transaction. The …

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DevelopmentGrocery-anchoredMarylandNews

Whole Foods Market to Anchor $350 Million Mixed-Use Development in Metro Baltimore

by Alex Tostado

Towson, Md. — Developers Greenberg Gibbons and Caves Valley Partners have signed Whole Foods Market to anchor the retail component of Towson Row, a $350 million mixed-use development in downtown Towson, Maryland. Whole Foods will occupy 45,000 square feet and include a 6,200-square-foot mezzanine and outdoor dining terrace. Construction on the store is expected to begin this winter and take 18 months to complete. Amenities will include a two-story parking deck and covered walkways leading to the store. Towson Row is currently under construction on a five-acre site, 10 miles north …

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FloridaGeorgiaGrocery-anchoredInvestment salesNews

Sembler, Forge Acquire Two Publix-Anchored Shopping Centers in Florida, Georgia

by Alex Tostado

Naples, Fla. and Kennesaw, Ga. — The Sembler Co. and Forge Capital Partners have purchased a pair of Publix-anchored shopping centers in Naples, Florida, and Kennesaw, Georgia. The companies purchased the centers for an undisclosed price via their Forge Real Estate Partners IV (FREP) investment fund. Properties include the 59,893-square-foot Naples Lake Village Center and the 68,744-square-foot Kennesaw Walk. Sembler will serve as the property manager and leasing agent for both properties. Including these properties, Sembler and Forge have acquired 14 shopping centers in the Southeast and Texas using their …

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DevelopmentGrocery-anchoredNewsPennsylvania

Aldi to Open 19,230-Square-Foot Grocery Store at King of Prussia Center in Pennsylvania

by Alex Tostado

King of Prussia, Pa. — German discount grocer Aldi will open a 19,230-square-foot store at the 119,000-square-foot King of Prussia Center, located 20 miles northwest of Philadelphia in Montgomery County. Jeffrey Cohen and Nelson Wax of CBRE represented the landlord, D&P Associates, in the lease negotiations. The family-owned business developed the mall beginning in the 1980s.

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DevelopmentFloridaGrocery-anchoredNewsRetailers

Hutton Opens 190,000-Square-Foot Grocery-Anchored Shopping Center in Central Florida

by Alex Tostado

Wesley Chapel, Fla. — Hutton has opened Cypress Creek Town Shopping Center, a 190,000-square-foot shopping center located in Wesley Chapel, Florida, 20 miles north of downtown Tampa. Earth Fare anchors the center, with other tenants including Burlington, Hobby Lobby, Five Below, Dollar Tree and HomeGoods. Remaining tenants are scheduled to open in late spring. Hutton has completed three previous developments at Cypress Creek Town Center, including a 26,000-square-foot, multi-tenant development home to retailers such as Mellow Mushroom and Men’s Warehouse; an adjacent 8,000-square-foot Chuy’s; and a 16,000-square-foot multi-tenant building that …

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FloridaGrocery-anchoredInvestment salesNews

CBRE Negotiates Sale of 158,463-Square-Foot Shopping Center in South Florida

by Alex Tostado

Pembroke Pines, Fla. — CBRE has negotiated the sale of Pembroke Place, a 158,463-square-foot shopping center in Pembroke Pines, Florida. Sedano’s grocery store, Crunch Fitness and Vargas University anchor the property, which is located 24 miles north of downtown Miami. Longpoint Realty Partners acquired the asset for an undisclosed price. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of Sterling Organization, in the transaction.

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Grocery-anchoredInvestment salesMarylandNews

Neuman Commercial Arranges $18.2 Million Sale of Grocery-Anchored Shopping Center in Baltimore

by Alex Tostado

Baltimore — Neuman Commercial Group has arranged the $18.2 million sale of Alameda Marketplace, a 124,000-square-foot shopping center anchored by Shoppers Food in Baltimore. The asset was 90 percent leased at the time of the sale to 15 tenants including Walgreens, Family Dollar, Rent-A-Center, Planet Fitness, Fresenius Medical, Rainbow and Bank of America. Gil Neuman of Neuman Commercial represented the sellers, Atlantic Realty Co. and Walton Street Capital, in the transaction. The buyer was a private regional investment group. This is the second time that Neuman Commercial has represented the …

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GeorgiaGrocery-anchoredInvestment salesNewsNorth Carolina

Branch Properties Acquires Two Grocery-Anchored Shopping Centers for $57 Million

by Alex Tostado

Roswell, Ga. and Leland, N.C. — Branch Properties has acquired two grocery-anchored shopping centers in the Southeast. The first, Roswell Market Place, is a 95,522-square-foot shopping center anchored by Sprouts Farmers Market. Branch Properties bought the asset for $32 million. The center, which is located at 10800 Alpharetta Highway, 24 miles north of downtown Atlanta, was built in 1986 and renovated two years ago. Roswell Market Place was 88 percent leased at the time of the sale. The second property is Waterford Village, a 108,249-square-foot shopping center anchored by Harris …

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