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Grocery-anchored

Crenshaw Plaza
CaliforniaFinanceGrocery-anchoredNews

JLL Arranges $32 Million Loan for Retail Center in Los Angeles

by Abby Cox

Los Angeles — JLL Capital Markets has arranged $32 million in financing for Crenshaw Plaza, a 146,901-square-foot grocery-anchored shopping center located in Los Angeles. The borrower is a joint venture between the principals of 21 Alpha Group and Intelligent Design Real Estate. Originally built in 1967 and renovated in 2004, Crenshaw Plaza was 97 percent leased at the time of sale. Vallarta Supermarkets anchors the center on a new 15-year lease. Additional tenants at the property include Planet Fitness, Foot Locker and AutoZone. Spencer Bergthold, Charles Halladay and Daniel Skerrett …

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Sterling Grove Shopping Center
ArizonaFinanceGrocery-anchoredNews

JLL Arranges $16.5M Financing for Shopping Center in Surprise, Arizona

by Abby Cox

Surprise, Ariz. — JLL has arranged $16.5 million in senior financing for Sterling Grove Shopping Center, a 106,000-square-foot grocer-anchored retail property located in Surprise, roughly 30 miles northwest of Phoenix. Developed in 2023, the center is situated on 19 acres and features a 63,290-square-foot Safeway as the anchor tenant, as well as 22,500 square feet of connected retail space spanning five buildings. Additional tenants at the property — which was fully leased at the time of sale — include a Safeway Fuel station, McDonald’s, Starbucks Coffee and Taco Bell.   …

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The Fresh Market
Grocery-anchoredInvestment salesNew YorkNews

IPA Brokers $26.9 Million Sale of Shopping Center in Latham, New York

by Abby Cox

Latham, N.Y. — Institutional Property Advisors (IPA) has brokered the sale of a grocery-anchored shopping center for $26.9 million in Latham, roughly eight miles outside Albany. Built in 2010, the center totals 120,049 square feet and is anchored by The Fresh Market. Approximately 24,000 square feet is available for lease. Other tenants at the property include Petco and Crumbl Cookies. Jim Koury of IPA represented the seller, Shaker Louden Associates, and procured the buyer, PCP Binghamton Associates LLC, in the transaction.

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Beechnut Village
FinanceGrocery-anchoredInvestment salesNewsTexas

Marcus & Millichap Arranges Sale, Financing of 62,990-Square-Foot Retail Center in Houston

by Abby Cox

Houston — Marcus & Millichap has arranged the sale and financing of Beechnut Village, a 62,990-square-foot retail center located in Houston. The property — which was fully leased at the time of sale — features 15 tenants operating on a triple-net lease basis, including medical offices, discount retailers and food and beverage businesses. La Michoacana Meat Market anchors the center. Scott Abeel and Philip Levy of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller and procured the buyer, a local private investor, in the transaction. Jamie …

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Eastway Square
Grocery-anchoredInvestment salesNewsNorth Carolina

Westwood Financial Acquires 130,156-Square-Foot Shopping Center in Charlotte

by Abby Cox

Charlotte, N.C. — Los Angeles-based Westwood Financial has acquired Eastway Square, a 130,156-square-foot grocery-anchored shopping center in Charlotte. Tenants at the property include Ross Dress For Less, America’s Best, Papa Johns Pizza, Subway, Wingstop, Rainbow Shops, DentalWorks, Hibbett Sports, Showmars and Food Lion, which anchors the center. Berkley Capital Advisors brokered the sale. The price was not disclosed. Eastway Square joins Westwood Financial’s portfolio of grocery-anchored shopping centers in Charlotte including Prosperity Village Square, Steele Creek Crossing, Steelecroft Shopping Center and The Arbors at Mallard Creek.

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Country Club Centre
AlabamaGrocery-anchoredInvestment salesNews

First National Realty Acquires 67,622-Square-Foot Retail Center in Montgomery, Alabama

by Abby Cox

Montgomery, Ala. — Red Bank, New Jersey-based First National Realty Partners has acquired Country Club Centre, a 67,622-square-foot retail center located in Montgomery. The center — which was 85 percent leased at the time of sale — is anchored by Winn-Dixie, which totals 35,922 square feet. Additional tenants at the property include Dollar Tree, Martin’s Restaurant, Subway and Wingstop. Gary Chou of Berkley Capital Advisors represented the undisclosed seller in the transaction.

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FloridaGrocery-anchoredInvestment salesNews

IPA Brokers $24 Million Sale of Shopping Center in Tallahassee

by Abby Cox

Tallahassee, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $24 million sale of Westend Square, a 152,335-square-foot shopping center in Tallahassee. Renovated in 2022, Aldi shadow-anchors the center. Tenants at the property — which was 98 percent leased at the time of sale — include Five Below, Planet Fitness, Pet Supermarket, Aaron’s Rent To Own, Little Caesars Pizza, the U.S. Post Office and Citi Trends. Douglas Mandel of IPA represented the seller, Steven Leoni, and procured the buyer, New York-based Milbrook Properties, in …

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Hicone Shopping Center
Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Realty Brokers Sale of 88,961-Square-Foot Shopping Center in Greensboro, North Carolina

by Abby Cox

Greensboro, N.C. — Legacy Realty Group Advisors has brokered the sale of Hicone Shopping Center, an 88,961-square-foot grocery-anchored retail center in Greensboro. The property — which is anchored by Food Lion — is situated on more than 15 acres, according to the Triad Business Journal. Additional retailers at the property include CVS Pharmacy, a Goodwill store, Koronda’s Sports Bar & Grill, H&R Block, the State Employees’ Credit Union, Hicone Car Wash and four restaurants. Jacob Baruch and Daniel Baruch of Legacy Realty Group Advisors, represented the seller. Will Whitley of …

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BJ's Wholesale Club
Grocery-anchoredInvestment salesMaineNews

Marcus & Millichap Arranges $12.5 Million Sale of Retail Property in Central Maine

by Abby Cox

Bangor, Maine — Marcus & Millichap has arranged the $12.5 million sale of a BJ’s Wholesale Club located in the central Maine community of Bangor. The building is situated on 13 acres and totals 91,828 square feet. Recent upgrades to the property include a complete interior and exterior renovation, and the addition of a new roof and a gas and propane filling station. The property is double-net-leased with scheduled rent increases every five years. Adam Cohen and Brett Kilar of Marcus & Millichap represented the undisclosed seller and procured the …

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Market 32 Grocer
Grocery-anchoredInvestment salesNew YorkNews

IPA Arranges Sale of Former ShopRite Retail Property in Albany, New York, for $23.8 Million

by Abby Cox

Albany, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a former ShopRite Supermarket located on the west bank of the Hudson River, for $23.8 million. The Golub Corp. — which operates supermarkets under the Price Chopper, Market 32 and Market Bistro banners — has assumed the lease for the property and secured a 15-year extension. This transaction marks the fifth ShopRite store that Golub has acquired in the Capital Region of New York. The newly renovated Market 32 Grocer opened in …

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