Grocery-anchored

Grocery-anchoredInvestment salesNew JerseyNewsRetailers

Cushman & Wakefield Brokers $22.6 Million Sale of Grocery-Anchored Shopping Center in Denville, New Jersey

by Alex Tostado

Denville, N.J. — Cushman & Wakefield has brokered the $22.6 million sale of Denville Commons, a 73,000-square-foot, grocery-anchored shopping center in Denville, a northwestern suburb of New York City. Located at 3130 Route 10, the property is anchored by Corrado’s Market and was 90 percent leased at the time of the sale to 16 tenants including Goldfish Swim School and Orangetheory Fitness. Andrew Merin, David Bernhaut and Gary Gabriel led a Cushman & Wakefield team that represented the seller, Denville Commons Associates LP. The team also procured the buyer, Longpoint …

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From The MagazineGrocery-anchoredNorth CarolinaRetailersSouth Carolina

National, Regional Grocers Expand Across The Carolinas To Satisfy Demand

by Alex Tostado

Grocery stores are the bellwether for retail health in the top markets of North Carolina and South Carolina. They are a reflection of job and population growth and are often a catalyst for future retail opportunities, anchoring both new shopping centers and mixed-use projects throughout the two-state region. The Carolinas are battle tested when it comes to the grocery segment, with several local and regional players headquartered in the area and actively leasing space. It came as a blow, then, when homegrown specialty grocer Earth Fare decided to close its …

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CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Kase Group Directs $27.9M Sale of Albertsons-Occupied Retail Asset in California

by Alex Tostado

Paso Robles, Calif. — The Kase Group has arranged the sale of a single-tenant retail property located at 189 Niblick Road in Paso Robles. A California-based investor acquired the property from an undisclosed seller for $27.9 million. Albertsons occupies the 52,691-square-foot building on a long-term, triple-net lease basis. Robert Walker of The Kase Group represented the seller in the off-market transaction.

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Grocery-anchoredInvestment salesNewsRetailersTexas

New Market Properties Acquires 85,599-Square-Foot Midway Market Retail Center in North Dallas

by Alex Tostado

Dallas — New Market Properties LLC, a subsidiary of Atlanta-based Preferred Apartment Communities (PAC) has acquired Midway Market, an 85,599-square-foot shopping center in Dallas. Kroger anchors the center, which is located at the corner of Frankford and Midway roads on the city’s north side. The seller was not disclosed. Approximately 145,000 people with an average household income in excess of $98,000 live within a three-mile radius of the center.

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Grocery-anchoredInvestment salesNebraskaNewsRetailers

Hanley Investment Group Arranges Sale of 174,000-Square-Foot Shopping Center in Lincoln, Nebraska

by Alex Tostado

Lincoln, Neb. — Hanley Investment Group Real Estate Advisors has arranged the sale of Edgewood Shopping Center in Lincoln for an undisclosed price. Built in 1991, the 174,000-square-foot shopping center sits on 22 acres. At the time of sale, the center was 95 percent occupied to tenants such as Super Saver Foods, CVS, Dollar Tree, AutoZone, Herbalife, Party America, Petco, Cartridge World, H&R Block and Papa John’s. Hanley Investment Group represented the seller, Perkins Properties. Scott Taubin of The R.H. Johnson Co. represented the buyer, a Kansas City-based private investor.

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Grocery-anchoredInvestment salesNewsRetailersVirginia

Armada Hoffler Agrees to Sell Seven Southeastern Retail Properties for $106.5 Million

by Alex Tostado

Virginia Beach, Va. — Armada Hoffler has agreed to sell seven grocery-anchored retail properties in North Carolina, Virginia and Maryland for a combined $106.5 million. The assets comprise 630,780 square feet. The three Virginia centers include Bermuda Crossroads, a 122,566-square-foot, Food Lion-anchored property in Chester; Gainsborough Square, an 88,862-square-foot, Food Lion-anchored property in Chesapeake; and Indian Lakes Crossing, a 64,973-square-foot, Harris Teeter-anchored property in Virginia Beach. In North Carolina, the company will sell three Harris Teeter-anchored centers, including Alexander Pointe, a 64,724-square-foot property in Salisbury; Harper Hill Commons, a 64,973-square-foot …

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DevelopmentGrocery-anchoredNewsRetailersTexas

Brookshire Grocery Co. to Open 55,000-Square-Foot Store in Fate, Texas

by Alex Tostado

Fate, Texas — Brookshire Grocery Co., a Tyler, Texas-based chain that operates about 180 grocery stores in Texas, Louisiana and Arkansas, will open a FRESH by Brookshire store in Fate, located about 30 miles northeast of Dallas. The store will span a minimum of 55,000 square feet and will be located at the corner of Interstate 30 and Memorial Parkway. Construction is scheduled to begin by the end of the year, and the store is slated to open in late 2021.

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DevelopmentGrocery-anchoredNew HampshireNews

Whole Foods to Open 42,000-Square-Foot Grocery Store in Portsmouth, New Hampshire

by Alex Tostado

Portsmouth, N.H. — Whole Foods Market will open a 42,000-square-foot grocery store in Portsmouth, located approximately 45 miles east of Concord. The store will be the Austin-based grocer’s third in the state and will anchor Durgin Square Shopping Center, a 135,000-square-foot retail property that also houses HomeGoods and T.J. Maxx. The store is slated to open this fall. Scott Black of Dartmouth Co. represented Whole Foods in the lease negotiations. Ben Starr of Atlantic Retail represented the landlord, Black Creek Group.

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DevelopmentGrocery-anchoredNewsRetailersTennessee

Whole Foods Opens 44,500-Square-Foot Store in Downtown Nashville

by Alex Tostado

Nashville, Tenn. — Whole Foods Market has opened a 44,500-square-foot store in downtown Nashville. Whole Foods employs about 120 full- and part-time workers at the new store, which is situated at 1202 Broadway. The store will be open 7 a.m. to 10 p.m. daily. The new location features a full-service coffee bar called BroadBrews, offering coffee, espresso, cold brew, teas, beer, wine and pastries. The new Whole Foods is situated at the ground level of 1200 Broadway, a 26-story, 313-unit apartment complex. This is Whole Foods’ third location in metro …

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GeorgiaGrocery-anchoredInvestment salesNewsRetailers

InvenTrust Properties Purchases Publix-Anchored Center in Metro Atlanta for $11 Million

by Alex Tostado

Sandy Springs, Ga. — InvenTrust Properties Corp. has purchased Trowbridge Crossing, a 62,600-square-foot, Publix-Anchored shopping center in Sandy Springs, for $11 million. The property was fully leased at the time of sale to tenants including the U.S. Postal Service, Great Clips, T-Mobile and Domino’s Pizza. The center was also recently upgraded to include new LED lights to improve energy efficiency and illumination for the center. Trowbridge Crossing is situated at 7531 Roswell Road, 18 miles north of downtown Atlanta. The seller was not disclosed.

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