Grocery-anchored

CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Hanley Investment Group Arranges $10.4 Million Sale of Sprouts-Occupied Retail Asset in Inland Empire

by Alex Tostado

Fontana, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail building located within the recently completed Highland Village Shopping Center in Fontana. Woodlands Hills, California-based Adler Realty Investments sold the asset to a private investor for $10.4 million. Sprouts Farmers Market occupies the 30,000-square-foot building, which anchors Highland Village Shopping Center. Additional tenants at the center, which were not included in the acquisition, are BurgerIM, Jack in the Box, Raising Cane’s Chicken Fingers, Jersey Mike’s Subs, Café Rio Mexican Grill, Oggi’s, Mountain View …

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DelawareDevelopmentGrocery-anchoredNewsRetailers

Sprouts to Open 30,000-Square-Foot Grocery Store in Wilmington, Delaware

by Alex Tostado

Wilmington, Del. — Sprouts Farmers Market will open a 30,000-square-foot grocery store in Wilmington, located approximately 30 miles southwest of Philadelphia. The Arizona-based grocery chain offers organic produce, an expansive bulk foods selections and an extensive vitamin department. Located at 4727 Concord Pike, the new store will bring 140 full- and part-time jobs to the area. The opening is scheduled for March 11.

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FloridaGrocery-anchoredInvestment salesNewsRetailers

SRS Brokers $8.3 Million Sale of Publix-Anchored Shopping Center in Southwest Florida

by Alex Tostado

North Fort Myers, Fla. — SRS Investment Property Group has brokered the $8.3 million sale of Publix at Eagle Landing, a 57,840-square-foot, Publix-anchored shopping center in North Fort Myers. The center was built in 2012 and was 88 percent leased at the time of sale to tenants including Shoreline Vapor, China King, Boutique Nails & Spa and The Fat Apple. The property is situated at 6694-6704 Bayshore Road, seven miles north of downtown Fort Myers. Steve Miskew, Kyle Stonis and Pierce Mayson of SRS represented the seller, VAL Eagle Landing …

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Grocery-anchoredInvestment salesNewsNorth CarolinaRetailers

Branch Properties Sells Sprouts-Anchored Shopping Center in Greensboro, North Carolina for $38.4 Million

by Alex Tostado

Greensboro, N.C. — Branch Properties LLC has sold Westridge Square, a 182,000-square-foot, Sprouts Farmers Market-anchored retail center in Greensboro, for $38.4 million. Branch Properties has been renovating the property for four years. The renovation included moving Sprouts into a 30,524-square-foot space that Harris Teeter formerly occupied. The seller also reconfigured Kohl’s to a smaller footprint to make room for Planet Fitness. Westridge Square is situated at the intersection of Battleground Avenue and Westridge Road, five miles northwest of downtown Greensboro. Berkley Capital Advisors represented the seller in the transaction. Select-Westridge …

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Grocery-anchoredInvestment salesNew JerseyNewsRetailers

JLL Brokers $25 Million Sale of Grocery-Anchored Retail Center in Lumberton, New Jersey

by Alex Tostado

Lumberton, N.J. — JLL has brokered the $25 million sale of Cross Roads Plaza, a 99,650-square-foot retail center in Lumberton, an eastern suburb of Philadelphia. A 70,818-square-foot ShopRite grocery store anchors the property, along with a Wawa convenience store and a Wells Fargo bank. Chris Munley, James Galbally, Jose Cruz and Colin Behr of JLL represented the seller, a partnership between Madison International Realty and SITE Centers Corp. Medipower Public Co. Ltd. purchased the asset.

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Company newsGrocery-anchoredNewsNorth CarolinaRetailers

Specialty Grocer Earth Fare to Close All Stores and Liquidate Inventory, Files for Chapter 11 Bankruptcy

by Alex Tostado

Asheville, N.C. — Earth Fare, a privately held grocery chain that sells natural and organic products, says it will shutter all of its stores and launch a liquidation inventory sale. The grocer lists 46 stores on its website, the bulk of which are in Florida and its home state of North Carolina. Earth Fare also has five stores in the Midwest and a few others in Alabama, Georgia, Tennessee, Virginia and South Carolina. Earth Fare is also shuttering its corporate office in Asheville. The Wall Street Journal reported that Earth Fare, …

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Grocery-anchoredInvestment salesNewsRetailersTexas

Stockdale Investment Acquires Whole Foods-Anchored Preston Forest Shopping Center in Dallas

by Alex Tostado

Dallas — Stockdale Investment Group, a locally based firm, has acquired Preston Forest Shopping Center, a 200,000-square-foot retail property located at the corner of Preston Road and Forest Lane in north Dallas. Anchored by Whole Foods Market, the property houses other tenants such as Staples, Walgreens, JOANN Fabric & Crafts, Corner Bakery, Velvet Taco and Wells Fargo. Preston Forest Shopping Center was built on 13 acres in 1961 and was 95 percent leased at the time of sale. The seller was Mixon Investment Co. Inc.

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FinanceFloridaGrocery-anchoredNewsRetailers

Aztec Group Arranges $17.4 Million Refinancing for Retail Center in Miami

by Alex Tostado

Miami — Aztec Group has arranged a $17.4 million refinancing loan for Sunset Strip, an 86,029-square-foot retail center in Miami. Presidente Supermarket and Dollar Tree anchor the property, which includes other tenants such as Atlantis Academy, Metro PCS, Inkaholik and Atlakat Restaurant & Grill. The property is situated at 10855 S.W. 72nd St., 12 miles west of downtown Miami. Starwood Mortgage Capital provided the loan to an affiliate of Miami-based CF Properties. The nonrecourse, interest-only loan has a 10-year term with a fixed 3.57 percent interest rate.

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Grocery-anchoredInvestment salesNewsRetailersTennessee

Boyle Investment Sells Trader Joe’s-Anchored Shopping Center in Nashville for $45.3 Million

by Alex Tostado

Nashville, Tenn. — Boyle Investment Co. has sold Lion’s Head Village, a Trader Joe’s-anchored shopping center in Nashville, for $45.3 million. The center is shadow-anchored by Target and was fully leased at the time of sale to tenants including Great Clips, Sport Seasons, Cosmos Nails, Plato’s Closet Nashville and Dalts American Grill. Lion’s Head Village is situated on 9.5 acres at 90 White Bridge Road, two miles from Vanderbilt University and four miles from downtown Nashville. Jim Hamilton of JLL represented the locally based seller in the transaction. San Francisco-based …

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Grocery-anchoredInvestment salesMassachusettsNewsRetailers

JLL Income Property Trust Acquires Milford Crossing Shopping Center in Massachusetts for $42 Million

by Alex Tostado

Milford, Mass. — JLL Income Property Trust, an institutionally managed daily NAV REIT, has acquired Milford Crossing, a 160,000-square-foot shopping center located approximately 40 miles southwest of Boston, for $42 million. A Stop & Shop grocery store anchors the shopping center, which was 99 percent leased to restaurants, medical, fitness and service-oriented retailers at the time of sale. RD Management LLC was the seller.

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