Grocery-anchored

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Sprouts Farmers Market Expands Grocery Pickup, Delivery Service to 30 Texas Stores

by Alex Tostado

Phoenix — Sprouts Farmers Market has expanded its grocery pickup and delivery platform to 30 of its store in Texas as the Phoenix-based grocer faces heightened demand amid the COVID-19 outbreak. Customers may choose between same-day pickup and ordering several days in advance. Sprouts has partnered with Instacart to roll out its delivery service and plans to have it available at its 340 nationwide stores by early May. Sprouts currently operates about 45 stores in Texas, with two more slated to open in the coming months in Houston and Tyler.

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FinanceFloridaGrocery-anchoredNewsRetailers

NorthMarq Arranges $14 Million Refinancing for Village Square Shopping Center Near Miami

by Alex Tostado

Pembroke Pines, Fla. — NorthMarq has arranged a $14 million refinancing for Village Square Shopping Center, an 88,529-square-foot property in Pembroke Pines. The property features a Publix and two outparcels leased to Bank of America and McDonald’s. Village Square is situated at 1601-1697 N. Hiatus Road, 25 miles north of downtown Miami. An undisclosed life insurance company provided the loan, which features one year of interest-only payments followed by a 20-year amortization schedule. Michael Balan of NorthMarq represented the undisclosed borrower in the transaction.

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ColoradoGrocery-anchoredInvestment salesNewsRetailers

Marcus & Millichap Arranges $6.8 Million Sale of Natural Grocers-Occupied Retail Asset in Denver

by Alex Tostado

Denver — Marcus & Millichap has arranged the sale of a retail property located at 18471 Green Valley Ranch Blvd. in Denver. The newly constructed building traded for $6.8 million, setting a nationwide pricing record for a fee-simple Natural Grocers store, according to Marcus & Millichap. Cory Gross of Marcus & Millichap’s Denver office represented the undisclosed buyer and undisclosed seller in the deal. Natural Grocers occupies the 13,000-square-foot property on a 15-year triple-net lease basis. The organic and natural foods grocery store is set to open in the coming …

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CaliforniaDevelopmentGrocery-anchoredNewsRetailers

Organic Roots Grocery Store Opens at McKinley Crossroads in Corona, California

by Alex Tostado

Corona, Calif. — Organic Roots, a family-owned organic and natural food store, has opened a its location at McKinley Crossroads. ShopOne Centers REIT owns the property, located in Corona. This is the retailer’s second store, joining its existing location in Temecula. Organic Roots offers local, organic products, all-natural foods, health and body care products, and supplements. Additionally, the store features a wide selection of foods for specialized diets, including vegan, vegetarian, gluten free, low sugar, paleo and keto. Organic Roots will be open to seven days a week from 9 …

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DevelopmentFloridaGrocery-anchoredNews

International Management Co. to Develop Publix-Anchored Center in Jacksonville’s Northside District

by Alex Tostado

Jacksonville, Fla. — International Management Co. LLC will develop Northpoint Village Shopping Center, a planned 88,000-square-foot shopping center in Jacksonville’s Northside submarket. A 48,387-square-foot Publix will anchor the property, which will be built in phases. Phase I will comprise the Publix and 16,600 square feet of inline space adjacent to the grocer, as well as five outparcels. Completion of Phase I is slated for summer 2022. Depending on demand, Phase II may be developed in conjunction with Phase I or at a future date with entitlements to develop up to …

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Company newsFloridaGrocery-anchoredRetailers

Publix Offers Rent Relief for Tenants Affected by Coronavirus Outbreak at its Owned Shopping Centers

by Alex Tostado

Lakeland, Fla. — Publix Super Markets is offering two months of rent relief to businesses that operate within Publix-owned shopping centers that have closed due to the coronavirus outbreak. The Lakeland-based grocer is also waiving payments for common area maintenance fees and taxes, regardless of the tenant’s access to other relief or assistance. Publix operates 1,243 stores in seven Southeastern states, including Florida, Georgia, South Carolina, North Carolina, Tennessee and Alabama. A total number of businesses that have closed within Publix-owned centers was not disclosed. Publix owns more than 330 …

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Company newsGrocery-anchoredNew YorkNewsRetailers

A&G Negotiates Sale of Leasehold Interest in 10 Former Earth Fare Grocery Stores in Five States

by Alex Tostado

Melville, N.Y. — A&G Real Estate Partners has negotiated the sale of the leasehold interest in 10 grocery stores previously occupied by organic specialty grocery chain Earth Fare. The grocer filed for Chapter 11 bankruptcy reorganization in early February and the final leasehold sale closed Friday, April 10. The 10 stores averaged 26,000 square feet. Southeastern Grocers’ Winn-Dixie chain acquired four stores in Boynton Beach, Jacksonville, Lakewood Ranch and Viera, Florida. Austin, Texas-based Whole Foods Markets acquired two stores in south Asheville, North Carolina, and Chattanooga, Tennessee, and Aldi acquired one …

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GeorgiaGrocery-anchoredInvestment salesNewsRetailers

JLL Negotiates Sale of Publix-Anchored Shopping Center Near Atlanta

by Alex Tostado

Lilburn, Ga. — JLL has arranged the sale of Five Forks Corner, an 88,646-square-foot, Publix-anchored shopping center in Lilburn. The property was 89 percent leased at the time of sale to tenants including Pak Mail, Marco’s Pizza, Fitness 19, Mathnasium, Farmers Insurance, Sun City Tanning and Lush Nail Spa. The shopping center is situated at 4045 Five Forks Trickum Road SW, 24 miles northeast of downtown Atlanta in Gwinnett County. Jim Hamilton, Brad Buchanan and Mike Allison of JLL represented the seller, DLC Management Corp., in the transaction. Atlanta-based Branch …

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DevelopmentGrocery-anchoredNewsRetailersWashington

Sprouts Farmers Market to Open New Store in Silverdale, Washington

by Alex Tostado

Silverdale, Wash. — Sprouts Farmers Market plans to open a new store at 11066 Pacific Crest Place NW in Silverdale, about 33 miles west of Seattle. The Phoenix-based natural foods grocer will open the store at 7 a.m. local time tomorrow morning. The Silverdale location will be the third Sprouts in Washington and will operate from 7 a.m. to 8 p.m. daily, in line with the grocer’s adjusted hours during the COVID-19 pandemic. The new Sprouts will feature a large produce section, deli, fresh sushi, olive bar, sandwich bar, salad …

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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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