Grocery-anchored

Coro Realty Acquires 80,466-Square-Foot Shopping Center Near Atlanta

by Alex Tostado January 31, 2020

Powder Springs, Ga. — Coro Realty has acquired Varner Crossing, an 80,466-square-foot retail center in Powder Springs. An undisclosed Chicago investor sold the property for $12.7 million. Kroger anchors the center, which was 98 percent leased at the time of sale to tenants including Subway, Marco’s Pizza and Macland Animal Hospital. Coro Realty also plans to pursue a ground lease or build-to-suit opportunity for a vacant outparcel included in the deal. The property is situated at 4150 Macland Road, 25 miles northwest of downtown Atlanta. Anthony Blanco of TSCG led …

January 31, 2020

Georgia Grocery-anchored Investment sales News Retailers

Berkeley Capital Arranges $43.8 Million Sale of GreenWise-Anchored Shopping Center in Metro Atlanta

by Alex Tostado January 29, 2020

Marietta, Ga. — Berkeley Capital Advisors has arranged the $43.8 million sale of Sandy Plains Marketplace, a 72,913-square-foot shopping center in Marietta. GreenWise Market, the smaller footprint organic grocery concept from Publix, anchors the property, which includes other tenants such as Hollywood Feed, Thrive Affordable Vet Care, Pacific Dental Services, MOD Pizza, First Watch, Bad Daddy’s, Synovus Bank and Panda Express. The seller, Atlanta-based Fuqua Development, delivered the asset at the beginning of January. The buyer was not disclosed.

January 29, 2020

Grocery-anchored Indiana Investment sales News Retailers

Hanley Investment Group Arranges $3.8 Million Sale of Aldi-Occupied Property in Northern Indiana

by Alex Tostado January 29, 2020

Mishawaka, Ind. — Hanley Investment Group Real Estate Advisors has arranged the $3.8 million sale of a single-tenant property net leased to Aldi in northern Indiana’s Mishawaka. Originally built in 2007 and remodeled in 2019, the 20,000-square-foot building is located at 210 W. Douglas Road. Jeff Lefko, Bill Asher and Dylan Mallory of Hanley, in association with Midland Atlantic Properties Inc., represented the California-based 1031 exchange buyer. A Florida-based private investor sold the asset. The sales price represents a cap rate of 4.5 percent.

January 29, 2020

Florida Grocery-anchored Investment sales News Retailers

JLL Arranges $39.5 Million Sale of Shopping Center in South Florida

by Alex Tostado January 24, 2020

Royal Palm Beach, Fla. — JLL has arranged the $39.5 million sale of Coral Sky Plaza, a 232,727-square-foot retail center in Royal Palm Beach. BJ’s Wholesale Club anchors the property, which was 96 percent leased at the time of sale to tenants including Ross Dress for Less, buybuy Baby, Bed Bath & Beyond, Five Below, IHOP and Famous Footwear. The property is located at 510-590 State Road 7, 11 miles west of downtown West Palm Beach. The seller was not disclosed, although multiple media outlets report Claion Partners sold the …

January 24, 2020

Grocery-anchored Investment sales New Jersey News Retailers

RPC Real Estate, Merion Realty Partners Sell Larchmont Commons in Metro Philadelphia for $18.2 Million

by Alex Tostado January 24, 2020

Mount Laurel, N.J. — RPC Real Estate and Merion Realty Partners have sold Larchmont Commons, a 128,172-square-foot retail center in Mount Laurel, a suburb of Philadelphia, for $18.2 million. Anchored by ALDI, Planet Fitness and Dollar Tree, the property was 88 percent leased at the time of sale. Other tenants include Hair Cuttery, The UPS Store and Kumon Learning Center. Chris Munley, James Galbally, Jose Cruz and Colin Behr of JLL represented the sellers in the transaction. Ryan Ade of JLL placed a $12.9 million, fixed-rate acquisition loan through an …

January 24, 2020

Grocery-anchored Investment sales Massachusetts News Retailers

Crosspoint Associates Buys 81,702-Square-Foot Amherst Shopping Center in Central Massachusetts

by Alex Tostado January 24, 2020

Amherst, Mass. — Metro Boston-based investment firm Crosspoint Associates Inc. has purchased Amherst Shopping Center, an 81,702-square-foot retail asset in the central Massachusetts city of Amherst. Built in 1997 and anchored by Big Y Supermarket and CVS, the property was 97 percent leased at the time of sale. Additional tenants include Dunkin’, Goodwill and Supercuts. Nat Heald and Chris Angelone of JLL represented the undisclosed seller in the transaction. The price was not released.

January 24, 2020

Development Georgia Grocery-anchored News Retailers

MAB American to Break Ground on $80 Million Monroe Pavilion Shopping Center in Metro Atlanta

by Alex Tostado January 21, 2020

Monroe, Ga. — MAB American Management plans to break ground in the first quarter on Monroe Pavilion, an $80 million shopping center situated on a 100-acre site in Monroe, an Atlanta suburb in Walton County. The property’s leasing agent, Retail Specialists, has signed several retailers to join the tenant roster of the 350,000-square-foot project, including Publix, Ross Dress for Less, Ulta Beauty, Marshalls, Rack Room Shoes and Five Below. Beau Young of Retail Specialists is also targeting restaurants and service-based retailers for the shopping center and its outparcels. MAB American …

January 21, 2020

Finance Grocery-anchored Illinois News Retailers

Cohen Financial Arranges $45 Million Refinance Loan for Six Retail Properties in Southeast, Midwest

by Alex Tostado January 15, 2020

Chicago — Cohen Financial, a division of Truist Bank, has arranged a $45 million refinance loan for a 552,143-square-foot retail portfolio spanning Mississippi, North Carolina, Alabama, Ohio, Kentucky and Indiana. Dan Rosenberg and Matt Terpstra of Cohen’s Chicago office represented the borrower, Midland Atlantic Properties, in the loan transaction. Goldman Sachs provided the 10-year, fixed-interest-rate loan. Five of the six properties are grocery anchored. The five grocery anchored properties in the portfolio are: Parkside Square, a 150,344-square-foot, Rouses Markets-anchored property located in Ocean Springs, Mississippi; Maysville Marketsquare, a 144,945-square-foot, Kroger-anchored …

January 15, 2020

Grocery-anchored Investment sales News Pennsylvania Retailers

Marcus & Millichap Negotiates $40 Million Sale of Grocery-Anchored Retail Center in Blue Bell, Pennsylvania

by Alex Tostado January 15, 2020

Blue Bell, Pa. — Marcus & Millichap has negotiated the $40 million sale of Centre Square Commons, an 88,598-square-foot retail center in Blue Bell, a northern suburb of Philadelphia. A 22,450-square-foot Aldi Supermarket anchors the shopping center, which was 96 percent occupied at the time of sale. Other tenants include Pennsylvania Fine Wine & Spirits Signature Premium Store, Starbucks and Anthony’s Coal Fired Pizza. Brad Nathanson of Marcus & Millichap represented the seller, Kinsley Properties, in the transaction. Nathanson also procured the buyer, Medipower Overseas Co.

January 15, 2020

Grocery-anchored Investment sales New Jersey News Retailers

JLL Brokers $32.3 Million Sale of Grocery-Anchored Retail Center in Monroe, New Jersey

by Alex Tostado January 13, 2020

Monroe, N.J. — JLL has brokered the $32.3 million sale of Concordia Shopping Center, a 135,090-square-foot retail center in Monroe, located approximately 30 miles northeast of Trenton. Situated at 1600 Perrineville Road, the retail center was 95 percent leased to tenants including Stop & Shop, UPS and Monroe Physical Therapy at the time of sale. Chris Munley, Jose Cruz and James Galbally led a JLL team that represented the seller, Concordia Shopping Manager Corp., in the transaction. A joint venture of KPR and DRA Advisors was the buyer.

January 13, 2020

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