Grocery-anchored

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NewMark Merrill Gives Away $14,000 in Groceries Amid COVID-19 Crisis

by Alex Tostado

Woodland Hills, Calif. — NewMark Merrill Cos. has launched Waves of Kindness, a program to aid communities during the COVID-19 crisis. NewMark Merrill began the program earlier this month, working with its grocery partners to give over $14,000 in groceries to more than 380 families. Customers were given $50 vouchers as they checked out. “While the retail industry is experiencing its challenges, it is our communities that need our help and support first and foremost during this crisis,” said Sandy Sigal, NewMark Merrill Chief Executive Officer. “We will continue to implement …

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Grocery-anchoredIndustry ContentLeasingMallsOperationsRestaurantsTexasWebinar

Webinar: Texas Retail Reboot — What Does the Future of Retail Look Like Post-Coronavirus?

by Sarah Daniels

On May 7, Texas Real Estate Business and Shopping Center Business magazines hosted “Texas Retail Reboot,” a webinar taking an in-depth look at what the Texas retail real estate community needs as the state reopens after statewide shutdowns due to COVID-19. The coronavirus pandemic isn’t over, but Texas retail is adjusting to a new normal, including figuring out what retail will look like going forward. What will the future of Texas retail look like post-coronavirus? Find out what industry experts have to say about these topics and more: How will Texas retailers …

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FinanceGrocery-anchoredNew YorkNewsRetailers

NorthMarq Arranges $16.5 Million Loan for Refinancing of Shopping Center in Wallington, New Jersey

by Alex Tostado

Wallington, N.J. — Northmarq has arranged a $16.5 million loan for the refinancing of Wallington Plaza, a 94,297-square-foot shopping center in Wallington, a northwestern suburb of New York City. A local bank provided the permanent loan, which carries a floating interest rate, a seven-year term and a 30-year amortization schedule. A ShopRite grocery store anchors the property, which is located at 375 Paterson Ave. Other tenants include a pet supplies store and a liquor store. Robert Ranieri of NorthMarq arranged the loan.

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CaliforniaGrocery-anchoredInvestment salesNewsRetailers

Hanley Investment Brokers $2.6 Million Ground Lease Sale of Aldi-Occupied Asset in Southern California

by Alex Tostado

Calexico, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the absolute triple-net ground lease sale of a single-tenant retail property located at 2450 Rockwood Ave. in Calexico. A Vero Beach, Florida-based private investor sold the asset to a Midwest-based buyer for $2.6 million. Aldi occupies the 18,000-square-foot property on a triple-net lease. The asset is situated on a 1.5-acre pad at the entrance to a Walmart Supercenter, which is the first Walmart location north of the Calexico/Mexico border crossing. Additional adjacent retailers include Jack in the Box, T-Mobile, …

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AlabamaGrocery-anchoredInvestment salesNewsRetailers

SRS Negotiates $18.3 Million Sale of Publix-Anchored Shopping Center Near Birmingham

by Alex Tostado

Hoover, Ala. — SRS Real Estate Partners’ National Net Lease Group has negotiated the $18.3 million sale of Shops at Tattersall Park, a fully leased, grocery-anchored shopping center in Hoover. At the time of sale, the property was leased to Publix, Goodwill and regional tenants F45, Clean Juice and a nail boutique. The seller was an undisclosed Florida-based developer that built the property in 2019. Shops at Tattersall is situated within the 78-acre, master-planned Tattersall Park development, which is 12 miles southeast of downtown Birmingham. Matthew Mousavi and Patrick Luther …

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ArizonaCompany newsGrocery-anchoredNewsRetailers

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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