Grocery-anchored

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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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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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