Grocery-anchored

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

by Alex Tostado

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 …

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FinanceGrocery-anchoredIllinoisNewsRetailers

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

by Alex Tostado

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 …

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Grocery-anchoredInvestment salesNewsPennsylvaniaRetailers

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

by Alex Tostado

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.

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Grocery-anchoredInvestment salesNew JerseyNewsRetailers

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

by Alex Tostado

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.

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DevelopmentGrocery-anchoredNew YorkNewsRetailers

Wegmans to Open 121,000-Square-Foot Supermarket in Harrison, New York

by Alex Tostado

Harrison, N.Y. — Wegmans Food Market will open a 121,000-square-foot supermarket in Harrison, a northern suburb of New York City. The store is known for its wide selection of fresh produce, deli meats, cheeses and fresh baked breads, as well as its devoted following of “Wegmaniac” fans. The store will also house an internal restaurant called The Burger Bar, which will serve made-to-order burgers, sandwiches, salads and other casual cuisine, as well as beer and wine by the glass. Wegmans plans to hire 280 part-time and 220 full-time employees at …

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ColoradoGrocery-anchoredInvestment salesNewsRetailers

Boulder Group Negotiates $14.7 Million Sale of Net-Leased Safeway in Metro Denver

by Alex Tostado

Lone Tree, Colo. — The Boulder Group has negotiated the $14.7 million sale of a single-tenant property net leased to Safeway in Lone Tree. The 55,650-square-foot building is located at 9229 Lincoln Ave. along Interstate 25, 17 miles south of downtown Denver. Thee undisclosed buyer is completing a 1031 exchange while the undisclosed seller is a private REIT. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. Albertsons Co. guarantees Safeway’s lease.

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CaliforniaFinanceGrocery-anchoredInvestment salesNewsRetailers

GRI Fairmont Receives $19.6 Million Loan for Acquisition of Fairmont Shopping Center in Bay Area

by Alex Tostado

Pacifica, Calif. — GRI Fairmont LLC, an affiliate of First Washington Realty Inc., has received $19.6 million in financing for the acquisition of Fairmont Shopping Center, a retail asset located in Pacifica. The property is situated on 7.5 acres at 705-799 Hickey Blvd. Greg Brown, John Marshall and Bercut Smith of JLL Capital Markets secured the 10-year, fixed-rate loan with PGIM Real Estate Finance for the borrower. Anchored by Safeway, the 102,982-square-foot property was 96 percent leased at the time of sale. Current tenants include Rite Aid, Dollar Tree, Supercuts, …

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Grocery-anchoredInvestment salesNewsOhioRetailers

Broder & Sachse Acquires 70,366-Square-Foot Shopping Center in Hilliard, Ohio

by Alex Tostado

Hilliard, Ohio — Broder & Sachse Real Estate has acquired The Shoppes at Haydens Crossing in Hilliard, a suburb of Columbus. Located at 6700 Hayden Run Blvd., the 70,366-square-foot shopping center is anchored by Giant Eagle. Other tenants include Get Go Café + Market, Marco’s Pizza, Great Clips, Hayden Run Dentistry and Free to Be Me Salon. There is one retail space currently available for lease. Ben Wineman and Amy Holter of Mid-America Real Estate Corp. represented the seller, Pittsburgh-based ECHO Realty. The purchase price was undisclosed.

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ArizonaGrocery-anchoredInvestment salesNewsRetailers

Global Retail Investors Buys 138,476-Square-Foot Shops at Gainey Village in Scottsdale

by Alex Tostado

Scottsdale, Ariz. — An entity formed by Global Retail Investors has acquired The Shops at Gainey Village, an urban village retail asset located in Scottsdale. Located at the southeast corner of Scottsdale and Doubletree Ranch roads, The Shops at Gainey Village features 138,476 square feet of retail space. Sprouts Farmers Market anchors the asset, which is fully occupied. Gainey Village Retail Center, an entity formed by Des Moines, Iowa-based Principal Real Estate Investors, sold the property for an undisclosed price. Michael Hackett and Ryan Schubert of Cushman & Wakefield’s Phoenix office …

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DevelopmentGrocery-anchoredNew YorkNewsRetailers

Lidl Opens 36,000-Square-Foot Grocery Store on Long Island

by Alex Tostado

West Babylon, N.Y. — German grocer Lidl has opened a 36,000-square-foot store at Hubbards Commons, a 65,970-square-foot shopping center in West Babylon on the western part of Long Island. Lidl will offer produce, meat, freshly baked goods and an array of household products. Hubbards Commons is located along Sunrise Highway, which connects Long Island to New York City. The property is now 98 percent leased to tenants including Walgreens, Orangetheory Fitness and Subway. ShopOne is the landlord of Hubbards Commons.

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