New York City — Locally based Ashkenazy Acquisition Corp. has acquired The Shops at Atlas Park, a 374,000-square-foot mixed-use lifestyle center located in the Glendale neighborhood of Queens. Regal Cinemas, T.J. Maxx, HomeGoods, Ulta Beauty and NY Sports Club anchor the center, which opened in 2006. Additional tenants include California Pizza Kitchen, Foot Locker, T-Mobile, The UPS Store, Five Below, Starbucks Coffee and Cold Stone Creamery. Along with retail, dining and entertainment offerings, The Shops at Atlas Park also includes a 10,000-square-foot green space for community events and 52,000 square …
Investment sales
Matthews Real Estate Facilitates $25 Million Sale of 174,175-Square-Foot Retail Center in Metro Atlanta
Roswell, Ga. — Matthews Real Estate Investment Services has facilitated the $25 million sale of Sandy Plains Village, a 174,175-square-foot community retail center located in the Atlanta suburb of Roswell. Positioned along the Ga. Highway 92 corridor, Sandy Plains Village comprises two single-story, multi-tenant retail buildings, as well as three single-tenant outparcels that house Lucia’s Italian, Dunkin’ and The Flippin’ Chicken. The property also features an 18,625-square-foot mixed-use strip complex named Sandy Plains Village II. Painted Tree Boutiques, Movie Tavern and Dollar Tree anchor the property. Approximately 15,000 square feet …
Pleasanton, Texas — Headwall Investments has sold Gorman Plaza, an 18,000-square-foot retail center in Pleasanton, roughly 36 miles south of San Antonio. Situated along Texas State Highway, the center was 89 percent leased to a mix of tenants including Hibbett Sports, Wingstop, James Avery, Papa Johns Pizza and AT&T at the time of sale. Originally built in 2015, the property sits on 3 acres, according to LoopNet Inc. The buyer and sales price were not released. Since acquiring Gorman Plaza in 2020, Headwall’s portfolio has grown to span the four major metros …
Blue Owl Capital Provides $41.3 Million in Financing for The Shops at Front & York in Brooklyn
Brooklyn, N.Y. — Blue Owl Capital has provided $41.3 million in financing for the acquisition of The Shops at Front & York, the 150,000-square-foot retail component of the larger Front & York mixed-use development. Situated in Brooklyn’s DUMBO neighborhood and built in 2021, The Shops at Front & York is anchored by LifeTime Fitness and spans an entire city block. Max Ralby and Jordan Roeschlaub of Newmark secured the single-source, fixed-rate financing on behalf of the borrowers, Namdar Realty Group and Klosed Properties.
CBL Properties Acquires Four Enclosed Malls from Washington Prime Group for $178.9 Million
Chattanooga, Tenn. — Chattanooga-based CBL Properties has acquired four enclosed regional malls from Washington Prime Group for $178.9 million. The properties include Ashland Town Center in Ashland, Kentucky; Mesa Mall in Grand Junction, Colorado; Paddock Mall in Ocala, Florida; and Southgate Mall in Missoula, Montana. CBL says it is focused on owning and managing successful enclosed malls in dynamic and growing middle markets. The deal suggests mall recovery extends beyond luxury properties, driven by limited retail construction since 2008, according to The Wall Street Journal. Ashland Town Center is a single-level …
National Asset Services, Colliers Negotiate $8.6M Sale of Lynnhaven Square in Virginia Beach
Virginia Beach, Va. — National Asset Services (NAS) and Colliers have negotiated the $8.6 million sale of the 22,933-square-foot Lynnhaven Square in Virginia Beach on behalf of the shopping center’s ownership group. The center was last acquired in 2005 by a group of eight tenant-in-common (TIC) investors. NAS has served as the asset management company for the group since 2008. Shirlee Kingsley of NAS secured a refinancing solution in 2015 that preserved the original TIC ownership structure and its tax advantages. Lynnhaven Square has maintained full occupancy both during the 2015 …
CrownPoint Partners Arranges $4.5 Million Sale of Multi-Tenant Retail Center in Cape Coral, Florida
Cape Coral, Fla. — CrownPoint Partners has arranged the $4.5 million sale of Merchants Plaza, a 15,000-square-foot, multi-tenant neighborhood retail center in Cape Coral. Located at 155-159 Hancock Bridge Parkway, the center sits on 1.2 acres and was fully leased to seven tenants including Tires Plus, PI Pizza, Hancock Smoke Shop, Lee Nails, Floral Designs, Palm Tree Massage Spa and Cape Palace Arcade at the time of sale. According to CrownPoint Partners, the center was refurbished in 2023 with a new roof, upgraded HVAC systems, LED lighting, a new pylon …
Ardent Closes on Land Acquisition for Mixed-Use Project in Durham, Signs Leases with Sprouts and Shake Shack
Durham, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes upon completion. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an …
MHCommercial Real Estate Fund Buys 90,000-Square-Foot Retail Center on Florida’s Space Coast for $9 Million
Merritt Island, Fla. — MHCommercial Real Estate Fund II, a private equity fund launched by South Florida-based commercial real estate services firm NAI Merin Hunter Codman, has purchased Merritt Crossing, a 90,000-square-foot shopping center on Florida’s Space Coast, for approximately $9.1 million. Situated across 15.3 acres on Merritt Island, the property was built in 1983 and renovated in 2002. DG Market and Planet Fitness anchor Merritt Crossing, which was 92.3 percent leased at the time of sale. Other tenants include The Health Bar, a hair studio, a daycare and multiple …
Regency Centers Obtains Five Southern California Shopping Centers Totaling 630,000 Square Feet for $357 Million
Jacksonville, Fla. — Jacksonville, Florida-based Regency Centers Corp. has obtained five shopping centers within the 23,000-acre master-planned community of Ranch Mission Viejo in Orange County, California, for $357 million. The properties, which comprise 630,000 square feet, include Bridgepark Plaza, Mercantile West, Mercantile East, Terrace Shops and Sendero Marketplace. The portfolio is 97 percent leased to a mix of needs-based tenants such as grocers, restaurants, and health, wellness and personal service uses. The seller was Newport Beach, California-based Westar Associates. Regency funded the acquisition with a combination of operating partnership (OP) …