Los Angeles — JLL Capital Markets has arranged the $12.4 million sale of the Silver Lake Collection, a retail property located in the Silver Lake neighborhood of Los Angeles. Originally built in 1934 and renovated in 2023, the property comprises five street-front stores totaling 10,876 square feet. The property is fully leased to a mix of food-and-beverage concepts including Counter Culture Coffee, El Condor and Yi Cha. Tim Kuruzar of JLL Capital Markets represented the seller, Strategic Realty Trust, in the transaction, while Matthew Fainchstein of JLL represented the undisclosed …
Gainesville, Fla. — Prudent Growth Partners LLC has acquired SouthGate Centre, a shopping center located in Gainesville, for $5.2 million. The property totals 24,025 square feet. Built in 1989, the center was 91 percent leased to 13 tenants at the time of sale.
Exton, Pa. — JLL Capital Markets has brokered the $34.3 million sale of Exton Square, a 990,000-square-foot super-regional shopping center located in the Philadelphia suburb of Exton. Abrams Realty & Development acquired the property from PREIT. Originally built in 1973, the 75-acre center was renovated in 2000. The property — which is shadow anchored by Whole Foods Market — features tenants including Boscov’s, Macy’s, Main Line Health and Round1 Entertainment. Jim Galbally, David Monahan, Patrick Higgins and Fran Coyne of JLL represented the seller in the transaction.
Columbus, Ohio — American Commercial Realty (ACR) has obtained a retail portfolio totaling approximately 215,000 square feet across seven shopping centers in Columbus. The properties include Village Centre, Beechcroft Centre, James Livingston Centre, Main Hamilton Centre, 5156 E. Main St. Centre, Wyandotte Centre and McNaughten Center. Alex Marsh of The Robert Weiler Co. will manage leasing at the properties on behalf of the new ownership.
Riverdale Park, Md. — First Washington Realty has acquired a 163,000-square-foot shopping center in the Washington, D.C. suburb of Riverdale Park. The shopping center, which is situated within the mixed-use district of The Station at Riverdale Park, is anchored by Whole Foods Market. Additional tenants at the shopping center include Burton’s Grill, Starbucks Coffee, Gold’s Gym and Jersey Mike’s. Amrit Chase negotiated the transaction on behalf of First Washington Realty on an internal basis.
Cornelia, Ga. — Cushman & Wakefield has arranged the sale of Habersham Village, a 146,544-square-foot shopping center located in Cornelia. Morrison Group acquired the property for an undisclosed price. The property was recently redeveloped to accommodate four anchor tenants including T.J. Maxx, Michaels, Planet Fitness and Bealls. Margaret Jones and Lane Breedlove of Cushman & Wakefield represented the seller, an affiliate of Atlanta-based Vanguard Associates, Inc., in the transaction.
Wood River, Ill. — Broad Reach Retail Partners has sold Wood River Plaza, a 65,838-square-foot shopping center located in Wood River, approximately 15 miles northeast of downtown St. Louis. Broad Reach originally acquired the property in 2017. The center — which was 88.4 percent leased at the time of sale — is shadow-anchored by a Walmart Supercenter. Tenants at the property include Five Below, Edward Jones, Great Clips, Subway, Sally Beauty, Dollar Tree, H&R Block, America’s Best Contacts & Eyeglasses, Help at Home and GameStop.
Urbana, Ill. — Marcus & Millichap has brokered the $3.4 million sale of Gateway Shoppes at Five Points, a 12-suite retail property located in Urbana. Built in 2011, the center comprises two multi-tenant strip centers totaling roughly 30,000 square feet. The property was 95 percent leased at the time of sale. Jeremie Johnson and Nathan Whalen of Marcus & Millichap represented the seller, Prairie Holdings Newton LLC, in the transaction. David O’Keefe, Steve Bogoyevac and Johnathan Weir of Marcus & Millichap procured the buyer, Nikolas Chugay. Michael Derk of Marcus …
Lake Worth, Fla. — Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. Acadia Realty Trust purchased the property through its investment management platform for $68 million. The property was 99 percent leased to 42 tenants at the time of sale. Retailers at the center include T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray Medical Center. The property also includes six outparcel buildings that are leased to Chase Bank, PNC Bank, Autozone, Outback Steakhouse, …
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Webinar: Retail Bankruptcy & Restructuring — Lessons from 2024 & What’s Ahead
The March 14 Shopping Center Business webinar “Retail Bankruptcy & Restructuring — Lessons from 2024 & What’s Ahead” covered the state of a retail industry that is both “frenetic and cautious,” in the words of Dana Telsey of Telsey Advisory Group. Tune in to the six-minute mark of the on-demand webinar for Dana’s impressive summary of the latest news in retail. Panelists covered key insights into the evolving retail landscape, including the trends for bankruptcies and liquidations in 2024 and whether those trajectories are likely to continue into 2025. Economic …