Investment sales

Lulah-Hills_Decatur
GeorgiaInvestment salesMixed-useNews

Edens to Redevelop North DeKalb Mall in Atlanta Suburb to 2.5 Million-Square-Foot Mixed-Use Development

by Hayden Spiess

Decatur, Ga. — Edens plans to transform North DeKalb Mall, an enclosed regional shopping mall in the Atlanta suburb of Decatur, into a 2.5 million-square-foot mixed-use development called Lulah Hills. Edens acquired the 622,297-square-foot mall in 2021 and rezoned the 73-acre site in 2022 to allow for mixed-use development. Upon completion, Lulah Hills will comprise 320,000 square feet of retail and restaurant space, 1,700 multifamily units, 100 townhomes and a 150-room hotel. North DeKalb Mall opened in 1965 and served as the first fully enclosed mall in metro Atlanta. Demolition …

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Steeplechase-Center-Houston
Investment salesNewsTexas

JLL Arranges Sale of 195,575-Square-Foot Retail Center in Houston

by Hayden Spiess

Houston — JLL Capital Markets has arranged the sale of Steeplechase Center, a 195,575-square-foot retail center located in Houston. Tenants at the property, which was 82 percent leased at the time of sale, include Goodwill, Melrose, Citi Trends, Uptown Beauty, Dollar Tree, dd’s Discounts, 99 Cents Only, Big City Wings, Leslie’s Pools, Rent a Center, La Reyna Tortilleria, Kim’s Hair Salon, Imperial Foot Reflexology, Iris Nails and Spa, Nancy’s Tailor, Metro PCS, Pho Town, Checkers and Ostioneria Michoacan. John Indelli and Ryan West of JLL represented the seller, an entity …

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Esplanade-Town-Center-Kennesaw-Ga
GeorgiaInvestment salesNet leaseNews

ARC Acquires Two Retail Properties in Metro Atlanta for $15 Million

by Hayden Spiess

Cumming and Kennesaw, Ga. —The Aubuchon Realty Co. (ARC) has acquired two retail properties in metro Atlanta in separate transactions totaling $15 million. ARC purchased Town Center Esplanade — a shopping center located in Kennesaw, roughly 30 miles northwest of Atlanta — from MC Promenade LLC for $9.5 million. Tenants at the property, which was built in 1988 and comprises 39,108 square feet, include Revolving Sushi Factory, J. Christopher’s Café, Three Dollar Café, The Juicy Crab and Ten Seconds Rice Noodle. ARC also acquired a single-tenant property located in Cumming, …

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Bridgewater-Commons-Bridgewater-N.J
DevelopmentInvestment salesMixed-useNew JerseyNews

Pacific Retail Capital Partners Acquires 1.2 Million-Square-Foot Mall in New Jersey, Plans Redevelopment

by Hayden Spiess

Bridgewater, N.J. — Pacific Retail Capital Partners (PRCP) has acquired Bridgewater Commons, a 1.2 million-square-foot mall located in Bridgewater, roughly 40 miles outside New York City, for an undisclosed price. The Village at Bridgewater Commons, an adjacent 94,000-square-foot open-air shopping center, was included in the acquisition. Tenants at the mall include Bloomingdale’s, Macy’s, Apple, J. Crew, lululemon, Athletica, Williams-Sonoma, The Cheesecake Factory, AMC Dine-In Theatres, LOFT, Maggiano’s Little Italy, Shake Shack and Starbucks Coffee.  PRCP has assumed the property’s existing loan and secured an extension, with plans to transform the …

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Meadows-Village-Center-Temecula-Calif
CaliforniaGrocery-anchoredInvestment salesNews

CBRE Brokers $27.7 Million Sale of Retail Center in Southern California

by Hayden Spiess

Temecula, Calif. — CBRE has brokered the $27.7 million sale of Meadows Village Center, a 67,336-square-foot retail center located in Temecula. Barons Market anchors the center, which was 96 percent leased at the time of sale. Other tenants include Starbucks Coffee, Wells Fargo, Palomar Health, Subway, Crumbl Cookies, The UPS Store and Pacific Dental. The property also features a CVS/pharmacy, which was not included in the sale. Jimmy Slusher, Philip Voorhees and James Tyrrell of CBRE represented the seller, funds managed by affiliates of Fortress Investment Group LLC, in the …

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Alpha-Soda-Center-Alpharetta-Ga
GeorgiaInvestment salesNews

Franklin Street Arranges $9.4 Million Sale of Shopping Center in Atlanta Suburb

by Hayden Spiess

Alpharetta, Ga. — Franklin Street has arranged the $9.4 million sale of Alpha Soda Center, a 14,625-square-foot strip shopping center located in the Atlanta suburb of Alpharetta. An entity doing business as Stonewalk Alpha III LLC sold the property, which underwent renovations in 2021, to an undisclosed buyer. Bryan Belk and John Tennant of Franklin Street’s Retail Investment Sales Team brokered the transaction on behalf of the seller.

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South-Sierra-Plaza-Fontana-Calif
CaliforniaInvestment salesNews

Progressive Arranges $6 Million Sale of Retail Center in Southern California

by Hayden Spiess

Fontana, Calif. — Progressive Real Estate Partners has arranged the $6 million sale of South Sierra Plaza, a 17,250-square-foot strip retail center located in Fontana. Comprising 12 units, the property was 93 percent leased at the time of sale to tenants including a dentist, nail salon, Armed Forces career center, staffing agency, Japanese restaurant and Peruvian restaurant. Brad Umansky and Lance Mordachini of Progressive represented the seller, a private Los Angeles-based investor, in the transaction. Paul Galmarini and Albert Lopez, also of Progressive, handled leasing at the property prior to …

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4756-W-Cal-Sag-Road
IllinoisInvestment salesNews

Colliers Arranges $10.5 Million Sale of Eight-Property Retail, Industrial Portfolio in Metro Chicago

by Hayden Spiess

Chicago — Colliers has arranged the $10.5 million sale of a portfolio comprising seven retail properties and one industrial building in metro Chicago. The sale represents the first part of a multi-phase transaction that includes 22 retail properties, three land sites and one industrial building. Peter Block and Rachel Patten of Colliers represented the seller, a family office, in the disposition of the properties to Arnold Meyer & Co. Block expects to close on the remaining properties in the portfolio this summer.

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Investment salesNewsTexas

SHOP Cos. Brokers Sale of 23,609-Square-Foot Shopping Center in Dallas-Fort Worth Metro

by Hayden Spiess

Frisco, Texas — SHOP Cos. has brokered the sale of Custer Road Commons, a 23,609-square-foot shopping center located in Frisco, roughly 30 miles north of Dallas. Situated on 4.3 acres, the center was fully leased at the time of sale to tenants including Starwood Café, My Eyelab, Jason’s Deli, Zenith Clinic and Novuskin. Tim Axilrod and Tayler Rose of SHOP Cos. represented the undisclosed seller in the transaction.

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Coronado-Plaza-Coronado-Calif
CaliforniaInvestment salesNews

CBRE Brokers $40 Million Sale of Retail Center in Coronado, California

by Hayden Spiess

 Coronado, Calif. — CBRE has brokered the $40 million sale of Coronado Plaza, a 41,949-square-foot retail center located in Coronado. Built in 1981, the three-story property is situated on one block across from the Hotel Del Coronado. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the seller, an entity doing business as PREF Coronado Plaza LLC, in the transaction.

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