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Investment sales

Whole Foods Market will anchor Doral Marketplace in Doral, Florida.
DevelopmentFloridaGrocery-anchoredInvestment salesMixed-useNews

SJC Ventures, Nuveen to Develop 88,938-Square-Foot Mixed-Use Center in Metro Miami

by Hayden Spiess

Doral, Fla. — SJC Ventures and Nuveen Real Estate have acquired a 10-acre parcel in Doral, roughly 17 miles outside Miami, with plans to develop a mixed-use center at the site. Upon completion, the center will comprise 88,938 square feet. Whole Foods Market will anchor the property, which has been named Doral Marketplace. Other tenants at the center will include Shake Shack, First Watch, GoodVets, The Spot Barbershop, Encore Nails, VIO MedSpa and Apizza Brooklyn Resto + Vino. Doral Marketplace will be situated adjacent to Bridge Point Doral, an industrial park …

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FloridaInvestment salesNet leaseNews

SRS Brokers $3.5 Million Sale of Single-Tenant Property in Central Florida

by Hayden Spiess

Ocala, Fla. — SRS Real Estate Partners has brokered the $3.5 million sale of a newly delivered single-tenant property located in Ocala, a city in Central Florida. Chipotle Mexican Grill occupies the building, which totals 2,490 square feet, on a 15-year, triple-net lease. The property is situated on a one-acre lot near an Aldi, Walmart Supercenter, Lowe’s Home Improvement and Ross Dress for Less. Patrick Nutt and William Wamble of SRS represented the undisclosed seller in the transaction. A Spain-based buyer acquired the property. 

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CaliforniaGrocery-anchoredInvestment salesNews

Cushman & Wakefield Brokers $56.6 Million Sale of Marketplace del Rio in Southern California

by Hayden Spiess

Oceanside, Calif. — Cushman & Wakefield has brokered the $56.6 million sale of Marketplace del Rio, a 183,292-square-foot shopping center located in Oceanside. Stater Bros. Markets anchors the property, which recently underwent extensive renovations. Jimmy Slusher, James Tyrell and Preston Fetrow of CBRE represented the seller, ROIC, in the transaction. A California-based private investor acquired the property. Phil Lyons and Chad Iafrate of Cushman & Wakefield represented the buyer. 

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FinanceInvestment salesNew YorkNews

PCCP Provides $36 Million Acquisition Financing for The Hub Shopping Center on Long Island

by Hayden Spiess

Hempstead, N.Y. — PCCP has provided a $36 million senior loan for the acquisition of The Hub Shopping Center, a retail center located in Hempstead on Long Island. Agus Holdings is the borrower. Tenants at the property, which totals 248,569 square feet, include The Home Depot, Stop & Shop, Old Navy and AT&T. The center was 99 percent leased at the time of sale. 

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CaliforniaInvestment salesNews

Kennedy Wilson Brokers $2.2 Million Sale of Retail Building in Los Angeles

by Hayden Spiess

Los Angeles — Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, has brokered the $2.2 million sale of a retail building located on Melrose Avenue in Los Angeles. Tenants at the property, which comprises 2,933 square feet, include jeweler The Great Frog. Ed Sachse, Jaysen Chiaramonte and Jack Nathan of Kennedy Wilson represented the seller, Quiet Lion, in the transaction. This marks the final property to be sold within a three-property Melrose Avenue portfolio. In total, Quiet Lion garnered $9 million from the portfolio sales. 

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Company newsInvestment salesNewsRestaurantsTexas

Darden Restaurants Agrees to Acquire Tex-Mex Chain Chuy’s for $605 Million

by Hayden Spiess

Austin, Texas and Orlando, Fla. — Darden Restaurants (NYSE: DRI) has agreed to acquire Chuy’s Holdings (NASDAQ: CHUY) for $605 million in an all-cash transaction.  The Tex-Mex restaurant chain — which owns and operates 101 full-service restaurants across 15 states — will join Darden’s existing restaurant portfolio, which includes Olive Garden, LongHorn Steakhouse and Ruth’s Chris Steak House, among others.  Under terms of the merger agreement, Orlando-based Darden will acquire all outstanding shares of Chuy’s at $37.50 per share. The purchase price represents a 40 percent premium to the Austin-based company’s …

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FinanceGrocery-anchoredInvestment salesNewsPennsylvania

BWE Arranges $45 Million First Mortgage Financing for Brandywine Square Shopping Center in Metro Philadelphia

by Hayden Spiess

Downingtown, Pa. — BWE has arranged $45 million in first mortgage financing for Brandywine Square Shopping Center, a 607,999-square-foot retail center located in Downingtown, roughly 40 miles outside Philadelphia. Kevin Hicks of BWE secured the financing through a life insurance company on behalf of the borrower, Allied Properties. Wegman’s anchors the property. Other tenants at the center include BJ’s Wholesale, Dick’s Sporting Goods, DSW, PetSmart, Regal Cinema and Best Buy.

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Investment salesNewsTexas

JLL Arranges Sale of 201,433-Square-Foot Shopping Center in Metro Dallas

by Hayden Spiess

Richardson, Texas — JLL Capital Markets has arranged the sale of Richardson Heights, a 201,433-square-foot shopping center located in Richardson, roughly 15 miles outside Dallas. Constructed in the 1950s, the property was 79 percent leased at the time of sale. Tenants at the center include Alamo Draft House, T.J. Maxx and Half Priced Books. Adam Howells, Chris Gerard, Ben Esterer and Keenan Ryan of JLL represented the seller, Silver Star Properties REIT, in the transaction. JAH Realty acquired the property for an undisclosed price. 

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IllinoisInvestment salesNews

Quantum Arranges $8.5 Million Sale of Retail Center in St. Charles, Illinois

by Hayden Spiess

St. Charles, Ill. — Quantum Real Estate Advisors Inc. has arranged the $8.5 million sale of a 47,000-square-foot retail center in St. Charles, approximately 40 miles west of Chicago. At the time of sale, the property was 97 percent leased to tenants including Syrup, Consume Cannabis, CD One Price and La Huerta Market. Brett Berlin of Quantum represented the seller, an Illinois-based developer. A private group of investors based in Illinois and New Jersey acquired the center.

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Grocery-anchoredInvestment salesNew JerseyNews

Legacy Brokers $4 Million Sale of Shopping Center in Metro Philadelphia

by Hayden Spiess

Willingboro, N.J. — Legacy Realty Group Advisors has brokered the $4 million sale of Kennedy Plaza, a shopping center located in Willingboro, roughly 20 miles outside Philadelphia. A grocery store anchors the property, which totals 58,900 square feet. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented the buyer in the transaction. Blaine Foreman of Metro Commercial represented the seller. 

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