Pittsburgh — Pittsburgh-based DICK’S Sporting Goods has completed its $2.4 billion acquisition of Foot Locker. With the merger, DICK’S will now operate more than 3,200 stores across 20 countries, while maintaining Foot Locker’s portfolio of brands including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos. The transaction is expected to generate $100 million to $125 million in cost synergies and become earnings per share accretive in the company’s 2026 fiscal year. Goldman Sachs served as financial advisor to DICK’S for this transaction, and Wachtell, Lipton, Rosen & Katz served as DICK’S …
Duluth, Ga. — The Urban Redevelopment Agency of Gwinnett County has approved the purchase of a former Sears department store at Gwinnett Place Mall, a struggling regional mall situated along Pleasant Hill Road near Interstate 85 in metro Atlanta. Northwood Ravin will sell the 11.5-acre site to the county for $11.5 million, the same price the Charlotte-based multifamily developer paid for the property in 2018. With the Sears acquisition, Gwinnett County now owns a combined 87.5 acres at Gwinnett Place Mall. Plans for the mall redevelopment include a mixed-use destination …
Signal Hill, Calif. — Marcus & Millichap has arranged the $6.2 million sale of the Signal Hill Gateway Center, a four-tenant retail pad located in Signal Hill, just north of Long Beach. Tenants at the property, which was fully leased at the time of sale, include Starbucks Coffee, Dollar Tree, Chipotle Mexican Grill, Milano Nail Lounge and a Bank of America ATM. Built in 2015 on 1.2 acres, the retail pad comprises 6,535 square feet of gross leasable space. Sheila Alimadadian of Marcus & Millichap represented the seller, Khouraki Corp. …
Fullerton, Calif. — Shopoff Realty Investments has sold the last remaining retail parcel at Sunrise Village, a 14-acre neighborhood shopping center located in the Orange County city of Fullerton, for $2.5 million. The recently sold property totals nearly half an acre and houses a veterinary clinic. The unused space at the parcel will be transformed into a fast-casual Korean restaurant. The remaining retail parcels at the property were previously sold to separate owners. The first parcel sale included a 1.4-acre corner retail space, which featured a drive-thru Del Taco and …
Murfreesboro, Tenn. — Avison Young has arranged the $7.8 million sale of a newly constructed property occupied by Trader Joe’s in Murfreesboro, roughly 35 miles southeast of Nashville. The 13,050-square-foot grocery store is situated on 2.3 acres and opened earlier this year. Jordan Powell, Lisa Maki and Mike Jacobs of Avison Young represented the locally based seller, TDK Corp. Trader Joe’s acquired the property by exercising its right of first refusal. Founded in 1967, Monrovia, California-based Trader Joe’s operates 608 stores across 43 states.
Acworth, Ga. — Marcus & Millichap has brokered the $2.7 million sale of a newly built, single-tenant retail property located in Acworth, a northwest suburb of Atlanta. Whataburger occupies the 3,318-square-foot freestanding restaurant, which features a double drive-thru, on a 15-year corporate ground lease. Don McMinn and Andrew Koriwchak of Marcus & Millichap represented the seller, an unnamed developer based in Georgia, in the transaction. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap procured the unnamed buyer. The Whataburger restaurant was delivered in April and is adjacent to …
Fort Wayne, Ind. — Mid-America Real Estate Corp. has brokered the sale of Covington Plaza, a 182,051-square-foot community center located in Fort Wayne. The center is anchored by The Fresh Market and features a mix of additional tenants including Pet Supplies Plus, Tequila Mexican Cantina, Cap n’ Cork, Christopher James Menswear and Catablu Grille. Ben Wineman, Joe Girardi, Rick Drogosz and Eric Geskermann of Mid-America represented the seller, Broad Reach Retail Partners, in the transaction. The buyer was Charleston, South Carolina-based Ziff Real Estate Partners.
Rolesville, N.C. — Chapel Hill, North Carolina-based Prudent Growth Partners has sold Rolesville Town Center, a 19,500-square-foot neighborhood shopping center located in Rolesville, a suburb of Raleigh. The property sold for $4.5 million. Tenants at the center include Megan Nails, Kruse Chiropractic, Black & White Coffee Roasters, Pizza Hut and Rolesville Equipment Co. Additional details of the transaction were not disclosed. Prudent originally purchased Rolesville Town Center in September 2021 for $3.1 million.
Aurora, Ill. — Locally based Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of Eola Crossing, a 14,238-square-foot retail center located in Aurora, roughly 40 miles west of Chicago. At the time of sale, the property was 90 percent leased to tenants such as Subway, Dunkin’, Wing Snob and Smile Family Dental. Dan Waszak and Brett Berlin of Quantum represented the seller, a Florida-based public REIT. The buyer was an Illinois-based private investor.
San Diego — JLL Capital Markets has arranged the $34.9 million sale and financing of The Headquarters, a 73,823-square-foot open-air shopping center in San Diego’s Marina District at the entrance to Seaport Village. A private real estate investment firm sold the property to a private real estate partnership. The Headquarters, formerly the San Diego Police headquarters complex, was completely repositioned in 2013 and features a mix of food and beverage, daily needs and apparel tenants. The property was 83.3 percent leased at the time of sale. Current tenants include Eddie …