Owensboro, Ky. — Marcus & Millichap has arranged the sale of a single-tenant 2,584-square-foot property located in Owensboro. Dan Yozwiak and Darpan Patel represented the undisclosed buyer in the $2.5 million transaction. Freddy’s Frozen Custard & Steakburgers occupies the property, which was renovated in 2018, on a net-lease basis and recently committed to a 15-year lease with renewal options. Colby Haugness, Kentucky broker of record, assisted in closing the sale.
Louisville, Ky. — Publix Super Markets has purchased land at the northwest corner of Flat Rock and Shelbyville roads in Louisville with plans to develop the market’s third Publix location. The Courier-Journalreports that the grocer purchased the site from an entity doing business as Shoppes at Gardiner Park LLC for more than $5.5 million. Plans call for a 48,387-square-foot store with a pharmacy and an adjacent Publix Liquors store that will offer beer, wine and spirits. The stores are anticipated to open in the second quarter of 2024. In addition …
Bardstown, Ky. — Northmarq’s Louisville office has secured a $3 million refinancing of Wilson & Muir Plaza, a 63,598-square-foot retail center located at 100 West John Rowan Boulevard in Bardstown, roughly 40 miles southeast of Louisville. Randall Waddell of Northmarq negotiated a blended interest rate of 4.9 percent fixed over a 10-year term on behalf of the undisclosed borrower. A new anchor tenant — Marshall’s — recently opened at the property.
Lexington, Ky. — Cronheim Mortgage has originated an $8 million permanent loan for Man O’ War Place, a 174,638-square-foot shopping center in Lexington. Dev Morris and Andrew Stewart of Cronheim arranged the financing through American United Life Insurance Co. on behalf of the borrower, an affiliate of Equity Management. Situated about four miles south of the University of Kentucky, Man O’ War Place was 95 percent leased at the time of sale to tenants including Kroger Marketplace, Feeders Supply, Lexington Urgent Care, Hooters, Edible Arrangements, Bright Tiger Dental, The Little …
Newport, Ky. — North American Properties (NAP) has partnered with Galley Group, a Pittsburgh-based food hall operator, to open a new food hall and bar at Newport on the Levee, a mixed-use destination along the Ohio River in Newport. The 7,900-square-foot venue, dubbed The Galley on the Levee, will feature four restaurants and a signature bar that will be able to accommodate 200 patrons. Designed by Reztark Design Studio, the food hall will open onto Bridgeview Box Park, an open-air shipping container park that opened in 2020 as part of …
Hopkinsville, Ky. — Berkeley Capital Advisors has arranged the sale of Park Plaza, a 116,611-square-foot retail center located in Hopkinsville, in the southwest part of the state. Park Plaza was 98 percent leased at the time of sale to tenants including Big Lots, Planet Fitness and Dollar General. Addison Montague, Rad von Werssowetz and Morgan Hall of Berkeley represented the undisclosed sellers in the transaction.
Hopkinsville, Ky. — Fimiani Development Corp. has acquired Pennyrile Marketplace, an 85,000-square-foot shopping center located at 3010 Fort Campbell Blvd. in Hopkinsville. Seritage KMT Finance sold the property for $3.8 million. Built in 1978, Pennyrile Marketplace sits on 12 acres near the Fort Campbell Army base and houses tenants including Harbor Freight Tools, Bargain Hunt and Farmers Home Furniture. Mike Fimiani represented the buyer in the transaction on an internal basis, and Marc Ozburn and Ross Robison of Berkeley Capital Advisors represented the seller. Fimiani Development plans to make renovations …
Newport, Ky. — BC Wood Properties has purchased two retail centers in Newport, a suburb of Cincinnati. The adjacent assets, Newport Shopping Center and Newport Plaza, total 429,399 square feet. Newport Shopping Center’s tenant roster includes Newport Racing & Gaming, Crunch Fitness, Family Dollar, Dollar General, Cricket Wireless, H&R Block and GNC. Newport Plaza’s tenants include Fresh Thyme, Planet Fitness, Ace Hardware and Dollar Tree. Both centers also house several locally based stores and restaurants. BC Wood acquired the centers via its investment vehicle BC Wood Real Estate Fund III. The …
Georgetown, Ky. — Stan Johnson Co. has arranged the $15 million sale of Washington Square, a 122,554-square-foot shopping center located at 1002 Lexington Road in Georgetown. Ryan Roedersheimer of Stan Johnson Co.’s Cincinnati office represented the seller, a Lexington-based investment firm, in the transaction. The buyer is a private investment firm based in Austin. Washington Square was built in 1972 and is situated on a heavily trafficked corner spanning 13.9 acres about 10 miles north of Lexington. The property was fully leased at the time of sale to tenants including anchor …
Morgantown, Ky. — Newmark has arranged the $1.4 million sale of a single-tenant retail property leased to Advance Auto Parts in Morgantown. The 6,895-square-foot building was acquired by a private 1031 investor. Matt Berres, Samer Khalil and Karick Brown of Newmark’s Irvine, California, office represented the seller, an undisclosed private developer, and procured the buyer in cooperation with Newmark’s Joseph Steffner.
