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FinanceFloridaGrocery-anchoredNews

JLL Arranges $47.1 Million Refinancing for 529,212-Square-Foot Retail Center in Metro Orlando

by Hayden Spiess

Kissimmee, Fla. — JLL Capital Markets has arranged a $47.1 million loan for the refinancing of The Crosslands, a 529,212-square-foot retail center in Kissimmee, roughly 20 miles outside Orlando. The borrower is a joint venture between Hampshire Cos., Federated Hermes and O’Connor Capital Partners. The Fresh Market, Burlington, Academy Sports, Hobby Lobby, Marshalls/HomeGoods and Ross Dress for Less anchor the property, which was developed between 2014 and 2016 and fully leased at the time of financing. Jon Mikula, Michael Klein, Brian Gaswirth, Michael Kavaler and Val McWilliams of JLL secured the …

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Target
DevelopmentLeasingNewsUtah

Target to Open 135,000-Square-Foot Store at Provo Towne Centre in Utah

by Hayden Spiess

Provo, Utah — Target has signed a deal to occupy 135,000 square feet of retail space at Provo Towne Centre in Provo. Brixton Capital is currently remodeling the shopping center. The Target will feature a CVS/pharmacy, Starbucks Coffee, Ulta Beauty, Target Optical and an adult beverage department. Roche Construction Mountain West is the general contractor for the Target space, and Big D Construction Mountain West is the general contractor for Provo Towne Centre.

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Madison-Shopping-Center_Madison-Ohio
Investment salesNewsOhio

Marcus & Millichap Brokers Sale of 72,048-Square-Foot Retail Center Near Cleveland, Ohio

by Hayden Spiess

Madison, Ohio — Marcus & Millichap has brokered the sale of Madison Shopping Center, a 72,048-square-foot retail center located in Madison, approximately 40 miles northeast of Cleveland. Tractor Supply Co. and Bealls anchor the property. Other tenants at the center include Goodwill, Snap Fitness, Eagle Financial Services and TNT Tanning. Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the undisclosed Florida-based seller, the original developer of the property, in the transaction. An Ohio-based private investor acquired the property in a 1031 exchange. 

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LeasingMarylandNews

Sprouts Farmers Market to Open 24,942-Square-Foot Store in Metro Washington, D.C.

by Hayden Spiess

Waldorf, Md. — Sprouts Farmers Market will open a 24,942-square-foot store at The Shops at Waldorf Center, a 600,000-square-foot shopping center located in Waldorf, approximately 30 miles outside Washington, D.C. Scheduled to open in fall 2025, the store will be situated near DSW, CAVA, Five Below and Old Navy. Madison Marquette is the landlord of the property, which is managed by Avison Young. 

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Fountain-Oaks_Sandy-Springs
GeorgiaGrocery-anchoredInvestment salesNews

Jamestown Acquires Two Shopping Centers in Metro Atlanta, South Florida

by Hayden Spiess

Sandy Springs, Ga. and Tamarac, Fla. — Jamestown has purchased two grocery-anchored shopping centers totaling roughly 284,000 square feet. The acquired properties include Fountain Oaks — a 160,000-square-foot, Kroger-anchored center in Sandy Springs, Georgia — and Tamarac Town Square, a 124,000-square-foot, Publix-anchored center located in Tamarac, Florida. The properties were 92 percent and 84 percent leased at the time of sale, respectively. Edens sold Fountain Oaks for an undisclosed price, and Regency Centers sold Tamarac Town Square for an undisclosed price. JLL represented both sellers in the transactions. Jamestown plans to …

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La-Canada-Flintridge-Town-Center-LA-CA
CaliforniaFinanceNews

CBRE Arranges $36.4 Million in Financing for La Canada Flintridge Town Center in Los Angeles

by Hayden Spiess

Los Angeles — CBRE has secured $36.4 million in post-acquisition financing for the recapitalization of the purchase of La Canada Flintridge Town Center in Los Angeles. Target anchors the 115,939-square-foot property, which was 96.7 percent occupied at the time of financing. Other tenants at the center include HomeGoods, Panera Bread, Habit Burger and Taylor’s. Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE arranged the seven-year, full-term interest-only loan on behalf of the borrower, TRC.

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Independence-Square_Mount-Airy
Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Realty Brokers Sale of 63,507-Square-Foot Shopping Center in North Carolina

by Hayden Spiess

Mount Airy, N.C. — Legacy Realty Group Advisors has brokered the sale of Independence Square, a 63,507-square-foot shopping center located in Mount Airy. The property was 97 percent leased at the time of sale, to tenants including Ollie’s Bargain Outlet, Dollar General and USPS. Jacob Baruch of Legacy Realty Group represented the seller in the transaction, and Kevin Henry of Pine Forest Oak Island Realty represented the buyer. 

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CaliforniaLeasingNews

Bath & Body Works to Open 4,260-Square-Foot Store in Petaluma, California

by Hayden Spiess

Petaluma, Calif. — Bath & Body Works will open a 4,260-square-foot store at East Washington Place, a 343,000-square-foot shopping center located in Petaluma. Scheduled to open April 12, the store will be situated next to BevMo! Other tenants at the property include Dick’s Sporting Goods, Chipotle Mexican Grill, HomeGoods, PetSmart, Ulta Beauty, Target and T.J.Maxx. 

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JCPenney
ColoradoFloridaGeorgiaInvestment salesNewsTexas

Partners Real Estate Arranges Sale of Three JCPenney Properties Totaling 302,161 Square Feet

by Hayden Spiess

Houston — Houston-based Partners Real Estate has arranged the sale of three JCPenney-occupied retail properties totaling 302,161 square feet. The stores are located in Newnan, Georgia; Kissimmee, Florida; and Aurora, Colorado. Dimitri Jordan of Partners represented the buyer in the transaction. 

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Investment salesMinnesotaNews

Mid-America Arranges Sale of 97,210-Square-Foot Retail Center in Minneapolis-St. Paul Suburb

by Hayden Spiess

Burnsville, Minn. — Mid-America Real Estate Corp. has arranged the sale of Burnsville Crossing, a 97,210-square-foot retail center located in Burnsville, a suburb of Minneapolis and St. Paul. Becker Furniture and Mattress anchors the property. Joe Girardi, Rick Drogosz and Ben Wineman of Mid-America — in cooperation with Amy Senn of Mid-America — represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. HBI Cos. acquired the center for an undisclosed price. 

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