Belmont, N.C. —Foundry Commercial has purchased Shopton Square, a 24,250-square-foot shopping center in Belmont, a southern suburb of Charlotte. The property was fully leased to 13 tenants at the time of sale. Shopton Square was originally developed and leased by the real estate arm of grocer Food Lion. The acquisition of the center marks the first for Foundry Commercial’s Retail Investment Platform, which was launched last year and prioritizes necessity-based retail properties.
Homewood, Ill. — Marcus & Millichap has arranged the sale of an 11,772-square-foot retail building located in the Chicago suburb of Homewood. U.S. Bank anchors the property. Austin Weisenbeck, Sean Sharko and Adrian Mendoza of Marcus & Millichap represented the seller, a limited liability company. The trio also secured and represented the all-cash buyer, a limited liability company.
Coos Bay, Ore. — AlpHubbard LLC has acquired a restaurant building located in Coos Bay for $1.9 million. Burger King occupies the 2,824-square-foot freestanding drive-thru property, which was constructed in 1992. Todd VanDomelen and Mike Brown of Norris & Steven Inc. represented the buyer, and Clayton Brown of Marcus & Millichap represented the seller, Ternik LLC.
Desert Hot Springs, Calif. — Progressive Real Estate Partners has arranged the sale of a retail property located in Desert Hot Springs, in the Coachella Valley. Totaling 33,004 square feet, the property features a multi-tenant building and two pad buildings, one of which is occupied by Chase Bank. A private investor acquired the property for $6.1 million in an all-cash transaction. Greg Bedell of Progressive Real Estate Partners represented the seller, and Heather Sharp of Progressive Real Estate Partners procured the buyer.
Braselton, Ga. — Branch Properties has acquired a site in Braselton for the development of Braselton Village, a 70,987-square-foot retail center. A 48,387-square-foot Publix will anchor the 20-acre development. The center will also feature five outparcels ranging from one to two acres. Completion is scheduled for the second quarter of 2025.
White Plains, N.Y. — Apple Cinemas has signed an 80,000-square-foot lease at City Center in White Plains. The theater will offer stadium recliner seats, digital projection and sound and food-and-beverage options including burger concept BurgerFi. Don Mace of KeyPoint Partners represented the tenant in the lease negotiations.
Haymarket, Va. — Three new tenants have signed leases at Haymarket Village Center, a 256,856-square-foot retail center located in Haymarket, roughly 38 miles west of Washington, D.C. The leasing deals with Cin Dental (1,824 square feet), Nova Patient Care (1,600 square feet), and BeBop (1,575 square feet) bring the retail center to full occupancy. First National Realty Partners (FNRP) is the landlord. FNRP has also secured lease renewals with six existing tenants, including Divine Nail Spa, Jersey Mike’s Subs, Starbucks Coffee, Smoothie King, Sports Clips and Verizon.
Charleston, S.C. — BODYROK has signed a lease to open a 1,800-square-foot fitness studio at Morrison Yard, a mixed-use development currently underway in Charleston. Scheduled to open this summer, this marks the 14th franchise location for the brand. The studio will offer classes featuring a fusion of Pilates, cardio and strength training. Woodfield Development is the developer and landlord of Morrison Yard, which will feature over 37,000 square feet of retail space upon completion, in addition to apartment units, office space, a hotel, public space and an event venue. Hill Partners …
Philadelphia — PREIT Realty has completed a financial and corporate restructuring. This marks the company’s emergence from bankruptcy — it initially filed for Chapter 11 bankruptcy protection in December 2023, with the company’s creditors agreeing to a “prepackaged” bankruptcy. The Philadelphia-based company owns and operates malls in New Jersey, Pennsylvania, Massachusetts, Maryland, Virginia, Michigan, North Carolina and South Carolina, in addition to properties in the multifamily, hotel and healthcare sectors. PREIT reduced its total debt by roughly $835 million through a previously announced reorganization plan and received commitments of approximately $130 …
Scottsdale, Ariz. — Ziff Real Estate Partners (ZRP) has acquired Mercado at Scottsdale Ranch, a 118,751-square-foot retail center located in the Phoenix suburb of Scottsdale. Whitestone REIT sold the property for $26.5 million. Tenants at the center, which is situated on 11 acres, include Planet Fitness and Walgreens. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in the transaction, and Christian Chamblee and Kayla Meier represented ZRP on an internal basis. This marks ZRP’s first purchase in Arizona.
