Vacaville, Calif. — NewMark Merrill has been named the manager of Nut Tree Plaza (The Nut Tree), a 372,225-square-foot retail center located in Vacaville. Originally established in 1921 as a roadside fruit stand, the property is leased to tenants including PetSmart, Nordstrom Rack, Kirkland’s, Ulta Beauty, Old Navy, Michaels and HomeGoods. NewMark Merrill’s portfolio now includes more than 100 shopping centers owned and/or managed by the company throughout the country.
Wathena, Kan. — The Boulder Group has arranged the $1.8 million sale of a 10,566-square-foot single-tenant property in Wathena, a city in northeast Kansas. Dollar General occupies the building on a net-lease basis. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Dollar General developer.
Alexandria, Va. — JBG Smith has announced the cancellation of Potomac Yards, an entertainment district project that would have comprised 9 million square feet within the National Landing neighborhood in Alexandria, roughly eight miles south of Washington, D.C. A partnership between the developer and Monumental Sports & Entertainment (MSE) first proposed the development — which would have been anchored by a new arena for the NHL’s Washington Capitals and NBA’s Washington Wizards — in December of last year. Completion of the project, including a global corporate headquarters for MSE, a media …
Flemington, N.J. — Marcus & Millichap has arranged the $6.2 million sale of The Shoppes at Flemington, a 130,613-square-foot shopping center in Central New Jersey. HomeGoods and Ulta Beauty anchor the property, which was leased to 26 tenants at the time of sale. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction.
Placentia, Calif. — NewMark Merrill Cos. has acquired a 28,000-square-foot single-tenant property located within Placentia Town Center, a 142,666-square-foot shopping center in Placentia. CVS/pharmacy occupies the building. NewMark Merrill now owns the entirety of the shopping center. Other tenants at the center include Marshalls, Ross Dress for Less, Massage Envy, Philly’s Best, KC Nails, Avalon Bagels, Courtesy Cleaners, Mr. D’s Diner & Bar, Uptown Cheapskate and Beauty Avenue. Greg Giacopuzzi of NewMark Merrill, with Tony Veiller of Pegasus Investments, represented NewMark Merrill in the transaction.
Houston and Carrollton, Texas — Restaurant group Shoo Loong Kan has signed two leases in Texas, marking the first locations in the state for the group. Plans include a 6,213-square-foot restaurant at West on West in Houston, as well as a 6,330-square-foot restaurant in Carrollton. NewQuest Properties owns both properties. Michael Pittman II, Michael Burgower and Rachel Granstrom of Cushman & Wakefield represented the tenant in the lease negotiations.
Toledo, Ohio — SRS Real Estate Partners has arranged the $11.9 million sale of Airport Square, a 187,252-square-foot shopping center located in Toledo. Situated on approximately 23 acres, the property was 99 percent occupied at the time of sale. Tenants at the center include Urban Air Adventure Park, Discount Fashion Warehouse, American Freight and DaVita Healthcare. Urban Air recently signed a 10-year lease at the center. Jack Cornell, Matthew Mousavi and Patrick Luther of SRS, along with Mac Lehrer of Hoty Enterprises, represented the seller, Oklahoma City-based Frayer Properties. SRS also …
Birmingham, Ala. — Cove Capital Investments has acquired Eastwood Village, a 130,056-square-foot retail center located in Birmingham. Tenants at the property, which was 96 percent occupied at the time of sale, include Ross Dress for Less, Five Below, Office Depot, Michaels, Party City and Starbucks Coffee. The acquisition marks the newest addition to Cove Capital’s DST portfolio, which includes 89 properties totaling 2.1 million square feet throughout the country.
Tustin, Calif. — JLL Capital Markets has brokered the $6.3 million sale of Newport and Walnut Center, a retail center located in Tustin. The property, which was fully leased at the time of sale, totals 9,624 square feet. Tenants at the center include HiroNori Craft Ramen, Crown Beauty, Studio 18 Nail Bar and Moon Lash Beauty. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented both the seller and buyer in the transaction. World Premier Investments acquired the property for an undisclosed price.
Boston — Mark Taylor has joined Boston-headquartered Horvath & Tremblay as an executive vice president. Taylor’s experience includes 35 years in commercial real estate brokerage, including previously serving as senior managing director of investments at a national firm. He has brokered over $3.5 billion in investment sales across 42 states.
