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ArizonaInvestment salesNews

Western Retail Advisors Brokers $11.1 Million Sale of Retail Center in Phoenix Suburb

by Hayden Spiess

Peoria, Ariz. —Western Retail Advisors has brokered the $11.1 million sale of 83 Marketplace, a newly built retail center located in Peoria, a suburb northwest of Phoenix. A franchisee of Hawaii-based Seven Brothers Burgers acquired the property. Developed by Scottsdale-based Cavan Cos., the center totals 19,800 square feet across three buildings. The buyer plans to open a Seven Brothers restaurant at the property. Other tenants at the center include Bourbon & Bones, The Stetson Social, F45 Training, Herbal Nail Bar, Salon Blissful and Heartland Dental. Brian Gausden and Jake McClaughry of …

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South-Lake-Marketplace_Bowie-Md
DevelopmentGrocery-anchoredMarylandMixed-useNews

NAI Michael Cos. to Develop 600,000-Square-Foot Mixed-Use Project in Bowie, Maryland

by Hayden Spiess

Bowie, Md. — NAI Michael Cos. will develop South Lake Marketplace, a 600,000-square-foot mixed-use project within the $1.3 billion South Lake development underway in Bowie. Karington LLC, an affiliate of NAI Michael Cos., owns South Lake, which also features residential units being developed by Chesapeake Realty Partners. A grocer will anchor the Marketplace property, which will also feature other retail, restaurant, sports entertainment and hospitality concepts. The development will be situated adjacent to Liberty Sports Park, which features 10 professional sports fields and attracts 344,000 tournament attendees annually, according to NAI …

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Marketplace-at-Six-Corners
Grocery-anchoredIllinoisInvestment salesNews

Mid-America Arranges Sale of 116,941-Square-Foot Retail Center in Chicago

by Hayden Spiess

Chicago — Mid-America Real Estate Corp. has arranged the sale of Marketplace at Six Corners, a 116,941-square-foot shopping center in Chicago. Newmark Merrill purchased the asset for an undisclosed price. Anchor tenants at the property include Jewel-Osco, Marshalls, PetSmart and Famous Footwear. Rick Drogosz of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Pine Tree managed the center on behalf of the seller at the time of sale. 

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DevelopmentFloridaGrocery-anchoredLeasingMixed-useNews

Publix Opens 48,000-Square-Foot Store in Sarasota, Florida

by Hayden Spiess

Sarasota, Fla. — Publix Super Markets has opened a 48,000-square-foot grocery store at Fruitville Farms, a mixed-use development currently underway in Sarasota. Benderson Development is the master developer of the public-private partnership, which will feature 150,000 square feet of retail and restaurants, in addition to 600 apartments and a new 120,000-square-foot Sarasota County Administration Center. Publix is the first tenant to open at the shopping center within Fruitville Farms.

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Saluhall_San-Francisco
CaliforniaNewsRestaurants

Ingka Centres Opens 23,000-Square-Foot Food Hall in San Francisco

by Hayden Spiess

San Francisco — Ingka Centres has opened a 23,000-square-foot food hall at Meeting Place in San Francisco, a 256,000-square-foot IKEA-anchored shopping center owned by the company. Vendors at the food hall, dubbed Saluhall, include Taqueria La Venganza, MOMO Noodle, KAYMA Algerian Eater, Curry Up Now and Casa Boriqueña. KERB will operate the venue, which features a focus on plant-forward cuisine. 

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LeasingNewsPennsylvaniaRestaurants

Five Guys to Open 2,407-Square-Foot Restaurant at Promenade Saucon Valley in Pennsylvania

by Hayden Spiess

Center Valley, Pa. — Five Guys Burgers & Fries will open a 2,407-square-foot restaurant at Promenade Saucon Valley — formerly known as The Promenade Shops at Saucon Valley — in Center Valley. Scheduled to open this fall, the store will be situated between tenants European Wax Center and uBreakiFix. Five Guys’ portfolio currently includes more than 1,700 restaurants globally. 

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Highlands-at-Thornton-CO
ColoradoDevelopmentMixed-useNews

TM Crowley, NLGCM Plan 23-Acre Mixed-Use Project in Colorado

by Hayden Spiess

Thornton, Colo. —TM Crowley & Associates has partnered with NLG Capital Management (NLGCM), a division of The Net Lease Group, to develop The Highlands at Thornton, a 23-acre mixed-use property in Thornton. Upon completion, the project will feature more than 101,925 square feet of retail, commercial and medical office space. CVS Caremark will anchor the development. Lisa Vela and Jay Landt of Colliers will manage leasing at the property.

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The-Crosslands_Kissimmee-Fla
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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