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.
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.
Beverly Hills, Calif. — Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, has brokered the $12.5 million sale of Beverly Palm Plaza, a shopping center located in Beverly Hills. The 11,484-square-foot property was fully leased at the time of sale. Tenants at the center include Supercuts, Domino’s Pizza, Sushi Sasabune, Bodhi Thai, Crazy Fish, Traveling Tikes and Zeglio Custom Clothier. Ed Sachse, Kyle Fishburn and Jack Nathan of Kennedy Wilson Brokerage represented the seller, DSC America Inc., in the transaction.
Yakima, Wash. — Gantry has secured a $10 million permanent loan for the refinancing of Nob Hill Shopping Center, a retail center located in Yakima. Safeway anchors the property, which comprises 88,500 square feet. Tony Kaufmann and Erinn Cooke of Gantry arranged the 30-year, fixed-rate financing through a life insurance company on behalf of the borrower.
Clinton Township, Mich. — Restaurant Andiamo Pasta & Chops has signed a 7,670-square-foot lease at The Mall at Partridge Creek, a 640,000-square-foot shopping center located in Clinton Township, roughly 25 miles outside Detroit. Scheduled to open this summer, the eatery will mark the first for the concept in the state. Spinoso Real Estate Group manages the shopping center, which is anchored by MJR Theaters. Powerhouse Gym is also scheduled to join the property as an anchor tenant in 2025.
Oxnard, Calif. — Primestor Development has acquired Esplanade Shopping Center, a 357,000-square-foot retail center located in Oxnard, for $90 million. The Home Depot, Nordstrom Rack, Staples, Dick’s Sporting Goods, T.J. Maxx and Walmart Neighborhood Market anchor the property, which was 94 percent occupied at the time of sale. Other tenants at the center include Cost Plus World Market, Tilly’s, Boot Barn, In-N-Out Burger and BJ’s Brewery and Restaurant.
Scottsdale, Ariz. — CBRE has arranged the $22.2 million sale of Scottsdale Commons, a 69,482-square-foot shopping center located in Scottsdale, roughly 13 miles outside Phoenix. The property was 95 percent leased at the time of sale, to tenants including Black Rifle Coffee, Mountain View Pharmacy, Rosati’s Pizza, H&R Block, Rusty Nail Butcher, Green Corner Mediterranean, U.S. Egg and Habanero’s Restaurant. Joseph Compagno and Benjamin Farthing of CBRE represented the seller, Trojan Development Associates III in the transaction. Whitestone REIT, which was also represented by Compagno and Farthing, acquired the property.
Park Ridge, Ill. — Mid-America Real Estate Corp. has brokered the sale of Village Green Shopping Center, a 65,038-square-foot retail center located in the Chicago suburb of Park Ridge. The center was 93 percent leased at the time of sale. Tenants at the property include BMO, Lou Malnati’s, Goldfish Swim School, Wheel & Sprocket, Midwest Orthopedics, Westside Children’s Therapy, BFT, FedEx Office and Subway. Ben Wineman and Emily Gadomski of Mid-America arranged the sale on behalf of a private investment group.
San Diego — ULTA Beauty has signed a 12,000-square-foot lease at Rancho San Diego Towne Center, a shopping center located in San Diego. The store, which will be located near Crumbl Cookies and Star Nails, is scheduled to open later this month. Other tenants at the property include Albertsons, Staples, Target and Cold Stone Creamery.
Atlanta — CP Group has rebranded CNN Center, an iconic 1.2 million-square-foot office and retail building in downtown Atlanta, to The Center. The property has served as the headquarters for CNN for over 40 years and also features a large food court on the ground level that connects to State Farm Arena, home arena of the NBA’s Atlanta Hawks. The site also includes the Omni Atlanta Hotel at Centennial Park. CP Group plans to overhaul the former CNN Center to become a hub of world-class retail, dining, content creation and …
