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ArizonaInvestment salesNews

Kidder Mathews Brokers $12.5 Million Sale of Retail Center Near Phoenix

by Hayden Spiess

Chandler, Ariz. — Kidder Mathews has brokered the $12.5 million sale of Sun Village Fair, a retail center located in Chandler, roughly 20 miles outside Phoenix. Sun Village Fair comprises 189,022 square feet of existing retail space, as well as roughly six acres available for pad development. Additionally, the site features a Walmart, First Bank and Wendy’s, which were not included in the sale. Darren Tappen, Nathan Thinnes, Pete Beauchamp, Trask Switzenberg and Matthew Ault of Kidder Mathews represented the seller, LNR Partners, in coordination with Trevor Koskovich of Northmarq and …

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Best-Buy
IndianaInvestment salesNet leaseNews

Boulder Group Arranges $9.6 Million Sale of Best Buy-Occupied Property in Indiana 

by Hayden Spiess

Mishawaka, Ind. — The Boulder Group has arranged the $9.6 million sale of a single-tenant retail property located in Mishawaka. Best Buy occupies the 50,327-square-foot building on a net lease. Nearby tenants include Target, Apple, Macy’s, Menards, Ross Dress for Less, Walmart, Sam’s Club, The Home Depot, Aldi, Meijer and Costco. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a West Coast-based partnership. 

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Company newsNewsRestaurantsTexas

Johnny Rockets to Open 20 New Texas Restaurants Over Next Decade

by Hayden Spiess

Los Angeles — FAT (Fresh. Authentic. Tasty.) Brands Inc., the Los Angeles-based parent company of 17 restaurant concepts, has signed a new development deal to open 20 new Johnny Rockets restaurants across Texas over the next 10 years. The new locations will open in partnership with Brame Holdings LLC, a San Antonio-based private investment company with a portfolio of franchised restaurants and automotive stores. The first of the restaurants is scheduled to open this year. 

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Freeport-Village-Station
Investment salesMaineNews

Wilder Cos. Acquires 122,121-Square-Foot Shopping Center in Freeport, Maine

by Hayden Spiess

Freeport, Maine — Retail owner-operator Wilder Cos. has acquired Freeport Village Station, a 122,121-square-foot shopping center located in Freeport, roughly 20 miles outside Portland. L.L. Bean anchors the 3.6-acre property, which is situated across from the brand’s flagship campus. Other tenants at the center include Brooks Brothers, Old Navy, Coach, Famous Footwear, Lindt, Oakley, OshKosh B’gosh and Carter’s, Sunglasses Hut, Talbots, Sketchers and Francesca’s. 

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Foodland_Rogersville-Ala
AlabamaInvestment salesNet leaseNews

Legacy Arranges Sale of 24,000-Square-Foot Single-Tenant Property in Alabama

by Hayden Spiess

Rogersville, Ala. — Legacy Realty Group Advisors has arranged the sale of a single-tenant property located in Rogersville. Foodland occupies the building, which features 24,000 square feet, on a net-lease basis. Jacob Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction. 

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GeorgiaInvestment salesNews

Marcus & Millichap Brokers $7.5 Million Sale of Shopping Center in Monroe, Georgia

by Hayden Spiess

Monroe, Ga. — Marcus & Millichap has brokered the $7.5 million sale of Paradise Shoppes, a 23,500-square-foot retail center located in Monroe, roughly 44 miles east of Atlanta. An unnamed private equity firm based in Tulsa purchased the shopping center in an all-cash transaction from the seller, a private equity partnership. Marc Irvin of Marcus & Millichap’s Atlanta office represented the seller in the transaction. Paradise Shoppes comprises two separate parcels, with one featuring a 5,300-square-foot building anchored by Truist Bank and Moe’s Southwest Grill. The other parcel comprises an 18,200-square-foot …

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CaliforniaFinanceNews

PSRS Secures $3.7 Million Loan for Pointe West Plaza in San Ramon, California

by Hayden Spiess

San Ramon, Calif. — PSRS has secured a $3.7 million loan for the permanent financing of Pointe West Plaza, a retail property located in San Ramon. The property is a 16,921-square-foot building leased to tenants including a billiards venue, salon, bistro and Chinese restaurant. Jonny Soleimani and Matthew Farzinpour of PSRS secured the five-year financing, which features a 25-year amortization schedule, through a correspondent life insurance company. The firm previously arranged bridge acquisition financing for the property.

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LeasingNew YorkNews

Hobby Lobby Opens 42,000-Square-Foot Store in New York City

by Hayden Spiess

New York City — Hobby Lobby has opened a 42,000-square-foot store on Staten Island in New York City. This marks the first location in the city for the brand, which has a portfolio of more than 1,000 stores throughout the US. Brian Katz and Daniel D. DePasquale of Katz & Associates represented Hobby Lobby with Graeme Keith of The Keith Group in the lease negotiations. Brookfield Properties is the landlord. 

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Company newsNewsVirginia

Dollar Tree to Close 1,000 Stores Nationwide

by Hayden Spiess

Chesapeake, Va. — In its fourth-quarter fiscal 2023 results released today, Dollar Tree Inc. (NASDAQ: DLTR) announced that it plans to close approximately 970 underperforming Family Dollar stores. In addition, Chesapeake-based Dollar Tree identified approximately 30 underperforming Dollar Tree stores for closure. Roughly 600 Family Dollar stores are slated to close in the first half of fiscal 2024, with about 370 Family Dollar locations and the 30 Dollar Tree locations set for closure at the end of each store’s current lease term. Years of mismanagement and poor conditions in stores have …

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