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Tractor Supply
Investment salesLeasingNewsNorth Carolina

SRS Real Estate Brokers $7 Million Sale of Single-Tenant Retail Property in Castle Hayne, North Carolina

by Abby Cox

Castle Hayne, N.C. — SRS Real Estate Partners has brokered the $7 million sale of a newly constructed, single-tenant retail property in Castle Hayne, roughly 11 miles north of Wilmington. The 21,930-square-foot building is occupied by Tractor Supply, which had 14 years remaining on its corporate-guaranteed lease at the time of sale. Calvin Short of SRS represented the seller, a Pinehurst, North Carolina-based developer, in the transaction. Pierce Mayson of Matthews Real Estate Investment Services represented the buyer, an unnamed investor based in Conyers, Georgia, that was completing the second leg …

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317-339 Thacker Ave.
Investment salesNewsVirginia

Marcus & Millichap Negotiates $4.4 Million Sale of 32,023-Square-Foot Retail Center in Covington, Virginia

by Abby Cox

Covington, Va. — Marcus & Millichap has negotiated the $4.4 million sale of a 32,023-square-foot retail center located at 317–339 Thacker Ave. in the Western Virginia city of Covington. The center is shadow anchored by Walmart Supercenter, which has operated at the adjacent site since 2007. Built in 1998 on roughly 4.4 acres, the retail property was 92 percent leased at the time of sale to tenants including Dollar Tree, Cato, Shoe Show and T-Mobile, as well as several restaurants and service-oriented businesses. Zach Taylor and Eric Abbott of Marcus & …

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Bradley Place
Investment salesNewsPower centersTennessee

Atlantic Capital Partners Arranges Sale of Bradley Place in Suburban Chattanooga for $24.5 Million

by Abby Cox

Cleveland, Tenn. — Atlantic Capital Partners, the Capital Markets division of Atlantic Retail, has sold Bradley Place, a 118,082-square-foot power center located in the northeast Chattanooga suburb of Cleveland, for $24.5 million. HomeGoods, T.J. Maxx, PetSmart and Ulta Beauty anchor the property, which was fully leased at the time of sale. A portion of Bradley Square Mall was redeveloped in 2019 to create space to accommodate Bradley Place. Fred Victor, Sam Koonce, Teddy Driscoll and Matt Ericson of Atlantic Capital Partners represented the seller. The buyer was not disclosed.

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Southgate
Grocery-anchoredInvestment salesLouisianaNews

Disney Investment Group Sells 157,818-Square-Foot Shopping Center in Louisiana

by Abby Cox

Lake Charles, La. — Disney Investment Group (DIG) has sold Southgate, a 157,818-square-foot shopping center located in Lake Charles. The center has been anchored by a 37,442-square-foot Market Basket grocery store for nearly 40 years. Additional tenants at the property, which was 90.8 percent leased at the time of sale, include Dollar Tree, Office Depot, Books-A-Million and Oak Street Health. David Disney and Adam Crockett of DIG represented the seller and procured the buyer in the transaction.

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Rosamond Crossing Southeast
DevelopmentNewsTexas

Joint Venture to Develop 950,000-Square-Foot Retail Center in Suburban Dallas

by Abby Cox

Anna, Texas — A joint venture between Charlotte, North Carolina-based Big V Property Group and Texas-based The Seitz Group is developing a 950,000-square-foot two-center retail project in the north Texas region of Collin County. The first of two open-air shopping centers that will be built is Rosamond Crossing Southeast, a 175,300-square-foot development situated in Anna, a suburb of Dallas. Kroger will anchor the center, which is already 70 percent leased. Additional tenants will include Bank of America, Chase Bank, Jimmy John’s and McDonald’s. Permitting has begun and sitework is expected to …

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The Shops at Chestnut Hill
MassachusettsNews

Simon Begins Redevelopment of Shops at Chestnut Hill in Metro Boston

by Abby Cox

Chestnut Hill, Mass. — Simon Property Group has begun the redevelopment of The Shops at Chestnut Hill, a shopping, dining and entertainment destination located roughly six miles west of downtown Boston. The project will include a full repainting of the center’s interiors, the installation of a new lighting system, new artwork and decor throughout the center and an update to the indoor garden area. Simon will also renovate the center’s flooring, facades and restrooms. The majority of the project is expected to be complete by the end of the year. …

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Eden Prairie Center
LeasingMinnesotaNews

Six New Tenants to Join Eden Prairie Center in Metro Minneapolis 

by Abby Cox

Eden Prairie, Minn. — Six new tenants have signed leases to join Eden Prairie Center, a 1.4 million-square-foot shopping center located in the southwest Minneapolis suburb of Eden Prairie. The U.S. Army Career Center, PRVDR and Phenix Salon Suites have already debuted at the property, while Spirit Halloween has also opened at the center for the holiday season. Wings Credit Union is expected to open in October and Umi’s for Men is scheduled to open later this year. Additionally, existing tenant Reborn Salon has expanded its space at Eden Prairie Center. …

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Starbucks Coffee
Company newsNewsWashington

Starbucks to Close Stores, Lay Off Workers in $1 Billion Restructuring Effort

by Abby Cox

Seattle — Starbucks Coffee has announced that it will be eliminating roughly 900 non-retail U.S. jobs, with additional plans to close several hundred underperforming company-operated stores, as part of a broader $1 billion restructuring effort. The company’s store count will decrease by about 1 percent, which translates to roughly 500 closures for the company, as reported by CNBC. Starbucks plans to end its fiscal year with almost 18,300 North American locations, including both company-operated and licensed cafés.  Brian Niccol, chairman and CEO of Starbucks Coffee, stated that baristas from closing locations will receive severance packages or will be …

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West Falls
Mixed-useNewsRestaurantsRetailersVirginia

Hoffman & Associates, Partners Complete 10-Acre West Falls Mixed-Use Development in Metro D.C.

by Abby Cox

Falls Church, Va. — Hoffman & Associates, alongside a group of development partners that includes Rockwood Capital and Grosvenor Americas, has completed West Falls, a 10-acre mixed-use development in Falls Church. The transit-oriented project sits about 10 miles west of Washington, D.C., and is located near the West Falls Church Metro station. Hoffman & Associates, a local developer that is perhaps best known for leading the development of the $3.6 billion Wharf mixed-use waterfront destination in D.C., partnered with the City of Falls Church and Torti Gallas + Partners, to bring the project …

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Park Place Village
Investment salesKansasMixed-useNews

KBS Sells 10-Building Park Place Village Office, Retail Property in Metro Kansas City

by Abby Cox

Leawood, Kan. — KBS has sold Park Place Village, a 10-building, 484,980-square-foot office and retail property in the Kansas City suburb of Leawood. DFW Land was the buyer. Park Place Village was owned by KBS Real Estate Investment Trust III and purchased in 2015. Developed in phases between 2007 and 2013, the property features retail including boutique shops and upscale restaurants. The property was also fully leased at the time of sale. Derek Fohl and Gary Carr of Newmark represented KBS in the sale. Additional team members involved in the transaction …

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