Berkeley Heights, N.J. — The Connell Co. will open a 25,000-square-foot fitness facility at The Park, the locally based developer’s 185-acre mixed-use redevelopment in the Northern New Jersey community of Berkeley Heights. The facility will be known as FIELDHOUSE and will offer fitness regimens such as Pilates, yoga and boxing. Members will also have access to a game room, a meditation room, nap and recovery rooms, a health bar and personal trainers and in-house nutritionists. The opening is scheduled for March.
Merrimack, N.H. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of Merrimack Village Center, an 82,292-square-foot retail center located in Merrimack, roughly 50 miles northwest of Boston. An entity doing business as Merrimack Village Center LLC acquired the property for $16.6 million. Shaw’s anchors the center, which was constructed on 10 acres in 2006. Other tenants include Dental Designs of New England, KT Cleaners, Sweet Ginger, Pizzico, Subway, Hana, Bliss Nail Salon, Smoker’s Haven and Supercuts. The property was 99 percent occupied at the time of sale. …
Tucson, Ariz. — JLL Capital Markets has brokered the $27.5 million sale of Rillito Crossing, a 96,424-square-foot retail center located in Tucson. Prairie Hill Holdings acquired the center from Epic Real Estate Partners and Centerbridge. Developed in 2008, the property was 96 percent leased at the time of sale. Sprouts Farmers Market, which recently completed a $1.2 million interior remodel, anchors the center. Other tenants include Sola Salons, LA Fitness, Adrian’s Barbershop, Smoothie Factor, JK Nails, The Joint Chiropractic, The Tea Hub, Dao’s Tai Pan’s and Rita’s Italian Ice Custard. Two …
Peachtree City, Ga. — Nuveen Real Estate has acquired Peachtree Crossing, an 80,748-square-foot shopping center located in Peachtree City, roughly 30 miles outside Atlanta. Harbour Real Estate Partners sold the property for an undisclosed price. Built in 1978 and renovated in 2011, the Fresh Market-anchored center was fully leased at the time of sale. Tenants at the property include Peachtree City Eye Center, Bintelli Golf Carts, Heirloom Market, Mina’s Hallmark, Hollywood Feed, Campanile’s Home Inside & Out, Georgia Shrimp Co. and W. Daly Salon. Brad Buchanan, Jim Hamilton and Andrew Michols …
Philadelphia — Dave’s Hot Chicken will open three restaurants at Federal Realty Investment Trust properties throughout metro Philadelphia. Scheduled to open this month, the first store will occupy 2,995 square feet at Northeast Shopping Center in Philadelphia. Dave’s will also open restaurants at Ellisburg Shopping Center and Willow Grove Shopping Center in the spring and fall of this year, leasing 3,086 and 2,825 square feet at the properties, respectively. Ellisburg Shopping Center is located in Cherry Hill, New Jersey, and Willow Grove Shopping Center is located in Willow Grove, Pennsylvania.
Center Valley, Penn. — J.Crew Factory has signed a 5,094-square-foot lease at The Promenade Shops at Saucon Valley, an open-air shopping center located in Center Valley. Scheduled to open this spring, the store will be situated between Francesca’s and Barnes & Noble. Other tenants at the property include Club Champion, Handmade Mystic, FD Market and Turning Point.
Toronto and Syracuse, N.Y. — Toronto-based Restaurant Brands International Inc. (RBI) has agreed to acquire Syracuse-based Carrols Restaurant Group Inc. for $1 billion. RBI (NYSE: QSR) owns the Burger King, Popeyes, Firehouse Subs and Tim Hortons brands. Carrols (NASDAQ: TAST) is the largest Burger King franchisee in the United States, operating 1,022 locations in 23 states. Burger King says the transaction is part of its “Reclaim the Flame” plan to accelerate sales growth and drive franchisee profitability. The transaction follows the brand’s initial $400 million investment announced in September 2022 to …
Sarasota, Fla. — Colliers has arranged the $30.5 million sale of Glengary Shoppes, a 95,489-square-foot shopping center located along South Tamiami Trail in Sarasota. Benderson Development purchased the property from Jacksonville-based REIT Regency Centers. Brad Peterson and Whitaker Leonhardt of Colliers represented the seller in the transaction. Built in 1995, Glengary Shoppes was 97 percent leased at the time of sale to tenants including Best Buy and Barnes & Noble. Regions Bank and IHOP occupy outparcels at the shopping center.
Milan, Tenn. — Marcus & Millichap has brokered the $4.7 million sale of Marketplace at Milan, a 39,726-square-foot retail center located in Milan in western Tennessee. The property was 96 percent leased at the time of sale. Austin Sweet, Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller, an undisclosed partnership. The team also secured and represented the buyer, a private investor. Jody McKibben assisted in closing the sale as the Tennessee broker of record.
Pittsburgh — The Fresh Market will open a 32,131-square-foot store in Pittsburgh’s East Liberty neighborhood. The building was originally constructed in 2002 for Whole Foods Market, which vacated the space in 2022 for a larger store on nearby Penn Avenue. Herky Pollock of CBRE represented the undisclosed landlord in the lease negotiations. Brian Kerr of Hanna Langholz Wilson Ellis represented the tenant. The store will be Fresh Market’s first in Pittsburgh.