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EEE
CaliforniaCompany newsConference CoverageEntertainmentNews

EEE: Emotion is the Key to Achieving ROI with Today’s Entertainment Options

by Abby Cox

Gerald Divaris, chairman and CEO of Divaris Group of Companies and a panelist at last week’s Entertainment Experience Evolution (EEE) conference, produced by France Media’s Shopping Center Business and InterFace Conference Group, has a Shakespearean take on today’s retail environment. It’s that all the (retail) world’s a stage. “Retail is essentially entertainment,” he told a crowd of 500 attendees during the Leading Retail Landlords Panel at EEE, which was held Feb. 25-26 at the J.W. Marriott LA Live. “Otherwise, you’d be buying on Amazon.” Divaris expanded upon this notion, citing …

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IllinoisNet leaseNews

JLL Arranges Sale-Leaseback of 165 Retail Bank Branches for $467 Million

by Abby Cox

Chicago — JLL Capital Markets has arranged the sale-leaseback of 165 SouthState retail bank branches for $467 million. The portfolio spans roughly 1.2 million square feet across six states — Alabama, Georgia, Florida, North Carolina, South Carolina and Virginia — and will operate on a 15-year, triple-net lease basis with annual rent increases of two percent. SouthState will continue to operate branches at each of the locations with no changes to its products or service offerings. Alex Sharrin, Coler Yoakam, Brian Shanfeld, Jeffrey Cicurel, Josh Katlin, Michael Roberts, Josh Hirsch and Andrew …

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Investment salesNewsSouth Carolina

Ziff Real Estate Acquires 253,308-Square-Foot Retail Center in North Charleston

by Abby Cox

North Charleston, S.C. — Mt. Pleasant, South Carolina-based Ziff Real Estate Partners (ZRP) has acquired Promenade at Northwoods, a 253,308-square-foot retail center in North Charleston, for $30.8 million. While the sales price was not disclosed, The Post and Courier reports the seller was an affiliate of Charlotte, North Carolina-based Big V Property Group. Situated across from Northwoods Mall, the property is anchored by Hobby Lobby and Ollie’s Bargain Outlet. Christian Chamblee, Brooke Frey and Paige Tompkins led the ZRP deal team in the transaction. This acquisition brings ZRP’s metro Charleston portfolio …

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The Venue at Belden
Investment salesNewsOhio

Axiom Realty Acquires 157,632-Square-Foot Shopping Center in North Canton, Ohio

by Abby Cox

North Canton, Ohio — Axiom Realty has acquired The Venue at Belden, a 157,632-square-foot regional shopping center in North Canton, Ohio. Originally built in 1974, the center was renovated and re-tenanted in 2016 and 2017. Burlington, T.J. Maxx, HomeGoods and Earth Fare comprise more than 60 percent of the center’s gross leasable area. Erin Patton of IPA represented the undisclosed seller in the transaction.

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Legacy One
LeasingNew JerseyNews

Three Retail Tenants Sign Leases at Mixed-Use Development in East Brunswick, New Jersey

by Abby Cox

East Brunswick, N.J. — Three new tenants have signed leases at Legacy Place, a mixed-use development in East Brunswick. Bonesse’s Tomato Apizza, H20 Henna Hues Organic and Kumon will occupy 3,010; 1,700; and 1,360 square feet at the property, respectively. The businesses will be situated on the ground floor of the development’s mid-rise apartment building at One Legacy Place. One retail space is still available for lease. Its sister building, Two Legacy Place, is currently under development and will include 9,000 square feet of additional retail leasing opportunities. Michael Gartenberg of Garden …

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Washington Square
CaliforniaGrocery-anchoredInvestment salesNews

Brixton Capital Acquires Shopping Center for $67.5 Million in Petaluma, California

by Abby Cox

Petaluma, Calif. — Brixton Capital has acquired Washington Square, a 215,506-square-foot shopping center located in Petaluma, for $67.5 million. The eight-building retail center — which was more than 99 percent leased at the time of sale — is anchored by Safeway. Other tenants at the property include Staples, Harbor Freight Tools, Planet Fitness, Five Below and MarinHealth Medical Center. Brixton plans to improve the property, which was built in 1971 and renovated in 1996, with parking lot and exterior enhancements, roof replacements, new paint and landscaping, and upgrades to the …

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Stow Shopping Center
Grocery-anchoredInvestment salesMassachusettsNews

Atlantic Capital Partners Arranges $26 Million Sale of Two Shopping Centers in Massachusetts

by Abby Cox

Stow and Yarmouth, Mass. — Atlantic Capital Partners has arranged the $26 million sale of two grocery-anchored shopping centers in Massachusetts. The properties include Stow Shopping Center in the Boston suburb of Stow and Yarmouth Shopping Center in Yarmouth. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, an undisclosed Canadian entity, in the transaction. Stow Shopping Center is anchored by Shaw’s Supermarket and spans 124,405 square feet. The property was 90 percent leased at the time …

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CaliforniaLeasingNews

New Retailers, Restaurants to Open at Montgomery Village in Santa Rosa, California

by Abby Cox

Santa Rosa, Calif. — Montgomery Village, a 280,000-square-foot shopping center located in the North Bay Area of Santa Rosa, has introduced its second wave of new tenants. The first wave of leases, which were announced earlier this year, included activewear retailer Vuori, as well as confectionary concepts Salt & Straw and Sprinkles. Additionally, eight more retail and restaurant concepts will join the tenant roster, including Blue Bottle Coffee, Bluemercury, Club Pilates, FACE FOUNDRIÉ, Fieldwork Brewing Company, FP Movement, Mendocino Farms and Sweetgreen. All 11 tenants are set to open within …

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Three-tenant retail outparcel at Greenbrier Square
Grocery-anchoredInvestment salesNewsVirginia

SLN Capital Markets Sells Three-Tenant Outparcel at Shopping Center for $3.4 Million in Norfolk, Virginia

by Abby Cox

Norfolk, Va. — SLN Capital Markets, a division of S.L. Nusbaum Realty Co., has sold a 7,440-square-foot, three-tenant retail outparcel at Greenbrier Square in Norfolk for $3.4 million. Tenants at the retail strip center include La Hacienda Mexican Grill, Clover Nail Spa and Tobacco Land & Vape. This transaction marks SLN’s seventh retail parcel sold at the 254,000-square-foot grocery-anchored shopping center.

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Waterside
Grocery-anchoredInvestment salesNewsTexas

Partnership Sells 68-Acre Mixed-Use Development in Fort Worth, Texas

by Abby Cox

Fort Worth, Texas — A partnership between Trademark Property Co. and Swift Creek Partners has sold Waterside, a 68-acre mixed-use development located in Fort Worth. The Georgetown Co. purchased the property for an undisclosed price. The mixed-use development — which was 98 percent leased at the time of sale — features 157,791 square feet of retail space anchored by Whole Foods Market and REI. The property also includes 550 multifamily units, office space, a Residence Inn, townhomes and a community pavilion and gathering space. Chris Gerard, Barry Brown, Erin Lazarus …

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