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CaliforniaGrocery-anchoredInvestment salesNews

Hanley Arranges Acquisition of Five Outparcels Totaling 25,916 Square Feet in Southern California

by Hayden Spiess

Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the acquisition of five retail outparcels located at Citrus Landing, a 124,904-square-foot retail center in Riverside. Tenants at the outparcels, which total 25,916 square feet, include Carl’s Jr., Quick Quack Car Wash, Arrowhead Credit Union, Panda Express, Café Bottega, Pacific Dental, and Chick-fil-A, which is scheduled to open next year. Stater Bros. anchors Citrus Landing, which was fully occupied at the time of sale. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the 1031-exchange buyers in the transaction. …

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EntertainmentLeasingNew YorkNews

Electric Shuffle to Open 10,000-Square-Foot Entertainment Center in Manhattan

by Hayden Spiess

New York City — Electric Shuffle, an entertainment concept featuring high-tech shuffleboard, as well as food and beverages, will open a 10,000-square-foot venue on the second floor of Broadway and West 30th Street in Manhattan’s NoMad neighborhood. John Few of SRS Real Estate Partners represented Electric Shuffle in the lease negotiations. Richard Tang represented the landlord, The Lam Group, on an internal basis, with Adam Weinblatt of Newmark. The opening is scheduled for next spring.

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Bowlero
Company newsEntertainmentInvestment salesNet leaseNew YorkNews

VICI Acquires 38 Bowling Entertainment Centers for $432.9 Million

by Hayden Spiess

New York City — VICI Properties Inc. has acquired 38 bowling entertainment centers from Bowlero Corp. in a sale-leaseback transaction for a total $432.9 million. Bowlero will now occupy the properties, which are located in 17 states, on a triple-net-lease basis. Initial annual rent for the lease will total $31.6 million. The deal also included an eight-year right of first offer term for VICI to purchase Bowlero real estate. J.P. Morgan acted as financial advisor to VICI in the transaction, and Hogan Lovells US LLP and Kramer Levin Naftalis & Frankel …

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Hy-Vee_Fairmont-Minn
Investment salesMinnesotaNet leaseNews

Cleeman Realty Group Brokers $5.1 Million Sale of Single-Tenant Property in Fairmont, Minnesota

by Hayden Spiess

Fairmont, Minn. — Cleeman Realty Group has brokered the $5.1 million sale of a single-tenant property located in Fairmont. Hy-Vee occupies the 54,740-square-foot building on a triple-net-lease basis. Jeremy Scheer of Cleeman represented the undisclosed buyer in the transaction. 

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2544-2550-Alameda-St-Vernon-CA
CaliforniaInvestment salesNews

DP Vernon Retail Sells 14,000-Square-Foot Retail Center in Metro Los Angeles

by Hayden Spiess

Vernon, Calif. — DP Vernon Retail has sold Vernon Shopping Center, a retail center located in Vernon, roughly 4 miles outside downtown Los Angeles. Built in 2017, the center totals 14,000 square feet and was 77 percent occupied at the time of sale. Current tenants include Jersey Mike’s Subs and Café Dulce. Wimatex Inc. acquired the property for an undisclosed price in a 1031 exchange. Chris Maling and David Maling of Avison Young represented DP in the transaction.

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Champions Village Houston
LeasingNewsTexas

Three New Tenants Sign Leases Totaling 54,000 Square Feet at Champions Village in Houston

by Hayden Spiess

Houston — Three new tenants have signed leases totaling 54,000 square feet at Champions Village, a retail center located in Houston. Lowe’s has opened a 41,453-square-foot store at the property, occupying a former Stein Mart space. Additionally, Hibbett Sports and The Greasy Spoon are both scheduled to open at the center in 2024. First National Realty Partners is the landlord. 

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Causeway-Shopping-Center_Indian-Harbour-Beach-Fla
FloridaLeasingNews

Michaels to Open 21,000-Square-Foot Store at Causeway Shopping Center in Florida

by Hayden Spiess

Indian Harbour Beach, Fla. — Michaels will open a 21,000-square-foot store at Causeway Shopping Center in Indian Harbour Beach this year. Construction is currently underway on the store, which will be located in the space formerly occupied by Office Depot, adjacent to Ross Dress for Less. Forge Real Estate Partners III, a joint venture between The Sembler Co. and Forge Capital Partners, is the landlord. Other tenants at the 112,000-square-foot property include Panera Bread, GNC and Bealls Outlet. The center is now 85 percent occupied. 

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Pacific-Town-Center_Stockton-Calif
CaliforniaInvestment salesNews

Brixton Capital Acquires 143,217-Square-Foot Shopping Center in California

by Hayden Spiess

Stockton, Calif. — Brixton Capital has acquired Pacific Town Center, a 143,217-square-foot shopping center located in Stockton. Tenants at the property, which was 42 percent leased at the time of sale, include Smart & Final, Panda Express and Subway. The buyer plans to re-tenant spaces formerly occupied by Toys “R” Us and T.J. Maxx. Hanley Investment Group represented the undisclosed seller in the transaction. 

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Lake-Harris-Square-Plaza_Leesburg-Fla
FloridaGrocery-anchoredInvestment salesNews

Island Associates Brokers $6.3 Million Sale of Retail Center in Metro Orlando

by Hayden Spiess

Leesburg, Fla. — Island Associates Real Estate has brokered the $6.3 million sale of Lake Harris Square Plaza, a retail center located in Leesburg, roughly 45 miles outside Orlando. Winn-Dixie anchors the 9.8-acre property, which recently saw the addition of a 61,220-square-foot building. Other tenants at the center include Beef O’Brady, Brooklyn’s Pizzeria & Italian Restaurant, Subway and Seafood Shack. Roger Delisle of Island Associates represented the buyer, and Daniel Baruch of Legacy Realty Group represented the seller. 

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