Atlanta — Matthews Real Estate Investment Services has hired Pierce Mayson and Kyle Stonis as senior vice presidents, Jeff Enck as first vice president and Boris Shilkrot as associate vice president. The veteran retail specialists join the company’s shopping center division from SRS Real Estate Partners, where they managed the sales of shopping centers in 17 different states across the Southeast, Midwest and Northeast. Collectively, Mayson, Stonis, Enck and Shilkrot have brokered the sales of $4 billion in career transactions over a combined 50 years. The group will operate from the …
Riverside, Calif. — Gantry has arranged a $12.8 million permanent loan for the refinancing of a 99,000-square-foot retail property located in Riverside. Stater Bros. Markets, AutoZone and Ross Dress for Less anchor the property, which is situated within the Citrus Landing shopping center. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry secured the five-year financing through a life insurance company on behalf of the borrower.
Florence, Ala. — Legacy Realty Group Advisors has brokered the $8.4 million sale of Florence Plaza, a retail center located in Florence. Ollie’s Bargain Outlet, Crunch Fitness, AutoZone and Badcock Furniture anchor the property, which totals 150,000 square feet. Jacob Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
Herriman, Utah — SRS Real Estate Partners has arranged the $5.3 million purchase of a newly constructed single-tenant retail property located in Herriman, approximately 20 miles southwest of Salt Lake City. A Washington-based private investor acquired the property in a 1031 exchange. PetSuites occupies the 10,953-square-foot property, with a 20-year lease in place. Susan Harris of SRS represented the buyer, and JLL represented the seller in the transaction.
Miami — Villa One Tequila will open a 12,294-square-foot Villa One Tequila Gardens restaurant at the Miami Worldcenter in downtown Miami. Scheduled to open in 2025, the venue will feature more than 150 tequila and mezcal options and Mexican cuisine in a rooftop space. Other tenants scheduled to join the $6 billion, 27-acre mixed-use development include Starbucks Coffee, Earls Kitchen + Bar, Sports & Social, Sixty Vines and Bowlero.
Smyrna, Tenn. — Equitable Property Co. has purchased 44 acres in Smyrna, with plans to develop a mixed-use district dubbed Sewart’s Landing. The project will comprise 250,000 square feet of ground-level retail space, in addition to two medical office buildings (MOBs) totaling 400,000 square feet; a 240-room hotel; and 75 for-sale townhomes. The groundbreaking is scheduled for next month, with completion of Phase I expected in the first quarter of 2025. Tenants at the development’s first phase will include Starbucks Coffee, Wawa and Jonathan’s Grille. Equitable acquired the land for the …
Houston — Disney Investment Group (DIG) has arranged the sale of Presidio Square, a 189,338-square-foot retail center located in Houston. An 82,466-square-foot HEB store anchors the property. Other tenants at the center, which was leased to 30 retailers at the time of sale, include Family Thrift, AT&T, Subway, State Farm, Little Caesars, IHOP and Chase Bank. Wu Properties acquired the property from North American Development Group (NADG) for an undisclosed price. David Disney and Adam Crockett of DIG represented NADG in the transaction.
Acton, Mass. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $21 million sale of Brookside Shops, a 75,529-square-foot shopping center located in Acton, roughly 30 miles outside Boston. Trader Joe’s anchors the property. Jim Koury of IPA arranged the transaction on behalf of the undisclosed seller. Crosspoint Acquisitions acquired the center.
Mesa, Ariz. — An entity doing business as Mesa South Center LP has received $8 million in financing for the acquisition of Mesa South Shopping Center, a 133,663-square-foot retail center located in Mesa. The borrower purchased the property for $15 million. Tenants at the center, which was 85.3 percent leased at the time of sale, include Big 5 Sporting Goods, Harbor Freight Tools and Dollar Tree. The property was originally built in the 1980s but has undergone renovation, including recent capital investments to the parking lot. Shaun Moothart, Bruce Francis, Bob …
Pinecrest, Fla. — Limestone Asset Management and Orion Real Estate Group have completed the $5 million renovation of Pinecrest Town Center, a 225,255-square-foot mixed-use property located in the south Miami suburb of Pinecrest. Renovations at the property, which features retail and office space, included upgrades to the façade and storefronts, the installation of impact windows, improved lighting and the addition of a rooftop parking area. General contractor Tim Majors of Suncon Inc. and architect Bruce Arthur of WHA Design led the project. Pinecrest Town Center was 90 percent leased at the …