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Investment salesNewsWashington

Alamo Group, Covenant Real Estate Acquire 120,169-Square-Foot Shopping Mall in Walla Walla, Washington 

by Hayden Spiess

Walla Walla, Wash. — Alamo Group and Covenant Real Estate Group have acquired Walla Walla Town Center, a 120,169-square-foot shopping mall situated on 31 acres in Walla Walla. Tenants at the property, which was 93 percent occupied at the time of sale, include Planet Fitness, Burlington, Ross Dress for Less, Marshall’s, PetSmart, Ulta Beauty, Hobby Lobby, Famous Footwear and Sportsman’s Warehouse. Formerly known as Blue Mountain Mall, the property was redeveloped and reopened as Walla Walla Town Center in 2018. Christopher Edwards, Clayton Brown and Ruthanne Loar of Marcus & Millichap …

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Grocery-anchoredInvestment salesMinnesotaNews

Hanley Brokers $11.9 Million Sale of Retail Center in Metro Minneapolis

by Hayden Spiess

Brooklyn Park, Minn. — Hanley Investment Group Real Estate Advisors has brokered the $11.9 million sale of Edinburgh Festival Centre, a retail center located in Brooklyn Park, roughly 11 miles outside Minneapolis. A 54,476-square-foot Festival Foods anchors the 91,563-square-foot property. Other tenants at the center, which was built in 1996, include Dollar Tree, Caribou Coffee, Dairy Queen, Jackson Hewitt Tax Service, Kumon Reading and Math Center and State Farm Insurance. Bill Asher and Jeff Lefko of Hanley, in association with ParaSell Inc., represented the seller, LS Capital, in the transaction. The …

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LeasingNewsVirginia

Two Tenants Sign Leases Totaling 8,625 Square Feet at Dulles Town Center in Virginia

by Hayden Spiess

Sterling, Va. — Two new tenants have signed leases at Dulles Town Center, a shopping mall located in Sterling. Sushi King is scheduled to open a 7,825-square-foot restaurant at the property in the second quarter of this year. Lit4Luv will also join the mall, with the custom candle retailer scheduled to open an 800-square-foot store next month.  Other tenants at Dulles Town Center include Macy’s, JCPenney, LA Fitness, Regal Dulles Town Center 10 and Dick’s Sporting Goods. 

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EntertainmentGeorgiaLeasingMixed-useNews

The Escape Game Opens 4,172-Square-Foot Venue in Atlanta

by Hayden Spiess

Atlanta — Interactive escape room concept The Escape Game has opened a 4,172-square-foot facility at The Interlock, a vertical mixed-use property located in the Midtown neighborhood of Atlanta. Located under Puttshack, The Escape Game Atlanta features immersive entertainment with multi-room experiences. Established in 2014, the brand currently operates venues in 34 cities across 19 states. 

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Company newsNew YorkNews

JPMorgan to Open 500 New Chase Bank Branches, Renovate 1,700 Over Next Three Years

by Hayden Spiess

New York City — JPMorgan Chase & Co. (NYSE: JPM) announced plans today to expand its brick-and-mortar footprint by adding 500 Chase bank branches over the next three years. The New York City-based institution also plans to renovate 1,700 existing bank locations across the United States. New branches will expand JPMorgan Chase’s footprint in existing markets like Boston; Washington, D.C.; Charlotte, North Carolina; Philadelphia; and Minneapolis. The company will also enter several new markets, including low- to moderate-income rural communities that previously had little access to traditional banking service. The multi-billion-dollar …

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IndianaInvestment salesNews

Big V Acquires 232,284-Square-Foot Retail Center in Indianapolis Suburb

by Hayden Spiess

Carmel, Ind. — Big V Property Group, with partner Equity Street Capital, has acquired Merchants’ Square, a 232,284-square-foot retail center located in the Indianapolis suburb of Carmel. Tenants at the property include Planet Fitness, Flix Brewhouse, Cost Plus World Market, Petco and Dollar Tree. This marks Big V’s first acquisition in the Indianapolis market. 

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AlabamaInvestment salesNews

IPA Brokers $17.6 Million Sale of Eastwood Village Retail Center in Birmingham, Alabama

by Hayden Spiess

Birmingham, Ala. —Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $17.6 million sale of Eastwood Village, a 130,056-square-foot shopping center in Birmingham. A Walmart, not included the transaction, anchors the center. Tenants at the property include Ross Dress for Less, Office Depot, Michaels and Party City. Zach Taylor of IPA represented the seller, a partnership based in Louisiana, in the transaction and sourced the buyer, a private syndicator based in California that paid all-cash.

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FloridaGrocery-anchoredInvestment salesNews

Graphite Real Estate Purchases Publix-Anchored Shopping Center in Metro Tampa for $9.9 Million

by Hayden Spiess

Holiday, Fla. — Graphite Real Estate has purchased Holiday Centre, a 67,035-square-foot shopping center located in Holiday, a northern suburb of Tampa. Graphite acquired the property for $9.9 million. Publix anchors the center, which was 98 percent leased at the time of sale. Other tenants include Planet Fitness, Publix Liquors and Bright Now Dental. Ari Ravi of RIPCO Investment Sales represented the undisclosed seller in the transaction, and RGA Reinsurance Co. originated acquisition financing on behalf of Graphite.

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DevelopmentKentuckyNews

Staghorn to Open $250 Million Bourbon Distillery, Visitor Center Near Lexington, Kentucky

by Hayden Spiess

Lancaster, Ky. — Spirits company Staghorn is underway on the development of its first distillery, which will be situated on a 210-acre site in Lancaster, roughly 40 miles south of Lexington.  Dubbed Garrard County Distilling Co., the $250 million project will feature a 50,000-square-foot distillery, as well as two rickhouses and a visitor center with a tasting room and restaurant, with plans for up to 24 aging warehouses by 2030. The distillery is expected to create more than 60 permanent jobs and produce up to 150,000 barrels of bourbon each year. 

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