Henderson, Nev. — Diversified Partners is underway on the construction of a 2,573-square-foot single-tenant building located in Henderson, roughly 16 miles outside Las Vegas. Scheduled for completion later this month, the property will be occupied by Starbucks Coffee and feature a 900-square-foot outdoor patio space. The project team includes Kitrell Jenson Contractors and RKAA Architects.
Long Beach, Calif. — Two new tenants have signed leases at Long Beach Towne Center, a retail center located in Long Beach. Scheduled to open this summer, restaurant The Stand will occupy 3,011 square feet at the property. Cookie Plug has also signed a lease at the center and will open in a 1,000-square-foot space next to tenant Roasting Water and near the Regal Edwards Long Beach theater.
Kohler, Wis. — Mid-America Real Estate Corp. has arranged the sale of Deertrace Kohler, a 171,366-square-foot shopping center in Kohler, a northern suburb of Milwaukee. Tenants at the center, which is managed by Pine Tree, include T.J. Maxx, HomeGoods, Sierra Trading Post, Dollar Tree, Spectrum, Bath & Body Works, U.S. Cellular, Mattress Firm and JoAnn. Rick Drogosz and Dan Rosenfeld of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Chase Properties acquired the property for an undisclosed price.
Woodbridge, Va. — Kimco Realty has purchased Stonebridge at Potomac Town Center, a 504,000-square-foot shopping center located in the Washington, D.C., suburb of Woodbridge, for $172.5 million. A 138,500-square-foot Wegmans anchors the property, which was 96 percent leased at the time of sale. Tenants at the center include REI, Ulta Beauty, Starbucks Coffee, Cava, Firebirds Wood Fired Grill, Alamo Drafthouse Cinema and Apple Store, as well as boutique fitness, service and medical retailers. Kimco is exploring redevelopment opportunities at Stonebridge at Potomac Town Center, including three retail outparcels and adding mixed-use …
Hialeah and Miami, Fla. — Limestone Asset Management and Orion Real Estate Group, doing business as Limestone Wells, have purchased two single-tenant, Walgreens-leased properties in Florida for $15.6 million. Located in Miami and Hialeah, the properties total 17,909 square feet and 14,490 square feet, respectively. Kevin Sanz of Orion represented the buyers in the all-cash transaction. Brian Pfohl of CBRE represented the seller, Walgreens Co.
Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million sale of a single-tenant property located in Fresno. Starbucks Coffee occupies the newly constructed, 2,250-square-foot building. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Laguna Canyon Group, in the transaction. Patrick Conway of CBRE represented the buyer, a locally based private investor.
Kenilworth, N.J. — Pure Hockey has signed an 11,340-square-foot lease in Kenilworth. Dean Tselepis of Newmark represented Pure Hockey in the lease negotiations. The hockey equipment retailer will open a store in a space formerly occupied by Clean Land Laundromat. Chuck Lanyard of The Goldstein Group represented the landlord, an entity doing business as Kenilworth 2480 Route 22 LLC.
Jericho and New York City, N.Y. — Kimco Realty (NYSE: KIM) has entered into a definitive merger agreement with RPT Realty (NYSE: RPT) under which Kimco will acquire RPT Realty in an all-stock transaction. Both REITs are based in New York — Kimco in Jericho and RPT in Manhattan — and own and operate open-air and grocery-anchored shopping centers, as well as mixed-use assets. Kimco valued the transaction at approximately $2 billion, including the assumption of debt and preferred stock. The merger will add 56 open-air shopping centers, including 43 wholly …
Rockwall, Texas — JLL Capital Markets has arranged the sale of Rockwall Market, a 211,971-square-foot retail center located in the Dallas suburb of Rockwall. Built in 1999, the property was fully leased at the time of sale. Tenants at the center include Ross Dress for Less, Burkes Outlet, Michaels, Old Navy and Petco. Adam Howells, Ryan Shore and Megan Babovec of JLL represented the undisclosed seller in the transaction. Dunhill Partners acquired the property.
Omaha, Neb. — Marcus & Millichap has brokered the $7 million sale of Plaza Q36, an 81,592-square-foot retail center located in Omaha. The property was fully leased at the time of sale. Alex Perez of Marcus & Millichap represented the seller, a limited liability company, in the transaction, with assistance from Jon Ruzicka, the firm’s broker of record in the state.