Palm Desert, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2.9 million sale of a single-tenant property located in Palm Desert. Bank of America occupies the 3,515-square-foot building, which was built in 2015. Bill Asher and Jeff Lefko of Hanley represented the seller, an undisclosed private investor. Tyler Rollema of The Klabin Co. represented the buyer.
Vernon Hills Ill. — Four new tenants have signed leases totaling 15,751 square feet at Hawthorn, a retail center located in Vernon Hills, roughly 37 miles outside Chicago. Calla Lily and CL Kids, Exclusive Heat and Woody’s will open at the property in October, occupying 6,553; 5,055; and 3,357 square feet, respectively. Gemma Natural Stone & Jewelry will open a 786-square-foot store in November.
Cincinnati and Boise, Idaho — Kroger Co. (NYSE: KR) and Albertsons Cos. Inc. (NYSE: ACI) have agreed to sell 413 stores across 17 states and Washington D.C. as part of the $24.6 billion merger between the two grocery giants. The buyer is C&S Wholesale Grocers, a New Hampshire-based grocery supply company overseeing brands including Piggly Wiggly and Grand Union. According to multiple news outlets including USA Today and Crain’s, the sales price is roughly $1.9 billion. In addition to the 400-plus grocery stores, C&S will also acquire eight distribution centers and two office properties …
Jackson, Mich. — Marcus & Millichap has brokered the $8 million sale of a retail center in located in Jackson. Kroger and Big Lots anchor the property. Ashish Vakhariya, Seth Haron and Darin Gross of Marcus & Millichap represented both the buyer and seller in the transaction.
Springfield, Va. — Whole Foods Market will open a 49,499-square-foot store within Springfield Plaza, a 260,879-square-foot shopping center located in Springfield. The new store, a relocation of an existing Springfield store, will open in early October. The new space nearly doubles the footprint of the original Whole Foods, which has been operating for more than 25 years. Other tenants at Springfield Plaza include Trader Joe’s, CVS/pharmacy, Big Blue Swim, Party Depot, David’s Bridal, Starbucks Coffee, Chipotle Mexican Grill, Panda Express, Verizon Wireless, Inova, Phenix Salon Suites and Wells Fargo.
Frisco, Texas —Pickle and Social and Fairway Social will open within a dual-concept entertainment venue at Frisco Station, a mixed-use development currently underway in Frisco. Pickle and Social, a Competitive Social Ventures (CSV) brand, will offer both indoor and outdoor pickleball courts, as well as live entertainment, food and beverages and other games. Fairway Social will feature golf simulators that include 130 courses, as well as 10 other sports. Construction is scheduled to begin next spring, with the opening scheduled for spring 2025. Tim Henson of Venture Commercial Real Estate and …
Allendale, N.J. — Azarian Realty Co. has fully leased Allendale Town Center, a 90,000-square-foot shopping center located in Allendale. Philly Pretzel Factory recently signed a 1,254-square-foot lease at the property, bringing the center to full occupancy. Kevin Pelio of Azarian represented both the tenant and landlord in the leasing negotiations. Other tenants include AM/PM Urgent Care, Bergen County Pediatric Dentistry and Primo Hoagies. Azarian is the exclusive leasing agent for the center.
Wilmington, N.C. — CenterSquare has purchased The Forum, a 105,785-square-foot retail center located in Wilmington. The property was fully leased at the time of sale. Tenants include Dunkin’ Donuts, Jimmy John’s, Club Pilates, UPS, Chop’t, Bento Box, True Blue Butcher and Osteria Cicchetti.
Washington, D.C. — The National Retail Federation (NRF) has acquired the Reverse Logistics Association (RLA), a global trade association for the returns and reverse industry. “Retailers understand the importance of sustainability practices and the environmental, economic, social and consumer benefits that accompany them,” says Matthew Shay, president and chief executive officer of the NRF. “RLA’s reverse logistics expertise will help our members to ‘close the loop’ and accelerate the emergence of the circular economy,” he adds. The circular economy constitutes the efforts to reuse or recycle useful products, materials and resources.
Santee, Calif. — Macy’s has signed a 30,000-square-foot lease at Santee Trolley Square in Santee, with plans to open one of the brand’s new small-format stores at the property. Brian Quinn and Bryan Cunningham of JLL secured the lease on behalf of the landlord, Kimco Realty Corp. Dave Hagglund and Andrew Roth of CBRE represented Macy’s in the negotiations. The store is scheduled to open in November 2023.
