Washington, D.C. — PRP has acquired Spring Valley Village, a 95,000-square-foot shopping center in Washington, D.C., for $47.5 million. Originally constructed in 1939 and renovated in 2017, the center comprises six buildings that were 98 percent leased at the time of sale. Tenants at the property include Crate & Barrel, Millie’s Restaurant, Capital One Bank, Starbucks Coffee, Small Door Veterinary, Compass Coffee and Blue Lane.
Milwaukee, Wis. — Legacy Realty Group Advisors has arranged the sale of Packard Plaza, a 125,250-square-foot shopping center in Milwaukee. Tenants at the property include Dollar Tree, Family Dollar, JOANN, AutoZone and The Salvation Army. Jacob Baruch, Ari Warshaw and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction.
Fremont, Calif. — Marcus & Millichap Capital Corp. has secured a $4.6 million loan for the acquisition of a single-tenant retail property located in Fremont. Ron Balys of Marcus & Millichap arranged the 10-year financing on behalf of the undisclosed borrower. Red Lobster occupies the property.
Peachtree Corners, Ga. —North American Properties (NAP) has partnered with Politan Group to open a 10,000-square-foot food hall at The Forum Peachtree Corners, a mixed-use redevelopment in metro Atlanta. Scheduled to open in summer 2024, Politan Row at The Forum marks the second food hall for the partnership, following the opening of Politan Row at Colony Square in Midtown Atlanta two years ago. Bell-Butler is designing the food hall, which will feature space for seven independent food-and-beverage concepts, a bar, private event venue and an outdoor patio fronting the greenspace.
Watertown, Mass. — Seven new tenants have committed to spaces at Arsenal Yards in Watertown, roughly 10 miles outside Boston. Tea One Tea House, Skin Laundry, Restore Hyper Wellness and GNC have recently opened, and Blackbird Doughnuts is scheduled to open this fall. Chip City and Medium Rare have also signed leases at the development, with Chip City scheduled to open later this year.
Carlsbad, Calif. — CBRE has brokered the $23.5 million sale of three restaurant properties located in Carlsbad. Reg Kobzi, Michael Peterson, Joel Wilson, Philip Voorhees, Megan Lanni and Eric Shain of CBRE represented the seller, CPT/SC Title Holding Corp., in the disposition of the properties to separate buyers. Creekside Shops LLC purchased a 10,262-square-foot building leased to King’s Fish House at 5625 Paseo Del Norte for $10.3 million. An undisclosed buyer purchased a 7,166-square-foot P.F Chang’s located at 5621 Paseo Del Norte for $5.7 million. K Ishii Manhattan Ave LLC acquired a 10,470-square-foot BJ’s Restaurant …
North Miami, Fla. — Reserve Padel has announced plans to open a 100,000-square-foot fitness club in North Miami. Upon completion, the venue will feature four indoor and six outdoor padel courts; two pickleball courts; a health and wellness center; Pura Vida restaurant; steam room; and cold plunge pool. Situated within SoLé Mia, a 184-acre master-planned community, the club will mark the first permanent location for the brand.
Elizabeth and Roselle, N.J. — Cronheim Mortgage has arranged a $13.1 million loan for the acquisition of two retail centers located in New Jersey. The first property, Color Plaza, comprises 49,309 square feet in Elizabeth. Tenants at the center, which was fully leased at the time of the transaction, include Seabras and CVS/pharmacy. Developed in 2004, the second property is Roselle Commons in Roselle. The center was fully leased at the time of the transaction to tenants including Pep Boys, Green Grocer, Quest Diagnostics, GNC and T-Mobile. Andrew Stewart, Dev Moris …
Houston — Six tenants have signed leases at West on West, a 90,000-square-foot mixed-use development currently underway in Houston. Tsujita Artisan Noodle will open a 2,814-square-foot restaurant at the property, and Paris Baguette will occupy 3,150 square feet. Korean dessert concept SomiSomi and boba chain The Alley have also leased 1,637 and 2,436 square feet, respectively. Additionally, Lady M will open a 2,793-square-foot bakery next spring, and Kaiten-sushi Ginza Onodera will open within a 3,976-square-foot space at the development in spring 2025. Heather Nguyen represented the landlord, NewQuest Properties, in the …
Plano, Texas — JCPenney has reopened its 320,000-square-foot corporate office at The Campus at Legacy West (CALWest) in Plano, welcoming back some 2,000 associates in the process. The department store chain originally opened in CALWest campus in 1992 when it relocated to Texas from New York City, but the offices were largely shuttered after the company filed for Chapter 11 bankruptcy protection during the early days of the COVID-19 pandemic. The office now features an open floor plan to encourage collaboration among employees, who will also have access to amenities such …
