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Wegmans-Manhattan
DevelopmentLeasingNew YorkNews

Wegmans to Open 87,500-Square-Foot Grocery Store in Manhattan’s East Village Neighborhood

by Hayden Spiess

New York City — Wegmans Food Market has announced plans to open an 87,500-square-foot store at 770 Broadway in Manhattan’s East Village neighborhood. The market, dubbed Wegmans Astor Place, will be located at the base of an office building that Vornado Realty Trust owns. Meta, formerly known as Facebook, occupies the office portion of the property. The store, which is set to open on Oct. 18, will offer made-to-order and packaged foods; ready-to-eat and ready-to-heat options, including a selection of entrees and sides for individuals and families; and a ‘restaurant foods’ …

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Cherokee Commons and Village Shoppes of East Cherokee
GeorgiaGrocery-anchoredInvestment salesNews

FNRP Acquires 227,618-Square-Foot Shopping Center Portfolio in Georgia

by Hayden Spiess

Acworth and Woodstock, Ga. — First National Realty Partners (FNRP) has acquired a shopping center portfolio totaling 227,618 square feet across two properties in Georgia. The first shopping center, Cherokee Commons, is located in Acworth and comprises 103,835 square feet. A 66,918-square-foot Kroger anchors the property. Other tenants include Pet Supplies Plus, CosmoProf, Fit Body Boot Camp and Jackson Hewitt. Located in Woodstock, Village Shoppes of East Cherokee totals 123,783 square feet. Tenants at the center, which is anchored by a 44,840-square-foot Publix, include Dollar Tree, Workout Anytime, Huntington Learning Center …

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Coleman-Marketplace_Danville-Va
Investment salesNewsVirginia

JLL Arranges Sale of 202,578-Square-Foot Shopping Center in Danville, Virginia

by Hayden Spiess

Danville, Va. — JLL Capital Markets has arranged the sale of Coleman Marketplace, a 202,578-square-foot shopping center located in Danville. Built in 2008, the property was 88 percent leased at the time of sale to tenants including Marshalls, Ross Dress for Less, Old Navy, Michaels, Burkes Outlet, Bath & Body Works and Rack Room Shoes. Tom Kolarczyk, Jordan Lex, Daniel Naughton and Steele Burkett of JLL arranged the transaction on behalf of the seller, Trimont Real Estate Advisors. PECK Properties represented the buyer, entities doing business as JMV SPE LLC, CV …

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Chick-fil-A-drive-thru-concept
Company newsDevelopmentGeorgiaLeasingNew YorkNewsRestaurants

Chick-fil-A to Test Two New Restaurant Concepts in Metro Atlanta, New York City 

by Hayden Spiess

Atlanta and New York City — Chick-fil-A has announced plans for two new restaurant concepts. Beginning in 2024, the brand will open an elevated drive-thru concept in metro Atlanta as well as a walk-up restaurant in New York City. Both concepts are designed to enhance efficiency and convenience, with plans for the drive-thru restaurant including a kitchen built above the drive-thru lanes and dedicated lanes for mobile orders. Targeted toward urban areas with heavy foot traffic, the walk-up concept will allow guests to order through the Chick-fil-A app and pick up …

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Flix-Brewhouse
DevelopmentEntertainmentLeasingNewsTexas

Flix Brewhouse Signs 40,000-Square-Foot Lease at The Shops at Broad in Mansfield, Texas

by Hayden Spiess

Mansfield, Texas — Flix Brewhouse has signed a 15-year lease to open a 40,000-square-foot theater at The Shops at Broad, a retail center located in Mansfield. Scheduled to open this fall, the venue will feature nine auditoriums and offer in-theater dining service. Sam Kartalis of Younger Partners and John Weber of Weber & Co., who manage the property, negotiated the lease on behalf of the landlord, Trez Capital. 

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Willow-Grove-Shopping-Center_Willow-Grove-Pa
DevelopmentMixed-useNewsPennsylvania

Federal Realty Investment to Begin Third Phase of Redevelopment at Willow Grove Shopping Center in Metro Philadelphia

by Hayden Spiess

Willow Grove, Pa. — Federal Realty Investment Trust has announced plans for the third phase of redevelopment at Willow Grove Shopping Center in Willow Grove, roughly 30 miles outside Philadelphia. Phase III will include the addition of a six-story building offering 260 multifamily units and 20,000 square feet of street-level retail space, alongside a structured parking garage. The development will be located adjacent to an 18,000-square-foot multi-tenant retail building currently under construction. Work on the third phase is expected to begin in fall 2024. Existing tenants at the shopping center will …

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CVS_Barnstable-Mass
Investment salesMassachusettsNews

IPA Arranges $29.5 Million Sale of 140,082-Square-Foot Single-Tenant Portfolio 

by Hayden Spiess

Jacksonville, Fla. and Barnstable, Mass. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the $29.5 million sale of a 140,082-square-foot portfolio comprising three single-tenant retail properties. Two of the properties, a 122,358-square-foot store occupied by BJ’s Wholesale and a 7,974-square-foot building occupied by Napa Auto Parts, are located in Jacksonville, Florida. CVS/pharmacy occupies the third property, which totals 9,750 square feet in Barnstable, Massachusetts. Steven Siegel of IPA represented the undisclosed seller and secured the institutional buyer. Ryan Nee and Thomas Shihadeh are Marcus & Millichap’s brokers of record …

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FinanceInvestment salesMassachusettsNew YorkNews

Fantini & Gorga Secures $10 Million Acquisition Financing for Walgreens Portfolio

by Hayden Spiess

Needham, Mass. — Fantini & Gorga has secured $10 million in acquisition financing for a portfolio of four retail properties occupied by Walgreens. Three of the properties are located in Massachusetts, and the fourth is in New York. Casimir Groblewski and Colin Monahan of Fantini & Gorga arranged the debt through multiple banks on behalf of the borrower, Union Station LP, which acquired the portfolio in a 1031 exchange.

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Leesburg-Marketplace
FloridaInvestment salesNews

SRS Arranges Sale of 81,071-Square-Foot Shopping Center in Leesburg, Florida

by Hayden Spiess

Leesburg, Fla. — SRS Real Estate Partners has brokered the $7.5 million sale of Leesburg Marketplace, an 81,071-square-foot shopping center located in Leesburg. The property was 90 percent leased at the time of sale to tenants including Ollie’s Bargain Outlet and Dollar Tree. Kyle Stonis and Pierce Mayson of SRS represented the seller, a Florida-based private investor, in the transaction. An entity doing business as JTT Eagles LLC was the buyer. 

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