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DevelopmentMichiganNewsRestaurants

Shipley Do-Nuts Signs 15-Unit Franchise Agreement in Michigan

by Abby Cox

Houston — Shipley Do-Nuts has signed a franchise agreement with Hole Lotta Dough LLC to open 15 new units in Michigan. The agreement will bring Shipley Donuts to Oakland, Macomb and Wayne counties across the Metro Detroit area, with the first location targeted to open late in the first quarter of 2027. The agreement also establishes plans to open three additional shops per year for the next four years, resulting in 15 new stores over a five-year development period. In addition, Shipley announced it will enter Ohio with a three-unit franchise …

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HawaiiLeasingNews

GGP Signs Leases with Four New Tenants at Ala Moana Center in Honolulu

by Abby Cox

Honolulu — GGP has signed leases with four new tenants at Ala Moana Center, a 2.4 million-square-foot open-air center located in Honolulu. Kaikoa Gallery, NARA and POP MART are set to open this August. Kids City Adventure will join previously announced tenants BB Wellness and Molly Tea, which are all scheduled to open in October. Recently opened tenants at the center include Ali‘i Coffee Company, gorjana, Lume Harmony, MINISO and Studs. Crocs will also reopen at the center in September, and Tiffany & Co. will relocate temporarily while its permanent location …

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FinanceGrocery-anchoredMarylandNews

Northmarq Arranges $50.8 Million in Financing for Grocery-Anchored Retail Property in Metro Washington, D.C.

by Abby Cox

Potomac, Md. — Northmarq has arranged $50.8 million in permanent, fixed-rate financing for Potomac Place Shopping Center, an 80,040-square-foot retail property located in Potomac, roughly 15 miles northwest of downtown Washington, D.C. Originally constructed in 1967, Potomac Place is anchored by Safeway and features a mix of additional tenants such as Chipotle Mexican Grill, Starbucks Coffee, Mathnasium, Rose Home Services, Walgreens, PNC Bank and East West Tae Kwon Do. Jason Smith and Kenneth Gentzel of Northmarq arranged the loan through Nationwide Life Insurance Co. on behalf of the borrower, Zuckerman Gravely.

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Investment salesMixed-useNew JerseyNews

Marcus & Millichap Brokers $7 Million Sale of Retail, Office Property in Northern New Jersey

by Abby Cox

Livingston, N.J. — Marcus & Millichap has brokered the $7 million sale of 107 E. Mount Pleasant Avenue, a 26,240-square-foot retail and office property located in the Northern New Jersey community of Livingston. The two-story property was built in 1970 and comprises 19 units, 75 parking spaces and a newly constructed car wash. The property was 92 percent leased at the time of sale to 17 tenants including the Kumon Institute, a deli, café and pharmacy. Alan Cafiero, David Cafiero and Damien Rance of Marcus & Millichap marketed the property on …

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Grocery-anchoredInvestment salesNewsTennessee

Sembler Co., Forge Capital Acquire Kroger-Anchored Center in Jackson, Tennessee

by Abby Cox

Jackson, Tenn. — The Sembler Co. and Forge Capital have acquired Lynnwood Place, a 96,613-square-foot, grocery-anchored center located in Jackson. The property was acquired through the Forge Real Estate Partners investment fund. Lynnwood Place, which was 82 percent occupied at the time of sale, features a mix of tenants such as Kroger, Domino’s Pizza, Cato and Spectrum. Approximately 17,515 square feet of small-shop space is available for lease. The Sembler Co. will serve as the property manager and leasing agent at the center. Cushman & Wakefield represented the seller, Phillips Edison …

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CaliforniaDevelopmentFinanceNews

HKS Real Estate Arranges $7.8 Million in Construction Financing for Two Retail Developments in California

by Abby Cox

Fresno and Clovis, Calif. — HKS Real Estate Advisors has arranged $7.8 million in construction financing for two ground-up retail developments in Fresno and Clovis. Alex Dobosh and Andrew Pilchick of HKS secured the loans through North American Savings Bank on behalf of the borrower, Bottom Line Group. A $4.3 million loan will fund the first project, which will be a 4,771-square-foot 7-Eleven convenience store and gas station located in Fresno. Meanwhile, a $3.4 million loan will fund the second project, an 11,353-square-foot, three-unit retail building in Clovis that will feature …

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IdahoLeasingMixed-useNews

CenterCal Properties Signs Leases with Five New Tenants at The Village at Meridian Near Boise, Idaho

by Abby Cox

Meridian, Idaho — CenterCal Properties has signed leases with five new tenants at the second phase of The Village at Meridian, an 80,000-square-foot commercial space underway that will span six buildings in Meridian, located roughly 10 miles west of downtown Boise. The new tenants will include upscale gastropub Culinary Dropout (7,000 square feet); fine-dining restaurant The Capital Grille; cookware and housewares retailer Williams Sonoma (5,550 square feet); Pottery Barn; and modern furniture brand 7th Avenue. Other tenants at the property will include Vuori, Alo, Kendra Scott, Tecovas, Gorjana, solidcore and Tempur-Pedic, …

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Festival-Manassas
Grocery-anchoredInvestment salesNewsVirginia

Finmarc Sells Shopping Center in Manassas, Virginia, for $24.5 Million

by Abby Cox

Manassas, Va. — Bethesda, Maryland-based Finmarc Management Inc. has sold Festival at Manassas, a 117,675-square-foot shopping center in Northern Virginia, for $24.5 million. JCR Cos. purchased the grocery-anchored property, which is located at 10288-10388 Festival Lane in Manassas. Ryan Sciullo, Chris Munley, Colin Behr and Casey Smith of CBRE represented Finmarc in the transaction. Situated near the intersection of Sudley and Portsmouth roads, Festival at Manassas was 88 percent leased at the time of sale to tenants including Global Foods, Golden Royal Buffet, SudsMore, My Salon Suites and Potbelly Sandwich …

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CaliforniaInvestment salesNews

Newmark Pacific Arranges $16.5 Million Sale of Link OC Retail Center in Anaheim, California

by Abby Cox

Anaheim, Calif. — Newmark Pacific has arranged the $16.5 million sale of Link OC, a shopping center in Anaheim. An undisclosed seller sold the property to Northpond Acquisition. Located at 1071, 1081 and 1095 N. Tustin Ave., Link OC features 26,385 square feet of necessity-based retail space and was fully leased at the time of sale. Current tenants include Reborn Coffee, Wendy’s, Byblos Mediterranean Grill, Pampanga Food Co., Spin Poke & Grill and MD Clinics Urgent Care. The property was renovated in 2017. Pete Bethea, Glenn Rudy and Rob Ippolito of …

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Mandeville-Marketplace
Investment salesLouisianaNews

SRS Real Estate Negotiates $8 Million Sale of 62,324-Square-Foot Retail Property in Mandeville, Louisiana

by Abby Cox

Mandeville, La. — SRS Real Estate Partners has negotiated the $8 million sale of Mandeville Marketplace, a 62,324-square-foot retail center located in Mandeville. Built in 1988 on six acres, the property was fully leased at the time of sale to five tenants including Altitude Trampoline Park and Crunch Fitness. Sabrina Sapienza and Chad Lieber of SRS Real Estate represented the seller, a Louisiana-based owner. Ben Stalter of Maestri-Murrell represented the buyer, a Louisiana-based private investor, in the transaction.

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