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Investment salesNewsTexas

Sterling Organization Sells 635,325-Square-Foot Park North Shopping Center in San Antonio

by Abby Cox

San Antonio — Sterling Organization has sold Park North Shopping Center, a 635,325-square-foot regional retail center in San Antonio. Local media sources report the purchase price was $115 million. Target anchors the property, which was 93.3 percent leased at the time of sale. Other tenants include Pinstack, Alamo Drafthouse Cinema, Norris Conference Centers and Outlaw Pickleball. The property also features approximately 42,381 square feet of immediate lease-up space. Chris Gerard, Barry Brown, Erin Lazarus and Whitney Snell of JLL represented Sterling in the transaction. The buyer was Dhanani Private Equity …

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Investment salesNew YorkNews

JLL Negotiates Sale of 127,496-Square-Foot Retail, Medical Building in Garden City, New York

by Abby Cox

Garden City, N.Y. — JLL Capital Markets has negotiated the sale of 1300 Franklin Ave., a 127,496-square-foot retail and medical office building in the Long Island community of Garden City. Originally built in the 1960s and renovated in 2007, the property comprises roughly 50,000 square feet of retail space and 50,000 square feet of medical office space, with approximately 27,000 square feet of vacant space. NYU Langone Health anchors the building, which was 78.5 percent leased at the time of sale. Other tenants include Walgreens, Cornell Medicine and Healthtrax. Jose Cruz …

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CaliforniaInvestment salesNews

SRS Real Estate Brokers $6.8 Million Sale of Single-Tenant Retail Property in San Bernardino, California

by Abby Cox

San Bernardino, Calif. — SRS Real Estate Partners has arranged the sale of a single-tenant restaurant property located in San Bernardino. Panera Bread occupies the 3,986-square-foot property, which was built in 2024, on a 15-year absolute triple-net lease basis. A California-based investor acquired the property from Paragon Commercial Group for $6.8 million. Patrick Luther and Matthew Mousavi of SRS Capital Markets represented the seller in the transaction.

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LeasingNew JerseyNews

Levin Management Corp. Signs Three New Leases at West Orange Plaza in Northern New Jersey

by Abby Cox

West Orange, N.J. — Levin Management Corp. (LMC) has signed three new leases at West Orange Plaza, a 298,000-square-foot grocery-anchored center in West Orange, about 20 miles west of Manhattan. Quickway Japanese Hibachi will open a 1,511-square-foot restaurant, while Namkeen Hot Chicken Joint will debut a 1,460-square-foot venue. Lastly, VIO Med Spa will occupy 1,923 square feet. The recently signed tenants will be joining a roster of various retailers and restaurants including Verizon, Chipotle Mexican Grill, Jersey Mike’s Subs, Whole Foods Market, Dogtopia, America’s Best Contacts & Eyeglasses and a …

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Company newsGrocery-anchoredNewsVirginia

Rappaport to Manage West Springfield Shopping Center in Metro Washington, D.C.

by Abby Cox

Springfield, Va. — Rappaport has been selected to provide property management services for Principal Asset Management’s West Springfield Shopping Center, an 86,000-square-foot grocery-anchored center located in Springfield, approximately 14 miles southwest of Washington, D.C. Rappaport already oversees leasing at the property, and also previously managed a redevelopment project at the center, which featured the relocation and ground-up construction of an Inova/GoHealth facility and consolidation of the new grocery anchor, Aldi. Additional tenants at West Springfield Shopping Center include Panera Bread, Chipotle Mexican Grill, Subway, Magic Cleaners, The UPS Store, Papa John’s …

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FinanceGrocery-anchoredKansasNews

JLL Arranges $25.5 Million in Refinancing for 140,806-Square-Foot Grocery-Anchored Shopping Center in Suburban Kansas City

by Abby Cox

Overland Park, Kan. — JLL Capital Markets has arranged $25.5 million for the refinancing of Overland Crossing, a 140,806-square-foot grocery-anchored center located in the Kansas City suburb of Overland Park. Tenants at the center, which is 94 percent occupied, include a newly constructed Whole Foods, Burlington Coat Factory, Nordstrom Rack and Five Below. The property also features three pad sites. Overland Crossing previously underwent an expansion and redevelopment in 2021, which included the addition of Whole Foods Market. Chris Gandy, Tom Gilliland and Michael Nieder of JLL secured the three-year, floating-rate …

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AlabamaFinanceNewsPower centers

CBRE Arranges $57 Million in Refinancing for 422,337-Square-Foot Power Center in Birmingham, Alabama

by Abby Cox

Birmingham, Ala. — CBRE has arranged a $57 million loan for the refinancing of Brook Highland Plaza, a 422,337-square-foot power center located in Birmingham. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan through an undisclosed life insurance company on behalf of the borrower, First National Realty Partners. Brook Highland Plaza is situated on 52 acres and was 94.4 percent leased at the time of sale to tenants including Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Michaels, Shoe …

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FloridaGrocery-anchoredInvestment salesNews

Benderson Development Acquires 216,692-Square-Foot Grocery-Anchored Center in Clearwater, Florida

by Abby Cox

Clearwater, Fla. — Benderson Development has acquired Clearwater Shoppes, a 216,692-square-foot shopping center located in Clearwater. Situated on 14.5 acres adjacent to the 1.3 million-square-foot Countryside Mall, the center’s tenant roster includes Whole Foods Market, Target and Nordstrom Rack. Seritage Growth Properties sold the shopping center to Benderson for an undisclosed price. Danny Finkle, Jorge Portela, Kim Flores and Evan Lahr of JLL represented the seller in the transaction.

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GeorgiaInvestment salesNewsSouth Carolina

SRS Real Estate Negotiates Sale of Two Retail Properties in Georgia, South Carolina, Totaling $7.6 Million

by Abby Cox

Carrollton, Ga. and Union, S.C. — SRS Real Estate Partners has negotiated the sale of two single-tenant retail properties in Georgia and South Carolina totaling $7.6 million. The properties include a property in Carrollton leased to Parachute Plasma and a drive-thru restaurant in Union occupied by Arby’s. Britt Raymond and Kyle Fant of SRS represented the 1031 exchange buyer, a New York City-based private investor, in the transaction. The sellers were not disclosed. The first property, Parachute Plasma, sold for $5.5 million and totals 7,613 square feet of retail and …

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DevelopmentFloridaNews

St. Joe Co. to Develop Publix at Watersound West Bay Center in Panama City Beach, Florida

by Abby Cox

Panama City Beach, Fla. — The St. Joe Co. will develop a new Publix grocery store at Watersound West Bay Center, a lifestyle center under construction in Panama City Beach. The new Publix is expected to comprise 50,000 square feet and will feature a pharmacy, deli and bakery, as well as an adjacent Publix Liquor store. Plans will also include an additional 11,000 square feet of inline retail space. Upon completion, Watersound West Bay Center will serve the neighboring Latitude Margaritaville Watersound community, which will have a total of 3,500 …

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