Houston — Baker Katz has acquired Lakewood Forest Shopping Center, a 108,016-square-foot shopping center located in northwest Houston. Situated adjacent to Target, Lakewood Forest Shopping Center was originally built in 1984 on roughly 11 acres. Current tenants at the property include Planet Fitness, Dollar Tree, First Watch, Taco Cabana and KFC. Jason Baker, Kenneth Katz, Ben Brown and Jack Moody of Baker Katz arranged the acquisition.
Orlando, Fla. — JLL Capital Markets has arranged $17.5 million in financing for the acquisition of International Shoppes, a 73,568-square-foot open-air shopping center located in Orlando near Walt Disney World Resort. The property is currently 82 percent leased to tenants including Boot Barn and Subway. Joshua Odessky, Michael DiCosimo and Aaliyah St. Louis of JLL’s Debt Advisory team secured financing through Ameris Bank on behalf of the borrower, The Cornfeld Group.
Provo, Utah — Bershon Realty Co. LP has sold Bulldog Plaza, a 13,620-square-foot retail center located near Brigham Young University (BYU) in Provo. Anchored by CVS Pharmacy, Bulldog Plaza comprises two retail pad buildings, which are both fully leased. The five-tenant, 10,025-square-foot pad building includes Noodles & Co., Firehouse Subs, Coco Tea, Teriyaki Bowl and The Taco Spot. Meanwhile, the three-tenant, 3,595-square-foot building is occupied by Papa John’s, The Paleta Bar and Crazy D’s Hot Chicken. Bill Asher, Jeremy McChesney, Jeff Lefko and Ed Hanley of Hanley Investment Group Real Estate …
San Francisco — Macy’s and TMG Partners have formed a joint venture to explore the potential redevelopment of the retailer’s flagship store on Union Square in San Francisco’s retail district. TMG will help Macy’s conduct a “strategic assessment” of the property to explore the viability of renovations and enhancements that will “align with the needs of today’s office workers, residents, visitors, retail and local businesses.” The Union Square location will remain open indefinitely. Further updates on plans and next steps for the Union Square site will be shared in the coming …
Nashville, Tenn. — Simon Property Group plans to develop Sagefield, a 100-acre mixed-use destination that will be located on the south side of Nashville. The construction timeline for the project was not released. Situated in the hills of Williamson County, the planned project will feature lifestyle shops, restaurants and service retail spaces, as well as a landmark hotel by Author & Edit Hospitality, a hotel brand helmed by restaurateur and hotelier Sam Fox of Fox Restaurant Concepts. “This exciting new development will set a new standard for quiet luxury in …
Sharpsburg, Ga. — Hanley Investment Group Real Estate Advisors has brokered the $26.9 million sale of Fischer Marketplace, a newly constructed, 70,134-square-foot Publix-anchored shopping center in Sharpsburg, approximately 38 miles southwest of Atlanta. Additional tenants at the property, which was fully occupied at the time of sale, include Jersey Mike’s, Dave’s Hot Chicken, Nothing Bundt Cakes and Great Clips. The sale also features three outparcels leased to Gusto!, Heartland Dental and Andy’s Frozen Custard. Publix occupies approximately 69 percent of the property on a long-term lease. Kevin Fryman and Ed Hanley …
Southern Pines, N.C. and Cedar Falls, Iowa — BWE has arranged $49.5 million for the refinancing of two shopping centers totaling 414,680 square feet located in North Carolina and Iowa. Dan Rosenberg, Logan Petersmeyer and Isabella Barrios of BWE secured the financings on behalf of Cincinnati, Ohio-based Midland Atlantic Properties. Both non-recourse loans feature competitive interest rates and multiple years of interest-only payments. The first property, Viking Plaza Drive in Cedar Falls, Iowa, is a 147,659-square-foot shopping center leased to Scheel’s, Michaels, Old Navy and Ulta Beauty. The second property, Morganton …
Kingsport, Tenn. — Marcus & Millichap has arranged the sale of Shoppes at East Stone, a 23,876-square-foot retail center located in Kingsport, a city near the Tennessee-Virginia border. Built in 2011, the property was 95 percent leased at the time of sale to tenants including Jersey Mike’s, Stanton Optical, East Coast Wings + Grill, Lendmark Financial Services, Lumber Liquidators and Polish Nail Bar. Michael J. Early of Marcus & Millichap represented the seller, a Maryland-based family office, in the transaction. Jody McKibben was Marcus & Millichap’s broker of record in Tennessee.
Glendale, Ariz. — Western Real Estate Advisors has been selected to provide leasing for the retail portion of Westgate Entertainment District, a 623,734-square-foot super-regional mixed-use project under development in Glendale, roughly nine miles northwest of downtown Phoenix. Charles Skaggs, Noah Anastassatos and Haley Perez of Western Retail Advisors will lead leasing efforts at the property, which is owned and operated by YAM Properties LLC. The retail portion of the Westgate Entertainment District, which is 98 percent leased, features 388,885 square feet of shops, eateries and entertainment venues across 15 buildings. Tenants …
Charlottesville, Va. — A joint venture between Cohen & Steers Income Opportunities REIT (CNSREIT) and Philips Edison & Co. (PECO) has acquired Rio Hill Shopping Center, a 288,000-square-foot open-air shopping center located near the University of Virginia (UVA) in Charlottesville. This transaction marks CNSREIT’s third acquisition with PECO and its seventh open-air shopping center. Rio Hill Shopping Center is leased to Kroger and two TJX concepts. The sales price was not disclosed.
