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Largo-Town-Center_Upper-Marlboro
Grocery-anchoredInvestment salesNewsWashington DC

Finmarc Management Sells Largo Town Center in Metro D.C. for $70 Million 

by Hayden Spiess

Upper Marlboro, Md. — Finmarc Management Inc. has sold Largo Town Center, a 280,000-square-foot retail center in the Upper Marlboro suburb of Washington, D.C., for $70 million. The investment firm purchased the shopping center in 2019 when it was 80 percent occupied. John Donnelly of John C. Donnelly Inc. and Arthur Benjamin and Alex Alperstein of AdvisoRE LLC represented the buyer, an investment group led by Bethesda-based KPI Commercial LLC, in the transaction. Joseph Hoffman of Kelley Drye Warren provided legal services to Finmarc. Tenants at the property include Marshalls, Shoppers …

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Bojangles-Store-Sign
Company newsDevelopmentNevadaNewsRestaurants

Bojangles Signs Development Agreement for 20 Restaurants in Las Vegas

by Hayden Spiess

Las Vegas —Bojangles has signed a development agreement for 20 new restaurants in Las Vegas, as well restaurants within 10 TravelCenters of America franchise locations. TravelCenters of America franchisee LVP Restaurant Group LLC, an entity of LV Petroleum, and its investment partner, Kingsbarn Realty Capital, will lead the projects. In partnership with LVP Restaurant Group, Kingsbarn will identify and acquire properties suitable for the new Bojangles developments. In July, Bojangles launched its expansion strategy, including a streamlined menu, new building design and new staffing model. 

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Seneca-Corner_Great-Falls-Va
Investment salesNewsVirginia

Marcus & Millichap Brokers $5.2 Million Sale of Shopping Center in Metro Washington, D.C.

by Hayden Spiess

Great Falls, Va. — Marcus & Millichap has brokered the $5.2 million sale of Seneca Corner, a 5,760-square-foot shopping center located in Great Falls, roughly 20 miles outside Washington, D.C. Tenants at the fully leased property include Jersey Mike’s, Domino’s and Five Guys. Dean Zang, David Crotts and Josh Ein of Marcus & Millichap arranged the sale on behalf of the seller, an entity related to the Republic Family of Cos. 

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Lazy-Acres_Los-Angeles
CaliforniaDevelopmentLeasingNews

Lazy Acres Opens 31,000-Square-Foot Store in Los Angeles

by Hayden Spiess

Los Angeles — Lazy Acres Natural Market has opened a 31,000-square-foot store in the Los Feliz neighborhood of Los Angeles, marking the sixth location for the brand. Landlord CGI+ Real Estate Investment Strategies developed the space after purchasing three adjacent properties, one of which was home to a 23,000-square-foot Rite Aid, in separate transactions. CGI+ reduced the existing building to its shell and core and rebuilt the structure with 8,500 square feet of new construction and added a parking lot. Lazy Acres offers natural and organic groceries, a bakery, coffee and …

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Northview-Plaza_Dallas
Grocery-anchoredInvestment salesNewsTexas

Westwood Acquires 120,000-Square-Foot Retail Center in Dallas

by Hayden Spiess

Dallas — Westwood Financial has acquired Northview Plaza, a 120,000-square-foot retail center located in Dallas. Tenants at the property, which is anchored by Kroger and was 89 percent leased at the time of sale, include Petco and McDonald’s. The transaction was executed directly with the undisclosed seller. 

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DevelopmentFloridaNews

Tavistock to Develop 405,000-Square-Foot Lake Nona West Shopping Center in Orlando

by Hayden Spiess

Orlando, Fla. — Tavistock Development has announced plans for Lake Nona West, a 405,000-square-foot shopping center to be located in the Lake Nona master-planned community in Orlando. Upon completion, the development will be situated on a 54-acre parcel and feature open-air shops, ground-level parking, outdoor entertainment spaces and public art. Tavistock has submitted site plans to the City of Orlando, and construction is scheduled to begin in 2024, with completion planned for fall 2025. Tenant announcements are expected this winter.

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Origin-at-Symphony-Park_Las-Vegas
DevelopmentMixed-useNevadaNews

Red Ridge Development Underway on Six-Acre Mixed-Use Project in Las Vegas

by Hayden Spiess

Las Vegas — Red Ridge Development is underway on Origin at Symphony Park, a six-acre mixed-use project located in downtown Las Vegas. The development will feature 100,000 square feet of retail space, a 32-story residential tower, mid-rise apartment building, outdoor promenade and office space upon completion, which is scheduled for 2026. The McGarey Group, a division of the Divaris Group, will manage leasing for the retail space at the project in partnership with Paragon Commercial Group. 

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Bolsa-Row-Terrace-Westminster-CA
CaliforniaDevelopmentNews

R.D. Olson Breaks Ground on 26,211-Square-Foot Shopping Center in Westminster, California

by Hayden Spiess

Westminster, Calif. — R.D. Olson has broken ground on Bolsa Row Terrace, a 26,211-square-foot shopping center project in Westminster’s Little Saigon District. The property will feature shopping and dining options overlooking a landscaped courtyard with al fresco bistro seating upon completion, which is planned for early 2024. This marks the second phase of a larger, six-acre project for developer IP Westminster.

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Retail-Pad_Modesto-Calif
CaliforniaInvestment salesNews

Hanley Brokers $4.1 Million Sale of Retail Pad in Modesto, California

by Hayden Spiess

Modesto, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.1 million sale of a retail pad building located in Modesto. Built in 2018 and situated within a Save Mart-anchored shopping center, the multi-tenant building totals 6,402 square feet. Tenants at the property include Pacific Dental Services, Mountain Mike’s Pizza and West Coast Sourdough Deli. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. A California-based buyer acquired the property. 

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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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