Houston — Three new tenants have signed leases at Rice Village District, a shopping center located in Houston. Boutique Luminary Lifestyle, jewelry brand gorjana and apparel retailer Mizzen+Main are scheduled to open spaces at the property in early 2024. Bluestone Lane, [solidcore], The Rice Box and Navy Blue also recently opened at the center.
Brandon, Fla. — Unibail-Rodamco-Westfield (URW) has sold Westfield Brandon, a regional shopping mall located roughly 13 miles outside Tampa in Brandon, for $220 million. The property, which totals 1.2 million square feet, was approximately 85 percent leased at the time of sale. Dick’s Sporting Goods and a space formerly occupied by Sears anchor the property. The sale also included a three-acre parcel approved for 180,000 square feet of commercial space as well as a seven-acre development parcel. North American Development Group purchased the center through a joint venture with an institutional …
Jenkintown, Pa. — Prestige Group has arranged a $20 million loan for the refinancing of an 81,500-square-foot retail and office property in Jenkintown, a northern suburb of Philadelphia. The property comprises a 42,000-square-foot retail building occupied by LA Fitness, a 35,500-square-foot vacant office building and a 4,000-square-foot restaurant. Richard Natow of Prestige Group secured the loan through an undisclosed regional bank. The undisclosed borrower will use a portion of the proceeds to fund capital improvements.
Servierville, Tenn. — Buc-ee’s will open a 74,000-square-foot travel center in Sevierville, roughly 30 miles southeast of Knoxville, marking the second location in the state for the brand and the largest travel center in the world. Scheduled to open at the end of June, the center will feature 120 fueling stations in addition to a store and car wash. Buc-ee’s, which currently operates 46 locations, is additionally underway on a 75,000-square-foot center in Texas and announced its first Virginia location in March of this year.
Torrance, Calif. — Faris Lee Investments has arranged the $8 million sale of a retail outparcel located in Torrance, roughly 20 miles outside Los Angeles. Situated within South Bay Towne Center, the outparcel building was fully leased at the time of sale to tenants including Starbucks Coffee, Subway, Flame Broiler, Sushi Boy, Great Steak and Hong Kong Express. Walmart was the buyer. JP Morgan provided financing for the purchase.
Atlanta — Scofflaw Brewing Co. will open a 5,500-square-foot space at Oxton, a 35,000-square-foot food and retail project to be developed by Ardent Cos., Westbridge and Bridger Properties at the Piedmont Center office campus in Atlanta. Scheduled to open in 2024 and marking the first tenant at the development, the taproom and brewery will feature access to an adjoining courtyard. Square Feet Studio Architects is leading the design of Oxton, which was announced earlier this year. Bridger is handling retail leasing at the property.
Canton, Ga. — Acadia Realty Trust has received a $36 million loan for the refinancing of Canton Marketplace, a 335,445-square-foot shopping center in Canton, roughly 40 miles north of Atlanta. The property is 95 percent leased to tenants including Dick’s Sporting Goods, Best Buy, T.J. Maxx and pOpshelf. Mike Ryan, Brian Linnihan, Richard Henry and JP Cordeiro of CBRE secured the financing on behalf of Acadia through Voya Investment Management.
Henrico and Midlothian, Va. — H.I.G. Realty Partners has purchased a shopping center portfolio for $110 million and formed a joint venture partnership with Rosenthal Properties and FarmViewVentures. Totaling 592,000 square feet, the portfolio includes Parham Plaza, Ridge Shopping Center and Staples Mill Square in Henrico, roughly 10 miles outside Richmond and Stonehenge Village Center in Midlothian, roughly 15 miles outside Richmond. The portfolio was approximately 95 percent leased at the time of sale to tenants including Wegmans, Walmart, The Fresh Market and Aldi. Todd Soloway, Danielle Schechner, Ari Tran, Benjamin …
Sunrise, Fla. — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided a $12.8 million bridge loan for Pine Island Plaza, a 104,000-square-foot, grocery-anchored shopping center in Sunrise. The borrower was not disclosed. The South Florida shopping center comprises 21 tenants, including an unnamed national grocer that will open its doors in June.
Orlando, Fla. — Marcus & Millichap has arranged the $7.2 million sale of a single-tenant property located in Orlando. CVS/pharmacy occupies the 13,616-square-foot building on a net-lease basis. Ronnie Issenberg, Gabriel Britti and Ricardo Esteves of Marcus & Millichap represented the undisclosed seller in the transaction.