News

Keystone Construction Completes $4 Million Outdoor Entertainment Space in Metro St. Louis

by Hayden Spiess May 30, 2023

Chesterfield, Mo. — Keystone Construction Co. has completed Hub Stl, a $4 million outdoor entertainment space at The District of St. Louis in Chesterfield, roughly 20 miles outside St. Louis. The District is devoted to live music, food and beverage concepts and retail space. Construction on Hub Stl, which features a performance stage and viewing area with a 400-person capacity, began last fall. A large LED screen and sound and lighting system will be installed later this summer. The performance area will be encircled by local restaurants with patios, a brewery …

May 30, 2023

Company news New York News

Global Net Lease to Acquire Necessity Retail REIT, Creating $9.6 Billion Shopping Center Company

by Hayden Spiess May 26, 2023

New York City — Global Net Lease (NYSE: GNL) and The Necessity Retail REIT (NASDAQ: RTL) have entered into a merger agreement under which GNL will acquire RTL in an all-stock transaction. The combined company is expected to own and manage over 1,350 properties with an aggregate real estate asset value of approximately $9.6 billion. Under terms of the merger agreement, GNL stockholders are expected to own approximately 45 percent of GNL post-closing, RTL stockholders are expected to own about 39 percent, and the owner of the former external manager are …

May 26, 2023

Grocery-anchored Investment sales Massachusetts News

Newmark Brokers $45.2 Million Sale of Shopping Center in Metro Boston

by Hayden Spiess May 26, 2023

Hingham, Mass. — Newmark has brokered the $45.2 million sale of Lincoln Plaza, a 127,505-square-foot shopping center located in Hingham, approximately 20 miles outside Boston. A 68,087-square-foot Stop & Shop grocery store and a 31,882-square-foot Marshalls anchor the center, which was 99 percent leased at the time of sale. Robert Griffin, Jon Martin, Paul Penman and Matthew Adler of Newmark represented the seller, AEW, in the transaction and procured the buyer, a subsidiary of Jumbo Capital Inc. Casey O’Brien and Connor Scott of Newmark provided financial analysis support for the deal.

May 26, 2023

California Investment sales News

NAI Arranges $6.7 Million Sale of Retail Center in Torrance, California

by Hayden Spiess May 26, 2023

Torrance, Calif. — NAI Capital Commercial has brokered the $6.7 million sale of Sylvia Square, a retail strip center located in Torrance. Built in 1974, the property comprises 15,234 square feet. Sheri Messerlian and David Shaby of NAI represented the seller, an entity doing business as Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, in the transaction.

May 26, 2023

California Investment sales News

Beta Arranges $5.8 Million Sale of Freestanding Retail Property in San Diego

by Hayden Spiess May 26, 2023

San Diego — Beta Agency has arranged the $5.8 million sale of a freestanding retail property located in San Diego. CVS/pharmacy occupies the 16,972-square-foot building. Adam Friedlander of Beta represented the buyer, a private local investor. Connor Olandt of Matthews REIS represented the seller, Tian Ren Di LLC.

May 26, 2023

Development Leasing New York News

Lidl to Open 34,484-Square-Foot Grocery Store at Glen Oaks Shopping Center in New York City

by Hayden Spiess May 26, 2023

New York City —Lidl will open a 34,484-square-foot store at Glen Oaks Shopping Center in the borough of Queens in New York City. Ken Schuckman of Schuckman Realty represented Lidl in the lease negotiations. Randall Briskin represented the landlord, The Feil Organization, on an internal basis. The store, which is scheduled to open sometime next year, will be Lidl’s third in the borough.

May 26, 2023

Heritage-Park-Plaza-East-Longmeadow-Mass

Grocery-anchored Investment sales Massachusetts News

ShopOne Acquires 117,337-Square-Foot Retail Center in East Longmeadow, Massachusetts

by Hayden Spiess May 25, 2023

East Longmeadow, Mass. — ShopOne Centers REIT Inc., with joint venture partners Pantheon and an undisclosed institutional investor, has acquired Heritage Park Plaza, a 117,337-square-foot retail center located in East Longmeadow, a suburb of Springfield. Stop & Shop anchors the property, which was 98 percent leased at the time of sale. Other tenants at the center include Petco, Orangetheory Fitness, Panera Bread, Dollar Tree, Pure Barre, 99 Restaurant and Pub and H&R Block.

May 25, 2023

Investment sales News North Carolina

Divaris Brokers $14.8 Million Sale of Shopping Center in Waynesville, North Carolina

by Hayden Spiess May 25, 2023

Waynesville, N.C. — Divaris Real Estate has brokered the $14.8 million sale of Russ Avenue Plaza, a shopping center located in Raleigh. Situated on 17 acres, the property formerly housed a Kmart. Jessica Johnson of Divaris represented the seller, an entity doing business as Russ Avenue Plaza LLC, in the transaction.

May 25, 2023

Development Missouri News

IAS Partners Begins Development of 15,000-Square-Foot Retail Building in Kansas City

by Hayden Spiess May 25, 2023

Kansas City, Mo. — IAS Partners has begun development of a 15,000-square-foot, multi-tenant retail and restaurant building at Metro North Crossing, a mixed-use project in Kansas City. The facility is located adjacent to the newly opened Hawaiian Bros Island Grill and Whataburger. Construction of the shell building is scheduled for December, with tenants expected to open in spring 2024. Metro North Crossing is also home to T-Shotz, a 52,000-square-foot golf entertainment venue.

May 25, 2023

Development Georgia Leasing News Restaurants

terra alma to Curate Food Hall in Metro Atlanta

by Hayden Spiess May 25, 2023

Chamblee, Ga. — terra alma has been selected to curate the vendor lineup at Chamblee Tap & Market, a taproom and micro food hall project currently underway in Chamblee, roughly 15 miles outside Atlanta. Scheduled to open by early 2024, the development will feature Sidecar Coffee and a taproom equipped with 20 taps, as well as three food stalls. Jeff Kimmel and David Heymann are the owners of the property.

May 25, 2023

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