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FloridaInvestment salesNews

JLL Arranges Sale of 454,872-Square-Foot Mixed-Use Property in Florida

by Hayden Spiess

Lakeland, Fla. — JLL has arranged the sale of Lakeside Village, a mixed-use retail center located in Lakeland. The development comprises a total 541,465 square feet, 454,872 of which were included in the sale. Tenants at the property, which was developed in 2005, include CMX Cinemas, Belk, Books-A-Million, Kohl’s, Starbucks Coffee, Chili’s, Olive Garden, Longhorn Steakhouse and Famous Footwear. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented the undisclosed seller in the transaction. Continental Realty Corp. acquired the property for an undisclosed price. 

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Company newsMassachusettsNews

Christmas Tree Shops to Close All 70 Stores

by Hayden Spiess

Middleborough, Mass. — Massachusetts-based Christmas Tree Shops will close all of its roughly 70 stores, reports CNN. Previously, the chain planned to sell, following filing for Chapter 11 bankruptcy in May. Now, all stores will be closed, unless a last-minute buyer comes forward. Formerly, the brand was owned by Bed Bath & Beyond, which sold the concept to Handil Holdings in 2020 and filed for bankruptcy itself earlier this year. 

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Investment salesMinnesotaNews

Timber Development Sells 40,700-Square-Foot Retail Center in Minnesota

by Hayden Spiess

New Ulm, Minn. — Timber Development Corp. has sold Super Center Square, a retail center located in New Ulm. The property comprises 40,700 square feet adjacent to a 210,000-square-foot Walmart Supercenter. An undisclosed buyer acquired the property for $4.1 million. AJ Prins and Sean Doyle of CBRE brokered the transaction. 

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Walmart Supercenter
Investment salesNet leaseNew JerseyNews

Pegasus Arranges $55 Million Acquisition of Single-Tenant Property in New Jersey

by Hayden Spiess

Linden, N.J. — Pegasus Investments Real Estate Advisory Inc. and Pegasus Capital Markets Inc. have arranged the $55 million acquisition of a 186,000-square-foot single-tenant retail property located in Linden. Walmart Supercenter fully occupies the property, which is situated on 14 acres, with a 20-year triple net lease. Pegasus represented the buyer, a partnership of investors, in the transaction and secured acquisition financing. Mark Keener and Adam Block of Gallagher Evelius & Jones LLP served as counsel for the buyer. SRS National Net Lease Group represented the seller, a joint venture between …

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CaliforniaInvestment salesNews

Hanley Brokers Sale of Two Single-Tenant Properties Totaling $5.8 Million in Southern California

by Hayden Spiess

Imperial, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of two single-tenant retail properties located in Imperial for a total $5.8 million. Starbucks Coffee Drive-Thru occupies the first building, which comprises 2,089 square feet, on a 10-year lease. A private investor purchased the property for $2.9 million. The United States Postal Service leases the second building, which totals 5,430 square feet. An Indiana-based private partnership acquired the property for $2.9 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, 5th Street Development LLC, …

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Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 26,148-Square-Foot Shopping Center in Fort Worth, Texas

by Hayden Spiess

Fort Worth, Texas — Marcus & Millichap has brokered the sale of Sycamore Village Shopping Center, a 26,148-square-foot retail center in Fort Worth. The property is situated on 2.6 acres on the city’s southwest side. Tenants at the property include Cricket Wireless, H&R Block and The UPS Store. Joe Santelli of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was not disclosed.

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IllinoisInvestment salesNews

Quantum Arranges Sale of 9,589-Square-Foot Retail Center in Evanston, Illinois

by Hayden Spiess

Evanston, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of Church Street Plaza, a 9,589-square-foot retail center located in Evanston. Tenants at the property include Semper Laser, Pure Barre, Noodles & Co., CycleBar and Big Wig Tacos. Dan Waszak and Zack Hilgendorf of Quantum represented the seller, GW Properties. T SW Neighborhood Centers II, an affiliate of Shannon Waltchack, acquired the property for an undisclosed price. 

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CaliforniaLeasingNews

Three Tenants Join Carlsbad Arcade in the Village 

by Hayden Spiess

Carlsbad, Calif. — Three new tenants have signed leases at Carlsbad Arcade in the Village, a retail center comprising 13,000 square feet in Carlsbad, roughly 35 miles north of San Diego. Village Florist Co., Carlsbad Golf Carts and Joey Snow Design Co. will occupy 1,180; 1,250 and 1,060 square feet, respectively. Serena Patterson and Luke Holler of Urban Property Group represented both the tenants and the landlord, Carlsbad One LLC, in the leasing transactions. 

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ArizonaDevelopmentMixed-useNews

Indicap, Colmena Group, Langley Properties Receive Town Approval for $1 Billion Mixed-Use Project in Gilbert, Arizona

by Hayden Spiess

Gilbert, Ariz. — The Town of Gilbert, a suburb southeast of Phoenix, has approved the zoning request for a 311-acre mixed-use development called The Ranch. Indicap, Colmena Group and Langley Properties are leading the project and estimate development costs of more than $1 billion. Upon completion, The Ranch will offer 221 acres of light industrial space, 39 acres of commercial space, 39 acres of multifamily space and 16 acres of public green space. The commercial space is expected to include restaurants, storage, convenience stores, office space, a fitness center, small grocer …

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Grocery-anchoredIndianaInvestment salesNews

Northmarq Arranges Acquisition of 132,156-Square-Foot Retail Center in Indianapolis

by Hayden Spiess

Indianapolis — Northmarq has arranged the acquisition of Clearwater Springs Shopping Center, a 132,156-square-foot retail center located in Indianapolis. ALDI, Haverty’s Furniture and Michaels anchor the property, which is situated on 34.5 acres. Other tenants at the center include Starbucks Coffee, Athletico, David’s Bridal and AT&T. Blaise Bennett of Northmarq represented the Ohio-based buyer in the transaction. Wes Podell of Podell Partners represented the undisclosed seller. 

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