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Market-Square_Fort-Myers
FloridaInvestment salesNews

Cushman & Wakefield Arranges Sale of 118,583-Square-Foot Shopping Center in Fort Myers, Florida

by Katie Sloan

Fort Myers, Fla. — Cushman & Wakefield has arranged the sale of Market Square, a 118,583-square-foot shopping center located in Fort Myers. An affiliate of Centro Corp., a Florida-based shopping center owner and operator, purchased the property for an undisclosed price. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an affiliate of Nuveen Real Estate, in the transaction. Built in 1993, Market Square was fully leased at the time of sale to tenants including DSW, Total Wine and More and American Signature Furniture. The …

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McDonalds-Clearwater
FloridaInvestment salesNews

SRS Brokers $3.1 Million Sale of McDonald’s Ground Lease in Clearwater, Florida

by Katie Sloan

Clearwater, Fla. — SRS Real Estate Partners has brokered the $3.1 million ground-lease sale of a 5,447-square-foot McDonald’s restaurant in Clearwater. The restaurant was built in 2014 on a 1.4-acre site at 2871 Gulf to Bay Blvd., about 17 miles west of Tampa. Sean Lutz and Dan Elliot of SRS’ Chicago office represented the seller, a private investor based in Florida, in the transaction. The buyer, a New York-based private investor, purchased the land in a 1031 exchange at a closing cap rate of 3.87 percent, which is the lowest …

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Escondido-Commons-Escondido-CA
CaliforniaInvestment salesNews

Marcus & Millichap Arranges Sale of 8,388-Square-Foot Escondido Commons Retail Property in California

by Katie Sloan

Escondido, Calif. — Marcus & Millichap has brokered the sale of Escondido Commons, a retail property in the San Diego suburb of Escondido. Garry Hanafin of The Hanafin Family Trust sold the asset to Bobby Hrdina of STNC Properties LLC for $1.6 million. Located at 145-49 S. Orange St. and 412-20 W. 2nd Ave., Escondido Commons offers 8,388 square feet of space in 12 retail suites spread across three adjacent buildings and two parking lots. At the time of closing, the center was fully leased to nine tenants. Nick Totah …

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Amherst-Shopping-Center_Massillon-Ohio
Investment salesNewsOhio

Axiom Purchases 98,385-Square-Foot Amherst Shopping Center in Ohio

by Katie Sloan

Massillon, Ohio — Axiom Realty has purchased Amherst Shopping Center, a 98,385-square-foot shopping center located in Massillon. Marc’s anchors the property, which was 64 percent occupied at the time of sale. Other tenants at the center include Dollar General and a fitness retailer. Jonah Warshaw and Jacob Baruch of Legacy Realty Group Advisors brokered the transaction. 

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Investment salesMassachusettsNews

DLC Acquires Colony Place in Metro Boston for $86 Million

by Katie Sloan

Plymouth, Mass. — DLC has acquired Colony Place, a shopping center located in Plymouth in metro Boston, for $86 million. DLC purchased the property as part of joint venture with Temerity Strategic Partners (TSP). According to a press release issued by the company, DLC launched the venture in December 2023, with plans to double its portfolio by 2025. Principal Asset Management acted as adviser for the transaction. 

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South Terrace Plaza
Investment salesNewsTennessee

Marcus & Millichap Brokers $5.3 Million Sale of Retail Center in Chattanooga

by Katie Sloan

Chattanooga, Tenn. — Marcus & Millichap has brokered the $5.3 million sale of South Terrace Plaza, a 46,700-square-foot retail center located in Chattanooga. The property, which is shadow anchored by AMC Theatres, was 94 percent leased at the time of sale to 12 tenants. According to Marcus & Millichap, six new leases have been executed at the center within the past year. Zach Taylor and Eric Abbott of Marcus & Millichap office represented the seller, a Tennessee-based developer, in the transaction. Jody McKibben of Marcus & Millichap served as the broker …

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Company newsNewsVirginia

Divaris Group Acquires S.T. Burke Retail Partners

by Katie Sloan

Virginia Beach, Va. — Virginia Beach-based Divaris Group has acquired S.T. Burke Retail Partners, a retail tenant representation and corporate services company founded in 2014. As part of the acquisition, Sean Burke, founder of S.T. Burke, will join Divaris as principal, national retail markets and retail corporate services. Burke’s tenure in the field includes experience representing brands including Punch Bowl Social, Wagamama, Voicebox Karaoke, Paladar Latin Kitchen, Bomba Taco Bar, Tin Shop Restaurant Group, Gap, Banana Republic, Old Navy, DSW, Urban Outfitters, Anthropologie, Free People, Terrain, Carhartt and Paper Source. Burke …

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The-Switchyard
ArizonaDevelopmentMixed-useNews

Creation to Break Ground on $120 Million The Switchyard Mixed-Use Development in Suburban Phoenix

by Hayden Spiess

Queen Creek, Ariz. — Development firm Creation is set to break ground on The Switchyard, a $120 million mixed-use development located at the northeast corner of Ellsworth and Ocotillo roads in the Phoenix suburb of Queen Creek.  Plans for the 10-acre project include the development of 54,000 square feet of restaurant, retail, residential and office space. The retail portion of the development will include a 3,800-square-foot Postino wine café and an 11,900-square-foot restaurant called The Porch, which will include an expansive outdoor patio.  Creation plans to break ground on the multi-phase …

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Family-Dollar
Company newsNewsVirginia

Dollar Tree Explores Future of Family Dollar Business Segment, Including Possible Sale

by Hayden Spiess

Chesapeake, Va. — Dollar Tree Inc. (NASDAQ: DLTR) has announced a formal review of its Family Dollar business segment, including the possibility of selling, spinning off or otherwise disposing of the brand. In March, Dollar Tree announced the closure of 1,000 stores nationally, roughly 970 of which were underperforming Family Dollar stores. Additionally, Dollar Tree recently acquired designation rights for 170 former 99 Cents Only store leases. “Dollar Tree has been on a multi-year journey to help the company fully achieve its potential,” says Rick Dreiling, chairman and CEO of Dollar …

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Panthers
DevelopmentNewsNorth Carolina

Carolina Panthers Propose $1.3 Billion in Renovations to Bank of America Stadium

by Hayden Spiess

Charlotte, N.C. — The NFL’s Carolina Panthers have unveiled plans for a renovation of its Bank of America Stadium in Charlotte totaling $1.3 billion.   Highlights of the renovation include a park-like setting and exterior video boards for watch parties at the stadium’s entrance. Once inside, fans would experience a new sound system, scoreboard and video boards. Plans call for social areas with skyline views, improved concessions with regional offerings and an expanded team store. Additional improvements include new seats installed throughout the bowl; improved accessibility throughout the facility; stadium safety and …

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