Warsaw, Ind. — JLL Capital Markets has arranged the sale of Warsaw Commons, an 87,858-square-foot shopping center in Warsaw, roughly 40 miles northwest of Fort Wayne. Built in 2012, the property was fully leased at the time of sale to tenants including TJ Maxx, PetSmart, Ulta Beauty, Dollar Tree and Shoe Carnival. Michael Nieder of JLL represented the seller, IRC Retail Centers. Nate Monson and Brandon Goodman of Colliers represented the buyer, The Lofts at 5 Points LLC.
Bradenton, Fla. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the $12.1 million sale of Southwood Shops, a 107,697-square-foot shopping center located in the Tampa suburb of Bradenton. Kirk Olson and Drew Kristol of IPA represented the seller, an entity doing business as Bradwood Shopping Center Co. Ltd., and procured the buyer, a Miami-based partnership doing business as Southwood Shops LLC. Built in 1981, Southwood Shops was fully leased at the time of sale to tenants including Winn-Dixie.
Beaumont, Calif. — Wood Investments Cos. Has sold a 4,000-square-foot single-tenant retail pad building located in Beaumont. The company recently developed the property, which is occupied by Sherwin Williams on a net-lease basis. Lee Csenar and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller in the $3.2 million transaction. Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the Hemet, California-based buyer. The retail pad is located adjacent to San Gorgonio Village, a 78,000-square-foot shopping center developed and owned by Wood Investments.
Hudson, Mass. —Horvath & Tremblay has arranged the $21.9 million sale of Center at Hudson, a shopping center located in Hudson. A 58,266-square-foot freestanding Stop & Shop anchors the property, which includes an additional 26,339 square feet. Bob Horvath and Todd Tremblay of Horvath & Tremblay brokered the sale on behalf of the undisclosed seller and procured the buyer.
Oklahoma City— The Medallion Group has broken ground on The Stacks, a 34,000-square-foot retail project in Oklahoma City. Tenants that have committed to the development include Mediterranean restaurant Cava, fast-casual eatery Pickleman’s and locally based food-and-beverage concept The Surf Bar. Additional retail and medical users will be announced later this year. The Stacks is scheduled to open in the first half of 2024.
Mechanicsville, Va. — WEDGE Acquisitions LLC has purchased a 1.73-acre parcel in Mechanicsville for $690,000 for the development of a retail strip center. Upon completion, the property will comprise 6,500 square feet. Dunkin’ Donuts will anchor the center. Nathan Shor represented WEDGE in the transaction and Douglas Tice, III represented the seller, Lisa Waitman. It should be WEDGE, yes?
Brookfield, Wis. — Bellwether Enterprise Real Estate Capital (BWE) has arranged a $6.2 million loan for the acquisition of Shoppes of Brookfield Commons, a retail center located in the Milwaukee suburb of Brookfield. The two-building property totals 42,356 square feet. At the time of loan closing, the center was 54 percent leased. Ryan Morris of BWE arranged the loan on behalf of the borrower, CapRock Real Estate. Ameritas Investment Partners provided the three-year loan, which features a fixed interest rate along with $1 million of future funding for capital improvements …
Delray Beach, Fla. — PEBB Enterprises has signed new leases totaling 27,099 square feet at Delray Landing, a shopping center the company is currently redeveloping in Delray Beach. Retro Fitness will occupy 17,299 square feet at the property and Crown Wine will lease 4,100 square feet. Keke’s Breakfast Café and a dentist office will also open at the center, leasing 4,200 and 1,500 square feet, respectively. Sprouts Farmers Market anchors the property, which is also leased to Burger King and Taco Bell. PEBB acquired the shopping center in June 2021 …
Riverhead, N.Y. — JLL Capital Markets has arranged the sale of Riverhead Centre, a 395,000-square-foot retail center located on Long Island in Riverhead. ShopRite and The Home Depot anchor the property, which comprises nine buildings and was 99 percent leased at the time of sale. Other tenants include Best Buy, Petco, Michaels, DSW, Famous Footwear, Barnes & Noble, Ashley Home Store and IHOP. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Mark Belenky of JLL brokered the transaction on behalf of the seller, an entity doing business as AFL-CIO Building Investment …
Roswell, Ga. — iBorrow has provided a $15.6 million loan for the acquisition of a retail center located in Roswell, roughly 20 miles north of Atlanta. Totaling 56,921 square feet, the property is leased to 13 tenants. The borrower was not disclosed.
