News

Bridgewater-Commons-Bridgewater-N.J

Bridgewater, N.J. — Pacific Retail Capital Partners (PRCP) has acquired Bridgewater Commons, a 1.2 million-square-foot mall located in Bridgewater, roughly 40 miles outside New York City, for an undisclosed price. The Village at Bridgewater Commons, an adjacent 94,000-square-foot open-air shopping center, was included in the acquisition. Tenants at the mall include Bloomingdale’s, Macy’s, Apple, J. Crew, lululemon, Athletica, Williams-Sonoma, The Cheesecake Factory, AMC Dine-In Theatres, LOFT, Maggiano’s Little Italy, Shake Shack and Starbucks Coffee.  PRCP has assumed the property’s existing loan and secured an extension, with plans to transform the …

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Meadows-Village-Center-Temecula-Calif

Temecula, Calif. — CBRE has brokered the $27.7 million sale of Meadows Village Center, a 67,336-square-foot retail center located in Temecula. Barons Market anchors the center, which was 96 percent leased at the time of sale. Other tenants include Starbucks Coffee, Wells Fargo, Palomar Health, Subway, Crumbl Cookies, The UPS Store and Pacific Dental. The property also features a CVS/pharmacy, which was not included in the sale. Jimmy Slusher, Philip Voorhees and James Tyrrell of CBRE represented the seller, funds managed by affiliates of Fortress Investment Group LLC, in the …

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Slim-Chickens

Fayetteville, Ark. — Fast casual franchise Slim Chickens has signed a deal to expand into Southeast Michigan with 25 restaurants. Partners Brad DeLange, Todd DeLange and Doug Broadright will lead the restaurant’s Great Lakes division and bring the brand to locations in the Detroit and Ann Arbor metropolitan areas. Slim Chickens has opened more than 225 locations in the U.S. and the U.K. and has more than 1,100 restaurants in development.

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Alpha-Soda-Center-Alpharetta-Ga

Alpharetta, Ga. — Franklin Street has arranged the $9.4 million sale of Alpha Soda Center, a 14,625-square-foot strip shopping center located in the Atlanta suburb of Alpharetta. An entity doing business as Stonewalk Alpha III LLC sold the property, which underwent renovations in 2021, to an undisclosed buyer. Bryan Belk and John Tennant of Franklin Street’s Retail Investment Sales Team brokered the transaction on behalf of the seller.

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Centro-Austin-Texas

Austin, Texas — Four new tenants have signed leases at Centro, a mixed-use development spanning two blocks in Austin. Pure Barre, Brooklyn Dumpling Shop, Birds Barbershop and Full Ride Cycling will occupy spaces within 15,000 square feet of ground-floor retail space at the property. Jeremy Smitheal, Win Smith and Bennett Holcomb of Riverside Resources represented the landlord in the leasing negotiations.

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South-Sierra-Plaza-Fontana-Calif

Fontana, Calif. — Progressive Real Estate Partners has arranged the $6 million sale of South Sierra Plaza, a 17,250-square-foot strip retail center located in Fontana. Comprising 12 units, the property was 93 percent leased at the time of sale to tenants including a dentist, nail salon, Armed Forces career center, staffing agency, Japanese restaurant and Peruvian restaurant. Brad Umansky and Lance Mordachini of Progressive represented the seller, a private Los Angeles-based investor, in the transaction. Paul Galmarini and Albert Lopez, also of Progressive, handled leasing at the property prior to …

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4756-W-Cal-Sag-Road

Chicago — Colliers has arranged the $10.5 million sale of a portfolio comprising seven retail properties and one industrial building in metro Chicago. The sale represents the first part of a multi-phase transaction that includes 22 retail properties, three land sites and one industrial building. Peter Block and Rachel Patten of Colliers represented the seller, a family office, in the disposition of the properties to Arnold Meyer & Co. Block expects to close on the remaining properties in the portfolio this summer.

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Frisco, Texas — SHOP Cos. has brokered the sale of Custer Road Commons, a 23,609-square-foot shopping center located in Frisco, roughly 30 miles north of Dallas. Situated on 4.3 acres, the center was fully leased at the time of sale to tenants including Starwood Café, My Eyelab, Jason’s Deli, Zenith Clinic and Novuskin. Tim Axilrod and Tayler Rose of SHOP Cos. represented the undisclosed seller in the transaction.

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Starbucks-West-Windsor-N.J

West Windsor, N.J. — Starbucks Coffee has opened a 3,000-square-foot café in West Windsor. Situated within The Square at West Windsor, a 220,000-square-foot shopping center, the location includes a drive-thru lane, conference room and outdoor seating patio. Starbucks now leases a portion of the space formerly occupied by Pier 1 Imports. The Container Store will also open at the center in 2024, which is anchored by Lowe’s and Trader Joes. Garden Commercial owns the property.

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Coronado-Plaza-Coronado-Calif

 Coronado, Calif. — CBRE has brokered the $40 million sale of Coronado Plaza, a 41,949-square-foot retail center located in Coronado. Built in 1981, the three-story property is situated on one block across from the Hotel Del Coronado. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the seller, an entity doing business as PREF Coronado Plaza LLC, in the transaction.

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