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Gateway Shoppes at Five Points
FinanceIllinoisInvestment salesNews

Marcus & Millichap Arranges Sale, Financing of Retail Property in Urbana, Illinois

by Abby Cox

Urbana, Ill. — Marcus & Millichap has brokered the $3.4 million sale of Gateway Shoppes at Five Points, a 12-suite retail property located in Urbana. Built in 2011, the center comprises two multi-tenant strip centers totaling roughly 30,000 square feet. The property was 95 percent leased at the time of sale. Jeremie Johnson and Nathan Whalen of Marcus & Millichap represented the seller, Prairie Holdings Newton LLC, in the transaction. David O’Keefe, Steve Bogoyevac and Johnathan Weir of Marcus & Millichap procured the buyer, Nikolas Chugay. Michael Derk of Marcus …

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FloridaInvestment salesNews

Principal Asset Management Sells 204,000-Square-Foot Shopping Center in Lake Worth, Florida

by Abby Cox

Lake Worth, Fla. — Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. Acadia Realty Trust purchased the property through its investment management platform for $68 million. The property was 99 percent leased to 42 tenants at the time of sale. Retailers at the center include T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray Medical Center. The property also includes six outparcel buildings that are leased to Chase Bank, PNC Bank, Autozone, Outback Steakhouse, …

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FinanceNewsTexas

Stratus Obtains $24 Million Refinancing Loan for Mixed-Use Property in College Station, Texas

by Abby Cox

College Station, Texas — Stratus Properties Inc. has obtained a $24 million loan to refinance Jones Crossing, a mixed-use project located in College Station, roughly two miles from Texas A&M University. The new non-recourse loan matures in April 2028 and has generated approximately $1.2 million in net cash proceeds. A 106,000-square-foot H-E-B grocery store anchors the center, which which also features an additional 47,000 square feet of retail and restaurant space. Tenants at the property include Oishi Sushi, Chick-fil-A, Threads Boutique and Supercuts.

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Goodnoe's Corner
Grocery-anchoredInvestment salesNewsPennsylvania

Marcus & Millichap Brokers Sale of Two Retail Centers Totaling 122,365 Square Feet in Metro Philadelphia

by Abby Cox

Newtown and Bensalem, Pa. — Marcus & Millichap has brokered the sale of two retail centers in Pennsylvania totaling 122,365 square feet. The properties include Goodnoe’s Corner in Newtown and Village Center in Bensalem. Goodnoe’s Corner — originally built in 2008 — totals 34,660 square feet. Tenants at the property include AT&T Wireless, Madison Dental, Jule’s Thin Crust, Firstrust Bank, Apple Cleaners and Green Parrot Restaurant. Originally constructed in 1976 and renovated in 1999, Village Center is anchored by Acme Markets and comprises 87,705 square feet. Other tenants at the …

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Investment salesMassachusettsNews

Atlantic Capital Partners Arranges Sale of 71,297-Square-Foot Shopping Center in North Attleboro, Massachusetts

by Abby Cox

North Attleboro, Mass. — Atlantic Capital Partners has arranged the $18 million sale of Lantern Plaza, a 71,297-square-foot shopping center located in North Attleboro, approximately 38 miles southwest of Boston. Renovated in 2018, supermarket chain Stop & Shop has anchored and leased the property since 1993; the center now also houses Asian restaurant New Shogun. Justin Smith, Chris Peterson, Sam Koonce and Danielle Turpin of Atlantic Capital Partners represented the seller in the transaction. Additional terms of the sale were not disclosed.

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Dellagio Town Center
FloridaInvestment salesNews

CORE Acquires 109,489-Square-Foot Retail Center in Orlando, Florida

by Abby Cox

Orlando, Fla. — Core Investment Management (CORE) has acquired Dellagio Town Center, a 109,489-square-foot mixed-use retail center in Orlando, for $37.5 million. Located along the Dr. Phillips retail corridor, the multi-tenant center features 30 different brands including AdventHealth Medical Group, Nola’s Ice Cream, Fleming’s Prime Steakhouse & Wine Bar, Fred Astaire Dance Studios and Fifth Third Bank. CORE plans to enhance the property with an improved tenant mix and aesthetic renovations.

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Northland Square
Investment salesIowaNews

Hanley Investment Brokers Sale of 106,500-Square-Foot Shopping Center in Cedar Rapids, Iowa

by Abby Cox

Cedar Rapids, Iowa — Hanley Investment Group has brokered the $17.5 million sale of Northland Square, a 106,500-square-foot shopping center located in Cedar Rapids. Built in 1994 and renovated in 2000, the center is situated on roughly 10 acres. The property was fully leased at the time of sale to a mix of national retailers including T.J. Maxx, Barnes & Noble, OfficeMax, Old Navy, Famous Footwear and Hallmark. Jeff Lefko and Bill Asher of Hanley Investment Group, in association with ParaSell Inc., represented the seller, a Midwest-based private partnership, in …

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DelawareFinanceMixed-useNews

Lument Arranges $14 Million Refinancing for Mixed-Use Development in Lewes, Delaware

by Abby Cox

Lewes, Del. — Lument has arranged a $14 million mortgage for the refinancing of Mi-Place at Vineyards, a 65,000-square-foot mixed-use development in Lewes. New Jersey-based developer Fernmoor was the borrower. Ben Retter of Lument’s Debt Capital Markets team arranged the CMBS loan, which carries a five-year, fixed interest rate. The loan will replace existing debt from a local bank. Mi-Place at Vineyards is part of a master-planned community that includes retail space, multifamily buildings, residential condominiums, carriage homes, townhouses and a grocery store. Beginning in 2010, construction for the property …

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Meijer store interior
Company newsDevelopmentGrocery-anchoredMichiganNews

Meijer To Open Three Supercenters in Northeast Ohio

by Abby Cox

Grand Rapids, Mich. — One-stop shopping concept Meijer will open three new supercenters in Northeast Ohio. The 159,000-square-foot stores will be located in Austintown, Medina and Richmond Heights, bringing the Michigan-based retailer’s store count to 58 in the state. The supercenters will offer customers fresh produce, bakery, meat, seafood and deli departments, a garden center and home goods section, as well as a full-service pharmacy. Additionally, a Meijer Express gas station will open adjacent to the Austintown location on April 10. The new supercenter locations are scheduled to open May …

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JOANN storefront
Company newsFinanceNewsOhio

GA Group, A&G to Auction 790 JOANN Store Leases

by Abby Cox

Hudson, Ohio — GA Group and A&G Real Estate Partners plan to auction 790 JOANN store leases and five distribution centers in 49 states in April. The plans follow JOANN’s Chapter 11 bankruptcy filing in January, the second bankruptcy filing for the retailer within 12 months. GA Group was selected to monetize all of JOANN’s assets and has begun winding down ongoing operations at all the retailer’s locations. The majority of JOANN stores will stay open for going-out-of-business sales through May 2025, or until supplies run out. The leases range in size …

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