Middleton, Mass. — Matthews Real Estate Investment Services has negotiated the $7.7 million sale of a 14,440-square-foot retail property located in Middleton, a northern suburb of Boston. Walgreens occupies the property on a net-lease basis. Grant Korn and Maxx Bauman of Matthews Real Estate represented the seller, Newport Property Corp., in the transaction. A New York-based private investor acquired the asset via a 1031 exchange.
New York City — Primark has signed a lease at Queens Center, a retail property located in the New York City borough of Queens. The Irish retail brand will occupy a 54,562-square-foot, multi-level space at the center, which is owned by Macerich. Other tenants at the property include Macy’s, abercrombie kids, Apple, Adidas, Champs Sports, Pandora, Sephora, Victoria’s Secret, Chick-fil-A, Shake Shack and The Cheesecake Factory.
Frisco, Texas — Centergy Retail has broken ground on Lexington Village, a 100,000-square-foot retail center located in Frisco, approximately 30 miles north of Dallas. A 58,000-square-foot Tom Thumb will anchor the shopping center, which is situated within the 600-acre, master-planned Lexington development. Scheduled to open in spring 2024, the store will feature an in-store Starbucks Coffee kiosk, a pharmacy with a drive-thru, electric vehicle charging stations and drive-up-and-go grocery pickup. An additional 32,000 square feet of shops and three pad sites are scheduled for delivery in August 2023. Pre-leasing is …
New Port Richey, Fla. — Franklin Street has arranged the sale of a 104,201-square-foot, single-tenant retail property located in New Port Richey, roughly 40 miles northwest of Tampa. Grant Equities LLC acquired the property for $7.2 million. Bryan Belk, John Tennant and Zack McNamara of Franklin Street represented the seller, an affiliate of Vanguard Associates Inc. Built in 1987 and situated within Pasco Square shopping center, the building is fully occupied by retailer Bealls. Zack McNamara of Franklin Street previously negotiated a new, long-term lease with the tenant on behalf …
Charlotte, N.C. — Marcus & Millichap has arranged the $3.3 million sale of Big Blue Marble Academy, a net-leased childcare property located in Charlotte. Dominic Sulo of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a New Jersey-based limited liability company, and secured the 1031-exchange buyer, a Chicago area multifamily LLC. Andrean Angelov and Ryan D. Engle of Marcus & Millichap and Benjamin Yelm, the North Carolina broker of record, assisted in closing the transaction.
Moreno Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million pre-sale of a new construction car wash property located in Moreno Valley, within the Moreno Valley Marketplace shopping center. Quick Quack Car Wash will occupy the property on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley — in association with Jason Gordon of Epsteen & Associates — arranged the sale on behalf of the developer and seller, Inland Iris Partners Inc., an affiliate of The Lynch Group Inc. Amy Kim of Hanbada …
New Richmond and Sparta, Wis. — Starbucks Coffee has signed two new retail leases in Wisconsin for spaces comprising 2,460 square feet each. The first property is located in New Richmond, about 45 miles northeast of Minneapolis. The other is in Sparta, about 28 miles east of La Crosse. Tony Colvin of Mid-America Real Estate represented Starbucks Coffee. The landlords for both properties were Jacques Holdings LLC and an entity doing business as OLH II LLC.
Atlanta — Selig Enterprises has unveiled plans for the renovation and rebranding of Lenox Marketplace in Atlanta, now known as The Block at Phipps. The retail property spans 9.4 acres in the city’s Buckhead neighborhood. Renovations to the center are scheduled to begin in the second quarter of this year. Capital improvements will include the addition of a 30-foot open-air corridor to connect the sidewalk along Peachtree Road and the center’s parking deck. Selig, which acquired the property with its partner in 2020, also plans to transform the space along …
Charlotte, N.C. — Stream Realty Partners has brokered the $10.3 million sale of 36 & NoDa, a 26,447-square-foot retail center located in Charlotte’s North Davidson (NoDa) neighborhood. AJ Capital Partners purchased the center from Ascent Real Estate Capital. Jared Londry and Alex Olofson of Stream Realty represented the seller in the transaction. 36 & NoDa was fully leased at the time of sale to tenants including Salud Cerveceria and Neighborhood Theatre.
Middleton, Mass. — Matthews Real Estate Investment Services has brokered the $7.7 million sale of a Walgreens property located in Middleton, a northern suburb of Boston. Newport Property Corp. sold the property to a New York-based private investor in a 1031-exchange transaction. Grant Korn and Maxx Bauman of Matthews represented the seller.