South Jordan, Utah —Partners Real Estate has arranged the acquisition of a retail store located in South Jordan, a suburb of Salt Lake City. JCPenney occupies the 99,215-square-foot property. Dimitri Jordan of Partners Real Estate represented the buyer in the deal.
Los Angeles — Hanley Investment Group Real Estate Advisors has brokered the $3.3 million sale of a single-tenant property located in Los Angeles. Starbucks Coffee occupies the 1,486-square-foot building, which was built in 2017 on a 0.3-acre parcel, on a triple-net-lease basis. Jeff Lefko and Bill Asher of Hanley represented the seller in the transaction. Ryan Sharpe of Kidder Matthews represented the buyer.
Charlotte, N.C. —Big V Property Group has appointed Eric Zimmermann as the Charlotte, North Carolina-based company’s chief acquisitions officer. Zimmermann previously served as a managing director with Eastdil Secured before joining Big V in 2023 as an advisor to the executive committee. His track record includes arranging the $660 million sale of Country Club Plaza in Kansas City, Missouri, and the $494 million sale of Avalon in Atlanta. “We are very excited that Eric has agreed to lead our acquisition and disposition efforts on a permanent basis,” says Jeffrey Rosenburg, president …
Phoenix — Phoenix Commercial Advisors has arranged the $20.5 million sale of Laveen Commons, a 12.1-acre retail center located in Phoenix. Totaling 102,083 square feet across four buildings, the property was fully leased at the time of sale. Tenants at the center include Big Lots, Big 5 Sporting Goods, Ace Hardware and 99 Cents Only. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.
Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …
Newport Beach, Calif. — Graystone Capital Advisors has brokered the $18 million sale of a 5,700-square-foot retail building located in Newport Beach. Constructed in 1973, the property is situated on a 0.3-acre parcel with 75 feet of water frontage and views of Newport Harbor and the Pacific Ocean. Matthew Hardke of Graystone secured the buyer, an entity doing business as 2406 LLC, and arranged acquisition financing. James Boys LLC was the seller.
Dallas — Cheeseburger concept Smalls Sliders has signed an agreement with hospitality group Om Texas to open five restaurants, dubbed “Cans,” in metro Dallas. This marks the second multi-unit franchise deal in the city for the brand. Potential locations include Mesquite, Garland, Rockwall, Greenville, Murphy, Rowlett and Richardson, with the first store scheduled to open in the fourth quarter of 2024. Smalls Sliders opened its first Can in 2019 and currently has more than 160 restaurants open or under development.
Midlothian, Texas — Younger Partners Investments (YPI) has acquired Midlothian Towne Crossing, a 147,161-square-foot retail center located in Midlothian, roughly 25 miles south of Dallas. Kroger anchors the property, which was 99 percent leased at the time of sale. Other tenants include Ross Dress for Less, Burkes Outlet, JOANN Fabric and Crafts, Petco, Ulta Beauty and Famous Footwear. Out-lot parcels at the center feature restaurants including Chick-fil-A, McDonald’s and Chili’s.
Saddle Brook, N.J. — JLL Capital Markets has brokered the $16.1 million sale of a 62,504-square-foot single-tenant property located in Saddle Brook, roughly 20 miles outside New York City. ACME Markets occupies the building, which was constructed in 1998. The Winter Organization acquired the property. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Austin Pierce of JLL represented the seller, Vision Real Estate Partners, in the transaction.
Kyle, Texas — GBT Realty Corp. has announced plans for the development of a 42,000-square-foot shopping center in Kyle, approximately 20 miles outside Austin. A 23,250-square-foot Sprouts Farmers Market will anchor the property, which will be situated within the 2,200-acre Plum Creek master-planned community. Dubbed Shops at The Brick and Mortar District, the center will include an additional 18,500 square feet across three buildings. GBT acquired the five-acre development site in 2023 for $3.2 million and is currently underway on site work. Vertical construction is scheduled to begin this quarter, and …
