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Grocery-anchoredInvestment salesNew JerseyNews

Marcus & Millichap Brokers $19.3 Million Sale of Shopping Center Near Philadelphia

by Hayden Spiess

Vineland, N.J. — Marcus & Millichap has brokered the $19.3 million sale of Maintree Shopping Center, a 138,445-square-foot retail center located in Vineland, approximately 40 miles southeast of Philadelphia. Acme anchors the center, which was originally built in 1996. Other tenants include Boston Market, Burger King, Pizza Hut, Sino Wok and Primo Hoagies. Joseph French Jr., Kodi Traver and Thomas Dalzell of Marcus & Millichap represented the seller, a New Jersey-based limited liability company, in the deal. French also procured the buyer, a California-based private investor.

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Investment salesMissouriNews

Retail Center in Blue Springs, Missouri Trades Hands in $6.9 Million Transaction

by Hayden Spiess

Blue Springs, Mo. —Copperleaf Village, located in Blue Springs, about 19 miles southeast of downtown Kansas City, has been sold for $6.9 million. The 32,978-square-foot retail center was 82 percent leased at the time of sale. Tenants include medical, dental, restaurant, convenience, fitness and insurance companies. The property was originally built in 1973 and renovated in 2006. Zach Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, a Kansas City-based partnership. The team also procured the buyer, an out-of-state limited liability company.

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Investment salesNewsTexas

Baker Katz Acquires 20,000-Square-Foot Retail Building in Metro Houston, Plans Repositioning

by Hayden Spiess

Friendswood, Texas —Baker Katz has acquired a 20,000-square-foot freestanding retail building in Friendswood, a southeastern suburb of Houston, with plans to reposition the property. According to LoopNet Inc., the building was originally built in 1980 as a pad structure for Baybrook Mall. Ben Brown negotiated the purchase for Baker Katz on an internal basis.

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LeasingNewsTexas

Four New Tenants Join LaCenterra at Cinco Ranch in Metro Houston

by Hayden Spiess

Katy, Texas —Four new tenants will join LaCenterra at Cinco Ranch, a retail center located in Katy, roughly 30 miles west of Houston, with openings scheduled through summer of this year. Restaurants The Crack Shack and Nando’s will lease 4,065 square feet and 2,754 square feet, respectively. One Medical, a primary care practice, will occupy 3,843 square feet, and eyewear brand Warby Parker will open a 2,364-square-foot store at the shopping center.

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DevelopmentMixed-useNewsTennessee

Chartwell Hospitality, Southstar Break Ground on $500 Million Aureum Mixed-Use Development Near Nashville

by Hayden Spiess

Franklin, Tenn. — A joint venture between locally based developers Chartwell Hospitality and Southstar has broken ground on Aureum, a $500 million mixed-use development located in the Nashville suburb of Franklin. Situated in the city’s Cool Springs district, the 22-acre development will feature residences, shops, restaurants, entertainment venues, offices and two hotels, as well as five acres of open space featuring parks and trails. “We are the first to market with an all-in-one entertainment, hospitality and residential community that hasn’t been seen before in this area,” says Rob Schaedle, president …

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Investment salesMissouriNews

GBT Realty Sells Shopping Center in Metro St. Louis for $40.7 Million

by Hayden Spiess

St. Peters, Mo. — GBT Realty has sold The Shoppes of Mid Rivers, a 270,000-square-foot retail center located in St. Peters, roughly 35 miles northwest of downtown St. Louis. Jenel Real Estate purchased the property for $40.7 million. Old Navy recently signed a 15,000-square-foot lease at the center, bringing occupancy to 99 percent. Other tenants include Burlington, Academy Sports, HomeGoods, Marshalls, Ross Dress for Less, Ulta Beauty, Five Below, Outback Steakhouse, Cooper’s Hawk Winery & Restaurant, Pappy’s Smokehouse and Gulf Shores Restaurant & Grill. Amy Sands, Clinton Mitchell and Michael …

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IllinoisInvestment salesNews

Mid-America Arranges Sale of 116,992-Square-Foot Shopping Center in Metro Chicago

by Hayden Spiess

Countryside, Ill. — Mid-America Real Estate’s Investment Sales Group has arranged the sale of Salem Square, a 116,992-square-foot shopping center located in Countryside, approximately 17 miles southwest of downtown Chicago. The property was fully leased and managed by Pine Tree at the time of sale. Tenants at the center include TJ Maxx/HomeGoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy and Magic Nails. Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction.

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CaliforniaFinanceNews

PSRS Arranges $16.3 Million Refinancing for Eastlake Village Center Retail Space Near San Diego

by Hayden Spiess

Chula Vista, Calif. — PSRS has secured a $16.3 million non-recourse loan for the refinancing of a 43,471-square-foot retail space at Eastlake Village Center in Chula Vista, roughly 10 miles southeast of downtown San Diego. James Mulvihill and Kevin Mulvihill of PSRS arranged the loan, which a life insurance company provided. PSRS will service the mortgage as part of its $6.6 billion loan serving portfolio.

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GeorgiaInvestment salesNews

Northmarq Brokers $3.3 Million Sale of Governor’s Walk Shopping Center in Metro Atlanta

by Hayden Spiess

Peachtree City, Ga. — Northmarq has arranged the $3.3 million sale of Governor’s Walk, a 21,280-square-foot shopping center located in Peachtree City, roughly 30 miles southwest of Atlanta. The property was fully leased at the time of sale, to tenants including Car Wash, Donut Shop, Peachtree Pawn, Fresh Smoothie Café, Mary Nails, Curves, Carolina Hemp Co., Southern Crescent Spa, Peachtree Wax Studio, La Plaza R&R Inc., Flooring Store, Men’s World Barber, Rene’e Paige Salon and M&R Alterations. Jeff Enck of Northmarq represented the Florida-based seller in the transaction. Enck also …

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Company newsNew JerseyNews

Bed Bath & Beyond Announces 87 Additional Store Closures

by Hayden Spiess

Union, N.J. — Bed Bath & Beyond has announced the locations of 87 flagship stores it plans to close across the country. These closures come in addition to the 150 stores announced for closure in August. The Union, New Jersey-based company will also shutter 48 Harmon drugstores as well as five Buybuy Baby stores. Bed Bath & Beyond missed interest payments on its bonds last week, according to reports by The Wall Street Journal. This came one week after a default notice for overdrawing on credit lines was sent to …

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