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St-Georges-Woodbridge-N.J
FinanceGrocery-anchoredNew JerseyNews

Levin Properties Receives $43.2 Million Refinancing for St. Georges Crossing in Central New Jersey

by Hayden Spiess

Woodbridge, N.J. — Levin Properties has received a $43.2 million refinancing for St. Georges Crossing, a 343,423-square-foot shopping center located in the central New Jersey community of Woodbridge. ShopRite anchors the property, which was fully leased at the time of financing. Other tenants include P.C. Richard & Son, PetSmart and TJ Maxx. Jim Cadranell, Gregory Nalbandian and Salvatore Buzzerio of JLL Capital Markets arranged the 12-year, fixed-rate loan through PGIM Real Estate on behalf of Levin Properties.

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Oak-St-Health
Company newsIllinoisNewsRhode Island

CVS Agrees to Acquire Oak Street Health in $10.6 Billion Deal

by Hayden Spiess

Woonsocket, R.I. and Chicago — CVS Health (NYSE: CVS) has agreed to acquire Oak Street Health (NYSE: OSH) in an all-cash transaction at $39 per share, representing a total purchase price of roughly $10.6 billion. The price represents a premium of approximately 11.9 percent over Oak Street’s opening price per share this morning. Chicago-based Oak Street Health is a network of primary care centers for adults on Medicare. The company employs approximately 600 primary care providers and maintains 169 medical centers across 21 states. By 2026, Oak Street Health plans …

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Bay-State-Commons-Westborough-Mass
Grocery-anchoredInvestment salesMassachusettsNews

Grossman Development Group Purchases 261,672-Square-Foot Retail Center Near Boston

by Hayden Spiess

Westborough, Mass. — Grossman Development Group (GDG) has acquired Bay State Commons, a 261,672-square-foot retail center located in Westborough, approximately 30 miles west of Boston. Roche Bros. anchors the property, and other tenants include Boston Interiors, Reliant Medical, Boston Ski & Tennis, Ted’s Montana Grill and Panera Bread. GDG purchased the property with a partnership doing business as Baystate Westborough LLC, which includes Mark Reardon. Todd Alexander of Kelleher & Sodowsky handles leasing at the development.

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El-Dorado-Long-Beach-CA
CaliforniaGrocery-anchoredInvestment salesNews

Hanley Investment Group Brokers $21.2 Million Sale of El Dorado Shopping Center in Long Beach, California

by Hayden Spiess

Long Beach, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of El Dorado Shopping Center, a retail property located in Long Beach. A partnership managed and represented by Milan Capital Management acquired the center from DPI Retail for $21.2 million. Grocery Outlet and Dollar Tree anchor the 74,500-square-foot shopping center. Built in 1965 and renovated in 2003, the property was 93 percent occupied at the time of sale. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller in the transaction.

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Investment salesNewsTexas

STRIVE Arranges Sale of 13,522-Square-Foot Retail Strip Center in Frisco, Texas

by Hayden Spiess

Frisco, Texas —STRIVE has arranged the sale of The Shops at Eldorado, a 13,522-square-foot retail strip center located in Frisco. Built in 2016, the center was fully leased at the time of sale to tenants including Sugar Boy Donuts, Smoke Central and Discovery Kids Dentistry. Hudson Lambert and Jason Vitorino of STRIVE represented the seller, a Dallas-based developer, in the transaction.

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CaliforniaGrocery-anchoredInvestment salesNews

IRA Capital Sells 157,322-Square-Foot Poinsettia Plaza Shopping Center in Southern California for $66 Million

by Hayden Spiess

Ventura, Calif. — IRA Capital has completed the $66 million sale of Poinsettia Plaza, a 157,322-square-foot shopping center located in Ventura. Tenants at the center, which was 96.5 percent occupied at the time of sale, include Ross Dress for Less, Office Depot, Petco, FedEx, Lamps Plus and Aldi. Recent renovations at the property include modernizations of existing facades, new landscaping and parking lot upgrades. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal.

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Westpark-Walk-Peachtree-City-Ga
GeorgiaInvestment salesNews

Northmarq Arranges $15.2 Million Sale of 73,847-Square-Foot Retail Center in Metro Atlanta

by Hayden Spiess

Peachtree City, Ga. — Northmarq has arranged the sale of Westpark Walk, a 73,847-square-foot retail center located in Peachtree City, roughly 30 miles south of Atlanta. A developer acquired the property, which was fully leased at the time of sale, for $15.2 million. Tenants at the center include Tuesday Morning, Verizon Wireless, State Farm, Firehouse Subs, HOTWORX, and Ranchero Mexican Grill. Jeff Enck and Emery Shane of Northmarq represented the seller, an individual investor, in the transaction.

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Chevron-Norco-Calif
CaliforniaInvestment salesNews

Progressive Facilitates $11.9 Million Sale of Gas Station Property in Norco, California

by Hayden Spiess

Norco, Calif. — Progressive Real Estate Partners has brokered the $11.9 million sale of a Chevron station, convenience store and car wash located in Norco. Both the business and property were included in the sale. Victor Buendia of Progressive represented the seller, a Los Angeles-based private investor, in the transaction. Built in 2000 and fully remodeled in 2020, the property features 18 fueling stations, a self-service express car wash and a 22,000-square-foot ExtraMile convenience store. The sale also included two rental units, currently leased to a Valvoline franchisee and a …

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FinanceNewsPennsylvania

Axiom Capital Arranges $11 Million Refinancing of Retail Property in Central Pennsylvania

by Hayden Spiess

Altoona, Pa. — Axiom Capital Corp. has arranged the $11 million refinancing of a 222,139-square-foot, single-tenant retail property located in Altoona. Walmart occupies the property, housing a grocery store, auto care center, pharmacy and a hair salon. The names of the borrower, a private investment group, and direct lender, a bank, were not disclosed.

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Ken-Hinkle
Company newsIllinoisNews

Ken Hinkle Joins Cullinan Properties as Vice President of Leasing

by Hayden Spiess

Peoria, Ill. — Ken Hinkle has joined Cullinan Properties, taking on the role of vice president of leasing. Based in Atlanta, Hinkle previously held senior positions with Kite Realty, Retail Properties of America, Simon Property Group and Federated Department Store. In his most recent position, Hinkle was responsible for the leasing of up to 4.8 million square feet. “Ken is a dynamic leasing professional who succeeds in every market he is in,” says Ann Smith, senior vice president and director of leasing and marketing. “At Cullinan, he will provide leadership …

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