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O2B-Kids!-St.-Johns-Fla
FloridaInvestment salesNet leaseNews

Hanley Arranges $5.9 Million Sale of Single-Tenant Retail Property in Metro Jacksonville

by Hayden Spiess

St. Johns, Fla. — Hanley Investment Group Real Estate Advisors has arranged the $5.9 million sale of a single-tenant retail property located in St. Johns, roughly 30 miles southeast of Jacksonville. Built in 2021, the 10,395-square-foot building is net leased to childcare provider O2B Kids! Jeff Lefko, Bill Asher and Dylan Mallory of Hanley Investment Group, in association with ParaSell Inc., represented the seller, a private investor based in Port Orange, Florida. Raem Capital Advisors represented the buyer, a private investor from the New York City metropolitan area, in the …

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2nd-&-PCH-Long-Beach-Calif
CaliforniaLeasingNewsRestaurants

Two Restaurants Open at 2nd & PCH Shopping Center in Long Beach, California

by Hayden Spiess

Long Beach, Calif. — Two restaurants have opened at 2nd & PCH, a shopping center located in Long Beach. Jinya Ramen Bar and dan modern chinese are the newest tenants at the property, which recently saw the addition of Fire Wings, Forno Banci and Shop Small Bizz Little’s. Beachwood Brewing, A PCH and Lulu Avenue are also scheduled to open locations at the center later this year.

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LeasingNewsPennsylvaniaRestaurants

honeygrow Signs 2,500-Square-Foot Lease in Metro Philadelphia

by Hayden Spiess

Langhorne, Pa. — Fast-casual restaurant honeygrow has signed a lease at Lincoln Plaza shopping center in Langhorne, roughly 25 miles northeast of Philadelphia. Comprising 2,500 square feet, the space will mark the 37th location for the brand. Other tenants at Lincoln Plaza include HomeSense, Ulta Beauty, T.J. Maxx, Nordstrom Rack, Michaels, Smoothie King and DSW. Michael Gorman and Scott Benson of Metro Commercial represented the tenant in the lease negotiations. Paramount Realty is the landlord.

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Grocery-anchoredInvestment salesNew YorkNews

CBRE Brokers $112 Million Sale of Mixed-Use Development in White Plains, New York

by Hayden Spiess

White Plains, N.Y. — CBRE has brokered the $112 million sale of The Source, a mixed-use development located in White Plains. Whole Foods Market anchors the property, which comprises 262,000 square feet and was 99 percent leased at the time of sale. Other tenants include Dick’s Sporting Goods, Raymour & Flanigan and The Cheesecake Factory. Jeffrey Dunne, David Gavin, Steve Bardsley and Travis Langer of CBRE represented the seller, which the Wall Street Journal reports was UBS Realty Investors LLC, and procured the buyer in the transaction.

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Oxton_Piedmont-Center_Atlanta
DevelopmentGeorgiaNewsRestaurants

Ardent to Develop 35,000-Square-Foot Food-and-Beverage District at Piedmont Center Office Campus in Atlanta

by Hayden Spiess

Atlanta — Ardent Cos. plans to add a food-and-beverage destination within its Piedmont Center office campus in Atlanta’s Buckhead district. Dubbed Oxton, the project will transform 35,000 square feet of ground-level office space into a collection of eateries that will spill into the property’s tree-lined courtyard. Piedmont Center comprises about 2 million square feet of offices and connects to PATH400, a greenway connecting various neighborhoods in the Buckhead area. Square Feet Studio Architects is leading planning of the new design, which will span about an acre of the campus. Bridger …

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Atlantic-Center-Mini-Mall-Bell-Calif
CaliforniaDevelopmentInvestment salesNews

NAI Arranges Purchase of 20,909-Square-Foot Retail Center in Metro Los Angeles

by Hayden Spiess

Bell, Calif. — NAI Capital Commercial has arranged the purchase of Atlantic Center Mini Mall, a 20,909-square-foot retail center located in Bell, roughly 10 miles outside Los Angeles. Steven Weiss and Sam Kangavari of NAI represented the buyer, a private investor, in the transaction. The buyer plans to redevelop the property, converting it to a single-tenant retail building, and the NAI team also negotiated a new lease with a national tenant.

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Grove-Central_Miami
DevelopmentFloridaLeasingMixed-useNews

Fitness Concept Signs 38,400-Square-Foot Lease at Mixed-Use Development in Miami

by Hayden Spiess

Miami — Club Studio, a fitness retail concept and part of Fitness International LLC, has signed a 38,400-square-foot lease at Grove Central, a mixed-use development underway in Miami’s Coconut Grove neighborhood. A joint venture between Miami-based developers Terra and Grass River Property is developing Grove Central, which is expected to open in 2024. In addition to a residential tower and parking garage, the development will feature approximately 170,000 square feet of neighborhood-oriented retail space. Other retailers committed at the project include Target, Sprouts Farmers Market, Total Wine and Five Below.

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Investment salesNewsTexas

Partners Real Estate Negotiates Sale of 10,200-Square-Foot Retail Property in Stephenville, Texas

by Hayden Spiess

Stephenville, Texas — Partners Real Estate has negotiated the sale of a 10,200-square-foot retail property in Stephenville, about 70 miles southwest of Fort Worth. The property was fully leased to Family Dollar at the time of sale. Landan Dory of Partners represented the buyer, private investor Perry Lewis, in the transaction. Craig Fuller of Marcus & Millichap represented the undisclosed seller.

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CaliforniaInvestment salesNews

La Caze Development Sells Lake Forest Marketplace in Southern California for $14.2 Million

by Hayden Spiess

Lake Forest, Calif. — La Caze Development has sold Lake Forest Marketplace, a 111,212-square-foot shopping center located in Lake Forest, for $14.2 million. John Redfield of SRS Real Estate Partners’ Investment Property Group arranged the transaction on behalf of the seller. Jon Davis of SVN represented the buyer, a private investor. Situated on 10 acres, the property was fully occupied at the time of sale. Tenants include 99 Cents Only, Guitar Center, Island Pacific, Harbor Freight Tools, Bank of America, Del Taco and Dunkin’ Donuts.

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Investment salesNew JerseyNews

Marcus & Millichap Brokers $7 Million Sale of Northern New Jersey Gas Station

by Hayden Spiess

Somerset, N.J. — Marcus & Millichap has brokered the $7 million sale of a gas station and convenience store property occupied by QuickChek in the Northern New Jersey community of Somerset. Matthew Klang and Michael Tuccillo of Marcus & Millichap represented the undisclosed seller and developer in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

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