Santa Ana, Calif. — Tabani Group has acquired Bristol Marketplace, a 107,687-square-foot retail center located in Santa Ana, for $16.7 million. A two-story, 99,751-square-foot space formerly occupied by Kohl’s and adjacent shop space occupy the property. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Conor Quinn of JLL Capital Markets Investment Sales Advisory represented the seller in the deal.
Coral Springs, Fla. — Continental Realty Corp. (CRC) has sold Cypress Run Marketplace, an 87,000-square foot retail center located in Coral Springs, for $23.3 million. The Q.V.H. Corp. acquired the property, which was constructed in 1989 and was fully leased at the time of sale. Walmart Neighborhood Market anchors the center, and Popeye’s Louisiana Kitchen recently signed a 15-year lease at the property. CRC originally acquired Cypress Run Marketplace in 2015 for $13.6 million and executed more than 17,000 square feet of leases during its ownership. Dennis Carson, Sriram Rajan and …
Washington, D.C. — Retail spending in November aligned with expectations and portends a strong holiday season, reports the National Retail Federation (NRF). Citing information for November provided by the U.S. Census Bureau, the NRF says that core retail sales — excluding automobile dealers, gasoline stations and restaurants — were up 3.3 percent year-over-year on a three-month moving average. According to the bureau, overall retail sales in November were up 4.1 percent year-over-year. The NRF predicts that holiday retail sales, which fall between Nov. 1 and Dec. 31, will meet the federation’s …
Franklin, Tenn. — Nordstrom Rack will open a 24,000 square foot store in Franklin, roughly 20 miles outside Nashville, marking the fifth location for the brand in the state. Scheduled to open in fall 2024, the store will be situated within Cool Springs Market. Other tenants at the retail center include Dick’s Sporting Goods, Kroger and DSW. Kite Realty Group Trust is the landlord at the property.
Melbourne, Fla. — Brookwood Financial Partners has acquired Melbourne Shopping Center, a 211,006-square-foot retail center located in Melbourne. Built in 1959 and renovated in 2022, the property was 92.4 percent leased at the time of sale. Publix anchors the center. Other tenants include Big Lots, Beall’s Outlet, Conn’s, Club 4 Fitness, Dollar Tree, Pet Supermarket, CATO, Pizza Hut and Firestone Complete Auto Care. Danny Finkle, Jorge Portela and Eric Williams of JLL Capital Markets arranged the transaction on behalf of the seller. Andrew Gray and Ryan Parker of JLL secured financing …
Jensen Beach, Fla. — Plaza Advisors has arranged the sale of Palm Breeze Plaza, a 48,110-square-foot shopping center located in Jensen Beach. Winn-Dixie anchors the property, which was fully leased at the time of sale. Other tenants at the center include Winn-Dixie Liquor, Domino’s, Carquest and St. Lucie Medical Specialists. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the seller, FrostPoint Capital, in the transaction. FrostPoint acquired Palm Breeze Plaza in 2020 and completed extensive renovations at the property.
Houston — Three food-and-beverage tenants have signed leases totaling 12,773 square feet at East River, a 150-acre mixed-use development currently underway in Houston. La Cantina by La Calle Tacos and Kyuramen will occupy 3,357 and 4,416 square feet, respectively, beginning summer 2024. City Cellars HTX will also open at the property next spring, in a 5,000-square-foot space. Midway is developing the project, and Parkway is the property manager.
Greensboro, N.C. — Legacy Realty Group Advisors has brokered the sale of a two-tenant retail center located in Greensboro. Papa John’s and ACE Cash Express occupy the property. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction.
Plainfield, Ind. — Axe-throwing entertainment concept LumberjAXE has signed a 5,013-square-foot lease at The Shops at Perry Crossing, a retail center located in Plainfield, roughly 20 miles outside Indianapolis. Upon completion, the venue will feature 11 total axe-throwing lanes, a children’s target, VIP room, pool table, digital dart boards and touch tunes. JLL manages the property.
Alexandria, Va. — A partnership between developer JBG Smith (NYSE: JBGS) and Monumental Sports & Entertainment (MSE) has unveiled plans to build a mixed-use entertainment district totaling approximately 9 million square feet in Alexandria, just south of Washington, D.C. Anchoring the project will be a new arena for the NHL’s Washington Capitals and NBA’s Washington Wizards within National Landing, an area encompassing the interconnected neighborhoods of Potomac Yard, Crystal City and Pentagon City. Additionally, plans call for a global corporate headquarters for MSE, Monumental Sports Network media studio, Wizards practice facility, …
