Danville, Va. — Legacy Realty Group Advisors has brokered the $4.1 million sale of Cain Creek Shopping Center, a 60,000-square-foot retail center located in Danville. Food Lion and Family Dollar anchor the property, which was fully occupied at the time of sale. Jacob Baruch of Legacy represented both the buyer and seller in the transaction.
Allen, Texas — JLL has negotiated the sale of Twin Creeks Marketplace, a 43,134-square-foot shopping center located in the northeastern Dallas suburb of Allen. Sprouts Farmers Market anchors the center, which was built in 2016 and was fully leased at the time of sale. Other tenants include Starbucks Coffee, Verizon Wireless, ATI Physical Therapy and Advancial. Chris Gerard, Adam Howells, Caroline Binning, Pauli Kerr and Cole Sutter of JLL represented the undisclosed seller in the transaction.
Dallas — Corner Bakery, a national restaurant chain based in Dallas, has filed for Chapter 11 protection in the Delaware Bankruptcy Court after defaulting on its loans last year, according to The Dallas Morning News. Pandya Restaurant Growth Brands purchased Corner Bakery, which currently operates 140 locations in 20 states, in October 2020. Prior to its acquisition by Pandya, the chain was owned by private equity firm Roark Capital Partner.
Naples, Fla. — Tobin Real Estate has brokered the $6.3 million sale of Commons on Collier, a shopping center located in Naples. Built in 2018 and located on a Walmart Supercenter outparcel, the property comprises 12,601 square feet. Tenants at the center include Supercuts, Domino’s Pizza and the Collier County Tax Collector. Louie Granteed of Tobin represented the undisclosed seller, and Matt Stepan of Premier Commercial represented the buyer in the transaction.
Middleton, Mass. — Matthews Real Estate Investment Services has negotiated the $7.7 million sale of a 14,440-square-foot retail property located in Middleton, a northern suburb of Boston. Walgreens occupies the property on a net-lease basis. Grant Korn and Maxx Bauman of Matthews Real Estate represented the seller, Newport Property Corp., in the transaction. A New York-based private investor acquired the asset via a 1031 exchange.
New York City — Primark has signed a lease at Queens Center, a retail property located in the New York City borough of Queens. The Irish retail brand will occupy a 54,562-square-foot, multi-level space at the center, which is owned by Macerich. Other tenants at the property include Macy’s, abercrombie kids, Apple, Adidas, Champs Sports, Pandora, Sephora, Victoria’s Secret, Chick-fil-A, Shake Shack and The Cheesecake Factory.
Frisco, Texas — Centergy Retail has broken ground on Lexington Village, a 100,000-square-foot retail center located in Frisco, approximately 30 miles north of Dallas. A 58,000-square-foot Tom Thumb will anchor the shopping center, which is situated within the 600-acre, master-planned Lexington development. Scheduled to open in spring 2024, the store will feature an in-store Starbucks Coffee kiosk, a pharmacy with a drive-thru, electric vehicle charging stations and drive-up-and-go grocery pickup. An additional 32,000 square feet of shops and three pad sites are scheduled for delivery in August 2023. Pre-leasing is …
New Port Richey, Fla. — Franklin Street has arranged the sale of a 104,201-square-foot, single-tenant retail property located in New Port Richey, roughly 40 miles northwest of Tampa. Grant Equities LLC acquired the property for $7.2 million. Bryan Belk, John Tennant and Zack McNamara of Franklin Street represented the seller, an affiliate of Vanguard Associates Inc. Built in 1987 and situated within Pasco Square shopping center, the building is fully occupied by retailer Bealls. Zack McNamara of Franklin Street previously negotiated a new, long-term lease with the tenant on behalf …
Charlotte, N.C. — Marcus & Millichap has arranged the $3.3 million sale of Big Blue Marble Academy, a net-leased childcare property located in Charlotte. Dominic Sulo of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a New Jersey-based limited liability company, and secured the 1031-exchange buyer, a Chicago area multifamily LLC. Andrean Angelov and Ryan D. Engle of Marcus & Millichap and Benjamin Yelm, the North Carolina broker of record, assisted in closing the transaction.
Moreno Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million pre-sale of a new construction car wash property located in Moreno Valley, within the Moreno Valley Marketplace shopping center. Quick Quack Car Wash will occupy the property on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley — in association with Jason Gordon of Epsteen & Associates — arranged the sale on behalf of the developer and seller, Inland Iris Partners Inc., an affiliate of The Lynch Group Inc. Amy Kim of Hanbada …
