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Grocery-anchoredInvestment salesMarylandNews

KLNB Arranges $10.8 Million Sale of Shopping Center in Metro Washington, D.C.

by Hayden Spiess

Upper Marlboro, Md. — KLNB has arranged the $10.8 million sale of Marlboro Square, a 92,649-square-foot shopping center located in Upper Marlboro, a suburb of Washington, D.C. Vito Lupo, Chris Burnham, Andy Stape and Jake Furnary of KLNB represented the seller, an entity doing business as Marlboro Investors LLC, in the transaction. Renaud Consulting represented the undisclosed buyer. Marlboro Square was fully leased at the time of sale to tenants including Weis, Advance Auto Parts and Dollar Tree, as well as medical, fitness and food-and-beverage tenants.

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Investment salesMichiganNews

Northmarq Arranges $2.6 Million Sale of Single-Tenant Property Near Ann Arbor, Michigan

by Hayden Spiess

Ypsilanti, Mich. — Northmarq has arranged the $2.6 million sale of a single-tenant retail property located in Ypsilanti, roughly 8 miles southeast of Ann Arbor. AMERCO Real Estate Co. acquired the property, which sits on 11 acres and totals 91,743 square feet. The building was formerly leased to At Home. Isaiah Harf of Northmarq’s Chicago office represented the seller, a New York-based institutional investor, in the transaction.

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Grocery-anchoredIllinoisInvestment salesNews

Kimco Realty Sells Retail Center in Suburban Chicago for $20.5 Million

by Hayden Spiess

Batavia, Ill. — Kimco Realty has sold Wind Point Shopping Center, a 274,282-square-foot retail center located in Batavia, a western suburb of Chicago. PMAT acquired the property for $20.5 million. Amy Sands, Clinton Mitchell and Michael Nieder of JLL arranged the transaction on behalf of Kimco. Built in 1999, the retail center was 72.5 percent occupied at the time of sale. Aldi and Hobby Lobby anchor the property. Other tenants include Kohl’s, Office Max, Petland, Chili’s, Mattress Firm, AT&T and Swordfish Sushi.

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FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $80 Million Refinancing of Long Island Shopping Center

by Hayden Spiess

Westbury, N.Y. — Northmarq has arranged the $80 million refinancing of Roosevelt Raceway Center, a 428,483-square-foot shopping center located in the Long Island community of Westbury. The center, which sits on a 48-acre site less than a mile from Roosevelt Field Mall, houses tenants such as The Home Depot, Food Bazaar Supermarket, David’s Bridal and PGA Tour Superstore. Robert Delitsky and Charles Cotsalas of Northmarq arranged the fixed-rate loan through a regional bank on behalf of an undisclosed borrower.

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DevelopmentLeasingNew JerseyNews

WHP Global to Open Flagship Babies “R” Us Store in Metro New York City

by Hayden Spiess

East Rutherford, N.J. — WHP Global will open the first flagship Babies “R” Us store at American Dream, a retail and entertainment development comprising 3 million square feet in East Rutherford, roughly 10 miles outside of New York City. In addition to a Baby Registry Lounge, Nursery Design Center, Learning Center and Comfort Zone, the store will feature interactive experiences such as a stroller test track and photo station. The store is scheduled to open this summer. WHP Global acquired the brand in 2021.

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Investment salesNewsTexas

Faris Lee Arranges $8.7 Million Sale of Retail Building in Dallas-Fort Worth Metro

by Hayden Spiess

Euless, Texas — Faris Lee Investments has arranged the $8.7 million sale of an 11,620-square-foot retail building located in the central metroplex city of Euless. The property, which is an outparcel building to the 194-acre Glade Parks Town Center mixed-use development, was fully leased at the time of sale to Sleep Number, Salata, Jersey Mike’s, LoveSac and Total Men’s Primary Care. Jeff Conover and Scott DeYoung of Faris Lee represented the buyer, a family office based in the Midwest that acquired the asset via a 1031 exchange, in the transaction. …

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Grocery-anchoredLeasingNew JerseyNews

Onyx, Siguler Guff & Co. Sign Three New Tenants to Central New Jersey Shopping Center

by Hayden Spiess

Hazlet, N.J. — Onyx Equities and Siguler Guff & Co. have signed leases with three new tenants at Hazlet Town Center, a 200,000-square-foot shopping center located in Hazlet, roughly 40 miles outside New York City. Totaling 9,614 square feet, the new leases bring the property — which the two companies acquired as a joint venture in 2016 — to 92 percent occupancy. Pierson Commercial Real Estate arranged the leases on behalf of the owners. K-Pot Korean BBQ will occupy 7,014 square feet; The UPS Store will occupy 1,600 square feet; …

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CaliforniaGrocery-anchoredInvestment salesNews

Hanley Arranges $19.6 Million Sale of Shopping Center in Southern California

by Hayden Spiess

Simi Valley, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Simi Valley Promenade, an 82,366-square-foot shopping center located in Simi Valley. A private investor represented by Avi Narang of BRC Advisors acquired the property for $19.6 million. Bill Asher, Jeff Lefko and Ed Hanley of Hanley represented the seller, Toibb Enterprises. Built in 1981, the property was 92 percent leased at the time of sale to tenants including Smart & Final, Goodwill, Del Taco, Denny’s, Chi Chi’s Pizza and H&R Block.

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CaliforniaGrocery-anchoredInvestment salesNews

Beta Brokers $14 Million Sale of Shopping Center in Metro Los Angeles

by Hayden Spiess

Lawndale, Calif. — Beta Agency has brokered the sale of Lawndale Plaza, a retail center located approximately 20 miles outside of Los Angeles in Lawndale.  A private entity operating in a 1031 exchange acquired the property for $14 million. The center was fully leased at the time of sale to tenants including Smart & Final, Subway, Wingstop, Panda Express, Daily Nails & Spa and Wells Fargo. Richard Rizika and Vanessa Zhang of Beta represent the undisclosed seller, a private shopping center owner, in the transaction.

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GeorgiaInvestment salesNews

Northmarq Arranges $7.3 Million Sale of Retail Center in Metro Savannah

by Hayden Spiess

Pooler, Ga. — Northmarq has arranged the $7.3 million sale of Shops at Tanger Parkway, a 15,600-square-foot retail center located in the Savannah-area community of Pooler. The property was fully leased at the time of sale to tenants including Tropical Smoothie Café, Tin Drum Asian Kitchen, LAX, T-Swirl Crepe, Wayback Burgers, Which Wich?, America’s Best Contacts & Glasses and Pita Mediterranean Street Food. David Annett and Anne Perrault of Northmarq represented the seller, a Utah-based developer, in the transaction. Mark Lovering of Northmarq represented the buyer, a private equity firm …

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