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CaliforniaInvestment salesNews

Tova Capital Acquires 34,500-Square-Foot Retail Center in Metro Los Angeles

by Hayden Spiess

Long Beach, Calif. — Tova Capital has purchased a 34,500-square-foot retail center located in Long Beach, approximately 25 miles south of Los Angeles. Jared Swedelson of NAI Capital represented Tova in the $6.2 million transaction. The property, which was fully occupied at the time of sale by Trademark Brewing and climbing gym Long Beach Rising, features two buildings comprising approximately 17,000 square feet each. Sheva Hosseinzadeh of Coldwell Banker Commercial BLAIR represented the undisclosed seller.

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LeasingMixed-useNewsTexas

Six Tenants to Join Montrose Collective Mixed-Use Development in Houston

by Hayden Spiess

Houston — Six new tenants will join Montrose Collective, a mixed-use development located in Houston. Concepts coming to the property include restaurants Graffiti Raw and Picnik — opening this month and in the spring, respectively — as well as four fitness and beauty tenants. SISU, a med spa, will open in February. Studio BE, Glosslab and Skin Laundry will also open locations this year. Montrose Collective, which currently features 15 retailers and five restaurants, is 97 percent leased with full occupancy expected by the end of 2023.

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Village-on-Whitesburg-Huntsville-Ala
AlabamaFinanceGrocery-anchoredNews

Northmarq Arranges $22.5 Million Refinancing of Shopping Center in Huntsville, Alabama

by Hayden Spiess

Huntsville, Ala. — Northmarq has arranged the $22.5 million refinancing of Village on Whitesburg, a 118,356-square-foot shopping center located in Huntsville. Randy Wolfe of Northmarq’s Atlanta office secured the permanent, fixed-rate financing on behalf of the undisclosed borrower through a commercial bank. The loan features a seven-year term and 25-year amortization schedule. The Fresh Market anchors the property, which is home to tenants including AT&T, Bonefish Grill, Drake’s, Nadeau, Panera Bread and Learning Express.

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South-Bank-San-Antonio
Investment salesNewsTexas

Fifth Corner Purchases 46,704-Square-Foot San Antonio Shopping Center

by Hayden Spiess

San Antonio — Fifth Corner has purchased South Bank, a 46,704-square-foot shopping center located in San Antonio on the San Antonio River Walk. Tenants at the property, which was fully leased at the time of sale, include Hard Rock Café, The County Line Bar-B-Q, Paesano’s, Cowboy’s Alamo City Harley-Davidson, Ben & Jerry’s, Howl at the Moon, Merkaba and Fat Tuesday. Chris Gerard, Ryan West, Barry Brown, Erin Lazarus and Megan Babovec of JLL Capital Markets arranged the sale on behalf of the undisclosed seller.

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Market-Place-at-Town-Center-El-Dorado-Hills-Calif
CaliforniaFinanceGrocery-anchoredNews

Gantry Secures $16.8 Million Refinancing for Retail Center in Metro Sacramento

by Hayden Spiess

El Dorado Hills, Calif. — Gantry has arranged the $16.8 million refinancing of Market Place at Town Center, a retail center located in El Dorado Hills, roughly 30 miles northeast of Sacramento. Comprising 134,600 square feet, the property is anchored by Nugget Markets. Robert Slatt and Andrew Ferguson of Gantry secured the 10-year, fixed-rate permanent loan on behalf of the borrower, a private investor. A regional bank provided the financing.

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Walgreens-Coral-Way-Miami
FloridaInvestment salesNet leaseNews

SRS Brokers $14.4 Million Sale-Leaseback of Walgreens-Occupied Property in Miami

by Hayden Spiess

Miami — SRS Real Estate Partners’ National Net Lease Group (NNLG) has facilitated the $14.4 million sale of a single-tenant retail property located in Miami. Comprising 16,285 square feet, the property is occupied by the seller, Walgreens, which has signed a new 15-year, corporate guaranteed, triple-net lease. Sean Lutz, Dan Elliot, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a Nevada-based private investor, in the 1031, all-cash transaction.

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Huntington-Shopping-Center-Huntington-N.Y
DevelopmentLeasingNew YorkNews

New Tenants Join Huntington Shopping Center on Long Island as Part of $75 Million Redevelopment

by Hayden Spiess

Huntington, N.Y. — Four new tenants are set to open at Huntington Shopping Center, a 21-acre retail center located on Long Island. Federal Realty Investment Trust has arranged leases with The Container Store, Burger Village, Love Sac and Just Salad as part of a $75 million redevelopment currently underway at the property. The Container Store will occupy 15,676 square feet adjacent to Whole Foods Market, which is under construction. Burger Village and Just Salad will lease 2,756 square feet and 2,382 square feet, respectively. Furniture retailer Love Sac will open …

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Parkdale-Commons-Waco-Texas
Investment salesNewsTexas

Palomar Group Brokers $15.4 Million Sale of Retail Center in Waco, Texas

by Hayden Spiess

Waco, Texas — Palomar Group has brokered the sale of Parkdale Commons, a 191,559-square-foot retail center located in Waco. An undisclosed buyer purchased the property for $15.4 million. Built in 1973, the center is anchored by Hobby Lobby. Other tenants include True Value, dd’s Discounts and Drug Emporium. Hobby Lobby and dd’s Discounts are on leases that extend through 2026, and True Value recently committed to a 10-year term. Drug Emporium also recently renewed for five years.

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Featherstone-Plaza-McLean-Va
Investment salesNewsVirginia

SRS Facilitates Sale of 46,793-Square-Foot Shopping Center in Northern Virginia

by Hayden Spiess

McLean, Va. — SRS National Net Lease Group has arranged the sale of Featherstone Plaza, a 46,793-square-foot shopping center located in McLean, a suburb of Washington, D.C. Andrew Fallon, Rick Fernandez and Philip Wellde of SRS arranged the $5.2 million sale on behalf of the undisclosed owners. Originally built in 1966 and comprising two buildings, the property was fully leased at the time of sale. 7-Eleven anchors the shopping center.

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Shops-Riverfront-Park-Denver-CO
ColoradoInvestment salesNews

Riverfront Shops Sells 31,898-Square-Foot Shops at Riverfront Park in Downtown Denver

by Hayden Spiess

Denver — Riverfront Shops LLC has completed the disposition of The Shops at Riverfront Park located in the Riverfront Park neighborhood of downtown Denver. A local private partnership acquired the property for $11.8 million. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the transaction. The Shops at Riverfront Park features 31,898 square feet of retail space along the ground floors of Riverfront Tower, Park Place Lofts and Promenade Lofts.

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