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Grocery-anchoredHawaiiInvestment salesNews

JLL Arranges $37.3 Million Sale of Western Maui Shopping Center

by Hayden Spiess

Lahaina, Hawaii — JLL Capital Markets has arranged the sale of Lahaina Gateway, a retail center comprising 135,996 square feet in the West Maui community of Lahaina. U.S. Realty Partners Inc. acquired the property for $37.3 million. Bryan Ley, Gleb Lvovich, Geoff Tranchina and Keenan Sue of JLL represented the seller, an institutional investment firm, in the transaction. Anchored by Foodland Farms, Ace Hardware and Ross Dress for Less, the property was 77 percent occupied at the time of sale, with upcoming leases that will bring occupancy to 90 percent. …

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Shoppes-Shoal-Creek-Kansas-City
Investment salesMissouriNews

Block & Co. Arranges Sale of 100,000-Square-Foot Shopping Center in Kansas City

by Hayden Spiess

Kansas City, Mo. — Block & Co. Inc. Realtors has arranged the sale of Shoppes at Shoal Creek, a 100,000-square-foot retail center located in Kansas City. David Block of Block & Co. brokered the transaction on behalf of the buyer, a group of local investors. The center was fully leased at the time of sale to tenants including Best Buy, Lukas Liquors, La-Z-Boy, Chipotle Mexican Grill and America’s Best. CBRE represented the seller, Pine Tree Development, in the transaction. Block & Co. will handle the leasing and management of the …

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Silverbell-Plaza-Tucson-AZ
ArizonaInvestment salesNews

SRS Real Estate Brokers $22 Million Sale of Silverbell Plaza Retail Center in Tucson, Arizona

by Hayden Spiess

Tucson, Ariz. — SRS Real Estate Partners has arranged the sale of Silverbell Plaza, a shopping center located in Tucson. An Arizona-based private investor sold the property to a Washington-based private investor in a 1031 exchange for $22 million. Situated on 8.4 acres, Silverbell Plaza features 97,540 square feet of retail space. At the time of sale, the property was 97 percent leased to tenants including Walgreens, Safeway, Anytime Fitness, Leslie’s Poolmart, PNC Bank, Wingstop, H&R Block and 14 other local, regional and national businesses. John Redfield and Alan Houston …

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Company newsDevelopmentLeasingNew YorkNews

Barnes & Noble to Open 30 New Stores in 2023

by Hayden Spiess

New York City — Barnes & Noble will open more than 30 new stores next year, the company has announced. A location at Atlantic Avenue in Brooklyn is scheduled to be the first of the new bookstores in 2023.  In 2022, the company opened more new locations than it had in any year since 2009. Barnes & Noble attributes the growth to a “reading renaissance.”

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DevelopmentLeasingNew YorkNews

Whole Foods Market to Open 42,000-Square-Foot Store in Manhattan’s Financial District

by Hayden Spiess

New York City — Whole Foods Market will open a 42,000-square-foot store in the One Wall Street building at 66 Broadway in New York City. Opening Jan. 11, the location will include a specialty cheesemaker and artisan department, seafood counter, meat counter, prepared foods section, full-service coffee bar, bakery and an extensive selection of craft beers. The store will also feature over 1,000 local items curated by John Lawson of Whole Foods and an Art Deco-inspired design.

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Dollar-General_Southeast
Investment salesNet leaseNew YorkNews

Legacy Realty Group Brokers $200 Million Portfolio Sale of 146 Southeast Stores Leased to Dollar General

by Hayden Spiess

New Hyde Park and New York City, N.Y. — Legacy Realty Group Advisors LLC, a commercial real estate brokerage with offices in New York, has brokered the sale of 146 stores in the Southeast leased to Dollar General. The seller, a privately held real estate developer, sold the portfolio to the buyer, a net-lease REIT, for approximately $200 million. Both parties requested anonymity. Jacob Baruch and Daniel Baruch of Legacy Realty Group represented both the buyer and seller in the off-market transaction.

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Cleveland-Town-Center-Cleveland-Tenn
Investment salesNewsTennessee

JLL Brokers $19.5 Million Sale of Retail Center in Chattanooga Suburb

by Hayden Spiess

Cleveland, Tenn. — JLL Capital Markets has brokered the sale of Cleveland Towne Center, a 148,203-square-foot shopping center located in the northeast Chattanooga suburb of Cleveland. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the seller, Wicker Park Capital Management LLC, in the $19.5 million transaction. Bodin Properties acquired the center, which was fully leased at the time of sale. Ross Dress for Less, Ashley Furniture, Old Navy, Books-A-Million and Electronic Express anchor the property, which is also shadow-anchored by Kohl’s and Target.

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West-Ashley-Station-Charleston
DevelopmentNewsSouth Carolina

SJC Ventures to Break Ground on 20,000-Square-Foot Second Phase of West Ashley Station Retail Development in Charleston

by Hayden Spiess

Charleston, S.C. — SJC Ventures has announced plans to break ground on the second phase of West Ashley Station, a retail center in Charleston, later this month. The first phase was built in 2016 with a 45,062-square-foot Whole Foods Market as the anchor tenant. Phase II of the development will add 20,000 square feet of shopping, dining and fitness space. Demolition of a building that formerly housed a Doscher’s IGA Supermarket will occur this month, with vertical construction scheduled to begin in the first quarter of 2023. Planned tenants include …

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LeasingMixed-useNewsTexas

Midway Executes 25,000 Square Feet of New Leases at Houston Center

by Hayden Spiess

Houston — Midway has arranged leases with six tenants at CITYCENTRE, a mixed-use development located in Houston featuring shopping, dining, office and entertainment space. The new leases total 25,000 square feet and bring the retail space at the center to 90 percent occupancy. Restaurant Daily Gather, Nike Live, Epic-Cycles bicycle shop, Tempur-Pedic and western brand Tecovas opened at the center this year. Orthodontists Smile Doctors will also open a location at the property soon.

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Blackwell-Plaza-Marietta-Ga
GeorgiaInvestment salesNews

SRS Brokers Sale of 143,081-Square-Foot Shopping Center in Metro Atlanta

by Hayden Spiess

Marietta, Ga. — SRS’ Investment Properties Group has arranged the sale of Blackwell Plaza, a 143,081-square-foot shopping center located in Marietta, approximately 20 miles northwest of Atlanta. An entity doing business as RCG-Marietta VII LLC acquired the property from Stebri Enterprises for $10 million. Kyle Stonis and Pierce Mayson of SRS represented Stebri in the transaction. Sitting on 17 acres at the intersection of Canton Road and Piedmont Road, the property features tenants including Old Time Pottery and America’s Thrift Store.

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