Baltimore — Always Ice Cream Co. will open a 1,135-square-foot shop within The Village of Cross Keys, a retail center located in Baltimore. Scheduled to open next spring, the shop will be located between Atlas Restaurant Group’s Asian restaurant and The Cordish Co.’s Cece’s Roland Park. Caves Valley Partners is the landlord at the property.
San Diego and Dallas — Realty Income Corp. (NYSE: O) and Spirit Realty Capital Inc. (NYSE: SRC) have entered into an all-stock merger agreement valued at $9.3 billion. The combined company, which will operate under the Realty Income banner, is expected to become the fourth largest REIT on the S&P 500 index with a total enterprise value of $63 billion. Both companies primarily invest in freestanding, net-leased commercial properties. Realty Income boasts a portfolio of 13,100 properties located across the U.S. and Europe, and Spirit Realty owns a portfolio of …
West Valley City, Utah — X Development and Midloch Investment Partners have acquired Highbury at Lake Park, a 119,366-square-foot retail center in West Valley City, a suburb of Salt Lake City. An undisclosed seller sold the property for $30 million. Tenants at the center include Target, Bank of America, Xfinity, Freddy’s Frozen Custard & Steakburgers, Marshalls and Café Rio. Kip Paul of Cushman & Wakefield brokered the transaction, and America First Credit Union provided acquisition financing. Midloch is a preferred equity investor in the property, which is the firm’s first investment …
Rock Hill, S.C. — Marcus & Millichap has brokered the $6.3 million sale of a single-tenant property located in Rock Hill. Walgreens occupies the 14,550-square-foot building on a triple-net-lease basis. Andrew Margulies, Harrison Creason and John Berger of Marcus & Millichap secured the buyer, and Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged acquisition financing. Zosime was the seller.
Houston — LEVCOR has completed the redesign of Post Oak Plaza, a retail center located in Houston. Renovations at the property included updates to building and store facades, new lighting elements, upgraded landscaping and widened pathways. Additionally, three new tenants have signed leases at the center. Local Foods, Arhaus and Saatva will occupy 3,016; 22,201; and 4,000 square feet at the property, respectively. Taco Deli, Rakkan Ramen and Bosch/Thermador/Gaggenau are also scheduled to open at the center by the first half of 2024.
Cooper City, Fla. — Three tenants have opened at The Shoppes at Monterra Commons, a 153,618-square-foot mixed use property in Cooper City. Culver’s, First Watch and The Learning Experience now occupy 4,300; 3,700; and 10,000 square feet at the development, which was completed in August. Cali Coffee, Playa Bowls, Gyromania, Oaxaka, Tide Cleaners, Blueprint Cookies, Jonari Dental, Kami Nail House, Huey Magoos and AA Mint have also signed leases totaling 16,330 square feet at the property. Diversified Realty Development is the landlord and developer.
Ontario, Calif. — SRS Real Estate Partners has brokered the $4.6 million sale of a freestanding restaurant property located in Ontario. Culichi Lounge Inc. acquired the 5,535-square-foot building, which is occupied by Culichi Town, from an undisclosed local developer. Matthew Mousavi and Patrick Luther of SRS represented the seller in the deal. Terrison Quinn and Zach Leffers of SRS arranged the lease with Culichi Town on behalf of the seller.
Valencia, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.7 million sale of a car wash property currently underway in Valencia. The building, which is scheduled for completion in the first quarter of 2024, will total 4,263 square feet. BLISS Car Wash will occupy the property on a triple-net-lease basis.Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Fountainhead Development, in the transaction. Jenny Eng of CBRE represented the undisclosed buyer.
Baltimore — Restaurateur Pinky Cole will open two food-and-beverage concepts, Slutty Vegan and Bar Vegan, at Baltimore Peninsula, a $5 billion mixed-use redevelopment project currently underway in Baltimore. Scheduled to open in the fourth quarter of 2024, the plant-based restaurants are expected to create more than 100 new jobs. The 14 million-square-foot, 235-acre Baltimore Peninsula development also features a four-acre sports venue, ROOST Apartment Hotel and the Rye House and 250 Mission residential communities. The development and investment team for the project includes MAG Partners, MacFarlane Partners, Kevin Plank of Under …
Doral, Fla. — Three new tenants have signed leases at Century Town Center, a mixed-use property in Doral. My Salon Suites, Rumble Boxing and Kidstrong will occupy 5,910; 2,541; and 2,734 square feet of ground-floor retail space, respectively. Phase I of Century Town Center features 326 residential units and 31,000 square feet of retail space. A planned second phase of the project will comprise an additional 408 residential units and 27,000 square feet of retail space. Rafael Romero and Malina Huynh of JLL represented the landlord — a partnership between Mattoni …
