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IllinoisInvestment salesNet leaseNews

Marcus & Millichap Brokers $27 Million Sale of Two Retail Centers in Suburban Chicago

by Hayden Spiess

Elgin and Orland Park, Ill. — Marcus & Millichap has arranged the sale of two retail centers located in the Chicago suburbs of Orland Park and Elgin in transactions totaling $27 million. The first property, located in Orland Park, sold for $17.6 million. The center spans 20,732 square feet and includes three freestanding, single-tenant net-leased buildings and one multi-tenant building. The property was fully leased at the time of sale to tenants including BJ’s Brewhouse, Raising Cane’s and Smashburger. The second property, Galleria of Elgin, features two buildings totaling 24,000 …

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Investment salesNewsNorth Carolina

JLL Brokers $12.8 Million Sale of North Carolina Shopping Center

by Hayden Spiess

New Bern, N.C. — JLL Capital Markets has brokered the sale of New Bern Marketplace, a 59,516-square-foot shopping center located in New Bern. Evans Best LLC acquired the property for $12.8 million. Harris Teeter shadow anchors the center, which was 81 percent occupied at the time of sale by tenants including HomeGoods, Bath & Body Works, Domino’s, Wingstop and Sports Clips. Tom Kolarczyk and Danny Finkle of JLL represented the seller, Columbia Development Group and Lubert Adler. Meybohm Commercial represented Evans Best in the transaction.

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GeorgiaGrocery-anchoredInvestment salesNews

ShopOne Acquires 68,744-Square-Foot Shopping Center in Metro Atlanta

by Hayden Spiess

Kennesaw, Ga. — ShopOne Centers REIT Inc., with partners Pantheon and an undisclosed institutional investor, has purchased Kennesaw Walk, a Publix-anchored 68,744-square-foot shopping center located in Kennesaw, approximately 30 miles northwest of Atlanta. Tenants at the center, which was 89 percent leased at the time of sale, include Subway, H&R Block, Supercuts and State Farm Insurance. This acquisition brings the joint venture’s portfolio to 10 properties comprising over 1 million square feet.

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Investment salesNewsOklahoma

Monfort Acquires 19-Store Gas Station Portfolio in Southwest Oklahoma

by Hayden Spiess

Denver — 7E CO Holdings LLC, a division of Monfort Cos., has acquired a portfolio comprising 19 gas stations and convenience stores. Located across Southwest Oklahoma, the stores will all be operated under the Chisholm Corner brand name. Grant McWhirter of Southwest Petroleum Realty represented the seller, Bostick and Associates, in the transaction.

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NY-Retail
FeaturesFrom The MagazineNew York

NYC Retail Enters A New Phase Of Discovery

by Katie Sloan

The New York City retail market is currently functioning like an episode of The Price Is Right. Developers, investors, brokers and operators are all trying to attach fair values to rents and sales prices for spaces of all sizes and submarkets. But after a tumultuous period marked by a global pandemic and record inflation, followed by a string of severe interest rate hikes, accurately assigning those numbers is easier said than done — at least in some submarkets. According to data from JLL, at the end of the third quarter, the …

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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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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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