Santa Clarita, Calif. — iBorrow has provided $15 million in refinancing for Old Orchard Shopping Center, a 100,000-square-foot retail center located in Santa Clarita. Proceeds of the financing will retire an outstanding commercial mortgage-backed security loan and fund tenant improvements and leasing commissions. Occupants at the property, located at 23329-23449 Lyons Ave., include grocery and fast-food tenants.
Ontario, Calif. — Progressive Real Estate Partners has completed a lease with Target at Vineyard Freeway Center in Ontario, a 151,000-square-foot shopping center approximately 35 miles east of Los Angeles. Target will occupy 70,000 square feet of a building formerly leased to Kmart, which closed in 2018. Planet Fitness leased 24,000 square feet at the building earlier this year. Target’s new lease marks full occupancy of the 94,000-square-foot space. Paul Galmarini and Paul Su of Progressive represented the landlord in the negotiation. Jeff Nichols and Ryan Sullivan of CBRE represented …
Leesburg, Va. — Rappaport has signed five new tenants to Village at Leesburg, a 550,593-square-foot shopping center located in Leesburg. Rappaport owns, manages and leases the property, which houses more than 75 tenants, including anchors Wegmans, CMX Cinemas, LA Fitness and Bowlero. New tenants include Spitz, a Mediterranean restaurant concept; Altitude Trampoline Park, an entertainment venue with more than 80 locations; Anchor Bar, a wings restaurant concept with more than 50 locations; A Place to Be, a nonprofit based in Middleburg, Virginia, that offers art and music therapy programs; and …
Atlanta — Two permanent and two pop-up tenants will join Atlantic Station, a mixed-use retail and entertainment center located in the Midtown neighborhood of Atlanta. Soma, an intimates brand, and Sephora will both open permanent locations this fall and in 2023, respectively. Additionally, streetwear concepts Repeat ATL and Country Bumkin will open at Atlantic Station as pop-up retailers beginning this month through January of next year. Other tenants at Atlantic Station include H&M, Forever 21 and Dillard’s. The center also features 700,000 square feet of office space, occupied by employers …
Atlanta — Marcus & Millichap’s Taylor McMinn Retail Group has arranged the sale of a Dollar General portfolio comprising 14 stores located in six states. Don McMinn of Marcus & Millichap based in Atlanta brokered the $25.5 million transaction. All of the stores were constructed this year, and all are subject to 15-year triple net leases. An undisclosed developer sold the properties to an undisclosed, institutional retail owner. Of the sale, McMinn comments that there is an “increased institutional interest for net lease portfolios due to their attractive returns caused …
New Bern, N.C. — JLL has arranged the sale of a Harris Teeter ground lease at New Bern Marketplace, a 99,839-square-foot retail center located in New Bern. Alex Sharrin, Danny Finkle, Tom Kolaczyk and Jeff Cicurel of JLL represented the sellers, Columbia Development Group and Lubert Adler. Bussel Realty represented the 1031 buyer, Central Ave. Corp. Other tenants at the shopping center include Ross Dress for Less, Hobby Lobby, Academy Sports, Five Below, West Marine and Ulta Beauty.
Brookfield, Wis. — Mid-America Real Estate Corp.’s Investment Sales Group has brokered the sale of Shoppers World of Brookfield, a 178,784-square-foot shopping center located in the Milwaukee suburb of Brookfield. Ross Dress for Less, Burlington, Xperience Fitness and Best Buy Outlet anchor the property, which was 100 percent leased at the time of sale to tenants including O’Reilly Auto Parts and Leslie’s Pool Supplies. The center is also shadow-anchored by Metro Market. Ben Wineman, Emily Gadomski and Dan Rosenfeld of Mid-America represented the seller, an affiliate of investment firm PMAT. …
Houston — Magnolia Village, a 60-acre mixed-use development currently under construction in Houston, will see the addition of seven new tenants to its 36-acre first phase. Gulf Coast Commercial Group Inc. has secured leases with Crust Pizza Co., Pacific Dental Services, Taco Bell, McDonald’s, Mister Car Wash, Sports Clips Haircuts and Nails of America. Danny Miller of Gulf Coast represented the landlord in all negotiations. Thomas Holdsworth of Ironbridge Realty Partners also represented the landlord in the agreements with Crust Pizza Co., Pacific Dental Services and Nails of America. Brett …
East Rutherford, N.J. — Triple Five — owners of American Dream — have secured financing for the 3 million-square-foot development, which is located in East Rutherford, roughly 13 miles outside of New York City. Financing, provided by a group led by JP Morgan, was obtained for an extended term of four years, maturing in October of 2026. Attractions at American Dream include DreamWorks Water Park, Nickelodeon Universe Theme Park, LEGOLAND Discovery Center, SEA LIFE Aquarium, Big SNOW Ski Hill and Dream Wheel. Retail and food and beverage tenants include Saks …
Jericho, N.Y. — Kimco Realty (NYSE: KIM), a retail and mixed-use real estate REIT based in Jericho, has acquired a portfolio of eight shopping centers on Long Island. Kabro Associates, a privately held owner based in Woodbury, N.Y., sold the portfolio to Kimco for $375.8 million. Each of the eight retail centers, five of which are grocery-anchored, are located within a 15-minute drive of the Kimco corporate headquarters in Jericho. The centers in the sold portfolio include: • The Gardens at Great Neck • Woodbury Common • The Market Place • …
