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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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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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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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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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CaliforniaFinanceNews

JLL Arranges $84.7 Million Refinancing for Janss Marketplace in Thousand Oaks, California

by Hayden Spiess

Thousand Oaks, Calif. — An affiliate of Maxxam Enterprises has received $84.7 million in refinancing for Janss Marketplace, a grocery-anchored shopping center in Thousand Oaks. Matt Stewart, Alethia Halamandaris and Chris Jaffe of JLL Capital Markets Debt Advisory secured the financing through TerraCotta Credit Fund for the borrower. Janss Marketplace features 456,390 square feet of retail space. The property was built in phases from 1959 to 1999 and renovated in 2007 and 2020. Current tenants include Aldi, Ulta Beauty, Petco, Old Navy, Five Below and Golds Gym. At the time …

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Investment salesMissouriNet leaseNews

Newmark Negotiates Sale of 92,613-Square-Foot Retail Building in Jefferson City, Missouri

by Hayden Spiess

Jefferson City, Mo. — Newmark has arranged the sale of a 92,613-square-foot retail building net leased to Orscheln Farm & Home in Jefferson City. The sales price was undisclosed, but the asking price of $6.7 million represented a cap rate of 5.5 percent. Matt Berres, Samer Khalil, Karick Brown, Michael VanBuskirk and Chris Robertson of Newmark represented the seller, a private developer, and procured the undisclosed buyer. Orscheln Farm & Home took occupancy of the property in 2017 and signed a new 15-year lease in 2021. The retailer operates 175 …

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Chick-fil-A-Livermore-Calif
CaliforniaInvestment salesNet leaseNewsRestaurants

Hanley Investment Group Brokers $10.4 Million Sale of Single-Tenant Property Near San Francisco

by Hayden Spiess

Livermore, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of a 4,821-square-foot single-tenant property net leased to Chick-fil-A in Livermore, about 45 miles east of San Francisco. Bill Asher and Jeff Lefko represented the seller, Meridian, in the $10.4 million transaction. An undisclosed 1031-exchange buyer acquired the property, which is located in Arroyo Plaza, adjacent to Home Depot and Walmart.

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LeasingNewsOhio

10 New Tenants to Open at Easton Town Center in Columbus, Ohio

by Hayden Spiess

Columbus, Ohio — 10 new tenants are set to open at Easton Town Center, a retail center located in Columbus, has been joined by 10 new retailers. New openings will include lifestyle brand Parachute, Amazon Style, luxury footwear brand FREEBIRD, bridal shop Vow’d, women’s clothing retailer Garage, lab-grown diamond brand Clean Origin, Dos Hermanos restaurant, alpaca-fleece apparel store Pacas, Wanderlust Shops and Bliss in a Bottle, which sells chocolate-covered bottles of wine, beer and spirits. These openings mark the first brick-and-mortar locations for Clean Origin and Pacas. Additionally, the stores …

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CaliforniaFinanceGrocery-anchoredNews

JLL Arranges $245 Million Refinancing for Six-Property Portfolio in California

by Hayden Spiess

Irvine, Calif. — JLL Capital Markets has secured $245 million in refinancing for a portfolio of six commercial real estate properties across California. The portfolio includes three retail centers in coastal Orange County. Anchored by CVS/pharmacy, Aliso Creek Shopping Center comprises 49,149 square feet in Laguna Beach and is 92 percent leased. Flower Hill Promenade is a 168,249-square-foot retail center located in Del Mar. Anchored by Whole Foods Market, the center is 95.6 percent occupied. The final retail property, The Landing, is located in Newport Beach. Comprising 44,289 square feet, …

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