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Block-Pima-Center-Scottsdale-AZ
ArizonaInvestment salesNews

Newmark Negotiates $23.5 Million Sale of The Block at Pima Center Retail Property in Scottsdale

by Hayden Spiess

Scottsdale, Ariz. — Newmark has arranged the sale of The Block at Pima Center, a multi-tenant retail center in Scottsdale. Block East LLC and Block West LLC sold the property to New Block 22 LLC for $23.5 million. Located at the northwest corner of Via De Ventura and Arizona State Route 101, The Block at Pima Center features 37,958 square feet of retail space that was fully leased at the time of sale. Current tenants include Starbucks Coffee, Dickey’s Barbecue Pit, Mayweather Boxing + Fitness and Spinato’s. The property features …

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Publix_Kentucky
Company newsDevelopmentKentuckyNews

Publix Buys Land in Louisville, Plans to Develop Market’s Third Grocery Store

by Hayden Spiess

Louisville, Ky. — Publix Super Markets has purchased land at the northwest corner of Flat Rock and Shelbyville roads in Louisville with plans to develop the market’s third Publix location. The Courier-Journalreports that the grocer purchased the site from an entity doing business as Shoppes at Gardiner Park LLC for more than $5.5 million. Plans call for a 48,387-square-foot store with a pharmacy and an adjacent Publix Liquors store that will offer beer, wine and spirits. The stores are anticipated to open in the second quarter of 2024. In addition …

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LeasingNew JerseyNewsVirginia

PREIT Signs New Tenants at 19 Locations

by Hayden Spiess

Philadelphia — PREIT has executed leases with new tenants at 19 locations throughout its portfolio. The new tenants include Daily Thread, which will open stores at 9 locations; Uniqlo, which will open at Cherry Hill Mall in New Jersey; Carter’s, which will lease space at Springfield Town Center in Virginia; Lovisa, which will occupy space at five additional centers; and Windsor Fashions, which will open at three locations.

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District-Brew-Yards-Wheeling
DevelopmentIllinoisLeasingNewsRestaurants

Structured Development, Burnt City Brewing Open District Brew Yards in Suburban Chicago

by Hayden Spiess

Wheeling, Ill. — Structured Development and Burnt City Brewing have opened a second District Brew Yards location in the Chicago suburb of Wheeling. Occupying the former Ram Restaurant & Brewery, which shuttered in 2019, the 11,668-square-foot space features five breweries: Burnt City Brewing, Around the Bend Beer Co., Casa Humilde Cerveceria, Twisted Hippo Brewing and Histrionic Brewlab. Guests can sample a range of beers and are charged by the ounce with a cashless system. Guests can also enjoy barbecue from Lillie’s Q, fried chicken and fish from Salt & Scratch …

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BJ's-Wholesale-Club-Gainesville-Va
Investment salesNewsVirginia

Inland Private Capital Sells 76,267-Square-Foot Single-Tenant Property in Suburban Washington, D.C.

by Hayden Spiess

Gainesville, Va. — Inland Private Capital Corp. (IPC) has finalized the sale of a single-tenant property in Gainesville, a western suburb of Washington, D.C., to an undisclosed buyer. IPC completed the sale through a subsidiary on behalf of its 1031 investment program, DC MSA Retail DST. Comprising 76,267 square feet, the single-story building is 100 percent leased to BJ’s Wholesale Club, a membership-only warehouse club chain. IPC acquired the property in 2012.

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Town-Center-Commons_Kennesaw
GeorgiaInvestment salesNews

Franklin Street Brokers $13 Million Sale of Shopping Center in Metro Atlanta

by Hayden Spiess

Kennesaw, Ga. — Franklin Street has brokered the $13 million sale of Town Center Commons, a 72,168-square-foot shopping center located in Kennesaw, a northwest suburb of Atlanta. 615 Ventures purchased the retail center from Ardent Cos. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction. Town Center Commons is anchored by Public Lands, the first Southeast location of a new outdoors and sporting goods retail concept from Dick’s Sporting Goods. Other tenants include Five Below, which recently renewed its lease, as well as The Original …

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340-River-Street-Cambridge-Mass
Grocery-anchoredInvestment salesMassachusettsNews

Benderson Development Acquires 53,400-Square-Foot Retail Center in Cambridge

by Hayden Spiess

Cambridge, Mass. — Benderson Development has purchased a 53,400-square-foot retail center located at 340 River St. in Cambridge. Anchored by a 40,000-square-foot Whole Foods Market and a 13,000-square-foot Walgreens, the property is approximately one mile from both Harvard University and Massachusetts Institute of Technology.

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Shoppes-at-the-Heart-of-Tradition-Port-St.-Lucie-Fla
DevelopmentFloridaGrocery-anchoredLeasingNewsRestaurants

PEBB, Banyan Sign Aldi to Anchor 71,000-Square-Foot Retail Center Development in Southern Florida

by Hayden Spiess

 Port St. Lucie, Fla. — PEBB Enterprises and Banyan Development have finalized a lease with Aldi at Shoppes @ the Heart of Tradition, a 71,000-square-foot retail center to be constructed on 15 acres in Port St. Lucie. Occupying 19,231 square feet, the supermarket will anchor the center, which is located within the master-planned Tradition Community. PEBB and Banyan are scheduled to break ground on the project in February of 2023, with the center expected to open in early 2024. Other tenants at the property will include Kyle G’s Amore Chop …

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AlaskaCompany newsDevelopmentNews

Joint Chiropractic Expands with Three Clinics in Alaska

by Hayden Spiess

Anchorage and Wasilla, Alaska — The Joint Corp. has signed a franchise agreement for three The Joint Chiropractic clinics in Alaska. The first location recently opened in Wasilla, Alaska. The second clinic is scheduled to open in the first quarter of 2023 in Anchorage. The third clinic is set to open next fall in an undisclosed location. Ron and Julie Kluff, James Peterson, Toni Peterson and Jerusha Overton are together the owners, and Overton will operate the businesses. With the expansion into Alaska, The Joint now has a presence in …

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Northwest-Shopping-Center-Palatine-Ill
FinanceIllinoisInvestment salesNews

Bellwether Arranges $74.5 Million Loan for Chicagoland Shopping Center Portfolio

by Hayden Spiess

Chicago — Bellwether Enterprise Real Estate Capital LLC (BWE) has secured a $74.5 million life company loan on behalf of Continental Realty Corp. (CRC) for the acquisition of a Chicagoland shopping center portfolio. CRC acquired the portfolio from DiMucci Cos. Comprising five properties and 900,000 square feet, the portfolio was 82 percent leased at the time of sale. The sale included Cicero Marketplace in Cicero, Illinois; Northwest Shopping Center and English Valley in Palatine, Illinois; Golf Plaza II in Mount Prospect, Illinois; and Fox River Commons in Naperville, Illinois. Together, …

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