Dublin, Calif. — Ross Stores Inc. has opened 16 Ross Dress for Less stores and three dd’s DISCOUNTS stores across 14 different states this month. The newest store locations are part of the company’s plans to open a total of approximately 90 new stores in 2025, which will comprise 80 Ross’ and 10 dd’s DISCOUNTS. Ross has expanded its presence in the newer markets of Connecticut, Minnesota, New Jersey and New York, while dd’s DISCOUNTS has focused on the existing markets of California, Georgia and Texas. Ross Dress for Less …
Irmo, S.C. — The Palomar Group has brokered the sale of Irmo Station, a 99,384-square-foot shopping center located in the Columbia suburb of Irmo. Originally built in 1980, the Kroger-anchored center is situated on 13.8 acres. Tenants at the property include Orangetheory Fitness, Pizza Hut, Pet Supplies Plus and Palm Beach Tan. A publicly traded REIT acquired the property for an undisclosed price.
Lawrenceville, Ga. — Marcus & Millichap has arranged the sale and financing of a Walgreens property in Lawrenceville, roughly 30 miles northeast of downtown Atlanta. Built in 2004, Walgreens is situated on 1.2 acres. The property is net leased with under 10 years remaining on a corporate-guaranteed, absolute net lease with options to renew. Luke Lamoreaux of Marcus & Millichap Capital Corp. (MMCC), a subsidiary of Marcus & Millichap, secured acquisition financing for the property. Ashish Vakhariya, Darin Gross and Seth Haron of Marcus & Millichap’s Detroit office marketed the property …
Coon Rapids, Minn. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed, 6,297-square-foot two-tenant retail pad in Coon Rapids, roughly 15 miles outside Minneapolis. Fast-casual restaurant chain Dave’s Hot Chicken and medical spa Chapter Aesthetic Studio occupy the building, which is situated within the Riverdale Commons retail center on a 10-year lease. Dave’s Hot Chicken totals 2,797 square feet, while Chapter Aesthetic Studio totals 3,500 square feet. Jeff Lefko and Bill Asher of Hanley, in association with Robert Wise and Jeff Jiovanazzo of CBRE, …
Mesa, Ariz. — SimonCRE has acquired 64 acres of land for a new mixed-use development, dubbed Medina Station, in Mesa, roughly 20 miles outside Phoenix. Plans for the roughly 305,335-square-foot project include a multi-tenant retail center, retail outparcels, a restaurant district and a multifamily residential complex. Tenants at Medina Station will include Boot Barn, Einstein Bros. Bagels, Zara Nails, Café Zupas, GoodVets, U.S. Bank and Hawaiian Bros Island Grill. A Target store and a two-story, 80,000-square-foot Dick’s Sporting Goods will anchor the development. SimonCRE plans to break ground on the …
Queens, New York — Marcus & Millichap has brokered the $4.4 million sale of a 14,257-square-foot retail property in the Jamaica neighborhood of Queens. The three-story property, which was vacant at the time of sale, features 9,280 square feet of ground-floor retail space and roughly 5,000 square feet on the top floors of the building. The property also includes up to 61,920 buildable square feet for residential use. Scott Plasky and Billy Stephan IV of Marcus & Millichap’s Manhattan office marketed the property on behalf of the undisclosed seller and …
Coon Rapids, Minn. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed, 3,893-square-foot single-tenant retail pad in the Coon Rapids suburb of Minnesota. Fast-casual restaurant Café Zupas occupies the building, which is situated within the Riverdale Commons retail center, on a 10-year, triple-net-lease basis with scheduled rent increases every five years. Founded in 2004, Utah-based Café Zupas currently operates 70 locations across eight states. Jeff Lefko and Bill Asher of Hanley Investment Group, in association with Robert Wise and Jeff Jiovanazzo of CBRE, represented …
Milwaukie, Ore. — JLL Capital Markets has arranged $32.4 million in financing for Milwaukie Marketplace, a 185,760-square-foot retail center located in the Portland suburb of Milwaukie. The borrower is a joint venture between Lincoln Property Company and PCCP LLC. Zach Kersten, Casey Davidson and David Williams of JLL’s Debt Advisory team represented the borrower in arranging the three-year, floating-rate loan through an entity managed by Argentic Investment Management LLC. The loan features full-term interest-only payments and will support the borrower’s business plan to reposition the property into a premier grocery-anchored center.
Louisville, Colo. — Mt. Pleasant, South Carolina-based Ziff Real Estate Partners (ZRP) has acquired Village Square Shopping Center, a 40,211-square-foot retail property in Louisville, for $9.3 million. The center is shadow-anchored by Shamrock Foods. ZRP has allocated funds to improve the center’s infrastructure and curate a successful tenant mix. Brooke Frey and Christian Chamblee led the ZRP deal team in the transaction. The acquisition of Village Square Shopping Center marks ZRP’s first retail acquisition in the state of Colorado.
Gilbert, Ariz. — Scottsdale, Arizona-based Diversified Partners has opened Mercy Center, an 11-acre mixed-used development in Gilbert, approximately 22 miles southeast of Phoenix. A mix of retail and office tenants — Galleria Nails; Prizm Dental; Honoré Skin Clinic; Beem Light Sauna; Brickhouse Dental; and Willow Midwife — have already opened. Kolache Café and The Cabinet Design Studio are under construction and will soon join the tenant roster. Additionally, Arizona’s largest Starbucks Coffee is open at Mercy Center, which features a two-story design, a 23-car drive-thru, designated mobile order parking, an …