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Investment salesNewsTexas

Dunhill Partners Acquires 206,284-Square-Foot Shopping Center in Southern Texas

by Hayden Spiess

Victoria, Texas —Dunhill Partners has purchased Northcross Shopping Center, a 206,284-square-foot retail center located in Victoria, roughly 100 miles northeast of Corpus Christi. JLL Capital Markets has arranged the sale of the property, which was 91 percent leased at the time of sale. Tenants at the property include Ashley Furniture, Office Depot, Tuesday Morning, Dollar General and Dollar Tree. Adam Howells, George Cushing, Matthew Barge and Cole Sutter of JLL represented the undisclosed Dallas-based seller in the transaction.

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GeorgiaInvestment salesNews

Marcus & Millichap Arranges $32 Million Sale of Retail Center Near Savannah

by Hayden Spiess

Pooler, Ga. — Marcus & Millichap has brokered the $32 million sale of Pooler Pointe, a 160,683-square-foot shopping center in Pooler, approximately 10 miles outside of Savannah. Tim Giambrone of Marcus & Millichap represented the buyer, a private investor, in the transaction. Tenants at the property include Hobby Lobby, HomeGoods and Dick’s Sporting Goods.

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AlabamaGrocery-anchoredInvestment salesNews

Legacy Realty Brokers $7.4 Million Sale of Hillcrest Marketplace Shopping Center in Mobile

by Hayden Spiess

Mobile, Ala. — Legacy Realty Group Advisors has brokered the $7.4 million sale of Hillcrest Marketplace, a 76,000-square-foot shopping center located at 6300 Grelot Road in Mobile. Anchored by grocer Winn-Dixie, the property was 95 percent leased at the time of sale. Jacob Baruch and Max Yardeni of Legacy Realty represented both the buyer and seller in the transaction.

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LeasingNew YorkNews

Urban Edge Signs New Leases Totaling 7,299 Square Feet at Shopping Center in Huntington, New York

by Hayden Spiess

Huntington, N.Y. — Three new tenants will join Huntington Commons, a retail center located on Long Island. CycleBar, GOLFTEC and iStretchPlus will lease a total 7,299 square feet at the property, which is currently undergoing redevelopment. Joining a soon-to-open ShopRite and newly relocated and updated Marshalls, the tenants will backfill a space previously occupied by Outback Steakhouse. Dan Glazer of Ripco Real Estate represented the landlord, Urban Edge Properties, in the negotiations. Glazer also represented CycleBa. Faronn Roboff of Royal Properties Inc. represented GOLFTEC.

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LeasingNew YorkNews

Adidas Signs 30,639-Square-Foot Retail Lease Renewal at 610 Broadway in Manhattan

by Hayden Spiess

New York, N.Y. — Adidas has signed a 30,639-square-foot retail lease renewal for its flagship store at 610 Broadway in Manhattan’s SoHo neighborhood. The sportswear giant has committed to the three-story space for an additional 10 years. The six-story building was originally built in 2004 and predominantly houses office space. JLL represented the landlord, LaSalle Investment Management, in the lease negotiations. Adidas was represented internally.

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FloridaInvestment salesNews

Marcus & Millichap Brokers $57 Million Sale of Doral Shops in Metro Miami

by Hayden Spiess

Doral, Fla. — Marcus & Millichap has brokered the $57 million sale of Doral Shops, a 113,354-square-foot shopping center located in Doral, a suburb of Miami. Built in 2002 on nearly six acres, the shopping center was 99 percent leased at the time of sale to Navarro Discount Pharmacy, as well as 12 restaurants and several service-oriented tenants on the ground floor. The second floor of Doral Shops, which spans roughly 40,000 square feet, houses service retailers and office space. Scott Sandelin and Edward Romo of Marcus & Millichap’s Miami …

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DevelopmentIllinoisMixed-useNews

URW Plans Redevelopment of Westfield Old Orchard in Chicago

by Hayden Spiess

Chicago — Unibail-Rodamco-Westfield (URW) has announced plans for a mixed-use development at Westfield Old Orchard shopping center. Plans include retail, residential, dining, entertainment and health and wellness space, as well as an open-air plaza to host events. Work on the multi-phase project began this fall, with enhancements to the common areas. New tenants have also opened at the property, including Bloomingdale’s Bloomies concept, Louis Vuitton and Barnes & Noble. The project will continue in 2023 with the redevelopment of a space that formerly housed Lord & Taylor. Construction of the …

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Bermuda Square
Investment salesNewsVirginia

GBT Sells Portion of 136,000-Square-Foot Shopping Center Near Richmond

by Hayden Spiess

Chester, Va. — GBT Realty Corp. has sold a part of Bermuda Square, a 136,000-square-foot retail center located in Chester, roughly 15 miles outside Richmond. GBT, which acquired the property in 2019, sold a portion comprising 77,850 square feet to a private investor in a $36.5 million transaction. Jordan Lex and Brad Peterson of JLL represented GBT in the sale. The center is fully leased to tenants including Hobby Lobby, Aspen Dental, Sleep Number, Raising Cane’s Chicken Fingers, Little Casesars and Domoishi.

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ArizonaInvestment salesNews

Cushman & Wakefield Brokers $6.8 Million Sale of Westridge Shopping Center in Phoenix

by Hayden Spiess

Phoenix — Cushman & Wakefield has brokered the sale of Westridge Shopping Center, located in Phoenix. New Jersey-based Westridge Phoenix acquired the asset from DPM Westridge Shopping Center for $6.8 million. Built in 1985 and renovated in 2017, Westridge Shopping Center features 58,670 square feet of retail space on 5.3 acres. At the time of sale, the property was 81 percent leased. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller in the deal.

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FinanceInvestment salesNewsTexas

JLL Arranges Acquisition Financing for Centers Totaling 14,081 Square Feet in Central Texas

by Hayden Spiess

Austin, Texas and San Antonio— JLL Capital Markets has secured acquisition financing for two retail centers, both in Texas. CW Sheehan, Kaitlin Kane and Hunt Wood of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, Door Capital Partners. The first property, 3701 Guadalupe, comprises 6,991 square feet in Austin in the center of off-campus University of Texas student housing. Built in 1976, the center was 100 percent leased at the time of sale to tenants including Domino’s, Walgreens, Smile Haus, Body Brite and Evo Performance. The second …

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