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Investment salesNew JerseyNews

IPA Arranges $63 Million Sale of New Jersey Retail Center

by Hayden Spiess

West Long Branch, N.J. — Marcus & Millichap’s Institutional Property Advisors (IPA) has facilitated the $63 million sale of Consumer Centre, a 293,087-square-foot shopping center located in West Long Branch. Paramount Realty Services acquired the Home Depot-anchored property, which was 96 percent occupied at the time of sale. Brad Nathanson of IPA represented the seller, Site Centers Inc. Tenants at the center, which was built in 1993, include Dick’s Sporting Goods, Buy Buy Baby, Ulta Beauty, DSW, PetSmart and Five Below.

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ConnecticutInvestment salesNews

FNRP Purchases 259,104-Square-Foot Shopping Center in Metro Hartford

by Hayden Spiess

West Hartford, Conn. — First National Realty Partners (FNRP) has purchased Bishops Corner, a 259,104-square-foot retail center located in West Hartford, roughly five miles outside of Hartford. Tenants at the center, which is anchored by a 59,000-square-foot Target, include HomeGoods, The Paper Store, Mattress Firm, Orange Theory, AT&T, Bank of America, TD Bank, Noodles & Company, GNC, Subway and Massage Envy. Paul Penman of Newmark represented the undisclosed seller in the transaction.

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ColoradoInvestment salesNews

Capstone Brokers Sale of Former Sears Site in Lakewood, Colorado

by Hayden Spiess

Lakewood, Colo. — Capstone Colorado Land Team has brokered the sale of a 7.65-acre lot at 10785 Colfax Ave. in Lakewood. Artesia Real Estate Investors acquired the land parcel for an undisclosed price. The site includes a former Sears department store and a separate outparcel building that previously operated as a Sears Automotive Center. The two unoccupied buildings comprise a total 163,957 square feet of commercial space. Travis Hodge and Anthony Bobay of Capstone represented the undisclosed seller, while Artesia Real Estate Investors was self-represented in the transaction.

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LeasingNewsTexas

Baker Katz Executes Three EōS Fitness Leases Totaling 144,260 Square Feet

by Hayden Spiess

Houston — Jason Baker of Baker Katz has arranged three leases on behalf of EōS Fitness in Texas. Beginning in 2024, EōS will occupy 51,130 square feet at Williams Trace Plaza in Sugar Land. Wendell Nault of Whitestone represented the landlord in the transaction. The gym will also open a 42,000-square-foot location at the Shoppes at the Bridges retail center in Atascocita in 2025. Jarrett Adame with First Hartford Realty represented the landlord in the lease. Clay McDaniel of Excel Commercial Real Estate represented the landlord of The Square at …

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Company newsNewsTennessee

Poag Shopping Centers Rebrands to Poag Development Group

by Hayden Spiess

Memphis, Tenn. — Poag Shopping Centers, as part of its recently announced partnership with JLL, has rebranded to Poag Development Group. “At a time when retail is all too often an afterthought in a mixed-use project, Poag Development Group’s unmatched expertise in creating and optimizing memorable and profitable retail environments is more critical than ever,” says Josh Poag, chief executive officer of Poag. “I couldn’t be more excited for this next chapter in the Poag legacy.” The company’s current projects include the redevelopment of Somerset Square in Glastonbury, Connecticut; the …

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DevelopmentMixed-useNewsTexas

StreetLights Residential Plans $3 Billion The Mix Development in Metro Dallas

by Hayden Spiess

Frisco, Texas — StreetLights Residential has unveiled plans for The Mix, a $3 billion mixed-use project located at the intersection of Dallas Parkway and Lebanon Road north of Dallas’ Platinum Corridor in Frisco. The 112-acre project is set to include 2 million square feet of office space; 375,000 square feet of retail, including a grocery store; a 400-key business hotel and 200-key boutique hotel; and 3 million square feet of residential development. The development will also include a 9-acre central park designed by OJB Landscape Architecture, the landscape firm behind …

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Investment salesNewsTexas

JLL Brokers Sale of 213,416-Sqaure-Foot Shopping Center in Fort Worth

by Hayden Spiess

Fort Worth, Texas — JLL Capital Markets has arranged the sale of The Shops at Chisholm Trail Ranch, a 213,416-square-foot retail center located in Fort Worth. Tenants at the property, which was 97.5 percent leased at the time of sale, include Studio Movie Grill, Ulta Beauty, Old Navy, Ross Dress for Less, Marshalls, Tuesday Morning, Five Below, Famous Footwear, Pet Supplies Plus, James Avery and Crumbl Cookies. Chris Gerard, Barry Brown and Matthew Barge of JLL represented the seller — Street Level Investments — in the transaction. Mazaheri Properties acquired …

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Investment salesMinnesotaNebraskaNewsOhio

Timber Development Corp. Sells Three Shopping Centers Totaling $11.2 Million

by Hayden Spiess

Longwood, Fla. — Timber Development Corp. has completed the sale of three retail centers for a total of $11.2 million. The properties are located in Nebraska, Ohio and Minnesota. Eric Abbott and Zach Taylor of Marcus and Millichap represented Timber in the $4.6 million sale of the Norfolk, Nebraska, shopping center, which comprises 36,500 square feet and is shadow-anchored by Walmart. Bentley Coe Plaza — a 36,600-square-foot center located in Olmsted, Ohio — was purchased for $4.4 million. Kyle Hartung of Goodman Realty brokered the transaction. AJ Prins of CBRE …

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Investment salesNewsTexas

STRIVE Arranges Sale of 8,953-Square-Foot Retail Strip Center in Suburban Fort Worth

by Hayden Spiess

Flower Mound, Texas — STRIVE has arranged the sale of an 8,953-square-foot retail strip center in Flower Mound, a northern suburb of Fort Worth. The property sits at the front of the 158-acre Riverwalk mixed-use development and was fully leased to three tenants at the time of sale. Hudson Lambert of STRIVE represented the seller and procured the buyer, both of which were locally based entities that requested anonymity.

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CaliforniaInvestment salesNet leaseNews

Progressive Arranges $4.5 Million Sale of Southern California Retail Center

by Hayden Spiess

Carlsbad, Calif. — Progressive Real Estate Partners has brokered the sale of a 4,584-square-foot retail center located in Carlsbad Village in Carlsbad, roughly 35 miles north of San Diego. Mike Lin of Progressive represented the private New York-based seller in the $4.5 million transaction. A private San Diego-based investor, represented by Josh Simms and Ryan King of Voit Real Estate Services, acquired the property. Built in 2019, the center comprises three units currently occupied Harumana Noodles + Buns, Village Optical and The Shop Salon, all occupied on triple net leases.

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