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Conroe Shopping Center
Investment salesNewsTexas

Marcus & Millichap Arranges Sale of Conroe Shopping Center in Texas 

by Abby Cox

Conroe, Texas — Marcus & Millichap has arranged the sale of Conroe Shopping Center, a 51,030-square-foot retail center located in Conroe, roughly 40 miles north of Houston. The 18-suite property, which is shadow anchored by Kroger, features a mix of tenants including Workforce Solutions, GNC, Subway and Wingstop. Bill Dang and Justin Miller of Marcus & Millichap’s Houston office, procured the buyer, a Houston-based investor, in the transaction. CBRE represented the undisclosed seller. The sales price was also not disclosed.

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Twin City Shopping Center
Investment salesLeasingNew JerseyNews

LMC Signs Lease with First Indoor Pickleball Facility at Twin City Shopping Center in New Jersey

by Abby Cox

Jersey City, N.J. — North Plainfield, New Jersey-based Levin Management Corp. (LMC) has signed an 8,350-square-foot lease with PB Club to bring the first indoor pickleball facility to Twin City Shopping Center in Jersey City. Nicole Anderocci of LMC represented the landlord in the lease negotiations. PB Club will offer three pro-style indoor courts, a water station, vending and grab-and-go snack options, as well as a lounge area with a private, sound-proof coworking space. PB Club is owned and operated by Ari and Naomi Saposh, who plan to open three …

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The Shops at Butler Crossing
GeorgiaInvestment salesNews

Phillips Edison & Co. Acquires The Shops at Butler Crossing in Metro Atlanta for $13.9 Million

by Abby Cox

Kennesaw, Ga. — Phillips Edison & Co. has acquired The Shops at Butler Crossing, a 56,934-square-foot shopping center located in the Atlanta suburb of Kennesaw, for $13.9 million. Tenants at the center, which was 94 percent leased at the time of sale, include Planet Fitness, Advance Auto Parts, Buffalo’s American Grille, Sola Salon Studios, Jersey Mike’s and Dunkin’ Donuts. The property was originally built in 1997 and sits on 6.7 acres, according to LoopNet. Brad Buchanan, Jim Hamilton, Andrew Kahn and Anton Serafini of JLL’s Investment Sales and Advisory team …

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6815 Biscayne Blvd.
FloridaInvestment salesNews

Marcus & Millichap Brokers $4.6 Million Sale of Retail Center in Miami

by Abby Cox

Miami — Marcus & Millichap has brokered the $4.6 million sale of a five-tenant retail strip center located at 6815 Biscayne Blvd. in Miami’s Modern District. Built in 2003, the 6,200-square-foot property has recently undergone improvements, such as a new roof and exterior renovations. Tenants include The UPS Store, OrthoNOW, ABB Waxing, Subway and Luna Pasta Dolci. Jonathan De La Rosa, Eddie Toledo, Drew A. Kristol and Kirk Olson of Marcus & Millichap’s Miami office, represented the seller, a company doing business as C&A Ltd. Liability Co., in the transaction. The buyer …

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Dutch Bros Coffee drive-thru
CaliforniaInvestment salesNet leaseNews

Hanley Investment Group Arranges $2.8 Million Sale of Single-Tenant Retail Property in Riverside, California

by Abby Cox

Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.8 million sale of a newly constructed single-tenant retail property situated at 4990 Van Blvd. in Riverside. A Dutch Bros Coffee drive-thru occupies the 1,025-square-foot building on a 15-year absolute triple-net ground lease with 10 percent rental increases every five years. Located on a .39-acre retail pad, the building sits adjacent to a Walmart Supercenter and McDonald’s. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Zach Bonsall and Braden Bernards of Portland, Oregon-based Cole Valley …

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South Tempe Square
ArizonaDevelopmentNews

Thompson Thrift Breaks Ground on 27,000-Square-Foot Shopping Center Near Phoenix 

by Abby Cox

Tempe, Ariz. — Indiana-based Thompson Thrift has broken ground on South Tempe Square, a 27,000-square-foot neighborhood shopping center located in Tempe, roughly 10 miles east of Phoenix. Nearly 75 percent of the property is preleased or under lease negotiations. Tenants who have already signed leases include BURN Total Body Conditioning, Pacific Dental, Look Lab, Luna Grill Restaurant, The Slice House by Tony Gemignani and GoodVets. A 4,500-square-foot restaurant pad and two inline retail spaces are still available for lease. A construction timeline was not disclosed.

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Chipotle Mexican Grill and Shell gas station retail properties
DevelopmentInvestment salesKansasNews

Block & Co. Facilitates Sale of Two Retail Properties in Metro Kansas for Redevelopment Project

by Abby Cox

Merriam, Kan. — Block & Co. Inc. Realtors has facilitated the sale of two retail properties located in Merriam, approximately eight miles south of downtown Kansas City, Missouri, as part of a larger redevelopment project. Situated on the northeast quadrant of I-35 and Shawnee Mission Parkway, Chipotle Mexican Grill and a Shell gas station occupy the buildings. The buyer was an affiliate of locally based Drake Development. David M. Block of Block & Company represented the seller in both transactions. The proposed redevelopment area is located near Ikea, Hobby Lobby, Baron BMW, …

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Sugarloaf Village
GeorgiaInvestment salesNews

Prudent Growth Partners Acquires Sugarloaf Village in Suburban Atlanta for $7.3 Million 

by Abby Cox

Lawrenceville, Ga. — North Carolina-based Prudent Growth Partners has acquired Sugarloaf Village, a 32,000-square-foot shopping center located in Lawrenceville, for $7.3 million. Situated approximately 30 miles northeast of downtown Atlanta, the property was originally built in 2008 and features a mix of 17 tenants including lifestyle retailers and service providers. Other nearby retailers include AT&T, Starbucks Coffee, Publix, Target, Marshalls, ALDI, Home Depot, PetSmart, Hobby Lobby and Panera Bread. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, a local private investor, in the transaction.

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ArizonaDevelopmentInvestment salesNews

JLL Arranges $42.5 Million Equity Placement for Papago Marketplace in Metro Phoenix

by Abby Cox

Scottsdale, Ariz. — JLL Capital Markets has arranged a $42.5 million equity placement for Papago Marketplace, a 55,500-square-foot mixed-use development located in the Phoenix suburb of Scottsdale. Patrick Dempsey and Quin Madden of JLL represented the developer, Pivot Development Co., in securing the equity placement on behalf of an undisclosed institutional advisor. A 23,343-square-foot Sprouts Farmers Market will anchor the project upon completion, which is scheduled for August 2026. Construction is expected to begin this month. Over the past five years, the development of Papago Marketplace has included a 276-unit luxury …

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CaliforniaInvestment salesNews

SRS Real Estate Partners Brokers Sales of Three Starbucks-Occupied Properties in California Totaling $10 Million 

by Abby Cox

Cathedral City, Temecula and Redding, Calif. — SRS Real Estate Partners has arranged the sales of three restaurant properties in separate transactions totaling $10 million. Starbucks Coffee occupies the three newly constructed drive-thru properties, which operate under long-term, corporate-guaranteed triple-net leases. The first transaction includes a 1,900-square-foot property in Cathedral City. A Northern California-based private investor acquired the café from a Newport Beach, California-based retail and restaurant development company for $3.7 million. Alexander Moore of SRS Capital Markets represented the buyer in the deal. The second transaction features a 3,600-square-foot property …

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