Newington, N.H. — Atlantic Capital Partners has arranged the sale of a 127,058-square-foot retail building formerly occupied by Sears in Newington, located in the southeastern part of New Hampshire. The building is situated within Fox Run Mall. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller in the transaction.
Columbus, Ohio — CASTO has announced the beginning of construction on its redevelopment of Thurber Village, located in Columbus. Following three years of planning, CASTO will undertake renovations to deliver the mixed-use project. The development will be anchored by a 21,000-square-foot Lucky’s Market and will also include a 13,000-square-foot CVS/pharmacy, 225 apartment homes and structured parking.
Miami — JLL Capital Markets has brokered the $44.9 million sale of Deerwood Town Center, located in Miami. Danny Finkle, Eric Williams and Kim Flores of JLL arranged the transaction between the seller, Courtelis Company, and buyer, Core Investment Management. Fresco y Más and The Home Depot anchor the 205,803-square-foot property, which was fully leased at the time of sale. Other tenants include Amped Fitness, Pet Supermarket and TD Bank.
Quakertown, Pa. — First National Realty Partners (FNRP) has acquired Richland Marketplace, a 162,000-square-foot shopping center in Quakertown, about 50 miles north of Philadelphia. Built in 2009, the center houses tenants such as Aldi, Best Buy, PetSmart, Planet Fitness, Staples, Ulta Beauty, Visionworks, Sally Beauty and Skechers. Colin Behr and Chris Munley of JLL represented the undisclosed seller in the transaction.
San Diego — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.1 million loan for the acquisition of The Shops at AMC Palm Promenade, a retail power center located at 756-804 Dennery Road in San Diego. Chad O’Connor of MMCC San Diego secured the financing for the undisclosed borrower. The seven-year, fixed-rate loan has a 5.125 percent interest rate, 30-year amortization and a 60 percent loan-to-value ratio. The seller was not disclosed. Renovated in 2021, the 72,390-square-foot shopping center is located at the on/off ramp of Interstate 805 and …
Loma Linda, Calif. — Progressive Real Estate Partners has arranged a lease with Fitness 19 at Loma Linda Plaza, located in Southern California’s Inland Empire. Fitness 19 will take over a 20,100-square-foot space at the development, which is anchored by Stater Bros. Markets. Paul Su of Progressive represented the lessor, and Chris Beauchamp of Lee & Associates represented Fitness 19. Other tenants at the 117,000-square-foot center include Chevron, H & R Block, Carl’s Jr., Papa John’s Pizza and Boba Tea House.
Plainfield, Ill. — Marcus & Millichap has brokered the $1.9 million sale of a Chili’s ground lease in Plainfield, about 40 miles southwest of Chicago. The restaurant building spans 6,150 square feet. The property at 12740 Illinois Route 59 is situated near Target, Ross Dress for Less and Five Below stores. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an individual trust. The duo also secured and represented the buyer, a Chicagoland private investor and limited liability company.
North Las Vegas, Nev. — Pacific Group has broken ground on Helios, a 135-acre medical campus located in North Las Vegas. Construction costs for the project are set to total between $4.5 billion and $5 billion. At full buildout, the project is set to include a 1.1 million-square-foot inpatient hospital offering 600 beds, which will be built in three phases costing $1.2 billion; 1.3 million square feet of medical office and medical technology space; 250,000 square feet of retail with an emphasis on health and wellness; 900,000 square feet of …
Ocala, Fla. — BSD Capital recently purchased a former Sears department store and Sears Automotive Center in Ocala spanning 148,857 square feet. An affiliate of Seritage Growth Properties, the spun-off REIT from Sears Holding Corp., sold the buildings at a private auction for $3.2 million. Louie Granteed of Tobin Real Estate represented BSD Capital in the acquisition and is leading leasing efforts for the new owner’s redevelopment that will convert the property to a retail and entertainment destination. Granteed says that prospective tenants for the redevelopment include grocers, big-box retailers …
Chicago — Rick Drogosz and Emily Gadomski of Mid-America Real Estate have brokered the sale of Shops of Beverly, a 21,571-square-foot shopping center in the Chicago neighborhood of Beverly. Located within the subregional trade area of Evergreen Park, the center was fully leased at the time of sale. Tenants include Chipotle Mexican Grill, Chase Bank and For Eyes. A private buyer purchased the property from Sperry Equities, which was represented by Mid-America.