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FloridaLeasingNews

HomeSense to Open 30,000-Square-Foot Store at University Town Center in Sarasota, Florida

by Hayden Spiess

Sarasota, Fla. — HomeSense will open a 30,000-square-foot store at University Town Center (UTC) in Sarasota, marking the home furnishing retailer’s first location in the state. Benderson Development’s UTC is a mixed-use property comprising over 250 specialty stores, more than 80 restaurants, three hotels and over 250,000 square feet of office space. HomeSense, part of the TJX Cos. portfolio, is scheduled to open its store on Nov. 10. Other soon-to-open retailers at the 4 million-square-foot UTC property include Christmas Tree Shops, Rocco’s Tacos and Tequila Bar, Yard House, Foxtail Coffee …

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Investment salesNewsPennsylvania

CBRE Brokers $7.4 Million Sale of Veterinary Clinic in Philadelphia Suburb

by Hayden Spiess

Norristown, Pa. — CBRE has brokered the $7.4 million sale of a 25,150-square-foot veterinary clinic in Norristown, a northwestern suburb of Philadelphia. Metropolitan Veterinary Associates occupies the facility, which was originally built in 1987 and renovated in 2019, on a triple-net basis. Michael Shover, Matthew Gorman, Thomas Finnegan and Rob Thompson of CBRE represented the seller, an entity doing business as LMP Van Buren LLC, in the transaction. The team also procured the buyer, a Nashville-based limited liability company.

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DevelopmentIllinoisNewsRestaurants

Newcastle Properties to Begin Construction on Additions to Eastgate Crossing in Suburban Chicago

by Hayden Spiess

Naperville, Ill. — Newcastle Properties is set to begin construction on an 8,300-square-foot, multi-tenant outlot building and a 3,260-square-foot endcap space at Eastgate Crossing in the Chicago suburb of Naperville. The new development will be home to Kura Revolving Sushi Bar and NaanSense, an Indian fast-casual chain. Adam Cody of JLL represented Kura, and Phil Golding of CBRE represented NaanSense in the leasing transactions. Midwest Construction Partners will serve as general contractor, and Sean Devine of Newcastle Properties is the project manager. Eastgate Crossing currently spans 270,327 square feet and …

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DevelopmentLeasingNew JerseyNewsRestaurants

Alfred Sanzari Enterprises to Open 3,350-Square-Foot Food Hall in Teaneck, New Jersey

by Hayden Spiess

Teaneck, N.J. — Alfred Sanzari Enterprises will open Marketplace, a 3,350-square-foot food hall in the Northern New Jersey community of Teaneck. Located within the firm’s 670,000-square-foot Glenpointe campus, Marketplace has already received commitments from concepts such as kosher deli Ma’adan, Colombian coffee shop Coffeecol, French-inspired Balthazar Bakery and ice cream maker Sip N Swirl. Marketplace will officially open Friday, Oct. 21. White Lodging will manage the venue.

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Laveen-Park-Place-Phoenix-AZ
ArizonaGrocery-anchoredInvestment salesNews

Tradewinds Capital Acquires Laveen Park Place Shopping Center in Phoenix for $40.3 Million

by Hayden Spiess

Phoenix — Tradewinds Capital LP has purchased the newly constructed Laveen Park Place, a shopping center located in the Laveen neighborhood of Phoenix. LB 59th LLC, an entity formed by Kitchell Corp., sold the property for $40.3 million. Built in phases between 2019 and 2022, Laveen Park Place offers 109,219 square feet of retail space on 17.5 acres at the southeast corner of Loop 202 and Baseline Road. Sprouts Farmers Market, TJ Maxx and Michaels are tenants at the fully occupied shopping center. Michael Hackett and Ryan Schubert of Cushman …

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Twin-Creeks
Investment salesMissouriNews

Colliers Brokers $32 Million Sale of Twin Creeks Shopping Center in Kansas City

by Hayden Spiess

Kansas City, Mo. — Colliers has brokered the $32 million sale of Twin Creeks Shopping Center in Kansas City. The 257,450-square-foot property is located along North Madison Avenue. The center was 99 percent leased at the time of sale to 14 tenants, including Kohl’s, Ross Dress for Less, Ulta Beauty, Petco, Five Below, Famous Footwear, Bath & Body Works, Spectrum and AT&T. A Target store at the property was not included in the sale. El Warner, Charley Simpson, Caitlin Zirpolo and Drew Quinn of Colliers represented the seller, an entity …

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River-City-Marketplace
Grocery-anchoredInvestment salesMissouriNews

First National Realty Partners Acquires 158,000-Square-Foot Shopping Center in Metro St. Louis

by Hayden Spiess

O’Fallon, Mo. — First National Realty Partners has acquired River City Marketplace in O’Fallon, about 37 miles northwest of St. Louis. A 31,000-square-foot Fresh Thyme Market anchors the 158,000-square-foot shopping center. Fresh Thyme has operated at the property since 2015. Additional tenants include Total Wine & More, Ross Dress for Less, Five Below, Kirkland’s and Kay Jewelers. The property was built in 2005, according to LoopNet. Evan Halkias, David Matheis and Link Dierks of Cushman & Wakefield represented the undisclosed seller in the transaction.

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Investment salesNew YorkNews

Regal Ventures Acquires Manhattan Retail, Parking Condo for $35.2 Million

by Hayden Spiess

New York City — Regal Ventures has acquired a 37,165-square-foot retail and parking condo located at 897 Eighth Ave. in Manhattan’s Hell’s Kitchen neighborhood for $35.2 million. The property’s retail component is 15,893 square feet, and the parking space spans 21,272 square feet. Regal Ventures acquired the property in partnership with Morrison Street Capital from Prudential Financial.

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1300-E-Valley-Blvd-Alhambra-CA
CaliforniaFinanceInvestment salesNews

SBH Real Estate Group Sells Raising Cane’s-Occupied Property in Alhambra, California for $8.2 Million

by Hayden Spiess

Alhambra, Calif. — SBH Real Estate Group has completed the disposition of the ground lease for a single-tenant restaurant building located in Alhambra. A Southern California-based private investor acquired the asset for $8.2 million. Raising Cane’s Chicken Fingers occupies the 3,957-square-foot property, which is situated on 1.4 acres at 1300 E. Valley Blvd. The newly developed building features the restaurant’s latest prototype design and opened for business in June 2022. The property offers a double drive-thru and includes a 704-square-foot outdoor patio area. Matthew Mousavi and Patrick Luther of SRS …

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Champions-Village-Houston
Company newsIdahoNewsOhio

Kroger to Acquire Albertsons in $24.6 Billion Merger of Grocery Giants

by Hayden Spiess

Cincinnati and Boise, Idaho — Kroger Co. (NYSE: KR) and Albertsons Cos. Inc. (NYSE: ACI) have agreed to a merger in which Kroger will acquire all outstanding shares of Albertsons’ common and preferred stock for an estimated total consideration of $34.10 per share, or a total enterprise value of approximately $24.6 billion. The deal includes the assumption of $4.7 billion of Albertsons’ net debt. Both company’s boards of directors unanimously approved the agreement. The purchase price represents an approximately 32.8 percent premium to the closing price of ACI stock on …

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