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JCPenney
Company newsDelawareInvestment salesMarylandNew HampshireNew JerseyNewsVirginia

Copper Property Trust Sells Seven East Coast JCPenney Stores for $65.2 Million

by Hayden Spiess

Jersey City, N.J. — Copper Property CTL Pass Through Trust has sold seven JCPenney retail locations on the East Coast in three transactions totaling $65.2 million. The assets include stores in Delaware, Maryland, New Hampshire and Virginia. The buyers were not disclosed. Copper Property is a New York common law trust that was established to acquire 160 retail properties and six warehouse distribution centers from department store chain JCPenney as part of the retailer’s Chapter 11 reorganization plan. The stores are located at the following malls and shopping centers: Christiana …

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Mainstreet-Boynton-Beach
FloridaGrocery-anchoredInvestment salesNews

PEBB Enterprises, Banyan Development Sell Mainstreet at Boynton Beach for $33 Million

by Hayden Spiess

Boynton Beach, Fla. — A joint venture between PEBB Enterprises and Banyan Development has sold Mainstreet at Boynton Beach, a 52,152-square-foot retail center in Florida. West Parkway Realty bought the center, which was completed in 2021, for $33 million. Sprouts anchors the fully leased development, with other tenants including AT&T, Crown Wine & Spirits, F45, Capitol Carpet & Tile and GoodVets. Danny Finkle and Eric Williams of JLL represented PEBB and Banyan in the transaction.

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Palm-Trails-Plaza
FloridaGrocery-anchoredInvestment salesNews

TSCG Brokers $17 Million Sale of Palm Trails Plaza Shopping Center in Deerfield Beach, Florida

by Hayden Spiess

Deerfield Beach, Fla. — TSCG has brokered the sale of Palm Trails Plaza, a 76,067-square-foot shopping center located at Military Trail and SW 10th Street in Deerfield Beach. An affiliate of Savitar Realty Advisors sold the retail center to an affiliate of Boca Raton, Florida-based Investments Limited for $17 million. Anthony Blanco, Mallory Silva and Nick Ureta of TSCG represented the seller in the all-cash transaction. Completed in 1998 and 2012, Palm Trails Plaza was fully leased at the time of sale to tenants including anchor Walmart Neighborhood Market. The …

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Coral-Springs-Dunkin
FloridaInvestment salesNews

CBRE Facilitates $4.6 Million Sale of Retail Center in Metro Fort Lauderdale

by Hayden Spiess

Coral Springs, Fla. — CBRE has arranged the sale of a 4,088-square-foot neighborhood retail property in Coral Springs, approximately 20 miles northwest of Fort Lauderdale. Anchored by Dunkin’ Donuts, the center is also leased to a dry cleaner. An undisclosed local buyer purchased the property for $4.6 million. Benjamin Silver of CBRE represented the seller, PROLEG 102 LLC, in the transaction.

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Manhattan-Village
CaliforniaLeasingNews

New Tenants to Open at Manhattan Village in Manhattan Beach, California

by Hayden Spiess

Manhattan Beach, Calif. — West Elm, Alo Yoga and Saint & Second are among seven new tenants set to open at Manhattan Village in Manhattan Beach, California. Scheduled to open in 2022 and 2023, these tenants will join other recent additions to the 648,000-square-foot center, such as Anthropologie and Urban Outfitters. This expansion of retail and dining offerings comes following the completion earlier this year of a $250 million redevelopment project managed by JLL.

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Barrett-Pavilion-Kennesaw
GeorgiaInvestment salesNews

Octave Holdings and Investments Acquires Barrett Pavilion for $58.75 Million

by Hayden Spiess

Kennesaw, Ga. — Octave Holdings and Investments has purchased Barrett Pavilion, a 369,971-square-foot center located near Town Center Mall in Kennesaw. The property was acquired from a joint venture between Stockbridge and Lincoln Property Co. via Octave’s investment vehicle Octave Opportunity Fund LLC for $58.8 million. Barrett Pavilion is shadow anchored by Target and leased primarily to national tenants including Total Wine & More, Ulta Beauty, AMC, Old Navy, REI, Ted’s Montana Grill and Cold Stone Creamery. The center will be managed by Pinnacle Leasing and Management.    

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One-Wheeler-Road
DevelopmentFinanceMassachusettsNews

Fantini & Gorga Arranges $12.5 Million Financing for Redevelopment of Burlington, Massachusetts Property

by Hayden Spiess

Burlington, Mass. — Casimir Groblewski and Colin Monahan of Fantini & Gorga have arranged a $12.5 million mortgage for an undisclosed client. The financing — secured through a financial institution based in the Greater Boston area — is for the redevelopment of One Wheeler Road in Burlington. The new development, to be named Gateway Burlington, will replace an existing structure and feature a modern design with over 22,000 square feet of leasable space. Construction has begun on the project, which is scheduled for completion later this year.  

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Lauren-Holden-Jessica-Zaski
Company newsIllinoisNews

Two New Senior Real Estate Executives Join ShopCore

by Hayden Spiess

Chicago — ShopCore Properties, an affiliate of Blackstone, has named Lauren Holden as executive vice president and chief operating officer and Jessica Zaski as executive vice president and chief transactions officer. Holden joins the company from Clarion Partners, where she was head of asset management. Zaski previously served as senior vice president and co-head of acquisitions for Acadia Realty Trust. Additionally, the company will be taking on the management of 52 shopping centers for Blackstone. These grocery-anchored centers were recently acquired by Blackstone Real Estate Income Trust.

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Investment salesKansasNews

Blue West Capital Negotiates Sale of 22,800-Square-Foot Retail Property in Wichita, Kansas

by Hayden Spiess

Wichita, Kan. — Blue West Capital has negotiated the sale of Killarney Center, a 22,800-square-foot retail property in Wichita. Located at 3101 N. Rock Road, the center is home to Golftec, T-Mobile, Oh Yeah China Bistro, Oreck Clean Home and The Health Connection. The sale also included a Scooters Coffee ground lease. Shawn Dickmann and Carly Kelly of Blue West Capital represented the buyer, an out-of-state, private real estate investment company. The seller and sales price were not released.

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Planet-Fitness-New-Smyrna
FloridaInvestment salesNews

SRS Arranges $9.45 Million Sale of 101,728-Square-Foot Shopping Center in New Smyrna Beach, Florida

by Hayden Spiess

New Smyrna Beach, Fla. — The Investment Properties Group of SRS Real Estate Partners has arranged the $9.45 million sale of New Smyrna Shopping Center, a 101,728-square-foot shopping center in New Smyrna Beach. Kyle Stonis and Kevin Yaryan of SRS represented both the seller, RCC New Smyrna Beach Shopping Center LLC, and buyer, Emerald Eagles LP, in the transaction. AMC, Planet Fitness, and Dollar General anchor the center, which was 98 percent occupied at the time of sale.  

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