Iowa City, Iowa — Colliers has brokered the sale of Iowa City Marketplace in Iowa City. The 237,594-square-foot shopping center is located along State Route 6 between Sycamore Street and Lower Muscatine Road. The property is 66 percent leased to 24 tenants such as Dollar Tree, Planet Fitness, Jo-Ann Stores, Marcus Theatres, Sally Beauty, Great Clips, McDonald’s and Panera Bread. El Warner, Charley Simpson and Jeffrey Wyatt of Colliers represented the seller, Core Pacific Advisors.
Norwell, Mass. — JLL Capital Markets has arranged the sale of a Stop & Shop location in Norwell. The 59,519-square-foot single-tenant grocery store is located roughly 25 miles southeast of Boston. A team led by Nat Heald of JLL represented the seller in the transaction. Bailard Real Estate Fund was the buyer.
Mid-America Real Estate Corp. Brokers Sale of 268,893-Square-Foot Shopping Center in Metro St. Louis
Northwoods, Mo. — Mid-America Real Estate Corp.’s Investment Sales Group has arranged the sale of North Oaks Plaza, a 268,893-square-foot shopping center located in Northwoods, roughly 8 miles northwest of St. Louis. Emily Gadomski and Ben Wineman of Mid-America, in association with Tim McFarland of Sansone Group, represented the private seller in the 1031 exchange transaction. The grocery-anchored property was 74 percent leased at the time of sale to tenants including Save A Lot, Citi Trends, St. Louis County Career Center & Workforce Training, Fresenius Medical Care and H&R Block.
Grand Prairie, Texas — Bass Pro Shops and Andretti Indoor Karting and Games have announced plans to open new locations in Grand Prairie, approximately 13 miles west of Dallas. Andretti’s 96,000-square-foot facility is set to open by the end of 2023 and will feature an indoor climate-controlled kart track, an arcade, virtual reality games, laser tag and duckpin bowling. Bass Pro Shops will open a 100,000-square-foot store offering outdoor equipment and clothing, with an aquarium of native fish species, local antiques and artifacts, and trophy fish and wildlife mounts. The …
Forest City, N.C. and Cedartown, Ga. — RealSource Group has arranged the $7.9 million sale-leaseback of a portfolio consisting of two Mach-1 Express Wash properties. Both assets are single-tenant 4,000-square-foot properties located in Walmart-anchored shopping centers. One of the properties is located in Forest City, North Carolina, roughly 65 miles west of Charlotte. The second property is located in Cedartown, Georgia, 60 miles outside of downtown Atlanta. Austin Blodgett of RealSource and Chris Salemi of Aileron Capital Management represented the seller, Mach One (Holdings) Limited. The undisclosed New Jersey-based institutional …
Greenville, S.C. — The retail division of SVN | Blackstream, dubbed Reedy River Retail, has negotiated the $10.7 million sale of Woodruff Village Shopping Center in Greenville. Located at 1810-1848 Woodruff Road, the property’s tenant roster includes Planet Fitness, Social Latitude and Habitat for Humanity’s Restore. Daniel Holloway and Dustin Tenney of Reedy River Retail represented the seller, an entity doing business as Woodruff Investment National Exchange LLC, in the transaction. Rox Pollard of Colliers represented the buyer, MarBro Realty LLC.
Charlotte, N.C. — CBRE has announced plans for the renovation and rebranding of EpiCentre, a 302,324-square-foot mixed-use development in uptown Charlotte. Significant improvements are currently underway, including repairs to the property’s courtyard, parking garage, patios and roof. The development originally opened in 2008 and is to be renamed Queen City Quarter. Kivett Williams and Kris Westmoreland of CBRE are the exclusive marketing and leasing agents for the retail and office spaces respectively.
Odessa, Fla. — Tommy Ware of Northmarq has arranged $4.5 million in refinancing for Keystone Crossing Shopping Center, located in Odessa, approximately 25 miles north of Tampa. Built in 2001, the 47,817-square-foot grocery-anchored retail center sits on a six-acre property. This refinancing comes in the form of a permanent-fixed loan, secured through a life company lender.
Moreno Valley, Calif. — Progressive Real Estate Partners has arranged the $2.8 million sale of a property located in Moreno Valley to Southern California-based Mexican restaurant chain Kalaveras. The 8,927-square-foot building previously housed a Woody’s Restaurant, which closed in late 2021. Albert Lopez and Greg Bedell of Progressive represented the seller, a Southern California-based private investor. Allen Kirschbaum of Saddleback Realty represented Kalaveras in the transaction.
Quakertown, Pa. — Cronheim Mortgage has arranged $9 million in permanent financing for a 210,000-square-foot shopping center in Quakertown, located approximately 40 miles north of Philadelphia. Anchored by Giant, the unnamed center also houses tenants such as Rite Aid, Buffalo Wild Wings, H&R Block and Panera Bread. Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the financing on behalf of the borrower, a subsidiary of New York City-based ADCO Group. An undisclosed life insurance company provided the loan.