News

Triangle at Classen

Oklahoma City — A joint venture between Bain Capital and 11North Partners has acquired three open-air, lifestyle retail centers in Oklahoma City for $212 million. The nearly 40-acre portfolio includes Nichols Hills Plaza, The Triangle at Classen Curve and Classen Curve, which totals 290,598 square feet, according to Oklahoma City Retail. Located near Integris Baptist Medical Center and Chesapeake Energy Corp., the three centers are anchored by Whole Foods and Trader Joe’s. There are more than 50 additional tenants throughout the properties, including Warby Parker, lululemon, West Elm, Anthropologie, Sephora and …

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Suncadia Social

Cle Elum, Wash. — Suncadia will open a new retail village and community hub in the 6,400-acre master-planned community of Suncadia in Cle Elum. Dubbed Suncadia Social, the $18 million project will span 11 acres. The center of Suncadia Social will house a 16,500-square-foot retail space, where Roselyn Grocery will anchor the development. Confirmed tenants at the property include Cutter’s Point Coffee, Out West Trading Co., Old Wood Signs, Hive HomeGoods and Alluvium Cellars, as well as G.H. Pasta & Pizza, a General Harvest Restaurant concept. Suncadia Social is scheduled …

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Breton Village

Grand Rapids, Mich. — Massachusetts-based WS Development and Barings, a subsidiary of MassMutual, have acquired Breton Village, a 200,000-square-foot shopping center located in Grand Rapids. Originally built in the 1960s and 1970s as a retail strip center, Breton Village was purchased in 2002 and later redeveloped in 2017 by a group of local investors doing business as Breton Village LLC. Investment partners in the redevelopment included Scott Wierda, Brian DeVries, Dan DeVos and Dan Bowen. Breton Village is home to a mix of tenants including lululemon, Joseph A. Bank, Talbots, LOFT, …

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Marston Park Plaza

Littleton, Colo. — Ziff Real Estate Partners has purchased Marston Park Plaza, a 101,500-square-foot shopping center located roughly 10 miles outside Denver, for $17.9 million. Situated in Littleton at the intersection of South Wadsworth Blvd. and Belleview Avenue, the center comprises 23 tenants including Chase Bank, Club USA, The Tile Shop, Subway and Edible Arrangements. This transaction marks ZRP’s second retail acquisition in the Denver metro area.

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Williamsburg Marketcenter

Williamsburg, Va. — Marcus & Millichap Capital Corp. (MMCC) has arranged the $8.2 million financing for Williamsburg Marketcenter, a 176,000-square-foot regional shopping center located at 6610 Mooretown Road in Williamsburg. The 10-year loan includes a 6.3 percent interest rate with a 25-year amortization period and a 75 percent loan-to-value. Garrett Fierstein of MMCC’s Orlando office secured the financing on behalf of a private client. Anchored by Ross Dress For Less and Dollar Tree, the center includes a mix of additional tenants including Supercuts, Ukrop, Navy Federal Credit Union and Petco, …

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Crabtree Mall

Raleigh, N.C. — The Macerich Co. has acquired Crabtree Valley Mall, a Class A retail property totaling approximately 1.3 million square feet in Raleigh, for $290 million. The seller was CVM Holdings LLC, according to local news outlet WRAL. The largest mall in North Carolina’s Research Triangle area, Crabtree opened in 1972 and is home to more than 200 stores and restaurants. Anchor tenants at the property include Belk and Macy’s. Additional retailers include Apple, Banana Republic, Brahmin, Brooks Brothers, Build-A-Bear Workshop, Chubbies, Coach, H&M, The LEGO Store, Michael Kors, TAG …

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Aurora Plaza

Aurora, Colo. — JLL Capital Markets has arranged the $16 million sale of Aurora Plaza, a 115,461-square-foot shopping center located in Aurora, roughly nine miles east of Denver. Anchored by King Soopers, Cinema Latino and Gen X Clothing, the property was 80 percent leased to 27 tenants including medical offices, service providers, restaurants and retail shops at the time of sale. Built in 1982 and renovated in 2001, Aurora Plaza spans 10.6 acres. Jason Schmidt and Austin Snedden of JLL’s Investment Sales and Advisory team represented the seller in the transaction. …

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Spring Lake Town Center

Spring Lake, N.C. and Jackson, Miss. — Marcus & Millichap has arranged the $6.8 million sale of two retail properties totaling 53,000 square feet in Spring Lake, North Carolina, and Jackson, Mississippi. Built in 2004, Spring Lake Town Center totals 29,841 square feet and was 85 percent leased at the time of sale. A Walmart Supercenter shadow anchors the property, which features a mix of additional tenants including Dollar Tree, AT&T, GameStop, Cricket Wireless, Cato, Papa Murphy’s and OneMain Financial. The second property, a 24,069-square-foot retail center located at 4882-4898 Highway …

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Trader-Joes_Eagan-Minn

New Orleans — The Feil Organization will open a new Trader Joe’s at 2501 Tulane Avenue in New Orleans, marking the grocer’s first introduction to the city. Located across from the New Orleans VA Medical Center, the site will house a 13,368-square-foot store, 100 parking spaces and pedestrian-friendly access points. In addition to Trader Joe’s, the development will include a 3,000-square-foot dental clinic, according to The Bayou Insider. Feil originally acquired the site in 2016 and signed a retail lease with Trader Joe’s in 2023. The new store is expected to …

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Dairy Queen

Alice, Texas — Hanley Investment Group has arranged the sale-leaseback of a single-tenant retail property located in Alice. Dairy Queen occupies the 2,608-square-foot building on a 20-year absolute triple-net-lease basis which includes 2 percent rent increases every five years. Originally built in 1983 and renovated in 2015, Dairy Queen has operated at this location for more than 30 years. Garrett Wood of Hanley represented the seller, R&L Lozano Leasing, a company doing business as F&P Development. David Bynum of Bynum Inc. represented the buyer, an entity doing business as Susan Caratan …

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