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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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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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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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Regal-Celebration-Pointe
Company newsNews

Regal Cinemas’ Parent Company Cineworld Group Files for Chapter 11 Bankruptcy Protection

by Katie Sloan

Brentford, U.K. — Cineworld Group, parent company to Regal Cinemas among other international theater brands, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas.  While a specific plan regarding the company’s real estate was not announced, Cineworld expects to pursue an “optimization strategy” regarding its locations across the U.S. as part of its bankruptcy proceedings. The company is engaging in discussions with its landlords on improving cinema lease terms in hopes of further positioning Cineworld for long-term growth in the U.S., the …

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Investment salesNevadaNews

Phillips Edison Acquires Las Vegas Crossroads Towne Center

by Katie Sloan

Las Vegas — Phillips Edison and Company Inc. (PECO) has purchased Crossroads Towne Center in Las Vegas. Anchored by Walmart, the 148,770-square-foot community shopping center is home to a mix of national and local retailers and restaurants, such as Planet Fitness, Bath & Body Works, Bank of America, Salon Boutique, Mattress Firm, CosmoProf and Dickey’s BBQ. This center is the fifth in the greater Las Vegas market to be acquired by PECO. 

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ConnecticutInvestment salesNet leaseNews

New England Retail Properties Arranges $10.5 Million Sale of Six Retail Properties in Connecticut

by Katie Sloan

Wethersfield, Conn. — New England Retail Properties has arranged the sale of six retail properties in Connecticut net leased to Smithland Supply. Matt Halprin of Wethersfield, Connecticut-based New England Retail represented the sellers — Retail Property One LLC, Retail Property Two LLC, Retail Property Three LLC and Retail Property Four LLC — in the transactions. Previously operated as Agway stores, the freestanding Smithland Supply properties are located in Manchester, Southington, Bethel, North Haven, Middlefield and North Branford, Connecticut. The properties were acquired by Trio Fund I CT Portfolio.

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Piqua-Starbucks
Investment salesNet leaseNewsOhio

Cooper Commercial Investment Group Arranges $2.8 Million Sale of Starbucks Location in Suburban Dayton

by Katie Sloan

Piqua, Ohio — Cooper Commercial has arranged the $2.8 million sale of a single-tenant retail building occupied by Starbucks Coffee in the Dayton suburb of Piqua. Dan Cooper of Cooper Commercial represented the seller, a private developer out of the Midwest, in the disposition of the property to an undisclosed Missouri-based buyer. The location was designed according to the latest Starbucks prototype, featuring a drive-thru lane, patio and prominent signage. The property is occupied under a 10-year, triple-net-lease featuring 10 percent rent increase every five years.

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GeorgiaInvestment salesNews

Hackney Trades Two Grocery-Anchored Shopping Centers in Metro Atlanta for $29 Million

by Katie Sloan

Acworth and Smyrna, Ga. — Hackney Real Estate Partners has sold two grocery-anchored shopping centers in metro Atlanta for $29 million. The assets include the 144,678-square-foot Cherokee Corners in Acworth and the 185,601-square-foot Concord Village in Smyrna. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL represented Hackney in the portfolio transaction. Both shopping centers are anchored by Food Depot, which has recently signed a 10-year renewal at both locations. Built in 1984 and renovated in 2016, Cherokee Corners was fully leased at the time of sale to tenants such as …

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