Atlanta — Scofflaw Brewing Co. will open a 5,500-square-foot space at Oxton, a 35,000-square-foot food and retail project to be developed by Ardent Cos., Westbridge and Bridger Properties at the Piedmont Center office campus in Atlanta. Scheduled to open in 2024 and marking the first tenant at the development, the taproom and brewery will feature access to an adjoining courtyard. Square Feet Studio Architects is leading the design of Oxton, which was announced earlier this year. Bridger is handling retail leasing at the property.
Canton, Ga. — Acadia Realty Trust has received a $36 million loan for the refinancing of Canton Marketplace, a 335,445-square-foot shopping center in Canton, roughly 40 miles north of Atlanta. The property is 95 percent leased to tenants including Dick’s Sporting Goods, Best Buy, T.J. Maxx and pOpshelf. Mike Ryan, Brian Linnihan, Richard Henry and JP Cordeiro of CBRE secured the financing on behalf of Acadia through Voya Investment Management.
Henrico and Midlothian, Va. — H.I.G. Realty Partners has purchased a shopping center portfolio for $110 million and formed a joint venture partnership with Rosenthal Properties and FarmViewVentures. Totaling 592,000 square feet, the portfolio includes Parham Plaza, Ridge Shopping Center and Staples Mill Square in Henrico, roughly 10 miles outside Richmond and Stonehenge Village Center in Midlothian, roughly 15 miles outside Richmond. The portfolio was approximately 95 percent leased at the time of sale to tenants including Wegmans, Walmart, The Fresh Market and Aldi. Todd Soloway, Danielle Schechner, Ari Tran, Benjamin …
Sunrise, Fla. — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided a $12.8 million bridge loan for Pine Island Plaza, a 104,000-square-foot, grocery-anchored shopping center in Sunrise. The borrower was not disclosed. The South Florida shopping center comprises 21 tenants, including an unnamed national grocer that will open its doors in June.
Orlando, Fla. — Marcus & Millichap has arranged the $7.2 million sale of a single-tenant property located in Orlando. CVS/pharmacy occupies the 13,616-square-foot building on a net-lease basis. Ronnie Issenberg, Gabriel Britti and Ricardo Esteves of Marcus & Millichap represented the undisclosed seller in the transaction.
Chesterfield, Mo. — Keystone Construction Co. has completed Hub Stl, a $4 million outdoor entertainment space at The District of St. Louis in Chesterfield, roughly 20 miles outside St. Louis. The District is devoted to live music, food and beverage concepts and retail space. Construction on Hub Stl, which features a performance stage and viewing area with a 400-person capacity, began last fall. A large LED screen and sound and lighting system will be installed later this summer. The performance area will be encircled by local restaurants with patios, a brewery …
New York City — Global Net Lease (NYSE: GNL) and The Necessity Retail REIT (NASDAQ: RTL) have entered into a merger agreement under which GNL will acquire RTL in an all-stock transaction. The combined company is expected to own and manage over 1,350 properties with an aggregate real estate asset value of approximately $9.6 billion. Under terms of the merger agreement, GNL stockholders are expected to own approximately 45 percent of GNL post-closing, RTL stockholders are expected to own about 39 percent, and the owner of the former external manager are …
Hingham, Mass. — Newmark has brokered the $45.2 million sale of Lincoln Plaza, a 127,505-square-foot shopping center located in Hingham, approximately 20 miles outside Boston. A 68,087-square-foot Stop & Shop grocery store and a 31,882-square-foot Marshalls anchor the center, which was 99 percent leased at the time of sale. Robert Griffin, Jon Martin, Paul Penman and Matthew Adler of Newmark represented the seller, AEW, in the transaction and procured the buyer, a subsidiary of Jumbo Capital Inc. Casey O’Brien and Connor Scott of Newmark provided financial analysis support for the deal.
Torrance, Calif. — NAI Capital Commercial has brokered the $6.7 million sale of Sylvia Square, a retail strip center located in Torrance. Built in 1974, the property comprises 15,234 square feet. Sheri Messerlian and David Shaby of NAI represented the seller, an entity doing business as Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, in the transaction.
San Diego — Beta Agency has arranged the $5.8 million sale of a freestanding retail property located in San Diego. CVS/pharmacy occupies the 16,972-square-foot building. Adam Friedlander of Beta represented the buyer, a private local investor. Connor Olandt of Matthews REIS represented the seller, Tian Ren Di LLC.