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CaliforniaDevelopmentMixed-useNews

Anaheim City Council Approves $4 Billion ocV!BE Mixed-Use Entertainment District Surrounding Honda Center

by Hayden Spiess

Anaheim, Calif. — The Anaheim City Council has approved plans for the $4 billion ocV!BE mixed-use entertainment district to surround the Honda Center, home of the NHL’s Anaheim Ducks. With this approval, construction of the project is scheduled to begin before the end of the year. Plans for the 95-acre development call for a 5,700-seat concert hall, 50,000-square-foot market hall, 20 acres of public space, two hotels totaling 650 rooms, approximately 1.1 million square feet of office space and 1,500 apartments with a 15 percent affordable housing component. The site …

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Tin-Building_Pier-17_Seaport_Lower-Manhattan
DevelopmentNew YorkNews

Howard Hughes Opens 53,000-Square-Foot Tin Building Food Hall in Former Fish Market in Lower Manhattan

by Hayden Spiess

New York City — The Howard Hughes Corp. (NYSE: HHC) and chef Jean-Georges Vongerichten have opened the Tin Building by Jean-Georges, a 53,000-square-foot food hall at Pier 17 at the Seaport in Lower Manhattan. The new culinary destination is an adaptive reuse of the Tin Building, a historic waterfront property that once served as the site of the Fulton Fish Market. The new food hall features six new full-service restaurant concepts and six fast-casual counters, as well as three specialty retailers and bars serving wine, craft cocktails and craft beers. …

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CaliforniaGrocery-anchoredInvestment salesNews

SRS Brokers $17.3 Million Sale of Three Retail Outparcels at French Valley Marketplace in California

by Hayden Spiess

French Valley, Calif. — SRS Real Estate Partners has arranged the portfolio sale of three retail properties that are outparcels to French Valley Marketplace, located at 35958 Winchester Road in French Valley. A Southern California-based private developer sold the assets to a Southern California-based private investor for $17.3 million in an all-cash transaction. The three properties are: A 16,000-square-foot Grocery Outlet-occupied property that opened in late 2021. An 11,115-square-foot new construction property, which Rite Aid will occupy in late 2022. A 5,559-square-foot building currently under construction that Chipotle Mexican Grill …

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Har-Mar-Roseville-MN
Grocery-anchoredInvestment salesMinnesotaNews

CBRE Negotiates Sale of 446,308-Square-Foot Retail Center in Suburban Minneapolis

by Hayden Spiess

Roseville, Minn. — CBRE has negotiated the sale of Har Mar Mall in Roseville, a suburb just north of the Twin Cities. Located at 2100 Snelling Ave., the retail power center spans 446,308 square feet and is home to tenants such as Cub Foods, Burlington, Barnes & Noble, Marshalls, HomeGoods, Michaels and K&G Fashion Superstore. CBRE represented the seller, Clarion Partners. Fidelis was the buyer.

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Lake-Ridge-Commons-Woodbridge-Virginia
Grocery-anchoredInvestment salesNewsVirginia

ShopOne, Pantheon Acquire Shopping Center in Metro Washington DC

by Hayden Spiess

Woodbridge, Va. — ShopOne Centers REIT Inc., in a joint venture with Pantheon, has acquired Lake Ridge Commons, a 74,367-square-foot shopping center located in Woodbridge, roughly 20 miles south of Washington, D.C.. Anchored by a 52,706-square-foot Giant Food, the center is also home to tenants including Banfield Pet Hospital and YogaSix.

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FinanceGrocery-anchoredInvestment salesNewsNorth Carolina

Northmarq Secures $21 Million in Acquisition Financing for Triangle Area Retail Center

by Hayden Spiess

Cary, N.C. — David Garfinkel of Northmarq’s St. Louis office has arranged $21 million in financing for the acquisition of Bradford Square, a 78,628-square-foot retail center located in the Raleigh suburb of Cary. Financing was secured in the form of a permanent-fixed loan from a life insurance company on behalf of National Real Estate Management (NRE). Anchored by Publix, the center was fully leased at the time of its sale to NRE, with tenants including Cary Salon, Night and Day Dental, First Watch, Brixx Wood Fired Pizza, Burger 21 and …

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Barrows-Plaza-Tigard-OR
Investment salesNewsOregon

Norris & Stevens Arranges $4.7 Million Acquisition of Barrows Plaza Shopping Center in Portland Suburb

by Hayden Spiess

Tigard, Ore. — Norris & Stevens has brokered the sale of Barrows Plaza, a retail center located at 14200 and 14250 SW Barrows Road in Tigard, a suburb of Portland. OPI Aloha LLC & RYL Court LLC acquired the asset for $4.7 million. Constructed in 1998, the 7,999-square-foot shopping center is situated on 1.1 acres. The one-story property has a history of long-term tenancy, with over 50 percent of the space occupied by the same tenants since 1998 and 1999. Todd VanDomelen of Portland-based Norris & Stevens represented the buyer, …

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CaliforniaInvestment salesNet leaseNewsRestaurants

SBH Real Estate Group Divests of Pollo Campero-Occupied Restaurant Property

by Hayden Spiess

Covina, Calif. — SBH Real Estate Group has completed the disposition of a triple-net-leased restaurant asset located at 1477 N. Azusa Ave. in Covina. HB Property Management acquired the asset for $4.6 million. Pollo Campero, a fast-casual restaurant chain, signed a 15-year ground lease to occupy the restaurant property, which is slated to open for business at the end of September. Matt Schwartz of Newmark represented Eric Silverman of SBH Real Estate Group, while Moon Lim of JLL represented the buyer in the deal.

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GeorgiaLeasingNews

Three New-to-Market Tenants Join Suburban Atlanta Development

by Hayden Spiess

Alpharetta, Ga. — RocaPoint Partners has announced the addition of three new-to-market tenants to Halycon, a mixed-use development in Alpharetta. X-Golf, Rhen’s Nest and Eco Denizen are slated to open by the end of this year. X-Golf, a golf simulator and sports bar, will occupy a 6,692-square-foot space; Rhen’s Nest, a children’s toy store, will occupy a 1,384-square-foot space; and Eco Denizen, an artisanal gift shop, will occupy 1,400 square feet.

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Colonial-Commons-Harrisburg
Investment salesNewsPennsylvania

IPA Brokers Sale of 410,432-Square-Foot Shopping Center in Harrisburg, Pennsylvania

by Hayden Spiess

Harrisburg, Pa. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of Colonial Commons, a 410,432-square-foot retail center in Harrisburg. The center, which was built in 1989 and renovated in 2014, was 98 percent leased at the time of sale and is anchored by tenants including Hobby Lobby, Dick’s Sporting Goods, HomeGoods, Marshalls, Ross Dress for Less, Jo-Ann Fabrics, Ulta and Old Navy. A PetSmart store is also set to open in 2023. Brad Nathanson of IPA represented the seller and procured the buyer.

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