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Valley-Crossing
Investment salesNewsNorth Carolina

JLL Brokers $20.7 Million Sale of Valley Crossing Shopping Center in Hickory, North Carolina

by Katie Sloan

Hickory, N.C. — JLL Capital Markets has brokered the $20.7 million sale of Valley Crossing, a 191,431-square-foot shopping center located in Hickory. The property was 98.2 percent leased at the time of sale to tenants including Academy Sports + Outdoors, Ollie’s Bargain Outlet, JOANN Fabrics and Craft, Harbor Freight Tools, Dollar Tree and American Freight Furniture. Valley Crossing was developed in 1988 and is located at 2154 US Highway 70 SE. Tom Kolarczyk and Brad Peterson of JLL represented the seller, an undisclosed public REIT, in the disposition of the …

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Lanier-Plaza
GeorgiaNews

Berkeley Capital Advisors Negotiates Sale of 203,876-Square-Foot Shopping Center in Brunswick, Georgia

by Katie Sloan

Brunswick, Ga. — Berkeley Capital Advisors has negotiated the sale of Lanier Plaza, a 203,876-square-foot shopping center located in Brunswick. Addison Montague, Rad von Werssowetz and Morgan Hall of Berkeley facilitated the transaction between the undisclosed buyer and seller. Tenants at the property include Winn-Dixie and Dollar Tree. 

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5899_Northwest_Highway-Crystal_Lake_IL
IllinoisInvestment salesNews

Greenstone Partners Arranges $3 Million Sale of Retail Center in Suburban Chicago

by Katie Sloan

Crystal Lake, Ill. — Greenstone Partners has arranged the $3 million sale of a nearly 12,000-square-foot retail property in the Chicago suburb of Crystal Lake. The building, located at 5899 Northwest Highway, is 77 percent occupied with two vacant units. Jason St. John and AJ Patel of Greenstone represented the seller, a local, private partnership. The duo also procured the buyer, a private partnership completing a 1031 exchange.

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The-Street-Boston-1
DevelopmentMassachusettsNews

WS Development Unveils Plans for Redevelopment of Boston Retail Property

by Katie Sloan

Boston — WS Development has unveiled plans for the redevelopment of The Street, a retail property in Boston’s Chestnut Hill neighborhood. The centerpiece of the project will involve the repositioning of the three-story, 90,000-square-foot building at 27 Boylston St. to house new retailers and restaurants, as well as office space and outdoor communal areas. The project team will also upgrade the existing landscaping, architecture and public spaces. WS Development is designing the project in partnership with global architecture firm Sasaki. Completion is slated for 2023. 

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Heritage-Park
CaliforniaGrocery-anchoredInvestment salesNews

First National Realty Acquires Heritage Park Shopping Center in San Francisco Bay Area

by Katie Sloan

Suisun City, Calif. — First National Realty Partners has acquired Heritage Park, a 167,000-square-foot shopping center located roughly 50 miles northeast of San Francisco in Suisun City. A 60,000-square-foot Raley’s anchor the center, which was home to tenants including Ace Hardware, AutoZone, Dollar Tree, Dunkin Donuts, Mariner Finance and H&R Block at the time of sale. The seller and terms of the transaction were undisclosed. 

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ConnecticutFinanceNews

Cronheim Mortgage Secures $23.5 Million Permanent Loan for Connecticut Shopping Center

by Katie Sloan

North Haven, Conn. — Cronheim Mortgage has secured a $23.5 million permanent loan for North Haven Pavilion, a 148,277-square-foot shopping center located north of New Haven. Tenants at the property include Michaels, Wendy’s and Hartford Healthcare. Dev Morris, David Poncia, Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the financing on behalf of the borrower, a subsidiary of National Realty & Development Corp., which originally developed the center in 2004. The loan carried a 10-year term and a 30-year amortization schedule.

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Parkwood-Shops
GeorgiaInvestment salesNews

Franklin Street Arranges $8.4 Million Sale of CVS-Anchored Retail Center in Atlanta

by Katie Sloan

Atlanta — Franklin Street has arranged the $8.4 million sale of Parkwood Shops, a 20,397-square-foot retail strip center located in Atlanta. The property is situated on 2.1 acres at 2014 SE Powers Ferry Road in Atlanta’s Cumberland neighborhood. CVS/pharmacy anchors the center, which was fully leased at the time of sale to tenants including Boston Market, Jersey Mike’s, Planet Smoothie, Piu Bello Pizzeria, Hikaru Ramen and Personal Touch Cleaners. Bryan Belk and John Tennant of Franklin Street represented the seller, Ronus Properties, in the disposition of the property to SITE …

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At-Home
ConnecticutIllinoisLeasingNew MexicoNewsTexas

At Home Opens Three Stores in New Mexico, Illinois and Connecticut

by Katie Sloan

Plano, Texas — At Home opened three new home decor stores during the month of July. The company’s stores span an average of 100,000 square feet and offer up to 45,000 decor items, including furniture, rugs, wall art and housewares. New openings include a store located at 3400 Calle Cuervo NW in Albuquerque, New Mexico; a store located at 1212 75th St. in the Chicago suburb of Downer’s Grove, Illinois; and a location at 376 Universal Drive in North Haven, Connecticut. The Plano, Texas-based company now boasts a portfolio of …

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Upland-Square
Investment salesNewsPennsylvania

IPA Brokers $85.7 Million Sale of Grocery-Anchored Power Center in Metro Philadelphia

by Katie Sloan

Pottstown, Pa. — Institutional Property Advisors (IPA), a division of Marcus & Milllichap, has brokered the $85.7 million sale of Upland Square, a 400,716-square-foot power center located roughly 40 miles northwest of Philadelphia in Pottstown. A 76,500-square-foot Giant Food anchors the center, which was leased to tenants such as Burlington, LA Fitness, Five Below, Ross Dress for Less, Bed Bath & Beyond, Staples, TJ Maxx, Petco and Ulta Beauty at the time of sale. An AMC Theatre and the freestanding retail pads located on the site were not included in the …

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Investment salesNewsPennsylvania

Syndicated Equities Sells Pittsburgh Shopping Center for $32.5 Million

by Katie Sloan

Pittsburgh — Syndicated Equities has sold Plaza at the Pointe, a 149,973-square-foot shopping center in Pittsburgh. At the time of sale, the property was leased to tenants such as Bed Bath & Beyond, La-Z-Boy, Party City, Old Navy, Dress Barn and Bob’s Discount Furniture. The buyer was not disclosed. Syndicated Equities originally acquired the property in partnership with Chicago-based owner-operator M & J  Wilkow in 2016 for $24.5 million.

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