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76-Place-Philadelphia
DevelopmentNewsPennsylvania

Philadelphia 76ers Unveil Plans for $1.3 Billion Stadium at Macerich’s Fashion District Philadelphia in Center City

by Katie Sloan

Philadelphia — Josh Harris and David Blitzer, managing directors of the National Basketball Association’s Philadelphia 76ers, have formed a development corporation for construction of the team’s new arena, known as 76 Place, in Center City Philadelphia. Development costs are estimated at $1.3 billion, with plans to complete construction before the 2031-2032 NBA season. The property will be part of Fashion District Philadelphia, a 900,000-square-foot mall redevelopment that opened in September 2019. The team will partner closely with Macerich, which owns Fashion District, on the project. The transit-oriented site is located at Market …

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Inverness-Corners
AlabamaGrocery-anchoredInvestment salesNews

First National Realty Acquires 242,000-Square-Foot Retail Center in Birmingham, Alabama

by Katie Sloan

Birmingham, Ala. — First National Realty Partners has acquired Inverness Corners, a 242,000-square-foot retail center located in Birmingham, for an undisclosed price. A 54,000-square-foot Winn Dixie and a 92,600-square-foot Kohls anchor the property. Additional tenants include Orangetheory Fitness, Mellow Mushroom, Tropical Café, Wing Stop, H&R Block and Enterprise. Zach Taylor of Marcus & Millichap’s Institutional Property Advisors (IPA) division represented the undisclosed seller in the transaction.

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Pick-N-Save-Milwaukee
Investment salesNewsWisconsin

Boulder Group Brokers $20 Million Sale of Grocery Property in Milwaukee

by Katie Sloan

Milwaukee — The Boulder Group has brokered the sale of a 120,000-square-foot property occupied by grocer Pick ’n Save in Milwaukee. Jimmy Goodman and John Feeney of Boulder represented the seller, a Milwaukee-based real estate investor, and the buyer, a national private real estate company. There are more than eight years remaining on the Pick ’n Save lease. 

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Landings-Bolingbrook
IllinoisInvestment salesNews

Mid-America Arranges Sale of The Landings at Bolingbrook Shopping Center in Suburban Chicago

by Katie Sloan

Bolingbrook, Ill. — Mid-America Real Estate Corp. has arranged the sale of The Landings at Bolingbrook, a 112,622-square-foot retail center located in the Chicago suburb of Bolingbrook. PetSmart, OfficeMax, Planet Fitness and Modern Furniture anchor the 91 percent-occupied center, which is also home to an out-lot building leased to Duly Medical, Noodles & Company and For Eyes Optical. Ben Wineman of Mid-America represented the seller, an affiliate of Atlanta-based RCG Ventures, in the transaction. 

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Shops-Tara
GeorgiaInvestment salesNews

Stan Johnson Brokers $9.3 Million Sale of a Multi-Tenant Retail Portfolio in Metro Atlanta

by Katie Sloan

Jonesboro, Ga. — Stan Johnson Co. has brokered the $9.3 million sale of a multi-tenant retail portfolio located roughly 17 miles south of Atlanta in Jonesboro. The portfolio includes the 69,868-square-foot Shops of Tara and a 4,164-square-foot outparcel occupied by Starbucks Coffee and AT&T. The properties are located at 6620 and 6564 Tara Blvd. Jeff Enck of Stan Johnson represented the seller, a private fund out of Australia, in the disposition of the properties to a Georgia-based investment group. 

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Santee-Town-Center-Santee-CA-1
CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNews

Faris Lee Negotiates $27.1 Million Sale of Santee Town Center Retail Property in Suburban San Diego

by Katie Sloan

Santee, Calif. — Faris Lee Investments has arranged the $27.1 million sale of Santee Town Center, a shopping center in the San Diego suburb of Santee. Brixton Capital acquired the property from a Los Angeles-based private family office. Sean Cox and Alex Moore, Don MacLellan and Gene Ventura of Faris Lee represented the buyer and seller in the deal. At the time of sale, the 106,903-square-foot retail center was fully leased to tenants including Ross Dress for Less, Dollar Tree and Michaels. 

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Arcadia-Crossing_Publix
FloridaGrocery-anchoredInvestment salesNews

SRS Arranges $13.9 Million Sale of Publix-Anchored Shopping Center in Arcadia, Florida

by Katie Sloan

Arcadia, Fla. — SRS Real Estate Partners’ Investment Properties Group has arranged the $13.9 million sale of Arcadia Crossing, a Publix-anchored shopping center about 40 miles east of Sarasota in Arcadia. Kevin Yaryan of SRS’ Orlando office worked with Kyle Stonis and Pierce Mayson of the firm’s Atlanta office to represent the buyer in the transaction. The seller was self-represented. Both parties requested anonymity. The 67,608-square-foot property is situated on 8.2 acres at the intersection of SE Highway 70 and Hog Bay Avenue. In addition to Publix, the center’s tenant roster …

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40014-10th-St-West-Palmdale-CA
CaliforniaInvestment salesNews

Stan Johnson Brokers $5.5 Million Sale of Planet Fitness-Occupied Property North of Los Angeles

by Katie Sloan

Palmdale, Calif. — Stan Johnson Co. has arranged the $5.5 million sale of a retail property located at 40014 10th St. West in Palmdale, roughly 58 miles north of Los Angeles. A New York City-based private investor sold the asset to the tenant, Planet Fitness. Prior to acquiring the real estate, Planet Fitness occupied the 18,000-square-foot property on a triple-net lease that features rental increases and option periods. Ronnie Givargis of Stan Johnson Co. represented the seller in the deal. 

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Gucci-Easton
LeasingNewsOhio

Gucci Opens First Ohio Store at Easton Town Center in Columbus

by Katie Sloan

Columbus, Ohio — Gucci has opened its first Ohio store at Easton Town Center in Columbus. The boutique spans more than 5,000 square feet and showcases a wide collection of men’s and women’s small leather goods, handbags, luggage, jewelry, watches and eyewear. The Easton Town Center location features LED lighting, which is part of Gucci’s commitment to implement eco-friendly initiatives and energy-efficient technologies in its stores worldwide. Easton Town Center is a shopping, dining and entertainment destination with more than 240 shops, restaurants and entertainment spaces. L Brands, The Georgetown …

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Chandler-Pavilions
ArizonaInvestment salesNews

Evergreen Devco Sells Chandler Pavilions in Metro Phoenix for $29 Million

by Katie Sloan

Chandler, Ariz. — Evergreen Devco has sold Chandler Pavilions, a 163,286-square-foot retail center located in the Phoenix suburb of Chandler, to Schnitzer Properties for $29 million. The shopping center was fully occupied at the time of sale by tenants including Sportsman’s Warehouse, Golf Galaxy, Chipotle Mexican Grill, Cost Plus World Market, REI, Mountain Mikes and Jimmy John’s. Patrick Dempsey, Gleb Lvovich and Patrick Anthon of JLL negotiated the transaction on behalf of the seller. The property is situated on 18 acres at 800-890 N. 54th St.

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