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Verrado-Marketplace-Buckeye-AZ
ArizonaDevelopmentNews

Vestar, DMB Development Unveil Plans for 500,000-Square-Foot Development in Suburban Phoenix

by Katie Sloan

Buckeye, Ariz. — A partnership between Vestar and DMB Development has unveiled plans for Verrado Marketplace, a 500,000-square-foot development located in the Phoenix suburb of Buckeye. The project will include a grocery store, apparel and home décor stores, a department store, movie theater, specialty shops, restaurants and service providers alongside public outdoor spaces. The development site is located near Verrado, an 8,800-acre master-planned community. Construction is scheduled to begin in mid-2023 following necessary approvals from the City of Buckeye.

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Shops-at-Willow-Bend-Plano
DevelopmentInvestment salesNewsTexas

Partnership Acquires 1.4-Million-Square-Foot Shops at Willow Bend in Plano, Plans Redevelopment

by Katie Sloan

Plano, Texas — A partnership between Centennial, Cawley Partners and Waterfall Asset Management has acquired the 1.4 million-square-foot Shops at Willow Bend in Plano. The new ownership plans to redevelop the property, though specific details were not disclosed. Taubman originally developed the shopping center in 2001. Tenants include Neiman Marcus, Dillard’s, Macy’s, Crate & Barrel, Vineyard Vines, H&M, Anthropologie, Equinox and Crayola Experience. California Pizza Kitchen, Wetzel’s Pretzels and Great American Cookies are among the food and beverage tenants. According to Chain Store Age, the seller was Spinoso Real Estate Group.

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Country-Fair-Shopping-Center-Chino-CA
CaliforniaInvestment salesNews

Newmark Negotiates $42.2 Million Sale of Country Fair Shopping Center in Chino, California

by Katie Sloan

Chino, Calif. — Newmark has arranged the $42.2 million sale of Country Fair Shopping Center, a 168,264-square-foot neighborhood shopping center in Chino. Red Mountain Group acquired the property from a publicly traded REIT based in New York. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal. At the time of sale, the center was 92 percent occupied by tenants including PetSmart, Rite Aid, Dollar Tree, Harbor Freight Tools, America’s Tires, Kaiser Permanente and Sherwin-Williams.

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Whole-Foods-Westbury
Investment salesNew YorkNews

JLL Arranges $65.3 Million Sale of Whole Foods Market-Anchored Center on Long Island

by Katie Sloan

Garden City, N.Y. — JLL has arranged the $65.3 million sale of Whole Foods at Westbury, a 55,109-square-foot shopping center located in the Long Island community of Garden City. Whole Foods Market anchors the property, which is also home to a 4,818-square-foot, freestanding pad site occupied by HSBC Bank and Bond Vet. James Galbally, Chris Angelone, Jose Cruz, Christopher Munley, Andrew Scandalios, Colin Behr and J.B. Bruno of JLL represented the seller, Midwood Investment & Development, in the disposition of the property to an undisclosed private family investment firm. 

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Investment salesMassachusettsNews

Newmark Arranges Sale of Two Retail Centers on Cape Cod for Combined $120 Million

by Katie Sloan

Hyannis and Falmouth, Mass. — Newmark has arranged the sale of two retail centers on Cape Cod for a combined total of $120 million. Dispositions include Southwind Plaza, a 258,110-square-foot, Home Depot-anchored shopping center in Hyannis; and Falmouth Landing, a 279,989-square-foot retail center anchored by Walmart in Falmouth. Southwind Plaza was fully leased at the time of sale to tenants including Whole Foods Market, Kohl’s, Bed Bath & Beyond and Ethan Allen. Additional tenants at Falmouth Landing include Shaw’s Supermarket, TJ Maxx, Michaels and HomeGoods. Robert Griffin, Geoffrey Millerd, Jonathan Martin …

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Ansonia-Landing
ConnecticutInvestment salesNews

Institutional Property Advisors Brokers $14 Million Sale of Stop & Shop-Anchored Center in Metro New Haven

by Katie Sloan

Ansonia, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $14 million sale of Ansonia Landing, a retail center located roughly 10 miles west of New Haven in Ansonia. Jim Koury of IPA represented the seller, Ansonia (E&A) LLC, and procured the buyer, RGMZ Acquisitions LLC, in the transaction. Built in 1979, the center was 91.5 percent leased at the time of sale to tenants including Stop & Shop and Ansonia Discount Wine & Liquor. 

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Wekiva-Riverwalk
DevelopmentFinanceFloridaNews

Trez Capital Provides $11.4 Million Refinancing for Wekiva Riverwalk in Suburban Orlando

by Katie Sloan

Apopka, Fla. — Trez Capital has provided an $11.4 million refinancing for Wekiva Riverwalk, a 235,390-square-foot shopping center located at 2271 E. Semoran Blvd. in the Orlando suburb of Apopka. The center was fully leased at the time of financing to tenants including Petco, Ross Dress for Less, Marshalls, Five Below and Bed Bath & Beyond. A portion of the financing will be used to build out space for two new tenants — Sprouts Farmers Market and Ulta Beauty — which are set to open in June, and to fund …

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Shoppes-Drexel
Investment salesNewsWisconsin

Stan Johnson Co. Facilitates $5.9 Million Sale of Shoppes at Drexel in Oak Creek, Wisconsin

by Katie Sloan

Oak Creek, Wis. — Stan Johnson Co. has facilitated the $5.9 million sale of The Shoppes at Drexel, a 10,351-square-foot retail strip center located at 160 West Town Square Way in Oak Creek. The property was fully leased at the time of sale to five tenants including Mod Pizza, Men’s Hair House, Five Guys, Crumbl Cookies and Potbelly. Ronnie Givargis of Stan Johnson represented the seller, a New York-based individual investor, in the disposition of the property to an investment group based in Cedar Rapids, Iowa. Both parties were involved in …

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Starbucks-North-Kansas-City
Investment salesMissouriNews

Hanley Investment Group Brokers $2.3 Million Sale of Starbucks-Occupied Property in North Kansas City

by Katie Sloan

North Kansas City, Mo. — Hanley Investment Group Real Estate Advisors has brokered the $2.3 million sale of a single-tenant property occupied by Starbucks Coffee in North Kansas City. The newly constructed building, which features a drive-thru, is located at 1930 Diamond Parkway near I-35. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller and developer, Woodsonia Real Estate Inc. A Warrensburg, Missouri-based private investor was the buyer.

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Conyers-Crossroads
GeorgiaInvestment salesNews

JLL Brokers $82 Million Sale of Conyers Crossroads Shopping Center in Metro Atlanta

by Katie Sloan

Conyers, Ga. — JLL has brokered the $82 million sale of Conyers Crossroads, a 465,993-square-foot shopping center in the east Atlanta suburb of Conyers. Serota Properties acquired the center from a joint venture between Hendon Properties and Harbert Management Corp. Built in phases between 2000 and 2005, Conyers Crossroads was fully leased at the time of sale to tenants such as Kohl’s, Belk, AMC Theatres, T.J. Maxx, Best Buy, HomeGoods, Michaels, Old Navy, Five Below and Shoe Carnival. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the seller …

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