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Grocery-anchoredInvestment salesNew YorkNews

Cedar Realty Trust Sells Grocery-Anchored Shopping Center Portfolio for $879 Million

by Katie Sloan

Port Washington, N.Y. — Cedar Realty Trust has sold a portfolio of 33 grocery-anchored shopping centers for $879 million, inclusive of existing debt. The names and addresses of the centers were not disclosed, but the properties are primarily located in high-density markets throughout the Northeast and Mid-Atlantic regions. The buyer was a joint venture between two New York City-based firms, DRA Advisors and KPR Centers. The sale, which was first announced in March, comes as part of the New York-based REIT’s plan to divest of its assets prior to being …

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Grocery-anchoredInvestment salesNew JerseyNews

Stan Johnson Co. Arranges $56 Million Sale of 138,000-Square-Foot Shopping Center in Franklin Park, New Jersey

by Katie Sloan

Franklin Park, N.J. — Stan Johnson Co. has arranged the $56 million sale of Franklin Towne Center, a 138,000-square-foot shopping center located in Franklin Park. Stop & Shop anchors the property, which was developed in 1990. Isaiah Harf of Stan Johnson represented the seller, a New York-based developer, in the disposition of the center to an investment firm based in New Jersey. 

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Grocery-anchoredInvestment salesNew YorkNews

JLL Brokers $26.5 Million Sale of Stop & Shop Anchored Retail Center in West Haverstraw, New York

by Katie Sloan

West Haverstraw, N.Y. — JLL Capital Markets has brokered the $26.5 million sale of Samsondale Plaza, a 156,185-square-foot retail center located in the Rockland County community of West Haverstraw. Stop & Shop anchors the property, which was 91 percent leased at the time of sale to tenants including the New York State Department of Motor Vehicles, Dollar Tree, Advance Auto, Sports Clips, Sally Beauty Supply and Mandee. Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn, Austin Pierce and Andrew Scandalios of JLL represented the seller, a joint venture …

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ArizonaInvestment salesNews

MDC Realty Advisors Sells Two Shopping Centers in Phoenix, Scottsdale for $25.7 Million

by Katie Sloan

Phoenix and Scottsdale, Ariz. — MDC Realty Advisors, a subsidiary of Epic Investment Services, has sold two shopping centers totaling 38,274 square feet in Phoenix and Scottsdale for $25.7 million. Dispositions include Corner on 7th, a 16,202-square-foot strip center located at 527-539 W. McDowell Road in Phoenix; and The Marketplace at Lincoln and Scottsdale, a 22,072-square-foot neighborhood center located at 6560-6590 N. Scottsdale Road in Scottsdale. Corner on 7th was 93.5 percent leased at the time of sale to Ahi Poke, Wingstop, Vovemeena, Mad Greens, Chipotle Mexican Grill, Zoyo, Cryotherapy …

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CaliforniaInvestment salesNews

Madison Marquette Sells 42-Acre Bayfair Center Regional Mall in San Francisco Bay Area

by Katie Sloan

San Leandro, Calif. — An affiliate of Madison Marquette has completed the sale of Bayfair Center, a 42-acre regional mall located adjacent to a BART subway station in San Leandro. B3 and GAW Capital Partners acquired the property for an undisclosed price. Located at 15555 E. 14th St., Bayfair Center was 91 percent leased at the time of sale to tenants including Target, Century Theaters, Macy’s, Kohl’s, Bed Bath & Beyond, Ulta Beauty, Old Navy, 24 Hour Fitness and PetSmart. The property includes one primary mall building and five outparcel buildings …

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Stop-Shop-Abington-Massachusetts
Investment salesMassachusettsNews

Atlantic Capital Brokers $84.2 Million Sale of Three Metro Boston Shopping Centers

by Katie Sloan

Abington, Kingston and Orleans, Mass. — Atlantic Capital Partners, a division of Atlantic Retail, has arranged the $84.2 million sale of three shopping centers located on the southern outskirts of Boston. The properties in Abington, Kingston and Orleans are all anchored by grocers and were collectively 97 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction. 

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DevelopmentGeorgiaNews

NAP Gains County Approval for Redevelopment of Avenue East Cobb Shopping Center in Metro Atlanta

by Katie Sloan

Marietta, Ga. — North American Properties (NAP) has gained unanimous approval from the Cobb County Board of Commissioners for its redevelopment plan of the Avenue East Cobb, an open-air shopping center located in the northeast Atlanta suburb of Marietta. Plans call for a portion of the central building near Kale Me Crazy to be demolished to make way for an 8,000-square-foot area called The Plaza that will be surrounded by restaurants with patios. The Plaza will feature a covered, raised stage for performances; an LED screen for broadcasting live events; …

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Investment salesNewsTexas

JLL Negotiates Sale of 559,457-Square-Foot Glade Parks Town Center in Suburban Dallas

by Katie Sloan

Euless, Texas — JLL has negotiated the sale of Glade Parks Town Center, a 559,457-square-foot retail power center located in the eastern Dallas suburb of Euless. Built in phases between 2014 and 2018, the property houses tenants such as Dick’s Sporting Goods, Total Wine & More, Cinepolis, Ulta Beauty, Belk, Michael’s, HomeGoods, EoS Fitness, First Watch, Hopdoddy, Daiso, Old Navy, Burlington, DSW and Massage Envy. Barry Brown, Chris Gerard, Ryan Shore, Greyson Fewin and Matthew Barge of JLL represented the seller, a joint venture led by Iron Point Partners, in …

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Investment salesNewsOregon

Hanley Investment Group Completes Break-Up Strategy at Bend River Village in Oregon

by Katie Sloan

Bend, Ore. — Hanley Investment Group Real Estate Advisors has completed the break-up of Bend River Village, a Petco-anchored shopping center located in Bend. Two parcels of buildings at the center were sold for a combined $12.2 million. In the first transaction, a two-tenant retail pad occupied by Aspen Dental and America’s Best Contacts & Eyeglasses was acquired by a private 1031 exchange buyer from Newport Beach, California. The 7,501-square-foot building was sold by a developer based in Sun Valley, Idaho, for $5.4 million. Beau Velten, Jeff Lefko and Bill …

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FloridaInvestment salesNews

Katz & Associates Arranges $10.6 Million Sale of Former HHGregg Store in Boca Raton, Florida

by Katie Sloan

Boca Raton, Fla. — Katz & Associates has arranged the $10.6 million sale of a former hhgregg store located at 20841 S. State Road 7 in Boca Raton. CIRE Equity purchased the 41,250-square-foot store from an entity doing business as Pan York Glades LLC. Jon Cashion and Daniel Solomon of Katz & Associates represented the seller in the transaction. EoS Fitness, a retail fitness concept based in Phoenix, will backfill the store, which is situated adjacent to a Burlington and PetSmart.

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