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Doral Park Centre
FloridaInvestment salesNews

Marcus & Millichap Arranges $11 Million Sale of Doral Park Centre in Metro Miami

by Julia Sanders

Doral, Fla. — Marcus & Millichap has arranged the $11 million sale of Doral Park Centre, a 13,925-square-foot retail strip center in Doral. Edward Romo and Scott Sandelin of Marcus & Millichap represented the seller, an affiliate of IRAS Group, and Kristina Filippone of First City Realty Partners Inc. procured the undisclosed buyer in the transaction. Built in 2017, Doral Park Centre is a seven-suite property that was fully leased at the time of sale to tenants including 5.11 Tactical Miami, PANNA New Latino Food, Ohana Sushi, 107 Beauty Bar …

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Assembly Park
DevelopmentNewsTexas

Triten Real Estate Begins Redevelopment of 300,000-Square-Foot Market Square Mall in Northern Texas

by Julia Sanders

Plano, Texas — Triten Real Estate Partners has begun the redevelopment of Market Square Mall, a 300,000-square-foot shopping and dining destination located north of Dallas in Plano. The firm originally acquired the 26-acre property, which was built in the mid-1980s, in January 2021. Plans for the redevelopment, which will be branded Assembly Park, currently call for 180,000 square feet of office space, 16,500 square feet of retail and restaurant space and 305 residential units, all of which will surround a central park. Agent Architecture and Michael Hsu Office of Architecture …

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Investment salesNew YorkNews

RIPCO Real Estate Brokers $5.6 Million Sale of Long Island Retail Property Leased to CVS/pharmacy

by Julia Sanders

West Hempstead, N.Y. — RIPCO Real Estate has brokered the $5.6 million sale of a 10,125-square-foot retail building located in the Long Island community of West Hempstead. The property is leased to CVS/pharmacy through 2032. A partnership between two locally based limited liability companies sold the property to private investor Kenny Mauer. Stephen Preuss, Kevin Louie, Gene Spiegelman, Kevin Schmitz and Andreas Efthymiou of RIPCO brokered the deal.

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Starbucks
ColoradoInvestment salesNews

Blue West Capital Arranges $3.4 Million Sale of Starbucks Coffee-Occupied Property in Metro Denver

by Julia Sanders

Commerce City, Colo. — Blue West Capital has arranged the $3.4 million sale of a single-tenant retail property occupied by Starbucks Coffee in Commerce City, about 6 miles from Denver. Brandon Gayeski and Robert Edwards of Blue West Capital represented the seller, a Colorado-based partnership. The buyer was a 1031 exchange investor based in Colorado. The 2,340-square-foot property features a drive-thru and was constructed in 2020. Located at 4860 East 60th Ave., Starbucks Coffee occupies the property on a long-term lease.

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Ballantyne Village
LeasingNewsNorth Carolina

Stonemar Properties Signs Three New Tenants to Open at Ballantyne Village in Charlotte

by Julia Sanders

Charlotte, N.C. — Stonemar Properties is adding several new restaurants and service providers at Ballantyne Village, a mixed-use development in Charlotte that features offices, shops, restaurants and a 14-story AC Hotel. New tenants include Casa Del Tequila, a 2,623-square-foot Mexican restaurant and tequila bar; Vel Tree, a 2,503-square-foot vegan restaurant; and Deka Lash, a 1,082-square-foot eyelash extension and beauty shop. Vel Tree is open, and both Casa Del Tequila and Deka Lash are expected to open by early summer. Foundry Commercial oversees property management and office and retail leasing at …

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Exeter Commons
Investment salesNewsPennsylvania

JLL Arranges Sale of 361,095-Square-Foot Shopping Center in Southern Pennsylvania

by Julia Sanders

Reading, Pa. — JLL Capital Markets has arranged the sale of Exeter Commons, a 361,095-square-foot shopping center anchored by Giant Food and Lowe’s Home Improvement in Reading. Christopher Munley, James Galbally and Colin Behr of JLL represented the undisclosed seller in the disposition of the property to Wharton Realty Group Inc. Completed in 2009, Exeter Commons was 99.5 percent leased at the time of sale to tenants including Ross Dress for Less, PA Wine & Spirits, Five Below, Petco, Staples, Famous Footwear, America’s Best Contacts, Moe’s Southwest Grill, Red Robin, …

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Bala Cynwyd
DevelopmentNewsPennsylvania

Federal Realty to Redevelop 174,000-Square-Foot Bala Cynwyd Shopping Center in Metro Philadelphia

by Julia Sanders

Bala Cynwyd, Pa. — Federal Realty Investment Trust will redevelop Bala Cynwyd Shopping Center, a 174,000-square-foot retail and dining destination in Bala Cynwyd, about 6 miles from Philadelphia. The $8 million project will include upgrading façade aesthetics, creating common- and tenant-designated outdoor dining and gathering areas and improving pedestrian and vehicular circulation. Additionally, up to 80 outdoor seats and eight curbside pickup spaces will be added. Completion is scheduled for summer 2023. Current tenants at the 23-acre center include ACME Markets, Michaels, Five Guys and Honeygrow. All tenants will remain …

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CaliforniaInvestment salesNews

Marcus & Millichap Brokers $1.7 Million Sale of Mobil-Occupied Gas Station Property in Blythe, California

by Julia Sanders

Blythe, Calif. — Marcus & Millichap has brokered the sale of a retail property located at 1900 E. Hobsonway in Blythe near the California-Arizona border. A private investor sold the property to an individual/personal trust for $1.7 million. A Mobil gas station and convenience store occupies the 2,816-square-foot retail property. Bruce Haulley of Marcus & Millichap’s Palm Springs office represented the buyer and seller in the deal.

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Lawrence Park
DevelopmentNewsPennsylvania

Federal Realty Underway on Redevelopment of 374,000-Square-Foot Shopping Center in Metro Philadelphia

by Julia Sanders

Broomall, Pa. — Federal Realty Investment Trust is underway on the second phase of the redevelopment of Lawrence Park Shopping Center, a 374,000-square-foot retail and dining destination located in the northwestern Philadelphia suburb of Broomall. The project carries a total price tag of $30 million. ACME Markets currently anchors the 29-acre center, and other tenants include HomeGoods, T.J. Maxx and Mrs. Marty’s Deli. The redevelopment began last year with the delivery of a healthcare facility for Main Line Health. Phase II includes the addition of 32,000 square feet of retail …

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Investment salesMinnesotaNews

Arizona Partners Acquires 279,343-Square-Foot Shopping Center in Suburban Minneapolis

by Julia Sanders

Maplewood, Minn. — Arizona Partners has acquired Birch Run Station in Maplewood, about 14 miles from Minneapolis. The 279,343-square-foot shopping center is home to tenants such as Burlington, Jo-Ann and Dollar Tree. CBRE represented the seller, Voya Investment Management, in the transaction.

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