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Midway-Crossing-Islip-New-York
DevelopmentNew YorkNews

Public-Private Partnership to Develop $2.8 Billion Mixed-Use Project on Long Island

by Katie Sloan

Islip, N.Y. — A public-private partnership between The Town of Islip, Suffolk County and JLL has unveiled plans for Midway Crossing, a $2.8 billion mixed-use project that will be located on Long Island. The Long Island Regional Planning Council approved the project, which will be the largest commercial or residential development on Long Island in the last 50 years, on the evening of Thursday, May 12. Midway Crossing will span approximately 2.7 million square feet across 179 acres. Plans currently call for a variety of uses, including life sciences, healthcare …

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Retail-Center-Marysville-WA
FinanceInvestment salesNewsWashington

Crescit Capital Secures $21.8 Million Acquisition Loan for 220,000-Square-Foot Retail Property in Metro Seattle

by Katie Sloan

Marysville, Wash. — Crescit Capital Strategies has secured a $21.8 million fixed-rate bridge loan for the acquisition of a shopping center located in Marysville, roughly 34 miles north of Seattle. A private seller sold the center to a private buyer for an undisclosed price. Crescit originated the four-year loan with a one-year extension option. The lender was not disclosed. The grocery-anchored property features 220,000 square feet of retail space.

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Zionsville-Station
IndianaInvestment salesNews

Hanley Investment Group Brokers $3.1 Million Sale of Retail Center in Suburban Indianapolis

by Katie Sloan

Zionsville, Ind. — Hanley Investment Group Real Estate Advisors has brokered the $3.1 million sale of a two-tenant retail center spanning 11,400 square feet in Zionsville, a northern suburb of Indianapolis. Named Zionsville Station, the property is located at 10615 Zionsville Road. Tenants include Hotel Tango Whiskey, a local whiskey brand, and Pampered Pooch Resort and Spa. Dylan Mallory of Hanley represented the seller, Jackson Investment Group. Forest Bender of Marcus & Millichap represented the buyer, a metro Indianapolis-based private investor.

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ConnecticutInvestment salesNet leaseNews

Marcus & Millichap Brokers $11.7 Million Sale of Two Connecticut Retail Properties Leased to Walgreens

by Katie Sloan

Monroe and Newington, Conn. — Marcus & Millichap has brokered the sale of two Connecticut retail properties that are net leased to Walgreens for a combined price of $11.7 million. Both properties, which are located in Monroe and Newington, total approximately 15,000 square feet. Nick Geaneotes, Steve Garthwaite and Derrick Dougherty of Marcus & Millichap represented the sellers, both of which were limited liability companies, in the transactions. The trio also procured the undisclosed buyers. Susan Bands of Marcus & Millichap assisted in closing both deals as the broker of …

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LeasingNew JerseyNews

Azarian Realty Signs Two New Tenants at Northern New Jersey Shopping Center

by Katie Sloan

Livingston, N.J. — Azarian Realty Co. has signed two new tenants to leases at Livingston Town Center, a 65,000-square-foot shopping center in the Northern New Jersey city of Livingston. Spa concept Bleu Mirage Aesthetics has leased 1,886 square feet, and food and beverage user Mango Mango Dessert has leased 1,323 square feet. Kevin Pelio of Azarian Realty represented both parties in the first set of lease negotiations. Pelio and James Azarian represented both sides in the second deal.

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WestEnd-Alexandria
DevelopmentNewsVirginia

Joint Venture Demolishes Landmark Mall Outside Washington, D.C. for 4 Million-Square-Foot Mixed-Use Project

by Katie Sloan

Alexandria, Va. — Foulger-Pratt, The Howard Hughes Corp. and Seritage Growth Properties have broken ground on the 4 million-square-foot WestEnd Alexandria project with the demolition of Landmark Mall. The development is located roughly eight miles outside Washington, D.C., in Alexandria. Built in 1965 as an open-air shopping center, the 715,520-square-foot Landmark was converted to an enclosed shopping mall in 1990. The mall officially closed its doors in 2017 following Howard Hughes Corp.’s purchase of the former Macy’s store, but the Sears department store remained open until 2020.  Last year the Sears …

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Freedom-Town-Center_Fayetteville
Investment salesNewsNorth Carolina


IPA Brokers $83 Million Sale of Freedom Town Center in Fayetteville, North Carolina

by Katie Sloan

Fayetteville, N.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $83 million sale of Freedom Town Center, a 350,800-square-foot shopping center in Fayetteville.  Built in 2017, the property was almost fully leased at the time of sale to tenants such as Sprouts Farmers Market, Dick’s Sporting Goods, Hobby Lobby, Field & Stream, HomeGoods, Burkes Outlet, Petco, buybuy Baby, DSW, World Market, Five Below, Osh Kosh B’Gosh and Five Guys.  Triple Net Group sold Freedom Town Center to an unnamed investment group in a 1031 …

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SouthBay-Pavilion-Carson-CA
CaliforniaFinanceNews

Partnership Receives Recapitalization for 605,000-Square-Foot Shopping Center in Metro Los Angeles

by Katie Sloan

Carson, Calif. — Eastern Real Estate, Rockpoint and Atlas Capital Group have partnered to recapitalize SouthBay Pavilion in Carson. IKEA, Target and JCPenney anchor the 605,000-square-foot regional shopping center. The amount of the recapitalization was not disclosed. SouthBay Pavilion is 13 miles south of downtown Los Angeles and near the ports of Los Angeles and Long Beach, as well as Los Angeles International Airport. This is the second venture between Eastern, Atlas and Rockpoint in the Southern California area in the past year. In June 2021, the partners acquired Eagle …

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SummitWoods-Crossing
Investment salesMissouriNews

Rainier Cos. Acquires 545,204-Square-Foot Shopping Center in Metro Kansas City

by Katie Sloan

Lee’s Summit, Mo. — The Rainier Cos. has acquired SummitWoods Crossing in Lee’s Summit within metro Kansas City for an undisclosed price. The 545,204-square-foot, Class A shopping center opened in 2001. Some of the tenants include T.J. Maxx, Bed Bath & Beyond, Old Navy, Kohl’s, Petco and Ulta Beauty. The transaction marks Rainier’s 13th shopping center acquisition in the last five years and grows its retail portfolio to more than 5 million square feet nationally. Sunny Sajnani of Institutional Property Advisors, a division of Marcus & Millichap, arranged a five-year …

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Bay-Landing_Bonita-Springs
FloridaInvestment salesNews

TSCG Brokers $10.4 Million Sale of Grocery-Anchored Shopping Center in Southwest Florida

by Katie Sloan

Bonita Springs, Fla. — TSCG has brokered the sale of Bay Landing, a grocery-anchored shopping center totaling nearly 63,000 square feet in the southwest Florida city of Bonita Springs. InvenTrust Properties purchased the property for approximately $10.4 million. Anthony Blanco led the TSCG team that included Mallory Silva and Nick Ureta in representing the seller, an affiliate of Barron Collier Cos. Built in 1998 along U.S. Highway 41, Bay Landing was fully leased at the time of sale to The Fresh Market and HomeGoods. The site is entitled for an additional …

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