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Investment salesNewsNorth Carolina

JLL Arranges $38.4 Million Sale of 365,000-Square-Foot Retail Center in Metro Raleigh

by Katie Sloan

Cary, N.C. — JLL Capital Markets has arranged the sale of South Hills Mall & Plaza, a 365,000-square-foot retail center in the Raleigh-area community of Cary. Sarah Godwin, Thomas Kolarczyk and Matt Winters of JLL represented the seller, an entity known as South Hills Shopping Center Inc. An affiliate of Northpond Partners acquired the property for $38.4 million. South Hills Mall & Plaza was 99 percent leased at the time of sale to tenants such as Northern Tool and Equipment, Roses, Tuesday Morning, Grand Asia Market, Anchor Auto Outlet, Mitchells Academy, Déjà Vu Furniture, NC …

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Arbor-Square
GeorgiaInvestment salesNews

Joint Venture Sells Arbor Square Shopping Center in Metro Atlanta for $18.4 Million

by Katie Sloan

Douglasville, Ga. — A joint venture between Connolly and Coro Realty has sold Arbor Square, a 127,195-square-foot shopping center located roughly 23 miles outside Atlanta in Douglasville. ALTO Real Estate Funds purchased the property for $18.4 million. Mark Joines and Drew Fleming of Newmark arranged the sale. Developed by Connolly in 1977, Arbor Square was fully renovated in 2018 and was 97 percent occupied at the time of sale by tenants such as Burlington, HomeGoods, Skechers, Starbucks Coffee, Five Guys and Del Taco.

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963-Houston-Northcutt
Investment salesNewsSouth Carolina

Cushman & Wakefield Brokers $14.3 Million Sale of Movie Theater Property in Metro Charleston

by Katie Sloan

Mount Pleasant, S.C. — Cushman & Wakefield has brokered the $14.3 million sale of a 33,000-square-foot property formerly occupied by Regal Cinemas in Mount Pleasant, about 9.5 miles from Charleston. Nick Tanana and Brady Dashiell of Cushman & Wakefield represented the seller, Regal Cinemas, in the disposition of the property to Collett Capital. The site was marketed as a redevelopment opportunity.

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DevelopmentInvestment salesNewsVirginia

Green Clean Express Auto Wash Purchases Land in Metro Richmond for $1.5 Million

by Katie Sloan

Henrico County, Va. — Green Clean Express Auto Wash has purchased approximately one acre of land at 9486 West Broad St. in Henrico County, about 8 miles from Richmond. Green Clean Express plans to develop its third location in the Richmond metropolitan area. Alex Wotring of Cushman & Wakefield | Thalhimer represented the buyer in the $1.5 million sale transaction. The seller was not disclosed. 

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LeasingNew JerseyNews

Rita’s Ice Signs 1,973-Square-Foot Retail Lease in Flanders, New Jersey

by Katie Sloan

Flanders, N.J. — Rita’s Ice has signed a 1,973-square-foot retail lease at ITC Crossing South Shopping Center in Flanders, about 50 miles west of New York City. The tenant will backfill a space previously occupied by Amy Murphy Salon, which is relocating to a 5,000-square-foot space within the 514,903-square-foot center. The opening is scheduled for the first quarter of 2022. Danielle Brunelli of R.J. Brunelli & Co. represented the landlord in the lease negotiations.

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Town Country
CaliforniaInvestment salesNews

Donahue Schriber Sells 216,320-Square-Foot Shopping Center in Sacramento

by Julia Sanders

Sacramento, Calif. — Donahue Schriber has sold Town & Country Village, a dual grocery-anchored shopping center in Sacramento, to Phillips Edison & Co. for an undisclosed price. Trader Joe’s and Sprouts Farmers Market co-anchor the 216,320-square-foot center. At the time of sale, the property was 91 percent leased to tenants including Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx and Five Below. Town & Country Village is situated on 19 acres at 2601-2651 and 2717-2805 Marconi Ave. Originally constructed in 1950, the asset was most recently renovated between …

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DevelopmentGeorgiaNews

Mynd Match to Develop $111 Million Mixed-Use Property in Metro Atlanta

by Julia Sanders

East Point, Ga. — Mynd Match Development Group LLC has announced plans to develop The Commons, a $111 million mixed-use project in downtown East Point, about 7 miles south of downtown Atlanta. Last month, the East Point City Council voted to enter a development agreement with Mynd Match for the project. The development will sit on a 9-acre site and feature commercial, retail and residential space, alongside green space and public art. The project team includes TVS as architect and urban planner and Choate Construction as general contractor. CoRErep will …

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AlabamaInvestment salesNews

Crayton Commercial Acquires 87,480-Square-Foot Shopping Center in Montgomery

by Julia Sanders

Montgomery, Ala. — Crayton Commercial LLC has acquired Sturbridge Village Shopping Center, an 87,480-square-foot retail center in Montgomery. Built in 1994 on 10 acres of land, the center is anchored by a 45,000-square-foot Winn-Dixie grocery store and pharmacy. The center is also home to tenants including Bedzzz Express, Chicken Salad Chick, Marco’s Pizza and GiGi’s Cupcakes. LeRoy McEntire of ARC Realty of Montgomery brokered the transaction. Michael Holshouser of Pinnacle Financial Partners provided an undisclosed amount of funding for the sale.

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DevelopmentNewsNorth Carolina

Paragon Theaters to Open Remodeled Theater and Dine-In Cinema in Metro Raleigh

by Julia Sanders

Cary, N.C. — Paragon Theaters is set to reopen the company’s theater and dine-in cinema at Parkside Town Commons following renovations. The property is located at 1140 Parkside Main St. in Cary, about 12 miles from Raleigh. Renovations to the theater include the addition of zero-gravity, electronically-operated recliners with footrests; box VIP areas in each movie auditorium; full-service mobile ordering for in-theater dining; a kitchen and bar with food and cocktails; 16 bowling lanes; and an arcade. The remodeled property will also include an auditorium with a 66-foot-wide screen tilted …

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LeasingNew YorkNews

Ghost Kitchen Operator Opens 6,400-Square-Foot Space in Midtown Manhattan

by Julia Sanders

New York City — Ghost kitchen operator Kitchen United has opened a 6,400-square-foot space at 307 W. 38th St. in Midtown Manhattan where it will offer takeout and delivery of brands such as Wingstop, Jersey Mike’s Subs and Chili’s. The location is the third in New York City for Kitchen United, which also recently acquired software and ghost kitchen developer Zuul. The acquisition saw Zuul’s existing locations in the Soho and Hudson Yards neighborhoods rebranded as a Kitchen United MIX centers last month.

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