Apollo Beach, Fla. — CBRE has brokered the sale of Mirabay Village, a 94,697-square-foot neighborhood shopping center anchored by Winn-Dixie in Apollo Beach. Dennis Carson, Casey Rosen, Mark Shellabarger and Ari Ravi of CBRE represented the undisclosed seller in the transaction. The buyer is an affiliate of Daytona Beach, Florida-based The Root Co. Located at 252 Harbor Village Lane, the property was 98 percent leased at the time of sale.
Kissimmee, Fla. — SRS’ Investment Properties Group has brokered the sale of Kissimmee Korners, an 83,340-square-foot shopping center located roughly 25 miles outside Orlando in Kissimmee. The seller, an entity doing business as Kissimmee Korners LLP, sold the property to an entity doing business as WWX2 LLC for $14.3 million. Kevin Yaryan, Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. Houwen Zhou of Lokation Real Estate represented the buyer. Kissimmee Korners includes two one-story, multi-tenant retail buildings and one medical office/retail building. The property was …
Birmingham, Ala. — Stan Johnson Co. has arranged the sale leaseback of Pilot Travel Center, a 9,790-square-foot convenience store located at 901 Bankhead Highway West in Birmingham. Matt Lipson and Mike Philbin of Stan Johnson Co. represented the buyer, Brodersen Management Corp. Mountain Express Oil Co. sold the property for $9.4 million. Built in 1995, the property includes a Wendy’s quick service restaurant onsite.
Elgin, Ill. — SVN | Chicago Commercial has brokered the sale of McLean Square, a 23,405-square-foot retail strip center located in the Chicago suburb of Elgin, for $2.7 million. Dollar Tree is the anchor tenant. David Coupe of SVN worked alongside Lee Kotler of Konnect Real Estate to reposition and lease up the asset, which had fallen into receivership. Buyer and seller information was not provided.
Falls Church, Va. — Three new retailers are set to open at Birch & Broad, a 144,000-square-foot shopping center currently undergoing renovations in Falls Church. New retailers set to open in 2022 include Crumbl Cookies, Bolay Fresh Bold Kitchen and Aqua-Tots Swim Schools. Crumbl Cookies plans to open in March 2022 and will occupy a 1,597-square-foot space between Jersey Mike’s Subs and Domino’s Pizza. Bolay Fresh Bold Kitchen is set to open within a 2,972-square-foot space near Plaka Grill and Pacific Dental Services LLC. Aqua-Tots Swim Schools will occupy a …
Bentonville, Ark. — Walmart Inc. (NYSE:WMT) posted growth in earnings during its fiscal third quarter of 2021, which ended Oct. 31. Walmart’s total revenue was $140.5 billion, an increase of 4.3 percent from a year earlier when it was $134.7 billion. These numbers were also higher than Wall Street’s predictions of $135.6 billion, according to CNBC. According to Refinitiv, the discount retailer’s earnings per share were $1.45 adjusted versus $1.40 expected. Additionally, Walmart’s e-commerce sales increased 8 percent during the fiscal third quarter and 87 percent over a two-year period. …
Phoenix — SRS Real Estate Partners’ Investment Properties Group (IPG) has brokered the $65.8 million sale of Arcadia Crossing, a 453,457-square-foot grocery-anchored center located at 44th Street and Thomas Road in Phoenix. Chris Tramontano, John Redfield, Mike Polachek and Brian Polachek of SRS IPG represented the seller, a Phoenix-based family office. Pinnacle Real Estate Partners represented the buyer, a Denver-based family office. Mike Polachek and Brian Polachek with SRS Real Estate Partners are the leasing team for the property. Situated on 44 acres, Arcadia Crossing was 95 percent leased at …
Miami Gardens, Fla. — Marcus & Millichap has brokered the $47 million sale of a two-property, 198,885-square-foot retail portfolio in Miami Gardens. The properties in the portfolio include Las Villas Market Square and Miami Gardens Shopping Plaza. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller, a private Miami Beach-based ownership group. Olson and Kristol also procured the buyer, a Brooklyn-based private investment group. Robert Bhat of Marcus & Millichap Capital Corp. arranged $35 million in financing for the acquisition of the two shopping centers. Located on …
Fort Lauderdale, Fla. — CBRE has arranged the $17.1 million sale of Galleria Plaza, a 24,807-square-foot, multi-tenant retail center in Fort Lauderdale. David Donnellan and Patricia Friend of CBRE represented the seller, Sunrise Investment Properties LLC, a Florida-based entity managed by Stiles Corp., in the transaction. Paul Ahmed and Mackenzie Lampman of CBRE Capital Markets secured acquisition financing on behalf of the buyer, Shawnick Galleria LLC, an entity affiliated with a California-based private investor. The long-term fixed rate loan was placed through an undisclosed life insurance company. Galleria Plaza is …
Doral, Fla. — Three new retailers have joined the tenant lineup at Westend on 87th Shopping Center in Doral. The latest businesses to join the shopping center are Idaca Imaging & Radiology Center; Cuz Miami, a technology focused event company showroom; and Tartara & Alemana, a Venezuelan food truck. With the three new tenants, Westend on 87th is now almost fully occupied with 29 of 34 spaces leased. The property is home to tenants including Sushi Sake, Diced, Manny’s Woodhouse Grill, Eparepa, Dunkin Donuts, Sabor Havana Cigars, Vape & Smoke, …
