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CVS_Virginia-Beach
Investment salesLeasingNewsVirginia

Matthews Arranges $10.6 Million Sale of Retail Property Leased to CVS/pharmacy in Virginia Beach

by Hayden Spiess

Virginia Beach, Va. — Matthews Real Estate Investment Services has brokered the sale of a 13,225-square-foot store located at 1701 Independence Blvd. in Virginia Beach. The single-tenant property was leased to CVS/pharmacy at the time of sale. Preston Schwartz and Chad Kurz of Matthews represented the private seller in the transaction. Jason Maier of Stan Johnson Co. represented the undisclosed buyer, which acquired the property for $10.6 million. CVS/pharmacy has a little over 12 years remaining on the lease.

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LeasingNewsPennsylvania

Let’s Roll Signs 1,119-Square-Foot Lease in South Central Pennsylvania

by Hayden Spiess

Columbia, Pa. — Let’s Roll — a store specializing in the sale, service, and rental of electric bikes, scooters, and mopeds — has signed a lease at Riverview Terrace, a shopping center located in Columbia, approximately 90 miles west of Philadelphia. Let’s Roll will occupy 1,119 square feet of space at the 30,621-square-foot retail center. Nate Resh and Patten Mills of ROCK Commercial Real Estate brokered the lease agreement. This marks the second location for Let’s Roll, which previously opened a store in Lancaster City.

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120-Fifth-Ave-Brooklyn
DevelopmentFinanceMixed-useNew YorkNews

Cushman & Wakefield Arranges $142.9 Million in Construction Financing for Mixed-Use Project in Brooklyn

by Hayden Spiess

New York City — Cushman & Wakefield has arranged $142.9 million in construction financing for 120 Fifth Ave., a mixed-use development in the Park Slope neighborhood of Brooklyn. The borrowers, Senlac Ridge Partners and The William Macklowe Company, are redeveloping the two-acre site, currently a one-story vacant grocery store and its parking lot, into a 212,000-square-foot mixed-income housing property and retail plaza. The project will comprise two buildings featuring 180 residential units, 25 percent of which will be affordable. The development will also offer 67,000 square feet of retail space …

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Snellville-Pavilion-Snellville-Ga
GeorgiaInvestment salesNews

Atlantic Capital Partners Brokers $38.3 Million Sale of Shopping Center in Metro Atlanta

by Hayden Spiess

Snellville, Ga. — Atlantic Capital Partners has arranged the sale of Snellville Pavilion, a 311,093-square-foot retail center located in Snellville, a suburb roughly 25 miles outside of Atlanta. Fred Victor, Justin Smith and Chris Peterson of Atlantic represented the seller, Kimco Realty, and procured the buyer, United Properties, in the $38.3 million transaction. Kohl’s and Belk — both of which have been tenants since 2000 — anchor the shopping center.

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Gateway-Commons-Palmetto-Fla
FloridaGrocery-anchoredLeasingNews

Six New Tenants Join Gateway Commons in Palmetto, Florida

by Hayden Spiess

Palmetto, Fla. — Primerica Developments Inc. has announced the addition of six new tenants to Gateway Commons, a shopping center located in Palmetto, off of Tampa Bay. New tenants include Pure Barre, Mid Florida Insurance Group and The Blend Coffee & Cocktails, as well as three as yet unnamed tenants including a fast-food restaurant, a wireless provider and a medical group. Existing tenants at the shopping center include Publix Super Market, Jet’s Pizza, Hornback Chiropractic & Wellness, Nail Boutique and Spa, Yummy Tokyo Asian Fusion Bistro and Dental Care at …

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Harmony-Plaza_Port-Richey
FloridaInvestment salesNews

Marcus & Millichap Brokers $7.7 Million Sale of Harmony Plaza Shopping Center in Port Richey, Florida

by Hayden Spiess

Port Richey, Fla. — Marcus & Millichap has brokered the $7.7 million sale of Harmony Plaza, an 82,820-square-foot shopping center located in Port Richey. James Medefind, Jim Shiebler, James Garner and Jonathan Gerszberg of Marcus & Millichap represented the seller, a California-based private investor, in the transaction. A private investor purchased the property. Built in 1973 and located on a six-acre site, Harmony Plaza was 87 percent leased at the time of sale to tenants including Big Lots.

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Crumbl-Cookies-North-Brunswick-NJ
LeasingNew JerseyNews

Crumbl Cookies Opens 1,794-Square-Foot Store in North Brunswick, New Jersey

by Hayden Spiess

North Brunswick, N.J. — Crumbl Cookies has opened a location at The Shoppes at North Brunswick, a retail center located in North Brunswick in northern New Jersey. Crumbl has leased 1,794 square feet of space in the open-air shopping center, which was represented by Kevin Pelio and James Azarian of Azarian Realty Co. in the negotiation. Jerry Johnson of Bennett Williams Commercial represented Crumbl. Other tenants at the property, which comprises 147,055 square feet of gross leasable space, include over 35 national brands.

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SouthSide-Works-Pittsburgh
FinanceMixed-useNewsPennsylvania

JLL Arranges $74 Million Financing for Mixed-Use Property in Pittsburgh

by Hayden Spiess

Pittsburgh —JLL Capital Markets has secured $74 million in financing for SouthSide Works, a 471,939-square-foot mixed-use development located in Pittsburgh. Nick Unkovic and Jeremy Bernstein of JLL arranged the financing — in the form of a six-year, floating-rate loan — with Dollar Bank on behalf of the borrower, SomeraRoad. SouthSide comprises five buildings and features 245,570 square feet of office space and 226,369 square feet of retail space. Tenants at the development include Fred Rogers Productions, COhatch, General Dynamics, LA Fitness, Pins Mechanical, Speckled Egg and Common Place Coffee, 1:11 …

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Shops-at-Somerset-Square-Hartford-Conn
ConnecticutInvestment salesNews

Poag Acquires 113,422-Square-Foot Retail Center in Metro Hartford

by Hayden Spiess

Glastonbury, Conn. — Poag Shopping Centers has purchased The Shops at Somerset Square, a 113,422-square-foot open-air shopping center located in Glastonbury, roughly 10 miles southeast of Hartford. This acquisition is the continuation of a strategic partnership with JLL, in which Poag provides development and redevelopment services and JLL provides management and leasing services. JLL currently manages Poag’s existing portfolio of 10 open-air retail centers.

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Chicken-N-Pickle-Overland-Park-Kansas
NewsRestaurantsTexas

Chicken N Pickle to Open Restaurant, Entertainment Venue in Suburban Dallas

by Hayden Spiess

Allen, Texas — Chicken N Pickle, a Kansas City-based concept that combines dining with pickleball and other outdoor games, will open a restaurant and entertainment venue in the northeastern Dallas suburb of Allen. The tenant will open at The Farm, a 135-acre mixed-use development by JaRyCo, in late 2023. Chicken N Pickle also has locations in the Dallas-Fort Worth metros of Grand Prairie and Grapevine, as well as San Antonio, and has committed to a new space in Webster, a southwestern suburb of Houston.

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