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Redondo-Plaza-Gardena-Calif
CaliforniaGrocery-anchoredInvestment salesNews

JLL Arranges $15.1 Million Sale of Shopping Center in Gardena, California

by Hayden Spiess

Gardena, Calif. — JLL Capital Markets has brokered the sale of Redondo Plaza, a 28,000-square-foot retail center located in Gardena. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Bryan Ley of JLL represented the seller, Storm Properties, in the $15.1 million transaction. JLL also procured the private, 1031-exchange buyer. Redondo Plaza, which was 100 percent leased at the time of sale, is anchored by Aldi. Tenants include Domino’s Pizza, T-Mobile, Jackson Hewitt, Super Laundry and Crazy Rock’n Sushi.

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OAK-Oklahoma-City
DevelopmentLeasingMixed-useNewsOklahoma

Veritas Development Begins Signing Tenants to 20-Acre OAK Project in Oklahoma City

by Hayden Spiess

Oklahoma City — Veritas Development’s OAK, a 20-acre mixed-use project currently under development in Oklahoma City, has attracted tenants including RH, a home furnishing store; Arhaus, a furniture and design store; and Capital Grille, a steakhouse. RH will occupy 42,000 square feet, Arhaus will lease 17,000 square feet and Capital Grille will open a 10,000-square-foot restaurant. Additionally, Veritas has announced a 132-key boutique hotel in partnership with Gatehouse Capital, and 320 multifamily homes in collaboration with Mintwood Real Estate. Work at the project site began this summer, and vertical construction …

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LeasingMichiganNews

Millennial Collection to Open 1,600-Square-Foot Store in Detroit Suburb

by Hayden Spiess

Sterling Heights, Mich. — Millennial Collection, a trading card and gaming store, has signed a lease for 1,600 square feet at Brookside Shopping Center in Sterling Heights, a suburb of Detroit. The tenant will occupy space formerly home to an arcade. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed landlord in the lease.

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Hawthorn-Mall-Vernon-Hills-Ill
DevelopmentIllinoisMixed-useNews

Centennial Expands Redevelopment Plans for Hawthorn Mall in Vernon Hills, Illinois

by Hayden Spiess

Vernon Hills, Ill. — Dallas-based real estate firm Centennial has revealed plans to expand on its Hawthorn 2.0 redevelopment of Hawthorn Mall, a super-regional shopping center in Vernon Hills, a northern suburb of Chicago. Built in 1973, the mall currently houses over 120 retailers. Centennial first announced the redevelopment of Hawthorn Mall in 2019, which included new retail and dining options, luxury multifamily housing and indoor/outdoor gathering spaces. The expanded plans nearly triple the new development at the property and include 162 units of seniors housing, a 25,000-square-foot grocery store …

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Shoppes-Park-Place_Pinellas-Park
FloridaInvestment salesNews

JLL Brokers $85 Million Sale of Shoppes at Park Place in Tampa Bay Area

by Hayden Spiess

Pinellas Park, Fla. — JLL has brokered the $85 million sale of Shoppes at Park Place, a 361,250-square-foot shopping center located at 7200 U.S. Highway 19 N in the Tampa Bay suburb of Pinellas Park. Brad Peterson, Tom Hall, Whitaker Leonhardt and Michael Brewster of JLL represented the unnamed seller in the transaction. CBRE represented the buyer, Belleair Development, which funded the acquisition with a $51 million loan. Built in 2006, Shoppes at Park Place was 97.4 percent leased at the time of sale to tenants including Regal Cinemas, Academy …

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601-617-Mall-Ring-Circle-Henderson-NV
Investment salesNevadaNewsRestaurants

PEBB Enterprises Sells Galleria Pavilion Shopping Center in Henderson, Nevada for $22.5 Million

by Hayden Spiess

Henderson, Nev. — PEBB Enterprises has completed the sale of Galleria Pavilion, a shopping center located in Henderson, approximately 15 miles southeast of Las Vegas. Dong Koo Kim and Jong Ok Kim, trustees of the Dong Koo Kim and Jong Ok Kim Family Trust, acquired the property for $22.5 million. The 64,598-square-foot Galleria Pavilion is on an outparcel of Sunset Mall, a 1.1-million-square-foot retail center. At the time of sale, the property was 95 percent occupied by tenants including Buffalo Wild Wings, Panera Bread, Nothing Bundt Cakes, Aqua Tots and …

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Super-Tropical-Foodmarket
Grocery-anchoredLeasingNew JerseyNews

Super Tropical Foodmarket Signs 15,800-Square-Foot Lease in South Plainfield, New Jersey

by Hayden Spiess

South Plainfield, N.J. — Super Tropical Foodmarket is set to open a 15,800-square-foot location at Clinton Corners, a retail center located roughly 30 miles outside of New York City in South Plainfield. Other tenants at the 30,300-square-foot shopping center include Burger King and T&J Fish Market. Vanessa Fernandez-Kelty of Levin Management Corp. secured the lease on behalf of the undisclosed landlord.  

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12005-Central-Ave-Chino-CA
CaliforniaInvestment salesNewsRestaurants

SRS Real Estate Partners Negotiates Sale of Two Retail Properties in Chino, California

by Hayden Spiess

Chino, Calif. — SRS Real Estate Partners has arranged the sales of two single-tenant retail buildings that are outparcels to Country Fair Shopping Center, a 168,000-square-foot shopping center located in Chino. Separate California-based private investors acquired the assets from a Southern California-based private investor for a total of $6.2 million. Quick-service-restaurants Wienerschnitzel and Carl’s Jr. occupy the two buildings. Built in 1976, the 1,600-square-foot, Wienerschnitzel-occupied building sold for $2.4 million. The tenant has approximately seven years remaining on its corporate lease. Constructed in 2016, the 3,796-square-foot Carl’s Jr.-occupied property sold …

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Southern-Plaza
Grocery-anchoredIndianaInvestment salesNews

First National Realty Partners Acquires 268,000-Square-Foot Shopping Center in Indianapolis

by Hayden Spiess

Indianapolis — First National Realty Partners (FNRP) has acquired Southern Plaza in Indianapolis for an undisclosed price. A 59,500-square-foot Kroger store anchors the 268,000-square-foot shopping center. A tenant at the center since 1990, Kroger recently updated its storefront and renovated the interior. Additional tenants at the property include Ross Dress for Less, Harbor Freight, Oak Street Health, Goodwill, Rue 21, Qdoba, Cosmo Prof, BMO Bank and Sally Beauty. John May of Prodigy Real Estate Group represented the undisclosed seller in the transaction.

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New City Shopping Center
Grocery-anchoredInvestment salesNew YorkNews

KABR Group, BTF Purchase 125,110-Square-Foot Shopping Center in New City, New York

by Hayden Spiess

New City, N.Y. — The KABR Group, in partnership with BTF, has purchased New City Shopping Center, a 125,110-square-foot property located in New City, roughly 40 miles north of New York City. The grocery-anchored retail center was 96 percent leased at the time of the $30 million sale. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Oliver, Steve Simonelli, Andrew Scandalios and Austin Pierce of JLL Capital Markets represented the undisclosed seller in the transaction.

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