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Christenbury-Village
DevelopmentLeasingNewsNorth Carolina

Lowes Foods Signs 52,000-Square-Foot Lease at Christenbury Village in Concord, North Carolina

by Katie Sloan

Concord, N.C. — Lowes Foods has signed a lease to anchor Christenbury Village, a planned mixed-use development in Concord. Christenbury Investors — an entity affiliated with MPV Properties and Mission Properties — is the developer of the 17-acre project. Lowes Foods will occupy a 52,000-square-foot space within the development, which is set to include two mixed-use buildings featuring approximately 150 multifamily units and about 26,000 square feet of retail space, alongside a 24,000-square-foot medical office building. The developer plans to break ground on Phase I of the project in the …

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Wichester-Center
LeasingMichiganNews

Burlington to Open at Winchester Center in Metro Detroit

by Katie Sloan

Rochester Hills, Mich. — Burlington is set to backfill a 31,059-square-foot space formerly occupied by Stein Mart at Winchester Center in Rochester Hills, about 25 miles north of Detroit. RPT Realty owns the shopping center, which is located at the southwest corner of Rochester and Avon roads. Tjader Gerdom, Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented RPT in the lease transaction.

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Target_Mandeville
LeasingLouisianaNews

Target to Open 58,000-Square-Foot Store at Premier Centre in Mandeville, Louisiana

by Katie Sloan

Mandeville, La. — Target is set to open a 58,000-square-foot store at Premier Centre, a 273,000-square-foot shopping center in Mandeville. The store will occupy a combination of space formerly occupied by Stein Mart and an adjacent space currently occupied by Rack Room Shoes, which will be relocating to another storefront within the center. An additional 13,000 square feet will be built onto the back of the building to accommodate the new tenant. Whole Foods Market anchors Premier Centre, which is 97 percent leased to tenants including Bed Bath & Beyond, …

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Citivest
Investment salesMontanaNews

Citivest Commercial, Sage Investco Acquire 116,992-Square-Foot Retail Property in Helena, Montana

by Julia Sanders

Helena, Mont. — Citivest Commercial Investments and Sage Investco have purchased a former department store building in Helena for an undisclosed price. The 116,992-square-foot property also includes two pad development opportunities, with one ground finalized and another in negotiations. Shopko formerly occupied the building, which is situated within a larger center anchored by Albertsons, Target, JoAnn Fabric and Crafts and Ross Dress for Less. The buyers plan to implement a renovation program, which will include updating paint colors, landscaping and signage to maximize the center’s value. The name of the …

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ConnecticutInvestment salesNews

JLL Negotiates $20.2 Million Sale of Retail Center in Suburban New Haven

by Julia Sanders

Wallingford, Conn. — JLL has negotiated the $20.2 million sale of a 160,000-square-foot retail center located in the New Haven suburb of Wallingford. Lowe’s Home Improvement anchors the center, which was fully leased at the time of sale. Nat Heald and Chris Angelone of JLL represented the seller, Davenport Cos., in the transaction. The buyer was not disclosed.

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Wegmans
DevelopmentNewsWashington DC

Wegmans to Open 84,000-Square-Foot Store in Northwest D.C.

by Julia Sanders

Washington, D.C. — Wegmans Food Markets is set to open its first store in Northwest Washington, D.C. The new location will open within the $640 million City Ridge project by Roadside Development and North America Sekisui House, which includes commercial, residential and retail space. The 84,000-square-foot Wegmans will open in summer 2022 and include a Market Café, coffee shop and a casual restaurant called The Burger Bar. The store site will also offer parking below with residential units above. Wegmans now operates 106 stores in seven states, and is set …

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4241
CaliforniaInvestment salesNews

Matthews Brokers $10.1 Million Sale of Rite Aid-Occupied Retail Property in Sacramento

by Julia Sanders

Sacramento, Calif. — Matthews Real Estate Investment Services has arranged the sale of a retail building located at 4241 Marconi Ave. in Sacramento. A private individual sold the property to an undisclosed buyer for $10.1 million. Rite Aid occupies the property. Courtney Haubach, Bill Pedersen and Chad Kurz of Matthews represented the seller and sourced the buyer for the transaction.

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12918-12930
CaliforniaInvestment salesNews

Commercial Asset Advisors Negotiates $6 Million Purchase of Retail Center in San Diego County

by Julia Sanders

Jamul, Calif. — Commercial Asset Advisors (CAA) has arranged the off-market acquisition of a retail center located in Jamul. Fuel Team Inc. purchased the property from Dan Floit for $6 million. Located 12918-12930 Campo Road, a 7-Eleven gas station anchors the 18,926-square-foot property. Gino Kalasho and Mike Conger of CAA represented the buyer in the transaction.

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FinanceIndianaNews

Ariel Property Advisors Arranges $2.8 Million Refinancing of Walgreens-Occupied Property in Decatur, Indiana

by Julia Sanders

Decatur, Ind. — Ariel Property Advisors has arranged the $2.8 million refinancing of a 15,000-square-foot retail property occupied by Walgreens in Decatur, about 20 miles southeast of Fort Wayne. The property is located at 123 N. 13th St. Matt Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which features a fixed interest rate of 3.99 percent. A national credit union provided the loan on behalf of the undisclosed borrower.

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Pelican Place
AlabamaInvestment salesNews

Franklin Street Arranges $16 Million Sale of Shopping Center in Gulf Shores, Alabama

by Julia Sanders

Gulf Shores, Ala. — Franklin Street has arranged the sale of Pelican Place at Craft Farms, a 220,372-square-foot shopping center in Gulf Shores. Bryan Belk and John Tennant of Franklin Street’s Retail Investment Sales Team represented the seller, an affiliate of RCG Ventures, in the transaction. Octave Holdings purchased the property for $16 million. Pelican Place at Craft Farms was 82.9 percent leased at the time of sale to tenants such as CMX Cinemas movie theater, Books-A-Million, Bed Bath & Beyond and Dollar Tree. The property is shadow-anchored by Target …

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