Peoria, Ariz. — Thompson Thrift Retail Group has completed the disposition of Sunrise Promenade, a shopping center in Peoria. An undisclosed buyer acquired the center for $18.2 million. Situated at the corner of Lake Pleasant Parkway and Happy Valley Road, Sunrise Promenade features 26,852 square feet of retail space. Current tenants include Aldi, Black Rock Coffee Bar, Club Pilates, Sherwin-Williams, Dip Nail Spa, Harumi Sushi, Wow Wow Hawaiian Lemonade, Stretch Labs, Butta Cakes and Pearle Vision.
Vero Beach, Fla. — Mitchell Gold + Bob Williams Home Furnishings Outlet has opened at Vero Beach Outlets, a 340,000-square-foot outlet center located in Vero Beach. The store opened within an 11,000-square-foot space. Retailers at Vero Beach Outlets include Michael Kors, Coach Outlet, Calvin Klein, Columbia Sportswear, Tommy Hilfiger, Gap Factory, Polo Ralph Lauren Factory Store, Design Within Reach Outlet, Williams-Sonoma Outlet and RH Outlet.
Franklin, La. — Marcus & Millichap has arranged the $4.9 million sale of a 14,820-square-foot retail property located at 2030 Main St. in Franklin. The property is net-leased to Walgreens. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company, in the transaction. David Cutler, Joshua Johnson and Kirk Trammell of Marcus & Millichap represented the buyer, also a limited liability company. Chris Shaheen of Marcus & Millichap assisted in closing the transaction.
Jupiter, Fla. — A joint venture between JB Capital Management and Royce Properties has acquired Fresh Market Village, located roughly 19 miles outside Palm Beach in Jupiter, for $25.5 million. Justin Smith of Atlantic Retail brokered the disposition of the property by Adar Jupiter LLC. The 55,046-square-foot center was 97 percent leased at the time of sale to tenants including The Fresh Market, 2 Vinez Restaurant & Wine Bar, Starbucks Coffee, Casa Mia and Gretchen Scott Designs.
Manassas, Va. — Cushman & Wakefield | Thalhimer has arranged the sale of Portsmouth Station Shopping Center, a 147,305-square-foot neighborhood retail center located roughly 31 miles outside Washington, D.C. in Manassas, Virginia. Petroleum Marketing Group acquired the property for $19.5 million. Catharine Spangler of Cushman & Wakefield | Thalhimer’s Capital Markets Group arranged the sale. Sharon Schmidt and Berkley Mitchell with Thalhimer’s Fredericksburg office will handle leasing for the center. The property was 78 percent leased at the time of sale to 20 tenants including Regency Furniture and Aldi. The …
Columbus, Ohio — Center Square, a company specializing in community events and entertainment centers, has leased a 33,000-square-foot warehouse at 225 Neilston St. in the historic Warehouse District of Columbus. The company plans to transform the building into The Kee, a community center with an indoor-outdoor event venue and a restaurant and bar. The landlord, Hackman Capital Partners, owns the majority of the real estate in the Warehouse District. Clayton Davis and Alex Ashworth of JLL represented both the landlord and the tenant in the lease transaction. Center Square plans …
Castle Rock, Colo. — Marcus & Millichap has arranged the $3 million acquisition of Encore Castle Rock, a retail building located at 20 Wilcox St. in Castle Rock. Cory Gross of Marcus & Millichap’s Denver office represented the buyer, an undisclosed private investor, in the transaction. Well State Healthcare is a tenant at the 8,297-square-foot property. The buyer plans to open a coffee shop and fitness facility at the building, according to Marcus & Millichap.
Atlanta — JLL Capital Markets has arranged a construction loan for Phase I of High Street, a $2 billion, 36-acre mixed-use project located along Perimeter Center Parkway in Atlanta. Ed Coco and Matt Casey of JLL secured the financing through Bank OZK on behalf of the developer, GID Development Group. At full build-out, the development will feature 150,000 square feet of retail and restaurants, 600 luxury multifamily units and 90,000 square feet of office space. GID will break ground on Phase I of the project this year with completion scheduled …
Lawrenceville, Ga. — Zach Taylor of the Taylor-McMinn Retail Group, a team within Marcus & Millichap’s Institutional Property Advisors (IPA) division, has brokered the $12.6 million sale of Village Shoppes at Creekside, a 98,859-square-foot shopping center in Lawrenceville. The center is located at 860 Duluth Highway in Gwinnett County, about 31.6 miles from downtown Atlanta. Tenants at the property include Badcock Furniture and Harbor Freight Tools. Taylor represented the seller, Lamar Cos., in the transaction. Azad Commercial Realty Services, a private investor, purchased the property.
Mesquite, Texas — Weitzman has brokered the sale of a 73,872-square-foot retail building located on a 9.2-acre site at 3677 W. Emporium Circle in the eastern Dallas suburb of Mesquite. The undisclosed buyer will use the freestanding building, which previously housed an Academy Sports + Outdoors, as a showroom and warehouse for wholesale nail salon supplies. Cameron Mai of Weitzman represented the buyer in the deal. Mason Bishop of Transwestern represented the seller, a Houston-based partnership.