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Crossraods-Shopping-Center_Statesville-NC
Investment salesNewsNorth Carolina

SRS Arranges Sale of Crossroads Shopping Center in Metro Charlotte

by Hayden Spiess

Statesville, N.C. — SRS Real Estate Partners’ Investment Property Group has brokered the sale of Crossroads Shopping Center, a 117,224-square-foot retail center located in the Charlotte suburb of Statesville. River City Capital purchased the center for an undisclosed price. Situated on 14.1 acres and shadow-anchored by a Walmart Supercenter, Crossroads was leased at the time of sale to tenants including Big Lots, Burkes Outlet, Dollar Tree, American Deli, rue21, Shoe Dept., Bath & Body Works and GNC. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller in …

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2551-San-Ramon-Valley-Blvd-San-Ramon-CA
CaliforniaInvestment salesMixed-useNews

University Avenue Partners Acquires 51,149-Square-Foot Mixed-Use Property Near San Francisco

by Hayden Spiess

San Ramon, Calif. — University Avenue Partners has purchased a mixed-use property located in San Ramon, approximately 40 miles east of San Francisco. Terms of the transaction were not released. At the time of sale, the 52,149-square-foot property was 90 percent leased to a mix of office and retail tenants. Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak of Newmark facilitated the transaction. Nicholas Bicardo of Newmark advised on the retail component of the sale.

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Investment salesNewsWisconsin

Colliers Brokers Sale of Newly Constructed Retail Building in Metro Milwaukee

by Hayden Spiess

Greendale, Wis. — Colliers has brokered the sale of a newly constructed retail building on 76th Street in Greendale, a southern suburb of Milwaukee. The property is fully leased to Summit Credit Union, AT&T, Crumbl Cookies and Tropical Smoothie Café. Adam Connor, Heather Dorfler and Josh Minkin of Colliers represented the undisclosed seller and procured the California-based buyer in the transaction. A local credit union provided acquisition financing.

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Live!-Gaming & Entertainment- District-Petersburg-Va
DevelopmentMixed-useNewsVirginia

Cordish Cos. to Build $1.4 Billion Mixed-Use Development in Metro Richmond

by Hayden Spiess

Petersburg, Va. — Cordish Cos. has announced plans for a $1.4 billion mixed-use project located in Petersburg, roughly 24 miles south of Richmond. Upon completion, the development, dubbed Live! Gaming & Entertainment District, will comprise 4 million square feet, including 600,000 square feet of retail, dining and entertainment space. The property will also include 1,300 residential units, 500 hotel rooms and office space. Built in phases, the project’s first phase will consist of the Live! Casino & Hotel Virginia, pending legislative approval. Plans for the first phase include 670,000 square …

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Galleria-Elgin-Ill
IllinoisInvestment salesNet leaseNews

Marcus & Millichap Brokers $27 Million Sale of Two Retail Centers in Suburban Chicago

by Hayden Spiess

Elgin and Orland Park, Ill. — Marcus & Millichap has arranged the sale of two retail centers located in the Chicago suburbs of Orland Park and Elgin in transactions totaling $27 million. The first property, located in Orland Park, sold for $17.6 million. The center spans 20,732 square feet and includes three freestanding, single-tenant net-leased buildings and one multi-tenant building. The property was fully leased at the time of sale to tenants including BJ’s Brewhouse, Raising Cane’s and Smashburger. The second property, Galleria of Elgin, features two buildings totaling 24,000 …

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Investment salesNewsNorth Carolina

JLL Brokers $12.8 Million Sale of North Carolina Shopping Center

by Hayden Spiess

New Bern, N.C. — JLL Capital Markets has brokered the sale of New Bern Marketplace, a 59,516-square-foot shopping center located in New Bern. Evans Best LLC acquired the property for $12.8 million. Harris Teeter shadow anchors the center, which was 81 percent occupied at the time of sale by tenants including HomeGoods, Bath & Body Works, Domino’s, Wingstop and Sports Clips. Tom Kolarczyk and Danny Finkle of JLL represented the seller, Columbia Development Group and Lubert Adler. Meybohm Commercial represented Evans Best in the transaction.

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GeorgiaGrocery-anchoredInvestment salesNews

ShopOne Acquires 68,744-Square-Foot Shopping Center in Metro Atlanta

by Hayden Spiess

Kennesaw, Ga. — ShopOne Centers REIT Inc., with partners Pantheon and an undisclosed institutional investor, has purchased Kennesaw Walk, a Publix-anchored 68,744-square-foot shopping center located in Kennesaw, approximately 30 miles northwest of Atlanta. Tenants at the center, which was 89 percent leased at the time of sale, include Subway, H&R Block, Supercuts and State Farm Insurance. This acquisition brings the joint venture’s portfolio to 10 properties comprising over 1 million square feet.

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Investment salesNewsOklahoma

Monfort Acquires 19-Store Gas Station Portfolio in Southwest Oklahoma

by Hayden Spiess

Denver — 7E CO Holdings LLC, a division of Monfort Cos., has acquired a portfolio comprising 19 gas stations and convenience stores. Located across Southwest Oklahoma, the stores will all be operated under the Chisholm Corner brand name. Grant McWhirter of Southwest Petroleum Realty represented the seller, Bostick and Associates, in the transaction.

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NY-Retail
FeaturesFrom The MagazineNew York

NYC Retail Enters A New Phase Of Discovery

by Katie Sloan

The New York City retail market is currently functioning like an episode of The Price Is Right. Developers, investors, brokers and operators are all trying to attach fair values to rents and sales prices for spaces of all sizes and submarkets. But after a tumultuous period marked by a global pandemic and record inflation, followed by a string of severe interest rate hikes, accurately assigning those numbers is easier said than done — at least in some submarkets. According to data from JLL, at the end of the third quarter, the …

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Lahaina-Gateway-Lahaina-Hawaii
Grocery-anchoredHawaiiInvestment salesNews

JLL Arranges $37.3 Million Sale of Western Maui Shopping Center

by Hayden Spiess

Lahaina, Hawaii — JLL Capital Markets has arranged the sale of Lahaina Gateway, a retail center comprising 135,996 square feet in the West Maui community of Lahaina. U.S. Realty Partners Inc. acquired the property for $37.3 million. Bryan Ley, Gleb Lvovich, Geoff Tranchina and Keenan Sue of JLL represented the seller, an institutional investment firm, in the transaction. Anchored by Foodland Farms, Ace Hardware and Ross Dress for Less, the property was 77 percent occupied at the time of sale, with upcoming leases that will bring occupancy to 90 percent. …

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