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Investment salesNet leaseNewsNorth Carolina

Marcus & Millichap Arranges $3.3 Million Sale of Child Care Property in Charlotte, North Carolina

by Hayden Spiess

Charlotte, N.C. — Marcus & Millichap has arranged the $3.3 million sale of Big Blue Marble Academy, a net-leased childcare property located in Charlotte. Dominic Sulo of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a New Jersey-based limited liability company, and secured the 1031-exchange buyer, a Chicago area multifamily LLC. Andrean Angelov and Ryan D. Engle of Marcus & Millichap and Benjamin Yelm, the North Carolina broker of record, assisted in closing the transaction.

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CaliforniaInvestment salesNet leaseNews

Hanley Brokers $3.2 Million Pre-Sale of Car Wash Property in Southern California

by Hayden Spiess

Moreno Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million pre-sale of a new construction car wash property located in Moreno Valley, within the Moreno Valley Marketplace shopping center. Quick Quack Car Wash will occupy the property on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley — in association with Jason Gordon of Epsteen & Associates — arranged the sale on behalf of the developer and seller, Inland Iris Partners Inc., an affiliate of The Lynch Group Inc. Amy Kim of Hanbada …

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LeasingNewsWisconsin

Starbucks Inks Two New Leases Totaling 4,920 Square Feet in Wisconsin

by Hayden Spiess

New Richmond and Sparta, Wis. — Starbucks Coffee has signed two new retail leases in Wisconsin for spaces comprising 2,460 square feet each. The first property is located in New Richmond, about 45 miles northeast of Minneapolis. The other is in Sparta, about 28 miles east of La Crosse. Tony Colvin of Mid-America Real Estate represented Starbucks Coffee. The landlords for both properties were Jacques Holdings LLC and an entity doing business as OLH II LLC.

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The-Block-at-Phipps-Atlanta
DevelopmentGeorgiaNews

Selig to Reimagine 9.4-Acre Lenox Marketplace in Atlanta

by Hayden Spiess

Atlanta — Selig Enterprises has unveiled plans for the renovation and rebranding of Lenox Marketplace in Atlanta, now known as The Block at Phipps. The retail property spans 9.4 acres in the city’s Buckhead neighborhood. Renovations to the center are scheduled to begin in the second quarter of this year. Capital improvements will include the addition of a 30-foot open-air corridor to connect the sidewalk along Peachtree Road and the center’s parking deck. Selig, which acquired the property with its partner in 2020, also plans to transform the space along …

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36-NoDa_Charlotte
Investment salesNewsNorth Carolina

Stream Realty Brokers $10.3 Million Sale of Charlotte Retail Center

by Hayden Spiess

Charlotte, N.C. — Stream Realty Partners has brokered the $10.3 million sale of 36 & NoDa, a 26,447-square-foot retail center located in Charlotte’s North Davidson (NoDa) neighborhood. AJ Capital Partners purchased the center from Ascent Real Estate Capital. Jared Londry and Alex Olofson of Stream Realty represented the seller in the transaction. 36 & NoDa was fully leased at the time of sale to tenants including Salud Cerveceria and Neighborhood Theatre.

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Investment salesMassachusettsNews

Matthews Brokers $7.7 Million Sale of Walgreens Property in Boston Suburb

by Hayden Spiess

Middleton, Mass. — Matthews Real Estate Investment Services has brokered the $7.7 million sale of a Walgreens property located in Middleton, a northern suburb of Boston. Newport Property Corp. sold the property to a New York-based private investor in a 1031-exchange transaction. Grant Korn and Maxx Bauman of Matthews represented the seller.

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LeasingNew YorkNewsRestaurants

The French Workshop Opens 3,750-Square-Foot Bakery on Long Island

by Hayden Spiess

Wantagh, N.Y. —  The French Workshop has opened a 3,750-square-foot artisanal bakery and café at Willow Wood Shopping Center in the Long Island community of Wantagh. Robert Delavale of the Breslin Realty represented the landlord in the lease negotiations on an internal basis. Cary Fabrikant, also with Breslin Realty, represented the tenant. Other tenants at the center include Starbucks Coffee, Petco and Jovia Financial Credit Union.

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Investment salesMinnesotaNet leaseNewsRestaurants

Marcus & Millichap Brokers $2.3 Million Sale of Buca Di Beppo Restaurant Property in Minneapolis Suburb

by Hayden Spiess

Eden Prairie, Minn. — Marcus & Millichap has brokered the $2.3 million sale of an 8,276-square-foot restaurant property in the Minneapolis suburb of Eden Prairie. Buca Di Beppo occupies the property on a net-lease basis. Tom Gommels of Marcus & Millichap represented the seller, a limited liability company. Alvin Mansour and Sim Liberow, also of Marcus & Millichap, represented the buyer, an LLC completing a 1031 exchange.

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DevelopmentMichiganMixed-useNews

Bedrock Plans 1.5 Million-Square-Foot Cadillac Square Mixed-Use Development in Detroit

by Hayden Spiess

Detroit —Bedrock has unveiled plans for Development at Cadillac Square, a 1.5 million-square-foot mixed-use campus in downtown Detroit. The site is located near Ford Field, home of the NFL’s Detroit Lions, as well as Campus Martius Park and Cadillac Square. The development will feature residential, retail, office and entertainment space, as well as parking. Bedrock is owned by billionaire and Rocket Cos. founder Dan Gilbert, who with his companies has invested $5.6 billion in the purchase and rehabilitation of buildings in downtown Detroit, according to Forbes. Gilbert himself boasts a …

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Company newsNewsPennsylvania

Dick’s Sporting Goods to Acquire Moosejaw

by Hayden Spiess

Pittsburgh — Dick’s Sporting Goods has agreed to acquire outdoor retailer Moosejaw from Walmart. Founded in 1992, Moosejaw operates brick-and-mortar locations in Arkansas, Colorado, Illinois, Kansas, Michigan and Missouri, in addition to its e-commerce platform. “We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers,” says Todd Spaletto, senior vice president of Dick’s and president of the company’s specialty outdoor retailer, Public Lands. Moosejaw CEO Eoin Comerford will stay on following the acquisition, reporting to Spaletto. …

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