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.
Suwanee, Ga. — Stan Johnson Co. has arranged the sale of Suwanee Celebration Village, a 14,388-square-foot shopping center in the Atlanta suburb of Suwanee. Jeff Enck, Brian Lane and Emery Shane of Stan Johnson Co. represented the seller, a locally-based group of private investors. A McDonough, Georgia-based individual investor acquired the property for $5.1 million. Built in 2019, the center was fully leased at the time of sale to seven tenants including Verizon Wireless and ATI Physical Therapy.
Saint Charles, Ill. — The Boulder Group has arranged the $3.3 million sale of a PNC Bank ground lease in Saint Charles, about 40 miles west of Chicago. The 3,586-square-foot building is located at 3879 E. Main St. The property serves as an outparcel to a Target-anchored shopping center. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private, Midwest-based real estate investor. An undisclosed Midwest-based buyer acquired the property through a 1031 exchange.
Chicago — McHugh Construction has begun the renovation of the historic Ramova Theater in Chicago’s Bridgeport neighborhood. The scope of the project involves restoring the theater and building out adjacent space for a new brewery and restaurant. Originally constructed in 1929, the theater has been vacant since 1985. Completion is slated for late 2022. The project is a public-private partnership with the City of Chicago and co-developers Our Revival Chicago and Baum Revision. Upon completion, the 22,000-square-foot Ramova Theater will include a 1,600-seat auditorium and a separate balcony-level theater that …
