Mobile, Ala. — Mobile-based Burton Property Group and Peaceable Street Capital have closed the $123 million recapitalization of a four-property shopping center portfolio in Alabama. The properties include Riviera Square and Foley Square in Foley, Jubilee Square in Daphne and Westwood Plaza in Mobile. The 785,000-square-foot portfolio was 98 percent leased at the time of the recapitalization, details of which were not disclosed. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL arranged the financing on behalf of Burton Property Group, which will use its newfound capital flexibility on its …
Vancouver, Wash. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a 227,680-square-foot retail center in Vancouver. Situated on 28 acres across 11 buildings, Hazel Dell is anchored by Safeway. Other tenants at the center include Ross, Marshalls, Parkrose Hardware, Sola Salons, Killer Burger and Sally Beauty. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s correspondent …
Jacksonville, Fla. — Locally based real estate development firm Gateway Jax has signed a lease with Publix to anchor Pearl Square, a 1.5 million-square-foot mixed-use development underway in Jacksonville. The new Publix will span 31,000 square feet in a building that will also include a 15-story residential tower with 250 apartment units and 400 parking spaces. Gateway Jax and Corner Lot are expected to begin construction on the grocery store in summer 2026. Upon completion of Pearl Square, the $2 billion development will comprise 1,250 residential units, approximately 200,000 square feet …
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Academy Sports + Outdoors Opens 11 New Stores in Third Quarter 2025
Katy, Texas — Katy, Texas-based Academy Sports + Outdoors has opened 11 new stores in the third quarter of this year, with plans to debut a total of up to 25 new locations in 2025. The sporting goods and outdoor recreation retailer has already launched three new locations in Boardman, Ohio; Beaufort, South Carolina; and Virginia Beach, Virginia; and will open eight more stores in fall 2025 in Rome, Georgia; Cullman, Alabama; Mishawaka, Indiana; Lakeland, Florida; Columbia, Tennessee; Albany, Georgia; Palestine, Texas; and Batesville, Mississippi. The 11 new store openings this …
Boston — Boston-based Wilder has been selected to provide management services for 74 retail properties across Massachusetts, New Hampshire and Rhode Island on behalf of Linear Retail Properties. With the addition of these properties, Wilder’s portfolio now exceeds more than 100 locations, ranging from Maine to Florida.
Johns Island, S.C. — Pinckney Partners and Coldwell Banker Commercial Atlantic have unveiled plans for South Island Market, a 34-acre mixed-use project under development on Johns Island, about 13 miles south of Charleston. The project will span 82,000 square feet across eight buildings, which will be designated for retailers, restaurants, service-based tenants and office space. The development will also include 79 luxury townhomes built by Fort Washington, Pennsylvania-based Toll Brothers, along with 16 acres of open space. Buddy Darby and Charles Darby of Pinckney Partners are the developers of South …
Fort Wayne, Ind. — Mid-America Real Estate Corp. has brokered the sale of Covington Plaza, a 182,051-square-foot community center located in Fort Wayne. The center is anchored by The Fresh Market and features a mix of additional tenants including Pet Supplies Plus, Tequila Mexican Cantina, Cap n’ Cork, Christopher James Menswear and Catablu Grille. Ben Wineman, Joe Girardi, Rick Drogosz and Eric Geskermann of Mid-America represented the seller, Broad Reach Retail Partners, in the transaction. The buyer was Charleston, South Carolina-based Ziff Real Estate Partners.
Rolesville, N.C. — Chapel Hill, North Carolina-based Prudent Growth Partners has sold Rolesville Town Center, a 19,500-square-foot neighborhood shopping center located in Rolesville, a suburb of Raleigh. The property sold for $4.5 million. Tenants at the center include Megan Nails, Kruse Chiropractic, Black & White Coffee Roasters, Pizza Hut and Rolesville Equipment Co. Additional details of the transaction were not disclosed. Prudent originally purchased Rolesville Town Center in September 2021 for $3.1 million.
Aurora, Ill. — Locally based Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of Eola Crossing, a 14,238-square-foot retail center located in Aurora, roughly 40 miles west of Chicago. At the time of sale, the property was 90 percent leased to tenants such as Subway, Dunkin’, Wing Snob and Smile Family Dental. Dan Waszak and Brett Berlin of Quantum represented the seller, a Florida-based public REIT. The buyer was an Illinois-based private investor.
San Diego — JLL Capital Markets has arranged the $34.9 million sale and financing of The Headquarters, a 73,823-square-foot open-air shopping center in San Diego’s Marina District at the entrance to Seaport Village. A private real estate investment firm sold the property to a private real estate partnership. The Headquarters, formerly the San Diego Police headquarters complex, was completely repositioned in 2013 and features a mix of food and beverage, daily needs and apparel tenants. The property was 83.3 percent leased at the time of sale. Current tenants include Eddie …