Muscle Shoals, Ala. — A partnership between Coro Realty and PGM Properties has sold Muscle Shoals Commons, a 58,760-square-foot retail center located in the Northern Alabama town of Muscle Shoals for $13 million. Publix anchors the property, which was 90 percent leased at the time of sale to tenants including Great Clips, Healthsource Chiropractic and Yogurt Mountain. Fred Victor or Transwestern represented the seller in the transaction.
Cary, N.C. — Hines and Columbia Development have completed Phase I of Fenton, a 945,000-square-foot mixed-use development in the Raleigh suburb of Cary. The 69-acre first phase of the project includes 200,000 square feet of Class A office space; 345,000 square feet of retail, restaurants and entertainment venues; and a 254,000-square-foot parking deck offering 811 spaces. The development team included USAA Real Estate, design firm Nelson Worldwide and general contractor Hoar. Tenants for Phase I, which were announced last year, include Williams Sonoma, Pottery Barn, Athleta, Von Kekel Aveda Lifestyle …
Port Washington, N.Y. — Cedar Realty Trust has sold a portfolio of 33 grocery-anchored shopping centers for $879 million, inclusive of existing debt. The names and addresses of the centers were not disclosed, but the properties are primarily located in high-density markets throughout the Northeast and Mid-Atlantic regions. The buyer was a joint venture between two New York City-based firms, DRA Advisors and KPR Centers. The sale, which was first announced in March, comes as part of the New York-based REIT’s plan to divest of its assets prior to being …
Franklin Park, N.J. — Stan Johnson Co. has arranged the $56 million sale of Franklin Towne Center, a 138,000-square-foot shopping center located in Franklin Park. Stop & Shop anchors the property, which was developed in 1990. Isaiah Harf of Stan Johnson represented the seller, a New York-based developer, in the disposition of the center to an investment firm based in New Jersey.
West Haverstraw, N.Y. — JLL Capital Markets has brokered the $26.5 million sale of Samsondale Plaza, a 156,185-square-foot retail center located in the Rockland County community of West Haverstraw. Stop & Shop anchors the property, which was 91 percent leased at the time of sale to tenants including the New York State Department of Motor Vehicles, Dollar Tree, Advance Auto, Sports Clips, Sally Beauty Supply and Mandee. Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn, Austin Pierce and Andrew Scandalios of JLL represented the seller, a joint venture …
Phoenix and Scottsdale, Ariz. — MDC Realty Advisors, a subsidiary of Epic Investment Services, has sold two shopping centers totaling 38,274 square feet in Phoenix and Scottsdale for $25.7 million. Dispositions include Corner on 7th, a 16,202-square-foot strip center located at 527-539 W. McDowell Road in Phoenix; and The Marketplace at Lincoln and Scottsdale, a 22,072-square-foot neighborhood center located at 6560-6590 N. Scottsdale Road in Scottsdale. Corner on 7th was 93.5 percent leased at the time of sale to Ahi Poke, Wingstop, Vovemeena, Mad Greens, Chipotle Mexican Grill, Zoyo, Cryotherapy …
San Leandro, Calif. — An affiliate of Madison Marquette has completed the sale of Bayfair Center, a 42-acre regional mall located adjacent to a BART subway station in San Leandro. B3 and GAW Capital Partners acquired the property for an undisclosed price. Located at 15555 E. 14th St., Bayfair Center was 91 percent leased at the time of sale to tenants including Target, Century Theaters, Macy’s, Kohl’s, Bed Bath & Beyond, Ulta Beauty, Old Navy, 24 Hour Fitness and PetSmart. The property includes one primary mall building and five outparcel buildings …
Abington, Kingston and Orleans, Mass. — Atlantic Capital Partners, a division of Atlantic Retail, has arranged the $84.2 million sale of three shopping centers located on the southern outskirts of Boston. The properties in Abington, Kingston and Orleans are all anchored by grocers and were collectively 97 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
Marietta, Ga. — North American Properties (NAP) has gained unanimous approval from the Cobb County Board of Commissioners for its redevelopment plan of the Avenue East Cobb, an open-air shopping center located in the northeast Atlanta suburb of Marietta. Plans call for a portion of the central building near Kale Me Crazy to be demolished to make way for an 8,000-square-foot area called The Plaza that will be surrounded by restaurants with patios. The Plaza will feature a covered, raised stage for performances; an LED screen for broadcasting live events; …
Euless, Texas — JLL has negotiated the sale of Glade Parks Town Center, a 559,457-square-foot retail power center located in the eastern Dallas suburb of Euless. Built in phases between 2014 and 2018, the property houses tenants such as Dick’s Sporting Goods, Total Wine & More, Cinepolis, Ulta Beauty, Belk, Michael’s, HomeGoods, EoS Fitness, First Watch, Hopdoddy, Daiso, Old Navy, Burlington, DSW and Massage Envy. Barry Brown, Chris Gerard, Ryan Shore, Greyson Fewin and Matthew Barge of JLL represented the seller, a joint venture led by Iron Point Partners, in …
