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DevelopmentGrocery-anchoredInvestment salesMixed-useNewsVirginia

SLN Brokers $16 Million Sale of Development Parcel in Midlothian, Virginia

by Abby Cox

Midlothian, Va. — S.L. Nusbaum Realty Co. (SLN) has brokered the $16 million sale of a 13-acre development parcel located in Midlothian, roughly 14 miles outside Richmond. Larry Agnew and Andrew Thacker of SLN represented the buyer, SJC Ventures, in the transaction. SJC Ventures plans to develop Midlothian Depot, a mixed-use project, at the site. Upon completion, the development will feature a specialty grocer, retail and restaurant space, residential units, multi-modal pathways, green spaces and a dog park. Site work will begin in fall 2025, with vertical construction scheduled to …

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ArizonaGrocery-anchoredInvestment salesNews

Flying Horse Investments Acquires 53,630-Square-Foot Retail Center in Metro Phoenix

by Abby Cox

Mesa, Ariz. — Flying Horse Investments (FHI) has acquired Fiesta Palms Shopping Center, a 56,630-square-foot retail center located in Mesa, roughly 20 miles outside Phoenix. A specialty grocer anchors the property, which was 83 percent leased at the time of sale. 1st Century Bank, a division of MidFirst Bank, provided acquisition financing, and Justin Weissman of 1st Century Bank arranged the bridge loan on behalf of the buyer. A local family was the seller. FHI plans to collaborate with Pegasus Capital Markets to secure permanent financing for the property.

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Food-Hive
Company newsLeasingMassachusettsNews

Sodexo to Open 100 Food Hive Stores at College Campuses

by Abby Cox

Bethesda, Mass. — Food services provider Sodexo has announced plans to have roughly 100 Food Hive stores open at colleges and universities throughout the U.S. by 2026. Sodexo is currently underway on its previously announced plans to open approximately 30 campus stores during the 2024-2025 academic year. The Food Hive concept is designed as a cashless convenience store, with a focus on products from local, minority and women-owned businesses. Universities and colleges with open or planned Hive stores include Morehouse College, University of Illinois Chicago, Northern Arizona University, Texas Christian …

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CaliforniaInvestment salesNewsRestaurants

Progressive Arranges $2.5 Million Sale of Restaurant Building in Montclair, California

by Abby Cox

Montclair, Calif. — Progressive Real Estate Partners has arranged the $2.5 million sale of a restaurant building located in Montclair, roughly 35 miles east of downtown Los Angeles. Built in 1981, the 6,200-square-foot property was previously occupied by Red Lobster, which closed in 2024. The building is situated on an outparcel of Montclair Place, a 1.2 million-square-foot shopping center. Paul Galmarini of Progressive and Jereme Snyder of Colliers represented the seller, a private investor, in the transaction. Cristina Hsiech of SVN represented the undisclosed local buyer, which plans to renovate …

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DevelopmentFinanceFloridaMixed-useNews

Terra Receives $291 Million Financing Package for Centro City Mixed-Use Development in Miami

by Hayden Spiess

Miami — Development firm Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use development located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story multifamily buildings that house 470 market-rate apartment units. JVP Management issued a $187 million loan for the development’s multifamily component, with Hudson Bay Capital issuing a $104 million loan for the retail portion. The funds will be used to pay off …

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Company newsInvestment salesNewsNorth Carolina

Variety Wholesalers to Acquire 200 to 400 Big Lots Stores

by Hayden Spiess

Henderson, N.C. — Variety Wholesalers Inc. has announced plans to acquire between 200 and 400 Big Lots stores, in the midst of the retailer’s bankruptcy proceedings. North Carolina-based Variety Wholesalers will acquire the stores, which it will operate under the Big Lots brand, through Gordon Brothers Retail Partners. Gordon Brothers has entered into a sale transaction with Big Lots that will enable the transfer of assets — including stores, distribution centers and intellectual property — to other retailers and companies, including Variety Wholesalers.  Big Lots first filed for Chapter 11 bankruptcy …

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Shops-Olive-Place_Albemarle-N.C
Investment salesNewsNorth Carolina

Legacy Brokers $19 Million Sale of Shopping Center in North Carolina

by Hayden Spiess

Albemarle, N.C. — Legacy Realty Group Advisors has brokered the $19 million sale of Shops at Olive Place, a shopping center located in Albemarle. Tenants at the property, which totals 157,400 square feet, include Hobby Lobby, T.J. Maxx, Ross Dress for Less, Kay Jewelers and Mattress Firm. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the off-market transaction. 

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Investment salesNewsTexas

Rainier Cos. Brokers Sale of 145,819-Square-Foot Shopping Center in San Antonio

by Hayden Spiess

San Antonio — The Ranier Cos. has brokered the sale of San Antonio Crossing, a 145,819-square-foot shopping center located in San Antonio. The property was fully leased at the time of sale to tenants including Academy Sports & Outdoors, Burlington, Half Price Books, Starbucks Coffee and Torchy’s Tacos. Marcus & Millichap represented the undisclosed buyer in the transaction.

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DevelopmentGrocery-anchoredInvestment salesNewsWashington

SimonCRE Acquires 89,002-Square-Foot Retail Center in Washington, Plans Redevelopment 

by Hayden Spiess

Spanaway, Wash. — SimonCRE has acquired an 89,002-square-foot retail center located in Spanaway, with plans to redevelop the property. Plans for the center include the addition of a grocery anchor, as well as other new tenants. According to SimonCRE, redevelopment efforts at the property will be focused on updating existing structures. 

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