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Suncrest Village
DevelopmentFloridaNews

InvenTrust Properties Corp. to Redevelop 93,358-Square-Foot Suncrest Village Shopping Center in Orlando

by Julia Sanders

Orlando, Fla. — InvenTrust Properties Corp. has unveiled plans to redevelop Suncrest Village, a 93,358-square-foot shopping center located at 10021-10115 University Blvd. in Orlando. Planned improvements to the center include replacement of the existing anchor building occupied by Publix with a larger prototype store to be constructed in the same location. Small-shop tenant facades at Suncrest Village will receive new paint, lighting, replacement of the mission tile roof, a new sign band on portions of the canopy, improved landscaping and green trellis areas with accent lighting. InvenTrust plans to employ …

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Investment salesKentuckyNews

Marcus & Millichap Arranges $5.6 Million Sale of a Four-Property Dollar General Portfolio in Kentucky

by Julia Sanders

Paintsville, Danville, Eastern and Girdler, Ky. — Marcus & Millichap has arranged the $5.6 million sale of a four-property Dollar General portfolio totaling 36,400 square feet. Darpan Patel, Dan Yozwiak and Matthew Johnson of Marcus & Millichap represented the seller, James Myers of Kentucky Lodging and Development, and secured the buyer, Harrimack Holdings Acquisitions LLC, in the transaction. Colby Haugness, also of Marcus & Millichap, assisted in closing the transaction. The portfolio includes four Dollar General locations throughout Kentucky. Properties are located at 1370 Euclid Ave. in Paintsville; 6595 Alum …

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Shopping Center
Investment salesNewsOhio

Joint Venture Acquires Two Shopping Centers in Ohio

by Julia Sanders

Springfield and Urbana, Ohio — A joint venture between Timber Development Corp. and Honey and Vinegar Realty has acquired two shopping centers located in Ohio. Acquisitions include Eastside Square, a 20,000-square-foot center shadow-anchored by a 205,000-square-foot Walmart Supercenter in Springfield, Ohio; and Urbana Commons, an 18,000-square-foot center shadow-anchored by a 185,000-square-foot Walmart Supercenter in Urbana, Ohio. Jack Cornell of SRS Real Estate Partners represented the seller in the transaction.

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Shepard Place
Investment salesNewsTexas

BH Properties Buys 361,780-Square-Foot Preston Shepard Place Shopping Center in Metro Dallas

by Julia Sanders

Plano, Texas — Los Angeles-based investment firm BH Properties has purchased Preston Shepard Place, a 361,780-square-foot shopping center in Plano. Originally built in 1995, the property houses tenants such as Marshalls, Burlington and Tuesday Morning. The 31-acre Shepard Preston Place was 55 percent leased at the time of sale. The seller and sales price were not disclosed.

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ColoradoInvestment salesNews

McWhinney, Prism Places Acquire 662,000-Square-Foot Foothills Mall in Fort Collins, Colorado

by Julia Sanders

Fort Collins, Colo. — A joint venture between McWhinney and Prism Places has purchased Foothills, a regional mall located on 63 acres at 215 Foothills Parkway in midtown Fort Collins. Totaling 662,000 square feet, the property includes a 128,000-square-foot Macy’s department store and originally opened as Foothills Fashion Mall in 1973. The acquisition includes all of the mall’s assets and buildings, with the exception of the parking structure and surface parking fields — which are owned by Foothills Metro District — and the Foothills Activity Center, which is owned by …

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Investment salesMissouriNews

Neyer Properties Purchases 400,000-Square-Foot Commercial Portfolio Across Cincinnati, St. Louis

by Julia Sanders

Cincinnati — Neyer Properties has purchased a nearly 400,000-square-foot commercial portfolio occupied by Watson’s in a sale-leaseback transaction. The purchase price was undisclosed. The four-building portfolio consists of three retail assets and one industrial property that are located in the Cincinnati, Florence, Dayton and St. Louis markets. The sale-leaseback will enable Watson’s to free up capital as it looks to expand in additional markets, according to Neyer. Keith Yearout of Newmark represented Watson’s, which is a pool, spa and furniture retailer based in Cincinnati.

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Investment salesNewsTexas

VOP Partners Buys 343,911-Square-Foot Village on the Parkway Retail Center in Metro Dallas

by Julia Sanders

Addison, Texas — VOP Partners LLC has purchased Village on the Parkway, a 343,911-square-foot retail center located in the northern Dallas suburb of Addison. Anchored by Whole Foods Market and AMC Theatres, the 32-acre center was originally built in 1981 and redeveloped in 2014. Other tenants include RA Sushi, Neighborhood Services, Yard House, Hopdoddy Burger Bar, Sidecar Social and Pie Tap. Barry Brown, Chris Gerard, Ryan Shore, Jason Jacobs and Matthew Barge of JLL represented the undisclosed seller in the transaction.

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Noble Town Center
Investment salesNewsPennsylvania

IPA Arranges Sale of 167,689-Square-Foot Noble Town Center in Metro Philadelphia

by Julia Sanders

Jenkintown, Pa. — Institutional Property Advisors has arranged the sale of Noble Town Center, a 167,689-square-foot shopping center located roughly 10 miles north of Philadelphia’s Center City district in Jenkintown. Brad Nathanson of IPA represented the seller in the transaction and procured the buyer, a joint venture between Paramount Realty Services and Edgewood Properties. Ross Dress for Less, Bed Bath & Beyond, PetSmart and Walgreens anchor the center, which was 64 percent occupied at the time of sale. The new ownership plans to lease two vacancies previously occupied by Stein …

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The Summit at Town Lake
GeorgiaInvestment salesNews

Continental Realty Corp. Acquires LA Fitness-Anchored Center in Metro Atlanta for $11.6 Million

by Julia Sanders

Woodstock, Ga. — Continental Realty Corp. has acquired The Summit at Towne Lake, a 59,772-square-foot shopping center anchored by LA Fitness in the Atlanta suburb of Woodstock, for $11.6 million. Bryan Belk of Franklin Street represented both the buyer and the seller, a joint venture between RCG Ventures and DRA Advisors, in the transaction. Constructed in 2009, the center is located at 2060 Eagle Drive within the Towne Lake master-planned community. The property is 98 percent occupied by tenants including Marco’s Pizza, Palm Beach Tan and Family Orthodontics. The approximately …

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Streetsboro Crossing
Investment salesNewsOhio

JLL Brokers Sale of Grocery-Anchored Retail Center in Suburban Cleveland for $10.5 Million

by Julia Sanders

Streetsboro, Ohio — JLL Capital Markets has brokered the sale of Streetsboro Crossing in suburban Cleveland for $10.5 million. Grocer Giant Eagle anchors the 89,436-square-foot retail center. Other tenants at the property, which was nearly 94 percent leased at the time of sale, include Pet Supplies Plus, Palm Beach Tanning, GNC, Great Clips and Sally Beauty. Completed in 1996 and renovated this year, the center is situated on 19.6 acres. Amy Sands, Clinton Mitchell, Kirstey Lein and Bill Poffenberger of JLL represented the seller, an affiliate of Chicago-based Pine Tree. …

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