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Germantown
Investment salesNewsTennessee

PEBB Enterprises Sells Germantown Village Square in Suburban Memphis for $35.5 Million

by Katie Sloan

Germantown, Tenn. — PEBB Enterprises has sold Germantown Village Square, a 199,142-square-foot mixed-use property located in the Memphis suburb of Germantown, for $35.5 million. The property includes 138,995 square feet of ground-floor retail space and 60,147 square feet of second-floor office space occupied primarily by West Clinic, a subsidiary of Baptist Memorial Health Services. Germantown Village Square was 90 percent occupied at the time of sale by tenants including TJ Maxx, DSW, Ulta Beauty, Old Navy and Five Below. The property was developed in 1975 at 7670 Poplar Ave. and …

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DevelopmentIndianaMallsNews

Park Development to Redevelop Vacant Mall in Central Indiana

by Katie Sloan

Logansport, Ind. — Park Development has unveiled plans to redevelop the vacant Logansport Mall in central Indiana into an open-air retail center named The Junction. Built in 1968, the mall has sat largely vacant for the past decade. Design plans by GEA Architects call for nearly 160,000 square feet of retail space along with three outlots. The Junction is shadow anchored by a Walmart Supercenter and Home Depot. Existing tenants Dollar Tree and Dunham’s Sports will also remain. Planet Fitness opened a new location last spring, Harbor Freight Tools is …

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Whole-Foods
Investment salesMarylandNews

Stan Johnson Co. Brokers $26.8 Million Sale of Whole Foods Market in Metro Baltimore

by Katie Sloan

Towson, Md. — Stan Johnson Co. has brokered the $26.8 million sale of a single-tenant retail building leased to Whole Foods Market in Towson, roughly 14 miles outside Baltimore. The 63,750-square-foot store anchors Towson Row, a mixed-use project by Greenberg Gibbons. Jason Maier of Stan Johnson represented the buyer, a private investor based in New York, in the acquisition of the property from an undisclosed, Maryland-based investor. The building was acquired in a 1031 exchange transaction. The property was built in 2021 and is situated on 4.3 acres, less than …

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BurgerFi-Ellisburg
DevelopmentLeasingNew JerseyNews

Three Tenants to Open at Ellisburg Shopping Center in Cherry Hill, New Jersey

by Katie Sloan

Cherry Hill, N.J. — Three new tenants are set to open at Ellisburg Shopping Center, a retail property developed by Federal Realty Investment Trust in Cherry Hill. New openings are set to include a 14,346-square-foot Wren Kitchens, set to open this winter; a 8,564-square-foot Adventure Kids Playcare, scheduled to open this fall; and a 3,000-square-foot BurgerFi restaurant, which will open on Sept. 7. Additional tenants at the center include Whole Foods Market, Buy Buy Baby and Restoration Hardware. 

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Rialto-Village-Rialto-CA
CaliforniaDevelopmentGrocery-anchoredNews

NewMark Merrill Cos. Breaks Ground on 96,011-Square-Foot Shopping Center in Rialto, California

by Katie Sloan

Rialto, Calif. — NewMark Merrill Cos. has broken ground on Rialto Village, a 96,000-square-foot shopping center in Rialto. Brian McDonald, Walter Pagel and Hannah Curran of CBRE, along with Greg Giacopuzzi of NewMark Merrill, are marketing the center for lease. Currently, 18 tenants are slated to join the project, which is located at the southwest corner of San Bernardino and Riverside avenues. Signed tenants include Sprouts Farmers Market, Burlington, Ulta Beauty, Five Below, Mattress Firm, Arrowhead Credit Union, Quick Quack Car Wash, In-N-Out Burger, Cold Stone Creamery, The Joint, Nekter Juice …

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Washington-Square_Georgetown
Investment salesKentuckyNews

Stan Johnson Co. Arranges $15 Million Sale of Washington Square Shopping Center in Georgetown, Kentucky

by Katie Sloan

Georgetown, Ky. — Stan Johnson Co. has arranged the $15 million sale of Washington Square, a 122,554-square-foot shopping center located at 1002 Lexington Road in Georgetown. Ryan Roedersheimer of Stan Johnson Co.’s Cincinnati office represented the seller, a Lexington-based investment firm, in the transaction. The buyer is a private investment firm based in Austin. Washington Square was built in 1972 and is situated on a heavily trafficked corner spanning 13.9 acres about 10 miles north of Lexington. The property was fully leased at the time of sale to tenants including anchor …

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IndianaInvestment salesNews

Marcus & Millichap Arranges $3.9 Million Sale of Retail Property in Suburban Indianapolis

by Katie Sloan

Zionsville, Ind. — Marcus & Millichap has arranged the $3.9 million sale of Whitestown Parkway in Zionsville, a northwest suburb of Indianapolis. Built in 2018, the 11,332-square-foot retail property is home to five tenants. Alex Perez and Chris Garavaglia of Marcus & Millichap brokered the transaction. Both the buyer and seller were limited liability companies.

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Bridgecore-Financing
FinanceGrocery-anchoredIndianaNews

BridgeCore Provides $2.6 Million Acquisition Financing for Vacant Grocery Property in Indianapolis

by Katie Sloan

Indianapolis — BridgeCore Capital has provided $2.6 million in acquisition financing for a vacant, single-tenant retail property located in Indianapolis. The asset was formerly occupied by an undisclosed grocery tenant. The financing features an 8.5 percent fixed interest rate, with a 12-month term at a 70 percent loan-to-purchase price. The borrower in the transaction was not released. 

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Westfield-Santa-Anita
CaliforniaInvestment salesMallsNews

Unibail-Rodamco-Westfield Sells Westfield Santa Anita Near Los Angeles for $537.5 Million

by Katie Sloan

Arcadia, Calif. — Unibail-Rodamco-Westfield (URW) has sold Westfield Santa Anita, a 1.5 million-square-foot regional mall located roughly 15 miles northeast of Los Angeles in Arcadia, for $537.5 million. The transaction represents the largest price paid for a regional mall in the U.S. since 2018, according to Eastdil Secured, which acted as financial advisor to the seller.  The buyer is an undisclosed real estate investor that owns other retail assets in Southern California. The acquisition was funded through a combination of equity and new debt, and reflects a sub-6 percent net initial yield …

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DiMucci
Grocery-anchoredIllinoisInvestment salesNews

Continental Realty Corp. Purchases Shopping Center Portfolio in Suburban Chicago for $93.6 Million

by Katie Sloan

Chicago — Continental Realty Corp. (CRC) has entered the Chicago market with its acquisition of a five-property shopping center portfolio for $93.6 million. The properties total more than 900,000 square feet of gross leasable area and are located in Cicero, Mount Prospect, Naperville and Palatine. Specifically, the properties include Cicero Marketplace in Cicero; Northwest and English Valley shopping centers in Palatine; Golf Plaza II in Mount Prospect; and Fox River Commons in Naperville. DiMucci Cos. was the seller. Tucker Development served as an acquisition and development consultant on the transaction. The portfolio …

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