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HSBC
Company newsNew YorkNews

HSBC Sells 90 Branches, Exits Mass-Market Retail Banking Sector

by Julia Sanders

New York City — HSBC Holdings has announced plans to exit its U.S. mass-market retail banking business through the sale of 90 of its 148 domestic branches. HSBC will retain 20 to 25 of its existing physical locations in the U.S., which will be repurposed into international wealth centers. These branches will focus exclusively on the banking and wealth management needs of high-net-worth clients. These centers will be located in cities such as New York, Washington, D.C., San Francisco, Seattle, Los Angeles and Miami, according to reports by The Wall …

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Lincoln Road
FloridaInvestment salesNews

ALTO Real Estate Funds Purchases Lincoln Road Retail Property in Miami Beach for $18.9 Million

by Julia Sanders

Miami Beach, Fla. — ALTO Real Estate Funds has purchased a 7,142-square-foot retail property located in Miami Beach for $18.9 million. The property is situated along Lincoln Road, Miami Beach’s high street retail corridor. The seller was Gombinski Properties, who bought the property in 1985. Ran Ziv and Sean Shahar Ziv of GLT Group Brokerage represented the seller and the buyer. The property comprises two suites located at 900 and 904 Lincoln Road, at the corner of Jefferson Avenue. The corner building underwent a complete renovation in 2016 and now …

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Petsuites
GeorgiaInvestment salesNewsVirginia

SRS Brokers $10.6 Million Sale of Two Petsuites-Occupied Stores in Virginia, Georgia

by Julia Sanders

Newport News, Va. and Lawrenceville, Ga. — SRS Real Estate Partners’ National Net Lease Group has brokered the sales of two single-tenant retail properties for a combined $10.6 million. The properties are located in Newport News and Lawrenceville and were both built in 2020. Petsuites signed long-term, 20-year leases at both locations. Britt Raymond and Kyle Fant of SRS represented the seller, a North Carolina-based developer, in both 1031 exchange transactions. Both stores span 14,000 square feet. The Newport News location is located at 12533 Warwick Blvd. The property is …

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GeorgiaInvestment salesNew YorkNewsSouth Carolina

Valuerock Realty Acquires Three Net Lease Properties for $5.9 Million

by Julia Sanders

Irvine, Calif. — ValueRock Realty has acquired a property leased to CVS/pharmacy in Greenville, South Carolina, and two Chipotle Mexican Grill restaurants in Carrollton, Georgia, and Syracuse, New York for $5.9 million. The CVS/pharmacy property in Greenville was acquired for $2.06 million from an undisclosed New York-based individual. The tenant has 10 years remaining on its absolute, triple-net ground lease. The property leased to Chipotle Mexican Grill in Carrollton was acquired for $2.3 million from an undisclosed Georgia-based developer. The property triple-net-leased to Chipotle Mexican Grill in Syracuse was acquired …

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DevelopmentFloridaNews

Kite Realty Announces Updates to Theater at Delray Marketplace Center in Delray Beach, Florida

by Julia Sanders

Delray Beach, Fla. — Kite Realty Group Trust has announced planned updates for Delray Marketplace, a 260,000-square-foot open-air lifestyle center in Delray Beach. Paragon Theaters is set to occupy the center’s existing theater space, which will undergo renovations including the addition of luxury electric reclining seats, full-service in-theater dining and VIP box seating areas. An ‘Extreme Theater’ will also be added at the property, featuring a tilt screen and 4K-laser projection. The adjacent Penny Lanes Bowl & Games and Agency Kitchen & Bar will remain open during renovations, which are …

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Investment salesNewsPennsylvania

Colliers Negotiates Sale of 37,840-Square-Foot Retail Center in Hamburg, Pennsylvania

by Julia Sanders

Hamburg, Pa. — Colliers International has negotiated the sale of a 37,840-square-foot retail center located at 552 State St. in the Lehigh Valley city of Hamburg. Pennsylvania-based grocer Weis Markets anchors the center. Scott Horner and Derek Zerfass of Colliers represented the seller, private investor Linda King, in the transaction. The duo also procured the buyer, Sar & Co.

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Investment salesNewsTexas

Local Developer Sells 28,000-Square-Foot Riverstone Plaza Retail Center in Metro Houston

by Julia Sanders

Sugar Land, Texas — A local developer doing business as LJ Parkway LLC has sold Riverstone Plaza, a 28,000-square-foot retail center in the southwestern Houston suburb of Sugar Land. Built in 2018, the property was 98 percent leased at the time of sale to a roster of 16 tenants that includes salons, medical services, a learning center and restaurants. Marc Peeler of NewQuest Properties represented the seller in the transaction. Bob Yuanjie of Ping Management LLC represented the undisclosed, locally based buyer.

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The Link
DevelopmentNewsTexas

Stillwater Capital to Develop $1 Billion Mixed-Use Project at PGA of America Campus in Metro Dallas

by Julia Sanders

Frisco, Texas — Locally based developer Stillwater Capital has received zoning approval from the city council of Frisco, a northern suburb of Dallas, for the development of The Link, a 240-acre mixed-use project near PGA of America’s new 600-acre headquarters campus. The PGA of America’s role is to oversee professional golf and promote interest in the game. The Link will feature Class A office, luxury residential, destination retail, boutique hospitality and entertainment uses. The name of the development stems from the pedestrian promenade that connects the site to the PGA’s …

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Blue Back Square
ConnecticutInvestment salesNews

Joint Venture Acquires 450,000-Square-Foot Mixed-Use Property in West Hartford, Connecticut

by Julia Sanders

West Hartford, Conn. — Blue Back Capital Partners LLC, a joint venture between Greenwich, Connecticut-based Charter Realty & Development Corp. and Rialto Capital, has acquired Blue Back Square, a 450,000-square-foot mixed-use property in West Hartford. The property was built in 2006 and includes 215,000 square feet of retail, restaurant and entertainment space, as well as 200,000 square feet of office and medical office space. Retail anchor tenants include Crate & Barrel, Cinepolis Cinemas, West Elm and Barnes & Noble. The seller was Starwood Retail Partners, which purchased the property in …

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Piggly Wiggly
Investment salesNewsWisconsin

The Boulder Group Arranges $3.3 Million Sale of Piggly Wiggly Property in Watertown, Wisconsin

by Julia Sanders

Watertown, Wis. — The Boulder Group has arranged the $3.3 million sale of a single-tenant property net leased to Piggly Wiggly at 1330 Memorial Drive in Watertown. The 27,000-square-foot building is situated less than 2.5 miles from downtown Watertown and 50 miles from Milwaukee and Madison. The Piggly Wiggly lease expires on Dec. 31, 2029, and features three 5-year renewal options. Jimmy Goodman and John Feeney of The Boulder Group represented the seller, a Wisconsin-based individual, in the transaction. The buyer was an undisclosed Wisconsin-based investor.

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