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Kings Canyon Pavilion
CaliforniaInvestment salesNews

Wood Investments Cos. Acquires 99 Cents Only-Anchored Shopping Center in Fresno for $11.8 Million

by Julia Sanders

Fresno, Calif. — Wood Investment Cos. Inc. has acquired Kings Canyon Pavilion shopping center, a 152,354-square-foot retail center anchored by 99 Cents Only in Fresno, for $11.8 million. Built in 2007, the 91 percent-occupied property is situated at 4965 East Kings Canyon Road. By the close of escrow, Wood Investments had secured leases with Raising Cane’s Chicken Fingers and Dutch Bros. to occupy two new single-tenant pad buildings. Both tenants are expected to open in mid-2022. Current tenants at the property include O’Reilly Auto Parts, Cricket Wireless Authorized Retailer, Corina’s …

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Crossings at Wildlight
DevelopmentFloridaGrocery-anchoredNews

Sleiman Breaks Ground on 90,000-Square-Foot Publix-Anchored Shopping Center in Metro Jacksonville

by Julia Sanders

Yulee, Fla. — Sleiman Enterprises has broken ground on Crossings at Wildlight, a Publix-anchored shopping center located roughly 25 miles outside Jacksonville in Yulee. The retail center will offer the first grocery store in the community. Designed by Cuhaci & Peterson, the 90,000-square-foot project will include five single- or multi-tenant buildings and up to three outparcels. Sleiman is planning a grand opening for spring 2022. The shopping center will serve as a retail component within Wildlight, a master-planned development in Nassau County by Raydient Places + Properties.

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Heather Island Plaza
FloridaInvestment salesNews

CBRE Arranges Sale of 70,970-Square-Foot Heather Island Plaza in Ocala, Florida

by Julia Sanders

Ocala, Fla. — CBRE has arranged the sale of Heather Island Plaza, a 70,970-square-foot, Publix-anchored shopping center in Ocala. Built in 2000, the property is located at 7878 SE Maricamp Road and was 85 percent leased at the time of sale. CBRE represented the seller, a joint venture between Madison International Realty and SITE Centers Corp., in the transaction. The buyer, New Bandera Ventures, acquired the center for an undisclosed price.

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Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 26,318-Square-Foot Retail Center in Texas City, Texas

by Julia Sanders

Texas City, Texas — Marcus & Millichap has brokered the sale of Three Palms Retail Center, a 26,318-square-foot property in Texas City, located south of Houston. Gus Lagos, Alex Wolansky, Jacob Starr and Zuhare Rizvon of Marcus & Millichap represented the seller in the transaction. Riley Sharman, also with Marcus & Millichap, represented the buyer. Both parties were limited liability companies that requested anonymity.

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Shoppes on Route 31
IllinoisInvestment salesNews

Hanley Investment Group Arranges $4 Million Sale of Retail Pad Building in Metro Chicago

by Julia Sanders

Carpentersville, Ill. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of Shoppes on Route 31, an 11,035-square-foot multi-tenant retail property located roughly 42 miles outside Chicago in Carpentersville. Home Depot shadow-anchors the property, which is fully occupied by Panda Express, ATI Physical Therapy, Game Stop, a dental office, SportClips and T-Mobile. Brad Dessy of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, a private investor based in Arizona. Chuck Wasker of Colliers International represented the buyer, a private investor based in San …

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Northeast Heights
DevelopmentNewsWashington DC

Joint Venture Breaks Ground on $600 Million Northeast Heights Redevelopment in Washington, D.C.

by Julia Sanders

Washington, D.C. — A joint venture between Cedar Realty Trust (NYSE: CDR), Asland Capital Partners and the Goldman Sachs Urban Investment Group has broken ground on the first phase of Northeast Heights. The $600 million mixed-use office and retail development is located in the Minnesota and Benning submarket of Washington D.C.’s Ward 7 neighborhood. The property is located at 3924 Minnesota Ave. Construction has a completion date of late 2022 or early 2023. The first phase of Northeast Heights includes the construction of a 258,500-square-foot office building, as well as …

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Saks 5th Avenue
CaliforniaFinanceNews

Gantry Arranges $20 Million Recapitalization for Beverly Hills Saks 5th Avenue Location

by Julia Sanders

Beverly Hills, Calif. — Gantry has secured $20 million to recapitalize the signature Beverly Hills location of Saks 5th Avenue. The loan was originated with one of Gantry’s correspondent life insurance company lenders and secured on behalf of the private client property owner. Situated on Wilshire Boulevard, the property is a landmark location for the luxury retailer. Saks 5th Avenue men’s and bridal departments occupy the entire building, while the remaining departments are located in Saks’ separate building immediately east across Bedford Drive. The subject property also includes an adjacent …

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Burger King
Investment salesKentuckyLeasingNews

Bay Country Estates Purchases Burger King-Leased Property in Shepherdsville, Kentucky for $1.6 Million

by Julia Sanders

Shepherdsville, Ky. — Bay Country Estates has purchased a 34,484-square-foot retail property in Shepherdsville that is ground-leased to Burger King. An entity doing business as Dixie Hwy Development #3 LLC sold the property for $1.6 million. Carrols Corp. operates the Burger King location, which has 18.5 years remaining on its lease. The property is located at 315 Keystone Crossing Drive, about 20 miles south of Louisville. Jesse Limon of Marcus & Millichap’s Manhattan office represented the seller in the transaction. Jesse Limon and Colby Haugness of Marcus & Millichap’s Kentucky …

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Company newsMarylandNews

Under Armour’s First-Quarter Sales Exceed Analysts’ Estimates, Surpass Previous Year

by Julia Sanders

Baltimore — Athletic apparel giant Under Armour Inc. (NYSE: UA) has reported $1.3 billion in sales in its fiscal first quarter of 2021, a 35 percent jump from last year’s first-quarter sales. The Baltimore-based company’s fiscal first quarter ended on March 31. Under Armour’s earnings in the quarter totaled 16 cents per share, which far surpasses the 3 cents expected by analysts, according to CNBC. The company reported an increase of $1.26 billion in revenue from the $930.2 million recorded in the first quarter of 2020. Additionally, the brand’s net …

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Publix-anchored Shopping Center
DevelopmentGeorgiaNews

Branch Properties, Carter to Develop 87,000-Square-Foot Publix-Anchored Shopping Center in Atlanta

by Julia Sanders

Atlanta, Ga. — A joint venture between Branch Properties and Carter is set to break ground on an 87,000-square-foot grocery-anchored shopping center in the Atlanta neighborhood of Summerhill. The center will be anchored by a 50,000-square-foot Publix Supermarket and will feature a two-level parking deck. Leasing at the development, which is scheduled for completion in fall 2022, is currently underway with roughly 37,000 square feet of space available for a variety of retail or service tenants. Carter is currently redeveloping the surrounding 19-block area into a hub for retail, dining, …

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