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Grocery-anchoredInvestment salesNewsNorth Carolina

JLL Brokers Sale of 102,539-Square-Foot Shopping Center in Coastal North Carolina

by Hayden Spiess

Emerald Isle, N.C. — JLL has arranged the sale of Emerald Plantation Shopping Center, a 102,539-square-foot retail center located in Emerald Isle on the coast of North Carolina. Tom Kolarczyk of JLL represented the seller, Cameron Street Partners, in the $12 million transaction. Charlie Barzola of Eastern Commercial represented the undisclosed buyer. The shopping center, which is anchored by Food Lion, was 100 percent leased at the time of sale to tenants including Michelangelo’s Pizza, Shark’s Den Bar and Grill, Rucker John’s and Elly’s.

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Shops-Phillips-Circle_Lynchburg
Investment salesNewsRestaurantsVirginia

Cushman & Wakefield | Thalhimer Brokers $4.6 Million Sale of Retail Strip Center in Lynchburg, Virginia

by Hayden Spiess

Lynchburg, Va. — Cushman & Wakefield | Thalhimer has brokered the $4.6 million sale of Shops at Phillips Circle, a retail strip center located at 19399 Forest Road in Lynchburg. Built in 2018, the center was fully leased at the time of sale to tenants including Starbucks Coffee, East Coast Wings and Nothing Bundt Cakes. The Charles and Margaret Levin Family LP based in Washington, D.C., purchased the property from Riverbend Development. Catharine Spangler, John Pritzlaff and Jenny Stoner of Thalhimer represented the seller in the transaction.

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GeorgiaGrocery-anchoredInvestment salesNews

Sarofim Realty Advisors Sells 343,748-Square-Foot Plaza Fiesta Shopping Center in Atlanta

by Hayden Spiess

Atlanta — Sarofim Realty Advisors has sold Plaza Fiesta, a 343,748-square-foot retail center located on Buford Highway in northeast Atlanta. Chris Decoufle, Kevin Hurley, Matt Karempelis, Mike Burkard and Steve Shields of CBRE represented the seller in the transaction. Asana Partners acquired the property for an undisclosed price. Mercado Fresco anchors the plaza, which was 95 percent leased at the time of sale to tenants including Ross Dress for Less, Planet Fitness, Ollie’s and Aaron’s.  The property also includes a freestanding CVS/pharmacy and QuikTrip.

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DevelopmentGrocery-anchoredLeasingMarylandMixed-useNews

Trademark Completes Renovation of 2 Million-Square-Foot Mixed-Use Development in Annapolis

by Hayden Spiess

Annapolis, Md. — Trademark Property Co. has completed the renovation of Annapolis Town Center, a mixed-use development comprising 2 million square feet in Annapolis. Improvements to the property included the addition of green space and a new community gathering area called Green Village; a climate-controlled paseo for improved connectivity and walkability; improved signage and wayfinding; and art from local artists. Whole Foods Market and Target anchor the property, which is home to retailers including Anthropologie, Restoration Hardware and Paper Source. A number of new tenants are set to open within …

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ArizonaInvestment salesNews

Phoenix Commercial Advisors Arranges $22 Million Sale of The Pavilions Shopping Center in Mesa, Arizona

by Hayden Spiess

Mesa, Ariz. — Phoenix Commercial Advisors has arranged the $22 million sale of The Pavilions, a neighborhood retail center located in Mesa. At the time of sale, the 129,674-square-foot property was 96 percent leased. Current tenants include Great Clips, Banner Urgent Care, Native Grill & Wings, Over Easy and Villa Tuscana, a reception hall for weddings and other large events. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.

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Grocery-anchoredInvestment salesMaineNews

Horvath & Tremblay Brokers $13.5 Million Sale of Shopping Center in Rockland, Maine

by Hayden Spiess

Rockland, Maine — Horvath & Tremblay has brokered the $13.5 million sale of Harbor Plaza, a 169,079-square-foot shopping center located in Rockland on Maine’s southern coast. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller and procured the buyer, both undisclosed, in the transaction. Shaw’s Supermarket, HomeGoods and Staples anchor the center, which was 92.8 percent leased at the time of sale. Other tenants include Olympia Sports, Rent-A-Center, H&R Block, Label Shopper and The UPS Store.

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Grocery-anchoredIllinoisInvestment salesNews

Mid-America Arranges Sale of 87,846-Square-Foot Retail Center in Northern Illinois

by Hayden Spiess

Freeport, Ill. — Mid-America Real Estate Corp. has brokered the sale of Freeport Plaza, a shopping center located in Freeport. CRE Pro acquired the 87,846-square-foot property, which is anchored by a 62,000-square-foot Cub Foods. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, a publicly traded REIT. The center was 87 percent leased at the time of sale, and Cub Foods recently extended its lease to 2027.

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CaliforniaDevelopmentMallsMixed-useNews

DJM, PGIM Receive Approval for Mixed-Use Project at Bella Terra Shopping Center in Metro Los Angeles

by Hayden Spiess

Huntington Beach, Calif. — A partnership between DJM and PGIM has received approval for a mixed-use redevelopment project at Bella Terra, an 852,000-square-foot retail property located roughly 35 miles outside Los Angeles in Huntington Beach. Plans for the project, now approved by the Huntington Beach City Council, include the demolition of a 149,000-square-foot Burlington Coat Factory-occupied building and an adjacent 33,000-square-foot building. The partnership will replace the existing buildings with a low-rise structure featuring 25,000 square feet of ground-floor retail and restaurant space and five stories of residential space, comprising …

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Post-Commons-Melbourne-Fla
FloridaGrocery-anchoredInvestment salesNews

CrossMarc, MCB Acquire 202,050-Square-Foot Shopping Center in Melbourne, Florida

by Hayden Spiess

Melbourne, Fla. — A joint venture between CrossMarc Services LLC and MCB Real Estate — in partnership with Peaceable Street Capital — has purchased Post Commons, a 202,050-square-foot shopping center located in Melbourne. The property was 96 percent leased at the time of sale to tenants including Publix, which occupies 44,270 square feet; Beall’s; Pet Supermarket; Burlington; and Five Below. Marcus & Millichap represented the undisclosed seller in the transaction. Flavia Kanyago of CrossMarc will handle leasing at the center.

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Lake-Point-Commerce-Center-Orlando-Fla
FloridaInvestment salesNews

Albany Road Acquires 134,000-Square-Foot Retail Center Located in Orlando

by Hayden Spiess

Orlando, Fla. — Albany Road Real Estate Partners has purchased Lake Point Commerce Center, a 134,000-square-foot retail center in Orlando. Located near the Orlando International Airport, the property comprises six buildings and sits within Lee Vista Center, a mixed-use development. Lake Point was 98 percent leased at the time of sale to 19 tenants, including Flying Food Group. Patterson Real Estate Advisory Group secured financing on behalf of the buyer through Trustmark National Bank.

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