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Rolling Hills Square
ArizonaInvestment salesNews

Portal Investment Buys 114,102-Square-Foot Rolling Hills Square Retail Center in Tucson

by Julia Sanders

Tucson, Ariz. — An affiliate of Los Angeles-based Portal Investment Management has purchased Rolling Hills Square, a grocery-anchored shopping center located in Tucson. Cincinnati-based Phillips Edison & Co. sold the property for an undisclosed price. Situated on 12.3 acres at the southwest corner of Kolb and Golf Links roads, Rolling Hills Square features 114,102 square feet of retail space. At the time of sale, the property was 96.2 percent occupied with Fry’s Food & Drug as the anchor tenant. Michael Hackett and Run Schubert of Cushman & Wakefield in Phoenix …

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Brookhurst & Warner
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Arranges $17.5 Million Sale of Mixed-Use Redevelopment Site in Orange County

by Julia Sanders

Fountain Valley, Calif. — Faris Lee Investments has brokered the sale of a five-acre mixed-use redevelopment site known as Brookhurst & Warner in the Orange County community of Fountain Valley. An undisclosed buyer acquired the site for $17.5 million. Rick Chichester, Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the undisclosed seller in the deal.

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Freys Hill Retail Center
FinanceKentuckyNews

NorthMarq Secures $10.5 Million Acquisition Financing for Freys Hill Retail Center in Louisville, Kentucky

by Julia Sanders

Louisville, Ky. — NorthMarq has secured $10.5 million in acquisition financing for Freys Hill Retail Center, a 58,726-square-foot retail property located at 10220 Westport Road in Louisville. The fully-occupied center is anchored by PetSmart and home to tenants including Half Price Books, Party City and Starbucks Coffee. The fixed rate loan was structured with a 10-year term on a 25-year amortization schedule with two years interest-only. Randall Waddell of NorthMarq arranged financing for the buyer, Compass Capital LLC of Lexington, through its relationship with a local bank.

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Chesterbrook Shopping Center
Investment salesNewsVirginia

KLNB Arranges Sale of 89,625-Square-Foot Chesterbrook Shopping Center in McLean, Virginia

by Julia Sanders

McLean, Va. — KLNB has arranged the sale of Chesterbrook Shopping Center in McLean. Vito Lupo, Andy Stape and Jake Furnary of KLNB’s investment sales team represented the seller, Chesterbrook One LLC, and worked with the buyer, Federal Realty Investment Trust. Federal Realty Investment Trust was also the center’s existing property manager and had a long-standing relationship with ownership. The sale’s price was not disclosed. Located at 6244 Old Dominion Drive, Chesterbrook Shopping Center has been anchored by Safeway since 1965. Additional tenants at the 89,625-square-foot shopping center include Walgreens, …

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PopStroke
LeasingNewsTexas

PopStroke Entertainment to Open Golf Venue at Katy Grand in Houston

by Julia Sanders

Houston — PopStroke Entertainment Group, a Florida-based golf concept, will open a new venue at Katy Grand, a Cinemark-anchored retail power center in Houston that is owned by NewQuest Properties. The venue will feature two 18-hole mini-golf courses conceived by TGR Design, an architecture firm backed by golf legend Tiger Woods. The concept includes a full-service restaurant and bar, ice cream parlor, outdoor games and a playground. Heather Nguyen and Rebecca Le internally represented NewQuest in the lease negotiations. PopStroke currently has two facilities in Port Saint Lucie and Fort …

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LeasingNewsNorth Carolina

Crate & Barrel to Open at Asheville Outlets in North Carolina

by Julia Sanders

Asheville, N.C. — Home furnishings retailer Crate & Barrel is set to open a new outlet store at Asheville Outlets in North Carolina. Crate & Barrel Outlet offers contemporary and modern furniture, housewares, décor, entertaining items and kitchen accessories. This new location, set to open during the summer, will be one of 18 Crate & Barrel Outlet stores in the country. Developed by New England Development, Asheville Outlets offers over 70 retailers and restaurants at the intersection of I-40 and I-26 at Brevard Road in Asheville.

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Fred Meyer
CaliforniaInvestment salesNews

Institutional Property Advisors Brokers Sale of 28-Property Fred Meyer Portfolio in Pacific Northwest

by Julia Sanders

Los Angeles — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale-leaseback of a 28-property portfolio of net-leased Fred Meyer stores in the West. While the price was not disclosed, Marcus & Millichap’s research department claims that the sale is the largest retail transaction since the beginning of the COVID-19 pandemic. The Fred Meyer portfolio is located in Shoreline, Bellingham, Everett, Lynnwood, Longview, Vancouver, Puyallup, Richland and Tacoma, Washington; Eugene, Salem, Albany, Beaverton, Corvallis, Portland, Medford, Oregon City, Roseburg, Springfield, The Dalles and Tualatin, Oregon; …

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Gateway Market Center
DevelopmentFloridaNews

InvenTrust to Redevelop 231,058-Square-Foot Gateway Market Center in Tampa Bay Area

by Julia Sanders

St. Petersburg, Fla. — InvenTrust Properties Corp. will redevelop Gateway Market Center, a 231,058-square-foot shopping center in the Tampa Bay area anchored by Target and Publix. The property is located at 7751-8229 9th St. N in St. Petersburg. Construction is scheduled to begin in the first quarter of 2022 with the renovation taking approximately 18 months to complete. InvenTrust’s improvements to Gateway Market Center will include the demolition of approximately 60,000 square feet of existing building area and the construction of several new buildings. Two new anchor-sized buildings will be …

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Lazy Acres
CaliforniaDevelopmentNews

CGI+, Megdal Investments to Develop 31,000-Square-Foot Lazy Acres Market in Los Angeles

by Julia Sanders

Los Angeles — CGI+ Real Estate Investment Strategies, in partnership with Megdal Investments, has acquired the third and final piece of a 1.7-acre land assembly at the southwest corner of Franklin and Western Avenues in Los Angeles’ Los Feliz neighborhood. The single-tenant, 24,000-square-foot property, which Rite Aid formerly occupied, will be redeveloped into 31,000-square-foot Lazy Acres Market, a division of Good Food Holdings. The organic grocery store signed a long-term lease with CGI+. The new store is scheduled to open by year’s end. CGI+ has started renovations and redevelopment, which …

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FinanceIllinoisInvestment salesNews

Stream Capital Partners Arranges $29 Million Sale-Leaseback of Texas Restaurant Portfolio

by Julia Sanders

Chicago — Chicago-based Stream Capital Partners LLC has arranged a $29 million sale-leaseback of a portfolio of nine quick service restaurants located throughout Texas. Palenque Group, which operates 34 restaurants throughout the state under the Taco Palenque, Pollo Palenque and Palenque Grill brands, was the seller and will continue to occupy the properties. The buyer was not disclosed. Chelsea Mandel of Stream Capital Partners brokered the deal.

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