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Zinfandel Crossings
CaliforniaInvestment salesNews

Hanley Investment Completes Break-up Sale at Zinfandel Crossings Shopping Center in Rancho Cordova, California

by Julia Sanders

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has arranged the fourth and final transaction in the break-up sale strategy of Zinfandel Crossings, a retail property anchored by 99 Cents Only in Rancho Cordova. The firm has brokered the sales of more than $11.4 million in retail properties at the shopping center. Kevin Fryman, Bill Asher and Ed Hanley of Hanley Investment Group represented the seller, a Santa Monica-based private investor. The buyer was a Stockton, California-based private investor. The final sale was that of a vacant 26,520-square-foot …

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FinanceInvestment salesNewsTexas

NorthMarq Arranges $3.8 Million Acquisition Loan for Louetta Creek Plaza in Metro Houston

by Julia Sanders

Spring, Texas — NorthMarq has arranged a $3.8 million acquisition loan for Louetta Creek Plaza, a 26,472-square-foot retail center in the northern Houston suburb of Spring. Tenants at the property include State Farm, Snowflake Donuts, Expro Nails, Leslie’s Pool Supplies and Pizza Zone. Travis Fite of NorthMarq arranged the fixed-rate loan through life company StanCorp on behalf of the undisclosed borrower. The seller was also not disclosed.

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Ruccio Pavilion
Investment salesKentuckyNews

NAI Isaac Brokers Sale of 17,649-Square-Foot Shopping Center in Lexington, Kentucky

by Julia Sanders

Lexington, KY. — NAI Isaac has brokered the sale of Ruccio Pavilion, a 17,649-square-foot shopping center located at 220 Ruccio Way in Lexington. Al Isaac and Jim Holbrook of NAI Isaac represented the seller, Legacy Investments LLC, in the transaction. John Bunch of SVN Stone represented the buyer, an entity doing business as Ruccio Shoppes LLC. The sales price was not disclosed. Ruccio Pavilion is home to tenants including Mr. Brews Taphouse, Commonwealth Dentistry, Aqua-Tots Swim School, Thomas Sewing Center and Cuts & Paste Craft Studio. The property is shadow-anchored …

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Publix
Investment salesNewsSouth Carolina

IPA Arranges $18.2 Million Sale of Publix-Anchored Market at Standing Springs in Upstate South Carolina

by Julia Sanders

Simpsonville, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $18.2 million sale of Market at Standing Springs, a 63,883-square-foot, Publix-anchored shopping center in Simpsonville. Zach Taylor of IPA’s Taylor-McMinn Retail Group represented the seller, Carolina Holdings, and the buyer, C.F. Smith Property Group. The buyer is a family office completing a 1031 exchange, according to Taylor. Completed in 2021, Market at Standing Springs is located at the intersection of West Georgia and East Standing Springs roads near Interstate 385. The tenant roster includes …

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3131 M Street
Investment salesNewsWashington DC

SRS Brokers Sale of Levain Bakery Property in Washington, D.C. for $8.3 Million

by Julia Sanders

Washington, D.C. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.3 million sale of a single-tenant, 3,250-square-foot property leased to Levain Bakery at 3131 M Street NW in Washington, D.C. This is the first out of New York City expansion for Levain Bakery. The property was sold for just over $2,538 per square foot. Rick Fernandez and Andrew Fallon of SRS National Net Lease Group represented the seller and buyer, both being a local real estate investor.

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LeasingNew JerseyNews

Levin Management Negotiates Four Lease Renewals for Dollar Tree in New Jersey, Pennsylvania

by Julia Sanders

North Plainfield, N.J. — Levin Management Corp. has negotiated four lease renewals for Virginia-based discount retailer Dollar Tree in New Jersey and Pennsylvania. The New Jersey locations include a 14,500-square-foot space at Brunswick Shopping Center, a 10,300-square-foot shop in Watchung and a 9,400-square-foot store in Franklin Township. The Pennsylvania location is situated in Middletown and spans 9,000 square feet.

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Village Plaza
Company newsNew YorkNewsTexas

Retail REIT Kimco Realty to Acquire Weingarten Realty Investors for $3.9 Billion

by Julia Sanders

Jericho, N.Y. and Houston — Kimco Realty Corp. (NYSE: KIM) has announced plans to acquire fellow retail REIT Weingarten Realty Investors (NYSE: WRI) for roughly $3.9 billion. The combined company is expected to have a pro forma equity market capitalization of $12 billion and a pro forma total enterprise value of $20.5 billion. The merger will create a national operating portfolio of 559 open-air, grocery-anchored shopping centers — one of the darlings of commercial real estate during the COVID-19 pandemic — and mixed-use assets comprising 100 million square feet of …

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McKinney Marketplace
Investment salesNewsTexas

Tabani Group Acquires 118,967-Square-Foot McKinney Marketplace in Metro Dallas

by Julia Sanders

McKinney, Texas — Tabani Group Inc. has acquired McKinney Marketplace, a 118,967-square-foot shopping center located in the Dallas suburb of McKinney. Built on 15.8 acres in 2000, McKinney Marketplace was 96 percent leased at the time of sale to tenants such as Kohl’s, Dollar Tree, Cato and Wendy’s. Chris Gerard, Adam Howells, Barry Brown, Ryan Shore, Greyson Fewin and Pauli Kerr of JLL represented the undisclosed institutional seller in the transaction.

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ArizonaDevelopmentNews

Thompson Thrift to Develop 95,000-Square-Foot Retail Project in Mesa, Arizona

by Julia Sanders

Mesa, Ariz. — Thompson Thrift Retail Group (TTRG) has acquired the first parcel of a 15-acre master-planned development in Mesa. When fully developed, the property will offer 95,000 square feet of retail space in a mix of freestanding and multi-tenant buildings. Whataburger, Backyard Taco, Black Rock Coffee and EOS Fitness have committed to the new project, the first phase of which is scheduled to open during the first quarter of 2022. At build-out, TTRG expects the development to have a total project cost in excess of $28 million.

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Publix
DevelopmentGeorgiaGrocery-anchoredNews

Publix to Occupy 42,514 Square Feet at Mixed-Use Project in Atlanta’s West Midtown

by Julia Sanders

Atlanta — Publix will occupy a 42,514-square-foot space within the second phase of The Interlock, a mixed-use development underway at the intersection of Ethel Street and Northside Drive in Atlanta’s West Midtown district. Demolition for the site will begin in May and vertical construction is expected to begin during fall 2022. S.J. Collins Enterprises is the landlord. Phase I of The Interlock is a nine-acre, mixed-use property located at 1115 Howell Mill Road N.W. The development includes 200,000 square feet of office space; 105,000 square feet of retail and restaurant …

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