Morgantown, Ky. — Newmark has arranged the $1.4 million sale of a single-tenant retail property leased to Advance Auto Parts in Morgantown. The 6,895-square-foot building was acquired by a private 1031 investor. Matt Berres, Samer Khalil and Karick Brown of Newmark’s Irvine, California, office represented the seller, an undisclosed private developer, and procured the buyer in cooperation with Newmark’s Joseph Steffner.
Singapore and Paramus, N.J. — Kingsmen Xperience, the U.S. location-based experienced focused subsidiary of Singapore-based Kingsmen Creatives Ltd. and Hasbro Inc. will be opening the first North American location of Nerf Action Experience and the world’s first Planet Playskool kids experience at Westfield Garden State Plaza in Paramus in 2023. Both indoor entertainment centers will feature multiple activity zones, food and beverage areas, and retail stores. The Nerf Action Xperience at Westfield Garden State Plaza will be over 25,000 square feet in size and is designed to bring the Nerf …
Warrington, Pa. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Shops at Valley Square, a 293,000-square-foot shopping center in Warrington, a northern suburb of Philadelphia. Built in 2007, the center consists of 89,447 square feet of office space and 203,701 square feet of retail space that houses tenants such as Ulta Beauty, Designer Shoe Warehouse, Bath & Body Works, Sleep Number and Eastern Mountain Sports. Food and beverage users include P.F. Chang’s, Panera Bread and Gran Rodeo Mexican Grill. Brad Nathanson of …
Dale City, Va. — Sterling Organization has sold Cheshire Station, a Safeway-anchored shopping center in the Washington, D.C., suburb of Dale City. Haverford Properties purchased the 105,054-square-foot shopping center for $29.1 million. Cheshire Station’s tenant roster includes Petco, AutoZone, GNC, Sprint, Starbucks Coffee, Sherwin-Williams and a Virginia ABC liquor store. CBRE brokered the transaction. Sterling sold the property along with Market at Opitz, another shopping center in Northern Virginia, for a combined sales price of $58.4 million.
Woodway, Texas — SHOP Cos. has negotiated the sale of Crossroads West Shopping Center, a 36,864-square-foot retail center in Woodway, a suburb of Waco. The property is situated adjacent to an H-E-B grocery store and was approximately 97 percent leased at the time of sale. Tim Axilrod of SHOP Cos. represented the seller, a Texas-based limited liability company, in the transaction. The buyer and sales price were not disclosed.
Plantation, Fla. — A partnership led by Beth Azor of Azor Advisory Services has announced plans to break ground on a Wawa convenience store at 100 Pine Island Road in Plantation. The development will be located adjacent to Midtown Plaza, a 6,400-square-foot center home to tenants including Starbucks Coffee, Chim Authentic Thai and Smoosh Cookies. The development has received city approval and is awaiting a building permit.
Islip, N.Y. — A public-private partnership between The Town of Islip, Suffolk County and JLL has unveiled plans for Midway Crossing, a $2.8 billion mixed-use project that will be located on Long Island. The Long Island Regional Planning Council approved the project, which will be the largest commercial or residential development on Long Island in the last 50 years, on the evening of Thursday, May 12. Midway Crossing will span approximately 2.7 million square feet across 179 acres. Plans currently call for a variety of uses, including life sciences, healthcare …
Marysville, Wash. — Crescit Capital Strategies has secured a $21.8 million fixed-rate bridge loan for the acquisition of a shopping center located in Marysville, roughly 34 miles north of Seattle. A private seller sold the center to a private buyer for an undisclosed price. Crescit originated the four-year loan with a one-year extension option. The lender was not disclosed. The grocery-anchored property features 220,000 square feet of retail space.
Zionsville, Ind. — Hanley Investment Group Real Estate Advisors has brokered the $3.1 million sale of a two-tenant retail center spanning 11,400 square feet in Zionsville, a northern suburb of Indianapolis. Named Zionsville Station, the property is located at 10615 Zionsville Road. Tenants include Hotel Tango Whiskey, a local whiskey brand, and Pampered Pooch Resort and Spa. Dylan Mallory of Hanley represented the seller, Jackson Investment Group. Forest Bender of Marcus & Millichap represented the buyer, a metro Indianapolis-based private investor.
Monroe and Newington, Conn. — Marcus & Millichap has brokered the sale of two Connecticut retail properties that are net leased to Walgreens for a combined price of $11.7 million. Both properties, which are located in Monroe and Newington, total approximately 15,000 square feet. Nick Geaneotes, Steve Garthwaite and Derrick Dougherty of Marcus & Millichap represented the sellers, both of which were limited liability companies, in the transactions. The trio also procured the undisclosed buyers. Susan Bands of Marcus & Millichap assisted in closing both deals as the broker of …
