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Magnolia Tyler Center
CaliforniaInvestment salesNews

Merlone Geier Partners Acquires Value-Add Shopping Center in Inland Empire for $39.4 Million

by Julia Sanders

Riverside, Calif. — Merlone Geier Partners has purchased Magnolia Tyler Center, a value-add shopping center located at 3650-3790 Tyler St. in the Inland Empire community of Riverside. A private family, which owned the property for more than 50 years, sold the center for $39.4 million. At the time of sale, the 182,653-square-foot property was 83 percent leased. Tenants include Aldi, Bob’s Discount Furniture, Big Lots, Bed Bath & Beyond, Starbucks Coffee, Olive Garden and America’s Tire. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets represented the seller in …

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Delray Beach Market
DevelopmentFloridaNews

Menin to Open 150,000-Square-Foot Delray Beach Market in Delray Beach, Florida

by Julia Sanders

Delray Beach, Fla. — Menin is set to open Delray Beach Market, a 150,000-square-foot food hall and retail center located in Delray Beach. The property will feature over 25 local and regional eateries, a rotating roster of pop-up vendors, bars, outdoor seating and a show kitchen. Delray Beach Market will also offer dining and creative food incubators, a beverage program, food trucks, art exhibitions and programming including live music shows, culinary classes and curated events. Restaurants on the ground floor will include Sorella’s, an artisanal pasta house by chef Jimmy …

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Investment salesNewsTexas

Big V Property Group Acquires 1-Million-Square-Foot RIM Shopping Center in San Antonio

by Julia Sanders

San Antonio — Big V Property Group has acquired The RIM Shopping Center, a 1 million-square-foot retail and restaurant destination in San Antonio. Big V acquired the property, which is part of a larger mixed-use development, in partnership with New York-based Kimco Realty and San Diego-based Equity Street Capital. The seller and sales price were not disclosed. Big V will also manage the property.

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LeasingNewsPennsylvania

ShopRite to Open 73,000-Square-Foot Grocery Store in Matamoras, Pennsylvania

by Julia Sanders

Matamoras, Pa. — ShopRite will open a 73,000-square-foot grocery store within the former Kmart building at Westfall Town Center in Matamoras, located along the New Jersey-Pennsylvania border. The opening is scheduled for this fall. Metro Chicago-based CenterPoint Properties owns Westfall Town Center. Derek Zerfass and Scott Horner of Colliers International brokered the deal. An undisclosed user is also set to occupy 25,000 square feet within the former Kmart store beginning this fall.

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Investment salesNew HampshireNews

JLL Negotiates $11.5 Million Sale of Retail Building in Franklin, New Hampshire

by Julia Sanders

Franklin, N.H. — JLL has negotiated the $11.5 million sale of a 51,230-square-foot retail building leased to Hannaford Supermarket in Franklin, located north of Manchester. The grocer has occupied the 11.5-acre property, which has the capacity to support 13,000 square feet of new development, for 30 years and recently extended its lease. Nat Heald and Chris Angelone of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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Company newsNewsOhio

Phillips Edison & Co. Files Registration to Pursue Public Offering

by Julia Sanders

Cincinnati — Phillips Edison & Co. Inc. (PECO) has filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission for a proposed public offering in conjunction with the listing of its stock on a national stock exchange. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The Cincinnati-based retail REIT intends to list its stock under the ticker symbol “PECO.” Morgan Stanley & Co. LLC, BofA Securities and J.P. Morgan Securities LLC will be acting …

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Pinnacle at Tutwiler Farm
AlabamaInvestment salesNews

JLL Brokers Sale of 248,988-Square-Foot Shopping Center in Metro Birmingham

by Julia Sanders

Trussville, Ala. — JLL Capital Markets has brokered the sale of Pinnacle at Tutwiler Farm, a 248,988-square-foot regional shopping center in Trussville, a suburb of Birmingham. Brad Buchanan, Jim Hamilton, Will Sledge, Tom Hall and Taylor Callaway of JLL marketed the property in coordination with online auction platform Ten-X on behalf of the sellers, Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates and Series 2007-C1. The undisclosed buyer was a private investor based out of Texas. The sales price was not disclosed. The Pinnacle at Tutwiler Farm …

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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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