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DevelopmentNew MexicoNews

Connell Underway on $400 Million Mixed-Use Redevelopment in Berkeley Heights, New Jersey

by Katie Sloan

Berkeley Heights, N.J. — New Jersey-based developer The Connell Company is underway on The Park, a $400 million mixed-use redevelopment project in the Northern New Jersey community of Berkeley Heights. The development spans 185 acres and will feature office, hospitality, residential and retail uses, as well as a network of jogging and nature trails, upon completion in 2023. Connell is set to begin construction this year of The District, a phase that will include some 300 apartments, as well as retail and entertainment space. The previous phase featured office space that …

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IllinoisInvestment salesNews

Boulder Group Brokers $3.9 Million Sale of Walgreens-Occupied Property in Skokie, Illinois

by Katie Sloan

Skokie, Ill. — The Boulder Group has brokered the $3.9 million sale of a Walgreens-occupied property in Skokie. The single-tenant, net-leased building is located at 9150 Skokie Blvd and spans 11,837 square feet. The Walgreens lease expires in 2024. Randy Blankstein and John Feeney of Boulder represented the seller, a Midwest-based individual. A West Coast-based real estate fund was the buyer.

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ArizonaInvestment salesNews

Newmark Negotiates $5.2 Million Sale of Shops at Tuscano in Phoenix

by Katie Sloan

Phoenix — Newmark has arranged the sale of Shops at Tuscano, a shopping center located in Phoenix. Shrisha LLC sold the property to TDN Properties for $5.2 million. Located at 7435 W. Lower Buckeye Road, the retail center features 15,938 square feet of multi-tenant space. At the time of sale, the property was 93 percent occupied by seven tenants, including Sprint/T-Mobile, Little Caesars and TitleMax. The shopping center was built in 2006. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller in the transaction.

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Investment salesNew JerseyNews

JLL Brokers $16.4 Million Sale of Retail Building Leased to Home Depot in Bloomfield, New Jersey

by Katie Sloan

Bloomfield, N.J. — JLL has brokered the sale of a 128,715-square-foot, single-tenant retail building in the Northern New Jersey community of Bloomfield that is triple-net leased to The Home Depot on a long-term basis. Home Depot has occupied the property, which sits on an 11-acre tract adjacent to the Garden State Parkway, since 1994. Benderson Development purchased the asset from New York-based Acadia Realty Trust for $16.4 million. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Oliver, Steve Simonelli and Jordan Altman of JLL brokered the deal

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IndianaInvestment salesNews

Stan Johnson Co. Brokers $4.9 Million Sale of Stafford Crossing Shopping Center in Metro Indianapolis

by Katie Sloan

Plainfield, Ind. — Stan Johnson Co. has brokered the sale of Stafford Crossing in Plainfield for $4.9 million. The 26,000-square-foot shopping center is located at 2230 Stafford Road. It was built in 2007 and sits on nearly four acres. The center was 91 percent leased to nine tenants at the time of sale. Anchor tenant Chicago’s Pizza recently executed a long-term lease extension. Blaise Bennett and BJ Feller of Stan Johnson represented the seller, a locally based developer. An Indiana-based private investor purchased the asset.

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Investment salesMassachusettsNews

JLL Arranges $33.5 Million Refinancing for Metro Boston Shopping Center

by Katie Sloan

Saugus, Mass. — JLL has arranged a $33.5 million loan for the refinancing of Saugus Plaza Shopping Center, a 208,500-square-foot retail power center in the northern Boston suburb of Saugus. The property spans 16 acres along Route 1 and houses tenants such as Petco and Kohl’s. John Fowler, Chris Angelone, Brett Paulsrud and Amy Lousararian of JLL placed the fixed-rate loan through HarborOne Bank and Salem One on behalf of the borrower, locally based development and management firm Finard Properties.

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Investment salesNewsWisconsin

Colliers Arranges $23.5 Million Sale of Whole Foods-Occupied Property in Milwaukee

by Katie Sloan

Milwaukee — The Wisconsin investment services team of Colliers International has arranged the sale of a Whole Foods Market-occupied property in Milwaukee for $23.5 million. The sales price represents a cap rate of 5.5 percent. Located at 2305 N. Prospect Ave., the 53,875-square-foot store is part of the commercial space at Prospect Medical Commons. Adam Connor of Colliers represented the seller, a Seattle-based private investor. California-based ExchangeRight Real Estate LLC purchased the asset as part of a 1031 exchange.

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Company newsGeorgiaNews

Chicken Salad Chick to Relocate Corporate Headquarters to Atlanta

by Katie Sloan

Atlanta — Chicken Salad Chick, a Southern-inspired, fast-casual chicken salad restaurant chain, will relocate its headquarters from Auburn, Alabama, to Atlanta. The move is slated to take place during the first quarter. Chicken Salad Chick’s new office will be located in the city’s Vinings district at the Overlook II building, which is situated at 2839 Paces Ferry Road in Atlanta. The company’s new office is 21 miles north of the Hartsfield-Jackson Atlanta International Airport. Scott Deviney, president and CEO of Chicken Salad Chick, says the company’s decision to move to Atlanta is …

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ALDI
Company newsFloridaNews

Aldi to Open 100 New Grocery Stores in 2021 Coast-to-Coast

by Katie Sloan

Batavia, Ill. — Aldi, a discount grocer based in Essen, Germany, is continuing its nationwide expansion with 100 new stores to open this year. The grocer plans to grow its footprint in select markets in Arizona, California, Florida and the Northeast U.S. Aldi also plans to add curbside pickup service to 500 additional stores this year, bringing its total number of stores with curbside options to 1,200. Nearly all U.S. Aldi locations offer delivery services through its partnership with Instacart. Additionally, today marks the groundbreaking of Aldi’s 564,000-square-foot distribution center …

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GeorgiaInvestment salesNews

Franklin Street Brokers $19.3 Million Sale of Kroger-Anchored Center in Suburban Atlanta

by Katie Sloan

Lawrenceville, Ga. — Franklin Street has brokered the $19.3 million sale of River Exchange, a 263,651-square-foot shopping center located in the Atlanta suburb of Lawrenceville. River Exchange is anchored by Kroger and home to tenants including Goodwill, Farmers Home Furniture, Metro by T-Mobile, Citi Trends, Habitat for Humanity ReStore, Hertz, Cato and One Main Financial. John Tennant and Bryan Belk of Franklin Street represented the seller, Monarch Investments, in the disposition of the property to America’s Realty, LLC.

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