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DevelopmentMixed-useNewsRetailersTexas

Lionstone to Renovate 1.4 Million-Square-Foot Mixed-Use Destination in Metro Houston

by Alex Tostado

Sugar Land, Texas — A development team by Houston-based Lionstone Investments will renovate Sugar Land Town Square, a 1.4 million-square-foot mixed-use destination located on the southwestern outskirts of Houston. Lionstone is partnering with Dallas-based creative real estate firm Rebees and Planned Community Developers on the project, which will upgrade landscaping and outdoor common areas to allow for social distancing and more public seating as part of Phase I. In addition, the team will add new signage and tenant storefronts and revamp the tenant roster to include local entrepreneurs with original …

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FinanceGrocery-anchoredNewsPennsylvaniaRetailers

JLL Arranges Acquisition Financing for 185,282-Square-Foot Shopping Center in Burnham, Pennsylvania

by Alex Tostado

Burnham, Pa. — JLL has arranged an undisclosed amount of acquisition financing for Greater Lewistown Plaza, a 185,282-square-foot, grocery-anchored shopping center located in the Central Pennsylvania town of Burnham. Grocer Weis is the anchor tenant at the 22-acre property, and other users include CVS, Dunham Sports, Goodwill and Rent-a-Center. Michael Klein and Claudia Steeb of JLL arranged the fixed-rate loan through AmeriServ Financial. The borrower, Logan GL Holdings LLC, plans to implement a capital improvement program.

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CaliforniaCompany newsNews

Design Firm RDC Opens San Diego Office, Names Sean Slater as Principal-in-Charge

by Alex Tostado

San Diego — Design firm RDC has opened an office in downtown San Diego. Long Beach, California-based RDC has named Sean Slater as principal-in-charge at the new office, which is located at 101 W. Broadway. “We are enthusiastic about San Diego, with its natural assets, human capital, and disposition toward continuing to evolve as a world leader in livable cities,” says Slater. “Currently, our firm’s San Diego portfolio would rank the new RDC office as among the largest design firms in the city.” RDC’s San Diego-area portfolio includes Horton, a …

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CaliforniaGrocery-anchoredInvestment salesNewsRetailers

SRS Negotiates $6 Million Sale of Grocery Outlet-Occupied Retail Property in Norco, California

by Alex Tostado

Norco, Calif. — SRS Real Estate Partners has brokered the sale of a single-tenant retail property located at 1428 Sixth St. in Norco. A family partnership acquired the asset from a local developer for $6 million. Grocery Outlet occupies the newly constructed, 18,000-square-foot building, which is situated on 1.7 acres. Grocery Outlet, which opened in March, is the anchor tenant for the new Norco Gateway Shopping Center. Additional tenants include Taco Bell and 6,000 square feet of future retail shops. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease …

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DevelopmentNewsRetailersTexas

Dick’s Sporting Goods to Open New Store at Copperfield Marketplace in Houston

by Alex Tostado

Houston — Pittsburgh-based Dick’s Sporting Goods will open a new, 45,198-square-foot store at Copperfield Marketplace, located at 16343 FM 259 Road in Houston. The grand opening will take place from Friday, Oct. 23 to Sunday, Oct. 25. Dick’s Sporting Goods will join Burlington and Med Express as the other anchors at the center, which is owned by Fidelis Realty Partners.

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Investment salesMichiganNewsRetailers

DealPoint Merrill Acquires Former Kroger Store in Sterling Heights, Michigan

by Alex Tostado

Sterling Heights, Mich. — DealPoint Merrill LLC has acquired a 69,275-square-foot former Kroger shopping center in Sterling Heights. The property sits on seven acres at the corner of Dequindre and 18 Mile roads. DealPoint Merrill plans to redevelop the center into a 138,000-square-foot development, but further details of the project were not disclosed. DealPoint Merrill’s CEO David Frank negotiated the transaction while the company’s president, Sterling McGregor, handled the due diligence and financing. The seller and purchase price were undisclosed.

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IllinoisInvestment salesNewsRetailers

JLL Arranges $2.7 Million Sale of Three-Tenant Retail Building Near Chicago

by Alex Tostado

South Holland, Ill. — JLL Capital Markets has arranged the $2.7 million sale of a three-tenant retail building in South Holland near Chicago. The 5,000-square-foot property is home to Chipotle, JJ Fish & Chicken and an unnamed corporate wireless provider. Alex Sharrin, Alex Geanakos and Eric Cline of JLL represented the seller, Glazier Corp., which is a local Chicago developer. A Southern California-based private investor purchased the asset.

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DevelopmentNew YorkNewsRetailers

Target to Open 130,000-Square-Foot Store at Former Sears Location in Yonkers, New York

by Alex Tostado

Yonkers, N.Y. — Target will open a 130,000-square-foot store at Cross County Center, a 1.1 million-square-foot retail power center in Yonkers, located north of New York City. Target has signed a 40-year lease to backfill a space formerly occupied by Sears. A partnership between Marx Realty and Benenson Capital Partners owns Cross County Center, which features more than 80 retail and restaurant users. An opening date has not yet been established.

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DevelopmentGeorgiaGrocery-anchoredNewsRetailers

Retail Planning Corp. Opens Publix-Anchored Shopping Center Near Atlanta

by Alex Tostado

Cumming, Ga. — Retail Planning Corp. has opened a Publix grocery store within Matt Town Center in Cumming on Friday, Oct. 9. The 48,387-square-foot store is located at the intersection of Matt Highway and Bannister Road, 48 miles north of downtown Atlanta. Other tenants at the center include Reveille Café, Laredo’s Cantina & Taqueria, Peaches & Pine, Great Clips, Alpha Nail Salon and The UPS Store. Hill Foley Rossi & Associates LLC was the architect, and RW Smith Co. was the general contractor.

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Investment salesMississippiNewsRetailers

SRS Brokers $6.3 Million Sale of Walgreens-Occupied Property in Jackson, Mississippi

by Alex Tostado

Jackson, Miss. — SRS Real Estate Partners has arranged the $6.3 million sale of a single-tenant retail property triple-net leased to Walgreens in Jackson. The 14,550-square-foot building spans 1.7 acres and was built in 2015. There are 15 years remaining on the corporate-guaranteed lease. The Walgreens is situated at 310 Meadowbrook Road, four miles north of downtown Jackson. Matthew Mousavi, Patrick Luther and Parker Walter of SRS represented the seller, an undisclosed family office completing a 1031 exchange. Mark Ruble of Marcus & Millichap represented the undisclosed seller, which also …

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