Palm Springs, Fla. — CBRE has arranged the $3.8 million sale of Capitol Mall, a mixed-use property located at 3745 South Congress Ave. in Palm Springs. Capitol Mall consists of a 23,698-square-foot multi-tenant retail building and a 7,250-square-foot warehouse. A South Florida-based private investor operating under the name Capitol Mall LLC acquired the property from Congressional Developers Inc. David Donnellan and Patricia Friend of CBRE represented the buyer in the transaction.
Washington, D.C. — JLL Capital Markets has arranged the sale of a portfolio of eight infill neighborhood retail assets totaling 695,991 square feet in Washington, D.C., northern Virginia and southern Maryland. Stephen Conley, Danny Finkle, Jordan Lex and Kim Flores of JLL represented the D.C.-based seller, WashREIT (NYSE: WRE), which sold the portfolio for $168.3 million. The buyers were Rosenthal Properties and an undisclosed institutional partner, according to the Washington Business Journal. The news outlet also reports the seller had acquired the eight properties over the span of five decades. …
Decatur, Ga. — CBRE has arranged the sale of North Dekalb Mall in Decatur, about 8.6 miles east of downtown Atlanta. Sterling Organization sold the property for an undisclosed price. The buyer, EDENS, plans to redevelop the mall into a mixed-use property, according to The Atlanta Journal-Constitution. Located at 2050 Lawrenceville Highway, North Dekalb Mall is located on 76.7 acres at the intersection of Lawrenceville Highway and North Druid Hills Road. The enclosed mall’s tenants include AMC Theatres, Dollar Tree, Burlington and Marshalls. AMC Theatres has a maximum of six …
Greensboro, N.C. — Marcus & Millichap has brokered the sale of West Market Shopping Center, a 152,030-square-foot, Food Lion-anchored retail property in Greensboro. The property sold for $9.1 million. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Built in 1963, West Market Shopping Center is located at 4637-4653 W. Market St. The property’s tenant roster includes Cato, Strength & Body and Reconsidered Goods.
Surprise, Ariz. — Boros Investments has completed the disposition of Grand Village Center, a retail property located at 14273 and 14291 W. Grand Ave. in Surprise. LJ Mainstreet Holdings acquired the center for $5 million. The 25,653-square-foot property is fully leased to eight tenants, including Church for the Nations, Zona Communications, D’Ambrosio, Full Service Salon and Master Taco Restaurant. The buyer also acquired two adjacent undeveloped land parcels from a different seller and plans to build additional retail buildings on the site. Steve Julius, Jesse Goldsmith and Chase Dorsett of …
Tucson, Ariz. — Macerich Co. has completed the disposition of La Encantada, an open-air lifestyle center in Tucson. A group of local investors acquired the property for $165.2 million. Completed in 2003, La Encantada offers 246,256 square feet of retail space. At the time of sale, the property was 93 percent leased to tenants including Crate & Barrel, Tiffany & Co., West Elm, Anthropologie, Athleta, Lululemon, Pottery Barn, Madewell, Warby Parker, Williams-Sonoma, Bluemercury, Barre 3, Core Health & Fitness, Fuchsia Spa and Laseraway, AJ’s Fine Foods, RA Sushi Bar and …
Durham, N.C. — White Point Partners has unveiled plans for a 125,000-square-foot mixed-use development in Durham called Horseshoe at Hub RTP. The mixed-use building is part of a larger 100-acre development, Hub RTP, which will be constructed in two phases. Horseshoe at Hub RTP will feature approximately 25,000 square feet of retail space surrounding an outdoor plaza. Upon completion, the project in full will deliver up to 1 million square feet of Class A office space; 200,000 square feet of lab and office space; 75,000 square feet of retail and …
Fontana, Calif. — Progressive Real Estate Partners has signed a new lease with Crazy Boss Big Discount Store at Vineyard Valley Center, a 285,000-square-foot retail center in Fontana. Located at 17099 Valley Blvd., the discount store will open this fall in a 103,157-square-foot anchor space that was formerly occupied by Kmart. Additional tenants at the center include Food 4 Less, Big Lots and dd’s Discounts. Paul Galmarini of Progressive Real Estate Partners and Justin Altemus of The Altemus Co. represented the landlord in the transaction. Galmarini also represented Crazy Boss.
Jacksonville, Fla. — CBRE has arranged the sale of St. Johns Commons, a 71,352-square-foot, Winn-Dixie-anchored shopping center in Jacksonville. Dennis Carson and Casey Rosen of CBRE represented the seller, an affiliate of Phillips Edison & Co., in the transaction. An affiliate of Ash Properties purchased the fully leased center for an undisclosed price.
Atlanta — Puttshack is set to open at High Street, a $2 billion, 36-acre mixed-use development located on the northside of Atlanta. GID Development Group is developing High Street and inked the lease with Puttshack — the first anchor tenant to be announced for the project. The entertainment venue will occupy more than 26,000 square feet of space, featuring four tech-driven mini golf courses, which offer a dining menu and full cocktail bar. The first phase of High Street will break ground this year and is slated to open by …
