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Sunset Plaza Mall
Investment salesNebraskaNews

Avison Young Brokers $4.5 Million Sale of Shopping Mall in Norfolk, Nebraska

by Julia Sanders

Norfolk, Neb. — Avison Young has brokered the $4.5 million sale of Sunset Plaza Mall in Norfolk, a city in northeast Nebraska. The 232,347-square-foot shopping center is located at 1700 Market Lane. The property was lender-owned and was roughly 48 percent occupied at close of escrow. Built in 1968 and renovated in 1994, the mall sits on 31 acres and features a mix of 30 regional and national tenants, including JC Penney, Bath & Body Works, Famous Footwear and GNC. Chris Maling and David Maling of Avison Young represented the …

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Fenton
LeasingNewsNorth Carolina

Hines, Columbia Add Four Retailers to Tenant Lineup at 69-Acre Fenton Development in Cary, North Carolina

by Julia Sanders

Cary, N.C. — Hines and Columbia Development have signed four new tenants at Fenton, a 69-acre mixed-use project currently under construction in Cary. Williams Sonoma, Pottery Barn, Athleta and Von Kekel Aveda Lifestyle Salon Spa are set to open in April 2022. Williams Sonoma will occupy a 5,504-square-foot space; Pottery Barn is set to open a 13,910-square-foot store; and Athleta will occupy a 3,825-square-foot space. In total, the first phase of the Fenton development will deliver 345,000 square feet of shops, restaurants and entertainment space. Other retail tenants set to …

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Planet Fitness
LeasingNew JerseyNews

R.J. Brunelli Negotiates Planet Fitness, Wingstop Leases in Toms River, New Jersey

by Julia Sanders

Toms River, N.J. — R.J. Brunelli & Co. LLC has negotiated leases with Planet Fitness and Wingstop at Toms River Shopping Center, a 253,000-square-foot property located in Toms River. Both tenants are expected to open during the third quarter of 2021. Planet Fitness will co-anchor the shopping center with Kohl’s and will take over 17,867 square feet of space that was previously occupied by Modell’s. Wingstop will occupy a 1,500-square-foot inline space formerly occupied by Liberty Travel. Danielle Brunelli of R.J. Brunelli & Co. represented the property owner in both …

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Stonebridge Square
GeorgiaInvestment salesNews

Saglo Acquires 160,391-Square-Foot Shopping Center in Suburban Atlanta

by Julia Sanders

Roswell, Ga. — Saglo Development Corp. has acquired Stonebridge Square, a 160,391-square-foot shopping center located at 620 West Crossville Road in the Atlanta suburb of Roswell. Saglo purchased the 18.6-acre property through its investment entity Stonebridge SDC LLC from an affiliate of RCG Ventures and its New York City-based joint venture partner. Adam Lustig of Bilzin Sumberg represented the buyer and Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the sellers in the transaction. First Horizon Bank provided financing for the acquisition. Kohl’s and Michaels anchor Stonebridge Square, …

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Mark Toro
Company newsGeorgiaNews

Former North American Properties Executive Mark Toro Launches Toro Development Co.

by Julia Sanders

Atlanta — Mark Toro, who formerly led North American Properties’ (NAP) Atlanta division, is launching Toro Development Co. This company will be aimed at acquiring outdated sites such as dead malls and transforming them into better mixed-use properties. The firm is not just focused on enclosed malls, but also suburban office parks, shopping centers and industrial sites. John Kelley, Richard Munger and Vicky Boyce are joining Toro’s development team as partners. The trio all played a role in ground-up and redevelopment projects at NAP, including Avalon, Atlantic Station, Colony Square …

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Investment salesNewsOhio

JLL Brokers Sale of 474,000-Square-Foot Power Center in Suburban Cleveland

by Julia Sanders

Fairview Park, Ohio — JLL Capital Markets has brokered the sale of Westgate Shopping Center, a 474,000-square-foot power center located in the Cleveland suburb of Fairview Park. The center is home to tenants including Target, Marshalls, EarthFare, Petco, Five Below, Kohl’s, Ulta Beauty, Lowe’s, Chick-fil-A, Longhorn Steakhouse, Buffalo Wild Wings, Starbucks Coffee and Five Guys. Clinton Mitchell, Amy Sands, Kirstey Lein and Bill Poffenberger of JLL represented the seller, IRC Retail Centers/DRA Advisors, in the disposition of the property to R.H. Johnson Co.

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FloridaInvestment salesNews

TCB-WCO Purchases West Colonial Oaks Shopping Center in Orlando for $17 Million

by Julia Sanders

Orlando, Fla. — TCB-WCO has purchased West Colonial Oaks, a 160,792-square-foot shopping center located in Orlando, for $17 million. Office Depot, Family Dollar, Olive Garden and Ollie’s Bargain Discount Store anchor the property. Jose Sasson of Axiom Capital Advisors represented the undisclosed seller and Michael Smith of Sands Investment Group represented the buyer in the off-market transaction.

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Investment salesNewsOklahoma

Stan Johnson Co. Negotiates $13.7 Million Sale of Restaurant Portfolio in Texas, Oklahoma

by Julia Sanders

Tulsa Okla. — Stan Johnson Co. has negotiated the $13.7 million sale of a portfolio of 10 restaurant properties totaling 25,643 square feet that are leased to Taco Bueno. The properties are located in various cities in Texas and Oklahoma. Josh Pardue of Stan Johnson Co. represented the seller, U.S. Realty Advisors LLC, in the transaction. The buyer was Centric Capital Partners. The deal traded at a cap rate of 7.22 percent.

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Garden Square
Faris Lee InvestmentsInvestment salesNewsUtah

Faris Lee Investments Arranges the $8.7 Million Sale of Garden Square Shopping Center in Metro Salt Lake City

by Julia Sanders

Midvale, Utah — Faris Lee Investments has arranged the $8.7 million sale of Garden Square shopping center, located roughly 12 miles outside Salt Lake City in Midvale. Nick D’Argenzio, Tom Chichester and Joe Chichester of Faris Lee Investments represented the undisclosed buyer and seller in the transaction.

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Miramar Square
Company newsIllinoisIndianaNews

Kite Realty, RPAI Enter Into $7.5 Billion Merger Agreement to Create New Shopping Center REIT

by Julia Sanders

Indianapolis and Chicago — Kite Realty Group Trust (NYSE: KRG) and Retail Properties of America (NYSE: RPAI) have entered into a merger agreement valued at $7.5 billion that will create a new shopping center REIT with a portfolio of 185 assets totaling approximately 32 million gross leasable square feet. Under the terms of the deal, which is expected to close in the fourth quarter, a subsidiary of Indianapolis-based KRG will acquire Chicago-based RPAI in an all-stock transaction. The $7.5 billion valuation puts the newly formed company in the top five …

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