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Investment salesNewsNorth CarolinaRetailers

SRS Arranges $23.9 Million Sale of Hobby Lobby-Anchored Shopping Center Near Charlotte

by Alex Tostado

Matthews, N.C. — SRS investment Properties Group has arranged the $23.9 million sale of Matthews Corner Shopping Center, a 191,664-square-foot property in Matthews. The asset was fully leased at the time of sale to eight tenants, including Hobby Lobby, Marshalls, Academy Sports + Outdoors and Ollie’s Bargain Outlet. Matthews Corner is situated on 19 acres at 2332 Matthews Township Parkway, 12 miles southeast of downtown Charlotte. Kyle Stonis and Pierce Mayson of SRS represented the seller, Viking Partners, in the transaction. The buyer, Big V Property Group, was self-represented in …

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Company newsDevelopmentNew JerseyNewsRestaurants

German Doner Kebab Plans to Open 350 Restaurants in US, with First Location Slated for American Dream Mall

by Alex Tostado

East Rutherford, N.J. — German Doner Kebab (GDK), a fast-casual restaurant chain, plans to open 350 restaurants in the United States over the next seven years. The first location will be within American Dream in East Rutherford. The Glasgow, Scotland-based company specializes in doner kebab, which is a slow-cooked meat often served on a flatbread. GDK operates more than 70 locations in the United Kingdom, Sweden, Dubai, Abu-Dhabi, Oman, and Bahrain. GDK also plans to open locations in Ireland and Saudi Arabia. New York City-based JAACRES is representing GDK in …

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Investment salesNew JerseyNewsRetailers

Cushman & Wakefield Brokers $31.5 Million Sale of Shopping Center in Lawnside, New Jersey

by Alex Tostado

Lawnside, N.J. — Cushman & Wakefield has brokered the $31.5 million sale of Lawnside Commons, a 151,000-square-foot retail property in Lawnside, a southwestern suburb of Philadelphia. Home Depot anchors the center, which is located at 310 White Horse Pike, and the tenant roster includes PetSmart, Wendy’s, T-Mobile and Mattress Firm. Andrew Merin, David Bernhaut and Gary Gabriel led a Cushman & Wakefield team that represented the undisclosed seller. The team also procured the buyer, a joint venture between MCB Real Estate LLC and United Hampshire US REIT.

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GeorgiaNews

Longtime Atlanta Restaurant Broker Harold Schumacher Dies at Age 72

by Alex Tostado

Atlanta — Harold Schumacher, founder of The Schumacher Group in Atlanta, died Saturday at the age of 72. Schumacher attended Michigan State University and moved to Atlanta as a public school teacher in the 1970s. He worked part-time as a restaurant critic for The Atlanta Journal-Constitution. Schumacher worked at The Shopping Center Group, now known as TSCG, as a broker for four years before founding The Schumacher Group in 1991. Some of Schumacher’s major clients include Verizon Wireless, Bruster’s, Metrotainment Cafes (Hudson Grill and Garrison’s), Varasano’s Pizza and Golden Corral. The firm also is part of the Retail Brokers Network, …

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FinanceFloridaGrocery-anchoredNewsRetailers

NorthMarq Arranges $14 Million Refinancing for Village Square Shopping Center Near Miami

by Alex Tostado

Pembroke Pines, Fla. — NorthMarq has arranged a $14 million refinancing for Village Square Shopping Center, an 88,529-square-foot property in Pembroke Pines. The property features a Publix and two outparcels leased to Bank of America and McDonald’s. Village Square is situated at 1601-1697 N. Hiatus Road, 25 miles north of downtown Miami. An undisclosed life insurance company provided the loan, which features one year of interest-only payments followed by a 20-year amortization schedule. Michael Balan of NorthMarq represented the undisclosed borrower in the transaction.

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DevelopmentFinanceNew YorkNewsRetailers

Houlihan-Parnes Arranges $10 Million Construction Loan for Stop & Shop Store in Woodmere, New York

by Alex Tostado

Woodmere, N.Y. — Houlihan-Parnes LLC has arranged a $10 million construction loan for a retail project that will deliver an 80,000-square-foot Stop & Shop grocery store in Woodmere, a city located on the western part of Long Island. An undisclosed national lender provided the loan, which carries a fixed interest rate of 2.78 percent. The grocery store will be constructed in the Five Towns Shopping Center, an approximately 500,000-square-foot retail center located at 253-01 Rockaway Blvd., just east of JFK International Airport. The tenant roster includes Lowe’s Home Center, TJ …

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Investment salesNewsRetailersWisconsin

JLL Brokers Sale of Two-Building Retail Property in Downtown Milwaukee

by Alex Tostado

Milwaukee — JLL Capital Markets has brokered the sale of the Downer Avenue Retail Collection, two buildings that house 60,986 square feet of retail, office and residences in the heart of downtown Milwaukee. The sales price was undisclosed. Built in 1916, Downer East is home to Stone Creek Coffee, F45, Breadsmith, Downer Cleaners, Café Hollander, Downer Wine & Spirits and Robert Laurence Salon & Spa. Completed in 1912, Downer West features two multifamily units in addition to retail and office space occupied by Landmark Theatres, Pizza Man, Henry’s, Salon Nova, …

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ColoradoGrocery-anchoredInvestment salesNewsRetailers

Marcus & Millichap Arranges $6.8 Million Sale of Natural Grocers-Occupied Retail Asset in Denver

by Alex Tostado

Denver — Marcus & Millichap has arranged the sale of a retail property located at 18471 Green Valley Ranch Blvd. in Denver. The newly constructed building traded for $6.8 million, setting a nationwide pricing record for a fee-simple Natural Grocers store, according to Marcus & Millichap. Cory Gross of Marcus & Millichap’s Denver office represented the undisclosed buyer and undisclosed seller in the deal. Natural Grocers occupies the 13,000-square-foot property on a 15-year triple-net lease basis. The organic and natural foods grocery store is set to open in the coming …

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LeasingNew JerseyNewsRetailers

R.J. Brunelli Negotiates 25,067-Square-Foot Retail Lease for Fitness Center in Yardville, New Jersey

by Alex Tostado

Yardville, N.J. — R.J. Brunelli & Co. has negotiated a 25,067-square-foot retail lease for fitness chain Jersey Strong in Yardville, a southeastern suburb of Trenton. The fitness center will be located within Dover Park Plaza, a 56,000-square-foot retail center at 1-23 Sunnybrae Blvd. Other tenants include a CVS pharmacy and several restaurants. Robert Kwiatkowski of R.J. Brunelli represented Jersey Strong in the lease negotiations. Danielle Brunelli and Peter Miller, also with R.J. Brunelli, represented the landlord.

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CaliforniaDevelopmentGrocery-anchoredNewsRetailers

Organic Roots Grocery Store Opens at McKinley Crossroads in Corona, California

by Alex Tostado

Corona, Calif. — Organic Roots, a family-owned organic and natural food store, has opened a its location at McKinley Crossroads. ShopOne Centers REIT owns the property, located in Corona. This is the retailer’s second store, joining its existing location in Temecula. Organic Roots offers local, organic products, all-natural foods, health and body care products, and supplements. Additionally, the store features a wide selection of foods for specialized diets, including vegan, vegetarian, gluten free, low sugar, paleo and keto. Organic Roots will be open to seven days a week from 9 …

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