Lockport, N.Y. — New Jersey-based private equity firm First National Realty Partners has purchased Tops Plaza, a 166,634-square-foot shopping center located outside of Buffalo in Lockport. A 92,000-square-foot Tops grocery store anchors the property, which was 97 percent leased at the time of sale. The seller and sales price were not disclosed.
Rocklin, Calif. — Capital Rivers Commercial has arranged the sale of a retail showroom located at 4467 Granite Drive in Rocklin, roughly 22 miles outside Sacramento. The 15,600-square-foot building, which features a second-floor mezzanine level, sold for $4.1 million. Ryan Orn and Joe Blanton of Capital Rivers Commercial handled the transaction. The names of the seller and buyer were not released.
Novi, Mich. — Crate & Barrel is set to open a new location at Twelve Oaks Mall in the Detroit suburb of Novi. Twelve Oaks Mall is home to 180 specialty stores and 30 restaurants. Crate & Barrel will open its 26,000-square-foot store in June. The new location will showcase the largest kitchen department in the brand’s portfolio. Crate & Barrel Holdings includes lifestyle brands Crate & Barrel, CB2, Crate and Kids and Hudson Grace.
Washington, D.C. — U.S. retail sales overall remained static in April, following a 10.7 percent increase in March, according to the Department of Commerce. The monthly data fell below expectations, as economists polled by Reuters had projected a 1 percent increase in retail sales. Some sectors of the economy did experience a substantial increase in spending, however. The Wall Street Journal reported that a tracker of credit- and debit-card spending from Bank of America revealed that outlays on airlines rose 23 percent, and that spending at restaurants and lodging also …
Jersey City, N.J. — Mack-Cali Realty Corp. has unveiled the latest phase of the redevelopment of Harborside, a 4.3 million-square-foot mixed-use campus in Jersey City. The redevelopment of the 422,590-square-foot Harborside 1, which is one of five office buildings on the campus, is complete and includes a new façade and lobby, as well as infrastructure upgrades. The building also features a private terrace on the fourth floor with views of the Hudson River and Manhattan skyline. As part of this phase, Mack-Cali also introduced new art installations and public spaces …
Plantation and Hialeah, Fla. — Azor Advisory Services has arranged two anchor-tenant leases at shopping centers located outside Miami in Plantation and Hialeah. Fitness System will open in a 21,429-square-foot space formerly occupied by Michaels at Plantation Crossing shopping center on July 1. Helene Unschuld of Century 21 Tenace Realty represented the tenant in the transaction. Azor also represented the owner of a Hialeah shopping center in leasing a 22,000-square-foot outparcel to dd’s Discounts. Craig Fetherston and Jim Petrarca of the Shopping Center Group represented the tenant in the transaction. …
Skyline Seven Arranges $12.4 Million Sale of Rivermont Square Shopping Center in Alpharetta, Georgia
Alpharetta, Ga. — Skyline Seven Real Estate has arranged the $12.4 million sale of Rivermont Square, a 102,800-square-foot, Goodwill-anchored shopping center in the northern Atlanta suburb of Alpharetta. Kenny Holzer, Elliott Kyle and Chase Murphy of Skyline Seven represented the undisclosed seller in the transaction. Wes Allen with Pinnacle Leasing & Management LLC represented the undisclosed buyer. Rivermont Square includes a freestanding Starbucks Coffee, as well as a vacant outparcel previously occupied by Verizon Wireless. The 12-plus acre property is located at 8560 and 8514 Holcomb Bridge Road and is …
LaPlace, La. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.9 million sale of a 62,297-square-foot single-tenant retail property occupied by Winn Dixie in the New Orleans suburb of LaPlace. The property features a long-term, absolute triple-net lease that is corporate guaranteed by Winn-Dixie Stores Inc. Sean Lutz and Dan Elliot of SRS represented the seller, a private investor from Baton Rouge, Louisiana, in the transaction. The buyer was a family office also based in Baton Rouge.
Chesterfield Township, Mich. — Hanley Investment Group Real Estate Advisors has brokered the $2.4 million sale of an Olive Garden ground lease in Chesterfield Township, about 30 miles north of Detroit. The 7,757-square-foot restaurant property, located at 27169 23 Mile Road, opened in the fall of 2020. The single-tenant building is situated on an outparcel directly in front of a Meijer supermarket. Jeff Lefko and Bill Asher, in conjunction with ParaSell Inc., represented the buyer, a Southern California-based 1031 exchange buyer. Phil Sambazis of Marcus & Millichap represented the seller, …
Frisco, Texas — STRIVE has arranged the sale of Frisco Crossing, a 12,158-square-foot retail center located on the northern outskirts of Dallas. Frisco Crossing was fully occupied at the time of sale by tenants such as Stonelake Family Dentistry, Palio’s Pizza Café and Frisco Pharmacy. Hudson Lambert of STRIVE represented the seller and procured the buyer, both of which were local investors that requested anonymity, in the transaction.