San Antonio — Big V Property Group has acquired The RIM Shopping Center, a 1 million-square-foot retail and restaurant destination in San Antonio. Big V acquired the property, which is part of a larger mixed-use development, in partnership with New York-based Kimco Realty and San Diego-based Equity Street Capital. The seller and sales price were not disclosed. Big V will also manage the property.
Matamoras, Pa. — ShopRite will open a 73,000-square-foot grocery store within the former Kmart building at Westfall Town Center in Matamoras, located along the New Jersey-Pennsylvania border. The opening is scheduled for this fall. Metro Chicago-based CenterPoint Properties owns Westfall Town Center. Derek Zerfass and Scott Horner of Colliers International brokered the deal. An undisclosed user is also set to occupy 25,000 square feet within the former Kmart store beginning this fall.
Franklin, N.H. — JLL has negotiated the $11.5 million sale of a 51,230-square-foot retail building leased to Hannaford Supermarket in Franklin, located north of Manchester. The grocer has occupied the 11.5-acre property, which has the capacity to support 13,000 square feet of new development, for 30 years and recently extended its lease. Nat Heald and Chris Angelone of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.
Cincinnati — Phillips Edison & Co. Inc. (PECO) has filed a registration statement on Form S-11 with the U.S. Securities and Exchange Commission for a proposed public offering in conjunction with the listing of its stock on a national stock exchange. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The Cincinnati-based retail REIT intends to list its stock under the ticker symbol “PECO.” Morgan Stanley & Co. LLC, BofA Securities and J.P. Morgan Securities LLC will be acting …
Trussville, Ala. — JLL Capital Markets has brokered the sale of Pinnacle at Tutwiler Farm, a 248,988-square-foot regional shopping center in Trussville, a suburb of Birmingham. Brad Buchanan, Jim Hamilton, Will Sledge, Tom Hall and Taylor Callaway of JLL marketed the property in coordination with online auction platform Ten-X on behalf of the sellers, Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates and Series 2007-C1. The undisclosed buyer was a private investor based out of Texas. The sales price was not disclosed. The Pinnacle at Tutwiler Farm …
Tucson, Ariz. — An affiliate of Los Angeles-based Portal Investment Management has purchased Rolling Hills Square, a grocery-anchored shopping center located in Tucson. Cincinnati-based Phillips Edison & Co. sold the property for an undisclosed price. Situated on 12.3 acres at the southwest corner of Kolb and Golf Links roads, Rolling Hills Square features 114,102 square feet of retail space. At the time of sale, the property was 96.2 percent occupied with Fry’s Food & Drug as the anchor tenant. Michael Hackett and Run Schubert of Cushman & Wakefield in Phoenix …
Fountain Valley, Calif. — Faris Lee Investments has brokered the sale of a five-acre mixed-use redevelopment site known as Brookhurst & Warner in the Orange County community of Fountain Valley. An undisclosed buyer acquired the site for $17.5 million. Rick Chichester, Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the undisclosed seller in the deal.
Louisville, Ky. — NorthMarq has secured $10.5 million in acquisition financing for Freys Hill Retail Center, a 58,726-square-foot retail property located at 10220 Westport Road in Louisville. The fully-occupied center is anchored by PetSmart and home to tenants including Half Price Books, Party City and Starbucks Coffee. The fixed rate loan was structured with a 10-year term on a 25-year amortization schedule with two years interest-only. Randall Waddell of NorthMarq arranged financing for the buyer, Compass Capital LLC of Lexington, through its relationship with a local bank.
McLean, Va. — KLNB has arranged the sale of Chesterbrook Shopping Center in McLean. Vito Lupo, Andy Stape and Jake Furnary of KLNB’s investment sales team represented the seller, Chesterbrook One LLC, and worked with the buyer, Federal Realty Investment Trust. Federal Realty Investment Trust was also the center’s existing property manager and had a long-standing relationship with ownership. The sale’s price was not disclosed. Located at 6244 Old Dominion Drive, Chesterbrook Shopping Center has been anchored by Safeway since 1965. Additional tenants at the 89,625-square-foot shopping center include Walgreens, …
Houston — PopStroke Entertainment Group, a Florida-based golf concept, will open a new venue at Katy Grand, a Cinemark-anchored retail power center in Houston that is owned by NewQuest Properties. The venue will feature two 18-hole mini-golf courses conceived by TGR Design, an architecture firm backed by golf legend Tiger Woods. The concept includes a full-service restaurant and bar, ice cream parlor, outdoor games and a playground. Heather Nguyen and Rebecca Le internally represented NewQuest in the lease negotiations. PopStroke currently has two facilities in Port Saint Lucie and Fort …