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Daniels Crossing
FloridaInvestment salesNews

JLL Arranges $15.5 Million Sale of Publix-Anchored Retail Center in Fort Myers, Florida

by Julia Sanders

Fort Myers, Fla. — JLL Capital Markets has arranged the $15.5 million sale of Daniels Crossing, a 112,003-square-foot neighborhood shopping center anchored by Publix in Fort Myers. Danny Finkle, Luis Castillo and Eric Williams of JLL represented the sellers, EverWest Real Estate Investors LLC and Stiles Corporation, in the disposition of the property to Forge Capital Partners. Daniels Crossing is 70.5 percent occupied and with a mix of essential, restaurant and service tenants. The property is situated on 15.9 acres at 6900 Daniels Parkway at the intersection of Daniels Parkway …

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Company newsNew YorkNews

WHP Acquires Parent Company to Toys ‘R’ Us, Announces Plans for Store Openings

by Julia Sanders

New York City — WHP Global has acquired a controlling interest in Tru Kids Inc. (TRU), parent company to Toys ‘R’ Us, Babies ‘R’ Us, Geoffrey the Giraffe brands and more than 20 related consumer toy and baby brands. Tru Kids Inc. bought the Toys ‘R’ Us brand and its intellectual property in September 2017 when the company filed for Chapter 11 bankruptcy, according to reports by CNBC. Tru Kids has implemented a number of strategies since in an attempt to stir up momentum, including opening two pop-up locations in …

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Coffee Bean and Tea Leaf
CaliforniaInvestment salesNews

JLL Arranges $4.3 Million Sale of Retail Building in Long Beach, California

by Julia Sanders

Long Beach, Calif. — JLL Capital Markets has arranged the $4.5 million sale of a newly constructed, 1,839-square-foot retail building at 5865 E. Spring St. that is triple net leased to The Coffee Bean & Tea Leaf in Long Beach. Adam Friedlander of JLL marketed the property on behalf of the seller, Pacific West Property Group Inc. An undisclosed private investor acquired the property in an all-cash transaction as part of a 1031 exchange. Alan Wong of DAAG Developments acted as the buyer’s consultant. Situated 20 miles south of downtown …

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Walgreens
IndianaInvestment salesNews

Marcus & Millichap Arranges $3.7 Million Sale of Walgreens-Occupied Property in Indianapolis

by Julia Sanders

Indianapolis — Marcus & Millichap has arranged the sale of a Walgreens-occupied property in the Nora submarket of Indianapolis for $3.7 million. The single-tenant building is located at 1505 E. 86th St. Jordan Klink of Marcus & Millichap marketed the property on behalf of the seller, Indianapolis-based Westfield Pointe LLC, and sourced the buyers, Nora LLC and PP Nora LLC.

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LeasingNew JerseyNews

R.J. Brunelli Negotiates Two Retail Leases Totaling 18,660 Square Feet for Dollar Tree in New Jersey

by Julia Sanders

Riverdale and Manasquan, N.J. — R.J. Brunelli & Co. LLC has negotiated two retail leases for Dollar Tree in New Jersey. In the first deal, the discount retailer leased 9,200 square feet at Riverdale Crossing, a Walmart-anchored power center in Morris County. Dollar Tree will backfill a space formerly occupied by Pier 1 Imports. In the second transaction, Dollar Tree committed to a 9,460-square-foot endcap space at The Orchards at Wall, a 22,504-square-foot center in Manasquan that was also formerly occupied by Pier 1. Both stores are slated to open …

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Altus Towson Row
Investment salesMarylandNews

Greenberg Gibbons Commits to Acquire $100 Million in U.S. Shopping Centers

by Julia Sanders

Owings Mills, Md. — Greenberg Gibbons has launched a $100 million private equity fund with the goal of acquiring shopping centers throughout the East Coast, Southeast and Midwest. The Greenberg Gibbons Real Estate Income Fund officially closed last month with the majority of equity committed and will be finalized during the second quarter of 2021. With the addition of a co-investment vehicle, the fund will have the capacity to acquire up to $300 million in assets. Greenberg Gibbons CEO Brian Gibbons notes that plans for the fund have been in …

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Chapin Crossing
FinanceInvestment salesNewsSouth Carolina

Aztec Group Secures $10.8 Million Acquisition Financing for Shopping Center in Chapin, South Carolina

by Julia Sanders

Chapin, S.C. — Aztec Group Inc. has secured $10.8 million in debt and equity for the acquisition of Chapin Crossing, a 72,714-square-foot, Publix-anchored shopping center in Chapin. Jason Shapiro, Sean Harrington and Joel Zusman of Aztec Group arranged the financing on behalf of the buyer, a partnership led by affiliates of Miami-based CF Properties Corp. A Missouri-based life insurance company provided the 10-year loan, which features a fixed interest rate under 3 percent. Located at 1235 Chapin Road, Chapin Crossing was built in 2017 and is situated at the southwest …

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City Place
CaliforniaInvestment salesMixed-useNews

Joint Venture Acquires 14-Acre Mixed-Use Property in Long Beach, California

by Julia Sanders

Long Beach, Calif. — A joint venture between Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group has acquired City Place Long Beach, a 14-acre mixed-used property in downtown Long Beach. The open-air center offers a mix of retail and office space. The partnership secured financing to acquire City Place Long Beach at the end of 2020 and will now take over ownership of the center, which was previously home to an enclosed regional mall prior to the property’s redevelopment in 2002. All current tenants are set to remain …

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LeasingMichiganNews

Big Lots Signs 31,896-Square-Foot Lease at Petoskey Town Center in Michigan

by Julia Sanders

Petoskey, Mich. — Big Lots has signed a 31,896-square-foot lease at Petoskey Town Center near North Central Michigan College. U.S. Properties (USPG) owns the 174,870-square-foot shopping center. Big Lots will occupy a former Kmart location, filling over 37 percent of the building. Petoskey Town Center is home to tenants including Hobby Lobby, The American Automobile Association, Grondin’s Hair Center and Petoskey Sewing Center.

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HawaiiInvestment salesNews

Realty Income Corp. Buys 21-Property Convenience Store Portfolio in Hawaii for $109.4 Million

by Julia Sanders

Hawaii — A subsidiary of Realty Income Corp. has acquired a 21-property gas station/convenience store portfolio located throughout Hawaii. Par Pacific Holdings sold the portfolio in a fee-simple sale-leaseback transaction for $109.4 million. The portfolio includes 12 properties in Oahu, two facilities on Kauai, four properties on Maui and three properties on the island of Hawaii. The transaction also included a new master lease agreement to lease back the sites on a triple net basis. D. Andrew Ragsdale, Ken Hedrick, Jerry Hopkins, Kristian Neilson and John Curtis of Newmark’s Net …

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