Washington Court House, Ohio — Marcus & Millichap has brokered the $2.5 million sale of a 10,125-square-foot property net leased to CVS Pharmacy in Washington Court House, located between Columbus and Cincinnati. The building is located at 1795 Columbus Ave. CVS recently extended its lease for 15 years. Dan Yozwiak and Nathan Coe of Marcus & Millichap secured the buyer, a partnership completing a 1031 tax-deferred exchange. Doug Brooks of Marcus & Millichap Capital Corp. arranged long-term, fixed-rate acquisition financing.
East Rutherford, N.J. — Candy and sweets retailer IT’SUGAR will open a 22,000-square-foot store at American Dream, a newly opened entertainment and retail destination in East Rutherford, a western suburb of New York City. The official opening is set for Saturday, Dec. 14. The first floor of the three-story store will offer giant candy, sugar sculptures and more than 5,000 square feet of candy bins with a variety of sweets. The second floor will house branded candies, including Sour Patch Kids, Swedish Fish and Reese’s. In spring 2020, a café …
Ashland, Va. — Rochester, New York-based Wegmans Food Markets Inc. will invest $175 million to establish a new regional distribution operation in Hanover County, 13 miles northeast of Richmond. Located along Sliding Hill and Ashcake roads in Ashland, the new campus will allow the grocer to expand its distribution network on the East Coast and grow its retail footprint, while creating 700 new jobs. Wegmans currently has over 100 stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, Massachusetts and North Carolina. No construction timeline was given for the new Virginia …
Pekin, Ill. — Mattress Liquidators has relocated to a former Bergner’s department store at East Court Village in Pekin within central Illinois. The mattress store, previously located at 3518 Court St. within the shopping center, has moved to the former Bergner’s space at 3536 Court St. Mattress Liquidators now occupies the entire 82,100-square-foot space and opened its doors Thursday, Dec. 12. Mattress Liquidators offers name-brand mattresses at significant discounts by purchasing overstocks and year-end models. The East Court Village store will also sell furniture and major appliances. The store is …
Lawrenceville, Ga. — CW Capital has sold Village Shoppes of Sugarloaf, a 149,805-square-foot retail center in Lawrenceville. Publix anchors the property, which is located at 3330-3410 Sugarloaf Parkway, 30 miles northeast of downtown Atlanta. Village Shoppes was 63 percent leased at the time of sale. Scott Israel, Adam Sklaver and Phil Kates of CBRE represented the seller in the transaction. Branch Properties acquired the asset at a 5.5 percent cap rate.
Belton, Mo. — Quantum Real Estate Advisors Inc. has brokered the $5.4 million sale of a 55,000-square-foot property occupied by Hobby Lobby in Belton, about 20 miles south of Kansas City. The single-tenant building is located at 520 E. Markey Parkway. Hobby Lobby has approximately 12 years remaining on its lease. Dan Waszak and Zack Hilgendorf of Quantum represented the seller, a Kansas City-based developer. A California-based investment fund purchased the asset.
Miami — UrbanX Group has inked new lease agreements with fast casual restaurant Chick-fil-A and clothing retailer Old Navy to occupy a total of 19,000 square feet along the Miami River. The tenants will join River Landing Shops & Residences, the 8.1-acre mixed-use development currently under construction. Chick-fil-A and Old Navy are both scheduled to open in spring 2020 and join already signed tenants Publix, Burlington, T.J. Maxx, Ross Dress for Less, GNC, Chase Bank, AT&T and Hobby Lobby. The $425 million River Landing in the Mid River district, west …
New Holstein, Wis. — The Boulder Group has arranged the $2.3 million sale of a single-tenant property net leased to grocer Piggly Wiggly in New Holstein, about 40 miles south of Green Bay. The 29,651-square-foot building is located at 2243 Calumet Drive. There are more than eight years remaining on Piggly Wiggly’s lease. Randy Blankstein and John Feeney of Boulder represented the seller, a Wisconsin-based partnership. A Midwest-based individual purchased the asset while completing a 1031 tax-deferred exchange.
Philadelphia — Anchor Shops, a retail store and distribution network for digital brands breaking into brick-and-mortar, will open a store at Fashion District Philadelphia and a distribution center at Moorestown Mall in the second quarter of 2020. Both properties are owned by PREIT. Anchor Shops, a project of ShopFulfill, was conceived to help digitally native brands better compete with legacy retailers by providing online retailers with a turnkey solution that enables them to establish a brick-and-mortar presence and benefit from a low-cost regional distribution network. Depending on the size and …
Irvine, Calif. and Salt Lake City — Faris Lee Investments and MTN Retail Advisors, a grocer-specialized data collection and analytics provider, have entered into a partnership to combine Faris Lee’s retail, real estate, finance and investment advisory services with MTN’s proprietary technology, which includes artificial intelligence (AI) machine learning. MTN currently has data on 28,000 active grocers across the United States and expects that number to grow to 40,000 over the next 18 months. The partnership between Irvine-based Faris Lee Investments and Salt Lake City-based MTN Retail Advisors will also …