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Investment salesNewsOhioRetailers

Brixmor Property Group Sells 89,436-Square-Foot Retail Center Near Cleveland

by Alex Tostado

Streetsboro, Ohio — Brixmor Property Group has sold Streetsboro Crossing, an 89,436-square-foot retail center in Streetsboro, Ohio. The property was built in 1996 and renovated in 2001. Giant Eagle anchors the center, which is situated 31 miles southeast of downtown Cleveland, and is the only traditional grocer in the trade area. The center is shadow-anchored by Target and Lowe’s, and was 94 percent leased at the time of the sale to tenants including Pet Supplies Plus, Palm Beach Tan, GNC, Sally Beauty Supply and Great Clips. Amy Sands and Clinton Mitchell …

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Investment salesNewsRestaurantsUtah

Four Corners Property Trust Acquires Three Restaurants in Utah for $4.9 Million

by Alex Tostado

Logan, Utah — Four Corners Property Trust (FCPT) has purchased three restaurant outparcel properties located adjacent to a mall in Logan, Utah. The aggregate acquisition price was $4.9 million. The name of the seller was not disclosed. The properties are occupied by Texas Roadhouse, Olive Garden and Arby’s, and each property is leased to corporate operators under triple-net leases with approximately seven years of weighted average term remaining.

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CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNews

Faris Lee Investments Arranges $4.6 Million Sale of Two Retail Centers in Indio, California

by Katie Sloan

Indio, Calif. —Faris Lee Investments has arranged the sale of two retail strip centers — Rubidoux Plaza and South Rubidoux — in Indio. The properties sold for a combined total of $4.6 million. Totaling nearly 20,000 square feet, the retail centers are located along California Highway 111 and serve the entire Coachella Valley area. Tom Chichester of Faris Lee Investments represented the seller in the transactions. The names of the seller and buyers were not released.

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Architecture and DesignDevelopmentIllinoisNews

Centennial Unveils Green Space Vision for Two Malls in Illinois

by Katie Sloan

Vernon Hills and Aurora, Ill. —Centennial has unveiled its new placemaking concepts at two malls in Illinois — Hawthorn Mall in Vernon Hills and Fox Valley Mall in Aurora. Centennial will transform the malls’ center courts into a multi-use environment that will enhance consumer experience. Centennial will invest $12 million into the courtyards, which total 31,115 square feet. The new courtyards will be surrounded by dining and entertainment options. The design team includes architect Stantec and general contractor Graycor Construction Co. A timeline for construction was not released.

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Investment salesNewsRetailersTexas

Venture Commercial Negotiates Sale of 169,378-Square-Foot Shopping Center in Suburban Fort Worth

by Alex Tostado

Burleson, Texas — Venture Commercial has negotiated the sale of McAlister Square, a 169,378-square-foot shopping center located in Burleson, Texas, a southern suburb of Fort Worth. Anchored by Academy Sports + Outdoors, the property’s tenant roster includes national retailers like FedEx Office, Verizon Wireless and Firehouse Subs. Jonathan Cooper, John Zikos and Don Miller of Venture Commercial represented the seller in the transaction. Kevin McIntosh of KMAC Group Inc. represented the buyer. Both parties requested anonymity.

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FinanceNew JerseyNewsRetailers

Eastman Cos. Refinances 95,809-Square-Foot Retail Center in Livingston, New Jersey

by Alex Tostado

Livingston, N.J. — Eastman Cos. has refinanced The Shoppes at Livingston Circle, a 95,809-square-foot retail center in Livingston, New Jersey, an eastern suburb of Newark. Built in 1993 and anchored by German discount grocer Aldi, the property was 80 percent leased at the time of sale to tenants such as Olive Garden, Goldfish Swim and Club Pilates. Jon Mikula and Jim Cadranell of HFF placed the loan, which features a 12-year term and a fixed interest rate, on behalf of Eastman. The lender was not disclosed.

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FloridaLeasingNewsRetailers

New England Development Signs Three New Tenants to Outlet Mall in South Florida

by Alex Tostado

West Palm Beach, Fla. — New England Development has signed Kate Spade New York, Coach and Stuart Weitzman to leases at Palm Beach Outlets in West Palm Beach, Florida. Stuart Weitzman opened April 5 and Kate Spade and Coach are scheduled to open later this year. Palm Beach Outlets features more than 100 retailers, including Saks Fifth Avenue OFF 5TH, Ann Taylor Factory Store, Banana Republic Factory Store, Brooks Brothers Factory Store, Calvin Klein, Cole Haan Outlet, GUESS Factory, J.Crew Factory|crewcuts, Nautica, Nike Factory Store, Polo Ralph Lauren Factory Store, …

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Investment salesMissouriNewsRetailers

Mid-America, Pace Properties Negotiate Sale of 53,928-Square-Foot Retail Center in Metro St. Louis

by Alex Tostado

Chesterfield, Mo. — Mid-America Real Estate Corp. and Pace Properties have negotiated the sale of Chesterfield Valley Square in Chesterfield, 20 miles west of St. Louis, for an undisclosed price. The 53,928-square-foot retail center is fully occupied. Tenants include Sherwin Williams, U.S. Bank, Bar Louie, Athletico and Oishi Sushi & Steakhouse. Ben Wineman of Mid-America and Scott Seyfried of Pace represented the seller, a St. Louis-based private investor. The Staenberg Group purchased the asset.

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CaliforniaInvestment salesNewsRetailers

Marcus & Millichap Arranges $2.1 Million Acquisition of Retail Center in Indio, California

by Alex Tostado

Indio, Calif. — Marcus & Millichap has arranged the sale of a retail property, located at 82360 U.S. Highway 111 in Indio. An individual/personal trust acquired the 9,888-square-foot property for $2.1 million at a 6.7 percent capitalization rate. Edwin Mariscal of Marcus & Millichap’s Ontario, California, office represented the buyer in the deal.

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DevelopmentGrocery-anchoredMarylandNews

Whole Foods Market to Anchor $350 Million Mixed-Use Development in Metro Baltimore

by Alex Tostado

Towson, Md. — Developers Greenberg Gibbons and Caves Valley Partners have signed Whole Foods Market to anchor the retail component of Towson Row, a $350 million mixed-use development in downtown Towson, Maryland. Whole Foods will occupy 45,000 square feet and include a 6,200-square-foot mezzanine and outdoor dining terrace. Construction on the store is expected to begin this winter and take 18 months to complete. Amenities will include a two-story parking deck and covered walkways leading to the store. Towson Row is currently under construction on a five-acre site, 10 miles north …

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