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Shoppes at Romence Village
Investment salesMichiganNews

Mid-America Brokers Sale of 62,079-Square-Foot Shopping Center in Portage, Michigan

by Abby Cox

Portage, Mich. — Mid-America Real Estate Corp. has brokered the sale of Shoppes at Romence Village, a 62,079-square-foot shopping center located in Portage, five miles south of Kalamazoo. The center — which was 96 percent leased at the time of sale — features a mix of tenants including AAA, Great Clips, Michigan Secretary of State, Jet’s Pizza, Once Upon A Child and Clothes Mentor. New York-based Time Equities purchased the property for an undisclosed price. Ben Wineman, Daniel Stern and Brad Lefkowitz of Mid-America represented the seller, Bloomfield Hills, Michigan-based …

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Kinsey Crossing
Investment salesNewsTexas

STRIVE Arranges Sale of 24,107-Square-Foot Retail Center in Tyler, Texas

by Abby Cox

Tyler, Texas — STRIVE has arranged the sale of Kinsey Crossing, a 24,107-square-foot retail center located in the Northeast Texas city of Tyler. Originally built in 2014, the property was 80 percent leased at the time of sale to tenants including Dunkin’ Donuts, Baskin-Robbins and T-Mobile. Andrew Williams and Will Schubert of STRIVE represented the New Jersey-based seller and sourced the buyer. Additional terms of the sale were not disclosed.

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Investment salesNewsTexas

CenterSquare Acquires 27,500-Square-Foot Shopping Center in Katy, Texas

by Abby Cox

Katy, Texas — Conshohocken, Pennsylvania-based CenterSquare Investment Management has acquired The Shops at Cinco Ranch, a 27,500-square-foot essential service retail (QSR) shopping center in the western Houston suburb of Katy. The property was 96 percent leased to service-oriented tenants at the time of sale. This transaction marks CenterSquare’s fifth acquisition in Houston.

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Willow Creek Shopping Center
Investment salesMichiganNews

Marcus & Millichap Brokers $23.8 Million Sale of Power Center in Suburban Detroit

by Abby Cox

Canton, Mich. — Marcus & Millichap has brokered the $23.8 million sale of Willow Creek Shopping Center, a 161,626-square-foot power center located in Canton, roughly 23 miles west of Detroit. Originally built in 2004, the center is shadow-anchored by IKEA. Tenants at the property — which was fully leased at the time of sale — include Michaels, Marshalls, Dunham’s Sports, Crate & Barrel, Dollar Tree, Kirkland’s, Five Below and Direct Optical. All eight tenants are operating on a triple-net lease basis. Ashish Vakhariya, Darin Gross, and Seth Haron of Marcus …

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Cain Creek Shopping Center
Grocery-anchoredInvestment salesNewsVirginia

Legacy Realty Group Brokers Sale of 59,410-Square-Foot Shopping Center in Danville, Virginia

by Abby Cox

Danville, Va. — Legacy Realty Group Advisors has brokered the sale of Cain Creek Shopping Center, a 59,410-square-foot shopping center located in Danville. Food Lion anchors the center. Additional tenants at the property feature a mix of retail stores, restaurants and businesses, including Family Dollar, Danville Dental, Fabulous Beauty Supply and Isabel’s Pizza Pasta & Subs. Jacob Baruch of Legacy Realty Group Advisors represented both the buyer and seller, an affiliate of Fayetteville, Arkansas-based Core Equity Partners, in the off-market transaction.

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ShopRite Staten Island
Grocery-anchoredLeasingNew YorkNews

ShopRite to Anchor Staten Island’s Evergreen Plaza

by Abby Cox

New York City — North Plainfield, New Jersey-based Levin Management Corp. (LMC) has negotiated a 62,000-square-foot lease with ShopRite at Evergreen Plaza on Staten Island. A new ShopRite grocery store will backfill an anchor space that was formerly occupied by SuperFresh. Mannix Family Markets will operate the new store, which is scheduled to open this fall. Mannix Family Markets also operates three additional ShopRite locations in the Graniteville, New Dorp and Charleston neighborhoods. LMC represented the landlord in the lease negotiations. Retailer-owned supermarket cooperative Wakefern Food Corp. is the tenant.

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Family Dollar
Company newsNew YorkNewsOperationsVirginia

Dollar Tree to Sell Family Dollar Business for $1 Billion

by Abby Cox

Chesapeake, Va. and New York City — Dollar Tree Inc. has agreed to sell the Family Dollar business segment to Brigade Capital Management LP and Macellum Capital Management LLC for $1 billion. The sales price represents a fraction of the $8.5 billion that Dollar Tree paid for the discount brand in 2015. Family Dollar will remain headquartered in Chesapeake. Family Dollar, which caters to low-income customers with its roughly 8,000 U.S. stores, has struggled in recent years. In March 2024, Dollar Tree unveiled plans to close approximately 970 underperforming Family Dollar …

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Company newsFinanceGeorgiaInvestment salesNews

RCG Ventures Acquires First Phase of $1.8 Billion Retail Portfolio

by Abby Cox

Atlanta — RCG Ventures (RCG) has acquired the first phase of a $1.8 billion multi-tenant retail portfolio from Global Net Lease, Inc (GNL). The first phase, which comprises 59 properties, was purchased for $1.1 billion. Truist Bank and Key Bank provided a new loan facility for the transaction, while Ares Management Alternative Credit, Koch Real Estate Investments and Goldman Sachs Alternatives provided equity investments. RCG expects to complete the sale of the remaining 41 properties in two additional phases by the end of the second quarter of 2025. McGuireWoods LLP …

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CaliforniaInvestment salesNews

JLL Arranges $12.4 Million Sale of Retail Property in Los Angeles

by Abby Cox

Los Angeles — JLL Capital Markets has arranged the $12.4 million sale of the Silver Lake Collection, a retail property located in the Silver Lake neighborhood of Los Angeles. Originally built in 1934 and renovated in 2023, the property comprises five street-front stores totaling 10,876 square feet. The property is fully leased to a mix of food-and-beverage concepts including Counter Culture Coffee, El Condor and Yi Cha. Tim Kuruzar of JLL Capital Markets represented the seller, Strategic Realty Trust, in the transaction, while Matthew Fainchstein of JLL represented the undisclosed …

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South Plaza Shoppes
FinanceNewsTennessee

BEB Lending Provides $10.3 Million Refinancing for Shopping Center in Nashville, Tennessee

by Abby Cox

Nashville, Tenn. — BEB Lending has provided a $10.3 million loan to refinance South Plaza Shoppes, a 163,777-square-foot shopping center located in Nashville. The undisclosed borrower will use the loan to pay off existing debt. Proceeds will also be used for leasing costs and planned capital expenditures at the property. Sean Silverbrook and Zach Feldman of BEB represented the firm. This transaction represents BEB Lending’s first loan in Nashville and second loan in the state of Tennessee.

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