Mission, Texas — Irvine, California-based Faris Lee Investments has brokered the sale of Mission Gateway, a 92,117-square-foot retail center located in Mission. Burlington and Murdoch’s Ranch & Home Supply anchor the property on long term leases. Olive Garden and Jack in the Box, which are also located at the center, were not included in the sale. Don MacLellan, Jeff Conover and Scott DeYoung represented the seller, a Texas-based developer, in the transaction. The buyer was an all-cash REIT.
Chesapeake, Va. — Atlantic Capital Partners has arranged the $12.1 million sale of Woodford Square, an 85,323-square-foot shopping center located in the Hampton Roads city of Chesapeake. Harbor Freights anchors the center, which was fully leased at the time of sale to tenants including Dollar General, Hair Cuttery, Roses Discount Store, Dragon China Restaurant and Med Emporium. Fred Victor of Atlantic Capital represented the seller, New York-based Moxie Equities, in the transaction. The buyer was United Properties.
Fresno, Calif. — Columbia, Maryland-based pickleball concept Dill Dinkers has signed a franchise agreement to open 10 new venues in the Central Valley region of California. Entrepreneurs Bill Revilla and Georgia Revilla will own and operate the locations, which will offer several indoor pickleball courts separated by fences, as well as event space, a ball machine and a reservation system for guests. Founded in 2022, Dill Dinkers currently has nine operating locations in the United States and more than 380 locations under development across Texas, Washington, D.C., North Carolina, Connecticut, South …
Miami — JLL Capital Markets has arranged the $62.1 million sale of Red Bird Center, a 92,089-square-foot retail center located in Miami. Milam’s Markets anchors the property, which was fully occupied at the time of sale. Additional tenants include Walgreens, Orion Fuels and Ace Hardware. Danny Finkle, Jorge Portela and Kim Flores of JLL’s Investment Sales and Advisory team represented the seller, Red Bird Associates, in the transaction. The buyer was Charlotte, North Carolina-based Asana Partners.
Vienna, W. Va. — Niles, Ohio-based Cafaro has acquired Grand Central Mall, a 908,238-square-foot shopping center located in Vienna, approximately five miles north of Parkersburg. The shopping center’s anchor space, which was formerly occupied by Sears, was recently redeveloped to accommodate a mix of tenants such as T.J. Maxx, HomeGoods, Ross Dress for Less and PetSmart. Cafaro is also planning a mall-wide renovation to create a fresh, modern and functional atmosphere. Opened in 1972 and situated on roughly 100 acres along the Ohio River, Grand Central Mall features more than 65 …
Shreveport, La. — SRS Real Estate Partners has brokered the $10.4 million sale of a single-tenant retail property in Shreveport. Academy Sports + Outdoors occupies the 72,525-square-foot building on an absolute triple-net, corporate guaranteed lease with 13 years remaining. Built in 2018, the property is situated on roughly 7.7 acres. Michael Berk, Patrick Nutt and Chip Watson of SRS Capital Markets represented the seller, a private investor, in the transaction. The buyer was a publicly traded REIT.
San Diego — PSRS has arranged $6.7 million in refinancing for a 65,000-square-foot shopping center located in San Diego. The two-building multi-tenant property is occupied by Smart & Final, AutoZone and Big 5 Sporting Goods. Additionally, Burger King occupies a drive-thru restaurant pad site on a ground lease. Trevan Swierczewski and Alexander Santulis of PSRS secured the nonrecourse loan that was structured with a 15-year term and 15-year amortization.
Columbus, Ohio — Columbus, Ohio-based Donatos Pizza is partnering with new franchise owners to open more than 50 locations across North Carolina and South Carolina. The agreements will create restaurants in Charlotte, Raleigh, Wilmington, High Point and Greensboro in North Carolina. In South Carolina, the pizza franchise will open four restaurants in Summerville, Boiling Springs, West Ashley and Fort Mill. Founded in 1963, Donatos Pizza operates more than 459 locations across 28 states, which includes more than 175 traditional restaurants and nearly 300 non-traditional locations, such as partnerships with Red …
Atlanta — Locally based 26th Street Partners has acquired Krog Street Market, a 30,000-square-foot adaptive reuse food hall and market in Atlanta’s Inman Park neighborhood, according to the Atlanta Business Chronicle. Charlotte-based Asana Partners sold the property, along with the adjacent Atlanta Stove Works, SPX Alley and Butler and Gravel buildings. The sales price was not reported, but Asana purchased the Krog District buildings in 2018 for $45.8 million. Paces Properties originally redeveloped the 1920s-era warehouse, which was also formerly used as the home of Tyler Perry Studios, into Krog Street …
Houston — JLL has arranged the sale and financing of Sugar Park Plaza, a 95,032-square-foot neighborhood retail center located in Houston. Renovated in 2016, Sugar Park Plaza features one in-line retail building and three pad sites. Marshalls anchors the center, which was fully leased at the time of sale, and includes a mix of 15 other tenants including Aga’s Restaurant & Catering, Skechers, Chase Bank, ExxonMobil and Magnum Staffing. Sugar Park Plaza was built in 1974 on nearly 30 acres. John Indelli and Ryan West of JLL represented the seller …
