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FinanceNewsOhio

BWE Secures $31.8 Million Refinancing for Shopping Center in Ohio

by Hayden Spiess

Fairlawn, Ohio — BWE has secured a $31.8 million loan for the refinancing of Market Square at Montrose, a shopping center located in Fairlawn, roughly 30 miles outside Cleveland. Totaling 506,870 square feet, the property was 88 percent leased at the time of financing. The Home Depot anchors the center, and other tenants include Dick’s Sporting Goods, Staples, Cost Plus World Market, Steak ‘N Shake and Golf Galaxy. Brian Bruening of BWE arranged the floating-rate financing on behalf of the undisclosed borrower. 

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DevelopmentNewsTexas

Collett & Associates, Alexander Family to Develop $25 Million Retail Project in Metro San Antonio

by Hayden Spiess

Seguin, Texas — A joint venture between Collett & Associates and the Alexander Family will develop a $25 million retail project in Seguin, roughly 35 miles outside San Antonio. Upon completion, the development will comprise more than 135,000 square feet of retail space. Tenants at the property will include Hobby Lobby, Five Below, James Avery and an undisclosed sporting goods retailer, among others. Construction is scheduled to begin by the end of 2024, with openings scheduled for fall 2025. 

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Investment salesNewsOregon

Hanley Brokers $13 Million Sale of Keizer Village Shopping Center in Keizer, Oregon

by Hayden Spiess

Keizer, Ore. — Hanley Investment Group Real Estate Advisors has brokered the $13 million sale of Keizer Village Shopping Center in Keizer, roughly 45 miles southwest of Portland. Physiq Fitness and The Thrift Store anchor the property, which totals 76,785 square feet. The center, which was built in 1962 and renovated in 2004, was 99 percent occupied at the time of sale by tenants including Little Caesar’s Pizza, Metro by T-Mobile, Subway and US Market. Kevin Fryman of Hanley, in association with ParaSell Inc., represented the seller — Cumberland Holdings LLC …

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Shops-at-Grove_Edmond-Okla
Investment salesNewsOklahoma

CBRE Arranges Sale of 16,400-Square-Foot Shopping Center in Edmond, Oklahoma

by Hayden Spiess

Edmond, Okla. — CBRE has arranged the sale of Shops at Grove, a 16,400-square-foot shopping center located in Edmond. Tenants at the center, which was 92 percent occupied at the time of sale, include AT&T, Qdoba, Great Clips, Inaka Sushi, Sun Lounge and Bloom Beauty Nail and Spa. An entity doing business as HD Investments LLC acquired the property from an entity doing business as South Hampton Center LLC for an undisclosed price. Michael Austry, Jared Aubrey, Stuart Graham and Mark Inman of CBRE represented the seller in the transaction. 

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The Meridian
DevelopmentGrocery-anchoredMixed-useNewsPennsylvania

Greystar, ECHO Realty Break Ground on Multifamily, Retail Development in Pittsburgh

by Hayden Spiess

Pittsburgh — A joint venture between Greystar and ECHO Realty has broken ground on Ophelia and The Meridian, a multifamily and retail project located at the intersection of Penn and Shady avenues in Pittsburgh.  The development will include Ophelia, a 231-unit multifamily project by Greystar; The Meridian, a 44,000-square-foot retail development spearheaded by ECHO Realty; and parking for both retail and residential uses. Ophelia will offer units in studio, one- and two-bedroom configurations, 35 of which will be subject to income restrictions under the city’s affordable housing program. Shared amenities will …

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DevelopmentNewsRestaurantsTexas

MLSA Ventures Announces Plans for 49,993-Square-Foot Food and Beverage Redevelopment of La Villita Assembly Hall in San Antonio 

by Hayden Spiess

San Antonio — MLSA Ventures has announced plans to redevelop the historic La Villita Assembly Hall in San Antonio into a food and beverage project featuring 49,993 square feet of leasable space. Renovations to the building, which was originally constructed in 1958, are scheduled to begin in the second quarter of 2025. In addition to space for food and beverage concepts, the redevelopment will include public patios and a large outdoor bar with a beer garden. Completion is expected for 2027. The project team includes Ford, Powell and Carson as the …

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Trails-620_Austin-Texas
Investment salesNewsTexas

Partners Capital Sells 69,037-Square-Foot Retail Property in Austin, Texas

by Hayden Spiess

Austin, Texas — Partners Capital has sold Trails at 620, a retail property totaling 69,037 square feet across seven buildings in Austin. Shea Petrick and Chris Gerard of JLL represented Partners, which acquired the property in October 2020,  in the disposition. Trails at 620 was the last property remaining in Partners’ Fund III. 

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Company newsNew YorkNews

Whole Foods Market Opens First Small-Format Store in New York City

by Hayden Spiess

New York City — Whole Foods Market has opened the first of its new small-format stores in New York City. Situated within the Upper East Side, the Whole Foods Market Daily Shop comprises 9,101 square feet. In addition to produce, meat, seafood and other groceries, the store features a Juice & Java venue, prepared foods and single-serve hot bowls and meals. Two additional small-format stores are scheduled to open within the city as well, in the East Village StuyTown development and Hell’s Kitchen.  

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CaliforniaCompany newsNews

Daiso to Open Two New Stores in California

by Hayden Spiess

Cucamonga and Gilroy, Calif. — Japanese retail chain Daiso has announced that it will open two new stores in California this month. Located in Cucamonga and Gilroy, the stores total 15,343 and 10,004 square feet, respectively. Daiso — which offers products including Japanese inspired home décor, stationery and food — first entered the U.S. market in 2005. 

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Price-Chopper-Plaza-Binghamton
Grocery-anchoredInvestment salesNew YorkNews

IPA Negotiates $14 Million Sale of Upstate New York Shopping Center

by Katie Sloan

Binghamton, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14 million sale of Price Chopper Plaza, a 127,000-square-foot shopping center located in the upstate New York community of Binghamton. Regional grocer Price Chopper has been the anchor tenant at the center, which was 97 percent leased at the time of sale, since 1987. Other tenants include Planet Fitness, Big Lots and Dollar Tree. Jim Koury of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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