Greensboro, N.C. — Legacy Realty Group Advisors has arranged the $6 million sale of Sedgefield Crossing, a 112,330-square-foot shopping center located in Greensboro. Family Dollar and USPS anchor the property. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented both the seller and buyer in the transaction.
South Jordan, Utah — Capstone Advisors has purchased Trail Crossing Shopping Center, a 38,397-square-foot retail center located in South Jordan, roughly 20 miles south of Salt Lake City. Smith’s Food and Drug, a subsidiary of The Kroger Co., anchors the property, which was built in 2017. Wright Development Group sold the center for an undisclosed price.
New York City — Rooftop Hospitality Group has signed a 12-year lease extension at 230 Fifth Ave. in New York City, where it occupies the roof of the New York Market Center building with its 230 Fifth Avenue Rooftop Bar concept. Comprising 32,050 square feet of indoor and outdoor space, the bar originally opened in 2006. GFP Real Estate, which has owned the property since 1958, is the landlord. Jane Gural-Senders, David Kaye and Harvey Richer represented the landlord in the lease negotiations on an in-house basis.
Goodyear, Ariz. — Gantry has secured a $29.2 million loan for the refinancing of Goodyear Centerpointe, a retail center located in Goodyear, a western suburb of Phoenix. Tenants at the property, which totals 320,000 square feet, include Conn’s Appliances, EoS Fitness, Urban Air, Hobby Lobby, Turner’s Outdoorsman and Goodwill Industries. Braden Turnbull, Patrick Barkley, Chad Metzger and Alicia Sabanero of Gantry arranged the 20-year financing on behalf of the borrower, Haagen Co. A life insurance company provided the loan.
Downers Grove, Ill. — Inland Private Capital Corp. (IPC) has sold a 101,157-square-foot retail property located in the southwest Chicago suburb of Downers Grove. Best Buy and Golf Galaxy occupy the development, with 62,860-square-foot and 38,297-square-foot spaces, respectively. IPC, through its subsidiary that serves as an asset manager, facilitated the sale of the property on behalf of Downers Grove Retail DST, one of IPC’s 1031 investment programs.
Fountain Valley, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.9 million sale of a single-tenant property located in Fountain Valley. McDonald’s occupies the 3,500-square-foot property on an absolute triple-net ground lease. Built in 2011, the development is situated on an outparcel adjacent to a Costco. Bill Asher and Jeff Lefko of Hanley, in association with Fred Encinas of Oaks Commercial Real Estate, represented the seller, a California-based family trust, in the transaction. Robert Tran of HPT Realty represented the buyer.
Stamford, Conn. — Three new retail tenants have signed leases at Atlantic Station, a mixed-use development located in Stamford. Lovesac, Golf Lounge 18 and Fresh & Co. will occupy 28,000; 9,000; and 3,000 square feet, respectively. RXR owns the project, which features 650 residences and 82,000 square feet of retail space across two towers. Brian Scruton of Cushman & Wakefield represented Lovesac in the lease negotiations, with Tim Rorick and Janey Steinmetz of Newmark representing the landlord. Tyler Lyman of True Commecial represented both the landlord and tenant in the Golf …
Deerfield, Ill. — Walgreens (NASDAQ: WBA) is set to close a significant portion of its store locations across the United States over the next three years. The company is finalizing its “footprint optimization program” after failing to meet earnings expectations in its fiscal third quarter, which ended May 31. Walgreens CEO Tim Wentworth reported in the company’s earnings call on Thursday morning that 25 percent of stores in the United States were not profitable, and that “changes are imminent” for those locations. The retail pharmacy chain currently runs about 8,600 locations …
Peoria, Ariz. — Vestar is underway on the development of The Shops at Lake Pleasant, a 90,000-square-foot retail center located in Peoria, roughly 15 miles outside Phoenix. The center, which is situated adjacent to Lake Pleasant Towne Center — another Vestar development — is scheduled to be fully open by spring 2025. Tenants currently open at the property include Raising Cane’s, Over Easy, Reformed Pilates, European Wax Center, Tropical Smoothie and Visionworks. Handel’s Ice Cream, Restore Fitness, Salad and Go, OHM Fitness, In-N-Out Burger, Classic & Fancy Nails, Honor Health and …
Flemington, N.J. — Marcus & Millichap has brokered the $7.5 million sale of a two-tenant retail center located in Flemington. Dean Zang, David Crotts, Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller, Paramount Realty, in the transaction. Aspen Dental and City MD Urgent Care occupy the property, which totals 7,388 square feet. Tom Georges of Northmarq represented the buyer, a local private investor.
