New York City — ShopOne Centers REIT has promoted Chris Reed to chief executive officer. Reed joined the company in 2020 as vice president of acquisitions and most recently served as chief investment officer. Former CEO John Roche will now transition to the role of chairman with ShopOne. Additionally, chief operating officer Mike Makinen has been appointed president of the company. Makinen joined ShopOne in 2021 with more than 25 years of retail real estate experience, including roles with SITE Centers, Equity One and Olshan Properties.
Robersonville, N.C. and West Chester, Ohio — Bernard Financial Group (BFG) has arranged a $5.5 million loan to finance a retail portfolio located in North Carolina and Ohio. Dan Duggan of BFG secured the financing through Symetra Life Insurance Co. on behalf of the borrower, an entity doing business as FND OHIO LLC & DGMKT IOWA LLC. The portfolio totals 85,957 square feet across two properties in Robersonville, North Carolina, and West Chester, Ohio.
Sun Valley, Idaho — Idaho-based Thomas Co. has arranged the $185 million sale-leaseback of a CVS/pharmacy portfolio. Situated within 16 states, the portfolio comprises 355,000 square feet across 28 stores. The properties, which will operate on a triple-net-lease basis, were free of debt at the time of sale.
New York City — PHOENIX — a new direct to consumer (DTC) platform led by WHP Global in collaboration with an affiliate of Simon Property Group, Brookfield Properties and Centennial Real Estate — has acquired the majority of apparel brand Express’ retail operating assets. PHOENIX is now the operator of the entirety of the brick-and-mortar and e-commerce portfolio of both Express and Bonobos, which features more than 450 physical stores.
Denver — Fast-casual food-and-beverage brand Smalls Sliders has signed a new, 10-unit franchise deal in Colorado, marking the concept’s first entry into the state. An entity doing business as Mountain Sliders LLC will own and operate the restaurants, which will be situated in metro Denver. Locations will include Boulder, Longmont, Greeley and Fort Collins, with the first unit scheduled to open in 2025.
Spanish Fort, Ala. — JLL has arranged the $33.2 million sale of Eastern Shore Centre, a 432,158-square-foot shopping center located in Spanish Fort, a suburb of Mobile. Jim Hamilton, Brad Buchanan and Andrew Nichols of JLL represented the seller, Allied Development, in the transaction. Chip Sykes, Hunter Goldberg, Hamp Gibbs and Mikey Minihan, also of JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, Wicker Park Capital Management. Dillard’s anchors the property. Other tenants at the center include Belk, Shoe Station, Barnes & Noble, Stock & Trade, …
Naples, Fla. — Benderson Development has acquired Carillon Place, a 250,000-square-foot retail center located in Naples. Tenants at the property, which was 92 percent leased at the time of sale, include T.J. Maxx, DSW and Walmart. Other recent acquisitions in the state for Benderson include North River Marketplace, Glengary Shoppes and Linton Commons.
Washington, D.C. — Gantry has secured a $22.3 million loan for the acquisition of Cityline at Tenley, a retail center located in Washington, D.C. Tenants at the property, which totals 89,000 square feet and is situated within a mixed-use development, include Target, Ace Hardware and Bank of America. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the seven-year, fixed-rate financing on behalf of the borrower, Lincoln Property Co. A life insurance company provided the loan.
DICK’S House of Sport to Open 100,000-Square-Foot Store at Live Oak Town Center in Metro San Antonio
Live Oak, Texas — DICK’S House of Sport has signed a 100,000-square-foot lease at Live Oak Town Center, a mixed-use development in Live Oak, roughly 20 miles northeast of San Antonio. The store will feature sportswear and equipment, as well as interactive experiences including a climbing wall, outdoor field, golf bays and a multi-sport cage. David Nicolson and Michael Schoenbrun of Weitzman arranged the lease. Weitzman is developing Live Oak Town Center, which is anchored by IKEA, in phases. Upon completion, the property will comprise more than 800,000 square feet of …
Barrington, Ill. — An affiliate of Next Realty LLC has sold The Shops at Flint Creek in the northwest Chicago suburb of Barrington to a private investor for an undisclosed price. Heinen’s anchors the 60,000-square-foot property. Additional tenants at the center include Athletico, Ascension Medical Group Illinois, Epic Burger and Club Pilates. Sean Sharko of Marcus & Millichap represented Next, which purchased the property in 2014, in the transaction.