Birmingham, Ala. — DRA Advisors LLC has sold The Colonnade, a 127,031-square-foot shopping center located in Birmingham.
Phoenix — Walmart has broken ground on a 148,000-square-foot Walmart Supercenter located at Metrocenter Mall in Phoenix.
Orlando and Bradenton, Fla. — Plaza Advisors has arranged the sale of two shopping centers located in Orlando and Bradenton, Florida.
Arroyo Grande, Calif. — PAQ Inc. has acquired a 63,737-square-foot vacant building located in Five Cities Center, a 467,000-square-foot power center located in the California Central Coast community of Arroyo Grande, with the intention of opening a new Food 4 Less location.
While California is experiencing a construction boom across all property sectors, the latest Allen Matkins/UCLA Anderson Forecast Survey of commercial real estate developers and investors provides the first indication of a “topping out” in the retail and office markets.
San Diego — The San Diego Port Authority Commission has selected a $1.2 billion project proposal anchored by a 480-foot observation tower to transform 70 acres of downtown San Diego’s waterfront.
Livermore, Calif. — Summit, New Jersey-based RedMill Capital has received a $38.6 million loan for the construction of The Shoppes at Livermore, a 120,000-square-foot retail center to be located in the San Francisco Bay Area community of Livermore.
Casa Grande, Ariz. — Marcus & Millichap has arranged the $3.4 million sale of a 3,616-square-foot, net-leased property occupied by Raising Cane’s in Casa Grande.
Santa Clara, Calif. — Irvine Co. Retail Properties has added seven new tenants to Santa Clara Square Marketplace, a 125,000-square-foot shopping center located in Silicon Valley.
Cumming, Ga. — Preferred Apartment Communities Inc. (PAC) has purchased Lakeland Plaza, a 301,711-square-foot shopping center located at the intersection of Georgia 400 and Highway 20 in Cumming.