Monroe, La. — Marcus & Millichap has brokered the $10.5 million sale of The Plaza One Shopping Center, a retail center located in Monroe. Super 1 Foods anchors the property, which totals 96,765 square feet. The center was fully leased at the time of sale. Zach Taylor and Philip Levy of Marcus & Millichap represented the seller, a Texas-based private investor, in the transaction. Steve Greer assisted in closing the sale as the Louisiana broker of record.
Culver City, Calif. and Austin, Texas — Sony Pictures Entertainment has acquired theater chain Alamo Drafthouse Cinema from Altamont Capital Partners, Fortress Investment Group and founder Tim League for an undisclosed price. Alamo Drafthouse was founded in 1997 in Austin, and has grown from a single mom-and-pop location to 35 cinemas across 25 metropolitan areas. The company is the seventh-largest theater chain in North America and was one of the pioneers of the in-theater elevated food and drink concept. Alamo Drafthouse will maintain its headquarters in Austin and will continue to …
Perris, Calif. — BWE has arranged $66.5 million in construction financing for a new phase of development at Plaza de Perris, a retail center located in Perris. Upon completion, the property will span 363,582 square feet and feature a Target location. Wood Investments, the borrower and developer, purchased the center in 2017 and previously completed the addition of 118,000 square feet of retail space at the property in 2019 and 2020. Upon completion of construction, Target will join the center as a tenant. Other tenants at the center, which was 99 …
Spring, Texas — Marcus & Millichap has brokered the sale of a 5,677-square-foot single-tenant retail property located in the northern Houston suburb of Spring. IHOP occupies the building, with 15 years remaining on the lease. John Paine of Marcus & Millichap represented the seller, Greenleaf Property Management, in the transaction. Paine also procured the buyer, a California-based 1031 exchange investor.
Charlotte, N.C. — Three new retailers have signed leases at The Pass, a mixed-use development currently underway in Charlotte. Vintage sportswear concept Locker Room CLT opened at the property in February, and hair salon Common Thread and Mariah’s Taco Spot are scheduled to join the lineup this fall. Third & Urban is the developer of the 12-acre project, and Cliff Benson of Thrift Commercial Real Estate leads retail leasing for the property.
Morrow, Ga. — ShopOne Centers REIT and Pantheon, with a global institutional investor, have acquired Publix at Mt. Zion, a 79,031-square-foot retail center located in Morrow, roughly 15 miles south of Atlanta. Publix anchors the property, which was 98.9 percent leased at the time of sale. The grocer has operated at the property for more than 30 years. The joint venture owns three additional retail properties in the Atlanta metro, including Sharon Greens in Cumming, Bethesda Walk in Lawrenceville and Kennesaw Walk in Kennesaw.
Venice, Fla. — Benderson Development has acquired a 51.5-acre parcel in Venice, Florida, with plans to develop a ground-up mixed-use project at the site. The property has been dubbed North River Marketplace during preliminary master planning. Benderson also owns the nearby retail properties Jacaranda Plaza and Cocoplum Village Shops.
Meridian, Idaho — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly constructed single-tenant property located in Meridian. Mister Car Wash will occupy the 5,381-square-foot property, which is situated on a one-acre parcel. Bill Asher, Carlos Lopez and Kevin Fryman of Hanley, in association with Jeff Selick of Oakmore Inc. and ParaSell Inc., represented the developer and seller, an affiliate of Cadence Capital Investments. Ralph Riedel of Cushman & Wakefield represented the buyer, a private investor based in Salt Lake City.
McAllen, Texas — Wetzel’s Pretzels has opened a Walmart bakery in McAllen, marking the first in the state of Texas. Walmart bakeries allow customers to enjoy the brand’s pretzels and other menu items in store. Alan Wilson is the owner and operator of the new unit.
Highland Village, Texas — Two new tenants have opened stores at The Shops at Highland Village, a retail center in Highland Village. Fitness Studio Body20 and beauty treatment center OrangeTwist now occupy 2,000 and 2,300 square feet at the center, respectively. Restaurant Drago House will also join the lineup later this year. JLL manages the property.
