Lenexa, Kan. — Block & Co. Inc. Realtors has completed the lease-up of a former Stein Mart anchor space at Orchard Corners, a shopping center located in Lenexa near Kansas City. Petco will occupy the remaining 18,500-square-foot endcap space, joining Sierra in backfilling the 37,000-square-foot space formerly occupied by Stein Mart. David Block of Block & Co. represented ownership in the lease negotiations. Anchor tenants at Orchard Corners include Nordstrom Rack, T.J. Maxx, HomeGoods and Michaels.
Fort Myers, Fla. — The Sembler Co. and Forge Capital Partners are underway on the redevelopment of Daniels Crossing, a Publix-anchored retail center located in Fort Myers. Scheduled for completion in summer 2025, the project includes the demolition of the existing 48,890-square-foot Publix and 4,700 square feet of inline space. Once complete, the redevelopment will feature a new, 48,387-square-foot Publix and adjacent 3,010-square-foot Publix Liquors. Other tenants at the property include Duck Donuts, Millenium Physician Group, Potts Sport Café, Quest Diagnostics, School of Rock, Subway, Sugaring NYC and The UPS Store.
San Leandro, Calif. — Colliers Mortgage has secured a $33 million bridge loan to refinance Bayfair Mall in San Leandro. The 715,000-square-foot property is being redeveloped into a mixed-use retail power center and R&D campus in San Leandro. Shahin Yazdi, Jonathan Lee, Tommy Adelson and William Hyatt of Colliers arranged the financing, which includes a 36-month term with optional extensions, on behalf of the borrower, B3 & Gaw. The borrower’s multi-phase business plan includes closing the indoor corridors of the mall, renewing leases for existing retail tenants and filling vacancies with …
Gallup, N.M. — Faris Lee Investments has brokered the $12.9 million sale of Zecca Plaza, a 110,593-square-foot shopping center located in Gallup. Alberstons anchors the property. Other tenants at the center include Goodwill and O’Reilly Auto Parts. Don MacLellan and Chris DePierro of Faris represented both the seller and buyer in the transaction.
Great Falls, Mont. — SSG Realty Partners and Hanley Investment Group Real Estate Advisors have arranged the sale of Westwood Plaza, a 69,909-square-foot shopping center located in Great Falls. T.J. Maxx, Staples, Dollar Tree, Ulta Beauty and Mattress Firm anchor the property, which was fully leased at the time of sale. Greg Swedelson and Jon-Eric Greene of SSG and Bill Asher and Beau Velten of Hanley represented the seller, a Michigan-based private investor, in the transaction. Westwood Plaza was originally built in 2017.
Branford, Conn. — HB Nitkin Group has sold Lockworks Square, a four-building retail center located in Branford, for $7.3 million. Tenants at the property, which totals 35,600 square feet, include SaltBrick Prime, Lockworks Tavern, Cheri’s Bakery, Digestive Disease Associates, Physical Therapy and Sports Medicine Centers and Branford Tech Team. Will Braun of O,R&L Commercial represented the seller in the transaction and procured the buyer, an entity doing business as 155 New Road Madison LLC. Braun managed leasing at the center on behalf of HB Nitkin Group prior to the sale.
Manitowoc, Wis. — Axiom Realty has acquired Park Plaza, a 110,266-square-foot retail center located in Manitowoc. Time Equities sold the property, which was 71.7 percent leased at the time of sale. Hobby Lobby anchors the center. Other tenants at the property include Community First Credit Union, Family Dollar and Cricket Wireless. Erin Patton of Patton Wiles Fuller Group of Marcus & Millichap’s Institutional Property Advisors (IPA) brokered the transaction. Prior to closing, Axiom negotiated a 28,894-square-foot lease with a new tenant that will bring occupancy at the center to 97.9 percent.
Orlando, Fla. — Orlando-based Italian dining chain Buca di Beppo has voluntarily filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. The restructuring will involve 44 core restaurants, as well as a new store currently being opened. According to a press release issued by the company, it is “committed to ensuring that the restaurants operate as usual.” Gray Reed & McGraw LLP is serving as legal advisor, and CR3 Partners LLC is acting as financial advisor, as well as providing corporate leadership as the chief restructuring officer. Stout Capital …
Milton, Ga. — Knuckies Hoagies, a sandwich concept founded in Milton in 2019, has announced a new partnership with Walmart. The brand has executed leases to open restaurants within 14 Walmart stores across six states, including Georgia, South Carolina, North Carolina, Oklahoma and Texas. According to a press release issued by the Knuckies Franchise Co., the partnership offers “a built-in customer base and prime locations.”
Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.3 million pre-sale of a single-tenant property located in Rancho Cordova, roughly 13 miles outside Sacramento. Situated on a 0.8-acre parcel within the Anatolia Marketplace shopping center, the building totals 2,325 square feet. Chipotle Mexican Grill has signed a triple-net ground lease at the property. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC, in the transaction. Chipotle is scheduled to open at the property in September.