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Central Texas Marketplace
Investment salesNewsPower centersTexas

JLL Negotiates Partial Sale of Central Texas Marketplace in Waco, Texas

by Abby Cox

Waco, Texas — JLL Capital Markets has negotiated the sale of a portion of Central Texas Marketplace, a 526,000-square-foot power center located in Waco. A James Nix entity doing business as G3C Operating LLC purchased a 181,708-square-foot component of the center, which features Sprouts Farmers Market, Best Buy, Office Depot and Burlington. Adam Howells, Barry Brown, Erin Lazarus and Brennan Fewin of JLL’s Investment Sales and Advisory team represented the seller, Ball Ventures, in the transaction. Built between 2005 and 2015, Central Texas Marketplace is anchored by Cabela’s. Other tenants …

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Bradley Place
Investment salesNewsPower centersTennessee

Atlantic Capital Partners Arranges Sale of Bradley Place in Suburban Chattanooga for $24.5 Million

by Abby Cox

Cleveland, Tenn. — Atlantic Capital Partners, the Capital Markets division of Atlantic Retail, has sold Bradley Place, a 118,082-square-foot power center located in the northeast Chattanooga suburb of Cleveland, for $24.5 million. HomeGoods, T.J. Maxx, PetSmart and Ulta Beauty anchor the property, which was fully leased at the time of sale. A portion of Bradley Square Mall was redeveloped in 2019 to create space to accommodate Bradley Place. Fred Victor, Sam Koonce, Teddy Driscoll and Matt Ericson of Atlantic Capital Partners represented the seller. The buyer was not disclosed.

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Architecture and DesignDevelopmentEconomic DevelopmentEntertainmentFeaturesFinanceLeasingMixed-usePower centersRetailersVideosWebinar

Webinar: From Roadblocks to Results: Making Mixed-Use Work in Today’s Market

by Sarah Daniels

The September 17 Shopping Center Business webinar “From Roadblocks to Results: Making Mixed-Use Work in Today’s Market,” hosted by Shopping Center Business and sponsored by KTGY, focused on some of the most dynamic and challenging sectors of retail real estate today: mixed-use developments.  The panelists covered strategies to make these projects work, including the importance of early stakeholder engagement, working with property owners, municipal leaders and community members, as well as ensuring that projects align with local needs and long-term visions.  These retail experts also discussed these key topics and more: Watch this brief webinar …

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Crossroads at Terrell
FinanceNewsPower centersTexas

BWE Arranges $36 Million in Refinancing for Crossroads at Terrell in Metro Dallas

by Abby Cox

Terrell, Texas — BWE has arranged $36 million in refinancing for Crossroads at Terrell, a 260,877-square-foot power center located in Terrell, roughly 32 miles east of Dallas. Completed between 2022 and 2024 on nearly 30 acres, the center is anchored by Hobby Lobby and Academy Sports + Outdoors. Other tenants include Burke’s Outlet, Marshalls, Petco, Ulta Beauty and Rack Room Shoes. Matt Good of BWE’s Greenville, South Carolina, office originated the fixed-rate loan from a life insurance company lender on behalf of the borrower, a national retail developer.

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Winter Garden Village
FloridaInvestment salesNewsPower centers

CBRE Brokers $165 Million Sale of Winter Garden Village Shopping Center in Central Florida

by Abby Cox

Winter Garden, Fla. — CBRE has brokered the sale of Winter Garden Village, a 629,326-square-foot power center located in Winter Garden, a western suburb of Orlando. The Orlando Business Journal reports that an affiliate of New York City-based RREEF Property Trust purchased the center for $165 million. Dennis Carson, Casey Rosen, Michael Etemad and Sriram Rajan of CBRE represented the seller, Beachwood, Ohio-based SITE Centers, in the transaction. Curbline Properties, an affiliate of SITE Centers, retained 130,563 square feet of single- and multi-tenant outparcels at Winter Garden Village. The retail …

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FinanceMassachusettsNewsPower centers

Urban Edge Properties Closes $123.6 Million in Financing for 752,000-Square-Foot Shopping Center Near Boston

by Abby Cox

Framingham, Mass. — New York City-based Urban Edge Properties (NYSE: UE) has closed on a $123.6 million interest-only mortgage for a portion of Shoppers’ World, a 752,000-square-foot super regional power center located in Framingham, a western suburb of Boston. The four-year Secured Overnight Financing Rate (SOFR) loan was swapped and converted to a 5.12 percent fixed interest rate. The company then used a portion of the proceeds from the financing to pay off the $90 million outstanding balance on its line of credit with its original 5.48 percent interest rate. …

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Palm Beach Promenade
Company newsFloridaGeorgiaGrocery-anchoredNewsPower centers

Pine Tree to Manage Two Shopping Centers Totaling 700,000 Square Feet 

by Abby Cox

West Palm Beach, Fla. and Buford, Ga. — Northbrook, Illinois-based Pine Tree has been selected to provide management services for two shopping centers owned by Invesco, which total 700,000 square feet. The properties include the Palm Beach Promenade in West Palm Beach, Florida, and Georgia Crossing in Buford, Georgia. Pine Tree’s Southeast management portfolio now totals 3.8 million square feet. The 300,000-square-foot Palm Beach Promenade is anchored by Whole Foods Market and features a mix of more than 100 tenants including Ross Dress For Less, TJ Maxx, Marshalls, HomeGoods and …

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Georgia Crossing
GeorgiaInvestment salesNewsPower centers

Invesco Real Estate Acquires 317,201-Square-Foot Power Center in Metro Atlanta for $82 Million

by Abby Cox

Buford, Ga. — Invesco Real Estate has acquired Georgia Crossing, a 317,201-square-foot power center located in Buford, roughly 38 miles north of Atlanta, for $82 million. Situated across from the 1.7 million-square-foot Mall of Georgia, Georgia Crossing was fully leased to a mix of tenants including TJ Maxx/HomeGoods, Nordstrom Rack, Best Buy, Hobby Lobby, Staples, Cavender’s Boot City and Ulta Beauty at the time of sale. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL’s Investment Sales and Advisory team represented the seller, Washington Prime Group, in the transaction.

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CaliforniaLeasingNewsPower centers

Majestic Signs Leases with Four New Tenants Across Southern California Retail Portfolio

by Abby Cox

Redlands, Calif. and Walnut, Calif. — Majestic Realty Retail, a division of Majestic Realty Co., has signed leases with four new tenants across its Southern California retail portfolio. Burlington Stores has already opened at Citrus Plaza, a 545,000-square-foot regional lifestyle power center located in Redlands. Total Wine & More and Handel’s Homemade Ice Cream have also opened at Mountain Grove, Citrus Plaza’s 470,000-square-foot sister project. Additionally, Einstein Bros. Bagels has secured a space at The Village Shopping Center, a 129,000-square-foot shopping center situated in the Los Angeles suburb of Walnut. Main …

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The Promenade at Brentwood
Investment salesMissouriNewsPower centers

CBRE Brokers $71.6 Million Sale of Power Center in Brentwood, Missouri

by Abby Cox

Brentwood, Mo. — CBRE has brokered the sale of The Promenade at Brentwood, a 337,800-square-foot power center in the western St. Louis suburb of Brentwood. The sale price was $71.6 million. Tenants at the property include Target, Trader Joe’s, Burlington, Five Below, PetSmart, Ulta Beauty, World Market and Chase Bank. CBRE’s NRP Midwest team represented the seller, Beachwood, Ohio-based SITE Centers, in the transaction. Haverford Retail Partners was the buyer.

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