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CaliforniaInvestment salesNewsRetailers

Lucescu Realty Negotiates Sales of Two Shopping Centers in Northern California for $24.6 Million

by Alex Tostado

Oroville and Auburn, Calif. — Lucescu Realty has arranged the sales of two shopping centers located in Northern California. Community Centers of America sold the properties for a total of $24.6 million. A Sacramento, California-based private development/investment company acquired Currier Square, a 131,017-square-foot, open-air community shopping center in Oroville, for $14.8 million. At the time of sale, the property was 88.5 percent leased to a variety of tenants, including Raley’s Grocery, Marshalls and Petco. The asset also includes four out-pad parcels positioned for redevelopment/buildout. A Los Angeles-based private investor purchased …

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DevelopmentFloridaNewsRetailers

Blackwater, Hutton Complete 161,000-Square-Foot Shopping Center Near Tampa

by Alex Tostado

Trinity, Fla. — A partnership between two developers, Alabama-based Blackwater Real Estate and Tennessee-based Hutton, has completed The Village at Mitchell Ranch, a 161,000-square-foot shopping center near Tampa. A 30,0000-square-foot Sprouts Farmers Market anchors the property, which is located at the intersection of State Route 54 and Little Road in Trinity. Other anchors include HomeGoods, Michaels, Five Below, Skechers and Ulta Beauty. Restaurant users include Burger King, Chipotle Mexican Grill and Panda Express, with more to be announced in the coming months.

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Investment salesKansasNewsRetailers

NKF Brokers Sale of Towne West Square Regional Mall in Wichita, Kansas for $14 Million

by Alex Tostado

Wichita, Kan. — Newmark Knight Frank (NKF) has brokered the sale of Towne West Square in Wichita for $14 million. The regional mall spans nearly 900,000 square feet and is situated on 46 acres at 4600 W. Kellogg Drive. It opened in 1980. Anchor tenants include Dick’s Sporting Goods, Dillard’s Clearance Center, JC Penney and Regal Cinemas. Shopping mall investment company Kohan Retail Investment Group purchased the asset. Kohan focuses on distressed properties with value-add opportunities. Thomas Dobrowski of NKF represented the seller. In February, ownership of the mall was …

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FloridaInvestment salesNewsRetailers

SRS Arranges $11.8 Million Sale of Retail Center in Central Florida

by Alex Tostado

Viera, Fla. — SRS Real Estate Partners has negotiated the $11.8 million sale of Viera Colonnade Shops, a 27,051-square-foot retail center comprising three buildings, in Viera. The asset is situated at 2328, 2338 and 2348 Citadel Way, 35 miles east of downtown Orlando. The property was delivered in 2017 and 2018. Viera Colonnade is fully leased to 14 tenants, including UPS, Jersey Mike’s, Great Clips, Mattress One and Blaze Pizza. Additionally, all 14 tenants recently signed brand new 10-year triple-net leases with extension options. Patrick Luther and Matthew Mousavi of …

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Investment salesMassachusettsNewsRetailers

NKF Brokers $10.2 Million Sale of Retail Center in Springfield, Massachusetts

by Alex Tostado

Springfield, Mass. — Newmark Knight Frank (NKF) has brokered the $10.2 million sale of Springfield Commons, a 182,400-square-foot retail center located in the southwestern Massachusetts city of Springfield. Walmart anchors the property, which also houses tenants such as Dollar Tree and Sonic. Geoffrey Millerd, Justin Smith, Paul Penman, Samantha Torto and Robert Griffin represented the undisclosed seller and procured the buyer, Paramount Realty Services Inc.

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Company newsMallsNewsPennsylvaniaRetailers

GNC to Close Up to 900 Stores by End of 2020; Retail Analyst Offers Insight

by Alex Tostado

Pittsburgh — The vitamin and health supplement niche of the brick-and-mortar retail market continues to experience intense competitive pressure, observes veteran retail consultant Jeff Green. So it came as no surprise to Green when GNC Holdings Inc. (NYSE: GNC) officials revealed in a second-quarter earnings call earlier this week that it will shutter up to 900 stores in North America by the end of 2020. “It used to be that specialty health supplements were only found in specialty stores such as GNC, Vitamin Shoppe and other regional chains,” says Green, …

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CaliforniaDevelopmentMixed-useNewsRetailers

San Francisco Planning Commission Approves 2.3 Million-Square-Foot Flower Mart Redevelopment Project

by Alex Tostado

San Francisco — The San Francisco Planning Commission has unanimously approved plans to redevelop the historic Flower Mart in the city’s South of Market (SoMa) district as a 2.3 million-square-foot mixed-use property. Kilroy Realty Corp. is leading the development, which will preserve and update the 115,000-square-foot Flower Mart, while also adding 2.1 million square feet of creative office space, a 100,000-square-foot retail market hall and one acre of public open space. The project still requires approval from the San Francisco Board of Supervisors and the city’s mayor, which Kilroy hopes …

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Investment salesNew HampshireNewsRetailers

JLL Negotiates Sale of 148,102-Square-Foot Shopping Center in Milford, New Hampshire

by Alex Tostado

Milford, N.H. — JLL has negotiated the sale of Lordens Plaza, a 148,102-square-foot shopping center in Milford, which is located near Nashua just inside New Hampshire’s southern border. Shaw’s Supermarket anchors the property, which is located at the intersection of State Routes 101 and 101A. Other tenants include Rite Aid and Fresenius Medical Care. Nat Heald and Chris Angelone led the JLL team on behalf of the seller, LNR. Seattle-based Bridge33 Capital was the buyer.

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Investment salesNewsRetailersTexas

Sperry Commercial Brokers Sale of 42,594-Square-Foot Shopping Center in Dallas

by Alex Tostado

Dallas — Sperry Commercial has brokered the sale of Stemmons Center, a 42,594-square-foot shopping center located at 2629 N. Stemmons Freeway in Dallas. According to LoopNet Inc., the property was built on 4.4 acres in 1979. Calvin Wong and Daniel Eng of Sperry Commercial represented the buyer and the seller, both of which requested anonymity, in the transaction.

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Investment salesNewsRetailersTexas

MIMCO Acquires 32,000-Square-Foot Shopping Center in Austin

by Alex Tostado

Austin, Texas — MIMCO, an El Paso-based retail investment firm, has acquired Four Corners Shopping Center, a 32,000-square-foot retail center located at the intersection of South Congress Street and William Cannon Drive in Austin. Tenants include Austin Regional Clinic, Popeye’s Louisiana Kitchen and Schlotzsky’s Deli. The seller was not disclosed. With this transaction, MIMCO’s Central Texas portfolio now spans more than 2 million square feet of shopping center space.

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