Retailers

Federal Realty to Redevelop 90,000-Square-Foot Shopping Center in Northern Virginia

by Alex Tostado April 4, 2019

Springfield, Va. — Federal Realty Investment Trust has unveiled plans to redevelop Old Keene Mill, a 90,000-square-foot shopping center in Springfield, Virginia. Whole Foods Market, Planet Fitness and Walgreens anchor the center, which is situated at the corner of Old Keene Mill and Rolling roads 16 miles southwest of downtown Washington, D.C. Redevelopment plans include the addition of an outdoor fireplace, communal village design, new landscapes, wide sidewalks and new façade and signage. Completion is expected before Thanksgiving.

April 4, 2019

Investment sales Net lease News Ohio Retailers

Marcus & Millichap Arranges $2.7 Million Sale of Net-Leased Walgreens Property in Ohio

by Alex Tostado April 4, 2019

Delaware, Ohio — Marcus & Millichap has arranged the sale of a 14,490-square-foot property net leased to Walgreens for $2.7 million. The building is situated on 1.7 acres at 19 London Road in Delaware, Ohio, about 30 miles north of Columbus. The property was built in 2001. Walgreens recently extended its lease through 2026. Dan Yozwiak of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Brandon Hanna of Encore Real Estate Investment Services secured and represented the buyer, a private investor.

April 4, 2019

Investment sales New York News Retailers

Rafinia Property Group Orchestrates $2.2 Million Sale of Retail Strip in Upstate New York

by Alex Tostado April 4, 2019

Ogdensburg, N.Y. — Rafinia Property Group has arranged the $2.2 million sale of Seaway Shopping Center, a 102,796-square-foot retail strip in Ogdensburg, New York. The single-story strip center is configured to fit 15 retail spaces and is occupied by Save-A-Lot food stores, Peebles, Family Dollar and a mix of local and regional tenants. The property was constructed in 1960 and significantly upgraded in 2018. Evan Rafinia of Rafinia Property Group represented the undisclosed seller in the transaction. The buyer was a private investor based in New York City.

April 4, 2019

Investment sales Montana News Retailers

SSG Realty Partners Arranges Sale of Westwood Plaza Shopping Center in Montana

by Alex Tostado April 4, 2019

Great Falls, Mont. — SSG Realty Partners has arranged the sale of Westwood Plaza, a retail center located along the Northwest Bypass in Great Falls, Montana, for an undisclosed price. Originally developed as a Pay ‘N Save and Ernst Home Center, the 70,000-square-foot shopping center was renovated in recent years. The current tenant mix includes Ulta Beauty and T.J. Maxx. Greg Swedelson and Jon Eric Greene of SSG Realty Partners represented the seller and undisclosed buyer in the deal.

April 4, 2019

Development New Jersey News Retailers

Hampshire Cos., Pinnacle to Redevelop Retail Plaza in Montclair, New Jersey

by Alex Tostado April 2, 2019

Montclair, N.J. — The Hampshire Cos., along with joint venture partner Pinnacle Cos., have announced plans to redevelop Lackawanna Plaza in Montclair. The planned 216,772-square-foot mixed-use redevelopment is expected to revitalize the complex through the development of a range of modern retail, office and residential spaces while preserving historical elements of the station. Originally built in 1913, Lackawanna Plaza was a stop on the Delaware, Lackawanna and Western Railroad until the station’s closure in 1981. The site will be anchored by a 28,509-square-foot Lidl grocery store. In addition to Lidl, …

April 2, 2019

Florida Investment sales News Retailers

Marcus & Millichap Arranges $14.2 Million Sale of Retail Center in Southwest Florida

by Alex Tostado April 2, 2019

Bonita Springs, Fla. — Marcus & Millichap has arranged the $14.2 million sale of North Bay Village, a 114,545-square-foot retail property in Bonita Springs. North Bay Village was 73 percent occupied at the time of the sale, and the buyer, a private investor through a 1031 exchange, signed long-term leases with Hertz, Emaint and Keller Williams Real Estate to bring the asset to 98 percent occupancy. Other tenants include Bonefish Grill, Mattress Firm and Edible Arrangements. Jim Shiebler, James Garner and James Medefind of Marcus & Millichap represented the seller, …

April 2, 2019

California Investment sales News Retailers

Hanley Investment Group Negotiates $5.6 Million Sale of Two Retail Pads in Ontario, California

by Alex Tostado April 2, 2019

Ontario, Calif. — Hanley Investment Group Real Estate has arranged the sale of two retail pad buildings, totaling 21,591 square feet in Ontario, in two separate transactions totaling $5.6 million. The properties are part of a Walgreens-anchored neighborhood center, which was built in 2007. Kevin Fryman of Hanley Investment Group represented the seller, an Ontario-based private developer, in both transactions. In the first deal, a Southern California-based private investor acquired a two-tenant, 13,381-square-foot building, situated on 1.3 acres at 2645 E. Riverside Drive, for $3.2 million. A 7,200-square-foot O’Reilly Auto …

April 2, 2019

Investment sales News Ohio Retailers

Cooper Group Arranges $2.7 Million Sale of Retail Center Near Columbus, Ohio

by Alex Tostado April 2, 2019

Johnstown, Ohio — Cooper Commercial Investment Group has arranged the sale of Kyber Run in Johnstown near Columbus for $2.7 million. The 15,292-square-foot retail center is home to five tenants and is shadow-anchored by Kroger. Bob Havasi and Dan Cooper of Cooper Commercial represented the seller, an East Coast-based private investment group. The sales price represents a cap rate of 7.95 percent.

April 2, 2019

Leasing News Ohio Retailers

J. Crew, Sephora Join Retail Lineup at Pinecrest in Cleveland

by Alex Tostado April 1, 2019

Cleveland — J. Crew and Sephora are the latest retail tenants to join Pinecrest, a 750,000-square-foot mixed-use development in Cleveland’s Orange Village. The retailers are set to open later this year. J. Crew will occupy 5,700 square feet and Sephora will occupy 5,500 square feet across from Pottery Barn. Previously announced tenants at the Fairmount Properties-developed Pinecrest include REI, West Elm, Shake Shack and Vineyard Vines.

April 1, 2019

Investment sales News Retailers Texas

Baceline Investments Acquires Austin Shopping Center for $4.2 Million

by Alex Tostado April 1, 2019

Austin, Texas — Baceline Investments LLC, a Denver-based boutique real estate investment firm, has acquired Dakota Plaza, a 21,700-square-foot retail center in Austin, for $4.2 million. The property, which was built in 2006 and is located at 8516 Anderson Mill Road, was acquired in conjunction with shopping centers in Milwaukee, Louisville, Kentucky; and Maybrook, Illinois.

April 1, 2019

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