“Retail has one very serious advantage as an asset class — it provides a lot of data. However, very few people actually look at the data,” says Sandy Sigal, president and CEO of NewMark Merrill. Historically, gathering data required landlords
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Retail, when it really boils down to it, is dictated by the almighty dollar. This, of course, means those who hold those dollars are in control. Consumers have been on quite the wild ride over the past 16 months, and
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Omaha, Neb. — NewStreet Properties has sold the 98,837-square-foot 72nd Crossing Shopping Center in Omaha for $12.7 million. Situated in the 72nd Street Corridor, the property was fully leased at the time of sale to tenants such as Michaels, PetSmart,
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Tuscon, Ariz. — Cushman & Wakefield has negotiated the sale of Shoppes at Cortaro Ranch, a newly constructed retail property located at 5660 W. Cortaro Farms Road in Tucson. Colorado-based Sonoma Heights acquired the asset from Terry Haute, Indiana-based Cortaro
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Corona, Calif. — Progressive Real Estate Partners has arranged the sale of a former Food 4 Less grocery store located at 109 N. McKinley St. in Corona. Expert Hardware Flooring acquired the property for $4.8 million. The buyer plans to
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Sewell, N.J. — JLL has negotiated the sale of Mill Pond Village, a 94,550-square-foot shopping center in Sewell, New Jersey. Grocery store ShopRite anchors the property, which was 98 percent leased at the time of sale to other tenants such
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Boca Raton, Fla. — ODP Corp. (Nasdaq: ODP), the parent company of Office Depot, has rejected USR Parent Inc.’s off-market transaction offer to acquire the Boca Raton-based retailer. USR, the parent company of office products retailer Staples and affiliate of
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Plainfield, Westfield and Fishers, Ind. — Hanley Investment Group Real Estate Advisors has represented a private investor in the acquisition of three retail properties in metro Indianapolis for $10.8 million. Dylan Mallory of Hanley represented the Bloomington, Indiana-based buyer. In
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Orlando, Fla. — JLL has negotiated the $9.1 million sale of Southgate Shopping Center, a 144,052-square-foot retail property in Orlando. Aldi anchors the site, which was 92 percent leased at the time of sale to tenants including AutoZone, dd’s Discount’s,
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Johnstown, Colo. — Marcus & Millichap has arranged the sale of Johnstown Plaza, a shopping center located at 4914 Thompson Parkway in Johnstown. A private developer sold the asset to an undisclosed buyer for $6.2 million. Built in 2017, the
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South Miami, Fla. — Midtown Opportunities, a real estate investment fund based in Miami, has purchased The Shops at Sunset Place in South Miami for $65.5 million. The open-air lifestyle property features nearly 515,000 square feet of retail and office
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Salt Lake City — Columbia Pacific Advisors Bridge Lending, a subsidiary of Columbia Pacific Advisors, has provided a $31.1 million loan for the construction of Campus SLC, a 130,000-square-foot property that will feature anchors winter sports retailer Evo and rock
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