Retailers

JLL Negotiates Sale of 94,550-Square-Foot Shopping Center in Metro Philadelphia

by Alex Tostado January 20, 2021

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 as Inspira Health, Orangetheory fitness, Hair Cuttery and AAA. The asset is situated at 380 Egg Harbor Road, 19 miles south of downtown Philadelphia. Jim Galbally, Chris Munley, Jose Cruz, Colin Behr and Steve Simonelli of JLL represented the undisclosed seller in the transaction. Further details of the sale were …

January 20, 2021

Company news Florida News Retailers

Office Depot Parent Company Rejects Staples’ $2.1 Billion Acquisition Offer

by Alex Tostado January 20, 2021

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 Sycamore Partners, offered to buy ODP for $40 per share in an all-cash deal that would equate to roughly $2.1 billion. In a letter to Stefan Kaluzny, managing director of Sycamore Partners and a member of the board of directors at USR, ODP’s chairman of the board of directors Joseph …

January 20, 2021

Indiana Investment sales News Retailers

Three Retail Properties in Metro Indianapolis Trade Hands for $10.8 Million

by Alex Tostado January 19, 2021

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 Plainfield, Stafford Crossing is a 26,000-square-foot center home to Chicago’s Pizza, Big Red Liquors, Specks Pet Supply, UPS Store and Jack’s Donuts. Built in 2007, it was 91 percent leased at the time of sale. Carey Road Center in Westfield spans 13,043 square feet. It was also built in 2007. …

January 19, 2021

Florida Grocery-anchored Investment sales News Retailers

JLL Negotiates $9.1 Million Sale of Grocery-Anchored Shopping Center in Orlando

by Alex Tostado January 19, 2021

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, Aaron’s and Value Pawn. Additionally, the property can be expanded with the addition of a 6,000-square-foot future pad site and drive-thru ATM development opportunity. The asset spans 17 acres and is located at 4649 S. Orange Blossom Trail, four miles south of downtown Orlando. Brad Peterson, Whitaker Leonhardt and Tommy …

January 19, 2021

Colorado Investment sales News Retailers

Marcus & Millichap Brokers $6.2 Million Sale of Johnstown Plaza Retail Center in Colorado

by Alex Tostado January 19, 2021

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 property features 15,140 square feet of retail space. At the time of sale, the center was 100 percent occupied by Bad Daddy’s, Visionworks, Sprint, Berry Blendz, LUX NailBar and Honolulu Poke Bar. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller in the deal.

January 19, 2021

Florida Investment sales News Retailers

Midtown Opportunities Acquires Shops at Sunset Place in South Miami for $65.5M

by Alex Tostado January 18, 2021

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 space leased to tenants such as AMC Theatres and LA Fitness. A partnership between Federal Realty Investment Trust, Grass River Property Co. and Comras Co. sold the mixed-used development after more than five years of ownership. Midtown Opportunities has retained Grass River to manage the asset. Federal Realty, Grass River …

January 18, 2021

Development Finance Mixed-use News Retailers Utah

Columbia Pacific Advisors Provides $31.1 Million Construction Loan for Development of Campus SLC in Salt Lake City

by Alex Tostado January 18, 2021

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 climbing gym The Bouldering Project. The property will also feature local retailer L9 Sports, an art gallery, dining options, a skatepark and other recreational activities. Campus SLC will be situated at the former site of an industrial plant in Salt Lake City’s Granary district. Will Nelson of Columbia Pacific Advisors …

January 18, 2021

Florida Leasing News Retailers

Conn’s HomePlus to Open Two Stores in Metro Tampa

by Alex Tostado January 15, 2021

Tampa and Bradenton, Fla. — Conn’s HomePlus, a furniture, mattress and home appliances retailer, will open a store in Tampa’s Horizon Park shopping center and Bradenton’s Cortez Plaza on Feb. 5. The stores will combine to span more than 87,000 square feet. Horizon Park is located at 3908 W. Hillsborough Ave., six miles northeast of downtown Tampa. Cortez Plaza is situated at 4495 14th St. W., 43 miles south of downtown Tampa. Conn’s plans to host grand opening events at each store this spring. The Woodlands, Texas-based retailer operates 149 …

January 15, 2021

California Company news News Retailers

Petco Ends First Day of Trading 63 Percent Higher than IPO Price

by Alex Tostado January 15, 2021

San Diego — Petco ended its first day of trading on Nasdaq on Thursday at $29.40 per share, 63 percent higher than its initial public offering (IPO). The San Diego-based pet care retailer is trading under the stock symbol WOOF. Petco priced its IPO at $18 per share, and the stock price opened at $26 per share Thursday. Petco operates more than 1,500 stores in the United States, Puerto Rico and Mexico and sells food, toys and healthcare needs for a variety of pets. Additionally, more than 100 Petco locations …

January 15, 2021

Grocery-anchored Investment sales New Jersey News Retailers

Marcus & Millichap Arranges Sale of 138,445-Square-Foot Retail Property in Vineland, New Jersey

by Alex Tostado January 15, 2021

Vineland, N.J. — Marcus & Millichap has arranged the sale of Maintree Shopping Center, a 138,445-square-foot retail property located in the Southern New Jersey city of Vineland. The asset sold for $13.1 million. A 60,000-square-foot Acme grocery store anchors the property along with a Dollar Tree store. Kodi Traver, Joseph French Jr., Thomas Dalzell and Mark Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. Additional terms of sale were not disclosed.

January 15, 2021

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