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AlabamaInvestment salesNewsRetailers

SRS Arranges $3.5 Million Sale of Retail Property in Huntsville, Alabama

by Alex Tostado

Huntsville, Ala. — SRS Investment Properties Group has arranged the $3.5 million sale of The Fountain, a 38,338-square-foot retail property in Huntsville. Costco and The Home Depot shadow anchor the multi-tenant retail strip, which spans 3.9 acres. The Fountain was fully leased at the time of sale to tenants including Staples, Citi Trends and Shoe Show. The property is situated at 1201 N. Memorial Parkway, just north of downtown Huntsville. Boris Shilkrot and Pierce Mayson of SRS represented the seller, Somera — 1201 North Memorial Parkway LLC, in the transaction. …

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DevelopmentInvestment salesNewsPennsylvaniaRetailers

Colliers Brokers Sale of 211,000-Square-Foot Former Macy’s Store in Bensalem, Pennsylvania

by Alex Tostado

Bensalem, Pa. — Colliers International has brokered the sale of a 211,000-square-foot retail property formerly occupied by Macy’s in Bensalem, a northeastern suburb of Philadelphia. The property is located within the Neshaminy Mall, a 1.2 million-square-foot shopping and dining destination that opened in 1968. The buyer, Sant Properties, plans to reposition the vacant box for multiple tenant spaces. The sales price was undisclosed.

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CaliforniaFinanceMixed-useNewsRetailers

Stockdale Capital Partners Secures $330 Million Construction Loan for The Campus at Horton in San Diego

by Alex Tostado

San Diego — Stockdale Capital Partners has closed on a $330 million loan with a group of funds managed by Alliance Bernstein to continue the redevelopment efforts at Horton Plaza in San Diego. Exterior construction is scheduled to begin soon with 600 to 800 construction workers expected on-site to build the mixed-use creative office and retail redevelopment. Stockdale Capital originally announced its redevelopment plans for Horton Plaza Mall in January. The Campus at Horton will include 700,000 square feet of creative office space and 300,000 square feet of retail space. The development …

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DevelopmentGrocery-anchoredNewsRetailersTexas

Brookshire Grocery Co. to Open 55,000-Square-Foot Store in Fate, Texas

by Alex Tostado

Fate, Texas — Brookshire Grocery Co., a Tyler, Texas-based chain that operates about 180 grocery stores in Texas, Louisiana and Arkansas, will open a FRESH by Brookshire store in Fate, located about 30 miles northeast of Dallas. The store will span a minimum of 55,000 square feet and will be located at the corner of Interstate 30 and Memorial Parkway. Construction is scheduled to begin by the end of the year, and the store is slated to open in late 2021.

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IndianaInvestment salesNewsRetailers

SVN Chicago Commercial Brokers $8 Million Sale of Shopping Center in Elkhart, Indiana

by Alex Tostado

Elkhart, Ind. — SVN Chicago Commercial has brokered the sale of Concord Shopping Center in Elkhart for $8 million. The 601,205-square-foot property is located at 3701 S. Main St. and is 54 percent occupied. Some of the tenants include Chase, Claire’s, GNC, Hobby Lobby, JC Penney, Jo-Ann Fabrics and Spencer’s Gifts. Tim Franz and Matt McParland of SVN represented the undisclosed seller.

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FloridaLeasingNewsRetailers

Butler Enterprises Signs Anthropologie to Lease at Butler Town Center in Gainesville, Florida

by Alex Tostado

Gainesville, Fla. — Butler Enterprises has signed Anthropologie to an 8,750-square-foot lease within Butler Town Center in Gainesville. Butler expects the space to be ready by this fall. The store will be situated off Archer Road across from The Cheesecake Factory. Anthropologie has more than 200 stores in the United States, Canada and Europe, and, according to its website, caters to “sophisticated and contemporary women aged 28 to 45.” The retailer sells women’s apparel and accessories, home décor, furniture and gifts. The 450,000-square-foot Butler Town Center is situated on 267 …

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ArizonaInvestment salesNewsRetailers

Retail Value Sells Shopping Center in Tucson for $84 Million

by Alex Tostado

Tucson, Ariz. — Retail Value Inc. has sold Tucson Spectrum, a 716,704-square-foot, Food City-anchored shopping center in Tucson, for $84 million. The property was 88 percent leased at the time of sale to tenants including Food City, Harkins Theatres, Bed Bath & Beyond, Ross Dress for Less, Marshalls, Best Buy, Michaels and Old Navy. Target and The Home Depot shadow anchor the property, which was completed in 2001. Tucson Spectrum is situated at on West Irvington Road near Interstate 19, five miles south of downtown Tucson. Bryan Ley, Patrick Dempsey, …

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CaliforniaInvestment salesNewsRetailers

Avison Young Negotiates $20 Million Sale of The Village at Moorpark Shopping Center in California

by Alex Tostado

Moorpark, Calif. — Avison Young has arranged the sale of The Village at Moorpark, a community shopping center located at 706 W. Los Angeles Ave. in Moorpark. London Reo Retail-CA, a Delaware limited liability company, sold the asset to California-based Chesser Group for $20 million. Built in 2007 on 11.5 acres, the 129,374-square-foot property was 76.3 percent occupied at the time of sale to tenants including Petco, Dick’s Sporting Goods, Verizon, Bank of America and Leslie’s Pool Supply. Chris Maling and David Maling of Avison Young represented the seller and …

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CaliforniaInvestment salesNewsRetailers

Hanley Investment Group Arranges $7.4 Million Sale of Retail Building in Southern California

by Alex Tostado

Ventura, Calif. — Hanley Investment Group has arranged the $7.4 million sale of Campus Corner, a 9,000-square-foot, multi-tenant retail building in Ventura. A Starbucks with a drive-thru anchors the fully leased building, alongside Jersey Mike’s Subs, Eddie’s Grill, Ventura’s Children’s Dental Group and Jessica’s Nails. Campus Corner is situated at 5101 Telegraph Road, less than a mile from Ventura College and six miles east of downtown Ventura. Ed Hanley, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, an affiliate of Beverly Hills, California-based MJL Capital Partners LLC, in …

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Investment salesMichiganNewsRetailers

SRS Arranges $2.5 Million Sale of Two-Building Retail Property in Kalamazoo, Michigan

by Alex Tostado

Kalamazoo, Mich. — SRS Real Estate Partners has arranged the sale of a two-building retail property in Kalamazoo for $2.5 million. The freestanding buildings are home to Starbucks and Subway. Located on 9th Street, the Starbucks spans 2,085 square feet and the Subway totals 2,000 square feet. The two buildings were built in 2017. Michael Carter and Frank Rogers of SRS represented the seller, a Detroit-based private investor. The team also represented the buyer, a Kalamazoo-based private investor. The sales price represents a cap rate of 5.58 percent, one of …

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