New York City — Eyewear retailer Warby Parker has opened a 2,564-square-foot store in the Park Slope neighborhood of Brooklyn. The two-story building is located at 208 Flatbrush Ave., near the Barclays Center. Brian Katz and Scott Sher of Katz & Associates represented Warby Parker in the lease negotiations. Pintchick Associates Ltd. is the landlord.
Addison, Texas — Northwood Retail will reposition Prestonwood Place, a 133,000-square-foot retail center located at the corner of Beltline and Montfort streets in Addison, a northern suburb of Dallas. The project will convert part of the center into 50,000 square feet of office space, upgrade building façades and add a 15,000-square-foot park. Additional improvements will include reconfigured parking lots, new pedestrian walkways and refreshed landscaping. Construction will occur in four phases, with the overall completion slated for early 2021. Northwood Retail is based in Dallas and is an affiliate of …
Nashville, Tenn. — Boyle Investment Co. has sold Lion’s Head Village, a Trader Joe’s-anchored shopping center in Nashville, for $45.3 million. The center is shadow-anchored by Target and was fully leased at the time of sale to tenants including Great Clips, Sport Seasons, Cosmos Nails, Plato’s Closet Nashville and Dalts American Grill. Lion’s Head Village is situated on 9.5 acres at 90 White Bridge Road, two miles from Vanderbilt University and four miles from downtown Nashville. Jim Hamilton of JLL represented the locally based seller in the transaction. San Francisco-based …
JLL Income Property Trust Acquires Milford Crossing Shopping Center in Massachusetts for $42 Million
Milford, Mass. — JLL Income Property Trust, an institutionally managed daily NAV REIT, has acquired Milford Crossing, a 160,000-square-foot shopping center located approximately 40 miles southwest of Boston, for $42 million. A Stop & Shop grocery store anchors the shopping center, which was 99 percent leased to restaurants, medical, fitness and service-oriented retailers at the time of sale. RD Management LLC was the seller.
Powder Springs, Ga. — Coro Realty has acquired Varner Crossing, an 80,466-square-foot retail center in Powder Springs. An undisclosed Chicago investor sold the property for $12.7 million. Kroger anchors the center, which was 98 percent leased at the time of sale to tenants including Subway, Marco’s Pizza and Macland Animal Hospital. Coro Realty also plans to pursue a ground lease or build-to-suit opportunity for a vacant outparcel included in the deal. The property is situated at 4150 Macland Road, 25 miles northwest of downtown Atlanta. Anthony Blanco of TSCG led …
Marietta, Ga. — Berkeley Capital Advisors has arranged the $43.8 million sale of Sandy Plains Marketplace, a 72,913-square-foot shopping center in Marietta. GreenWise Market, the smaller footprint organic grocery concept from Publix, anchors the property, which includes other tenants such as Hollywood Feed, Thrive Affordable Vet Care, Pacific Dental Services, MOD Pizza, First Watch, Bad Daddy’s, Synovus Bank and Panda Express. The seller, Atlanta-based Fuqua Development, delivered the asset at the beginning of January. The buyer was not disclosed.
Portland, Texas — Houston-based investment firm McLeod Sears has begun construction on a seven-acre retail redevelopment project in Portland, a city in South Texas near Corpus Christi. The project will convert a site that previously housed an 82,939-square-foot Kmart into a 25,200-square-foot high-end shopping center that will also feature a number of restaurant and retail pad sites, one of which has been leased to Chick-fil-A. McLeod Sears expects to complete the project by summer 2021.
Tolleson, Ariz. — TriGate Capital has completed the sale of Crossroads at Tolleson, a regional shopping center located at 9897 W. McDowell Road in Tolleson. An undisclosed buyer acquired the asset for $24.5 million, or $248 per square foot. At the time of sale, the 98,598-square-foot center was 96 percent leased by a variety of tenants. Current retailers include NAPA Auto Parts, Sherwin-Williams, Cricket Wireless, Sprint, Verizon, OneMain Financial, DXL and Firehouse Subs. Chad Tiedeman and Steven Underwood of Phoenix Commercial Advisors represented the seller in the deal. Zach Pace, …
Dallas — Weitzman has arranged the sale of Lake Highlands Village, a 100,000-square-foot retail and office property located at 9090 Skillman St. in Dallas. Shadow-anchored by a Tom Thumb grocery story, the property’s tenant roster includes The UPS store as well as several restaurant, service and medical users. Derek Schuster and Kevin Butkus of Weitzman represented the seller in the transaction. The buyer was Dallas-based JAH Realty LP, which plans to renovate the 50,000-square-foot retail building and upgrade the office component.
San Diego — SRS Real Estate Partners’ National Net Lease Group has arranged the purchase of Sorrento Plaza, a shopping center located in the Sorrento Valley submarket of San Diego. A Northern California-based private investor acquired the asset from Wells Fargo, as the successor trustee, for $9 million, or $756 per square foot. Built in 2007, the 11,901-square-foot property is located at 9254 Scranton Road. At the time of acquisition a variety of tenants fully occupied the property, including Subway, Rubio’s Coastal Grill, Opera Patisserie, Croutons and a dental clinic. …