Retailers

DevelopmentGrocery-anchoredNewsRetailersSouth Carolina

Publix Opens GreenWise Market in Lexington, South Carolina

by Alex Tostado

Lexington, S.C. — Publix Super Markets Inc. has opened a GreenWise Market store within Lexington Marketplace in Lexington. The new 20,400-square-foot grocery store is located at 5336 Sunset Blvd., 10 miles west of downtown Columbia. TSCG announced in April that Publix’s organic brand would be moving into the shopping center. This is second location for GreenWise in South Carolina. The 156,000-square-foot Lexington Marketplace is 94 percent leased to tenants including Hobby Lobby, Ulta Beauty, Brain Balance Achievement Centers, Fit Body Boot Camp, Smoothie King, MOD Pizza, Aiden Lane Boutique and Code Ninjas. …

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FinanceIndianaInvestment salesNewsRetailers

Cohen Financial Arranges $10.7 Million Acquisition Loan for Shopping Center in Indiana

by Alex Tostado

Newburgh, Ind. — Cohen Financial, a division of SunTrust Bank, has arranged a $10.7 million loan for the acquisition of Bell Oaks in Newburgh, a suburb of Evansville. Schnucks grocery store anchors the 95,000-square-foot shopping center. Dan Rosenberg and Matt Terpstra of Cohen arranged the 10-year, fixed-rate loan with Goldman Sachs. Midland Atlantic Properties was the borrower.

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Investment salesMinnesotaNewsRetailers

Cooper Group Brokers $2.1 Million Sale of Retail Property in Minnesota

by Alex Tostado

Inner Grove Heights, Minn. — The Cooper Commercial Investment Group has brokered the $2.1 million sale of Inner Grove Market II, an 8,955-square-foot retail property in Inner Grove Heights, about 20 miles southeast of Minneapolis. Caribou Coffee anchors the building, constructed in 2005. Bob Havasi and Dan Cooper of Cooper Group represented the seller, an East Coast-based private investment group. A North Dakota-based private investment group purchased the asset at a cap rate of 7.28 percent.

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DevelopmentLouisianaMallsNewsRetailers

Owner of Metro New Orleans Mall to Start $100 Million Redevelopment, Adding Office Space and Apartments

by Alex Tostado

Metairie, La. — The Richards family, the longtime owner and operator of Clearview Shopping Center in Metairie, has unveiled plans to transform the 700,000-square-foot regional mall into a mixed-use destination. Located at 4436 Veterans Memorial Blvd., the new Clearview City Center sits on a 35-acre site approximately six miles northwest of downtown New Orleans. The $100 million project will add a hotel, 260 upscale apartments, open-air restaurants with rooftop seating, 100,000 square feet of office space and green space for outdoor events and concerts. “This is what the next-generation consumer …

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DevelopmentNewsRetailersWest Virginia

Heidenberg, Strategic Real Estate Open 22,000-Square-Foot Marshalls Within Potomac Marketplace in West Virginia

by Alex Tostado

Ranson, W.Va. — Heidenberg Properties Group and Strategic Real Estate Partners have opened the 22,000-square-foot Marshalls at The Potomac Marketplace in Ranson. In March, the two companies announced they reached a leasing agreement with The TJX Cos., the parent company of Marshalls, and would need to immediately expand the center between Kohl’s and Petco. The center now spans 379,000 square feet following the expansion. Marshalls joins other retail tenants such as AT&T, Weis Markets, Kohl’s, Petco and The Home Depot.

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DevelopmentLeasingNewsNorth CarolinaRetailers

Four Retailers Join Mixed-Use Fenton Development Near Raleigh

by Alex Tostado

Cary, N.C. — Hines, Columbia Development and USAA Real Estate have signed four retailers to join the lineup at Fenton in Cary. Cosmetic retailer Sephora will occupy 4,400 square feet, women’s clothing retailer Free People will occupy 4,000 square feet and Bailey’s Fine Jewelry will occupy 5,000 square feet. CMX CineBistro will join Wegmans as the 69-acre development’s anchor tenants. Construction on Fenton is expected to begin next summer with completion anticipated for fall 2021. Phase I will include approximately 345,000 square feet of retail and entertainment space, 170,000 square …

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Investment salesNewsRetailersWashington

Weingarten Realty Investors Buys 187,388-Square-Foot Covington Esplanade Shopping Center in Metro Seattle

by Alex Tostado

Covington, Wash. — Weingarten Realty Investors has acquired Covington Esplanade, a daily needs-focused shopping center located in Covington, a suburb 25 miles southeast of Seattle. Situated on 15.3 acres at 27027 SE 185th Ave., Covington Esplanade features 187,388 square feet of retail space spread across seven separate parcels with uniform facades. At the time of sale, the property was 97.7 percent leased to a variety of tenants, including The Home Depot, Red Robin Gourmet Burgers and Brews, NorthWest Family Dental Care, IHOP, Bank of America, Verizon and Starbucks Coffee. Nick …

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IndianaInvestment salesNewsRetailers

SRS Arranges $30 Million Sale of Regional Shopping Center in Jeffersonville, Indiana

by Alex Tostado

Jeffersonville, Ind. — SRS Real Estate Partners National Net Lease Group has arranged the sale of Jefferson Town Center West in Jeffersonville for $30 million. The newly developed, 184,663-square-foot regional shopping center is located at 4251 Town Center Blvd. It is fully leased to tenants such as Hobby Lobby, Burlington, TJ Maxx, HomeGoods, Petco, Five Below and Ulta. Michael Carter and Frank Rogers of SRS represented the seller, a Louisville, Kentucky-based developer. Carter and Rogers also represented the buyer, a private investor based in Newport Beach, California.

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Investment salesMassachusettsNewsRetailers

Winstanley Enterprises, Surrey Equities Sell Wonderland Marketplace in Metro Boston for $24.1 Million

by Alex Tostado

Revere, Mass. — Winstanley Enterprises and Surrey Equities have sold Wonderland Marketplace, a 139,507-square-foot shopping center in Revere, for $24.1 million. The shopping center is anchored by Marshalls, Big Lots and Planet Fitness and is adjacent to the Massachusetts Bay Transportation Authority Wonderland Station. The property is located at 151 VFW Parkway, five miles northeast of downtown Boston. Nat Heald and Chris Angelone of JLL represented the sellers in the transaction. Urban Edge Properties purchased the asset.

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Investment salesNewsRetailersTennessee

NKF Brokers Sale of 106,495-Square-Foot Shoppes at Millington Farms in Metro Memphis

by Alex Tostado

Millington, Tenn. — Newmark Knight Frank (NKF) has brokered the sale of the 106,495-square-foot Shoppes at Millington Farms, a 106,495–square-foot shopping center located at 8540 U.S. Highway 51 N. in Millington. Real estate firm Ryan Cos. sold the center, located 18 miles northeast of Memphis, to Living for Life Apartments LLC. Drew Fleming, Mark Joines and Henry Kushner of NKF represented the seller in the transaction. Built in 2017, the shopping center was fully leased to tenants including Ross Dress for Less, Five Below, Petco, Burkes Outlet and Dunham’s Sports. The sales price was not disclosed.

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