Retailers

CaliforniaInvestment salesNewsRetailers

Telos Capital, Warner Pacific Sell Monrovia Landing Retail Center in California for $30.5 Million

by Alex Tostado

Monrovia, Calif. — A partnership between Pasadena, California-based Telos Capital and Warner Pacific Properties has completed the disposition of Monrovia Landing, a grocery-anchored retail asset located in Monrovia. A Los Angeles-based buyer acquired the property for $30.5 million as part of a 1031 exchange from a prior sale. Situated on more than six acres at 723-737 E. Huntington Drive, the center features 96,885 square feet of retail space. At the time of sale, the property was 100 percent leased to a variety of national-credit tenants, including ALDI Food Market, TJ …

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CaliforniaInvestment salesNewsRetailers

First Washington Realty Acquires Fairmont Shopping Center in Pacifica, California

by Alex Tostado

Pacifica, Calif. — Bethesda, Maryland-based First Washington Realty (FWR) has purchased Fairmont Shopping Center, a community shopping center located in Pacifica. Terms of the acquisition, including seller’s name and price, were not released. Situated at the intersection of Hickey and Skyline boulevards, Fairmont Shopping Center features 102,982 square feet of retail space, with Safeway and Rite Aid as anchor tenants. FWR currently owns 103 shopping centers with a value of more than $5.5 billion located in 22 states and the District of Columbia. The company’s centers contain approximately 13.8 million …

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FloridaInvestment salesNewsRetailers

CBRE Brokers $17.2 Million Sale of Waterfront Shopping Center Near Tampa

by Alex Tostado

Madiera Beach, Fla. — CBRE has brokered the $17.2 million sale of The Shops at John’s Pass Village, a 40,771-square-foot shopping center in Madiera Beach. Mark Shellabarger of CBRE represented the undisclosed seller in an online auction that attracted 29 bids. Ben Mallah, an individual buyer, won the bidding process for the waterfront shopping village. The property consists of retail shops, restaurants, a marina and a 325-space parking garage. The Shops at John’s Pass is located about 25 miles west of downtown Tampa.

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FinanceInvestment salesNewsOhioRetailers

NorthMarq Arranges $7 Million Acquisition Loan for Shopping Center in Dayton, Ohio

by Alex Tostado

Dayton, Ohio — NorthMarq has arranged a $7 million loan for the acquisition of Southland 75 Shopping Center in Dayton. The 117,410-square-foot retail center is located at 8265-8361 Springboro Pike. Major tenants include Dollar Tree, Hobby Lobby and Get Air Trampoline Park. Noah Juran of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A regional bank provided the loan for the undisclosed borrower.

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DevelopmentIllinoisNewsRetailers

The RoomPlace Opens Two-Story, 84,000-Square-Foot Store at Lincolnwood Town Center in Northern Illinois

by Alex Tostado

Lincolnwood, Ill. — The RoomPlace, an Illinois-based furniture store, has opened at Lincolnwood Town Center in northern Illinois. The retailer replaces a former Carson’s store. The 84,000-square-foot space incorporates three brands — The RoomPlace, The MattressPlace and RP Outlet. The location marks The RoomPlace’s largest store to date. Washington Prime Group Inc. owns Lincolnwood Town Center. Other retailers at the shopping mall include Kohl’s, Old Navy, Bath & Body Works, Foot Locker, Express and Champs Sports.

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Investment salesNewsRetailersVirginia

American Commercial Realty Purchases 198,741-Square-Foot Shopping Center in Hampton Roads Region

by Alex Tostado

Chesapeake, Va. — American Commercial Realty Corp. (ACR) has purchased Crossroads at Chesapeake Square, a 198,741-square-foot shopping center in Chesapeake. Ross Dress for Less, Aldi, Best Buy and Old Navy anchor the center. The Hampton Roads property was built in 1991 with Walmart as its anchor. Walmart relocated in 2005, making room for a new tenant mix. This is ACR’s first purchase in Virginia. Virginia Beach-based Divaris Real Estate will manage the leasing for the center.

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CaliforniaInvestment salesNewsRetailers

JLL Brokers $31.5 Million Sale of Corona Hills Marketplace in Corona, California

by Alex Tostado

Corona, Calif. — JLL has arranged the sale of Corona Hills Marketplace, a grocery-anchored community shopping center located in the Corona Hills neighborhood of Corona. A public REIT sold the property to a private investor for $31.5 million. Situated on 12.3 acres at 529-591 N. McKinley St., Corona Hills Marketplace features 148,805 square feet of retail space in California’s Riverside County. At the time of sale, the property was 98 percent leased to a mix of daily-needs and service-oriented tenants. Anchor tenants include Vons, PetSmart and Howard’s Appliances. Gleb Lvovich, …

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GeorgiaLeasingMixed-useNewsRetailers

North American Properties Reveals First Retailers Joining $900 Million Mixed-Use Development in Metro Atlanta

by Alex Tostado

Duluth, Ga. — North American Properties (NAP) has revealed its first retail tenant lineup at Revel, its $900 million, Infinite Energy Center-anchored mixed-use development in Duluth. The first nine tenants announced at the Gwinnett County project include Superica, a Tex-Mex restaurant run by restaurateur Ford Fry; Regal Cinemas; The Painted Pin, which will be the second location for the bowling, entertainment and bar concept; JINYA Ramen Bar; American Barber; Secreto, chef Boyd Rose’s concept serving  Southern cuisine; The Local Expedition Wood Fired Grill; Maker’s Coffee & Wine; and Honeysuckle Gelato. …

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DevelopmentGrocery-anchoredNewsPennsylvaniaRetailers

PMC Breaks Ground on 65,000-Square-Foot GIANT Food Store in Philadelphia

by Alex Tostado

Philadelphia — PMC Property Group, a Philadelphia-based developer, has broken ground on a 65,000-square-foot flagship store for GIANT Food Stores in Philadelphia. Located within the Gensler-designed Riverwalk mixed-use project, the store will offer more than 600 varieties of fresh and local produce, as well as curbside pickup and delivery services. The store is slated to open by fall 2020.

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ArizonaInvestment salesNewsRetailers

Cushman & Wakefield Arranges $16.9 Million Sale of Retail Center in Metro Phoenix

by Alex Tostado

Chandler, Ariz. — Cushman & Wakefield has arranged the $16.9 million sale of Santan Gateway North, a 123,236-square-foot retail center shadow-anchored by Walmart. The property was 77 percent leased at the time of sale to tenants including Goodwill, Dollar Tree and LA Fitness. Santan Gem LLC acquired the property from an entity created by LNR called GCCFC 2006-GG7 South Arizona Avenue LLC. Santan Gateway North is located at 1005 S. Arizona Ave., 25 miles southeast of downtown Phoenix. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller …

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