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Pembroke-Square_Virginia-Beach
DevelopmentMixed-useNewsVirginia

Pembroke Realty Provides Updates on $300 Million Mall Redevelopment in Virginia Beach

by Abby Cox

Virginia Beach, Va. — Pembroke Realty Group has provided updates on the $300 million redevelopment of Pembroke Mall, a regional shopping mall in Virginia Beach that dates back to 1966. The project, renamed Pembroke Square, will comprise The Pembroke, a 284-unit luxury apartment community set to break ground in the coming months; and Tempo by Hilton, a 163-room hotel that is underway. Two additional phases are in pre-development, while approximately 26,000 square feet of retail space is expected to come on line through 2028. Pembroke Square also includes Aviva Pembroke, …

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Stateline
Investment salesNewsTennessee

JLL Arranges $54.3 Million Sale of Retail Portfolio in Nashville

by Abby Cox

Nashville, Tenn. — JLL Capital Markets has arranged the $54.3 million sale of a two-property retail portfolio located in Nashville. The properties, which span 134,113 square feet, include Breeze Block at 6100-6110 Robertson Ave. and Stateline at 5300 Centennial Blvd. Breeze Block totals 39,452 square feet and serves as a neighborhood-oriented destination featuring retail, restaurant, wellness and office space. Stateline comprises 94,661 square feet of mixed-use space and includes a blend of office, retail, health and wellness and service-oriented tenants. Both properties were developed within the past several years and offer …

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at-home
Investment salesNewsTexas

PlaceMKR Acquires Five-Property Retail Portfolio Spanning Three States for $31.8 Million

by Abby Cox

Austin, Texas — Austin-based PlaceMKR has acquired a five-property, single-tenant retail portfolio spanning Texas, Ohio and Mississippi for $31.8 million. Big-box home furnishings retail chain At Home occupies the properties under long-term triple-net leases. Three of the properties are in Texas: 1600 West Kelly Ave. in Pharr, 642 South Walnut Ave. in New Braunfels and 2650 West Interstate 20 in Grand Prairie. The remaining properties are located at 15065 Creosote Road in Gulfport, Mississippi, and 2244 S. Reynolds Road in Toledo, Ohio.

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Dickson City Commons
Investment salesNewsPennsylvania

CBRE Negotiates Sale of 110,254-Square-Foot Shopping Center Near Scranton, Pennsylvania

by Abby Cox

Dickson City, Pa. — CBRE has negotiated the sale of Dickson City Commons, a 110,254-square-foot shopping center located in Dickson City, roughly four miles north of Scranton. Marshalls and Michaels anchor the property, which features a mix of additional tenants such as Skechers, Famous Footwear, Pet Supplies Plus and Fine Wine & Good Spirits. The property has undergone recent renovations totaling nearly $1 million, including a parking lot resurfacing project, façade upgrades, roof repairs, LED lighting enhancements and landscaping improvements. Chris Munley, Colin Behr, Ryan Sciullo and Casey Smith of CBRE …

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Compass Creek Portfolio
Investment salesNewsVirginia

Atlantic Capital Brokers $20.2 Million Sale of Six Retail Properties in Northern Virginia

by Abby Cox

Leesburg, Va. — Atlantic Capital Partners has brokered the $20.2 million sale of six retail properties located in Leesburg. The portfolio features two strip centers and four freestanding pads that were purchased in separate transactions. The properties are situated within Compass Creek, a 200-acre mixed-use development anchored by Walmart, At Home and The Rinks. Totaling 25,830 square feet, the four freestanding pads are leased to Valvoline, Popeyes, Chipotle Mexican Grill and Starbucks. The portfolio also features a 15,805-square-foot strip center spanning two buildings, occupied by AT&T, Heartland Dental, Buffalo Wing …

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Key-Biscayne
FloridaInvestment salesNews

Berkadia Arranges $9.8 Million Refinancing for Retail Property in Key Biscayne, Florida

by Abby Cox

Key Biscayne, Fla. — Berkadia has arranged a $9.8 million loan to refinance a 61,504-square-foot, two-story retail center located on Key Biscayne, a barrier island situated south of Miami. Charles Foschini, Christopher Apone, Shannon Wilson and Lourdes Carranza-Alvarez of Berkadia secured the 10-year, fixed-rate loan through a correspondent life insurance company on behalf of the owner, which purchased the property in 1997. The financing features a 23 percent loan-to-value ratio. The retail property is situated on Crandon Boulevard, Key Biscayne’s primary commercial corridor and its only land connection to mainland Miami. …

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Shoppers-Haven
Company newsFloridaGrocery-anchoredLeasingNews

Colliers to Provide Leasing Services for Two Florida Shopping Centers Spanning 262,000 Square Feet

by Abby Cox

Plantation and Pompano Beach, Fla. — Colliers has been selected to provide leasing services for two shopping centers: Shoppers Haven in Pompano Beach and Shops at One Plantation in Plantation. Sabrina Stimming, Steven Henenfeld, Ruben Suarez and Ariel Davis will lead leasing efforts for the properties on behalf of Stiles Retail Group. The first property, Shoppers Haven, is a 200,144-square-foot, redeveloped Publix-anchored shopping center. Additional tenants at the property include Walgreens, Bealls, Outback Steakhouse, Xfinity, Dunkin’ and Domino’s Pizza, among others. Shops at One Plantation spans approximately 61,855 square feet and …

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sheridan-square
ArizonaInvestment salesNews

ZRP Acquires 10,546-Square-Foot Retail Property in Phoenix for $3.4 Million

by Abby Cox

Phoenix — Ziff Real Estate Partners (ZRP) has acquired Sheridan Square, a 10,546-square-foot retail center located in Phoenix’s historic Coronado District, for $3.4 million. Built in 1965 and modernized in 2021, Sheridan Square was 80 percent leased at the time of sale to local tenants including The Main Ingredient, Urban Cookies, The Velo Bike Shop and Tatemados Tacos al Carbon. The seller was an entity doing business as 7th & Sheridan LLC.

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Villages-of-Blaine
Grocery-anchoredInvestment salesMinnesotaMissouriNews

First Washington Realty Acquires Two Midwest Shopping Centers for $65 Million

by Abby Cox

Blaine, Minn. and Liberty, Mo. — First Washington Realty (FWR) has acquired two grocery-anchored shopping centers in Minnesota and Missouri for a combined value in excess of $65 million. The acquisitions expand FWR’s portfolio to 21.9 million square feet across 21 states. The Village of Blaine is a 220,685-square-foot center in Blaine, Minnesota, and Liberty Corners is a 124,808-square-foot property anchored by a 56,000-square-foot Cosentino’s Price Chopper store in Liberty, Missouri. Additional tenants include Chipotle Mexican Grill and The Big Biscuit.

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Water-Tower
Grocery-anchoredInvestment salesNewsPennsylvania

CBRE Arranges Sale of 269,018-Square-Foot Grocery-Anchored Center in Metro Philadelphia

by Abby Cox

Montgomeryville, Pa. — CBRE has arranged the sale of Water Tower Center, a 269,018-square-foot grocery-anchored center located in Montgomeryville, roughly 32 miles north of Philadelphia. A newly formed joint venture between ECHO Realty and TPG was the buyer. Chris Munley, Colin Behr, Ryan Sciullo and Casey Smith of CBRE represented the seller, The Goldenberg Group, in the transaction. Tenants at the center include Sprouts Farmers Market, The Home Depot, Planet Fitness, Flagship Cinemas, Bob’s Discount Furniture, World Market and Miller’s Ale House.

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