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towne-crossing
Grocery-anchoredInvestment salesNewsTexas

DIG Arranges Sale of 167,957-Square-Foot, Kroger-Anchored Shopping Center in Metro Dallas

by Abby Cox

Mesquite, Texas — Disney Investment Group (DIG) has arranged the sale of Towne Crossing, a 167,957-square-foot shopping center located in Mesquite, roughly 15 miles east of Dallas. Kroger anchors the property, which was 92 percent leased at the time of sale to 30 additional tenants including WSS, Citi Trends, CSL Plasma, Kids Empire, LaundroLab and Hertz, among others. Kroger has operated at Towne Crossing since its opening in the early 1990s, and recently executed an early, long-term lease extension. David Disney and Adam Crockett of DIG represented the seller, Phillips …

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The Market at City Park
Investment salesNewsTexas

Reid King Sells 8,024-Square-Foot, Multi-Tenant Retail Property in Houston

by Abby Cox

Houston — Reid King Commercial Real Estate has sold The Market at City Park, an 8,024-square-foot, multi-tenant retail property located in Houston. Built in 2024 on 1.5 acres, the four-suite center was fully leased to Chipotle Mexican Grill, Marble Slab Creamery/Great American Cookies, The UPS Store and TLN Family Dental at the time of sale. The Market at City Park is also shadow anchored by a new Joe V’s Smart Shop grocery store. Chris Gainey and Philip Levy of Marcus & Millichap marketed the property on behalf of the seller. The …

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12443-NW-Grand-Ave-El-Mirage-AZ
ArizonaInvestment salesNews

Cushman & Wakefield Brokers $2.4 Million Sale of Single-Tenant Restaurant Property in Metro Phoenix

by Abby Cox

El Mirage, Ariz. — Cushman & Wakefield has brokered the $2.4 million sale of a newly developed restaurant building located at 12443 NW Grand Ave. in El Mirage, roughly 10 miles northwest of downtown Phoenix. Black Rock Store Operations LLC occupies the 620-square-foot building. The coffee bar operates 181 locations across seven states and offers specialty coffee, energy drinks, breakfast sandwiches, bagels, egg bites and grab-and-go pastries. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller in the deal. Both parties were limited liability companies.

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6040-Canoga-Ave.
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $5.1 Million Sale of Single-Tenant Restaurant Property Near Los Angeles

by Abby Cox

Woodland Hills, Calif.  — Marcus & Millichap has arranged the $5.1 million sale of a single-tenant retail property located in Woodland Hills, approximately 26 miles northwest of downtown Los Angeles. Built in 1978, the 10,000-square-foot building is leased to full-service Mexican restaurant El Torito. Brandon Michaels of Marcus & Millichap marketed the property on behalf of the seller, an entity doing business as Kia Canoga Warner LLC, and procured the buyer, a private investor.

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Company newsNewsNorth Carolina

Asana Partners, Norges Bank Form Retail Joint Venture

by Abby Cox

Charlotte, N.C. — Asana Partners and Norges Bank Investment Management (NBIM), which manages the Norwegian Government Pension Fund, have formed Asana Partners Strategic Partners I, a joint venture focused on core and core-plus neighborhood retail properties, including grocery-anchored centers, unanchored centers, street retail and mixed-use properties. Norges invested $500 million in equity for the partnership, and will own a 49 percent stake, according to multiple media outlets. The partnership’s first investment will be a 50 percent interest in a portfolio consisting of premium, grocery-anchored retail centers. In addition, the venture will …

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Whole Foods Market
DevelopmentFloridaGrocery-anchoredNews

SJC Ventures Opens New Whole Foods Grocery Store at Doral Marketplace in Florida

by Abby Cox

Doral, Fla. — SJC Ventures has opened a 43,000-square-foot Whole Foods Market in Doral, a western suburb of Miami. The grocery store anchors Doral Marketplace, a nearly 90,000-square-foot shopping center, and includes 500 products from Florida-based suppliers. Additional tenants at Doral Marketplace include Shake Shack, J.Crew, First Watch, GoodVets, The Spot Barbershop, Pacific Dental, PNC Bank, Warby Parker, Tide Dry Cleaners, Ulta Beauty, Apizza Brooklyn Resto + Vino and Chick-fil-A. The design-build team for the Whole Foods store included architect Dynamik Design and general contractor Oak Construction.

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Weymouth-Mass
DevelopmentMassachusettsMixed-useNews

Brookfield, New England Development Acquire Former Naval Station Near Boston, Plan Major Mixed-Use Project

by Abby Cox

Weymouth, Mass. — A joint venture between New York City-based Brookfield Properties and Boston-based New England Development has purchased the site of the former South Weymouth Naval Air Station in metro Boston. The co-developers acquired the 1,400-acre site from Washington Capital Management for $65 million. Brookfield and New England Development are planning a mixed-use redevelopment that would include 6,500 housing units, along with about 2 million square feet of commercial and retail space. The project will span more than 1,400 acres across three municipalities — Weymouth, Rockland and Abington, Massachusetts. …

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Giant-Eagle
Investment salesNewsRetailers

The Kroger Co. to Acquire Giant Eagle for $1.6 Billion

by Abby Cox

Cincinnati and Pittsburgh — The Kroger Co. and Giant Eagle Inc. have entered into a definitive agreement in which Kroger will acquire Giant Eagle, a family-owned food and pharmacy retailer. The company operates 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana. The transaction has been unanimously approved by Kroger’s board of directors. The purchase price will be $1.65 billion, comprised of $1.25 billion in cash and the assumption of approximately $400 million in outstanding liabilities. In connection with obtaining the requisite regulatory clearance necessary to …

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Grand-Village-Center-Surprise-AZ
ArizonaInvestment salesNews

Phoenix Commercial Advisors Arranges $10.7 Million Sale of Retail Center in Surprise, Arizona

by Abby Cox

Surprise, Ariz. — Phoenix Commercial Advisors has arranged the $10.7 million sale of Grand Village Center, a 52,685-square-foot retail property located in Surprise, roughly 30 miles northwest of Phoenix. The center traded for $203 per square foot. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal. Built in 2005, Grand Village Center was 97 percent leased at the time of sale to a mix of tenants including Master Taco, Hungry Howie’s Pizza, Church for the Nations and Zona Communications. Elevate Trampoline Park anchors …

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boston-commons
Investment salesMassachusettsNews

Atlantic Capital Partners Brokers $10.2 Million Sale of 103,494-Square-Foot Shopping Center in Western Massachusetts

by Abby Cox

Springfield, Mass. — Atlantic Capital Partners has brokered the $10.2 million sale of Boston Commons, a 103,494-square-foot shopping center located in the western Massachusetts city of Springfield. Kohl’s anchors the property, which was 98 percent leased at the time of sale. Other tenants include CVS Pharmacy, Family Dollar and T-Mobile. Justin Smith, Chris Peterson, Danielle Turpin and Matt Ericson of Atlantic Capital Partners represented the seller in the transaction.

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