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IllinoisInvestment salesNews

AEW, Brand Street Properties Acquire Deer Park Town Center in Metro Chicago for $125 Million

by Abby Cox

Deer Park, Ill. — A joint venture between AEW Capital Management and Brand Street Properties has acquired Deer Park Town Center, a 410,000-square-foot open-air center located in Deer Park, approximately 35 miles northwest of downtown Chicago. The purchase price of $125 million marks the highest price paid for a Chicago-area retail property in a decade, according to Crain’s Chicago Business. Deer Park Town Center is home to more than 60 tenants, including Apple, Crate & Barrel, Williams Sonoma, Gap, lululemon, Anthropologie and Sephora. Restaurants include Biaggi’s Ristorante Italiano, Sweetgreen, Stoney …

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Randhurst Village
Grocery-anchoredIllinoisNewsPower centers

Newmark Arranges $95 Million Sale of Power Center in Metro Chicago

by Abby Cox

Mount Prospect, Ill. — Newmark has arranged the $95 million sale of Randhurst Village, a 931,798-square-foot open-air power center located in Mount Prospect, roughly 20 miles northwest of downtown Chicago. Situated on more than 94 acres, Randhurst Village is anchored by Costco, Jewel-Osco and The Home Depot, alongside a mix of national retailers such as T.J. Maxx, HomeGoods, AMC Theatres, Skechers, Orangetheory Fitness and PetSmart. Randhurst Mall was redeveloped into the open-air Randhurst Village in 2011, following the closure of the original enclosed mall in 2008 and its subsequent demolition …

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Soundview-Marketplace
FinanceNew YorkNews

PEBB, Sagamore Hill Receive $26.8 Million Refinancing for Soundview Marketplace in Port Washington, New York

by Abby Cox

Port Washington, N.Y. — PEBB Enterprises and Sagamore Hill Partners have received a $26.8 million loan to refinance Soundview Marketplace, a 188,109-square-foot shopping center located on Long Island’s North Shore in Port Washington. Built in 1962 and 1977, the property comprises four buildings and is situated on nearly 11 acres. The center is occupied by tenants including Target, T.J. Maxx, Walgreens, Five Below, Ace Hardware, Crumbl Cookies and Starbucks Coffee. The Training Station Athletic Club will open a 22,100-square-foot location at the property in November in a space formerly occupied by a movie …

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DevelopmentGeorgiaGrocery-anchoredNews

Connolly Unveils First Wave of Tenants at Publix-Anchored Center in Metro Atlanta

by Abby Cox

Woodstock, Ga. — Connolly has unveiled the first wave of tenants at Woodstock Mill District, a 118,000-square-foot shopping center underway in downtown Woodstock, roughly 30 miles northwest of Atlanta. Connolly closed on the site last September and began construction immediately. Tenants are expected to occupy the buildings this fall to prepare for an opening in early 2027. Woodstock Mill District encompasses an 11-acre new development site, as well as an existing 28,000-square-foot retail center that Connolly purchased in 2021 for $4 million. A 46,791-square-foot, freestanding Publix will anchor the new property, …

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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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