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Company newsHawaiiInvestment salesNews

Joint Venture to Acquire Alexander & Baldwin in $2.3 Billion Deal, Take Hawaiian Company Private

by Abby Cox

HONOLULU — A joint venture formed by locally based MW Group Ltd. and funds affiliated with Blackstone Real Estate and DivcoWest has entered into a definite merger agreement with Alexander & Baldwin Inc., a Honolulu-based owner-operator of shopping centers and other commercial real estate properties. The deal is valued at $2.3 billion, inclusive of outstanding debt, and would take Alexander & Baldwin private. The joint venture plans to acquire all outstanding shares of Alexander & Baldwin for $21.20 per share in an all-cash transaction. The company’s stock price closed last week …

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Jacaranda-Plaza
FloridaGrocery-anchoredInvestment salesNews

Core Investment Buys 175,084-Square-Foot Publix-Anchored Shopping Center in Metro Fort Lauderdale

by Abby Cox

Plantation, Fla. — Core Investment Management has acquired Jacaranda Plaza, a 175,084-square-foot, grocery-anchored shopping center located in the Fort Lauderdale suburb of Plantation. Danny Finkle, Jorge Portela and Evan Lahr of JLL represented the seller, a joint venture between Epic Real Estate Partners and Heitman, in the transaction. Chris Drew, Brian Gaswirth and Luke Maganas, also of JLL, arranged acquisition financing for the purchase through U.S. Bank on behalf of the new ownership. Jacaranda Plaza is currently 97.9 percent leased to tenants including Publix, Ross Dress for Less, Five Below, …

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University-Point
GeorgiaInvestment salesNews

Marcus & Millichap Arranges $5.5 Million Sale of Retail Center in Metro Atlanta

by Abby Cox

Kennesaw, Ga. — Marcus & Millichap has arranged the $5.5 million sale of University Point, a 12,500-square-foot retail center located on the campus of Kennesaw State University (KSU) in northwest Atlanta. Originally built in 2005, the property is fully leased to a mix of tenants including Mellow Mushroom, Jimmy John’s, Wingstop, Insomnia Cookies, Tinto’s Coffee House, Vivint Smart Home and the U.S. Marine Corps. Recruiting Station.   Zach Taylor and Eric Abbott of Marcus & Millichap marketed the property on behalf of the seller, a private Atlanta-area owner, in the transaction.

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Firestone
Investment salesNewsOhio

Marcus & Millichap Brokers Sale of Firestone-Occupied Retail Property in Metro Columbus

by Abby Cox

Heath, Ohio — The Taylor McMinn Retail Group of Marcus & Millichap has brokered the sale of a newly constructed retail property occupied by Firestone in Heath, about 30 miles east of Columbus. Built in 2025, the property features a 15-year, triple-net corporate-guaranteed lease that includes 5 percent rent increases every five years in the initial term. The asset sold at 98 percent of the list price to an all-cash buyer completing a 1031 exchange. The seller was a preferred developer for Firestone. Don McMinn and Andrew Koriwchak of the …

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North-River-District
Company newsDevelopmentNews

PB Development Selected as Master Developer for North River District in Fort Wayne, Indiana

by Abby Cox

Fort Wayne, Ind. — PB Development has been selected to serve as the master developer for North River District, a planned 29-acre mixed-use development in Fort Wayne. The site is anticipated to include a 160,000-square-foot sports and recreation facility, dubbed North River Fieldhouse, that will accommodate activities including basketball, soccer, volleyball, wrestling, cheerleading, pickleball, baseball and flag football. Affordable and market-rate housing options are also expected to be constructed at the property.

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Chappaqua-Crossing
Investment salesNew YorkNews

CBRE Negotiates $76.5 Million Sale of Chappaqua Crossing in New York

by Abby Cox

Chappaqua, N.Y. — CBRE has negotiated the $76.5 million sale of Chappaqua Crossing, a 120,986-square-foot shopping center located in New York’s Westchester County that is part of the redevelopment of the 114-acre former Reader’s Digest headquarters campus. Tenants at the center include Whole Foods, Life Time Fitness, Starbucks Coffee and Chase Bank. The property also features more than 500,000 square feet of medical and office space, 64 apartments and 91 luxury townhomes. Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented the seller, Heitman, and procured the buyer, …

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Orland-Park-Place
IllinoisInvestment salesNews

Mid-America Arranges Sale of 580,477-Square-Foot Shopping Center in Suburban Chicago

by Abby Cox

Orland Park, Ill. — Mid-America Real Estate Corp. has arranged the sale of Orland Park Place, a 580,477-square-foot shopping center in the southern Chicago suburb of Orland Park. The sales price was $60 million, according to Crain’s Chicago Business. Orland Park Place, which was 93 percent leased at the time of sale, included a mix of tenants such as Nordstrom Rack, Marshalls, Ross Dress for Less, Dick’s Sporting Goods, Steinhafel’s Furniture, Ashley Home Store, Hobby Lobby, DSW, Barnes & Noble and Planet Fitness. The sale included the primary 568,577-square-foot inline …

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DevelopmentMissouriMixed-useNews

Staenberg Group Begins Site Work for Chesterfield Mall Redevelopment in Metro St. Louis

by Abby Cox

Chesterfield, Mo. — The Staenberg Group (TSG) has begun utility work and site grading for Downtown Chesterfield, the redevelopment of the former Chesterfield Mall site into a mixed-use destination in suburban St. Louis. This phase of work includes utility installation and relocation needed to support future development as well as site grading focused on the new road network and the 3.3-acre park that will serve as the centerpiece of Downtown Chesterfield. These early infrastructure improvements help transition the project site from demolition to active development. Plans call for a mix of …

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bjs-wholesale-club
FinanceFloridaNews

MMCC Arranges $7 Million in Financing for Single-Tenant Retail Property in Suburban Jacksonville

by Abby Cox

Orange Park, Fla. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7 million in financing for a 109,895-square-foot single-tenant retail property in the Jacksonville suburb of Orange Park. BJ’s Wholesale Club occupies the building. Garrett Fierstein of MMCC secured the financing through a local credit union on behalf of a private client.

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The Cliff
LeasingNevadaNews

Six Retail, Restaurant Tenants to Open at The Cliff in Metro Las Vegas

by Abby Cox

Henderson, Nev. — A partnership between Partners Capital Inc. and CAST has announced the first wave of tenants for The Cliff, a 100,000-square-foot retail development located in Henderson, roughly 15 miles outside Las Vegas. Retail and restaurant concepts including The Taco Stand, Killer Whale Creamery, Lyte House, The Barista Botanist and Next Health, along with new anchor tenant Arhaus, are anticipated to open by late 2026. Construction is set to begin in early 2026. Serving as the gateway to the Green Valley Ranch master-planned community, The Cliff is anticipated to open in …

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