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Miami World Center Exterior
FloridaInvestment salesMixed-useNews

Joint Venture Acquires 300,000-Square-Foot Retail District at $6 Billion Miami Mixed-Use Development

by Abby Cox

Miami — A joint venture comprising affiliates of the Falcone Group, ROK Acquisitions, Andre Mirmelli, The Davis Cos. and Jamestown has acquired a retail and entertainment district situated within Miami Worldcenter, a new $6 billion mixed-use destination in downtown Miami.  The seller was master development group Miami Worldcenter Associates, which is a partnership between Falcone Group, Nitin Motwani and CIM Group. The sale price was not disclosed.  Totaling 300,000 square feet of retail, dining and entertainment space with 100,000 square feet of parks and plazas, the acquired property will be …

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Grocery-anchoredInvestment salesMixed-useNewsTexas

Town Lane, Gillon Property Group Purchase 460,000-Square-Foot Mixed-Use Development in Allen, Texas

by Abby Cox

Allen, Texas — New York-based Town Lane and Dallas-based Gillon Property Group have acquired Watters Creek Village, a 460,000-square-foot mixed-use development located in the northeastern Dallas suburb of Allen. An Ares Real Estate fund provided the debt financing for the acquisition. Delivered in 2008, Watters Creek Village spans 46 acres and features approximately 360,000 square feet of retail and 100,000 square feet of boutique office space. A Market Street grocery store anchors the property, with additional tenants including Anthropologie, Barnes & Noble, Chico’s, Bath & Body Works, DSW, Kendra Scott, Loft, …

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interstate-shopping-center-TJX
Grocery-anchoredInvestment salesNew JerseyNews

Wafra Acquires 348,742-Square-Foot Interstate Shopping Center in Ramsey, New Jersey

by Abby Cox

Ramsey, N.J. — New York-based Wafra has acquired Interstate Shopping Center, a 348,742-square-foot shopping center located in the Northern New Jersey community of Ramsey. CBRE arranged the joint venture between Crossroads Cos. and Wafra to purchase the property, while Axiom Capital arranged the acquisition loan. This transaction marks the first time the property has been sold since an earlier and smaller version of the center was acquired in the early 1990s. ShopRite, T.J. Maxx, Burlington, Ulta Beauty, Michaels and DSW anchor Interstate Shopping Center, which comprises seven buildings across 42 retail …

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Washington Center
ColoradoInvestment salesNews

JLL Negotiates $10.2 Million Sale of Washington Center in Metro Denver

by Abby Cox

Northglenn, Colo. — JLL Capital Markets has negotiated the $10.2 million sale of Washington Center, a 50,445-square-foot retail center located in Northglenn, a northern suburb of Denver. Jason Schmidt and Austin Snedden of JLL represented the seller, an entity doing business as Northglenn LLC, in the transaction. Rob Bova, also of JLL, arranged a fixed-rate acquisition loan on behalf of the buyer, Lafayette Property Co. Washington Center was 92 percent leased at the time of sale and features 19 tenants across 21 retail suites. Restaurants and retailers at the property include …

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FloridaInvestment salesNews

Adirondack Capital Partners Arranges $43 Million Sale of Retail Property in Palm Beach, Florida

by Abby Cox

Palm Beach, Fla. — Adirondack Capital Partners (ACP) has arranged the $43 million sale of 225 Worth Avenue, a 10,000-square-foot retail property in Palm Beach. Brittany Feinberg and Michael Hunter Coghill of ACP represented both the seller, JSB Capital Group, and the buyer, Acadia Realty Trust, in the transaction. The property features 89 feet of frontage along Worth Avenue and is leased to a mix of luxury tenants including Gucci, G/FORE and J. McLaughlin.

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fairfield-shopping-center
Grocery-anchoredInvestment salesNewsVirginia

BC Wood Properties Acquires Fairfield Shopping Center in Virginia Beach for $34.9 Million

by Abby Cox

Virginia Beach, Va. — Lexington, Kentucky-based BC Wood Properties has acquired Fairfield Shopping Center, a 184,106-square-foot shopping center located in Virginia Beach, for $34.9 million. Food Lion and T.J. Maxx anchor the center, which was 93 percent leased at the time of sale. Additional tenants at the property include Burn Boot Camp, Papa John’s Pizza, Ivy Rehab, Jovi Salon, Fairfield Flowers, Truist Bank, Starbucks Coffee and Verizon Wireless. David Webb and Thompson Brown of Berkeley Capital Advisors represented the seller, Charlotte, North Carolina-based Crosland Southeast and an undisclosed joint venture partner, …

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Vintner's Square Shopping Center
CaliforniaInvestment salesNews

Visintainer Group Negotiates $23.3 Million Sale of Shopping Center in Lodi, California

by Abby Cox

Lodi, Calif. — Visintainer Group has brokered the sale of Vintner’s Square, a 183,195-square-foot shopping center located in Lodi, just south of Sacramento and east of San Francisco. The retail center was sold in a two-part transaction for $23.3 million. The front portion of the property — which comprises two parcels occupied by Panera Bread and F&M Bank — sold for $8.3 million. The remaining portion of the center — excluding a site occupied by In-N-Out — traded for roughly $15 million. Situated at the northwest corner of Lower Sacramento Road and Kettleman Lane, …

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Cornerstone-Court
Investment salesNew JerseyNews

Marcus & Millichap Brokers $3.9 Million Sale of Retail Center in Pennington, New Jersey

by Abby Cox

Pennington, N.J. — Marcus & Millichap has brokered the $3.9 million sale of Cornerstone Court, an 18,284-square-foot retail center located in Pennington, approximately eight miles north of Trenton. Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap represented the seller, a New Jersey-based private investor. Hyldahl, Cafiero and Goldberg, along with David Cafiero and Damien Rance, also procured the buyer, another private investor from New Jersey. Located at 1 Tree Farm Road, Cornerstone Court comprises ground-floor retail and second-story office space. The center, which was 77 percent occupied at …

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live-music-venue-missouri
DevelopmentEntertainmentMissouriNews

Kansas City Symphony to Develop New Venue in South Plaza District

by Abby Cox

Kansas City, Mo. — The Kansas City Symphony has unveiled plans to develop a new live music venue in the city’s South Plaza district. The indoor venue, designed for audiences of up to 4,600 guests and targeted to open in 2028, will host touring artists and support a limited number of Symphony performances that benefit from amplified or enhanced production formats. The project will also be designed to support the screening of films with live orchestra. Located at 4901 Main St., the venue will be walkable to the Country Club …

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Shoppes at Turkey Lake
FloridaInvestment salesNews

Marcus & Millichap Brokers $9.9 Million Sale of Retail Center in Orlando

by Abby Cox

Orlando, Fla. — Marcus & Millichap has brokered the $9.9 million sale of the Shoppes at Turkey Lake, a 19,213-square-foot retail center located in Orlando. Doug Mandel, Tarek Chbeir, Zach Levine and Cody Hershey of Marcus & Millichap represented the seller and procured the buyer, Darna Developments LLC, in the transaction. Built in 2014 on nearly 2 acres, Shoppes at Turkey Lake is fully leased to Rokka’s Market, AYR Cannabis Dispensary and Club Champion.

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