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Vineyard-Towne-Center
ArizonaDevelopmentLeasingNews

Vestar Completes $100 Million Vineyard Towne Center Retail Development in Queen Creek, Arizona

by Abby Cox

Queen Creek, Ariz. — Vestar, a privately held shopping center developer and manager based in Phoenix, has announced the completion of Vineyard Towne Center, a 260,000-square-foot retail development located in Queen Creek, approximately 45 miles northwest of Phoenix. Following the 2021 groundbreaking, the $100 million development is now fully leased. “This center has seen incredible leasing momentum, and the strong response from both tenants and residents underscores the demand for high-quality destinations that blend convenience, variety and an elevated sense of place,” says Jeffrey Axtell, executive vice president of development at …

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Geist-Landing
IndianaInvestment salesNews

Hanley Investment Group Arranges Sale of Four Retail Strip Centers in Indiana for $30.5 Million

by Abby Cox

Fishers and McCordsville, Ind. — Hanley Investment Group Real Estate Advisors has arranged the sale of four retail strip centers in separate transactions for $30.5 million in Indiana. Spanning 83,000 square feet, the properties include Brookschool Plaza, Sunblest Shoppes and Geist Landing in Fishers, and Geist Corner in McCordsville. Dylan Mallory of Hanley, in association with Parasell Inc., represented the seller in all four transactions. The first property, Brookschool Plaza, totals 22,400 square feet and was fully leased to tenants including Dunkin’, Sherwin-Williams and Ascension Medical Group. The seller was a …

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The-Bend_Chattanooga
DevelopmentFinanceMixed-useNewsTennessee

Hilco Provides $47.5M Construction Loan for Mixed-Use Development in Chattanooga, Tennessee

by Abby Cox

Chattanooga, Tenn. — Hilco Global Real Estate Capital has provided a $47.5 million loan to Urban Story Ventures to support the recapitalization and continued development of The Bend, a 100-acre mixed-use development underway in Chattanooga. Plans for the project, which will feature more than 3,000 linear feet of frontage along a bend of the Tennessee River, include approximately 1,700 residential units; 1.1 million square feet of office space; 1.2 million square feet of dining, shops and service retailers; 600 hotel rooms; entertainment and cultural venues; and a 300-slip marina. The …

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Franklin-Commons
FinanceGrocery-anchoredIndianaInvestment salesNews

MMCC Arranges $7.6 Million in Financing for Retail Center in Suburban Indianapolis

by Abby Cox

Franklin, Ind. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7.6 million in financing for Franklin Commons, an 85,980-square-foot retail center located in Franklin, about 20 miles south of Indianapolis. Garrett Fierstein of MMCC secured the financing with a local bank on behalf of the borrower. The five-year loan features a 6.5 percent interest rate, 25-year amortization period and a 70 percent loan-to-value ratio. Anchored by Kroger, Franklin Commons is also home to Marshalls, Ross Dress for Less, PetSmart and Five Below.

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Investment salesKentuckyNews

SRS Real Estate Negotiates Sale-Leaseback of 3,250-Square-Foot Single-Tenant Retail Property in Louisville, Kentucky

by Abby Cox

Louisville, Ky. — SRS Real Estate Partners has negotiated the sale-leaseback of a newly redeveloped, single-tenant retail property in Louisville. Taco Bell occupies the 3,250-square-foot building. Sarah Shanks and Morgan Zant of SRS Real Estate Partners represented the seller, Southpaw, a Connecticut-based Taco Bell franchisee. The buyer was a California-based private investor. 

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Derby Shopping Center
ConnecticutInvestment salesNews

IPA Negotiates $15.4 Million Sale of Derby Shopping Center in Connecticut

by Abby Cox

Derby, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $15.4 million sale of Derby Shopping Center, a 170,683-square-foot shopping center located in Derby, eight miles west of New Haven. Built in phases from 1985 to 2023, Derby Shopping Center is home to a mix of tenants including Splash Car Wash, Webster Bank, Dunkin and Lowe’s Home Improvement, which occupies 90 percent of the property’s total square footage. Jim Koury of IPA and Henry McKenney of Marcus & Millichap represented the seller and procured …

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Mulberry-Village
GeorgiaGrocery-anchoredInvestment salesNews

Essential Growth Properties Acquires Publix-Anchored Shopping Center in Mulberry, Georgia, for $13.4 Million

by Abby Cox

Mulberry, Ga. — Essential Growth Properties has acquired Mulberry Village, a 75,200-square-foot grocery-anchored center located in Mulberry, approximately 50 miles northeast of Atlanta, for $13.5 million. Built in 2008 on about 17 acres, Mulberry Village is anchored by a newly renovated Publix. Additional tenants at the center, which was 94 percent occupied at the time of sale, include Taco Bell, Maria’s Tex Mex, State Farm, Capital Nails, Spice Wing and Peking Chinese. The property also features four undeveloped outparcels for future use. Jim Hamilton, Brad Buchanan, Andrew Michols and Charlie …

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Shoppes at College Hills
IllinoisInvestment salesNews

Mid-America Arranges Sale of 144,555-Square-Foot Retail Center in Central Illinois

by Abby Cox

Normal, Ill. — Mid-America Real Estate Corp. has arranged the sale of Shoppes at College Hills, a 144,555-square-foot lifestyle center located in the college town of Normal. Hobby Lobby anchors the center, which was 96 percent leased at the time of sale. Additional tenants include J.Crew Factory, Starbucks, JD Sports, Maurices, Buckle, Comcast, Dry Goods, Charles Schwab, Massage Envy, J. Jill, Bath & Body Works, Chico’s, Soma, WHBM and Crumbl Cookies. Ben Wineman of Mid-America represented the seller, a joint venture between M&J Wilkow and ALTO Real Estate Funds, in the …

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EVO Entertainment
DevelopmentEntertainmentNewsTexas

EVO Entertainment Breaks Ground on 82,000-Square-Foot Venue in Metro Dallas

by Abby Cox

Forney, Texas — EVO Entertainment has broken ground on an 82,000-square-foot entertainment venue in Forney, approximately 20 miles east of Dallas. The new venue, which is scheduled to open this fall, will feature nine theaters, a full-service bar and restaurant, event and conference spaces, as well as an upper-level lounge area. Guests can also expect 22 bowling lanes, more than 125 arcade games, rock climbing walls, a multi-level ropes course, bumper cars and laser tag. The entertainment venue is part of The Village at Gateway, a 120-acre mixed-use development that …

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CaliforniaDevelopmentGrocery-anchoredInvestment salesNews

Renovation of Heritage Square Opens in Irvine, California

by Abby Cox

Irvine, Calif. — Construction has been completed on the renovation of Heritage Square, an 85,000-square-foot grocery anchored shopping center located in Irvine. The project, designed by Nadel Architects, consisted of a full aesthetic refresh of the center, which was originally built in 1984. Additional improvements included the repositioning of two existing shop buildings, the demolition of two outdated structures and the redevelopment of a new 28,000-square-foot retail market building. The center is managed by Meadows Asset Management. Situated adjacent to the 233,000-square-foot Heritage Plaza shopping center, Heritage Square is home to …

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