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FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $75 Million Loan for Acquisition, Redevelopment of Grocery-Anchored Center in Queens

by Abby Cox

New York City — Northmarq has arranged a $75 million loan for the acquisition and redevelopment of Whitestone Shopping Center, a 119,584-square-foot shopping center located in the northern Whitestone neighborhood of Queens. According to Long Island Business News, BTF Whitestone LLC purchased the center for $56 million. Key Food Supermarket anchors the property, which was originally built in 1955. Additional tenants include Webster Bank and JPMorgan Chase. Robert Delitsky and Keith Braddish of Northmarq secured financing through Acadia Realty Trust on behalf of the borrower.

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Southern Shopping Center
Grocery-anchoredInvestment salesNewsVirginia

Crosland Southeast Sells Grocery-Anchored Shopping Center in Norfolk, Virginia, for $31.2 Million

by Abby Cox

Norfolk, Va. — Charlotte, North Carolina-based Crosland Southeast, along with an undisclosed joint venture partner, has sold Southern Shopping Center, a 235,070-square-foot retail property located in Norfolk, for $31.2 million. Tenants at the center, which was 90 percent leased at the time of sale, include Food Lion, Ross Dress for Less, Planet Fitness, Dollar Tree, Advance Auto Parts and Bojangles. Alex Quarrier and Thompson Brown of Berkeley Capital Advisors represented the seller. The buyer was Tampa, Florida-based East Coast Acquisitions.

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Investment salesMixed-useNew JerseyNews

Marcus & Millichap Brokers $5.3 Million Sale of Retail, Office Property in Westfield, New Jersey

by Abby Cox

Westfield, N.J. — Marcus & Millichap has brokered the $5.3 million sale of 251 North Avenue West, a 17,831-square-foot retail and office building located in the Northern New Jersey community of Westfield. The three-story building features nine suites and was renovated in 2014. Tenants at the property include Columbia Bank, Edward Jones, the State of New Jersey, BAYADA Home Health Care and Rooster Spin. Alan Cafiero, David Cafiero and Damien Rance of Marcus & Millichap marketed the property on behalf of the seller and procured the private buyer.

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Pacific-Pearl-Pleasanton-CA
CaliforniaLeasingNews

Pacific Pearl Shopping Center in Pleasanton, California, Welcomes Four New Tenants

by Abby Cox

Pleasanton, Calif. — Pacific Pearl Shopping Center, a 110,511-square-foot retail property located in the Bay Area city of Pleasanton, has welcomed four new tenants. Taiwanese tea house and bubble tea chain Chica San Chen is scheduled to open a 1,037-square-foot space late this month. Eight Turn Crepe, a fast-casual Japanese-style creperie, will debut a 1,647-square-foot eatery in late September or early October. Upon finalized plans, an opening date will be announced for Yogurtland, which signed a 1,220-square-foot lease at the center. Lastly, HiroNori Craft Ramen will occupy a 1,404-square-foot space, where …

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Liberty-Center
DevelopmentMixed-useNewsOhio

Liberty Center Undergoes $20 Million Renovation in Suburban Cincinnati

by Abby Cox

Liberty Township, Ohio — Liberty Center, a mixed-use property located in the Cincinnati suburb of Liberty Township, is undergoing $20 million in renovations. Centennial, powered by Lincoln, serves as asset manager for the Apollo-owned property and is leading the execution of these initiatives. Plans for the 64-acre campus include tenant upgrades, the addition of first-to-market entertainment concepts and customer experience enhancements. Development approvals for a hotel and 300-unit multifamily component were also recently secured. Dick’s Sporting Goods is remodeling its space with interior upgrades and the addition of experiential amenities …

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Legacy Drive Village
Grocery-anchoredInvestment salesNewsTexas

JLL Arranges Sale of 138,266-Square-Foot, Grocery-Anchored Retail Center in Plano, Texas

by Abby Cox

Plano, Texas — JLL Capital Markets has arranged the sale of Legacy Drive Village, a 138,266-square-foot retail center located in Plano. Kroger anchors the fully leased property, which was built in 1994. Additional tenants include Dunkin’, Einstein Bros. Bagels, Palm Beach Tan, Subway and Wingstop. Chris Gerard, Kristi Leonard, Ben Pollack and Alex Fronterhouse of JLL represented the owner, a joint venture managed by Weitzman, in bringing in an institutional investor as an equity partner in the property.

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DevelopmentMichiganNewsRestaurants

Shipley Do-Nuts Signs 15-Unit Franchise Agreement in Michigan

by Abby Cox

Houston — Shipley Do-Nuts has signed a franchise agreement with Hole Lotta Dough LLC to open 15 new units in Michigan. The agreement will bring Shipley Donuts to Oakland, Macomb and Wayne counties across the Metro Detroit area, with the first location targeted to open late in the first quarter of 2027. The agreement also establishes plans to open three additional shops per year for the next four years, resulting in 15 new stores over a five-year development period. In addition, Shipley announced it will enter Ohio with a three-unit franchise …

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HawaiiLeasingNews

GGP Signs Leases with Four New Tenants at Ala Moana Center in Honolulu

by Abby Cox

Honolulu — GGP has signed leases with four new tenants at Ala Moana Center, a 2.4 million-square-foot open-air center located in Honolulu. Kaikoa Gallery, NARA and POP MART are set to open this August. Kids City Adventure will join previously announced tenants BB Wellness and Molly Tea, which are all scheduled to open in October. Recently opened tenants at the center include Ali‘i Coffee Company, gorjana, Lume Harmony, MINISO and Studs. Crocs will also reopen at the center in September, and Tiffany & Co. will relocate temporarily while its permanent location …

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potomac-place-shopping-center
FinanceGrocery-anchoredMarylandNews

Northmarq Arranges $50.8 Million in Financing for Grocery-Anchored Retail Property in Metro Washington, D.C.

by Abby Cox

Potomac, Md. — Northmarq has arranged $50.8 million in permanent, fixed-rate financing for Potomac Place Shopping Center, an 80,040-square-foot retail property located in Potomac, roughly 15 miles northwest of downtown Washington, D.C. Originally constructed in 1967, Potomac Place is anchored by Safeway and features a mix of additional tenants such as Chipotle Mexican Grill, Starbucks Coffee, Mathnasium, Rose Home Services, Walgreens, PNC Bank and East West Tae Kwon Do. Jason Smith and Kenneth Gentzel of Northmarq arranged the loan through Nationwide Life Insurance Co. on behalf of the borrower, Zuckerman Gravely.

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Livingston-retail-office
Investment salesMixed-useNew JerseyNews

Marcus & Millichap Brokers $7 Million Sale of Retail, Office Property in Northern New Jersey

by Abby Cox

Livingston, N.J. — Marcus & Millichap has brokered the $7 million sale of 107 E. Mount Pleasant Avenue, a 26,240-square-foot retail and office property located in the Northern New Jersey community of Livingston. The two-story property was built in 1970 and comprises 19 units, 75 parking spaces and a newly constructed car wash. The property was 92 percent leased at the time of sale to 17 tenants including the Kumon Institute, a deli, café and pharmacy. Alan Cafiero, David Cafiero and Damien Rance of Marcus & Millichap marketed the property on …

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