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Townridge-Shopping-Center
FinanceInvestment salesNewsNorth Carolina

ACD Acquires Townridge Shopping Center in Raleigh, North Carolina, for $36 Million

by Abby Cox

Raleigh, N.C. — Armstrong Capital Development (ACD) has acquired Townridge Shopping Center, a 273,105-square-foot retail property located in Raleigh. Walmart and Planet Fitness anchor the center, which was 96 percent leased at the time of sale. Other tenants include Chipotle Mexican Grill, Advance Auto Parts, Cato, AT&T, Burger King, Edible Arrangements and Papa Johns Pizza, according to LoopNet Inc. The property features five buildings at Townridge Shopping Center, along with a single building at the adjacent Village at Townridge, that function together as a unified commercial site. Tom Kolarczyk, Michael Nieder …

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D&W Fresh Market
Investment salesMichiganNews

SRS Real Estate Negotiates $6.9 Million Sale of Single-Tenant Grocery Property in Kalamazoo, Michigan

by Abby Cox

Kalamazoo, Mich. — SRS Real Estate Partners has negotiated the $6.9 million sale of a single-tenant grocery property located in Kalamazoo. D&W Fresh Market occupies the 29,000-square-foot building on a corporate-guaranteed absolute triple-net lease. The current lease extends through 2031 and includes three five-year renewal options. The building was originally built in 1955.   Jeff Gates of SRS represented the seller, a Toronto-based investor group, in the transaction.  The buyer was an institutional investor. 

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peets-coffee
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $5 Million Sale of Single-Tenant Retail Property in Alameda, California

by Abby Cox

Alameda, Calif. — Marcus & Millichap has arranged the $5 million sale of a single-tenant retail property located in the Bay Area city of Alameda. Peet’s Coffee & Tea occupies the 3,000-square-foot building on a 10-year lease with annual rent increases. Mark Mason of Marcus & Millichap procured the buyer, a California-based private corporate trust. Brandon Norton and David Lucas of Monarch Commercial Advisors represented the seller, a California-based add-value private client.

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CaliforniaNew JerseyNewsRetailers

Spencer Spirit Holdings to Acquire Hot Topic, Expanding to More Than 3,000 Stores

by Abby Cox

City of Industry, Calif. and Egg Harbor Township, N.J. — Spencer Spirit Holdings has signed a definitive agreement with Sycamore Partners to acquire Hot Topic and its portfolio of brands: Hot Topic, BoxLunch and Her Universe. The transaction unites six complementary retail concepts under one umbrella, expanding the combined company’s total footprint to more than 3,000 stores across North America. After closing, Hot Topic, BoxLunch and Her Universe will continue to operate independently from the Spencer Spirit business and maintain their existing headquarters in California. The transaction, which is subject to customary …

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Newmans-Crossing
Grocery-anchoredInvestment salesNewsTennessee

Blackwater Real Estate Sells 63,987-Square-Foot, Grocery-Anchored Center in Metro Nashville, Tennessee

by Abby Cox

Gallatin, Tenn. — Blackwater Real Estate has sold Newmans Crossing, a 63,987-square-foot retail center located in Gallatin, approximately 30 miles northeast of Nashville. Built in 2022 and 2023, the fully leased property is anchored by a 48,387-square-foot Publix. Additional tenants include Agaves Mexican Restaurant, Kung Fu Tea, Ichiban Steak Express, Fowler Family Dentist, Galaxy Nail Bar and Crown & Iris. Jim Hamilton, Brad Buchanan and Charlie Merrigan of JLL represented Blackwater Real Estate in the transaction. Publix purchased the property for an undisclosed price.

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Park-Plaza
Investment salesNew JerseyNews

Marcus & Millichap Brokers $14.7 Million Sale of Retail Center in Central New Jersey

by Abby Cox

Matawan, N.J. — Marcus & Millichap has brokered the $14.7 million sale of Park Plaza, a 61,750-square-foot retail center located in Matawan, approximately 40 miles south of Manhattan. Built in 1986, the property features 20 retail suites and a mix of dining, lifestyle and service-oriented tenants, including a Dunkin’ with a drive-thru. Seth Goldberg, Brent Hyldahl and Alan Cafiero of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both private investors from New Jersey. 

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Hylo-Park-South
DevelopmentGrocery-anchoredNevadaNews

Agora Realty Completes Construction of 90,750-Square-Foot, Grocery-Anchored Center in North Las Vegas

by Abby Cox

North Las Vegas, Nev. — Agora Realty has completed the construction of Hylo Park South, a 90,750-square-foot retail center located in North Las Vegas. The property will serve as the central gathering place for Hylo Park, a 73-acre master-planned community currently under development. The 11-acre center is 95 percent leased to tenants including Ross Dress for Less, Starbucks Coffee, Chipotle Mexican Grill, In-N-Out Burger, PDS Health, AT&T, The UPS Store, Chase Bank, Allstate, Sourdough & Co. and Tesla. Cardenas Markets anchors the property, which will open in early 2027.

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north-bridge
DevelopmentIllinoisNews

Pacific Life, Centennial to Renovate The Shops at North Bridge in Chicago

by Abby Cox

Chicago — The Shops at North Bridge, a 678,000-square-foot retail center located along Chicago’s Magnificent Mile, is undergoing a $40 million renovation led by owner Pacific Life and property manager Centennial Real Estate. The multi-phase restoration will introduce a new street presence, hospitality-inspired interiors and a reimagined mix of retail and dining. The redesigned entrance at the property will emphasize visual connectivity between Michigan Avenue and the interior retail environment, and will include updated tenant signage and architectural enhancements. Nordstrom’s flagship location will remain a central component of the design. …

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7-11-Walterboro-SC
Investment salesNewsSouth Carolina

Marcus & Millichap Brokers $9.5 Million Sale of Single-Tenant Retail Property in Walterboro, South Carolina

by Abby Cox

Walterboro, S.C. — Marcus & Millichap has brokered the $9.5 million sale of a newly constructed gas station and convenience store located in Walterboro. 7-Eleven and a CAT Scale weigh station occupy the 4,824-square-foot property. Haris Hanifi and Robert Filley of Marcus & Millichap represented the buyer in the transaction. Benjamin Yelm was the firm’s broker of record in South Carolina.

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ArizonaGrocery-anchoredMixed-useNews

Safeway Opens 64,000-Square-Foot Location at The Gilmore Mixed-Use Development in Metro Phoenix

by Abby Cox

Gilbert, Ariz. — Safeway has opened a 64,000-square-foot location at The Gilmore, a 35-acre mixed-use development by Thompson Thrift in the Phoenix suburb of Gilbert. Safeway will anchor the $225 million project, which is also set to feature 300 luxury apartments, a hotel and roughly 200,000 square feet of boutique shopping, dining and public gathering spaces. Additional tenants will include Better Buzz Coffee, Handel’s Ice Cream, Jersey Mike’s, Nook Kitchen, Over Easy, EDO Japan, Rebel Wine Lounge, Phantom Fox Brewery, Outcast Doughnuts, Level 1 Arcade Bar, Sweathouz and Honey Go Nails. …

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