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The Gardens
Investment salesNew JerseyNews

JLL Arranges $27.9 Million Sale of 167,532-Square-Foot Retail Portfolio in Mt. Olive, New Jersey

by Abby Cox

Mt. Olive, N.J. — JLL Capital Markets has arranged the $27.9 million sale of a net-leased retail portfolio totaling 167,532 square feet in in the northwestern township of Mt. Olive. The deal comprises nine properties that make up the fully leased power center known as The Gardens, which includes a standalone 135,039-square-foot Lowe’s Home Improvement store and seven pad sites spanning a combined 32,493 square feet. Tenants at the property include Applebee’s Grill & Bar, LongHorn Steakhouse, Panera Bread, Wells Fargo, McDonald’s, Wendy’s, Panda Express and Chipotle Mexican Grill. Kevin …

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green-bay-plaza
Investment salesNewsWisconsin

Hanley Investment Negotiates $25.4 Million Sale of Green Bay Plaza in Wisconsin

by Abby Cox

Green Bay, Wis. — Hanley Investment Group Real Estate Advisors has negotiated the $25.4 million sale of Green Bay Plaza, a 232,796-square-foot shopping center located in Green Bay near the Lambeau Field football stadium. Anchored by T.J. Maxx, HomeGoods and Ross Dress for Less, the property was 89 percent occupied at the time of sale. Other tenants include Dollar Tree, Sierra, Five Below, Crunch Fitness, Burlington and Skechers Warehouse Outlet. Green Bay Plaza was originally built in 1960 and expanded in 2003. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley, …

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Old Lyme Marketplace
ConnecticutGrocery-anchoredInvestment salesNews

Joint Venture Acquires 102,500-Square-Foot Old Lyme Marketplace in Connecticut

by Abby Cox

Old Lyme, Conn. — A joint venture between Zelco Properties & Development, Grossman Development Group and The McDevitt Co. has acquired Old Lyme Marketplace, a 102,500-square-foot community shopping center in Old Lyme, approximately 40 miles southeast of Hartford. Big Y Supermarket anchors the property, which features a mix of additional tenants including Walgreens, Grand Wine & Spirits and The Bowerbird gift shop. With the acquisition, the joint venture plans to renovate the property with aesthetic enhancements and targeted leasing initiatives. The center was originally built in 1959 on nearly 24 acres, …

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North-Town-Centre
Investment salesNewsWisconsin

Infinite Equity Capital Sells 96,323-Square-Foot Retail Center in Northern Wisconsin

by Abby Cox

Antigo, Wis. — Infinite Equity Capital LLC has sold North Town Centre, a 96,323-square-foot retail center located in the northern Wisconsin city of Antigo, for $5.2 million. Built in 1988, the property is anchored by T.J. Maxx, Dunham’s Sports, Dollar Tree and Shoe Sensation. More than 67 percent of the occupied gross leasable area has operated at the center for more than 14 years. Rick Drogosz, Emily Gadomski, Eric Geskermann and Dan Rosenfeld of Mid-America Real Estate Corp. represented the seller. The center was fully leased at the time of …

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ArizonaDevelopmentNews

Diversified Partners to Develop 120,000-Square-Foot Retail Development in Surprise, Arizona

by Abby Cox

Surprise, Ariz. — Diversified Partners has unveiled plans to develop a new 120,000-square-foot retail development within the master-planned community of Prasada in Surprise, roughly 30 miles northwest of Phoenix. The project will feature 16 acres of pad sites, shop space, auto and storage opportunities, as well as ground lease and build-to-suit options. Current confirmed tenants include a convenience store with an attached gas station, national drive-thru restaurant brands and a veterinary clinic, with additional tenants in negotiations across dining, wellness, automotive and lifestyle categories. Delaney McGroarty of Diversified will handle …

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Whole-Foods_Kailua-Town
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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