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West-Ashley-Shoppes_Charleston
Investment salesNewsSouth Carolina

Ziff Real Estate Partners Acquires Charleston Shopping Center for $22.6 Million

by Abby Cox

Charleston, S.C. — Locally based Ziff Real Estate Partners (ZRP) has acquired West Ashley Shoppes, a 136,327-square-foot shopping center located at 946 Orleans Road in Charleston’s West Ashley neighborhood. Baltimore-based Continental Realty Corp. (CRC) purchased the shopping center from ZRP for approximately $22.6 million via its Continental Realty Fund IV LP investment vehicle. Tom Kolarczyk of JLL represented the seller in the transaction. Situated across from Citadel Mall, West Ashley Shoppes was 90 percent leased at the time of sale to tenants including Ross Dress for Less, Dollar Tree and Cost …

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Boothel-Plaza
Investment salesMissouriNews

Marcus & Millichap Arranges $7 Million Sale of Bootheel Plaza in Kennett, Missouri

by Abby Cox

Kennett, Mo. — Marcus & Millichap has arranged the $7 million sale of Bootheel Plaza, a 126,193-square-foot shopping center located in Kennett, just three miles east of the Arkansas border. Built in 1973 on roughly 11.3 acres, Bootheel Plaza features 23 retail suites and is anchored by Tractor Supply. Other tenants at the center include Bealls, Dollar Tree, Hibbett Sports, Shoe Sensation, AT&T and AutoZone, according to LoopNet Inc. Austin Sweet, Chris Garavaglia and Alex Perez of Marcus & Millichap’s St. Louis office marketed the property on behalf of the seller …

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Reisterstown-Shopping-Center
Company newsGrocery-anchoredMarylandNews

Rappaport to Manage Reisterstown Shopping Center in Metro Baltimore

by Abby Cox

Reisterstown, Md. — McLean, Virginia-based Rappaport has been selected to provide leasing and management for Reisterstown Shopping Center, a 160,000-square-foot, grocery-anchored retail center located in Reisterstown, approximately 25 miles north of Baltimore. As part of the assignment, Rappaport will oversee $2 million in property upgrades. Built in 1964, Reisterstown Shopping Center is anchored by a 29,000-square-foot Lidl grocery store and a recently opened 33,000-square-foot Lowe’s Outlet. The center features a mix of additional tenants such as Starbucks Coffee, Chipotle Mexican Grill, Jersey Mike’s, Quickway Japanese Hibachi and Planet Fitness. Reisterstown …

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Sherwin-Williams-Portfolio
Investment salesMinnesotaNewsNorth DakotaSouth Dakota

Marcus & Millichap Brokers $18.7 Million Sale of Sherwin-Williams Retail Portfolio in Three States

by Abby Cox

Minnesota, North Dakota and South Dakota — Marcus & Millichap has arranged the $18.7 million sale of an 11-property Sherwin-Williams retail portfolio in Minnesota, North Dakota and South Dakota. Dominic Sulo and Jon Ruzicka of Marcus & Millichap represented the Minnesota-based private seller and procured the Michigan-based institutional buyer. The properties are located in Bemidji, Duluth, Fergus Falls, Grand Rapids, and Sartell, Minnesota; Bismarck and Grand Forks, North Dakota; and Sioux Falls, Tea and Watertown, South Dakota. They total approximately 55,590 rentable square feet. Prior to marketing efforts, Marcus & …

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Westfield-Ice-Facility
DevelopmentEntertainmentIndianaNews

Nicholas Family of Cos. to Develop Westfield Ice Facility in Metro Indianapolis

by Abby Cox

Westfield, Ind. — The Nicholas Family of Cos. will develop, build and operate Westfield Ice Facility, a new multi-sheet indoor ice facility in the northern Indianapolis suburb of Westfield. The project will serve as a catalyst for further growth of the Grand Park District, a mixed-use development near the Grand Sports Campus, a major youth sports destination. Westfield Ice Facility will feature three NHL-sized stadium-style rinks, with a potential fourth rink for future expansion. Tiered seating will host up to 3,500 spectators. The project will also include a full-service restaurant, …

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Somerset Shopping Center
Grocery-anchoredLeasingNew JerseyNews

Levin Management Signs Lease with Sprouts Farmers Market to Anchor Somerset Shopping Center in New Jersey

by Abby Cox

Bridgewater, N.J. — Levin Management Corp. (LMC) has signed a 28,750-square-foot lease with Sprouts Farmers Market to anchor Somerset Shopping Center, a 219,000-square-foot shopping center located in the northern New Jersey community of Bridgewater. Vanessa Kelty and Ed Vasconcellos of LMC represented the landlord in the lease negotiations, while Mike Horn and Steven Winters of RIPCO Real Estate represented Sprouts Farmers Market. Sprouts will serve as a co-anchor to Barnes & Noble. The Sprouts lease follows a series of recent additions and openings at Somerset Shopping Center, including D1 Training, …

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Linthicum-Heights-retail-rendering
DevelopmentLeasingMarylandNews

SRS Real Estate Completes Lease-Up of 10,576-Square-Foot Retail Development in Metro Baltimore

by Abby Cox

Linthicum Heights, Md. — SRS Real Estate Partners has completed leasing for a newly developed, 10,576-square-foot retail development in Linthicum Heights, just south of Baltimore and adjacent to the Baltimore-Washington International Thurgood Marshall Airport (BWI). Situated at 1709-1713 W. Nursery Road, the retail center is home to Paris Baguette, Buffalo Wild Wings GO, Sardi’s Peruvian Chicken, Tropical Smoothie Café and Jersey Mike’s Subs. Arris Noble and Rachel Callender of SRS Real Estate Partners represented the landlord, a Washington, D.C.-based private investor and developer, in the lease negotiations.

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Company newsIndianaNews

David Simon Passes Away at Age 64

by Abby Cox

Indianapolis — David Simon, chairman, CEO and president of Simon Property Group, passed away Sunday, March 22, after a battle with cancer. He was 64 years old. Simon Property Group’s board has appointed David Simon’s son, Eli Simon, as CEO and president. Eli Simon will also continue his role as COO and director of the company. Additionally, board member Larry Glasscock has been appointed to serve as non-executive chairman. David Simon joined the company’s predecessor, Melvin Simon & Associates, as CFO in 1990. In 1993, at 31 years old, he …

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Victor-Town-Center
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $7 Million Sale of Victor Town Center in Victorville, California

by Abby Cox

Victorville, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $7 million sale of Victor Town Center, a 47,650-square-foot retail property located in Victorville, approximately 35 miles north of San Bernardino. The three-tenant center is leased to dd’s DISCOUNTS, a Department of Veterans Affairs outpatient clinic and a 16-stall Tesla Supercharger station, which is situated within the property’s parking lot. Ayda Kach and Sean Cox of Hanley Investment Group, along with Greg Bedell of Progressive Real Estate Partners, represented the seller, PacWest Management Inc, in the transaction. The all-cash …

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ArizonaDevelopmentNews

Diversified Partners to Develop New Retail Center in San Tan Valley, Arizona

by Abby Cox

San Tan Valley, Ariz. — Diversified Partners has announced plans to develop a 3.84-acre retail center at the southeast corner of Bella Vista and Gantzel roads in San Tan Valley, roughly 46 miles east of Phoenix. The planned development will include multiple retail pads, with up to 1.9 acres available for sale or ground lease. A Terrible’s convenience store and gas station will anchor the project. Further details of the development have not been disclosed.

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