REBusinessOnline

Five New Retailers to Open in Alpharetta City Center by Black Friday

ALPHARETTA, GA. — Magnolia Moon, Mountain High Outfitters, Perched, The Red Hound and Spirited Boutique have all either opened or plan to open new stores in Alpharetta City Center (ACC) by Black Friday. ACC is a 26-acre, mixed-use property located in Alpharetta, about 26 miles north of downtown Atlanta. The development opened in January 2015 in a public-private partnership between South City Partners, Morris & Fellows and the City of Alpharetta to expand the existing downtown area by six …

GSAM Real Estate, Madison Marquette Acquire Retail Center in Newark

NEWARK, N.J. — Goldman Sachs Asset Management Private Real Estate and Madison Marquette have acquired Springfield Avenue Marketplace, a newly constructed, 112,000-square-foot retail center in Newark. The sales price was not disclosed. The fully occupied property is anchored by a ShopRite grocery store and includes a mix of restaurant, retail and medical tenants. The seller was not disclosed. Springfield Avenue Marketplace is located at the intersection of Springfield Avenue and Jones Street, …

Quantum Brokers $1.2M Sale of Retail Building in Fairborn, Ohio

FAIRBORN, OHIO — Quantum Real Estate Advisors Inc. has brokered the $1.2 million sale of Shops at Valle Green in Fairborn, about 12 miles northeast of Dayton. The 5,000-square-foot property is located at 1171 E. Dayton Yellow Springs Road. The asset is fully leased to Verizon, Great Clips and Hot Head Burritos. Daniel Waszak and Zack Hilgendorf of Quantum represented the private seller. A Midwest-based investment fund purchased the

Ollie’s Bargain Outlet Celebrates Opening of 300th Store Near Baltimore

GLEN BURNIE, MD. — Ollie’s Bargain Outlet Holdings Inc. has opened a new store in Glen Burnie to mark its 300th location. The new store is located about 10 miles south of downtown Baltimore in a former Toys “R” Us. The Harrisburg, Pa.-based company opened its first store 36 years ago in Mechanicsburg, Pa., and now has stores in 23 states. The milestone location was opened on the same day as several other Ollie’s Bargain Outlet stores, bringing the company’s total to 303. Ollie’s …

SRS Real Estate Orchestrates $1.9M Sale of Retail Property in Massachusetts

SOUTH DEERFIELD, MASS. — SRS Real Estate Partners has arranged the $1.9 million sale of a single-tenant retail property in South Deerfield. The property is triple-net leased by Cumberland Farms Inc. The newly developed 4,786-square-foot property is situated on just under two acres of land at 31 Elm St. Britt Raymond, Matthew Mousavi, Patrick Luther and Kyle Fant of SRS represented the seller, a local developer, in the transaction. The buyer was a private

NAI Hanson Negotiates Sale of 2,200 SF Retail Property in New Jersey

BLOOMINGDALE, N.J. — NAI James E. Hanson has negotiated the sale of a 2,200-square-foot retail property in Bloomingdale. The sales price was undisclosed. LJ Koch of NAI James E. Hanson represented the seller, Waldo LLC, in the transaction. The buyer was undisclosed. Located at 217 Hamburg Turnpike, the building previously served as the home of Walker’s Deli. The new owner plans to renovate and reopen the space as a high-end café, which will feature unique coffee drinks, homemade baked …

CBRE Brokers Sale of 112,335 SF Santa Fe Trail Plaza in El Monte, California

EL MONTE, CALIF. — CBRE has arranged the sale of Santa Fe Trail Plaza, a grocery-anchored community center in El Monte, east of downtown Los Angeles. A joint venture between Los Angeles-based Festival Capital and Hartford, Conn.-based Hutensky Capital Partners sold the 112,335-square-foot shopping center to Newport Beach, Calif.-based TA Realty for an undisclosed price. Completed in 2006, Santa Fe Trail Plaza is situated on 9.2 acres at 10601-10761 Valley Blvd. and 10714 King Court. …

DRA Advisors, Pine Tree Acquire 171,339 SF Retail Center in Suburban Chicago for $32.5M

KILDEER, ILL. — A joint venture between DRA Advisors and Pine Tree LLC has acquired The Shops at Kildeer, a 171,339-square-foot retail center located in the Chicago suburb of Kildeer, for $32.5 million. Bed Bath & Beyond, Ulta Beauty, Michael’s, Old Navy, Uncle Dan’s and Cost Plus World Market anchor the center. George Good and Christian Williams of CBRE brokered the transaction. William Barry of Draper and Kramer arranged acquisition financing through Wells Fargo on behalf of the …

JSM Acquires Former Kmart Store in Zion, Illinois for $2.3M

ZION, ILL. — JSM Venture Inc. has acquired a former Kmart store located at 3355 Sheridan Road in Zion for $2.3 million. JSM plans to convert the 90,426-square-foot building into a self-storage facility with 69,750 rentable square feet. Of the 619 total units, 96 percent are expected to be climate-controlled. Patrick Turner and Brendan Green of Colliers International represented JSM. Paine/Wetzel represented the seller, Amin & Shah Solutions LLC.

EDENS, Crescent Break Ground on Retail, Residential Development in Atlanta’s Upper Westside

ATLANTA — EDENS and Crescent Communities have broken ground on Phase II of Moores Mill, a mixed-use development in Atlanta’s Upper Westside neighborhood. Charlotte-based Crescent Communities, a multifamily developer, will build 345 units across three buildings over five acres called NOVEL Upper Westside. The complex will total 300,000 square feet and offer one- , two- and three-bedroom options. Amenities are set to include a fitness center, pool, courtyard, refined rooftop lounge and a dog …

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