DENTON, TEXAS — Kansas City-based EPC Real Estate Group will build The Village at Rayzor Ranch, a 292-unit apartment community situated on an 11–acre parcel at Rayzor Ranch Town Center in Denton. The property will feature a mix of one- and two-bedroom units and amenities such as a resort-style pool, outdoor grilling areas, a fitness center and a dog park. EPC expects to break ground on the property in early 2018. Construction of a 7,500-square-foot Cheddar’s Scratch Kitchen and a Zoe’s..
ANAHEIM, CALIF. — Savills Studley has arranged the $18.5 million sale of Anaheim Lincoln Shopping Center, a 72,950-square-foot retail center located roughly 27 miles outside Los Angeles in Anaheim. Savills Studley’s Kyle Miller and Bill Bauman brokered the transaction. A Los Angeles-based private investor acquired the center from an undisclosed private partnership. Vallarta Supermarket anchors the property.
FORT LAUDERDALE, FLA. — NAI Rauch Weaver Norfleet Kurtz & Co., a Fort Lauderdale affiliate of NAI Global, has arranged the $49.5 million sale of a four-store Walmart Neighborhood Market portfolio located in Chattanooga, East Ridge, Murfreesboro and Knoxville. Frank Castoro of NAI represented the buyer, a series of special purpose entities (SPE). The sites were build-to-suit prototypes for the store and are triple-net-leased to Walmart Neighborhood Market for 15 years with 18 five-year..
ATLANTA — InvenTrust Properties Corp. has purchased The Plaza Midtown, a 70,000-square-foot, Publix-anchored retail center in Atlanta’s Midtown district, for $31.8 million. The property is located roughly half a mile from the Georgia Institute of Technology. In addition to Publix, The Plaza Midtown is home to restaurants, fitness concepts and beauty retailers. The seller was not disclosed. With this acquisition, Downers Grove, Ill.-based InvenTrust owns and manages 85 retail properties..
INDIAN TRAIL, N.C. — SRS Real Estate Partners has brokered the $11.2 million sale of Union Town Centre, a 102,360-square-foot shopping center in Indian Trail, roughly 16 miles southeast of Charlotte. Kyle Stonis and Pierce Mayson of SRS represented the seller, Equity Investment Group, in the sale to Katz Properties LLC. Situated on 15 acres at 5850 Highway 74 West, Union Town Centre is anchored by Food Lion and Dollar Tree.
COLUMBUS, OHIO — PGIM has provided a $33 million, two-year bridge loan for the Graceland Retail Center in Columbus. The shopping center spans 320,000 square feet. Anchor tenants include Kroger, LA Fitness and Michaels. The center was originally constructed in 1954 and redeveloped in 2005. Christy Lockridge and Craig Foreman of PGIM led the loan transaction on behalf of PGIM. Unnamed institutional investors were the borrowers. “This loan on a grocery-anchored retail center will help the..
PLAINFIELD, ILL. — Adelphia Properties has brokered the sale of a 5,550-square-foot retail building in Plainfield for $2.6 million. The newly constructed property is located at 12750 S. Route 59, about 38 miles southwest of Chicago. Tenants include Potbelly and T-Mobile, with one vacant unit. George Spirrison and Simeon Spirrison of Adelphia Properties represented the buyer, a private investor. A Chicago-based developer was the seller.
It was not so long ago that the actual merchandise was the focal point of most malls and shopping centers throughout the country. Technology, social media and the rise of a new generation has changed that focus. Or, at least, altered that focus, blurring the lines between products and services, retail and entertainment and ecommerce and bricks and mortar. Nowadays, shopping centers and the store brands that inhabit them must be much more. In fact, many are now tasked with being all things to..
GAINESVILLE, TEXAS — Villa Grande Mexican Restaurant will open a 3,800-square-foot location at 201 N. Interstate 35 in the North Texas city of Gainesville. Paul Vernon of Henry S. Miller Brokerage LLC represented the tenant in the lease negotiations. Jim Jamerson and Kenley Minchew of The John T. Evans Co. represented the landlord, CR Midway Investment LP. The location, which is the restaurant’s fifth, will open in October.
STERLING HEIGHTS, MICH. — Time Equities Inc. (TEI) has acquired Clinton Valley Shopping Center in Sterling Heights for $23.5 million. The 205,435-square-foot retail center is located at 44809 Schoenherr Road. The property is currently 91 percent occupied. Tenants include Hobby Lobby, Office Depot, DSW, OptimeEyes, Avenue, GameStop, Lifeway Christian, Carrabba’s Italian Grill and BD’s Mongolian Barbeque. Ami Ziff, Jonathan Kim and Adam Levitt of TEI represented TEI in the acquisition. Ben..