Retail

SAN ANTONIO — A joint venture between two locally based firms, Headwall Investments and SageView Partners, has purchased The Colonnade Retail Center in San Antonio. The 126,549-square-foot shopping center sits on a 5.4-acre site on the city’s northwest side. Tenants at The Colonnade include Firehouse Subs, Great Clips, The Honey Baked Ham Co., First Watch and PJ’s Coffee of New Orleans. The seller and sales price were not disclosed.

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ATLANTA — Centennial Yards Co., a development entity owned by Los Angeles-based CIM Group, has unveiled plans for the next phase of its $5 billion mixed-use destination in downtown Atlanta. Spanning eight acres adjacent to Mercedes-Benz Stadium and State Farm Arena, the new phase of Centennial Yards will create a mixed-use entertainment district spanning 480,000 square feet across four buildings, as well as a fan gathering area that the developer says will be heavily utilized during the games held in Atlanta during the 2026 FIFA World Cup. Designed by Gensler, the new phase will comprise a three-story, 70,000-square-foot building housing an unspecified “eatertainment” concept; a four-story, 160,000-square-foot building hosting a single-tenant entertainment venue; a two-story, 50,000-square-foot building with restaurants and shops; and a 14-story, 233-room hotel. Centennial Yards represents the transformation of the city’s Gulch district, a 50-acre site that has primarily served as subterranean parking for Atlanta Falcons games in years past. Including the new entertainment district, Centennial Yards at full build-out will span 8 million square feet of new and converted offices, apartments, hotels, shops, entertainment venues and restaurants, including Wild Leap Brewery. Centennial Yards Co. plans to deliver two-thirds of the overall development by summer 2026.

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MARLBOROUGH, MASS. — BJ’s Wholesale Club, an operator of member retail warehouse locations, plans to open five new clubs in the Southeast and Indiana this fiscal year, which ends Feb. 1, 2025. The new clubs will be located in Maryville, Tenn., a suburb of Knoxville; Myrtle Beach, S.C.; Palm Coast and West Palm Beach in South Florida; and Carmel, Ind., a suburb of Indianapolis. Earlier this month, the Marlborough-based company announced its plans to open a new store near Jefferson Mall in Louisville, Ky. BJ’s Wholesale expects each new club to create roughly 150 new jobs. The company first opened its warehouse club model in New England in 1984. Today, BJ’s Wholesale operates 244 clubs and 175 BJ’s Gas stations in 20 states.

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SANFORD, FLA. — CTO Realty Growth has acquired Marketplace at Seminole Towne Center, a 318,000-square-foot power retail center located in Sanford, approximately 25 miles north of Orlando. An undisclosed seller sold the center for $68.7 million. Situated on 41 acres along I-4, the property was 98 percent leased at the time of sale. Burlington, Marshalls, World Market, Petco, Ross Dress for Less, Old Navy, Ulta Beauty and Five Below anchor the center. The Orlando-based REIT purchased Marketplace at Seminole Towne Center through a 1031 exchange.

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Elements-Horsham

HORSHAM, PA. — New Jersey-based investment firm First National Realty Partners (FNRP) has acquired Elements Horsham, a 50,353-square-foot retail property located about 25 miles north of Philadelphia. The property was 94 percent leased at the time of sale to tenants such as Starbucks, MaGerk’s Pub & Grill, Aqua-Tots Swim School, TruMark Financial and Charles Schwab. James Galbally, Patrick Higgins, Chris Munley and Colin Behr of JLL represented the undisclosed seller in the transaction.

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MESA, ARIZ. — Peak Southern LLC has purchased a 5.8-acre land site, located at 10834 E. Southern Ave. in the Phoenix suburb of Mesa. Signal Butte & Southern LLC sold the property for $3 million. John Jackson and Kristina Remon of Colliers in Arizona negotiated the transaction. The buyer plans to develop a retail center on the site. According to Colliers, the property will be divided into three pad sites that are available for purchase, build-to-suit or ground lease, and construction of the retail buildings will be based on purchase or lease timing.

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BUCKEYE, ARIZ. — Sunbelt Investment Holdings (SIHI) has broken ground on Buckeye Commons, a retail center at the southeast intersection of Interstate 10 and Verrado Way in Buckeye, a suburb west of Phoenix. Butler Design Group designed the project, with CHASSE Building Team as general contractor. Buckeye Commons will feature more than 410,000 square feet of retail space. Currently signed tenants include Over Easy, Starbucks Coffee, Jimmy John’s, The Joint Chiropractic, State Farm and DIP Nail Bar, as well as a 160,938-square-foot Costco that opened in July 2023. The first store openings at Buckeye Commons are slated for mid-2025. Greg Laing, Zach Pace and Teale Bloom of Phoenix Commercial Advisors executed the current leases, which represent approximately 60 percent of the property’s first phase of shops and pads.

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TROY, N.Y. — Marcus & Millichap has brokered the $18 million sale of Hudson River Commons, a 129,059-square-foot shopping center in Troy, located just north of Albany. Big Lots anchors the center, which sits on a 12.2-acre site and was 97 percent leased at the time of sale. Other tenants include Friendly’s, Sonic, Subway, Starbucks, Family Dollar and Saratoga National Bank. Joseph French and Kodi Traver represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

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YARDLEY, PA. — Regional grocer Wegmans has opened an 88,000-square-foot store in Yardley, about 30 miles northeast of Philadelphia. The site is located within the Prickett Preserve mixed-use development, and the store offers a selection of approximately 1,200 wines and 500 beers and ciders. The store, which will employ about 400 people on full- and part-time bases, is Wegmans’ second in Bucks County.

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ORLAND PARK, ILL. — Marcus & Millichap has brokered the $2.1 million sale of a 14,000-square-foot retail building anchored by AutoZone in the Chicago suburb of Orland Park. AutoZone occupies about 60 percent of the property, which is located at 9310 W. 159th St. adjacent to a Jewel-Osco grocery store. Mitchell Kiven of Marcus & Millichap represented the seller, a private investor, and the buyer, a local investor based in suburban Cook County.

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