Property Type

JLL Arranges $190M Refinancing for Legacy Place Shopping Center in Dedham, Massachusetts

by Taylor Williams June 5, 2023

DEDHAM, MASS. — JLL has arranged a $190 million loan for the refinancing of Legacy Place, a 675,000-square-foot shopping center in Dedham, a southwestern suburb of Boston. Whole Foods Market, The Apple Store, L.L. Bean and Showcase Cinemas anchor the center, which was built in phases between 2008 and 2009 and renovated between 2020 and 2022. Other tenants include Nike, Athleta, Industrious, Shake Shack, Lululemon, Sephora, Sweetgreen and Yard House. The property sits on a 37-acre site at the corner of I-95 and U.S. Route 1 within a trade area that totals more than 1.3 million people. A syndicate of lenders consisting of Wells Fargo and Truist provided the financing to the borrower, a partnership between Boston-based WS Development and Nuveen Real Estate. Brett Paulsrud, Henry Schaffer, Hugh Doherty, Chris Angelone and Zach Nitsche of JLL arranged the debt. Specific loan terms were not disclosed. According to the capital markets team that worked on the deal, Whole Foods is the most highly trafficked store in Massachusetts for the Austin-based grocer, and Legacy Place as a whole is the most visited lifestyle center in New England. “This transaction further proves that in spite of macroeconomic headwinds, large-format retail properties in premier …

June 5, 2023

Georgia Market Reports Retail Southeast Southeast Market Reports

Atlanta’s Retail Market Remains Robust for Investors, Tenants and Landlords

by John Nelson June 5, 2023

Atlanta has historically been a favorite metro for real estate investors to consider when it comes to a market that checks all the boxes. The Peach State Capital and its surrounding suburbs always have been a beneficial and desirable region for residents to live and work. Topping the list as the most popular city for apartment renters in 2022, Atlanta offers more benefits to its residents than just an affordable city to live. Other benefits of living in and around the city include professional sports teams, a rich arts and entertainment scene and renowned restaurant and retail lineups, among others. Hartsfield-Jackson Atlanta International Airport also offers domestic and international flights to practically anywhere in the world, and it’s situated minutes from downtown. Home to 17 Fortune 500 company headquarters, including prominent names such as The Home Depot, United Parcel Service (UPS), Coca-Cola and Delta Airlines, Atlanta’s job growth is outpacing the rest of the country. Coming out of the pandemic, Atlanta recorded a job growth rate of nearly 23 percent since April 2020, which outperforms the comparative U.S. metric of 11.7 percent in the same time period. Atlanta has also historically held an unemployment rate below the national average. With …

June 5, 2023

Acquisitions Florida Office Southeast

CBRE Brokers Sale of One Independence Park Office Building in Tampa

by Hayden Spiess June 2, 2023

TAMPA, FLA. — CBRE has brokered the sale of One Independence Park, a 115,740-square-foot office property located at 4110 George Road in Tampa. Situated on 9.2 acres, the building comprises three stories and was fully leased at the time of sale. Tenants at the property include WiPro LLC and HealthPlan Services Inc. Dale Peterson, Joe Chick, Kristen Hagen, Courtney Snell, Nick Sharpe and Jimmy Garvey of CBRE represented the seller, Raleigh-based Highwoods Properties, in the transaction. The buyer and price were not disclosed.

June 2, 2023

Acquisitions Retail Southeast Virginia

Cushman & Wakefield Arranges Sale of 56,900 SF Deer Run Village Shopping Center in Metro Richmond

by Hayden Spiess June 2, 2023

MIDLOTHIAN, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $4.9 million sale of Deer Run Village, a 56,900-square-foot shopping center located in Midlothian, roughly 15 miles west of Richmond. Food Lion anchors the property, which was fully leased at the time of sale. Catharine Spangler and Danielle Beckstoffer of Thalhimer represented the undisclosed seller in the transaction. The buyer was also not disclosed.

June 2, 2023

Development Florida Industrial Leasing Activity Southeast

Circularix Signs 67,250 SF Industrial Lease at Airport Logistics Park in Ocala, Florida

by Hayden Spiess June 2, 2023

OCALA, FLA. — Circularix has signed a 67,250-square-foot lease at Airport Logistics Park, an industrial development currently underway at 2675 Southwest 60th Avenue in Ocala. Phase I of the project, which totals 725,400 square feet across three buildings, is now fully preleased. The tenant is scheduled to occupy the space beginning in the first quarter of 2024. Rian Smith, Kris Courier and Josh Tarkow of CBRE represented the landlord, Leon Ocala Holdings IV, in the lease negotiations. The second phase of the project, which is located adjacent to Ocala International Airport, could add up to 400,000 square feet to the property.

June 2, 2023

Acquisitions California Healthcare Office Western

San Antonio Regional Hospital Buys Office Complex in Rancho Cucamonga, California for $22.2M

by Jeff Shaw June 2, 2023

RANCHO CUCAMONGA, CALIF. — San Antonio Regional Hospital has acquired a 127,000-square-foot office building in Rancho Cucamonga for $22.2 million. The building is located at 11000 Eucalyptus St. San Antonio Regional Hospital is an Upland-based regional healthcare provider that will convert the asset into medical office space. Graham Gilles of the Hoffman Company represented the buyer in the transaction. Gary Goodgame, Jeremy Dee and Max Browne of Kennedy Wilson Brokerage represented the seller, Mercury Casualty Co.

June 2, 2023

Acquisitions California Office Western

Wilshire Capital Partners Divests of 70,964 SF Vacant Office Building in Irvine, California

by Jeff Shaw June 2, 2023

IRVINE, CALIF. — Wilshire Capital Partners has sold a 70,964-square-foot office building in Irvine to an owner-user for an undisclosed sum. The vacant, Class A building is located at 17900 Von Karman in the Irvine Business District (IBD) submarket. The new owner plans to occupy the property after making renovations. Anthony DeLorenzo, Gary Stache, Bryan Johnson, David Dowd and Jennifer Whittington of CBRE represented the seller in the transaction.

June 2, 2023

California Loans Retail Western

CBRE Arranges $15M Refinancing for Lincoln Square Shopping Center in Oakland, California

by Jeff Shaw June 2, 2023

OAKLAND, CALIF. — CBRE has arranged a $15 million loan for the refinancing of Lincoln Square Shopping Center in Oakland. Safeway anchors the property, which comprises three buildings with 14 tenant suites. Other tenants at the center include CVS/pharmacy, Peet’s Coffee, Jamba Juice and the UPS Store. Originally built in 1963, the property underwent extensive redevelopment in 2019. Shaun Moothart, Bruce Francis, Doug Birrell and Bob Ybarra of CBRE arranged the non-recourse, 10-year, interest-only loan on behalf of the borrower, a California-based private retail real estate operating company.

June 2, 2023

Acquisitions California Industrial Life Sciences Western

NEXGEN Purchases Life Sciences Facility in Newbury Park, California for $6.2M

by Jeff Shaw June 2, 2023

NEWBURY PARK, CALIF. — NEXGEN has acquired a 23,919-square-foot industrial life sciences/laboratory facility in Newbury Park for $6.2 million. The facility is located at 3615 Old Conejo Road within the USA Business Park in the Conejo Valley industrial market. Century 21 represented NEXGEN in the transaction. Matt Ehrlich and Marcos Villagomez of NAI Capital Commercial represented the seller, Dao Bui Holdings. Ehrlich and Villagomez spent more than a year on the project, facilitating the lease termination and departure of the former tenant and assisting as de facto property managers.

June 2, 2023

Acquisitions California NAI Restaurant Retail Western

NAI Brokers $2M Sale of Restaurant Building in Simi Valley, California

by Jeff Shaw June 2, 2023

SIMI VALLEY, CALIF. — NAI Capital Commercial has brokered the $2 million sale of a 5,708-square-foot restaurant building in Simi Valley. Situated within Woodlands Plaza, Cocos formerly occupied the now-vacant property. The new owner plans to open and operate a breakfast restaurant in the space. Michael Schiff of NAI represented both the buyer, SSA California Properties LLC, and the seller, Barsky Family Limited Partnership, in the transaction.

June 2, 2023

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