PARIS, TEXAS — JLL has negotiated the sale of a 291,958-square-foot shopping center in Paris, about 100 miles northeast of Dallas. Paris Towne Center was built in 1976 and is home to tenants such as Aldi, Hobby Lobby, Ross Dress for Less, T.J. Maxx, Five Below, Ulta Beauty and Bath & Body Works. Adam Howells and Erin Myer of JLL represented the seller, College Station-based Culpepper Realty Co., in the transaction. Dallas-based Corsair Property Co. purchased the center for an undisclosed price.
MIAMI — NAI Miami | Fort Lauderdale has arranged a 9,916-square-foot retail lease at 1588 N.W. 7th St., a retail space within a parking garage at LoanDepot Park, home ballpark of the Miami Marlins. The tenant is Biscayne Bay Brewing Co. LLC, one of the leading craft breweries in South Florida and the official craft beer of the Marlins and LoanDepot Park. Claire Holash and Jeremy Larkin of NAI Miami | Fort Lauderdale represented the sublandlord, the Department of Off-Street Parking of the City of Miami, also known as the Miami Parking Authority, in the transaction. The new Biscayne Bay Brewing location is replacing an existing brewery and is expected to open this fall.
HYANNIS, MASS. — Simon Property Group has welcomed two new tenants to Cape Cod Mall in Hyannis. Aloha Mini Golf, which provides a glow-in-the-dark mini golf experience, and Exotic Snack Guys, which offers a curated mix of international snacks, trending treats, and viral favorites from around the world, are now both open. The stores are located across from Dick’s Sporting Goods and American Eagle, respectively.
ENCINITAS, CALIF. — RPG has acquired a 4,939-square-foot multi-tenant retail property located in Encinitas, roughly 25 miles north of downtown San Diego. The building was fully leased at the time of sale to five tenants, including three retailers and two restaurants. The seller and terms of the transaction were not released.
RALEIGH, N.C. — JLL has brokered the $36 million sale of Townridge Shopping Center, a 273,105-square-foot shopping center in Raleigh. Tom Kolarczyk, Michael Nieder and Brian Page of JLL represented the seller, Zeisler-Morgan Properties, in the transaction. Travis Anderson and Ward Smith, also with JLL, secured $26.5 million in acquisition financing for the buyer, Armstrong Capital Development (ACD). Walmart and Planet Fitness anchor the center, which was 96 percent leased at the time of sale. Other tenants include Chipotle Mexican Grill, Advance Auto Parts, Cato, AT&T, Burger King, Edible Arrangements and Papa Johns Pizza, according to LoopNet Inc. The property features five buildings at Townridge Shopping Center and a single building at the adjacent Village at Townridge that function together as a unified commercial site.
MANASSAS, VA. — Bethesda, Md.-based Finmarc Management Inc. has sold Festival at Manassas, a 117,675-square-foot shopping center in Northern Virginia, for $24.5 million. JCR Cos. purchased the grocery-anchored property, which is located at 10288-10388 Festival Lane in Manassas. Ryan Sciullo, Chris Munley, Colin Behr and Casey Smith of CBRE represented Finmarc in the transaction. Situated near the intersection of Sudley and Portsmouth roads, Festival at Manassas was 88 percent leased at the time of sale to tenants including Global Foods, Golden Royal Buffet, SudsMore, My Salon Suites and Potbelly Sandwich Works.
CHULA VISTA, CALIF. — JLL Capital Markets has arranged the $30.4 million sale of Terra Nova Plaza, a fully leased retail center in the San Diego Bay city of Chula Vista. A global investment manager sold the property to an undisclosed buyer. Located at 390 H St., Terra Nova Plaza features 96,114 square feet of retail space that is home to a 44,477-square-foot Dick’s Sporting Goods store and a 51,637-square-foot Floor & Decor store, both of which are subject to long-term leases. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL Capital Markets represented the seller in the transaction.
ANAHEIM, CALIF. — Newmark Pacific has arranged the $16.5 million sale of Link OC, a shopping center in Anaheim. An undisclosed seller sold the property to Northpond Acquisition. Located at 1071, 1081 and 1095 N. Tustin Ave., Link OC features 26,385 square feet of necessity-based retail space and was fully leased at the time of sale. Current tenants include Reborn Coffee, Wendy’s, Byblos Mediterranean Grill, Pampanga Food Co., Spin Poke & Grill and MD Clinics Urgent Care. The property was renovated in 2017. Pete Bethea, Glenn Rudy and Rob Ippolito of Newmark Pacific represented the seller in the deal.
PERTH AMBOY, N.J. — CBRE has arranged $18.4 million in financing for ≈, a 91,280-square-foot shopping center located in the Northern New Jersey community of Perth Amboy. A 60,665-square-foot ShopRite grocery store anchors the center, which was fully leased at the time of the loan closing to 15 tenants with a weighted average remaining lease term of 6.1 years. Richard Henry, Mike Ryan, Blake Cohen and J.P. Cordeiro of CBRE arranged the loan on behalf of the owner, Sterling Organization. The direct lender was not disclosed.
LAS VEGAS — Agora Realty has completed construction of Hylo Park South, a 90,750-square-foot grocery-anchored retail center located in North Las Vegas. The property will serve as the central gathering place for Hylo Park, a 73-acre master-planned community that is currently under development. Cardenas Markets anchors the 11-acre center, which was delivered 95 percent leased. Tenants include Ross Dress for Less, Starbucks Coffee, Chipotle Mexican Grill, In-N-Out Burger, PDS Health, AT&T, The UPS Store, Chase Bank, Allstate, Sourdough & Co. and Tesla.
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