Retail

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FREMONT, CALIF. — Sares Regis Group of Northern California (SRGNC) and TMG Partners have sold Capitol Square, a shopping property in downtown Fremont, for an undisclosed price. The name of the buyer was not released. The 21,000-square-foot Capitol Square is the fully leased retail component of Locale, a $100 million mixed-use project that was completed in spring 2021. Developed by TMG Partners, Sares Regis and Summerhill Homes, Locale includes 157 residences and retail space. KTGY served as architect for the development. Don LeBuhn, Rick Ryan and Dan Ward of Cushman & Wakefield brokered the transaction.

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BURBANK, ILL. — Quantum Real Estate Advisors Inc. has brokered the $5.7 million sale of a 17,683-square-foot retail center in Burbank, a southern suburb of Chicago. The fully leased property is home to tenants such as Meat Moot, Pizza Hut, Tropical Smoothie Café, OSF Healthcare and Dental Town. Dan Waszak, Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, GW Properties. The buyer was a private investor based in Kansas.

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MADISON, ALA. — Atlanta-based Halpern Enterprises Inc. has acquired Heritage Square, a 67,767-square-foot shopping center located at 7696 Highway 72 NW in Madison, a suburb of Huntsville. Franklin Street represented the seller, Fairway Investments, in the transaction. The sales price was not disclosed. Built in 2008, Heritage Square was fully leased at the time of sale to tenants including a 28,000-square-foot T.J. Maxx anchor store.

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HOUSTON — Marcus & Millichap has arranged the sale and financing of Providence Plaza, a 90,327-square-foot shopping center in Houston. Built on 7.7 acres in 1984 on the city’s southwest side and renovated in 2018, the property was 97 percent occupied at the time of sale. Tenants at the center include Dollar Tree and Spec’s Wines, Spirits & Foods. Alex Wolansky and Gus Lagos of Marcus & Millichap represented the seller, Whitestone REIT, in the transaction. Additionally, Jamie Safier of Marcus & Millichap Capital Corp. (MMCC) originated an undisclosed amount of acquisition financing on behalf of the unnamed buyer.

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TAMPA, FLA. — CBRE has brokered the sale of Britton Plaza, a 460,136-square-foot shopping center located at 3900 S. Dale Mabry Highway in south Tampa. Pennsylvania-based Brixmor Property Group purchased the Publix-anchored property for an undisclosed price. Dennis Carson, Casey Rosen, Michael Etemad and Sriram Rajan of CBRE represented the seller, a private investor that owned the property for more than 50 years. David Conn, Denny St. Romain and Scott Peek of CBRE assisted in the transaction. Britton Plaza is situated on 32 acres near Tampa Bay and downtown Tampa. The property’s tenant roster includes Publix Liquors, Marshalls, Burlington, Michaels, Dollar Tree, Pet Supermarket, Dunkin’ and Taco Bell. The acquisition of Britton Plaza represents a prime value-add and/or redevelopment opportunity for the new owner due to store vacancies in recent years including Stein Mart, Beall’s Outlet and Big Lots, according to local media outlets.

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PHILADELPHIA — Philadelphia-based Comcast Spectacor, in partnership with Cordish Cos., a Baltimore-based developer specializing in sports-anchored entertainment districts, has provided updates on the redevelopment of the Xfinity Live! sports complex in South Philadelphia. New developments include the transformation of the Live! plaza into a central two-story building featuring a rooftop oasis known as AVA Rooftop Bar; the expansion of the PBR Cowboy Bar via an outdoor backyard area with a stage and new bar offerings; and a new and improved turf area that will provide flexible space for various activities and community activations. Construction is expected to be fully complete by early 2026, and the facility will remain open while work is ongoing.

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CLIFTON, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $13 million loan for the refinancing of Clifton Plaza, a 95,222-square-foot shopping center in Northern New Jersey. The center was fully leased at the time of the loan closing. Big Lots is the anchor, and other tenants include Dollar Tree, New Jersey Eyes and Blink Fitness. David Fryer of G.S. Wilcox arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.

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PHILADELPHIA — Metro Boston-based Apple Cinemas will open a 17-screen theater near downtown Philadelphia. The company will backfill a former theater space of Regal Cinemas at Riverview Plaza III, which is owned by Philadelphia-based Tower Investments. Soloff Realty & Development Inc. represented the landlord in the lease negotiations. The opening is scheduled for fall 2025.

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GRAND RAPIDS, MICH. — PREIT has received an $80 million loan for the refinancing of Woodland Mall in Grand Rapids. JLL arranged the loan through a national CMBS lender. The five-year loan features a fixed interest rate of 7.35 percent. PREIT says the refinancing will save the company approximately $5 million in interest expense over the life of the loan. The redevelopment of Woodland Mall included new tenants such as Von Maur, The Cheesecake Factory, Sephora and Urban Outfitters.

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COLUMBUS, OHIO — Ten tenants have opened new locations at Easton Town Center in Columbus. CHANEL Fragrance and Beauty Boutique, David Yurman, Louis Vuitton, Hollister, Mugsy, Bluemercury, Tecovas, Rowan, BoxLunch and Mikey’s Late Night Slice are now open. Coming soon to the shopping destination are gorjana, Faherty, Bar Italia, Diamond Cellar and Altar’d State. Easton Town Center is home to more than 250 shops, restaurants and entertainment venues. Steiner + Associates handles leasing and management for the property.

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