HOUSTON — Marcus & Millichap has brokered the sale of Shoppes at Kingsgate, a 156,343-square-foot shopping center located within the 14,000-acre Kingwood master-planned development in northeast Houston. Built in 1980 and renovated in 2013, the center was 95 percent occupied at the time of sale. Aldi anchors the property, and other tenants include Cell Doc, Binh’s Tailor, Trademark Kitchen & Bath, The Mint National Bank, Schlotzky’s and On the Park Toy Store. Philip Levy and Chris Gainey of Marcus & Millichap represented the seller in the transaction. John Indelli and Ryan West of JLL represented the buyer, DML Capital.
SUCCASUNNA, N.J. — JLL has arranged a loan of an undisclosed amount for the refinancing of Roxbury Mall, a 700,000-square-foot regional power center located in the Northern New Jersey community of Succasunna. Grocer ShopRite anchors the center, and other tenants include Home Depot, Kohl’s, Ramsey Outdoors, Petco, Panera and Planet Fitness. Roxbury Mall also includes a 60,000-square-foot medical office building with a surgery center and a 30,000-square-foot office building. Jon Mikula, Jim Cadranell and Ryan Carroll of JLL arranged the 10-year, fixed-rate loan through an undisclosed life insurance company on behalf of the borrower, Roxville Associates.
MANHATTAN, KAN. — RockStep Capital has acquired Manhattan Town Center, a 367,000-square-foot shopping mall in Manhattan within eastern Kansas. The purchase price was undisclosed. Anchor tenants include Dillard’s, JC Penney and the AMC Dine-In IMAX Theater. There are more than 50 small shops and full-service restaurants at the regional mall, which was built in 1987. RockStep plans to make improvements to the property.
MOUNT PLEASANT, S.C. — Ziff Real Estate Partners (ZRP) has acquired Wando Crossing, a retail center located in the Charleston suburb of Mount Pleasant, for $46.8 million. Marshalls/HomeGoods, T.J. Maxx, Total Wine & More, Petco, Ashley HomeStore, Michaels and Five Below anchor the property, which totals 214,029 square feet. Ohio-based SITE Centers Corp. was the seller. Brad Peterson, Scott Israel, Whitaker Leonhardt, Joe Montgomery and Patrick Nealon of Colliers represented the seller in the transaction. Donald Jennewein of Colliers arranged an undisclosed amount of acquisition financing for ZRP.
MCDONOUGH, GA. — Franklin Street has arranged the sale of Kelleytown Village, a 66,387-square-foot shopping center located at 3500 Highway 155 N in McDonough, roughly 30 miles southeast of Atlanta. Publix anchors the property, which was constructed in 2022. Other tenants at the center include Your Pie, Allure Nails, UPS and 100% Chiropractic. Bryan Belk and John Tennant of Franklin Street represented the seller, Georgia- and Alabama-based Venture South Investments, in the transaction. The buyer and sales price were not disclosed.
SAN RAFAEL, CALIF. — JLL Capital Markets has brokered the $3.3 million sale of a single-tenant retail building located at 910 Anderson Drive in the Bay Area city of San Rafael. El Pollo Loco, a fast-casual restaurant chain, occupies the 2,626-square-foot building on a triple-net lease that is corporate guaranteed and has 13 years remaining on its term with options for extension. Eric Kathrein and Warren McClean of JLL Retail Capital Markets handled the transaction. The names of the seller and buyer were not released.
FORT WORTH, TEXAS — Dallas-based Younger Partners will renovate Crockett Row, a shopping, dining and entertainment district that spans five city blocks in Fort Worth’s Cultural District. Upgrades will include the addition of new gathering spaces, enhanced wayfinding and improved signage and lighting, as well as the installation of new elevators in parking garages. Younger Partners will also rebrand the property as Artisan Circle. Construction is scheduled to begin in January and to last 12 to 18 months. Crockett Row currently features a roster of 25 tenants and will welcome several new users— restaurants Terra Mediterranean, La Cabrona and Si Tapas and Rose Couture Nail Bar — next spring.
BABCOCK RANCH, FLA. — Katz & Associates has signed several retail tenants to leases totaling more than 120,000 square feet at Babcock Ranch, a solar-powered mixed-use community currently underway in South Florida. The project is entitled for 6 million square feet of commercial space, in addition to residences. Jon Cashion and Eric Spritz of Katz & Associates represented the landlord and developer, Kitson & Partners, in the lease negotiations. Upon completion, the development will feature 4 million square feet of retail space, including shopping centers The Shoppes at Yellow Pine and Crescent B Commons. Marshalls, Ace Hardware, Five Below, Oar & Iron, Tipsy Salonbar, Fountain Pools, Seymour Orthodontics, Yummy Thai & Chinese, Verizon Wireless, Papa John’s Pizza, Carvel and Laser Lounge will occupy space at The Shoppes at Yellow Pine. Starbucks Coffee, Fifth Third Bank and Fiore + Ela Salon recently signed leases at Crescent B Commons. A total of 24 retail tenants have now signed leases at Babcock Ranch. The Shoppes at Yellow Pine, which will comprise 120,000 square feet, is scheduled for completion in the first quarter of 2025, with retailer openings scheduled to begin early that year.
SPRING HILL, FLA. — The Sembler Co. has completed the $13.3 million redevelopment of Hernando West Plaza, a Publix-anchored shopping center in Spring Hill, approximately 35 miles northwest of Tampa. Publix closed its store at the center last December to make way for its new 45,000-square-foot store, which opened earlier this month. Originally built in 1980 along U.S. Highway 19, Hernando West Plaza features 54,800 square feet of inline retail space in addition to the Publix store, as well as 3,200 square feet of small shop space and an outparcel. The center is 94 percent leased to tenants including Beall’s Outlet, AAA Auto Club, Little Caesar’s, Miracle Ear and other soft goods, dining and service retailers. Forge Real Estate Partners IV, a joint venture between Sembler and Forge Capital Partners, has owned the center since 2020.
YONKERS, N.Y. — MediaPro North America, a provider of Spanish programming, in partnership with Great Point Media, has broken ground on a new film and entertainment production studio at 1500 N. Broadway in Yonkers, a northern suburb of New York City. The campus will feature three sound stages totaling 20,000 square feet, as well as post-production facilities and other amenities to support a range of media production and entertainment endeavors. First Citizens Bank provided construction financing for the project. Completion is slated for next fall.