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1257-Park-St-Alameda-CA
AcquisitionsCaliforniaRestaurantRetailWestern

CalBay Development Sells Jack in the Box-Occupied Restaurant Building in Alameda, California for $4M

by Amy Works

ALAMEDA, CALIF. — CalBay Development has completed the sale of a single-tenant restaurant property in Alameda to a Thousand Oaks, Calif.-based private investor for $4 million. Jack in the Box occupies the 2,583-square-foot building, which includes a drive-thru. Located at 1257 Park St., the property was originally renovated in 1991. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group, along with Cherie Huillade of Colliers, represented the seller in the deal. Jake Kim of Westlake Village, Calif.-based Pinnacle Estate Properties represented the buyer.

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8727-Tampa-Ave-Northridge-CA
AcquisitionsCaliforniaOfficeRetailWestern

Coldwell Banker Brokers Sale of 10,000 SF Office Building in Northridge, California

by Amy Works

NORTHRIDGE, CALIF. — Coldwell Banker Commercial Quality Properties has arranged the $2.6 million sale of a 10,000-square-foot, multi-tenant office and retail property located at 8727 Tampa Ave. in Northridge, about 25 miles northwest of Los Angeles. Arthur Pfefferman of Coldwell Banker Commercial Quality Properties represented the seller, a law firm, in the transaction. The name of the buyer was not released.

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CaliforniaHealthcareLeasing ActivityRetailWestern

Progressive Real Estate Partners Negotiates 3,080 SF Retail Lease for Lifestream Blood Bank in Moreno Valley, California

by Amy Works

MORENO VALLEY, CALIF. — Progressive Real Estate Partners has negotiated a medical/retail lease for Lifestream Blood Bank to occupy space at 24199 Hemlock Ave. in Moreno Valley. Paul Su of Progressive Real Estate Partners represented the tenant in the transaction. Lifestream Blood Bank signed a 10-year lease for 3,080 square feet of end-cap space within District at Moreno Valley shopping center. The blood bank is slated to open by summer 2025.

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AcquisitionsNet LeaseRetailTexas

Hanley Investment Group Arranges Sale of 14,490 SF Retail Building Leased to Walgreens in Spring, Texas

by Taylor Williams

SPRING, TEXAS — California-based brokerage firm Hanley Investment Group (HIG) has arranged the sale of a 14,490-square-foot retail building in the northern Houston suburb of Spring that is net leased to Walgreens. The building was constructed in 2001 and is an outparcel to a Kroger-anchored shopping center. Kevin Fryman, Garrett Wood and Ed Hanley of HIG, in association with ParaSell Inc., represented the seller, a Houston-based private investor, in the transaction. Melissa Gerber Brams of Gerber Realty represented the Louisiana-based buyer. Both parties requested anonymity.

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Hamilton-Marketplace_Hamilton-Township-N.J
AcquisitionsNew JerseyNortheastRetail

IPA Arranges $116.5M Sale of Shopping Center in Hamilton, New Jersey

by Taylor Williams

HAMILTON, N.J. ­— Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $116.5 million sale of Hamilton Marketplace, a 485,094-square-foot shopping center located in Central New Jersey. A 65,155-square-foot ShopRite grocery store anchors the property, which was built in phases beginning in the early 2000s. Other tenants at the center include Kohl’s, Ross Dress for Less, Staples, Barnes & Noble, Michaels, Old Navy, Ulta Beauty, Burlington and PetSmart. Paramount Realty acquired the property from SITE Centers. Brad Nathanson and JP Colussi of IPA brokered the deal.

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DevelopmentNortheastRestaurantRetailRhode Island

Marsella Development to Open $25M Food Hall in Providence

by Taylor Williams

PROVIDENCE, R.I. — Marsella Development Corp. will open Track 15, a $25 million, 18,000-square-foot food hall that will be situated within the historic Union Station building in Providence. Track 15 will be home to food vendors including Little Chaska, Tolia, Dune Brothers, Dolores, There There, Giusto PVD and Mother Pizzeria PVD. In addition to the vendor spaces, the development will feature indoor and outdoor seating for roughly 600 people, an entertainment venue and a 10,000-square-foot plaza. Construction is underway, and the opening is scheduled for February 2025.

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AlabamaLoansRetailSoutheast

KPR Centers Obtains $42.5M Refinancing for Metro Birmingham Shopping Center

by John Nelson

VESTAVIA HILLS, ALA. — KPR Centers has obtained a $42.5 million loan for the refinancing of Vestavia Hills City Center, a 389,736-square-foot retail center located in Vestavia Hills, roughly 10 miles outside Birmingham. An affiliate of MetLife Investment Management provided the floating-rate financing. Chris Drew, Gregg Shapiro and Kelsey Bawcombe of JLL arranged the loan on behalf of KPR Centers. Publix anchors Vestavia Hills City Center, and other tenants include AMC Theatres, Planet Fitness, First Watch, Pet Supermarket, Shoe Station, Dollar Tree, Panera Bread and Dave’s Hot Chicken.

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DevelopmentLeasing ActivityMixed-UseRestaurantRetailSouth CarolinaSoutheast

RocaPoint Signs Four Restaurants to Join $1B Greenville County Square Mixed-Use Development

by John Nelson

GREENVILLE, S.C. — RocaPoint Partners has added four new food-and-beverage tenants to join the roster at Greenville County Square, a $1 billion mixed-use redevelopment in downtown Greenville. Mama’s Comfort Food & Cocktails, Leo’s Italian Social, CRÚ Food & Wine Bar and MOA Korean Barbeque have signed on to join the 40-acre project, which will be anchored by a Whole Foods Market grocery store. The new concepts bring the number of committed eateries at Greenville County Square to 15, including The Perch Kitchen & Tap, The Salty Donut, ​​Ben & Jerry’s and JINYA Ramen. Other tenants will include Pins Mechanical, Fairway Social, Sports & Social and Agave Bandido as the entertainment anchors and national retailers William Sonoma and Pottery Barn. The development also houses Greenville County’s newly opened 250,000-square-foot administrative building.

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Leasing ActivityMassachusettsNortheastRestaurantRetail

New England Development Adds Two New Concepts to Cambridge Food Hall

by Taylor Williams

CAMBRIDGE, MASS. — New England Development has added two new food-and-beverage concepts to CanalSide Food + Drink, a food hall located within its Cambridgeside mixed-use development. Juicygreens and Far Out Ice Cream will join the roster at CanalSide, which opens on Friday, Oct. 25. Other concepts at the food hall include anoush’ella, Caffé Nero, Chilacates, DalMoros Fresh Pasta To Go, Fresh, InChu, Lala’s Neapolitan-ish Pizza, Nu Burger, Sapporo Ramen, Teazzi Tea Shop and C-Side Bar.

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245-E-Main-St-El-Cajon-CA
AcquisitionsCaliforniaMixed-UseMultifamilyOfficeRestaurantRetailWestern

Marcus & Millichap Brokers Sale of 10,734 SF Mixed-Use Property in El Cajon, California

by Amy Works

EL CAJON, CALIF. — Marcus & Millichap has arranged the sale of a mixed-use property located at 245 E. Main St. in downtown El Cajon. Syrian Investments acquired the asset from Ronald L. Bain for $2.6 million. The buyer plans to occupy the building and open its second restaurant on the street occupying the ground floor. Built in 2007, the fully vacant building offers 10,734 square feet of retail, office and apartment space, a rear parking lot, roll-up door, alley access and Main Street frontage. Nick Totah and Joseph Gutierrez of Marcus & Millichap represented the seller, while Na’il Salem of Premiere Homes procured the buyer in the deal.

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