Retail

Topgolf to Anchor 223-Acre Mixed-Use Development Near Miami

by John Nelson March 3, 2023

POMPANO BEACH, FLA. — Topgolf is underway on the construction of a three-level venue located at the intersection of Powerline Boulevard and Race Track Road in Pompano Beach, roughly 35 miles north of Miami. Scheduled to open late this year, the new location will anchor Live! Pompano Beach, a 223-acre, mixed-use project currently being developed by The Cordish Cos. and Caesars Entertainment. The new Topgolf will feature 102 climate-controlled hitting bays, a full-service restaurant, rooftop terrace, outdoor patio, music, private event space and family-friendly programs year-round.

March 3, 2023

Acquisitions Florida Retail Southeast

Legacy Arranges $6.5M Sale of Shopping Center in Metro Orlando

by John Nelson March 3, 2023

OVIEDO, FLA. — Legacy Realty Group Advisors has arranged the $6.5 million sale of Lockwood Village, a shopping center located at 1021 Lockwood Blvd. in Oviedo, approximately 20 miles northeast of Orlando. Winn-Dixie anchors the 54,372-square-foot property. Jacob Baruch and Daniel Baruch of Legacy represented the buyer and seller, both of which were not disclosed, in the transaction.

March 3, 2023

Acquisitions California Retail Western

Progressive Real Estate Partners Brokers $3M Sale of Farmer’s Corner Retail Center in San Jacinto, California

by Amy Works March 3, 2023

SAN JACINTO, CALIF. — Progressive Real Estate Partners has arranged the sale of Farmer’s Corner, a farmhouse-style indoor retail center in San Jacinto. An Orange County-based private investor sold the value-add asset to a San Diego-based private investor for $3 million. Located at 2500 S. San Jacinto Ave., the 77,000-square-foot property was 40 percent vacant at the time of sale. Built in 1980, the center is currently home to a variety of service-based tenants, including a breakfast eatery, jeweler, barber, party supply company and professional offices. The vacancy includes a 9,000-square-foot, fully equipped restaurant space, ground-floor retail space and second-story office space. Farmer’s Corner’s indoor concourse features 20-foot clear heights, exposed beams, landscaping and a water feature. The buyer plans to upgrade the property, including replacing the roof and implementing an aggressive marketing effort to lease up the asset. Greg Bedell and Mike Lin of Progressive Real Estate Partners represented the buyer and seller in the deal.

March 3, 2023

Leasing Activity Retail Texas

Activate Games to Open 9,600 SF Entertainment Venue in Katy, Texas

by Taylor Williams March 3, 2023

KATY, TEXAS — Activate Games, a retail concept that features tech-based physical and mental interactive competition, will open a 9,600-square-foot entertainment center in the western Houston suburb of Katy. The location at Katy Fry Center will be the fourth in the country for Activate Games, which also plans to open a center in Dallas later this year. Michael Burgower and Eric Lestin of Cushman & Wakefield represented the tenant in the lease negotiations. Dianne Rummage of SClay Management Inc. represented the landlord.

March 3, 2023

Acquisitions Connecticut Northeast Retail

IPA Brokers Sale of 196,802 SF Shopping Center in Groton, Connecticut

by Taylor Williams March 3, 2023

GROTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Groton Square, a 196,802-square-foot shopping center in southeastern Connecticut. Grocer Stop & Shop, along with Kohl’s, anchors the center, which was built in phases on 18 acres between 1983 and 1989. Other tenants include Panera, Xfinity, PhysicianOne Urgent Care, CosmoProf, Verizon and Moe’s Southwest Grill. Jim Koury of IPA represented the buyer and seller, both of which requested anonymity, in the transaction.

March 3, 2023

Civic Development Indiana Midwest Mixed-Use Multifamily Retail Top Stories

Thompson Thrift Acquires 62 Acres for $550M Expansion of Fishers District Mixed-Use Development Near Indianapolis

by Jeff Shaw March 3, 2023

FISHERS, IND. — Thompson Thrift has acquired 62 acres that will be utilized as part of the $550 million expansion to Fishers District in the northeast Indianapolis suburb of Fishers. The firm concurrently sold a portion of the acquired land to the City of Fishers, where the site will be used for the development of a 7,500-seat arena and event center. The overall expansion of Fishers District includes: Slate, a garden-style multifamily community with direct access to Fishers District; the Union, an expansion to the multifamily and commercial options already opened at Fishers District; and the new arena and event center, which will offer additional restaurant, retail and entertainment spaces. Once completed in 2024, the event center will house the Indy Fuel, a minor-league ice hockey team affiliated with the Chicago Blackhawks and the Rockford IceHogs. The event center will also host concerts, theater productions, conventions and other sporting and community events. SCI Architects designed the property. Thompson Thrift began work on the Fishers District development in 2015. The first phase received an award from the Indianapolis Chamber of Commerce in 2020. “A project of this magnitude requires patience, persistence and vision,” says Ashlee Boyd, a managing partner at Thompson Thrift Commercial. “We have brought development, design and building experts together …

March 3, 2023

Acquisitions Office Oregon Retail Western

Norris & Stevens Brokers $1.5M Purchase of Office/Retail Building in Portland, Oregon

by Amy Works March 2, 2023

PORTLAND, ORE. — Portland-based Norris & Stevens has arranged the acquisition of 7970 Milwaukie Building, an office and retail building located at 7970 SE Milwaukie Ave. in Portland. Christ Church Sellwood acquired the property from CBA Group for $1.5 million. Classical Ballet Academy currently occupies the 5,000-square-foot facility, which includes six parking spaces. Tim Pfeiffer and Camden Muller of Norris & Stevens represented the buyer, while Jim Gillespie and Stacey Rustad-Smith of Keller Williams Realty represented the seller in the deal.

March 2, 2023

Acquisitions North Carolina Retail Southeast

Northmarq Brokers $24.1M Sale of Shopping Center in St. Augustine, Florida

by John Nelson March 2, 2023

ST. AUGUSTINE, FLA. — Northmarq has brokered the $24.1 million sale of Parkway Village, a 52,070-square-foot shopping center located at 170 Village Commons Drive in St. Augustine, a suburb of Jacksonville. The property was fully leased at the time of sale to tenants including Publix GreenWise Market, Starbucks Coffee, Orangetheory Fitness and Supercuts. The seller was an undisclosed developer based in Fort Lauderdale. Jason Maier of Northmarq’s New York office represented the buyer, a private 1031 exchange investor based in New York, in the transaction.

March 2, 2023

Acquisitions North Carolina Retail Southeast

JLL Arranges Sale of Food Lion-Anchored Shopping Center in Raleigh

by John Nelson March 2, 2023

RALEIGH, N.C. — JLL has arranged the sale of Wakefield Crossing, a 75,927-square-foot shopping center in Raleigh anchored by Food Lion. An entity doing business as Wakefield Wellons purchased the property for an undisclosed price. Tom Kolarczyk led the JLL team that represented the undisclosed seller in the transaction. Located at 13200 Falls of Neuse Road, Wakefield Crossing’s tenant roster includes Tuesday Morning, Subway, Dante’s Italiano, Wakefield Tavern and Wake Health Medical Group. Food Lion has been an anchor of the shopping center since 2001 and occupies 50 percent of its gross leasable area.

March 2, 2023

Acquisitions Office Oregon Retail Western

Norris & Stevens Brokers $1.5M Purchase of Office/Retail Building in Portland, Oregon

by Amy Works March 2, 2023

March 2, 2023

Newer Posts

Older Posts