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Bristol-Marketplace-Santa-Ana-CA
AcquisitionsCaliforniaRetailWestern

Tabani Group Buys 107,687 SF Bristol Marketplace in Santa Ana, California

by Amy Works

SANTA ANA, CALIF. — Tabani Group has acquired Bristol Marketplace, a retail property located at 1351 W. 17th St. in the Orange County city of Santa Ana. An undisclosed seller sold the asset for $16.7 million. The 107,687-square-foot plaza comprises a two-story, 99,751-square-foot former Kohl’s and adjacent shop space. The buyer plans to reposition the vacant box space. Gleb Lvovich, Daniel Tyner, Geoff Tranchina and Conor Quinn of JLL Capital Markets Investment Sales Advisory represented the seller in the deal.

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DevelopmentHospitalityLouisianaMixed-UseRestaurantRetailSoutheast

Cordish Breaks Ground on $270M Live! Casino & Hotel Louisiana in Bossier City

by John Nelson

BOSSIER CITY, LA. — An affiliate of Cordish Cos. doing business as LRGC Gaming Investors LLC has broken ground on Live! Casino & Hotel Louisiana, a $270 million development in Bossier City. The development represents the first land-based casino in the Bossier City-Shreveport metropolitan area, according to Cordish. The project is expected to create 750 new construction jobs and 750 permanent jobs upon completion. The site was formerly home to the vacant Diamond Jacks Casino & Hotel, which Cordish acquired earlier this year. Scheduled to open in 2025, the Live! Casino & Hotel Louisiana will feature more than 47,000 square feet of gaming space; a sportsbook for live betting on sporting events; an upscale 550-room hotel with a resort-style pool and fitness center; 25,000-square-foot events center; structured and surface parking; and 30,000 square feet of dining and entertainment venues, including Cordish brands Sports & Social, PBR Cowboy Bar and Luk Fu.

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AcquisitionsFloridaRetailSoutheast

Brookwood Financial Acquires 211,006 SF Publix-Anchored Retail Center in Melbourne, Florida

by John Nelson

MELBOURNE, FLA. — Brookwood Financial Partners has acquired Melbourne Shopping Center, a 211,006-square-foot retail center located at 1301-1441 S. Babcock St. in Melbourne. Built in 1959 and renovated in 2022, the property was 92.4 percent leased at the time of sale to tenants including Publix, Big Lots, Beall’s Outlet, Conn’s, Club 4 Fitness, Dollar Tree, Pet Supermarket, CATO, Pizza Hut and Firestone Complete Auto Care. Danny Finkle, Jorge Portela and Eric Williams of JLL represented the seller in the transaction. Andrew Gray and Ryan Parker of JLL secured acquisition financing on behalf of the buyer. The seller, sales price and loan amount were not disclosed.

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AcquisitionsConnecticutNortheastRetail

CBRE Brokers $33M Sale of Hilltop Commons Shopping Center in Derby, Connecticut

by Taylor Williams

DERBY, CONN. — CBRE has brokered the $33 million sale of Hilltop Commons, a 198,910-square-foot shopping center in Derby, located west of New Haven. Big Y, CVS, Dollar Tree and American Freight anchor the newly redeveloped property. Other tenants include Verizon, AT&T, McDonald’s, Wendy’s and Sherwin-Williams. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, a partnership between DLC and Hutensky Capital Partners, in the transaction. Kempner Properties and Lee & Associates NYC acquired the property in partnership via a 1031 exchange.

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KansasLeasing ActivityMidwestRestaurantRetail

Enjoy Pure Food + Drink to Open at Lenexa City Center in Kansas

by Kristin Harlow

LENEXA, KAN. — Enjoy Pure Food + Drink has signed a lease to open at Restaurant Row in Lenexa City Center. The 4,000-square-foot space will serve as the restaurant’s second location and is slated to open in fall 2024. Enjoy Pure Food + Drink is a health-forward restaurant offering breakfast, lunch and dinner as well as organic cold-pressed juices, smoothies, clean cocktails and a gluten-free and vegan bakery. John Nolan of Crossroads Real Estate Group represented the tenant, while Erin Johnston of Copaken Brooks represented ownership on an internal basis. Future phases of Restaurant Row call for an additional 10,000 square feet of retail and restaurant space and 50,000 square feet of office space.

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Leasing ActivityMassachusettsNortheastRestaurantRetail

Blackbird Doughnuts, Chip City Open Stores at Arsenal Yards in Metro Boston

by Taylor Williams

WATERTOWN, MASS. — A pair of confectionaries, Blackbird Doughnuts and cookie maker Chip City, have opened stores at Arsenal Yards, a mixed-use development located in the western Boston suburb of Watertown. Grand opening celebrations for both stores took place last weekend. A partnership between Wilder Cos. and Boylston Properties owns Arsenal Yards.

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LoansRetailTexas

MMCC Arranges $8.6M Acquisition Loan for Fort Worth Shopping Center

by Taylor Williams

FORT WORTH, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.6 million acquisition loan for Renaissance Square, a shopping center in Fort Worth that totals 105,065 square feet, according to LoopNet Inc. The center was built in 2013 and was fully leased at the time of the loan closing to tenants such as Marshall’s, Ross Dress for Less and Dollar Tree. The borrower and direct lender were not disclosed. The loan carried an interest rate of 6.75 percent and a 30-year amortization schedule. Marcus & Millichap also represented the undisclosed seller in the disposition of the property.

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SunVet-Mall-Holbrook-New-York
DevelopmentNew YorkNortheastRetail

Regency Centers Begins Redevelopment of 280,000 SF Mall on Long Island

by Taylor Williams

HOLBROOK, N.Y. — Regency Centers has begun the redevelopment of the 280,000-square-foot former SunVet Mall in the Long Island community of Holbrook. Regency has rebranded the 50-year-old property as The Shops at SunVet and plans to reposition it as a 168,000-square-foot, open-air shopping center with six outparcels. Whole Foods Market will anchor the center. Demolition of the existing structure is underway, and new construction is scheduled to begin in spring 2024. SBLM Architects is the lead architect on the project.

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AcquisitionsNortheastOfficeRetailRhode Island

NEPCG Negotiates Sale of 33,700 SF Office, Retail Building in Providence

by Taylor Williams

PROVIDENCE, R.I. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the sale of a 33,700-square-foot office and retail building in Providence. Known as The Lauderdale Building, the downtown-area property consists of nine office suites and three retail spaces. Tim McGeary and Rick Welch of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Leasing ActivityNortheastPennsylvaniaRetail

Norman’s Hallmark Opens 7,280 SF Store in Plymouth Meeting, Pennsylvania

by Taylor Williams

PLYMOUTH MEETING, PA. — Norman’s Hallmark has opened a 7,280-square-foot store at The Metroplex in Plymouth Meeting, a northern suburb of Philadelphia. The store offers a complete line of Hallmark products, cards and Keepsake Ornaments, as well as apparel, accessories, books, stationery, games, home décor, candy and gourmet foods. Norman’s Hallmark currently operates 75 stores.

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