ORLANDO, FLA. — Core Investment Management (CORE) has acquired Dellagio Town Center, a 109,489-square-foot retail center in Orlando, for $37.5 million. Located along the Dr. Phillips retail corridor, the multi-tenant center features 30 different brands including AdventHealth Medical Group, Nola’s Ice Cream, Fleming’s Prime Steakhouse & Wine Bar, Fred Astaire Dance Studios and Fifth Third Bank. CORE plans to enhance the property with an improved tenant mix and aesthetic renovations.
KATY, TEXAS — Marcus & Millichap has brokered the sale of a 21,598-square-foot, newly built retail strip center in the western Houston suburb of Katy. Gaston Retail Center sits on a 2.2-acre site and was fully leased at the time of sale to nine tenants, including Dos Tacos, Vogs Coffeehouse and Molar Dental. Justin Miller and Irby Rozelle of Marcus & Millichap represented the seller, a local developer, in the transaction and procured the buyer. Both parties requested anonymity.
NORTH ATTLEBORO, MASS. — Regional brokerage firm Atlantic Capital Partners has arranged the $18 million sale of a 71,927-square-foot shopping center in North Attleboro, located just outside of Providence. Grocer Stop & Shop has anchored the center, which also houses an Asian restaurant, since its completion in 1993 and remodeled its store in 2018. Justin Smith, Chris Peterson, Sam Koonce and Danielle Turpin of Atlantic Capital Partners represented the seller in the transaction. Additional terms of sale were not disclosed.
OAK BROOK, ILL. — Marcus & Millichap has brokered the sale of a retail property net leased to Diamonds Direct in the Chicago suburb of Oak Brook for $6.1 million. Located at 1150 W. 22nd St., the single-tenant building totals 6,000 square feet and is part of the 17-acre Oak Brook Commons mixed-use development. There are just under 14 years remaining on the tenant’s lease. Nicholas Kanich of Marcus & Millichap represented the seller, a global real estate investment manager. A broker with a boutique Chicago firm procured the buyer, a family partnership based in South Dakota completing a 1031 exchange.
BRICK, N.J. — Locally based investment firm TFE Properties has purchased The Shops at Brick, a 103,832-square-foot shopping center located near the Jersey Shore. The center is currently home to Bonefish Grill and McDonald’s, and both anchor and junior anchor spaces are available for lease. Kevin O’Hearn and Joseph Lopresti of JLL represented the undisclosed seller in the transaction and procured TFE Properties as the buyer. The new ownership plans to implement a value-add program.
WEST FARGO, N.D. — Kraus-Anderson has begun a $2.8 million renovation at West Fargo Park District’s Veterans Memorial Arena located at 1201 7th Ave. East in West Fargo. Designed by ICON Architectural Group, the 80,000-square-foot project consists of HVAC upgrades to both ice arenas, including new air conditioning at the Vet’s 1 Arena for non-ice event use during the summer. Additional improvements include renovations to the four locker rooms, modifying bleachers for handicap access and the addition of surveillance and access control systems. Completion is slated for October.
SACRAMENTO, CALIF. — Baltimore-based Wexford Science + Technology, in partnership with The University of California, Davis and the City of Sacramento, has announced the groundbreaking of Aggie Square, a mixed-use development at UC Davis Health Campus in Sacramento. Located at the corner of Stockton Boulevard and 2nd Avenue, Aggie Square’s first phase will offer 808,000 square feet of upscale Class A life sciences research labs, technology and office space, plus housing and retail space. The ribbon-cutting ceremony is scheduled for May 2. Situated on 8.2 acres, Phase I consists of a 313,000-square-foot lab and life sciences building, a 255,000-square-foot Lifelong Learning office and classroom building, a 35,000-square-foot UC Veterinary Genetics Lab, and Anova Aggie Square, a 190-unit residential development with 15,000 square feet of retail space. The first phase also offers community serving uses, a parking structure and indoor/outdoor public spaces. Each building is anchored by UC Davis programs and configured to co-locate private industry investment and innovation infrastructure for startups, as well as community-based partnerships. The project team is also marketing another 313,000-square-foot lab and life sciences building with ground-floor retail located at 100 Aggie Square. The building offers flexible design, and construction will commence once preleasing thresholds are met. …
BRENTWOOD, TENN. — Regency Centers Corp. has acquired Brentwood Place, a 320,000-square-foot power retail center located in the south Nashville suburb of Brentwood. According to the Nashville Business Journal, the center sold for $118.5 million. The property was 95 percent leased at the time of sale and comprises more than 100,000 square feet of anchor retail space leased to Nordstrom Rack, Total Wine & More, T.J. Maxx/HomeGoods and Golf Galaxy. Originally developed in 1973, Brentwood Place is adjacent to the site of the future 350,000-square-foot Vanderbilt Medical Campus.
HUTTO, TEXAS — Jack Allen’s Kitchen, a food-and-beverage concept that specializes in Texas-based cuisine, has opened a 7,000-square-foot restaurant in Hutto, a northern suburb of Austin. The restaurant was built from the ground up within the 35-acre Hutto Co-Op District and will be able to house about 275 patrons between its indoor and patio dining spaces. Designtrait Architects designed the restaurant.
BRAINTREE, MASS. — Atlantic Capital Partners, the debt and capital advisory arm of regional firm Atlantic Retail, has arranged a $22.2 million acquisition loan for Marketplace at Braintree, an 85,134-square-foot retail property located on the southern outskirts of Boston. The property is a three-suite condo that is currently leased to Nordstrom Rack and Ulta Beauty, and an undisclosed grocery operator has committed to leasing the third space. Stephen Joseph and Stephen Hassenflu led the Atlantic Capital team that placed the debt on behalf of the borrower, local investment firm Waterstone Properties Group. The direct lender was not disclosed.
