NEW YORK CITY — Ann Sacks, a provider of tile, mosaic and stone products, will open a 20,000-square-foot studio and showroom in Queens. The retailer plans to debut its new space at The Cardinal Building, which is located in the Long Island City area, in about six months. James Ferrigno of JLL represented the landlord, a partnership between Kaufman Organization and True North, in the lease negotiations. Tyler Clutts of Cresa represented Ann Sacks.
WESTLAKE, FLA. — Konover South has broken ground on Shoppes of Westlake Landings in Westlake. Upon completion, the 23,000-square-foot development will comprise two multi-tenant retail centers and a pod of quick-service restaurants. Konover South acquired the property from homebuilder Minto Communities in 2021. MEC Construction is serving as general contractor. Tenants that have signed leases at the center include Starbucks Coffee, KFC, Taco Bell, Habit Burger, 3Natives, Heartland Dental, Verizon Wireless, Go Green Cleaners and Orange Theater.
MARLTON, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The View at Marlton, a 91,000-square-foot shopping center in Southern New Jersey. The sales price was $36.5 million. LA Fitness anchors the center, which was originally built in 2017 and was 98 percent leased at the time of sale. Other tenants include Truist Financial Corp., Restore Cryotherapy and Smoothie King. Brad Nathanson of IPA represented the seller, a partnership between Philadelphia-based firms Abrams Realty & Development and Lazgor Co., in the transaction. Nathanson also procured the buyer, Paramount Realty Services, which acquired the asset via a 1031 exchange.
NORCO, CALIF. — Progressive Real Estate Partners has arranged the sale of a gas station, car wash and multi-tenant retail space at 996 Mountain Ave. in Norco. A Los Angeles private investor sold the asset to a Los Angeles-based private investor that operates gas station properties for $11.9 million in an all-cash transaction. Built in 2000 and fully remodeled in 2020, the property features 18 Chevron fueling positions, a self-service express car wash with a 150-foot tunnel, a 22,000-square-foot ExtraMile convenience store and two retail spaces that Valvoline and a window tinting company occupy. Victor Buendia of Progressive Real Estate represented the seller, while Grace Sue of Meiguo Realty represented the buyer in the deal.
SAVANNAH, GA. — JLL has brokered the sales of two shopping centers located in Savannah in transactions totaling $63 million. Built in 1986, Savannah Centre comprises 186,514 square feet and was 81 percent leased at the time of sale to tenants such as T.J. Maxx, Bed Bath & Beyond, Shoe Carnival, JOANN Fabric and Crafts, Five Below, Rack Room Shoes and Chicken Salad Chick. Originally built in 1972, the 197,605-square-foot Chatham Plaza was renovated in 2001. Tenants at the center, which was 93 percent leased at the time of sale, include Ross Dress for Less, Ashley HomeStore, Pet Supermarket, Dollar Tree, Skechers, Chili’s, Longhorn Steakhouse and Starbucks Coffee. Brad Buchanan, Andrew Kahn and Andrew Michols of JLL brokered the sales on behalf of the undisclosed sellers. JBL Asset Management acquired both properties.
FRISCO, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of The Shops at Eldorado, a 13,522-square-foot retail strip center in Frisco. Built in 2016, the center was fully leased at the time of sale to tenants such as Sugar Boy Donuts, Smoke Central and Discovery Kids Dentistry. Hudson Lambert and Jason Vitorino of STRIVE represented the seller, a Dallas-based developer, in the transaction. Additional terms of sale were not disclosed.
GAINESVILLE, GA. — Branch Properties has acquired 14 acres at the intersection of Limestone Parkway and New Holland Way in Gainesville, roughly 55 miles northeast of Atlanta, for the construction of Limestone Marketplace. Upon completion, the shopping center will comprise 76,764 square feet and feature a 54,964-square-foot Publix anchor store. The property will also include three outparcels ranging in size from one to three acres. Branch will break ground on the development in the spring, with completion scheduled for the second quarter of 2024. A sales price for the land was not disclosed.
GREENEVILLE, TENN. — Marcus & Millichap has arranged the sale of a 40,448-square-foot, multi-tenant retail property located in the Eastern Tennessee city of Greeneville. Dominic Sulo and Brett Winger of Marcus & Millichap represented the seller, a New Jersey-based limited liability company, in the $2.4 million transaction. Sulo and Samuel Malato, also with Marcus & Millichap, secured and represented the buyer, a Tennessee-based limited liability company. Both parties requested anonymity. Jody McKibben assisted in closing the transaction as Marcus & Millichap’s broker of record in Tennessee.
SAN ANTONIO — Austin-based brokerage firm Hunington Properties has arranged the sale of a 12,100-square-foot retail building in San Antonio. The building was constructed in 2021 and was fully leased to Action Behavior Center at the time of sale. Gigi Gomel of Hunington Properties represented the seller, a Houston-based limited liability company, in the transaction. Luis Garza of Transwestern represented the Alaska-based buyer. The sales price was not disclosed, but the deal traded at a cap rate of 5 percent.
COLUMBUS, OHIO — JRW Realty has negotiated the sale of Walnut Creek Plaza in Columbus for an undisclosed price. An 86,608-square-foot Giant Eagle grocery store anchors the 115,777-square-foot shopping center. There are also 13 additional retail and healthcare tenants. Nathan Webb of JRW Realty sourced the buyer, one of JRW’s exclusive institutional buyers. CBRE represented the undisclosed seller.