Retail

Marcus & Millichap Brokers $19.8M Sale of Douglasville Town Center in Metro Atlanta

by John Nelson March 28, 2023

DOUGLASVILLE, GA. — Marcus & Millichap has brokered the $19.8 million sale of Douglasville Town Center, a 272,785-square-foot shopping center located at 5891-5989 Stewart Parkway in Douglasville, about 24 miles west of Atlanta. Tim Giambrone of Marcus & Millichap’s Atlanta office represented both the seller, a private capital partnership, and the buyer, an out-of-state private investment firm, in the transaction. Both parties requested anonymity. Douglasville Town Center’s tenant roster includes anchor BuggyBusters, a liquidation superstore, as well as Rogers Mechanical Contractors, Andy’s Wholesale and Cobb Douglas Community Services Board.

March 28, 2023

Leasing Activity New Jersey Northeast Retail

Barnes & Noble to Open 15,000 SF Bookstore in Union, New Jersey

by Taylor Williams March 28, 2023

UNION, N.J. — Barnes & Noble will open a 15,000-square-foot bookstore at Union Plaza Shopping Center in Northern New Jersey. Chuck Lanyard and Marc Palestina of The Goldstein Group represented Barnes & Noble in the lease negotiations. Peter Robbins of Robbins Agency represented the landlord. Other tenants at Union Plaza Shopping Center include grocer ShopRite, Best Buy, Designer Shoe Warehouse and Marshalls.

March 28, 2023

Acquisitions Arizona Retail Western

Colliers Negotiates $14.8M Sale of Crossroads Plaza Shopping Center in Peoria, Arizona

by Jeff Shaw March 28, 2023

PEORIA, ARIZ. — Colliers has brokered the $14.8 million sale of Crossroads Plaza, a 112,838-square-foot shopping center located in the Phoenix suburb of Peoria. The property was 91 percent leased at the time of sale to tenants including Harbor Freight, Dollar Tree, Goodwill, LA Crab Shack, Ta’ Carbon Mexican Grill, Odyssey Martial Arts and Iced Out Ice Cream Parlor. Mindy Korth, John Jackson, Caitlin Zirpolo and El Warner of Colliers represented the seller, a California-based firm. Maha Odeh Arnold of Regal Properties represented the buyer, a California-based private investor.

March 28, 2023

Acquisitions Maryland Retail Southeast

AmCap, Encore Acquire Grocery-Anchored Shopping Center in Metro D.C.

by John Nelson March 28, 2023

CALIFORNIA, MD. — A joint venture between AmCap Inc. and Encore Enterprises has acquired First Colony Center, a 98,179-square-foot shopping center in the Washington, D.C., suburb of California. The grocery-anchored center is leased to tenants including Giant, Michaels and Advance Auto Parts. Shadow anchors include Target, Lowe’s Home Improvement and BJ’s Wholesale Club. The seller and sales price of First Colony Center were not disclosed. The center represents the third joint venture acquisition between AmCap and Encore.

March 28, 2023

California Development Restaurant Retail Western

Eureka Opens 4,504 SF Restaurant in Aliso Viejo, California

by Jeff Shaw March 28, 2023

ALISO VIEJO, CALIF. — Eureka! has opened a 4,504-square-foot restaurant at The Commons at Aliso Viejo, a retail center in Aliso Viejo. Justin McMahon of JLL represented both the landlord, Buie Communities, and Eureka! in the lease negotiations.

March 28, 2023

Acquisitions Kansas Midwest Missouri Retail

Hanley Investment Group Arranges Sales of 10 Valvoline-Occupied Properties in Kansas, Missouri, for $17.3M

by Kristin Harlow March 28, 2023

KANSAS AND MISSOURI — Hanley Investment Group Real Estate Advisors has arranged the sales of 10 retail properties occupied by Valvoline for a combined $17.3 million. The net-leased buildings sold to 10 separate buyers. Hanley, in association with Kansas City-based Ferguson Properties, represented the seller, an Arizona-based private investor, in nine of the 10 transactions. Hanley, in association with ParaSell Inc., represented a different seller in the 10th transaction for an asset in Kansas City. That seller was a private investor based in Kansas City.

March 28, 2023

Leasing Activity Michigan Midwest Retail

HomeBuys to Backfill Former Big Lots Property in Southgate, Michigan

by Kristin Harlow March 28, 2023

SOUTHGATE, MICH. — HomeBuys has leased 34,019 square feet and will backfill a former Big Lots property at 14155 Eureka Road in Southgate, a southwest suburb of Detroit. The lease marks the first Michigan location for the discount home goods retailer. Michael Murphy and Bill McLeod of Gerdom Realty & Investment represented the undisclosed landlord. Brad Rosenberg of Mid-America Real Estate Corp. represented the tenant.

March 28, 2023

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $4.5M Sale of CVS-Leased Retail Property in Sarasota, Florida

by John Nelson March 27, 2023

SARASOTA, FLA. — Marcus & Millichap has brokered the $4.5 million sale of a 10,378-square-foot retail property located at 8546 S. Tamiami Trail in Sarasota. CVS/pharmacy occupies the building on a net-lease basis. The property was built in 1999 on a 1.6-acre site. Joseph Prio, Alan Lipsky and Barry Wolfe of Marcus & Millichap arranged the sale on behalf of the seller, FFT Livingstone Investors Inc. An undisclosed private investor was the buyer.

March 27, 2023

Development Leasing Activity Restaurant Retail Texas

Chick-fil-A to Open 4,995 SF Restaurant at Northwoods Shopping Center in North San Antonio

by Taylor Williams March 27, 2023

SAN ANTONIO — Chick-fil-A has signed a lease to open a 4,995-square-foot restaurant at Northwoods Shopping Center in San Antonio. The Atlanta-based fast-food chain will occupy a 1.5-acre pad site at the center, which is located at the intersection of U.S. Highway 281 and Loop 1604 on the city’s north side. Other retailers at Northwoods Shopping Center, which is owned by Los Angeles-based CIM Group, include grocer H-E-B, Barnes & Noble, Marshall’s, Ulta Beauty and Old Navy. An opening date was not disclosed.

March 27, 2023

Acquisitions Massachusetts Northeast Retail Rhode Island

Atlantic Capital Partners Negotiates $70M Sale of Retail Portfolio in Massachusetts, Rhode Island

by Taylor Williams March 27, 2023

BOSTON — Atlantic Capital Partners, a division of Boston-based Atlantic Realty, has negotiated the $70 million sale of a portfolio of four grocery-anchored retail assets in Massachusetts and Rhode Island. The properties, all of which are master-leased to regional operator Stop & Shop, total 272,542 square feet and are located in the Massachusetts communities of Framingham, Malden and Swampscott, with the fourth in Bristol, R.I. Justin Smith, Chris Peterson and Sam Koonce of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

March 27, 2023

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