Retail

JLL Brokers $85M Sale of Shoppes at Park Place in Tampa Bay Area

by John Nelson October 25, 2022

PINELLAS PARK, FLA. — JLL has brokered the $85 million sale of Shoppes at Park Place, a 361,250-square-foot shopping center located at 7200 U.S. Highway 19 N in the Tampa Bay suburb of Pinellas Park. Brad Peterson, Tom Hall, Whitaker Leonhardt and Michael Brewster of JLL represented the unnamed seller in the transaction. CBRE represented the buyer, Belleair Development, which funded the acquisition with a $51 million loan. Built in 2006, Shoppes at Park Place was 97.4 percent leased at the time of sale to tenants including Regal Cinemas, Academy Sports + Outdoors, Conn’s HomePlus, Marshalls, Michaels, Petco, Five Below, Famous Footwear and Dollar Tree. The center features 10 outparcels housing tenants such as Chick-fil-A, Starbucks, Chase Bank, Panera Bread, Mattress Firm and Panda Express, among others. Belleair Development plans to add more retail space to the 42-acre site, as well as apartments and a hotel.

October 25, 2022

Leasing Activity Restaurant Retail Texas

Chicken N Pickle to Open Restaurant, Entertainment Venue in Allen, Texas

by Taylor Williams October 25, 2022

ALLEN, TEXAS — Chicken N Pickle, a Kansas City-based concept that combines dining with pickleball and other outdoor games, will open a restaurant and entertainment venue in the northeastern Dallas suburb of Allen. The tenant will launch at The Farm, a 135-acre mixed-use development by JaRyCo, in late 2023. Chicken N Pickle also has locations in the Dallas-Fort Worth metros of Grand Prairie and Grapevine, as well as San Antonio, and has committed to a new space in Webster, a southwestern suburb of Houston.

October 25, 2022

Development Illinois Midwest Mixed-Use Multifamily Restaurant Retail Seniors Housing Top Stories

Centennial Expands Redevelopment Plans for Hawthorn Mall in Vernon Hills, Illinois

by Jeff Shaw October 25, 2022

VERNON HILLS, ILL. – Dallas-based real estate firm Centennial has revealed plans to expand on its Hawthorn 2.0 redevelopment of Hawthorn Mall, a super-regional shopping center in Vernon Hills, a northern suburb of Chicago. Built in 1973, the mall currently houses over 120 retailers. Centennial first announced the redevelopment of Hawthorn Mall in 2019, which included new retail and dining options, luxury multifamily housing and indoor/outdoor gathering spaces. The expanded plans nearly triple the new development at the property and include 162 units of seniors housing, a 25,000-square-foot grocery store and 109,000 square feet of open-air retail. The center started its redevelopment with the 2020 unveiling of Center Park, a 15,190 square-foot outdoor space in the mall’s former Center Court. Center Park features both lawn games and soft furnishings. The expanded plan calls for the relocation of 250 apartments to create a larger outdoor public plaza to increase pedestrian access to the mall and a new main entrance for the shopping center. Hawthorn 2.0 will also create more retail, restaurant and entertainment space surrounding the exterior of the Hawthorn Row integrated streetscape. “The expansion of our Hawthorn 2.0 plans enhances the original vision we had for the center as a …

October 25, 2022

Acquisitions Indiana Midwest Retail

First National Realty Partners Acquires Southern Plaza Shopping Center in Indianapolis

by Kristin Harlow October 24, 2022

INDIANAPOLIS — First National Realty Partners (FNRP) has acquired Southern Plaza in Indianapolis for an undisclosed price. A 59,500-square-foot Kroger store anchors the 268,000-square-foot shopping center. A tenant at the center since 1990, Kroger recently updated its storefront and renovated the interior. Additional tenants at the property include Ross Dress for Less, Harbor Freight, Oak Street Health, Goodwill, Rue 21, Qdoba, Cosmo Prof, BMO Bank and Sally Beauty. John May of Prodigy Real Estate Group represented the undisclosed seller.

October 24, 2022

Acquisitions Kansas Midwest Retail

Quantum Arranges $3.5M Sale of Retail Strip Center in Lawrence, Kansas

by Kristin Harlow October 24, 2022

LAWRENCE, KAN. — Quantum Real Estate Advisors Inc. has arranged the sale of a multi-tenant retail strip center in Lawrence for $3.5 million. Jersey Mike’s, which recently signed a new 10-year lease, anchors the property, which is located at 4801 Bauer Farm Drive. Zack Hilgendorf of Quantum represented the undisclosed buyer. The property sold to a family office based in Wichita.

October 24, 2022

Acquisitions Midwest Retail Wisconsin

Greywolf Partners Negotiates $1M Sale of Convenience Store Portfolio in Wisconsin

by Kristin Harlow October 24, 2022

BARABOO, REEDSBURG AND WYOCENA, WIS. — Greywolf Brokerage, a division of Greywolf Partners Inc., has negotiated the sale of a three-property portfolio of gas stations and convenience stores in Wisconsin for $1 million. The properties are located at 516 Ash St. in Baraboo, 306 E. Main St. in Reedsburg and 123 S. Washington St. in Wyocena. Together, the assets total 6,144 square feet. Steve Turner of Greywolf Brokerage represented the seller. Buyer and seller information was not provided.

October 24, 2022

Acquisitions Florida Restaurant Retail Southeast

Marcus & Millichap Brokers $9.4M Sale of Keystone Shoppes Retail Center in Miami

by John Nelson October 24, 2022

MIAMI — Marcus & Millichap has arranged the sale of Keystone Shoppes, a 9,566-square-foot retail center located at 190 NW 42nd Ave. in Miami. Ruben Gonzalez and John Obando, private investors, acquired the property for $9.4 million. Jonathan De La Rosa of Marcus & Millichap marketed the center on behalf of the seller, Keystone Holdings. Chipotle Mexican Grill anchors the center.

October 24, 2022

Lee & Associates New York Northeast Restaurant Retail

Katz & Associates Negotiates Two Retail, Restaurant Leases in Queens

by Taylor Williams October 24, 2022

NEW YORK CITY — Katz & Associates has negotiated two retail leases in Queens. Japanese grocery store Teso Life signed a 6,000-square-foot lease in the Bayside neighborhood, and Filipino fast casual restaurant Jollibee committed to 3,614 square feet at 91-23 Queens Blvd. Daniel DePasquale of Katz & Associates represented the landlords, Paulipark Associates LLC and Midwood, respectively, in both deals. Both concepts will open in 2023.

October 24, 2022

Acquisitions Nevada Restaurant Retail Western

PEBB Enterprises Sells Galleria Pavilion Shopping Center in Henderson, Nevada for $22.5M

by Amy Works October 24, 2022

HENDERSON, NEV. — South Florida-based PEBB Enterprises has completed the disposition of Galleria Pavilion, a shopping center located at 601-617 Mall Ring Circle in Henderson. Dong Koo Kim and Jong Ok Kim, trustees of the Dong Koo Kim and Jong Ok Kim Family Trust, acquired the asset for $22.5 million. The 64,598-square-foot Galleria Pavilion is on an outparcel of Sunset Mall, a 1.1-million-square-foot retail center. At the time of sale, the multi-tenant Galleria Pavilion was 95 percent occupied. Current tenants include Buffalo Wild Wings, Panera Bread, Nothing Bundt Cakes, Aqua Tots and Plato’s Closet. PEBB originally purchased the property in October 2019, when it was only 37.4 percent occupied. Adam Malan and Deana Marcello of LOGIC Commercial Real Estate represented the seller, while Jennifer Lee of Berkshire Hathaway Home Services Nevada represented the buyers in the deal.

October 24, 2022

Acquisitions California Net Lease Restaurant Retail Western

SRS Real Estate Partners Negotiates $6.2M Sale of Two Retail Properties in Chino, California

by Amy Works October 24, 2022

CHINO, CALIF. — SRS Real Estate Partners has arranged the sales of two single-tenant retail buildings that are outparcels to Country Fair Shopping Center, a 168,000-square-foot shopping center in Chino. Separate California-based private investors acquired the assets from a Southern California-based private investor for a total of $6.2 million. Quick-service-restaurants Wienerschnitzel and Carl’s Jr. occupy the two buildings. Built in 1976 at 11901 Central Ave., the 1,600-square-foot, Wienerschnitzel-occupied building sold for $2.4 million. The tenant has approximately seven years remaining on its corporate lease. Constructed in 2016 at 12005 Central Ave., the 3,796-square-foot, Carl’s Jr.-occupied property sold for $3.7 million. The tenant has about 12 years remaining on its corporate lease. Matthew Mousavi and Patrick Luther of SRS National Net Lease Group represented the seller in the transactions.

October 24, 2022

Newer Posts

Older Posts