Retail

Mid-America Brokers Sale of 178,784 SF Shopping Center in Brookfield, Wisconsin

by Kristin Harlow November 10, 2022

BROOKFIELD, WIS. — Mid-America Real Estate Corp. has brokered the sale of Shoppers World of Brookfield, a 178,784-square-foot shopping center in the Milwaukee suburb of Brookfield. The sales price was undisclosed. Tenants at the fully leased property include Ross Dress for Less, Burlington, Xperience Fitness and Best Buy Outlet. Metro Market, operated by Kroger Co., shadow anchors the property. Ben Wineman, Emily Gadomski and Dan Rosenfeld of Mid-America represented the seller, an affiliate of New Orleans-based private investment firm, PMAT. Brandon Goodman, Spencer Strong, Sage Shepard and Nate Monson of Colliers represented the buyer, a private investor completing a 1031 exchange. PMAT purchased the center in 2019 when it was 78 percent occupied.

November 10, 2022

Leasing Activity Michigan Midwest Retail

Advance Auto Parts Signs Leases for Two New Locations in Michigan

by Kristin Harlow November 10, 2022

TAYLOR AND STERLING HEIGHTS, MICH. — Advance Auto Parts has signed leases to open two new locations in Michigan. The auto parts retailer inked a lease for 20,250 square feet in the Taylor Commons shopping center in Taylor as well as 20,226 square feet at the Clinton Valley shopping center in Sterling Heights. Larry Siedell and Tjader Gerdom of Gerdom Realty & Investment represented the tenant. Eric Unatin of Mid-America Real Estate Group represented the landlord in the Sterling Heights lease.

November 10, 2022

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Partners Arranges Sale of 150,984 SF Shopping Center in Hadley, Massachusetts

by Taylor Williams November 10, 2022

HADLEY, MASS. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of Campus Plaza, a 150,984-square-foot shopping center in Hadley, located north of Springfield in the western part of the state. Anchored by a 71,494-square-foot Stop & Shop grocery store, Campus Plaza was 91 percent leased to 10 tenants at the time of sale. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

November 10, 2022

Development Florida Hospitality Mixed-Use Multifamily Restaurant Retail Southeast Top Stories

LD&D Plans $200M Mixed-Use Development in Downtown Tampa

by Jeff Shaw November 10, 2022

TAMPA, FLA. — Miami-based investment, development and design firm LD&D has announced plans for the development of a $200 million mixed-use project in downtown Tampa. The project site, located at 1101 E. Harrison St., comprises two acres within the 40-acre master-planned development district known as ENCORE. LD&D acquired the property from the Tampa Housing Authority (THA). Plans for the project include the construction of a 28-story multifamily building, a 178-room hotel, 32,500 square feet of ground-floor retail space and a 586-space parking podium. Baker Barrios Architects is the designer for the project. Construction is scheduled to commence in the second half of 2023. The residential tower, which the developers say will be the tallest building in the area, will feature 365 units and more than 45,000 square feet of amenity space. Amenities will include a 4,500-square-foot wellness area, 10,000-square-foot coworking space and a 26th-floor sky lounge with views of the city. Hotel and residential uses at the development are to be separated by a pedestrian alleyway, which will be lined with restaurant and retail tenants. Situated blocks from the site of the Amtrak station and potential new Brightline train station that would connect other major cities in the state, the …

November 10, 2022

Acquisitions Georgia Retail Southeast

Marcus & Millichap Arranges $25.5M Sale of Dollar General Portfolio Across Six States

by John Nelson November 9, 2022

ATLANTA — Marcus & Millichap’s Taylor McMinn Retail Group has arranged the sale of a Dollar General portfolio comprising 14 stores located in six states. Don McMinn of Marcus & Millichap based in Atlanta brokered the $25.5 million transaction. All 14 stores were constructed this year and are subject to 15-year triple net leases. An undisclosed developer sold the properties to an undisclosed, institutional retail owner. Of the sale, McMinn comments that there is an “increased institutional interest for net lease portfolios due to their attractive returns caused by a surplus of inventory and rising interest rates.”

November 9, 2022

Acquisitions North Carolina Retail Southeast

JLL Brokers Sale of 102,539 SF Emerald Plantation Shopping Center in Coastal North Carolina

by John Nelson November 9, 2022

EMERALD ISLE, N.C. — JLL has arranged the sale of Emerald Plantation Shopping Center, a 102,539-square-foot retail center located in Emerald Isle on the coast of North Carolina. Tom Kolarczyk of JLL represented the seller, Cameron Street Partners, in the $12 million transaction. Charlie Barzola of Eastern Commercial represented the unnamed buyer. The shopping center, which is anchored by a Food Lion, was 100 percent leased at the time of sale to tenants including Michelangelo’s Pizza, Shark’s Den Bar and Grill, Rucker John’s and Elly’s.

November 9, 2022

Acquisitions New Hampshire Northeast Retail

Atlantic Capital Partners Arranges Sale of 233,008 SF Former Sears Building in Salem, New Hampshire

by Taylor Williams November 9, 2022

SALEM, N.H. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of a 233,008-square-foot retail building formerly occupied by Sears in Salem, located in the southeastern part of the Granite State. The building is situated within the 1 million-square-foot Rockingham Park Mall and currently houses a Cinemark Theatres and a Dick’s Sporting Goods, which have backfilled 53 percent of the space. Justin Smith, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the seller in the transaction. Additional terms of sale were not disclosed.

November 9, 2022

Acquisitions Maine Northeast Retail

Horvath & Tremblay Negotiates $13.5M Sale of Shopping Center in Rockland, Maine

by Taylor Williams November 9, 2022

ROCKLAND, MAINE — Metro Boston-based brokerage firm Horvath & Tremblay has negotiated the $13.5 million sale of Harbor Plaza, a 169,079-square-foot shopping center in Rockland, located roughly midway between Portland and Bangor. Anchored by grocer Shaw’s, the center was roughly 93 percent leased at the time of sale to tenants such as T.J. Maxx, HomeGoods, Staples, Olympia Sports, H&R Block and The UPS Store. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the buyer and seller, both of which requested anonymity, in the deal.

November 9, 2022

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of Grocery-Anchored Shopping Center in Freeport, Illinois

by Kristin Harlow November 9, 2022

FREEPORT, ILL. — Mid-America Real Estate Corp. has brokered the sale of Freeport Plaza in Freeport, a city in northern Illinois. The sales price was undisclosed. A 62,500-square-foot Cub Foods grocery store anchors the 87,846-square-foot shopping center, which is 87 percent leased. Cub Foods recently extended its lease to 2027. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, a REIT. CRE Pro was the buyer.

November 9, 2022

Acquisitions Midwest Ohio Restaurant Retail

Cooper Group Negotiates $2.5M Sale of McDonald’s-Occupied Property in Gahanna, Ohio

by Kristin Harlow November 9, 2022

GAHANNA, OHIO — The Cooper Commercial Investment Group has negotiated the $2.5 million sale of a restaurant property occupied by McDonald’s in Gahanna, a northeast suburb of Columbus. Constructed in 2011, the building serves as an outparcel to the Hunter’s Ridge shopping center. Dan Cooper of Cooper Group represented the seller, a private investment group based in Florida. Cooper also procured the undisclosed buyer. The asset sold at full list price, representing a cap rate of 3.5 percent and $540 per square foot.

November 9, 2022

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