Retail

Irgang Group Acquires 196,462 SF Shopping Center in Metro Charlotte

by Julia Sanders March 16, 2022

MONROE, N.C. — Nyack, N.Y-based Irgang Group has acquired Poplin Place, a 196,462-square-foot regional shopping center in Monroe, about 21.3 miles south of Charlotte. Ben Bruner of the Bruner Group represented Irgang Group in the transaction. Thomas Kolarczyk, Danny Finkle and Eric Williams of JLL Capital Markets represented the seller, Big V Property Group. The sales price was not disclosed. Built in 2005, Poplin Place is fully occupied by an anchor tenant lineup that includes T.J. Maxx, Ross Dress for Less, PetSmart, Burlington, Big Lots and pOpshelf. Poplin Place’s other tenants include Boot Barn, Rack Room Shoes, Kay Jewelers and Claire’s. Additionally, the center’s former Dress Barn space was divided to accommodate Bath & Body Works and Spectrum. Located on 30.2 acres at 2901 W US Highway 74, Poplin Place is located 28 miles from Charlotte Douglas International Airport and 28 miles from the University of North Carolina at Charlotte. Target shadow-anchors the shopping center.

March 16, 2022

Georgia Retail Southeast

Walmart Plans to Open Tech Hub in Atlanta

by Julia Sanders March 16, 2022

ATLANTA — Walmart has plans to open the Walmart Global Tech hub in Atlanta in order to accelerate its digital capabilities. The Arkansas-based retailer says it selected Atlanta because of the city’s growing tech presence in the United States, its connection to Walmart and the strong talent base in the area. The location of Walmart’s new offices was not disclosed. The Walmart Global Tech hub will develop and manage cloud, data, enterprise architecture, DevOps, infrastructure and security functions to support stores and customer experience. Most of the new positions will be for data scientists and software engineers, as well as cybersecurity professionals, architects, developers, data engineers, technical program managers and product managers. Along with Atlanta, Walmart plans to build 15 other Walmart Global Tech hubs, including in Toronto, Austin, Dallas, Silicon Valley, Seattle and Charlotte. Globally, the Walmart Global Tech hub includes more than 20,000 associates, with plans to hire over 5,000 more tech workers in the next year.

March 16, 2022

Acquisitions Retail Texas

SRS Real Estate Arranges $6M Sale of Retail Building in Midland

by Taylor Williams March 16, 2022

MIDLAND, TEXAS — Dallas-based brokerage firm SRS Real Estate Partners has arranged the $6 million sale of a 94,579-square-foot retail building in the West Texas city of Midland that is occupied by Kohls and Crunch Fitness. Both tenants operate on long-term, triple-net leases. The building was originally constructed in 2005 and is situated within a 250,000-square-foot shopping center that includes Ashley HomeStore, Cracker Barrel, Sherwin-Williams and Jack in the Box. Britt Raymond and Kyle Fant of SRS represented the seller, a Texas-based developer, in the transaction. Jake Bordelon of Marcus & Millichap represented the buyer, a California-based private investor.

March 16, 2022

Acquisitions Office Retail Texas

Stockdale Investment Group Acquires 85,000 SF Office, Retail Property in Dallas

by Taylor Williams March 16, 2022

DALLAS — Locally based firm Stockdale Investment Group has acquired Knox Park Village, an 85,000-square-foot office and retail property located in the Knox-Henderson area of Dallas. The two-acre property comprises roughly 59,000 square feet of office space and 26,000 square feet of retail space that is designed to accommodate about 30 tenants. Current retail users include Pei Wei Asian Diner, T-Mobile, Mattress Firm and Fadi’s Mediterranean Grill. The seller and sales price were not disclosed.

March 16, 2022

Acquisitions Indiana Midwest Retail

Marcus & Millichap Brokers $8M Sale of Retail Center in Hammond, Indiana

by Kristin Harlow March 16, 2022

HAMMOND, IND. — Marcus & Millichap has brokered the $8 million sale of a 55,010-square-foot retail center in Hammond, about 25 miles south of Chicago. Dollar Tree and Ross Dress for Less anchor the property, which was constructed in 2016 and is located at 1105 5th Ave. Additional tenants at the fully leased center include Rainbow and Sadoni Beauty Supply. Nicholas Kanich and Mitchell Kiven of Marcus & Millichap represented the seller, Luke Brands. Friedman Real Estate represented the buyer, Canyon Park Capital.

March 16, 2022

Leasing Activity New York Northeast Retail

Bed Bath & Beyond Renews 42,000 SF Lease in Bohemia, New York

by Taylor Williams March 16, 2022

BOHEMIA, N.Y. — Bed Bath & Beyond has renewed its 42,000-square-foot lease at Sayville Plaza, a shopping center located in the Long Island community of Bohemia. Other tenants at Sayville Plaza include Northwell Health, Old Navy, Panera Bread, Jennifer Furniture, The Vitamin Shoppe, Chipotle Mexican Grill and Sprint. Robert Delavale of Breslin Realty represented the landlord in the lease negotiations.

March 16, 2022

Acquisitions Midwest Minnesota Retail

JLL Arranges Sale of Galleria Edina Shopping Mall in Suburban Minneapolis

by Kristin Harlow March 15, 2022

EDINA, MINN. — JLL Capital Markets has arranged the sale of Galleria Edina in the Minneapolis suburb of Edina. The sales price was $150 million, according to Twin Cities Business. The 398,585-square-foot shopping mall is 99 percent leased to tenants such as Louis Vuitton, Tiffany & Co., Lululemon, Peloton, Tory Burch, Pottery Barn, Bluemercury, Warby Parker, Coach, Shinola and more. Danny Finkle, Barry Brown, Dave Monahan, Amy Sands, Cameron Pittman, Matt Hazelton and Cory Villaume of JLL represented the undisclosed seller. Local investor group 70th Street Properties LLC was the buyer. Park State Bank provided acquisition financing.

March 15, 2022

Illinois Loans Midwest Office Retail

PGIM Real Estate Provides $101M in Acquisition Financing for Four-Property Portfolio in Chicago

by Kristin Harlow March 15, 2022

CHICAGO — PGIM Real Estate has provided $101 million in floating-rate bridge financing for the acquisition and lease-up of a four-property retail and office portfolio in Chicago’s Fulton Market district. The buildings span 168,206 square feet and are home to 18 tenants. Asana Partners, a real estate investment company headquartered in Charlotte, N.C., was the borrower. Further details were not provided.

March 15, 2022

Development Illinois Midwest Retail

IMPACT Strategies Begins Renovations at World Wide Technology Raceway Near St. Louis

by Kristin Harlow March 15, 2022

MADISON, ILL. — Design-build firm IMPACT Strategies has begun interior and exterior renovations of the Oval Tower Suites at World Wide Technology Raceway in Madison, about nine miles northeast of St. Louis. The project includes improvements to the private viewing area, including the rooftop space and 28 private suites. The motorsport racing facility is undergoing a multi-million-dollar renovation plan leading up to the 2022 NASCAR Cup Series on June 5.

March 15, 2022

Acquisitions Illinois Midwest Retail

Marcus & Millichap Brokers $4.8M Sale of Retail Center in Forsyth, Illinois

by Kristin Harlow March 15, 2022

FORSYTH, ILL. — Marcus & Millichap has brokered the $4.8 million sale of Forsyth Center in Forsyth, about 45 miles east of Springfield, the state capital. The 30,087-square-foot retail center is located at 1460 Koester Road. The property is home to PetSmart and Dollar Tree, both of which have been tenants since the center was constructed in 2006. Tammy Saia and Tami Andrew of Marcus & Millichap represented the seller, a local developer. Buyer information was not provided.

March 15, 2022

Newer Posts

Older Posts