Retail

JLL Arranges Sale of Publix-Anchored Retail Center in Metro Huntsville for $19.2M

by Julia Sanders September 28, 2021

MADISON, ALA. — JLL Capital Markets has arranged the $19.2 million sale of Madison Commons, a 75,340-square-foot shopping center in Madison. JRW Realty represented the buyer, ExchangeRight. Brad Peterson, Whitaker Leonhardt, Jim Hamilton, Brad Buchanan, Andrew Michols and Michael Brewster of JLL represented the seller, Michael Collard Properties. Completed in 2018, Publix anchors the property, which is currently 92 percent occupied. Other national and regional tenants include Easy Vet Clinic, Golden China, ATI Physical Therapy, Goodwill, Primp and Posh Nail and Pita Mediterranean. Located at 300 Hughes Road, the asset sits at the intersection of Hughes and Brows Ferry roads less than two miles from U.S. Highway 72.

September 28, 2021

Acquisitions Retail Texas

Edens Buys 163,145 SF Grocery-Anchored Shopping Center in Austin

by Taylor Williams September 27, 2021

AUSTIN, TEXAS — Shopping center owner-operator Edens has purchased Springdale Shopping Center, a 163,145-square-foot, grocery-anchored retail property in Austin. Regional grocer H-E-B is the anchor tenant at the center, which was fully leased at the time of sale. Other tenants include Ross Dress for Less, dd’s, Dollar Tree, O’Reilly Auto Parts, Subway, KFC and Wingstop. Chris Gerard, Ryan Shore, Clint Coe, Erin Lazarus and Zach Riebe of JLL represented the seller, Forge Capital Partners, in the transaction.

September 27, 2021

Acquisitions Georgia Retail Southeast

First National Realty Partners Acquires City Center Crossing Shopping Center in Sandy Springs, Georgia

by Jeff Shaw September 27, 2021

SANDY SPRINGS, GA. — First National Realty Partners (FNRP) has acquired City Center Crossing, a grocery-anchored shopping center located at 6331 Roswell Road in Sandy Springs, a northern suburb of Atlanta. City Center Crossing is a 98,408-square-foot asset that is 77 percent occupied. A 27,858-square-foot Lidl Supermarket that opened in May 2020 anchors the property. The seller and price were not disclosed. “We are extremely excited to not only acquire our first asset in the Atlanta Market but to also add Lidl to our portfolio, one of the most rapidly growing grocers in the country,” says Matt Annibale, senior director of acquisitions at First National Realty Partners. “The remaining vacancy in the center will provide significant upside for our investors.”

September 27, 2021

Acquisitions Midwest Missouri Retail

JLL Brokers Sale of Adam’s Dairy Landing Shopping Center in Metro Kansas City

by Kristin Harlow September 27, 2021

BLUE SPRING, MO. — JLL Capital Markets has brokered the sale of Adam’s Dairy Landing, a 279,843-square-foot open-air shopping center in the Kansas City suburb of Blue Spring. The property is 96 percent leased to tenants such as TJ Maxx, HomeGoods, Dollar Tree, Ross Dress for Less, Petco, Michaels, Old Navy, Ulta Beauty and Five Below. Built in 2010, the shopping center sits on more than 33 acres at 800 NE Coronado Drive. Clinton Mitchell, Amy Sands, Michael Nieder and Jim Gates of JLL represented the seller, a private investment fund. Albanese Cormier was the buyer.

September 27, 2021

Acquisitions Midwest Ohio Retail

DealPoint Merrill Purchases 155,805 SF Shopping Center in Parma Heights, Ohio

by Kristin Harlow September 27, 2021

PARMA HEIGHTS, OHIO — DealPoint Merrill has purchased The Shops at Pearl & 130th in Parma Heights, a western suburb of Cleveland. The purchase price was undisclosed. DealPoint Merrill plans to embark on a $10 million renovation project for the 155,805-square-foot shopping center. Construction is scheduled to begin in the first quarter of 2022. This will be the fourth major construction project launched by DealPoint Merrill in the Cleveland area. DealPoint Merrill’s David Frank and Sterling McGregor handled the due diligence and financing, while Jason Limbert and Tyler Bendicksen completed the acquisition and underwriting.

September 27, 2021

Acquisitions Georgia Retail Southeast

CBRE Arranges Sale of North Dekalb Mall in Atlanta, Buyer Plans Mixed-Use Redevelopment

by Julia Sanders September 24, 2021

DECATUR, GA. — CBRE has arranged the sale of North Dekalb Mall in Decatur, about 8.6 miles east from downtown Atlanta. West Palm Beach, Fla.-based Sterling Organization sold the property for an undisclosed price. The buyer, Edens, who has a headquarters office in Washington, D.C., plans to redevelop the mall into a mixed-use property, according to The Atlanta Journal-Constitution. Located at 2050 Lawrenceville Highway, North Dekalb Mall is located on 76.7 acres at the intersection of Lawrenceville Highway and North Druid Hills Road. The property is situated less than 1.5 miles west of Interstate 285. The enclosed mall’s tenants include AMC Theatres, Dollar Tree, Burlington and Marshalls. AMC Theatres has a maximum of six years left on its lease term at the location.

September 24, 2021

Acquisitions North Carolina Retail Southeast

Marcus & Millichap Brokers Sale of 152,030 SF Shopping Center in Greensboro, North Carolina

by Julia Sanders September 24, 2021

GREENSBORO, N.C. — Marcus & Millichap has brokered the sale of West Market Shopping Center, a 152,030-square-foot, Food Lion-anchored retail property in Greensboro. The property sold for $9.1 million. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Built in 1963, West Market Shopping Center is located at 4637-4653 W. Market St. The property’s tenant roster includes Cato, Strength & Body and Reconsidered Goods.

September 24, 2021

Acquisitions District of Columbia Life Sciences Retail Southeast Top Stories

JLL Arranges $168.3M Sale of Retail Portfolio Across Mid-Atlantic

by Julia Sanders September 24, 2021

WASHINGTON, D.C. — JLL Capital Markets has arranged the sale of a portfolio of eight infill neighborhood retail assets totaling 695,991 square feet in Washington, D.C., northern Virginia and southern Maryland. Stephen Conley, Danny Finkle, Jordan Lex and Kim Flores of JLL represented the D.C.-based seller, WashREIT (NYSE: WRE), which sold the portfolio for $168.3 million. The buyers were Rosenthal Properties and an undisclosed institutional partner, according to the Washington Business Journal. The news outlet also reports the seller had acquired the eight properties over the span of five decades. The portfolio includes two properties in Washington, D.C., two in Northern Virginia and four in Maryland. The properties in D.C. include Chevy Chase Metro Center and Spring Valley Village. The Virginia properties are 800 S. Washington St. in Alexandria and Concord Centre in Springfield. The southern Maryland properties are Montrose Shopping Center and Randolph Shopping Center in Rockdale; Takoma Park Shopping Center in Takoma; and Westminster Shopping Center in Westminster. The properties are 82 percent leased collectively. Four of the shopping centers are grocery-anchored by stores such as Mom’s Organic Market at Montrose Shopping Center and Aldi at Springfield’s Concord Centre. Other grocery anchors include Food Lion and Giant. The …

September 24, 2021

Leasing Activity North Carolina Office Retail Southeast

East West Partners Signs Three Leases for New Tenants to Join Crabtree Terrace in Raleigh

by Julia Sanders September 23, 2021

RALEIGH, N.C. — East West Partners has signed leases with two retail tenants and one office tenant at Crabtree Terrace, a 173,468-square-foot mixed-use development in Raleigh’s Crabtree Valley district. Hillman Duncan and John MacDonnell of JLL handle office leasing on behalf of the owner. CBRE is leading the retail leasing efforts. Located at 4509 Creedmoor Road, Crabtree Terrace includes 145,000 square feet of Class A office space and over 28,000 square feet of retail space. Opened in 2020, the building’s amenities include a fitness facility and locker rooms, as well as is located close to the Crabtree Creek Trail. Crabtree Terrace is just 10 miles from the Raleigh-Durham International Airport. JLL signed an undisclosed tenant to 13,000 square feet of office space at the property. The building already has office tenants, including Spaces, a coworking company, and Longleaf Law Partners, a boutique commercial real estate law firm. CBRE has added two retailers to the building’s ground floor, both of which will open by the end of 2021. The two new tenants are financial services company Fidelity Investments, which has signed a 7,400-square-foot lease, and Fiction Coffee, a Texas-based café that has signed a 1,400-square-foot lease. The property has additional onsite …

September 23, 2021

Acquisitions Florida Retail Southeast

TSCG Arranges $12M Sale of Walmart-Anchored Shopping Center in Tampa

by Julia Sanders September 23, 2021

TAMPA, FLA. — TSCG has arranged the sale of The Greenhouse Shops, a Walmart-anchored shopping center in Tampa. Anthony Blanco and Mallory Silva of TSCG represented Abaco-Greenhouse, a private partnership in the $12 million sale to an affiliate of CF Properties, a private real estate investment firm from Miami. Built in 1985 and renovated in 2014, The Greenhouse Shops totals 36,670 square feet, not including Walmart, and was 96 percent leased at the time of sale. The Walmart Neighborhood Market totals 41,689 square feet. Located at 3611 W Hillsborough Ave., The Greenhouse Shops is situated on West Hillsborough Avenue and Himes Avenue. Also included in the sale was a Murphy’s USA Express gas station along Hillsborough Avenue. Other tenants in the center include Sanitas Medical Center, La Familia Pawn and Jewelry and El Oso Blanco Supermarket.

September 23, 2021

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