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Crossings at Wildlight
DevelopmentFloridaRetailSoutheast

Sleiman Breaks Ground on 90,000 SF Publix-Anchored Shopping Center in Yulee, Florida

by Julia Sanders

YULEE, FLA. — Sleiman Enterprises has broken ground on Crossings at Wildlight, a Publix-anchored shopping center in Yulee. Located at the corner of Fla. Highway 200 and William Burgess Boulevard, the retail center will be situated a quarter-mile off Interstate 95 and offer the first grocery store in the community. Designed by Cuhaci & Peterson, the 90,000-square-foot project will include five single- or multi-tenant buildings and up to three outparcels. Sleiman is planning a grand opening for spring 2022. The shopping center will serve as a retail component within Wildlight, a master-planned development in Nassau County by Raydient Places + Properties. Other recent uses to open at Wildlight include its second neighborhood, Forest Park, as well as UF Health Wildlight and a YMCA.

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Publix-anchored
DevelopmentGeorgiaRetailSoutheast

Branch Properties, Carter to Develop 87,000 SF Publix-Anchored Shopping Center in Atlanta’s Summerhill District

by Julia Sanders

ATLANTA — A joint venture between Branch Properties and Carter USA will develop an 87,000-square-foot, grocery-anchored shopping center in the south Atlanta neighborhood of Summerhill. The center will be anchored by a 50,000-square-foot Publix grocery store and will feature a two-level parking deck. Leasing at the development, which is scheduled for completion in fall 2022, is currently underway with roughly 37,000 square feet of space available for a variety of retail or service tenants. Carter is currently redeveloping the surrounding 19-block area into a hub for retail, dining, housing and office space alongside Georgia State University’s (GSU) athletic facilities, namely Center Parc Credit Union Stadium (formerly Turner Field). Adjacent to the future Publix shopping center is the recently redeveloped Georgia Avenue, which features restaurants and bars, such as Wood’s Chapel BBQ, Maepole, Hero Doughnuts, Halfway Crooks Beer, Little Tart Bakeshop, Junior’s Pizza and Big Softie. Summerhill is an 80-acre project south of downtown Atlanta. Following the Atlanta Braves’ move away from Turner Field to Truist Park in Cobb County, Carter, in partnership with GSU, purchased 80 acres of land in the community, with the vision of creating a walkable district within close proximity to transportation options and downtown Atlanta. In …

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Heather Island Plaza
AcquisitionsFloridaRetailSoutheast

CBRE Arranges Sale of 70,970 SF Heather Island Plaza in Ocala, Florida

by Julia Sanders

OCALA, FLA. — CBRE has arranged the sale of a Heather Island Plaza, a 70,970-square-foot, Publix-anchored shopping center in Ocala. Built in 2000, the property is located at 7878 SE Maricamp Road, and was 85 percent leased at the time of sale. CBRE represented the seller, a joint venture between Madison International Realty and SITE Centers Corp., in the transaction. The seller, New Bandera Ventures, sold the asset for an undisclosed price.

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AcquisitionsRetailTexas

Marcus & Millichap Brokers Sale of 26,318 SF Retail Center in Texas City, Texas

by Taylor Williams

TEXAS CITY, TEXAS — Marcus & Millichap has brokered the sale of Three Palms Retail Center, a 26,318-square-foot property in Texas City, located south of Houston. Gus Lagos, Alex Wolansky, Jacob Starr and Zuhare Rizvon of Marcus & Millichap represented the seller in the transaction. Riley Sharman, also with Marcus & Millichap, represented the buyer. Both parties were limited liability companies that requested anonymity.

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AcquisitionsRetailTexas

STRIVE Arranges Sale of 15,690 SF Shops on Custer in Metro Dallas

by Taylor Williams

MCKINNEY, TEXAS — Locally based retail brokerage firm STRIVE has arranged the sale of Shops on Custer, a 15,690-square-foot retail strip center located in the northern Dallas suburb of McKinney. Jason Vitorino of STRIVE represented the seller, a local developer, in the transaction. Hudson Lambert, also with STRIVE, represented the Texas-based buyer. The property was fully leased to seven tenants at the time of sale.

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AcquisitionsMidwestNebraskaRetail

MAG Capital Partners Sells 88,000 SF Athletic Facility in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — MAG Capital Partners LLC has sold an approximately 88,000-square-foot athletic and tennis facility in Lincoln to the property’s tenant, Genesis Health Clubs. The sales price was undisclosed. MAG Capital Partners purchased the property, located at 5300 Old Cheney Road, in 2017 and leased it to Genesis. The property offers tennis, racquetball, aquatics, youth programs, tanning, massage therapy, a café and pro shop. Plans for a major remodel are underway. Fort Worth, Texas-based MAG Capital Partners is led by principals Dax T.S. Mitchell and Andrew Gi. Genesis operates 57 locations across six states.

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300 Pine Building
Market ReportsRetailWashingtonWesternWestern Market Reports

Seattle Companies Are Watching Three Top Retail Trends

by Jeff Shaw

By Tory Glossip, Managing Director, Colliers Puget Sound has 553,566 square feet of retail under construction, comprising 0.4 percent of existing inventory. The market dynamic will keep retail property values in the Pacific Northwest higher than most U.S. markets that are overbuilt. Puget Sound’s retail market posts rents 30 percent above the national average at $20.71 per square foot.  Pricing is traditionally a function of supply and demand. In the retail world, that demand relies partially on income. The most expensive markets to lease retail space also happen to have the highest incomes…by far. Despite ideas in some circles that retail is dead, physical footprints will continue to be an important part of the retail landscape, although less so in downtown areas until workers return to the office. Most consumers have retreated to submarkets, leaving retailers to explore alternative options to use their property more effectively. Brands are expanding their reach with small-format stores and cross-promoting their products and services in showrooms. Many are leveraging smaller footprints into touch-and-feel locations that seamlessly blend online browsing and in-store purchasing. The shopping mall as we know it will have a different look and feel post-COVID. With big box retail reallocating existing space into localized …

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AcquisitionsKentuckyRetailSoutheast

Bay Country Estates Purchases Burger King-Leased Property in Shepherdsville, Kentucky for $1.6M

by Julia Sanders

SHEPHERDSVILLE, KY. — Bay Country Estates has purchased a 34,484-square-foot retail property in Shepherdsville that is ground-leased to Burger King. An entity doing business as Dixie Hwy Development #3 LLC sold the property for $1.6 million. Carrols Corp. operates the Burger King location, which has 18.5 years remaining on its lease. The property is located at 315 Keystone Crossing Drive, about 20 miles south of Louisville. Jesse Limon of Marcus & Millichap’s Manhattan office represented the seller in the transaction. Jesse Limon and Colby Haugness of Marcus & Millichap’s Kentucky office represented the buyer.

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Northeast Heights
DevelopmentDistrict of ColumbiaOfficeRetailSoutheastTop Stories

Joint Venture Breaks Ground on $600M Northeast Heights Redevelopment in Washington, D.C.

by Julia Sanders

WASHINGTON, D.C. — A joint venture between Cedar Realty Trust (NYSE: CDR), Asland Capital Partners and the Goldman Sachs Urban Investment Group has broken ground on the first phase of Northeast Heights. The $600 million mixed-use office and retail development is located in the Minnesota and Benning submarket of Washington, D.C.’s Ward 7 neighborhood. The property is located at 3924 Minnesota Ave. Construction has a completion date of late 2022 or early 2023. The first phase of Northeast Heights includes the construction of a 258,500-square-foot office building, as well as 18,000 square feet of street-level retail space. The office space is 100 percent leased to the Washington, D.C., Department of General Services (DGS) for its headquarters. Northeast Heights is a multi-phase, mixed-use redevelopment of two existing retail shopping centers at the intersection of Minnesota Avenue and Benning Road. Cedar Realty Trust will lead future phases of the development, which will include the development of multifamily residential with designated affordable apartments, additional office space, community gathering areas and retail space including a new grocery store. The retail for the DGS building will be made up primarily of full-service and/or fast-casual restaurants, as well as service establishments for the 400 to 500 …

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Gateway101-East-Palo-Alto-CA
AcquisitionsCaliforniaRetailWestern

Regency Centers Sells 92,110 SF Gateway 101 Retail Center in East Palo Alto, California

by Amy Works

EAST PALO ALTO, CALIF. — Regency Centers has completed the sale of Gateway 101, a shopping center located at 1771 E. Bayshore Road in East Palo Alto. A private foreign investor acquired the property for $53.2 million. Built in 2000 and renovated in 2017, Gateway 101 features 92,110 square feet of retail space. At the time of sale, the property was fully occupied by Target and Nordstrom Rack. The asset is a part of a larger 430,000-square-foot retail property. Bryan Ley, Eric Kathrein and Tony Ensbury of JLL Capital Markets represented the seller in the deal.

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