Tuesday, July 8, 2025
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Company NewsMichiganMidwestNew HampshireNortheastRetailTop Stories

C&S Wholesale Agrees to Acquire SpartanNash in $1.8B Grocery Merger

by Taylor Williams

KEENE, N.H. AND GRAND RAPIDS, MICH. — C&S Wholesale Grocers, a New Hampshire-based food supplier whose brands include Piggly Wiggly and Grand Union, has agreed to acquire Michigan-based SpartanNash (NASDAQ: SPTN), owner of brands such as Our Family and Full Circle Market, in a merger valued at nearly $1.8 billion. The figure represents a purchase price of $26.90 per share of SpartanNash common stock in cash and includes the assumption of SpartanNash’s existing debt. The price marks a 52.5 percent premium over the company’s closing price of $17.64 per share on June 20 and a premium of 42 percent over the company’s 30-day volume-weighted average stock price as of that date. The merger, which has been unanimously approved by both companies’ boards of directors, is expected to close before the end of the year. Upon closing, the new company will operate more than 200 corporate-run grocery stores and almost 60 complementary distribution centers throughout the country. The distribution centers will supply more than 10,000 independent retail locations. “For our customers, this transaction creates the necessary scale, efficiency and purchasing power needed to enable independent retailers to compete more effectively with larger big box chains,” says Tony Sarsam, president and CEO …

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AlabamaDevelopmentRetailSoutheast

Publix Opens New 48,387 SF Grocery Store in Meridianville, Alabama

by Abby Cox

MERIDIANVILLE, ALA. — Publix has opened a new store within Flint Crossing Market Place, a 64,925-square foot neighborhood retail center in Meridianville, roughly 10 miles north of Huntsville. Located at 12290 Highway 231/431 N, the store spans 48,387 square feet and features a full-service deli, bakery, seafood counter, produce section and a pharmacy with a drive-thru. Publix Super Markets, doing business as Real SUB LLC, is the landlord of Flint Crossing Market Place.

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LoansRetailSoutheastVirginia

Cushman & Wakefield Secures $28.7M in Bridge Financing for Manassas Mall in Northern Virginia

by Abby Cox

MANASSAS, VA. — Cushman & Wakefield has secured $28.7 million in bridge financing for Manassas Mall, a 941,574-square-foot shopping mall located in Manassas, roughly 31 miles southwest of Washington, D.C. Miami-based Lionheart Capital was the borrower. Robert Kaplan and Mark Rutherford of Cushman & Wakefield’s Miami office, along with Michael Zelin, Bindi Shah and Ryan McMahon of the firm’s Washington, D.C. office, represented Lionheart Capital in the transaction. Originally developed in 1972, Manassas Mall was expanded in 1988 and renovated in 2016. The mall features more than 80 retailers, including Macy’s, JCPenney, Sears, Target, Walmart, H&M, American Eagle Outfitters and Old Navy, as well as a movie theater and arcade. Lionheart Capital has owned Manassas Mall since 2020. Spinoso Real Estate Group manages the mall.

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LoansRetailTexas

Stellar Bank Provides Acquisition Financing for 44,494 SF Shopping Center in Killeen, Texas

by Taylor Williams

KILLEEN, TEXAS — Stellar Bank has provided an undisclosed amount of acquisition financing for a 44,494-square-foot shopping center in the Central Texas city of Killeen. Built in 2017 and shadow-anchored by grocer H-E-B, West Killeen Market was 74 percent leased at the time of the loan closing to tenants such as Cricket Wireless, Great Clips, The Joint, Venetian Nails & Spa, Lone Star Dental and Papa John’s. Clint Coe, Chad Lisbeth and Charlie Mossy of JLL arranged the four-year loan on behalf of the borrower, Brownlee Waggoner Holdings LLC. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, an Austin-based developer, in the transaction and procured the buyer.

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AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Arranges $7M Sale of Single-Tenant Retail Property in Chino, California

by Amy Works

CHINO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $7 million sale of a newly constructed, 5,596-square-foot single-tenant retail property located within the master-planned community of The Preserve in Chino. A 7-Eleven convenience store — which also features a Laredo Taco Co. quick-service restaurant and 12 fuel pumps — occupies the site on a 15-year, triple-net-lease basis with 10 percent rental increases every five years. Jeremy McChesney and Andrew Sprowl of Hanley represented the developer and seller, Ledo Capital Group, in the transaction. Adam Bloom of Lee & Associates represented the buyer, a private investor. Hanley Investment Group has facilitated the sale of 52 7‑Eleven retail properties in the past six years.

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AcquisitionsIllinoisMidwestMultifamilyRetail

Interra Realty Brokers $5.9M Sale of Apartment, Retail Property in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $5.9 million sale of 6642-6652 N. Clark St., a 42-unit apartment and retail building in Chicago’s Rogers Park neighborhood. The sale also included an adjacent parking lot at 6654 N. Clark St. Brad Feldman of Interra represented the buyer, Imran Khan, and the seller, George Triff. The property, which was fully occupied at the time of sale, features six studios, 28 one-bedroom units, two two-bedroom apartments and six retail units. Constructed in 1928, the three-story building presents a value-add opportunity for the buyer, who plans to renovate units, upgrade building systems and reconfigure some apartments to add bedrooms.

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DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Seritage Growth Signs 17 New Tenants at Esplanade at Aventura in Metro Miami

by John Nelson

AVENTURA, FLA. — Seritage Growth Properties, a REIT created by Sears Holdings in 2015, has signed leases with 17 new tenants at Esplanade at Aventura, its 215,000-square-foot mixed-use development located in the northeastern Miami suburb of Aventura. Retail and restaurant concepts including The Salty Donut, If So, Chip City and The Shade Store recently opened at the property, while Tremble, Bank of America and Hästens will open this summer. Pura Vida Miami, Salt & Straw, Starbucks Coffee, Wairua Beauty and Next Health are expected to open this fall. Additional stores that will be arriving later in the year include 7th Avenue, Lola + The Boys, The Keys Co. and Anatomy Fitness. Lastly, Feulard Aesthetic Lab plans to open in spring 2026. The new tenants will occupy approximately 55,000 square feet at the development. Completed in 2023 and located adjacent to Aventura Mall, Esplanade at Aventura features more than 40 retail, dining and entertainment options, including Pinstripes and The LEGO Store. The project also includes healthcare tenants like One Medical and CCRM Fertility, as well as coworking operator Industrious.

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DevelopmentFloridaLoansRetailSoutheast

Ocean Bank Provides $54M Construction Loan for Whole Foods-Anchored Retail Project in Miami Beach

by John Nelson

MIAMI BEACH, FLA. — Ocean Bank has provided a $54 million construction loan for a retail development in Miami Beach. The borrower, 1901 Alton Property LLC, an affiliate of veteran developer Russell Galbut and his daughter Marisa Galbut, is developing a commercial building that will house a 40,883-square-foot Whole Foods Market, 4,000-square-foot Wells Fargo bank branch and 271 parking spaces. Jorge Hernandez of Ocean Bank originated the financing on behalf of the borrower, which has been doing business with Ocean Bank for 35 years. Details of the loan and the development timeline were not released.

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AcquisitionsRetailTexas

Partners Real Estate Brokers Sale of 43,060 SF Shopping Center in North Houston

by Taylor Williams

HOUSTON — Partners Real Estate has brokered the sale of Spring Park Village, a 43,060-square-foot shopping center in North Houston. According to LoopNet Inc., the center was built in 2015 and is home to tenants such as McAlister’s Deli, Adriatic Café, Spring Park Dentistry and J’s CBD + Vape Smoke Shop. Marc Peeler and Cobo Fajardo of Partners represented the buyer in the transaction. Additional terms of sale were not disclosed.

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AcquisitionsArizonaRetailWestern

Rein & Grossoehme Brokers $5M Sale of 35,926 SF Shopping Center in Phoenix

by Amy Works

PHOENIX — Rein & Grossoehme Commercial Real Estate has arranged the $5 million sale of Siete Square, a 35,926-square-foot shopping center located at 4139 W. Bell Road in Phoenix. Mark Rein of Rein & Grossoehme represented the seller, Butterfield Trail LLC, and the buyer, Bell Square LLC, in the transaction. Originally built in 1985, the property was 87 percent leased to tenants including Mattress Max and Georges Baddawi at the time of sale. The center also features a freestanding pad site occupied by Jack in the Box, which was not included in the sale.

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