ALPHARETTA, GA. — Coro Realty Advisors has sold North Point Village, a 57,219-square-foot shopping center in the northern Atlanta suburb of Alpharetta. Mimms Enterprises purchased the property from Coro Realty for $19 million. Fred Victor of Atlantic Retail brokered the transaction. Situated on 5.2 acres near Ga. Highway 400, North Point Village’s tenant roster includes Talbots, Kohler and Learning Express. The 1.3 million-square-foot North Point Mall is immediately adjacent to the center.
FORT LAUDERDALE, FLA. — Hall of Fame Partners has obtained a $54 million credit-tenant lease loan for the construction and permanent financing of Phase I of the International Swimming Hall of Fame (ISHOF) complex. ISHOF is the planned $200 million redevelopment of the Ft. Lauderdale Aquatics facility, which was originally built in Fort Lauderdale in 1965. Phase I of the ISHOF complex will include the reconstruction of a foundational sea wall, as well as the development of a new building that will serve as the headquarters for the city’s Ocean Rescue department. The ground level of the 10,000-square-foot building will serve as storage for Ocean Rescue equipment such as paddleboards and jet skis. The second floor will consist of offices for the chief and lieutenants, a conference room, showers and locker rooms. According to Miami-based architect Arquitectonica, which designed the facility, subsequent phases will include the construction of two buildings that will house the museum, an aquatic facility with a covered teaching pool, restrooms and an administrative office, as well as restaurant and retail space. The ISHOF Museum will include a 20,000-square-foot museum space, along with ballrooms, event spaces and a rooftop restaurant. The building will also include parking facilities …
HUNTSVILLE, ALA. — Emergent Properties and RNGD have broken ground on The Lewter District, a $50 million adaptive reuse project in downtown Huntsville. Situated on 1.5 acres, the mixed-use development is a conversion and restoration of the historic Lewter Hardware Co. store that closed in 2022 after nearly a century of operation. Phase I of the development will feature 14 luxury residences along Washington Street called Lewter District Townhomes. Sanders Pace Architecture designed the residential community, which is expected to be completed by late 2025. Phase II comprises a renovation of the original hardware store building. The restored building will house farm-to-table restaurant Brick & Tin on the ground level and outdoor patio spaces as well as offices for RNGD on the second floor. Phase III calls for a ground-up, five-story office building. National law firm Maybard Nexsen has committed to occupying the top two floors of the office building, which will also feature ground-level retail space. EskewDumezRipple is the architect for the second and third phases of The Lewter District. Phases I and II are underway and Phase III is slated to break ground before the end of the year.
BOILING SPRINGS, S.C. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a new restaurant in Boiling Springs, a city about eight miles northwest of Spartanburg, S.C. Texas-based burger chain Whatburger occupies the restaurant on a 15-year, corporate-guaranteed ground lease with planned rental increases and extension options for the tenant. Built on 1.5 acres earlier this year, the 3,318-square-foot restaurant serves as an outparcel to a Target-anchored shopping center. Don McMinn of Marcus & Millichap represented the seller, a developer based in Tennessee, in the sale. The buyer was an all-cash exchange investor. “This is our second Whataburger closing this month, and we are closing another one in Atlanta in December,” says McMinn. “Whataburgers continues to garner strong demand and attractive pricing from investors and are one of the more desirable QSR options in the market today.”
MONROVIA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Huntington Oaks Center, a 250,787-square-foot shopping center located in Monrovia, approximately 20 miles outside Los Angeles. A Newport Beach, Calif.-based private investor sold the asset to a Los Angeles-based buyer for an undisclosed price. Built in 1984, the property was 75 percent occupied at the time of sale. Tenants at the center include Trader Joe’s, Burlington, Marshalls, Crunch Fitness, Chili’s Grill & Bar, Mimi’s Café, Chipotle Mexican Grill and Panda Express. A Kohl’s is also located at the property but was not included in the sale. Hanley Investment Group represented the seller, while the buyer was self-represented in the deal.
CULVER CITY, CALIF. — JLL Capital Markets has arranged $12.5 million in senior financing for Culver Theater, a movie theater in Culver City. Alex Olson, Joshua Blank and Sarah Kim of JLL Capital Market’s Debt Advisory represented the borrower, Oliver McMillan LLC, and secured the five-year, fixed-rate loan through Zions Capital Markets. Located at 9500 Culver Blvd., the 41,341-square-foot Culver Theater was built in 2004. The property features a six-screen movie theater experience with a full bar, theater snacks and kitchen fare, and plush seating along with six private sound stages. The theater, which was previously occupied by Arclight, was leased to a global e-commerce giant in June 2021 and opened to the public in 2022. The property is located across from Culver Studios, where a global e-commerce giant and movie production company operates more than 530,000 square feet of film and TV production space.
KANSAS CITY, MO. — The Cordish Companies has unveiled plans for a $10 million upgrade to Kansas City Live! in the city’s Power & Light District. The project will include updates to existing spaces and the introduction of a new concept to the entertainment destination. The Kansas City Live! Block will feature a new exterior canopy, ceiling heaters and misters to make the open-air venue welcoming during all seasons. New high-definition ribbon boards and enhanced theatrical lighting will enhance shows and events. Expanded group seating areas, fresh landscaping and additional bar access will enhance the atmosphere. Additionally, Pizza Bar will receive a patio refresh with new outdoor seating, upgraded finishes and bar. Opening in spring 2025, Besos y Abrazos is a Latin-inspired dining venue with DJs. The cuisine draws inspiration from traditional street foods across Latin America, and guests can enjoy crafted margaritas and sangria. Nightclub Mosaic will receive a $2.5 million upgrade and expansion, nearly doubling in size. Standout features will include a state-of-the-art audio system, lighting and DJ booth backed by a new high-resolution LED wall. There will also be a new luxury lounge with expansive bar and additional VIP seating, and a refreshed patio. Construction is scheduled …
NOVI, MICH. — Three new retail tenants are joining the tenant line-up at Sakura Novi, an Asian-themed mixed-use development in Novi. Teso Life is a Japanese-themed department store specializing in snacks, cosmetics, homeware, kitchenware, stationery and toy collectibles. The company has 15 stores in New York, Texas, Arizona and Georgia with 15 more in development in several states. The 12,000-square-foot store at Sakura Novi will mark the brand’s first Michigan location. Paris Baguette is a Korean-owned bakery specializing in French and Asian pastries and baked goods, cakes, sandwiches, coffee and drinks. Paris Baguette’s 3,000-square-foot store at Sakura Novi will be the third location in Michigan. The company has 3,785 stores in South Korea, China, Malaysia, Vietnam and Indonesia, and 105 stores in the U.S. and Canada. Klawsome! will be the first standalone claw machine arcade in Michigan. This type of arcade features the opportunity to win kawaii-style stuffies from claw machines. The stuffies can be traded in for larger or more rare stuffed animals and anime figurines. This form of entertainment is popular in Japan and other Asian countries, as well as U.S. cities with large Asian populations. The three stores will join previously announced restaurants, including Mikiya Wagyu Shabu …
PAULSBORO, N.J. — Marcus & Millichap has brokered the $2.5 million sale of a 46,236-square-foot shopping center in Paulsboro, located outside of Philadelphia in Southern New Jersey. Save-A-Lot Food Stores and Dollar Tree are the anchor tenants at the property at 545 Broad St. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller and buyer, both of which were private investors that requested anonymity, in the transaction.
DAYTONA BEACH, FLA. — Colliers has arranged the $26.4 million sale of Volusia Square, a 193,923-square-foot shopping center located at 2455 W. International Speedway Blvd. in Daytona Beach. Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, Lamar Cos., in the transaction. Mosaic Realty Partners purchased the shopping center, which is situated less than 300 yards from Daytona International Speedway. Volusia Square was 97.2 percent leased at the time of sale to tenants including Urban Air Adventure Park, Amped Fitness, Ollie’s Bargain Outlet and Restaurant Depot Express. Three retail outparcels were included in the sale, including two single-tenant buildings occupied by Buffalo Wild Wings and Arby’s and a multi-tenant building leased to Lenscrafters and Cava.
