Retail

SRS Brokers $6.3M Sale of Strip Retail Center in Waldorf, Maryland

by John Nelson January 13, 2025

WALDORF, MD. — SRS Real Estate Partners has brokered the $6.3 million sale of The Shoppes at Waldorf Park, a retail strip center situated within the larger Waldorf Park shopping center in Waldorf. Starbucks Coffee anchors the 8,484-square-foot property, which was built in 2022. Other tenants include Crumbl Cookies, Jersey Mike’s Subs and Aspen Dental. Andrew Fallon, Rick Fernandez, Ed Laycox and Philip Wellde Jr. of SRS represented the seller, Republic Land Development, in the transaction. TD Bank provided acquisition financing on behalf of the Maryland-based buyer.

January 13, 2025

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of Fresh Market-Occupied Retail Property in Chicago’s Lincoln Park

by Kristin Harlow January 13, 2025

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a 17,706-square-foot retail property occupied by The Fresh Market in Chicago’s Lincoln Park neighborhood. The sales price was undisclosed. The grocery store is located at the corner of Halsted Street and Diversey Parkway. Joe Girardi and Nick Kohlmann of Mid-America represented the seller, and the asset sold to a private buyer.

January 13, 2025

Development Illinois Leasing Activity Midwest Retail

Three New Retailers Join Tenant Lineup at East Court Village in Pekin, Illinois

by Kristin Harlow January 13, 2025

PEKIN, ILL. — Ross Dress for Less, Marshalls and Five Below have joined the tenant lineup at East Court Village in Pekin, about 10 miles south of Peoria. The retailers are slated to open in fall 2025. East Court Village, owned by Cullinan Properties, is currently undergoing significant upgrades and improvements.

January 13, 2025

Leasing Activity New York Northeast Retail

Burlington to Open 77,970 SF Store at 620 Avenue of the Americas in Manhattan

by Taylor Williams January 13, 2025

NEW YORK CITY — Burlington will open a 77,970-square-foot store at 620 Avenue of the Americas in Manhattan’s Chelsea area. The discount clothing retailer is relocating and expanding from a 40,000-square-foot space at 695 Avenue of the Americas via a 12-year lease. Cliff Simon of CNS Real Estate represented Burlington in the lease negotiations. Richard Skulnik, Lindsay Zegans, Ben Sabin and Mary Schwagerl of RIPCO Real Estate, along with internal agent Daniel Birney, represented the landlord, RXR.

January 13, 2025

Bridgepoint-Shopping-Center-San-Mateo-CA

Acquisitions California Retail Western

JLL Brokers $127M Sale of Bridgepointe Shopping Center in San Mateo, California

by Amy Works January 10, 2025

SAN MATEO, CALIF. — JLL Capital Markets has brokered the $127 million sale of Bridgepointe Shopping Center in San Mateo, roughly 20 miles south of San Francisco. Originally developed in 1988 and renovated in 2023, the 231,700-square-foot property spans 23.7 acres. Tenants at the center, which was fully leased at the time of sale, include Ross Dress for Less, Marshalls, Nordstrom Rack, Total Wine & More, Chick-fil-A, Five Below and The Container Store. Eric Kathrein, Daniel Tyner, Geoff Tranchina, Greg Lvovich, Warren McClean and Danny Finkle of JLL Capital Markets represented the seller, Nuveen Real Estate, in the transaction. Additionally, JLL procured the buyer, a joint venture between Sterling Organization and Cohen & Steers, and secured acquisition financing.

January 10, 2025

Acquisitions Indiana Midwest Retail

Block & Co. Brokers Sale of 30,300 SF Retail Center in Decatur, Indiana

by Kristin Harlow January 10, 2025

DECATUR, IND. — Block & Co. Inc. Realtors has brokered the sale of a 30,300-square-foot retail center in Decatur, about 20 miles southeast of Fort Wayne. The sales price was undisclosed. The Rural King-anchored property is located at the northwest quadrant of Nuttman Avenue and 13th Street. David Block and Phil Peck of Block & Co. represented the undisclosed seller, and the asset sold to a local buyer. The transaction marks the final sale in a 13-property shopping center portfolio, which was comprised of primarily Walmart Supercenter or Rural King-anchored properties in six Midwest states. Block & Co. was also the management and leasing company for all 13 shopping centers.

January 10, 2025

Development Leasing Activity Retail Southeast Virginia

Whole Foods to Open 45,000 SF Grocery Store in Falls Church, Virginia

by John Nelson January 10, 2025

FALLS CHURCH, VA. — Whole Foods Market plans to open a new 45,000-square-foot grocery store at 103 E. Broad St. in Falls Church, about nine miles west of Washington, D.C. The new store is set to open on Feb. 7 and will replace an existing Whole Foods store at 7511 Leesburg Pike in Falls Church that has operated for more than 25 years. The new store’s product assortment features more than 700 local items from the D.C., Maryland and Virginia (DMV) region. The landlord of the new Whole Foods was not disclosed, but multiple media outlets report the store will anchor the Broad & Washington mixed-use development by Insight Property Group. The new store will be situated on the ground level of a 334-unit apartment building that opened last August.

January 10, 2025

Acquisitions New Jersey Northeast Retail

KPR Centers Acquires Southern New Jersey Shopping Center for $41.7M

by Taylor Williams January 9, 2025

VOORHEES, N.J. — New York City-based owner-operator KPR Centers has acquired Eagle Plaza, a 230,000-square-foot shopping center in Voorhees Township, located outside of Philadelphia in Southern New Jersey. Anchored by Acme Markets, the property was leased to approximately 40 retailers and restaurants at the time of sale. Other tenants at the center include Ross Dress for Less, Five Below, Chipotle Mexican Grill and Ace Pickleball Club. Brad Nathanson and J.P. Colussi of Institutional Property Advisors, a division of Marcus & Millichap, represented both KPR Centers and the undisclosed seller in the transaction.

January 9, 2025

Acquisitions Massachusetts Northeast Retail

Winstanley Enterprises, Surrey Equities Buy Metro Boston Mall for $28M

by Taylor Williams January 9, 2025

CHELMSFORD, MASS. — Winstanley Enterprises and Surrey Equities have purchased Chelmsford Mall, located northwest of Boston, for $28 million in an off-market transaction. The seller was the original developer. Tenants at the property, which was fully leased at the time of sale, include Kohl’s, Michaels, PetSmart, Staples, Famous Footwear, Carter’s and Best Fitness. The buyers plan to make immediate upgrades to the property’s exterior painting, parking lot, landscaping and signage.

January 9, 2025

Leasing Activity New York Northeast Retail

ROUND1 Bowling & Arcade to Open 80,300 SF Entertainment Venue in Queens

by Taylor Williams January 9, 2025

NEW YORK CITY — Round1 Bowling & Arcade, a Japanese entertainment concept, will open an 80,300-square-foot venue in Queens. The space will be situated within the 700,000-square-foot Shops at Skyview development in the borough’s Flushing area and will be the operator’s first location in the city. David Friedman and Andrew Stern of Newmark represented the tenant in the lease negotiations. ShopCore Properties, a subsidiary of Blackstone, owns Shops at Skyview.

January 9, 2025

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