As Charlotte’s job growth has returned, so has traffic into Uptown during rush hour, a new apartment project on every corner, healthy single-family demand and a food fight. Currently there is an all-out war for grocery market share between behemoths Harris Teeter, Publix and Walmart Neighborhood Market, all adding stores at a record rate, while Whole Foods Market continues to expand within the market on a measured basis. Newcomers Sprouts Farmers Market and Lidl, a German-based supermarket grocer offering discount items, are set to make market entries between 2016 to 2018, with Food Lion planning to refurbish a number of their stores in the market. Pappas Properties has begun construction on a Harris Teeter at Berewick and Raley Miller in a joint venture with Levine Properties, and has filed a rezoning petition to add another Harris Teeter at the corner of Fairview and Providence. Harris Teeter has recently added a store in Cornelius, as has Publix. Publix has recently opened a new store in the booming South End submarket located along the transit line on South Boulevard and has won zoning approval for a store to be constructed at Cotswold. A grocer is also rumored to be scouting a redevelopment …
SAN MARCOS, TEXAS — Endeavor Real Estate Group has announced plans to invest $27.5 million to revamp Springtown Shopping Center, a retail center with low occupancy along I-35 in San Marcos between Austin and San Antonio. Endeavor purchased the center in November, at which point it was 10.5 percent occupied and split among four separate owners. The developer has signed leases with two anchor tenants. EVO Entertainment Group leased 34,000 square feet to build a dine-in luxury movie theater, bowling alley and event venue called The Spot. Gold’s Gym has leased 42,000 square feet.
SAN DIEGO — NorthMarq Capital has arranged the $30 million refinance of Carmel Mountain Ranch Town Center, a 172,272-square-foot retail property located in San Diego. Michael Dobbins of NorthMarq secured the fully amortizing, 25-year term loan through a life insurance company. Tenants at the center include Trader Joe’s, Ralph’s, Chico’s, Rite Aid, Bank of America and McDonald’s.
PHOENIX — Triumph Properties Group is set to open a new Safeway location and start renovations on Moon Valley Shopping Center in Phoenix. Safeway recently signed a 20-year lease with Triumph Properties, and is investing several million dollars into the renovation and expansion of the entire store façade and interior of its new space. Ownership is also set to renovate the entire center, and to offer two new 5,000-square-foot pads for lease.
ORANGEBURG, S.C. — Wheeler Real Estate Investment Trust (Wheeler REIT) has purchased Grove Park Shopping Center, a 106,557-square-foot shopping center in Orangeburg. The shopping center is located at the interchange of U.S. Route 178 and Route 21 within a two-mile radius of Claflin University and South Carolina State University. The grocery-anchored center was 90 percent leased at the time of sale to tenants such as Bi-LO, AT&T, Kool Smiles and Republic Finance. Virginia Beach, Va.-based Wheeler REIT purchased the property using a combination of cash and debt.
NEW YORK CITY — Kolorbar, an upscale full-service beauty salon, has signed a lease for retail space at 306 E. 86th St. on Manhattan’s Upper East Side. The salon, which operates three additional stores in Manhattan, will occupy 1,500 square feet on the ground floor and 1,200 square feet in the basement of the building. The tenant is currently building out the space, including the installation of marble floors and an all-glass front, with occupancy expected in early November. Matthew Ball of Winick Realty Group represented the tenant, while Patty Holmstrom and Jeeun Elizabeth Kim, also of Winick Realty, represented the landlord, KMR Management, in the transaction.
ORLANDO, FLA. — Colliers International Central Florida has announced that Glickman Retail Group, a retail investment advisory firm in Orlando, has joined the company’s retail services team. Glickman Retail Group completed more than $40 million in real estate sales transactions year-to-date and has numerous more transactions set to close this year. Joining Colliers from the Glickman Retail team are Sean Glickman, Tom Hall, Chris Smith and Brandon Rapone. The team will join Cynthia Shelton and Kane Morris-Webster as part of Colliers International Central Florida’s retail investment team, focusing on the sale of retail investment properties in Central Florida.
SEATTLE — Seattle-based Colliers International has arranged the sale of three Washington retail properties for $59.6 million. Transactions include the sale of Surprise Lake Square, a 134,795-square-foot shopping center located in Milton, to Tourmaline Capital for $19.5 Million; the sale of Everett Village Center, a 120,912-square-foot retail center located in Everett, to Stockbridge Capital Group for $22.5 million; and the sale of Coal Creek Marketplace, a 55,875-square-foot retail center located in Newcastle, to RPAI for $17.6 million.
LAGUNA NIGUEL, CALIF. — New York Life Real Estate Investors (NYL REI) has originated a $35 million mortgage loan for The Center at Rancho Niguel, located at 28281 Crown Valley Parkway in Laguna Niguel. The loan has a 20-year term with an opportunity to borrow additional proceeds in the first 10 years of the loan. The borrower was Buie Stoddard Group, an institutional investor. Tenants at the 120,000-square-foot retail property include Wells Fargo, Ralphs Fresh Fare, Jamba Juice, Loehmann’s Shoes, Thomasville Furniture, NY’s Upper Crust Pizza, El Pollo Loco and Precision Fitness.
SPRING LAKE AND GRAND RAPIDS, MICH. — NAI Wisinksi of West Michigan has brokered two leases totaling 4,552 square feet in Michigan. In the first transaction, Kevin B. Megley leased 1,452 square feet of office space at 723 E. Savidge St. in Spring Lake. Megley is relocating his law office to the space. Jason Makowski and Tim Platt of NAI Wisinski represented both the lessee and lessor in the five-year lease transaction. In the second deal, Craft Retail Inc. leased 3,100 square feet of retail space at 678 Front St. SW in Grand Rapids. The United Kingdom-based company plans to use the space to expand its operations. Mary Anne Wisinski of NAI Wisinski represented the tenant, while Makowski represented the undisclosed landlord in the five-year lease transaction.