PEORIA, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a retail strip center in Peoria for $4.4 million. Aspen Dental and Vitamin Shoppe anchor the property, which is located at 5116 N. Big Hollow Road. Zack Hilgendorf of Quantum represented the seller, a Miami-based developer that originally built the center in 2010. The property sold to a Chicago-based buyer.
SNELLVILLE, GA. — Stan Johnson Co. has brokered the $97 million sale of The Shoppes at Webb Gin, an open-air shopping center in the Atlanta suburb of Snellville. Baltimore-based Continental Realty Corp. (CRC) purchased the 330,000-square-foot center, which was originally branded The Avenue Webb Gin when it was delivered in 2006 by Atlanta-based Cousins Properties. Margaret Caldwell and Patrick Kelley of Stan Johnson Co. represented the seller, New York City-based Olshan Properties, in the transaction. Sprouts Farmers Market, Barnes & Noble and DSW anchor the center, which offers 70 units across eight buildings. The property was 89 percent leased at the time of sale to tenants including H&M, LensCrafters, Kirkland’s, Victoria’s Secret, American Eagle, LOFT, Chili’s Grill & Bar and Sephora. The center is situated on 48 acres, which includes available land for additional development along with a build-to-suit outparcel.
SLIDELL, LA. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of Village at Northshore, a 114,638-square-foot shopping center in Slidell, about 40 miles north of downtown New Orleans. Woodmont Acquisitions LLC purchased the asset from an affiliate of Atlanta-based RCG Ventures for $12.4 million. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. The buyer was self-represented. Spanning nearly 13 acres, Village at Northshore was built in 1988 and renovated in 2020. The majority of the property’s tenants are national retailers, including Marshalls, JoAnn, Dollar Tree, Boot Barn and Ollie’s Bargain Outlet.
SAN ANTONIO — NAI Partners has arranged the sale of a 38,283-square-foot bowling alley located at 3239 Harry Wurzbach Road in San Antonio. Astro SuperBowl operates the facility. Joshua Murphy and Ross Anderson of NAI Partners represented the seller, an entity doing business as A & E Sports LLC, in the transaction. Jorstep Inc. represented the undisclosed buyer.
BROOKFIELD, WIS. — Mid-America Real Estate Corp. has brokered the sale of Brookfield Marketplace in suburban Milwaukee for an undisclosed price. The 90,374-square-foot shopping center is home to Pick ’n Save, Panera Bread, First Midwest Bank, U.S. Cellular, Allstate and Sylvan Learning. Rick Drogosz and Dan Rosenfeld of Mid-America represented the sellers, General Capital Group and Thompson Cos. Jack Stead of Northstar REIS represented the buyer, Grocery Management Partners LLC.
CHICAGO — Blue Bottle Coffee has signed a long-term lease to open a 1,188-square-foot retail space at The Shops at Tribune Tower in Chicago. Founded in 2002, Blue Bottle Coffee is a coffee roaster and retailer with more than 60 cafes globally. The Shops at Tribune Tower location will be Blue Bottle’s second in the Chicago area. The shop is expected to open in early 2023. Blue Bottle’s location is directly adjacent to the newly opened Foxtrot Market and the upcoming Museum of Ice Cream, which is scheduled to open July 16. The Shops at Tribune Tower consists of 50,000 square feet of retail space that anchors the ground floor of the 36-story, 740,000-square-foot Tribune Tower, which has been transformed into 162 luxury condominiums. CIM Group owns the property.
BRANSON, MO. — Outside the Lines (OTL), a design-build construction company that specializes in water features, fountains, rockwork and themed environments, has completed a water-effects show fountain at Branson Boardwalk in Missouri. The water feature is in a cascading lake situated adjacent to the Aquarium at the Boardwalk, the first attraction developed at the entertainment complex that opened in fall 2020. The fountain plays two fully choreographed shows every half hour from 8 a.m. to 10:30 p.m. seven days a week. Branson Boardwalk is a dining, shopping and entertainment destination that is opening in phases.
SEATTLE — Cushman & Wakefield has procured a $193 million development funding package on behalf of Seattle-based Security Properties. The package includes a $65.2 million joint venture equity investment with MetLife Investment Management and $115.3 million in construction financing from Bank OZK for The Confidential, a 29-story, 212-unit, 374,000-square-foot mixed-use building being developed in the Belltown submarket Located at 2315 Fourth Ave., at the corner of Bell Street, The Confidential will feature 212 apartments, 17,500 square feet of office space, 8,000 square feet of ground-floor retail space and 243 parking spaces. Planned community amenities include a fitness center, lounge and theater. Currently under construction, The Confidential is expected to open in 2024. Design of The Confidential is being provided by VIA Architecture. Communita Atelier is the landscape architect and Exxel Pacific is the general contractor.
KERMAN, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly completed, single-tenant retail property located at 14868 W. Whitesbridge Ave. in the Fresno County city of Kerman. A local private investment firm sold the asset to a San Mateo County.-based private investor for $6.4 million. Grocery Outlet occupies the 16,000-square-foot building on a net-lease basis. Based in Emeryville, Grocery Outlet has more than 420 stores in California, Washington, Oregon, Pennsylvania, Idaho, Nevada and New Jersey. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Nigel Keep of Kidder Mathews’ office in Silicon Valley, Calif., represented the buyer in the transaction.
OAK BROOK, ILL. — JLL’s Capital Markets group has arranged the $278 million sale of an eight-property, grocery-anchored retail portfolio. The buyer was Inland Real Estate Income Trust Inc. The properties were 88.5 percent leased at the time of sale to tenants including Ralphs, Target, Whole Foods Market, Giant, Trader Joe’s, Sprouts Farmers Market, Nordstrom Rack, Starbucks Coffee, Rite Aid and Sierra Trading Post. The properties span 687,000 square feet and include: Olde Ivy Village, located outside of Atlanta at 4330 East-West Connector in Smyrna, Ga.; Denton Village, located at 4930 Teasley Lane in the Dallas suburb of Denton, Texas; Northpark Square Village, located at 27706-27776 McBean Parkway in the metro Los Angeles community of Valencia, Calif.; Northville Park Place, located at 18771-39869 Traditions Drive in Northville, Mich., outside of Detroit; City Place, located eight miles east of Saint Paul at 205 Radio Drive in Woodbury, Minn.; Rusty Leaf Plaza, located at 2512-2560 E. Chapman Ave. in Orange, Calif.; Lower Makefield Shopping Center, located at 700 Stony Hill Road in Yardley, Pa., outside Philadelphia; and New Town Village, located at 9700 Groffs Mill Drive in the metro Washington, D.C., community of Owings Mills, Md. Bill Moylan, Chris Angelone, Barry Brown, …
