Retail

Katz & Associates Arranges $10.6M Sale of Former HHGregg Store in Boca Raton, Florida

by John Nelson July 7, 2022

BOCA RATON, FLA. — Katz & Associates has arranged the $10.6 million sale of a former hhgregg store located at 20841 S. State Road 7 in Boca Raton. CIRE Equity, a commercial real estate investor with offices in Southern California and Phoenix, purchased the 41,250-square-foot store from an entity doing business as Pan York Glades LLC. Jon Cashion and Daniel Solomon of Katz & Associates represented the seller in the transaction. EoS Fitness, a retail fitness concept based in Phoenix, will backfill the store, which is situated adjacent to a Burlington and PetSmart.

July 7, 2022

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Lalani Ventures Inks Deal to Move Atlanta Brewing Co. to Underground Atlanta

by John Nelson July 7, 2022

ATLANTA — Lalani Ventures has signed Atlanta Brewing Co., a pioneer of the craft beer movement in the Southeast, to relocate from Atlanta’s West Midtown district to Underground Atlanta, a historic mixed-use redevelopment underway in south downtown Atlanta. The brewer was founded in 1993 with its first location off Williams Street in Midtown, before moving to its current location in 2007. The brewer will relocate again to Underground Atlanta and operate a new indoor/outdoor taproom, brewery and restaurant along Upper Alabama Street. The 8,600-square-foot location, which was once the Atlanta Visitors Center, is set to open before the end of the year and will feature a rotation of guest chefs, ping pong tables, a canning operation and roll-up garage doors. Additionally, the taproom will offer 20 beer selections and self-pouring taps throughout the space. Lalani Ventures has previously secured leases at Underground Atlanta with Fulton County’s Public Arts Future Lab, an artist residency funded by Microsoft; MARTA Artbound, MARTA’s public art program; Arts & Entertainment Atlanta; YELLE Beauty, a black woman-owned and operated beauty concept by Yandy Smith-Harris; Dancing Crepes, a new dining concept also by Smith-Harris; dolo’s pizza company, a pizza concept by Alyson Williams and Yusef Walker; and …

July 7, 2022

Acquisitions Retail Texas

JLL Negotiates Sale of 559,457 SF Glade Parks Town Center in Euless, Texas

by Taylor Williams July 7, 2022

EULESS, TEXAS — JLL has negotiated the sale of Glade Parks Town Center, a 559,457-square-foot retail power center located in the eastern Dallas suburb of Euless. Built in phases between 2014 and 2018, the property houses tenants such as Dick’s Sporting Goods, Total Wine & More, Cinepolis, Ulta Beauty, Belk, Michael’s, HomeGoods, EoS Fitness, First Watch, Hopdoddy, Daiso, Old Navy, Burlington, DSW and Massage Envy. Barry Brown, Chris Gerard, Ryan Shore, Greyson Fewin and Matthew Barge of JLL represented the seller, a joint venture led by Iron Point Partners, an investment firm with offices in Dallas and Washington, D.C., in the transaction. Charlotte-based Big V Property Group acquired the asset for an undisclosed price.

July 7, 2022

Acquisitions California Retail Western

Madison Marquette Sells 42-Acre Bayfair Center Regional Mall in San Leandro, California

by Amy Works July 7, 2022

SAN LEANDRO, CALIF. — An affiliate of Madison Marquette has completed the sale of Bayfair Center, a 42-acre regional mall at a BART subway station in San Leandro. B3 and GAW Capital Partners acquired the property for an undisclosed price. Located at 15555 E. 14th St., Bayfair Center was 91 percent leased at the time of sale. Current tenants include Target, Century Theaters, Macy’s, Kohl’s, Bed Bath & Beyond, Ulta Beauty, Old Navy, 24 Hour Fitness and PetSmart. The property includes one main mall building and five outparcel buildings with a total of 816,771 leaseable square feet. The asset offers the ability to redevelop a large portion of the site into a life sciences and mixed-use campus. Nicholas Bicardo, Steven Golubchik, Jonathan Schaefler, Darren Hollak and Cheyne Bloch of Newmark represented the seller in the transaction.

July 7, 2022

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Brokers $84.2M Sale of Three Metro Boston Shopping Centers

by Taylor Williams July 7, 2022

ABINGTON, KINGSTON AND ORLEANS, MASS. — Boston-based Atlantic Capital Partners, a division of Atlantic Retail, has arranged the $84.2 million sale of three shopping centers located on the southern outskirts of the state capital. The properties in Abington, Kingston and Orleans are all anchored by grocers and were collectively 97 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

July 7, 2022

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $2.9M Sale of MedMen-Leased Store in Pensacola, Florida

by John Nelson July 6, 2022

PENSACOLA, FLA. — Marcus & Millichap has brokered the $2.9 million sale of a store located at 5048 Bayou Blvd. in Pensacola leased to MedMen, a national medical marijuana retailer. The single-tenant, triple-net-leased property in Northwest Florida opened in 2019 and was the fifth medical marijuana dispensary in Escambia County at the time. The MedMen store is an outparcel to Cordova Mall, which is within walking distance of Pensacola State College. Barry Wolfe and Alan Lipsky of Marcus & Millichap’s Wolfe-Lipsky team, which has brokered the sale of 22 medical marijuana dispensaries in the past 18 months, represented the seller in the transaction. The buyer was not disclosed.

July 6, 2022

Acquisitions New York Northeast Retail

Marcus & Millichap Brokers Sale of 250,193 SF Shopping Center in Syracuse

by Taylor Williams July 6, 2022

SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of Western Lights Shopping Center, a 250,193-square-foot retail property in Syracuse, for $18.2 million. Tenants at the center include Price Chopper, Valu Home Center, Dollar Tree, Rainbow Shops, Mavis Discount Tire, Supercuts and Subway. Joseph French Jr., Kodi Traver and Thomas Dalzell of Marcus & Millichap represented the seller, a private investor, in the transaction. The team also secured the buyer.

July 6, 2022

Acquisitions Connecticut Northeast Retail

Vidal/Wettenstein Arranges $8.2M Sale of Spinelli Plaza Shopping Center in Stratford, Connecticut

by Taylor Williams July 6, 2022

STRATFORD, CONN. — Locally based brokerage firm Vidal/Wettenstein has arranged the $8.2 million sale of Spinelli Plaza, a 58,200-square-foot shopping center in Stratford, located in southern Connecticut’s Fairfield County. Tenants at Spinelli Plaza include Chase Bank, Family Dollar and Starbucks. The Spinelli Family sold the center to an undisclosed 1031 exchange buyer. Bruce Wettenstein of Vidal/Wettenstein brokered the deal.

July 6, 2022

Leasing Activity Midwest Ohio Retail

Eidi Properties Achieves Full Occupancy at Crossroads Centre Shopping Center in Ohio

by Kristin Harlow July 6, 2022

ROSSFORD, OHIO — Eidi Properties has completed the lease-up of Crossroads Centre in Rossford, just south of Toledo. Ashley Furniture will occupy the remaining 42,305 square feet. Big Lots opened a 37,716-square-foot store in February. Eidi acquired the 470,225-square-foot shopping center in December 2018 when it was 77 percent occupied. The property is situated next to an Amazon distribution center.

July 6, 2022

Acquisitions Midwest Retail Wisconsin

Marcus & Millichap Arranges $6M Sale of Retail Center in Hales Corners, Wisconsin

by Kristin Harlow July 6, 2022

HALES CORNERS, WIS. — Marcus & Millichap has arranged the $6 million sale of a 37,219-square-foot retail center in Hales Corners, about 14 miles southwest of Milwaukee. Dollar Tree and Health Hut anchor the fully leased property, which is located at 5602 S. 108th St. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a developer. The team also procured the buyer, a private investor that completed a 1031 exchange. The property sold at the full asking price.

July 6, 2022

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