GARLAND, TEXAS — Northmarq has arranged an $11.5 million acquisition loan for North Garland Crossing, a 75,811-square-foot shopping center in the northeastern Dallas suburb of Garland. Shadow-anchored by a Super Target, the center was built in 2004 and houses tenants such as Michaels, PetSmart, AT&T and Starbucks. David Garfinkel and Ron Reese of Northmarq arranged the debt on behalf of the buyer, St. Louis-based Bianco Properties. Mutual of Omaha provided the loan.
CHAPPAQUA, N.Y. — CBRE has negotiated the $79.5 million sale of Chappaqua Crossing, a 120,986-square-foot shopping center located in New York’s Westchester County that is part of the redevelopment of the 114-acre former Reader’s Digest headquarters campus. Tenants at the newly built center include anchors Whole Foods Market and Life Time Fitness, as well as Starbucks and Chase Bank. Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer and Travis Langer of CBRE represented the seller, a joint venture between global investment advisor Summit Development and The Grossman Cos., in the transaction. The team procured an undisclosed investment management firm as the buyer.
BRAINTREE, MASS. — The Sterling Organization, a Florida-based investment firm, has acquired Stop & Shop Plaza, a 173,798-square-foot retail property located on an 18.7-acre site in the southern Boston suburb of Braintree, for $44.3 million. Grocer Stop & Shop anchors the property, which also houses tenants such as CVS Pharmacy, Town Fair Tire, The Paper Store and Crunch Fitness. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction.
GLOUCESTER, MASS. — Marcus & Millichap has brokered the $13.4 million sale of Cape Ann Marketplace, a 102,977-square-foot shopping center in the coastal Massachusetts city of Gloucester. Grocer Shaw’s serves as the center’s anchor tenant. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller and sourced the buyer, both of which requested anonymity, in the transaction.
MIAMI — Four new dining concepts and retailers are opening at CocoWalk, a 150,000-square-foot, mixed-use project in Miami’s Coconut Grove district. The project is led by an ownership group including Federal Realty Investment Trust, The Comras Co. and Grass River Property. David Grutman’s Groot Hospitality will open The Key Club, a restaurant, at CocoWalk. Additionally, Ariete Hospitality Group will also open a new restaurant at CocoWalk this year. Narbona Natural Food & Farm Market is set to open this spring in an 8,253-square-foot space. This market location will become Narbona’s second location to open in South Florida. Lastly, Cinépolis, a movie theater concept, is scheduled to open this year. The new retailers and restaurants join a tenant line-up including Planta Queen, Mister 01 Extraordinary Pizza, Sweetgreen and Salt & Straw, as well as Bluemercury, Edward Beiner, The Spot Barbershop and School of Rock. In August of last year, the owners of CocoWalk announced other planned tenants including GlossLab, a membership-based nail studio; Infinity, a fitness studio; Skin Lab by Barba Skin Clinic; and 3D Brow Studio, a beauty bar specializing in curating eyebrows.
ATLANTA — Locally based Branch Properties has signed leases for two new tenants to join Peachtree Battle Shopping Center, a 168,000-square-foot, grocery-anchored center in the Buckhead neighborhood of Atlanta. Located off Peachtree Road, Peachtree Battle Shopping Center features over 50 tenants, including a 32,836-square-foot Publix, Walgreens, Ace Hardware and Baskin-Robbins. The new tenants include Roshambo and Cava. Roshambo, a new concept from local restaurant group Unsukay, will open at the center in a 4,000-square-foot space. The restaurant is set to open this summer. Cava, a Mediterranean fast-casual restaurant chain, will occupy a 2,300-square-foot space at the center. The Mediterranean restaurant is expected to open this month.
DETROIT — Sugar Factory American Brasserie is set to open in downtown Detroit late this spring. The First Michigan location for the brand will be located at 45 Monroe St. within Bedrock’s One Campus Martius building. The 233-seat restaurant will also feature Sugar Factory’s candy store. The main dining area will offer both indoor and outdoor seating, along with décor including neon signs, floral walls and a candy heart wall. Sugar Factory serves breakfast, lunch and dinner. Its most legendary dessert is the King Kong Sundae, which serves up to 12 people and features 24 scoops of ice cream.
PHOENIX AND MENIFEE, CALIF. — Upland-based 1st Commercial Property Management has been selected to operate two retail centers in Arizona and California. The company will provide management services for Arcadia Crossing Shopping Center, which features more than 450,000 square feet of retail space. Fry’s Food and Drug, Ross Dress for Less, Target, Petco, Burlington and Conn’s Home Plus are tenants at the property. A private foreign owner has selected 1st Commercial to provide property management services for Countryside Marketplace in Menifee. Built in 2008 on 32 acres, the 721,000-square-foot property is fully leased. Current tenants include Super Target, Lowe’s Home Improvement Warehouse, Kohl’s, Best Buy, T.J. Maxx, HomeGoods, Michaels, Burlington, Staples, Petco and Boot Barn.
TOLEDO, OHIO — Stan Johnson Co. has brokered the sale of a Home Depot ground lease in Toledo for $12 million. The 141,610-square-foot retail property is located at 1035 W. Alexis Road. Chad Byerly of Stan Johnson represented the seller, a local developer. The California-based buyer completed a 1031 exchange.
TUCSON, ARIZ. — ORION Investment Real Estate has arranged the sale of a retail building located at the northeast corner of Swan and Grant roads in Tucson. Vans Tucson Golf Properties sold the asset to PALZ Properties for $2.7 million, or $228 per square foot. The asset features 12,049 square feet of multi-tenant retail space. Nick Miner of ORION represented the seller, while Robert Nolan of Oxford Realty Advisors represented the buyer in the deal.