GALLOWAY, N.J. — Cushman & Wakefield has brokered the $13.7 million sale of Smithville Square, a 106,931-square-foot retail property in Galloway, located in Atlantic County. Anchored by Curexa Pharmacy, the property spans 26 acres and was 97 percent leased to 19 tenants at the time of sale. Frank DiTomasso, Andy Schwartz, Jordan Sobel, Max Helfman, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, P3 Properties, in the transaction. The buyer was Western Building Co.
WARETOWN, N.J. — First National Realty Partners (FNRP) has acquired Waretown Town Center, an 87,735-square-foot shopping center in coastal New Jersey. The sales price was $14.2 million. A 60,800-square-foot ShopRite grocery store anchors the property. Other tenants at the center, which was 96 percent leased at the time of sale, include Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips. Colin Behr and Chris Munley, Ryan Sciullo, Casey Benson Smith, R.J. Mirabile and Michael Pascavis of CBRE represented the seller, Chancellor Development, in the transaction.
HUNTSVILLE, ALA. — CBRE has arranged a $16.5 million loan for the refinancing of Westbury Square, a 117,689-square-foot shopping center in south Huntsville. Richard Henry, Mike Ryan, Brian Linnihan, and Taylor Crowder of CBRE arranged the financing through Delta Community Credit Union on behalf of the borrower, Branch Properties, which acquired the property in March 2018. Situated on 11.5 acres about 10 miles south of downtown Huntsville, Westbury Square was 98.5 percent leased at the time of financing to 20 tenants, including T.J. Maxx, Ross Dress for Less and pOpshelf.
FORT COLLINS, COLO. — Cushman & Wakefield has arranged the sale of Harmony Commons, a neighborhood retail center located at 3541 and 3581 Harmony Road in Fort Collins. Denver-based Urban Village sold the asset to an undisclosed investor for $14 million. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller, while Joshua Guernsey of Waypoint Real Estate represented the buyer in the deal. Built in 2017, Harmony Commons consists of two multi-tenant, single-story retail buildings totaling 25,701 square feet. At the time of sale, the property was 87 percent occupied by eight tenants.
MINNEAPOLIS — Asana Partners has completed The Saxon, a redevelopment project that transformed an existing event center into retail and office space in the North Loop neighborhood of Minneapolis. NELSON Worldwide served as the architect. The development team unified the building’s three sections, each built in different periods, into a cohesive retail and lifestyle destination. The redesign integrates retail spaces on the first and third levels with offices on the second. Solidcore is a retail tenant on the ground floor.
SCHERERVILLE, IND. — Marcus & Millichap has brokered the $4.5 million sale of a 10,582-square-foot restaurant property occupied by Golden Corral in Schererville, a city in northwest Indiana. Built in 2006, the asset is located at 915 Eagle Ridge Drive next to a Home Depot. Sean Sharko, Austin Weisenbeck and Daniel Chumbley of Marcus & Millichap represented the seller, a Chicago-based real estate investment company, and procured the buyer, an out-of-state real estate partnership. Josh Caruana, broker of record in Indiana, assisted in closing the transaction.
MIDDLETON, WIS. — The Kickback Bar, a bar and arcade with over 30 pinball and arcade games, is opening this Friday at Middleton Market Food Hall in the Wisconsin city of Middleton. Cardinal Capital Management Inc. owns the property. The Kickback offers rotating craft beer and seasonal craft cocktails. Food and additional games will be introduced in the coming weeks. Middleton Market continues to expand with food, retail and entertainment options.
RIVERSIDE AND SAN BERNARDINO, CALIF. — PSRS has arranged a $5 million loan for the refinancing of six non-contiguous retail properties, totaling 38,000 square feet in Riverside and San Bernardino counties. The portfolio loan enabled the undisclosed borrower to cash out and restructure high-interest-rate private financing. Michael Warner of PSRS secured the financing, which features five years of interest-only payments, a 30-year amortization and no prepayment penalties. A credit union is providing the capital.
GRANDVILLE, MICH. — Memphis-based developer Poag Development Group has acquired RiverTown Crossings, a 1.3 million-square-foot enclosed shopping mall located in Grandville, a suburb southwest of Grand Rapids. The two-story property featured 114 retailers at the time of sale, including Macy’s, Kohl’s, JCPenney, Celebration Cinemas and Dick’s Sporting Goods. The mall first opened in 1999. Although the seller was not disclosed, Brookfield Property Partners assumed ownership of the mall in 2018 as part of its $15 billion acquisition of giant shopping mall operator GGP Inc. The price was not disclosed. According to local news outlets including WGRD 97.9, a buyer — Jonathon Bryant —purchased a vacant former Younker’s space at the mall in 2022 for $2 million. In 2024, trampoline entertainment concept Soar N Bounce signed a 10-year lease to occupy a portion of the 75,000-square-foot space. Poag plans to “revitalize the mall through redevelopment” and will add new uses, as well as reposition “underutilized parking fields.” JLL will work with Poag to manage and lease the property. “This property has so much potential for redevelopment given its great location,” says Josh Poag, CEO of Poag Development Group. “We are energized about the opportunity to deploy our redevelopment expertise to reimagine the property.” …
CITY OF INDUSTRY, CALIF. — A joint venture between RCB Equities and Real Estate Development Associates (REDA) has received a $115 million loan for the acquisition of Puente Hills Mall in City of Industry. Located at 1600 S. Azusa Ave., the 56.4-acre Puente Hills Mall is a redevelopment opportunity. The buyers plan to work closely with the City of Industry to formulate a redevelopment plan for the property. Mark Wintner of JLL Capital Markets Debt Advisory obtained the non-recourse, three-year, floating-rate loan through Hankey Capital on behalf of the borrower.