UNION CITY, GA. — Greg Maloney, Kristin Mueller and Ed Seikus of Jones Lang LaSalle have been retained by the new owners of Shannon Mall, Shannon Mall Investments, to provide advisory services on the repositioning of the retail property in Union City. Jones Lang LaSalle is responsible for the strategic oversight of repositioning the mall, including identifying a new name; identifying and retaining new merchants, entertainment venues and restaurants; and collaborating with Union City officials in creating a new town center.
Retail
WATERLOO, ILL. — Swansea, Ill.-based Holland Construction Services has completed construction of Waterloo Commons, a 67,000-square-foot retail center located in Waterloo. The $7.9 million project comprises a 58,000-square-foot Schnucks grocery store, as well as 9,000 square feet of retail space, which is occupied by Harrison Telephone Communications, Lily’s Nail Spa, Custom Cuts and Wilson’s Corner Grill & Pub. The project was designed by St. Louis-based Kuhlmann Design Group. The DESCO Group, the owner and developer of Waterloo Commons, also has selected Holland to construct a 63,000-square-foot grocery store in Evansville, Ind.
WATERLOO, ILL. — Swansea, Ill.-based Holland Construction Services has completed construction of Waterloo Commons, a 67,000-square-foot retail center located in Waterloo. The $7.9 million project comprises a 58,000-square-foot Schnucks grocery store, as well as 9,000 square feet of retail space, which is occupied by Harrison Telephone Communications, Lily’s Nail Spa, Custom Cuts and Wilson’s Corner Grill & Pub. The project was designed by St. Louis-based Kuhlmann Design Group. The DESCO Group, the owner and developer of Waterloo Commons, also has selected Holland to construct a 63,000-square-foot grocery store in Evansville, Ind.
SOUTH LYON, MICH. — Marcus & Millichap has brokered the sale of Huntington Square Shopping Center, a 57,056-square-foot retail property located at 546-644 N. Lafayette Rd. in South Lyon, for $5 million, representing a 9.28 percent cap rate. Bill O’Connor and DeVon Jackson of Marcus & Millichap’s Detroit office represented the undisclosed seller. The property was acquired by undisclosed local investors.
SOUTH LYON, MICH. — Marcus & Millichap has brokered the sale of Huntington Square Shopping Center, a 57,056-square-foot retail property located at 546-644 N. Lafayette Rd. in South Lyon, for $5 million, representing a 9.28 percent cap rate. Bill O’Connor and DeVon Jackson of Marcus & Millichap’s Detroit office represented the undisclosed seller. The property was acquired by undisclosed local investors.
IRVING, TEXAS — Henry S. Miller Co. has finalized the purchase of a Tom Thumb store located at the Towne North Shopping Center in Irving. The 55,359-square-foot grocery store, which is located at the intersection of Beltline and Northgate roads, was the only portion of the center that Henry S. Miller Co. did not own. The store was purchased from EIGFW Irving LLC and increases the company’s total space owned at Towne North Shopping Center to approximately 123,606 square feet. Greg Miller represented his company, Henry S. Miller Co., in the transaction.
DOUGLASVILLE, GA. — New Haven, Conn.-based Block & Kahan Properties has acquired Douglasville Crossing, a 267,800-square foot shopping center in Douglasville, from Atlanta-based RCG Ventures, for $7.3 million. The property is located at 5983 Stewart Pkwy. Tim Giambrone of Marcus & Millichap’s Atlanta office represented the seller in the transaction, and the buyer was represented in-house.
DOUGLASVILLE, GA. — New Haven, Conn.-based Block & Kahan Properties has acquired Douglasville Crossing, a 267,800-square foot shopping center in Douglasville, from Atlanta-based RCG Ventures, for $7.3 million. The property is located at 5983 Stewart Pkwy. Tim Giambrone of Marcus & Millichap’s Atlanta office represented the seller in the transaction, and the buyer was represented in-house.
SUMTER, S.C. — Spartanburg, S.C.-based Hammond Development is building Sumter Town Centre, a $3 million, 8,000-square-foot retail center in Sumter. Tenants include Firehouse Subs and Bruster’s ice cream shop. The center is situated on 1.4 acres at 1293 Broad St. Construction began in March, and the project is scheduled to deliver in July.
MADISON, WIS. — Steve Doran of the Madison office of Lee & Associates has represented the buyer in the $6.7 million acquisition of East Prairie Commons, a 48,815-square-foot shopping center located at 4271-4275 Lien Rd. in Madison. Tenants at the property include Target, Ashley Furniture, Bed Bath & Beyond and Michaels. Shawnee Mission, Kan.-based Rubenstein Real Estate represented the seller.