Retail

RK Centers Acquires 415,404 SF Retail Power Center in Attleboro, Massachusetts

by Taylor Williams October 2, 2023

ATTLEBORO, MASS. — RK Centers, an owner-operator with offices in New England and South Florida, has acquired Bristol Place, a 415,404-square-foot retail power center located south of Boston in Attleboro. The center sits on a 45.5-acre site along State Route 1A and is home to tenants such as grocer Market Basket, Home Depot, T.J. Maxx, Burlington, Hobby Lobby, Edge Fitness, Bob’s Discount Furniture and Party City. Nat Heald of CBRE represented the seller, an affiliate of Unison Realty Partners, in the transaction. RK Centers will rebrand the property, which was 96 percent leased at the time of sale, as RK Bristol Place.

October 2, 2023

California Development Mixed-Use Multifamily Office Retail Western

Carmel Properties Plans 1 MSF Forge at Alloy Mixed-Use Project in Los Angeles

by Amy Works September 29, 2023

LOS ANGELES — Carmel Properties has announced plans for Forge at Alloy, a 1 million-square-foot mixed-use property at 530 Mateo St. in Los Angeles’ Art District. The developer has retained Mike Condon Jr., Brittany Winn, McKenna Gaskill, Pete Collins and Steven Marcussen of Cushman & Wakefield to lead leasing effort for the project, which is slated for completion in third-quarter 2024. Forge at Alloy will consist of a six-story, Class A building featuring 127,456 square feet of creative office space and 18,000 square feet of ground-floor retail space, outdoor space with seating and lounge areas, a rooftop deck and three levels of parking. The second building will be a 35-story, 475-unit residential tower. The office and residential components will be connected via a pedestrian and retail paseo, formerly a rail spur, between Mateo Street and Santa Fe Avenue. The paseo will house year-round activities and attractions, including public art installations, outdoor concerts, movies and other special events.

September 29, 2023

Acquisitions Colorado Loans Retail Western

Essex Financial Secures $13M Acquisition Loan for Summer Valley Shopping Center in Aurora, Colorado

by Amy Works September 29, 2023

AURORA, COLO. — Essex Financial Group has arranged $13 million in financing for the acquisition of Summer Valley Shopping Center in Aurora. Blaire Butler and Matt Perigard of Essex’s Capital Markets team secured the 10-year, fixed-rate loan for the undisclosed buyer. At the time of financing, the Summer Valley Shopping Center was 99 percent leased to 18 retailers. Current tenants include VASA Fitness and Dollar Tree.

September 29, 2023

Acquisitions Florida Retail Southeast

Bucksbaum Buys 111,000 SF Plaza La Mer Shopping Center in Juno Beach, Florida

by Hayden Spiess September 29, 2023

JUNO BEACH, FLA.— Bucksbaum Properties has acquired Plaza La Mer, a 111,000-square-foot shopping center in the coastal South Florida town of Juno Beach. Built in 1988, the property comprises five buildings on 10 acres. Tenants at the center include Dunkin, Trustco Bank and Loggerhead Fitness. The seller and sales price were not disclosed.

September 29, 2023

Acquisitions Florida Net Lease Retail Southeast

Marcus & Millichap Arranges $38M Sale of Topgolf-Occupied Property in Fort Myers, Florida

by Hayden Spiess September 29, 2023

FORT MYERS, FLA. — Marcus & Millichap has arranged the $38 million sale of a retail and entertainment property located in Fort Myers. Topgolf occupies the asset, which totals 48,000 square feet, on a triple-net-lease basis. Constructed in 2021, the property is situated on 14 acres off of Interstate 75. Ronnie Issenberg, Gabriel Britti and Ricardo Esteves of Marcus & Millichap arranged the transaction on behalf of the seller, a Miami-based family office. The buyer was not disclosed.

September 29, 2023

Acquisitions North Carolina Retail Southeast

Legacy Brokers $4.8M Sale of Spring Hope Commons Retail Center in North Carolina

by Hayden Spiess September 29, 2023

SPRING HOPE, N.C. — Legacy Realty Group Advisors has brokered the $4.8 million sale of Spring Hope Commons, a retail center located in Spring Hope, approximately 35 miles northeast of Raleigh. Food Lion anchors the 47,950-square-foot property. Jacob Baruch and Daniel Baruch of Legacy represented the buyer and seller, neither of which were disclosed, in the transaction.

September 29, 2023

Indiana Leasing Activity Midwest Restaurant Retail

Theo’s Italian to Open at The Shops at Perry Crossing in Plainfield, Indiana

by Kristin Harlow September 29, 2023

PLAINFIELD, IND. — Theo’s Italian, a new pizza and pasta restaurant concept by local Indianapolis-based restaurant operator Cunningham Restaurant Group, is slated to open in October at The Shops at Perry Crossing in Plainfield. Theo’s Italian serves pasta, salads, appetizers, sandwiches and a wide variety of Roman Style Pinsa, a lighter healthier version of Italian pizza. The 6,118-square-foot restaurant will feature patio seating outdoor, a full bar and private dining. Cunningham Restaurant Group also operates Bru Burger Bar, Stone Creek Dining Co. and a 7,500-square-foot event center at The Shops at Perry Crossing, an outdoor lifestyle center managed by JLL that features more than 60 retail, restaurant and service brands.

September 29, 2023

Development New Jersey Northeast Retail Top Stories

SJC Ventures Breaks Ground on 54-Acre Mixed-Use Development in Montgomery Township, New Jersey

by Jeff Shaw September 29, 2023

MONTGOMERY TOWNSHIP, N.J. — SJC Ventures, a privately held commercial real estate and retail development firm based out of Atlanta, has broken ground on Montgomery Promenade in the New York City suburb of Montgomery Township. Situated on a 54-acre site on Route 206, Montgomery Promenade will comprise 292,700 square feet and feature palisades for walking, green spaces, outdoor dining and restaurants. According to the Montgomery Township website, the project also includes 34 single-family detached homes that buffer the existing homes on Route 518 and the new shopping center. A Whole Foods Market grocery store will anchor the new development. Other confirmed tenants include an 11,000-square-foot Ulta, Panera Bread, Iron Whale, The Robinson Ale House, Dor L’ Dor NYC, Turning Point Restaurants, More Than Q, European Wax Center, Spavia and Norman’s Hallmark. According to the SJC Ventures, three new retail leases will be announced in the next 60 days, with five more before the end of the year. “We’re thrilled to have two great concepts from the McLoone’s Group with Iron Whale and Robinson Ale House that will take about 15,000 square feet,” says Justin Latone, senior vice president of leasing for SJC Ventures. “Both spaces will front a promenade and patio area immediately adjacent to the roundabout …

September 29, 2023

Acquisitions Retail Texas

SRS Real Estate Arranges $14.6M Sale of Retail Building Leased to Kohl’s in Katy, Texas

by Taylor Williams September 28, 2023

KATY, TEXAS — SRS Real Estate Partners has arranged the $14.6 million sale of a 55,000-square-foot retail building in the western Houston suburb of Katy that is triple-net-leased to Kohl’s. The seller, an undisclosed, institutional development group, is nearing completion of construction of the building, which sits on a 5.2-acre site. The lease term is 12 years. Matthew Mousavi and Patrick Luther of SRS represented the seller and procured the undisclosed out-of-state buyer, which acquired the asset via a 1031 exchange.

September 28, 2023

Development Retail Southeast Virginia

Buc-ee’s to Develop 75,000 SF Super Center in Mt. Crawford, Virginia

by Hayden Spiess September 28, 2023

MT. CRAWFORD, VA. — An entity doing business as Buc-ee’s Mt. Crawford LLC has purchased 21.3 acres located on Frieden’s Church Road in Mt. Crawford for the development of a Buc-ee’s Super Center at the site. Nathan Shor and Larry Agnew represented the buyer in the $6.6 million transaction. Upon completion, the property will feature 75,000 square feet of retail space, as well as 120 fuel pumps, electric vehicle chargers and parking for more than 650 cars. This will mark the second location in the state for the brand. The location matches the Buc-ee’s strategy of opening massive gas stations and retail centers in rural towns along major thruways outside larger metro areas. The site is located along Interstate 81 west of Washington, D.C. and Baltimore.

September 28, 2023

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