JACKSONVILLE, FLA. — Colliers International has arranged the $12.7 million sale of San Jose Plaza, a 95,433-square-foot shopping center in Jacksonville. Scott Rogers of Colliers arranged the transaction on behalf of the buyer, SJP Jax LLC, which acquired the asset from Shanri Holdings Corp. Bonefish Grill anchors the center, which was 75 percent leased at the time of sale to 30 tenants. A second anchor tenant, Aldi, will open this summer.
LA VERNE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of La Verne Courtyard, an 84,368-square-foot shopping center in La Verne, located 30 miles east of Los Angeles. The sales price was not disclosed, but The Real Deal reports Evan & MC LLC acquired the asset from Charles Co. for $20.7 million. Ed Hanley, Bill Asher and Kevin Fryman of Hanley arranged the transaction on behalf of the seller, while Wendy Wong and Katherine Quach of Treelane Realty Group represented the buyer. La Verne Courtyard was 97 percent leased at the time of sale to tenants such as Aldi, Orchard Supply Hardware, Jersey Mike’s Subs, Pacific Dental, OneMain Financial, Pizza Hut and Rubio’s.
PHILADELPHIA — Kimco Realty’s Lincoln Square mixed-use project currently under development will be the site of Philadelphia’s first Sprouts Farmers Market. The 32,000-square-foot store is part of the adaptive reuse of Lincoln Square’s historic train station and will incorporate the Gothic Revival elements of the property. Work on the redevelopment project at the corner of South Broad Street and Washington Avenue, began in late 2016. Sprouts is one of the fastest growing grocers in the United States and has opened 30 stores in 2018. Other retail tenants that have signed on to the development include Target, PetSmart, Starbucks and Sprint. The project will also include 322 residential units. Residential move-ins are planned to begin this summer, with Sprouts set to open in the third quarter of 2018.
FARMINGTON, CONN. — New England Retail Properties has brokered the sale of the Tractor Supply store located at 361 Scott Swamp Road in Farmington for $3.6 million. New England Retail Properties arranged the transaction between the seller, AEI Property Corp., and the buyer, 361 Scott Swamp Road LLC. The property, a former Frank’s Nursery & Crafts, was acquired in 2010 and opened in 2011 as a Tractor Supply store after a retrofit of the building and grounds. The property, which is nine miles west of Hartford, serves the Farmington, Burlington, Plainville and surrounding markets. Founded in 1939, Tractor Supply has more than 1,700 stores in 49 states.
IRVING, TEXAS — HFF has negotiated the sale of Shops at MacArthur Hills, a 75,387-square-foot retail center located within the 12,000-acre Las Colinas district in Irving. Anchored by Whole Foods Market, the property was fully leased at the time of sale to tenants such as Zoës Kitchen, Fidelity Investments, Pure Barre and Sprint. Ryan Shore, Barry Brown, Jim Batjer and Aaron Johnson of HFF represented the seller, Dallas-based investment Leon Capital Group, in the transaction. New York-based Clarion Partners LLC purchased the asset free and clear of existing debt. The sales price was not disclosed.
ST. LOUIS — Confluent Development and Draper and Kramer Inc. are planning to redevelop the former Southwest Bank property in the Reber Place Historic District of St. Louis. Upon completion, the project will be home to a 4,200-square-foot BMO Harris Bank, a 10,000-square-foot Walgreens and a 2,700-square-foot space for an additional retailer. Completion is slated for spring 2019. Rosemann & Associates is serving as the project architect.
TAMPA, FLA. — Whole Foods Market has unveiled plans to open a 48,000-square-foot location at Midtown Tampa, a planned mixed-use project in Tampa. New York-based Bromley Cos. is developing the project, which will feature more than 200,000 square feet of retail, restaurant, entertainment and outdoor space; 750,000 square feet of office space; 400 multifamily units and two boutique hotels. Whole Foods will relocate from its current 32,000-square-foot Tampa location upon opening at the development in fall 2020. The new store will employ approximately 200 full- and part-time members.
ALLENTOWN, PA. — HFF has arranged the $3 million sale of a 10,000-square-foot, single-tenant retail building leased to CVS Pharmacy in Allentown. HFF represented the undisclosed seller in the transaction. The buyer was Grove City Property. Located at 1802 Lehigh St., the CVS Pharmacy sees traffic counts of more than 15,000 vehicles per day and is less than a mile from I-78. The building was built in 1996 and is leased to CVS Pharmacy through December 2037.
MILWAUKEE — CBL Properties has unveiled plans for the redevelopment of the former Sears building at Brookfield Square in Brookfield, a suburb of Milwaukee. The first phase of the redevelopment calls for new dining and entertainment options that will include WhirlyBall and BistroPlex from Marcus Theatres. Construction is expected to begin this month with planning underway for additional phases of redevelopment. WhirlyBall will include indoor entertainment paired with a chef-inspired menu and rotating craft beers and seasonal cocktails. The two-story venue will feature two WhirlyBall courts, eight bowling lanes, a four-lane VIP bowling suite and a multi-level LaserTag arena. BistroPlex will feature in-theater dining with recliner seating and a full-service bar and lounge area.
BOYNTON BEACH, FLA. — Charlotte-based FCA Partners has sold Shoppes of Boynton, a 151,000-square-foot shopping center in the South Florida city of Boynton Beach, for $27.8 million. Dennis Carson and Casey Rosen of CBRE arranged the transaction on behalf of FCA. Northbridge Investment Management acquired the property on behalf of an institutional client. Shoppes of Boynton is home to tenants such as Ross Dress for Less, Dollar Tree, Tuesday Morning, Ale House, Chili’s, FedEx Office, MD Now and Pollo Tropical. The center was 87 percent leased at the time of sale.
