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Latest Atlanta & Southeast Retail Stories
SITE Centers has completed its $8.4-million ($412 per square foot) acquisition of Parkwood Shops, a 20,397-square-foot retail strip center in Atlanta, GA. The 100% occupied property on Powers Ferry Road is anchored by CVS Pharmacy. Bryan Belk and John Tennant of Franklin Street represented the seller, Ronus Properties, in the transaction. “While investors today are …
Atlanta, GA-based Halpern Enterprises, Inc., has expanded its retail portfolio with the $13.4-million acquisition of Inverness Plaza, a 74,719-square-foot shopping center at in Birmingham, AL. The transaction represents Halpern’s fifth property purchase in the last five years, and the company’s first shopping center acquisition in the Birmingham MSA. The company owns and operates more than …
Latest Boston & New England Retail Stories
Boston, MA-based Longpoint Partners has acquired El Paraiso Shopping Center, a Sedano’s-anchored shopping center in Hialeah, FL, for $43.3 million. According to Longpoint, the property presented an off-market opportunity for the company to acquire a strategic asset in a sought after-infill market. The center is 98% occupied, anchored by Sedano’s and includes University Healthcare, Regions …
Boston, MA-based Rockpoint and Ivanhoe Cambridge have sold Mary Brickell Village — a 200,503-square-foot, Publix-anchored mixed-use retail center with an 875-space parking garage in the Brickell district of Miami, FL — for $216 million. Danny Finkle, Chris Angelone, Matthew Lawton, Eric Williams and Kim Flores with JLL represented the sellers in the transaction. New York, …
Latest California Retail Stories
Lewis Retail Centers, a shopping center developer in California and Nevada, has unveiled Town Center at the Preserve, a retail and office neighborhood center in Chino, CA. The development, encompassing 170,000-square-feet is expected to open in the summer of 2023. “This center offers vibrant Main Street retail, including an active street front, mixed-use units and …
Net-Lease specialist JRW Realty has facilitated the $25 million purchase of a net-leased ShopRite in Uniondale, NY. The firm’s Aaron Bush coordinated the transaction for an undisclosed buyer. Prodigy Real Estate represented the seller, First National Realty Partners. “We were thrilled to assist our client with the acquisition of such a high-quality asset in the …
Latest Chicago & Midwest Retail Stories
Lee & Associates Illinois recently negotiated two retail property sales in Chicago’s northwest suburbs. Both deals were handled by principal Rock Scardino. Scardino represented the seller, Abbott Land, in a $1-million sale of a 2.9-acre retail landsite at the Southwind Business Park in Bartlett, IL. Buyer Ricky Patel represented himself. A neighborhood convenience center is planned with a boutique grocery …
Marcus & Millichap closed the sale of a Starbucks-anchored strip center, a 5,222-square-foot retail property in Palos Heights, IL. Terms of the sale weren’t disclosed. First VP Brian Parmacek in Marcus & Millichap’s Chicago Downtown office marketed the property on behalf of the seller, a private investor. The buyer, an out-of-state private investor, was also secured and represented …
Latest Florida & Gulf Coast Retail Stories
The Routh Group has completed the $30.5-million purchase of Louisiana Boardwalk, a 560,343-square-foot, value-add entertainment and shopping development located in the Shreveport submarket of Bossier City, LA. Adam Howells, Ryan Shore Zach Riebe and Matthew Barge and Cole Sutter of JLL represented the seller and procured the buyer. The 2005-constructed property is currently at 67% …
Gridline Properties has represented both the seller and buyer in the $18.2-million sale of Ebb & Flow, a retail strip center in Miami, FL. The property is comprised of two buildings on two lots measuring 32,000 square feet and 81,224 square feet, respectively, and located at 8200 NE 2nd Avenue and 201 NE 82nd St …
Latest Global Retail Stories
Despite the worldwide geopolitical and economic uncertainty, global commercial real estate investment seemed undaunted, growing by 34% year over year in Q1 2022 to US$282 billion. According to a CBRE report, investment increased by 47% in the Americas, 25% in Europe, the Middle East and Africa (EMEA) and 5% in the Asia-Pacific region. Multifamily investments …
Only a few short years after paying $15.7 billion for Westfield Corp, a top U.S. mall operator with properties from coast-to-coast, Europe’s largest mall operator Unibail Rodamco-Westfield, URW, has decided to exit the U.S. market, URW said in a press release detailing a radical restructuring of the company. “Following the completion of its comprehensive deleveraging …
Latest Lenders Retail Stories
Latest National Retail Stories
Economic ups and downs during the past couple of years haven’t been a secret. But the question that keeps arising is how commercial real estate behaves during periods of such volatility. JLL’s recently released “M&A and Strategic Transactions Monitor” focused specifically on what’s driving the REIT market. Though REITs overall are down 20% (in line …
In the midst of economic and market volatility, retail real estate held its own during Q2 2022. Commercial real estate analysts all indicted that inflation is impacting consumer spending, while less supply under development and delivery are supporting single-digit vacancy rates. According to a report issued by Colliers, retail sales increased by 8.9% in June, …
Latest New York & Tri-State Retail Stories
EW Howell Construction Group recently completed expansion and renovation work at two prominent private schools in Manhattan. The builder served as general contractor for constructing a new, 30,000-square-foot home for Harlem Academy at 655 St. Nicholas Ave. and also led the expansion of Village Community School at 272 W. 10th Street. “Harlem Academy was a …
Cushman & Wakefield has arranged the sale of Ramapo Plaza, a 57,963-square-foot retail asset located at 755-797 Hamburg Tpk. in Wayne, NJ. The final sale price was $8,650,000. The team of David Bernhaut, Andy Schwartz, Jordan Sobel, Andre Balthazard, Brian Whitmer and Max Helfman represented the seller, Ramapo Plaza Associates LLC, and procured the buyer, …
Latest Phoenix & Southwest Retail Stories
An undisclosed California-based 1031 exchange investor paid $12.27 million for the Fiesta Mercado Shopping Center. The sales price of the property, at 2930 S. 6th Avenue, comes out to $149 a square foot. The buyer and sellers name were not disclosed. Built in 2000, the property is 94% occupied by a number of tenants including …
JLL Income Property Trust paid $24.4 million for Silverado Square, a 48,000 square foot retail center in Las Vegas, Nevada. The retail property, anchored by Sprouts Farmers Market, also has a CVS. JLL’s Allan Swaringen says the property checks off all the boxes, “Its location next to two major thoroughfares and near a large master-planned …
Latest Seattle & Northwest Retail Stories
Stan Johnson Company has completed the sale of an eight-acre horse ranch located at 27106 Old Owen Road in Monroe, WA. The firm’s Asher Wenig represented the buyer, a Nevada-based private investor in the 1031 exchange sale, and also negotiated a new lease with the tenant. Terms of the deal were not disclosed. “This was …
The second quarter Seattle-area retail report from Kidder Mathews offers an encouraging sign that while supply chain and inflation headwinds continue, the retail sector is slowly bouncing back from the pandemic. Available vacancy space declined in all but one of the five counties and now stands at 2.75%, a 6 basis point drop from Q1. …
Latest Texas Retail Stories
It’s been a much discussed topic since 2016, but Mansfield finally got its H-E-B. The city council recently okayed the zoning for the new store in the community, south of Fort Worth. The newest of H-E-B stores will add to the more than 340 stores in 150 communities throughout the state of Texas, as well as …
Younger Partners Investments (YPI) acquired Crockett Row, a 282,334-square foot “urban village” located at the southeast corner of University Drive and West 7th Street. The development has five blocks of retail and office space. Developed in 2009, Crockett Row is home to museums, restaurants, pubs and entertainment venues including the new Dickies Arena. Some of …
Latest Washington DC Retail Stories
Baltimore, MD-based America’s Realty has leaned on Eastern Union to arrange $73 million in financing on its behalf over the past six months. The company has purchased seven grocery-anchored suburban retail centers, including two in VA: Pinehill Plaza/South Crater Square in Petersburg for $10.6 million and Dukes Plaza in Harrisonburg for $5.8 million. The seven …
Baltimore, MD-based Klein Enterprises has acquired of a portfolio of eight grocery-anchored shopping centers spanning MD and VA, plus one in PA. United Bank provided debt financing for the acquisition. Klein purchased the portfolio from Cedar Realty Trust in conjunction with the broader asset acquisition of Cedar’s grocery-anchored portfolio by a joint venture between DRA …