Washington Prime Group voluntarily is delisting its stock from the New York Stock Exchange. Its common and preferred stock no longer will publicly trade after the company’s emergence from Chapter 11, expected on or about Sept. 29. The company was formed in May 2014 following a spinoff from Simon, and it acquired Glimcher Realty Trust in January 2015. As of Dec. 31, 2019, the company owned interests in 104 shopping centers containing 56 million square feet of leasable area. It commenced voluntary Chapter 11 proceedings on June 13, 2021, and secured $100 million in debtor-in-possession financing.

14 retail property trades

Spinoso Real Estate Group purchased the 1.4 million-square-foot Shops at Willow Bend in Plano, Texas, from lenders that had repossessed the mall after former owner Starwood Retail Partners defaulted on a loan. Anchors include Dillard’s, Macy’s and Neiman Marcus.

Grosvenor Americas sold Hamilton Marketplace in Novato, California, to an affiliate of Deutsche Bank for $67.5 million. Grosvenor developed the shopping center, which it says is one of the first in North America to use solar energy to power its community space, in 2008. Safeway anchors the 90,769 square-foot center, whose other tenants include Pet Food Express, Super Duper Burgers, Peet’s Coffee, Wells Fargo, Toast Novato restaurant and CycleBar. Newmark Retail Capital Markets represented the seller.

Finmarc Management sold a 76,000-square-foot retail building leased by Giant grocery in Fairfax County, Virginia’s Springfield Plaza to a California-based LLC for $39.75 million. CBRE represented the seller, and Pegasus represented the buyer. Giant has been operating in Springfield Plaza since 1960 and last year relocated from its original space into its current building under a long-term lease.

In an off-market transaction, Principal Financial sold Chesapeake, Virginia’s Kroger-anchored Greenbrier Square, pictured at top, for $36.5 million. Other tenants include HomeGoods, Dick’s Sporting Goods, Field & Stream and Five Below. A 12,000-square-foot space lies empty. The Palomar Group represented the buyer, Armada Hoffler.

The 60,557-square-foot Shoppes at Nona Place in Orlando traded for $35 million. The $578-per-square-foot price is the highest this year in Orlando, according to JLL, which represented the sellers, North American Development Group and Blackfin Partners. The buyer was South Federal Park Associates. Tenants include Bravo grocery, Pet Supermarket, First Watch, Heartland Dental, BurgerFi, Aveda, Lime Fresh Mexican Grill and F45 gym.

A Hutensky Capital Partners affiliate purchased two Illinois shopping centers from Sterling Organization for $31.6 million. Ross Dress for Less, DD’s Discounts, HomeGoods, Petco and Michaels anchor the 160,330-square-foot Hillside Town Center. PetSmart and Aldi anchor the 54,948-square-foot Prairie Market East in Oswego. HCP affiliate The Hutensky Group will manage both properties.

KPR purchased the 77,000-square-foot, Publix-anchored Amberly Place in Cary, North Carolina, from Sembler for $28.4 million. Additional tenants include Mod Pizza, Tropical Smoothie Cafe, Tina Vora Salon & Spa, The Dental Co. and Amberly Village Veterinary Hospital.

Seagate Development Group sold Fort Myers, Florida’s 30,000-square-foot Arbor Towne Square to an LLC for $5.1 million. TCG represented the buyer and seller. The rent roll consists of Goodwill, Allstate, Domino’s, Walgreens and Pinch a Penny. The plaza is adjacent to a 76,000-square-foot, 663-unit self-storage facility that Seagate’s SW Management & Realty sold to Public Storage in April.

A freestanding property net leased to U.S. Bank in Rochester, Minnesota, traded for $2 million. Upland Real Estate Group represented the buyer.

A ZIG affiliate purchased a vacant bank branch in Sanford, North Carolina, for $725,000 from PNC. The one-acre property includes a 2,400-square-foot building with a drive-thru, which ZIG plans to repurpose. Cushman & Wakefield represented the seller, and Atlantic Retail represented the buyer.

The Festival Cos. purchased the former Macy’s parcel contiguous to Simi Valley Town Center in Simi Valley, California, from the retailer. Festival now controls the entire Simi Valley Town Center site: 600,000 square feet of existing retail on 43 acres. “Now that we have overall site control, we can move forward with our redevelopment plans, which include a five-acre apartment development and a future hotel site,” said Festival CEO Rosalind Schurgin. “The property will continue to maintain a major retail presence, with new opportunities to add retail anchor stores, plus new outparcel restaurant and retail developments,” she added.

Trademark acquired two properties in Austin: Great Hills Market and Great Hills Station, across U.S. Highway 183 from each other at the intersection with Great Hills Trail. Great Hills Market is 154,069 square feet with 19 retail and restaurant tenants, including Modern Market, Petco, T.J.Maxx, Regal Cinemas and Manuel’s Mexican restaurant. Great Hills Station is 128,377 square feet with 17 tenants, including Sprouts Farmers Market, The Vitamin Shoppe, Michaels and Truluck’s.

Target Corp. purchased a 117,162-square-foot retail building in Lancaster, Pennsylvania, from Seritage KMT Finance. Bennett Williams Commercial represented the seller.

Ziff Real Estate Partners acquired the 29,569-square-foot Fishers Crossing in Fishers, Indiana. The rent roll includes national tenants like Pet Supplies Plus, Great Clips and Papa John’s.

3 retail property financings

JLL Capital Markets arranged a $26.6 million refinancing for Miami’s 94,815-square-foot, fully occupied Town and Country Plaza. Sedano’s grocery and Navarro Discount Pharmacy anchor the property, which also is home to Sherwin-Williams, Goodwill, Express Auto Care and Discount Auto Parts. JLL worked on behalf of the borrower, MMG Equity Partners, to place the 11-year, full-term, interest-only loan with Guardian.

Axiom Capital Corp. arranged a 10-year, fixed-rate, nonrecourse, $17.8 million permanent loan to refinance a single-tenant retail building in Hillsdale, New Jersey, that’s leased to grocer ShopRite.

Mag Mile Capital completed a $5.1 million, 10-year, fixed-rate loan for a triple-net lease retail property in Dunwoody, Georgia, for borrower Freeport Equity. The building is leased to Endeavor Montessori. The nonrecourse loan was closed at 65% loan to value and at a fixed interest rate of 3.75% on a 25-year amortization schedule with no prepayment penalty.

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