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NEWS ROUNDUP
ACQUISITION: Publix pays $78M for 181K SF Fountains of Boynton, buying the Center It Anchors. Publix Super Markets acquired Fountains of Boynton, an approximately 181,000 SF shopping center at 6627 W. Boynton Beach Blvd. in Boynton Beach, Florida, for $78 million, or approximately $432 per square foot. Union Investment Real Estate and Bolder Group sold the property. Built in 1995, the center is anchored by a 56,000 SF Publix and LA Fitness. Other tenants include Duffy’s Sports Grill, The UPS Store and MD Now Urgent Care. CBRE’s National Retail Partners Florida team advised the seller. The acquisition reflects Publix’s strategy of purchasing shopping centers that house its stores.
ACQUISITION: Brixmor, Everview agree to buy Slate Grocery REIT for $2.34B. Brixmor Property Group and Everview Partners have agreed to acquire Slate Grocery REIT in an all-cash transaction valued at approximately $2.34 billion, offering $13 per unit. The deal follows a strategic review launched in May after Slate Grocery REIT received an unsolicited proposal from affiliates of its external manager, Slate Asset Management. The REIT’s portfolio comprises 115 grocery-anchored shopping centers totaling approximately 15 million square feet across the United States. Under the agreement, Brixmor will acquire 23 centers outright, while Brixmor, Everview and an investment fund associated with the Abu Dhabi Investment Authority will acquire the remaining 92 properties. The transaction is expected to close in the first quarter of 2027, subject to unitholder approval and other customary conditions.
ACQUISITION: DLC, DRA Advisors buy 640K SF Shadow Lake Towne Center in Nebraska for $95M. DLC and a fund managed by DRA Advisors acquired Shadow Lake Towne Center, a 640,328 SF open-air shopping center in Papillion, Nebraska, marking DLC’s entry into the Omaha market. The reported purchase price was $95 million. The center features national retailers including JCPenney, Dick’s Sporting Goods, Burlington, TJ Maxx, HomeGoods, PetSmart, Ross Dress for Less and Ulta Beauty, and is shadow-anchored by a Hy-Vee grocery store. Brett Gottlieb, senior managing director at DRA Advisors, said the investment reflects the firm’s focus on high-quality open-air retail with durable demand and value-creation opportunities. DLC reported acquiring more than $1.3 billion in retail assets over the preceding 15 months.
ACQUISITION: Agree Realty buys 204K SF Walmart ground lease in Germantown, Wisconsin, for $8.8M. Agree Realty Corp., a Michigan-based real estate investment trust, acquired the ground-lease interest associated with a 204,000 SF Walmart Supercenter on 38.43 acres at W190N9855 Appleton Ave. in Germantown, Wisconsin, for $8.8 million. The property was sold by Meridian Germantown LLC. Dan Rosenfeld and Tanner Rosen of Mid-America Real Estate’s Wisconsin investment sales team represented the seller. The acquisition adds another Milwaukee-area retail property to Agree Realty’s national portfolio.
LEASING: CBRE signs five retail tenants at Center Point mixed-use development in Wilmington, North Carolina. CBRE has secured leases totaling more than 13,000 square feet with five retail tenants at Center Point, a mixed-use development near the intersection of Eastwood and Military Cutoff roads in Wilmington, North Carolina. The tenants are Nest Interiors, Blended Shoes + Apparel, Burton’s Grill & Bar, Thompson’s of Wilmington and Jeff’s Bagel Run. The leases represent the first announced retail commitments at the project, whose first phase includes approximately 33,000 square feet of retail space. Charlie Coyne and Matt Larson of CBRE represented ownership in the lease negotiations, alongside Sam Lathan of Swain & Associates. Center Point is being developed through a joint venture between The Beach Company and Swain & Associates. Once complete, the development is planned to include more than 100,000 square feet of retail and restaurant space, a 265-unit apartment complex called The Sterling, and office space.
DEVELOPMENT: Legacy Development Partners acquires Maricopa, Arizona, site for 45K SF Retail Center. Legacy Development Partners has acquired a 6.6-acre development site in Maricopa, Arizona, for Legacy on Porter, a planned ground-up retail center with more than 45,000 square feet of retail, restaurant, and service-oriented space. Construction is expected to begin immediately. Confirmed tenants include Goodwill, Chipotle Mexican Grill, Jersey Mike’s Subs, HTeaO, Orlie’s Taproom, and Swig. Leasing negotiations for the remaining shop space and pad sites are ongoing.
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