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NEWS ROUNDUP
ACQUISITION: Newmark negotiates sale of 162,500 SF grocery-anchored neighborhood center in Atlanta. Heitman acquired Madison Yards, a 162,500 SF neighborhood shopping center in Atlanta’s Reynoldstown neighborhood, for $73.3 million from CTO Realty Growth. Delivered in 2018, the center is anchored by Publix and was 97 percent leased at the time of sale. The tenant mix includes national and local businesses across food and beverage, fitness and entertainment, including an AMC Theatre described by Newmark as one of Georgia’s highest-performing locations. Conor Lalor, Kyle Minter, James Sharpe V and Cameron Alexander of Newmark represented the seller.
DEVELOPMENT: Kimco Realty proposes 393-unit mixed-use redevelopment at Wilton Center in Connecticut. Kimco Realty has submitted a revised proposal to expand its planned redevelopment at 15–21 River Road in Wilton, Connecticut, from 168 to 393 apartments. The proposal includes demolishing a vacant office building and constructing two residential buildings with a mix of one-, two- and three-bedroom apartments, parking and outdoor amenities. The earlier approved plan included 11,000 square feet of retail space and three affordable apartments. The expanded proposal remains subject to municipal review.
ACQUISITION: Marcus & Millichap brokers sale of 7,295 SF multi-tenant retail center in Anna, Texas. Marcus & Millichap brokered the sale of a 7,295 SF, four-suite retail property in Anna, Texas, a North Texas city. Built in 2021, the center was fully leased at the time of sale to Verizon Wireless, The UPS Store, Jersey Mike’s Subs, and Fuzzy’s Taco Shop. The property was acquired as part of a two-property portfolio that included an adjacent shopping center in an all-cash transaction structured as a 1031 exchange. Chris Gainey and Philip Levy of Marcus & Millichap represented the buyer, a Dallas-area private partnership.
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