REAL ESTATE

New tenants bring Grace Park to near 100% occupancy

BY Katherine Boccaccio

Morrisville, N.C. — The Kalikow Group, on behalf of KEP Morrisville Realty and EYC Cos., said that Grace Park, a mixed-use development featuring 90,000 sq. ft. of ground-floor and outparcel retail space, as well as 180 residences, is nearing 100% occupancy with the addition of four new tenants.

Trali Irish Pub, leased 4,100 sq. ft. at the Morrisville, N.C. property, and Health Station will occupy 1,500 sq. ft. Ladders Teaching Supply is opening a 1,500-sq.-ft. store and Italian restaurant Mare leased 3,200 sq. ft.

Existing tenants include Starbucks, 5 Hot Chilies, Peppers Market, Pristine Auto Spa, Salon 93, Quizno’s Subs, Buffalo Wings and Rings, Dairy Queen, Bite Dental, Anytime Fitness, Red Polish Nail Bar, NC Bagel Café and Goodwill.

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REAL ESTATE

SoulCycle to open at Rye Ridge Shopping Center

BY Katherine Boccaccio

Rye Ridge, N.Y. — The Charter Realty Group said that it has arranged its second transaction on behalf of SoulCycle for a 2,350-sq.-ft. space at Rye Ridge Shopping Center, located in Rye Brook, N.Y.

Charter previously represented SoulCycle, an indoor fitness cycling center, in a 7,000-sq.-ft at One Fawcett Place in Greenwich, Conn.

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REAL ESTATE

S&S sells Sunoco portfolio for $32 million to Cole Real Estate

BY Katherine Boccaccio

Dallas — S&S Enterprises said it has sold a portfolio of 12 Sunoco fuel centers and convenience stores in central and southeast Florida for $32 million to entities managed by Cole Real Estate Investments.

The portfolio consists of 37,275 sq. ft., with seven of the 12 locations having been redeveloped and all locations having received 20-year lease extensions.

The 12 locations are situated along the I-95 corridor with one in Lake Worth, two in West Palm Beach, one in Palm Beach Gardens, three on Merritt Island, two in Titusville, one in Cocoa, one in Palm City, and one in Sebastian, Fla.

“It’s one of the best fuel center portfolios that have been on the market in a while,” said Kyle Stonis, senior VP in the SRS Atlanta office SRS represented S&S in the sale.

“The sale was an excellent strategic portfolio play for both buyer and seller.” Dan Lovitz, director of acquisitions for Cole Real Estate Investments added, “This portfolio was attractive to Cole due to the long-term net leases, excellent rent growth, strong credit of the parent company, and quality coastal locations.”

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