PPR Estates’ Post

It has been a while since my last post 2 years ago, and although there have been significant shifts in the market, we have remained active. Our intent on growing our existing portfolio has and will remain strong. Below is a list of our acquisitions over the past 2 years, and while our number of acquisitions are down approx. 50% annually from the prior 12-year period, we are still very pleased with the addition of 31 excellent assets. I want to thank all the hard-working brokers that helped us. We couldn’t have achieved this growth without you. Vacant Lot – NEC of State St, and 100 North, Ferron, UT 7-Eleven – 18179 Lee Hwy, Amissville, VA 7-Eleven – 203 S Stuart Hwy, Elkton, VA 76 – 7400 La Tijera Blvd, Los Angeles, CA 7-Eleven – 631 S Main St, Fallbrook, CA AutoZone –  815 Dover Rd, Easton, MD Raising Cane’s – 3030 Milton Ave, Janesville, WI (Development Deal) 7-Eleven – 501 Serramonte Blvd, Daly City, CA Jack in the Box – 550 NE Circle Blvd, Corvallis, OR 7-Eleven – 3963 George Washington Memorial Hwy, Hayes, VA 7-Eleven – 1515 South 500 West, Woods Cross, UT Arby’s – 15021 Metcalf Ave, Overland Park, KS 7-Eleven – 191 W Adams, Chicago, IL 7-Eleven – 9502 Mt Holly Huntersville Rd, Huntersville, NC 7-Eleven – 1301 Veterans Blvd, Festus, MO Speedway – 507 E Broadway, Farmington, NM 7-Eleven – 357 Market St, Elmwood Park, NJ 7-Eleven - 10128 Wadsworth Pkwy, Westminster, CO Arby’s – 3270 Coors Blvd NW, Albuquerque, NM 7-Eleven – 730 E Foothill Blvd, Pomona, CA Vacant Hardees– 1250 S Pokegama Ave, Grand Rapids, MN Advance Auto – 5687 Curry Ford Rd, Orlando, FL 7-Eleven strip center – 13700 Vanownen St, Van Nuys, CA Einstein’s – 4639 Kirkman Rd, Orlando, FL Burger King – 4360 National Rd E, Richmond, IN 7-Eleven – 4101 Calloway Dr, Bakersfield, CA Safeway – 700 B Street, San Rafael, CA 7-Eleven – 651 W Main St, Lansdale, PA Jack in the Box – 1600 E Roosevelt Blvd, Monroe, NC Taco Bell – 4304 Outer Loop, Louisville, KY Fazoli’s – 3553 N Rock Rd, Wichita, KS Please continue to bring opportunities our way.

Barings has acquired Joondalup Square, a strategically located large format retail centre in Perth, for A$74 million. Gareth Price, Managing Director, Capital Transactions at Barings said: “We are delighted to acquire our first high-quality large format retail asset in Perth in the heart of the Joondalup retail precinct. We are attracted to the industrial-like characteristics of large land area, great access and visibility, buildings not over capitalized, quality tenants paying sustainable rent, and additional development potential.” Read more: https://ow.ly/u3xT50Uugfq

🟢 BRITISH LAND ACQUIRES ORBITAL RETAIL PARK 🟢 💼 British Land has added the Orbital Retail Park in Swindon to its growing portfolio, continuing its recent spree of strategic acquisitions. 💼 🏬 The 13-acre retail park hosts major brands, including Next and M&S Foodhall, with plans to enhance its value through asset management and sustainability initiatives. 🏬 💥 This purchase aligns with British Land's strategy to invest in high-quality, well-located retail destinations that meet evolving consumer needs. 💥

What's next for Tropical Smoothie Cafe after its acquisition? Private equity funds managed by Blackstone have successfully acquired Tropical Smoothie Cafe from Levine Leichtman Capital Partners, valuing the fast-casual chain at approximately $2 billion according to the Wall Street Journal. This acquisition also introduces Nigel Travis, former CEO of Dunkin’ Brands, as the new chairman of Tropical Smoothie Cafe, marking a significant leadership shift. Founded in 1997 and headquartered in Atlanta, Tropical Smoothie Cafe is a leading franchisor with over 1,400 locations across 44 states. With the new backing from Blackstone, the company is poised for accelerated expansion and innovation. “With Blackstone’s capital and resources, we look forward to accelerating the company’s continued expansion across the country and supporting innovation to further capitalize on the brand’s unique positioning,” said Blackstone executives Peter Wallace and Michael Staub. The acquisition follows significant growth under Levine Leichtman Capital Partners, who acquired the chain in 2020 when it had 870 locations. In 2023 alone, Tropical Smoothie Cafe opened over 175 new locations, with 70% launched by existing franchisees. 👉 Click link for details: https://lnkd.in/gyy7-s7k #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #tropicalsmoothiecafe

JLL in conjunction with Stonebridge is pleased to announce the sale of Smithfield Shopping Centre for $138 million. Smithfield is a dominant Sub-Regional Shopping Centre anchored by Woolworths, Coles, Kmart and Event Cinemas. The Centre is positioned on a large 12.4 ha land holding and dominates the north Cairns catchment. The deal follows strong capital demand for sub-regional assets and as Syndicator capital reaches record market share for retail acquisitions. Throughout 2023, Syndicator buyers accounted for more than 40% of the total deal volumes which is substantially above the annualised average over the prior decade of just 16%. Congratulations to both Lendlease and their client and Alceon Qld on the successful transaction. If you would like further details on this transaction please contact the JLL team. #AustralianRetailProperty #CommercialRealEstate #CRE #RetailInvestment #CapitalMarkets #ShoppingCentre #ShoppingCentreInvestment #PropertyInvestment #InvestmentProperty #RetailAssets #CommercialProperty #AustralianCRE #RealEstateFinance #RetailPortfolio #PropertyDevelopment #InvestmentOpportunity #RetailStrategy #AssetManagement #PropertyMarket #RealEstateInvestor #RetailTrends #AustralianEconomy #MarketAnalysis

Charter Hall’s Bunnings Albion Park sold for $40.6 million by CBRE Bunnings Albion Park sold by CBRE Senior National Director of Retail Capital Markets – Australia, James Douglas on behalf of Charter Hall, with Costi Cohen’s Tas Costi and Jacky He 贺奕升 acting as the buyer’s agents and transaction advisor. “Despite the lack of recent transactions, Bunnings stores remain highly sought-after by a broad range of investors due to the typically long-term nature of the leases and inbuilt fixed annual rental growth,” James Douglas noted. Costi Cohen’s Tas Costi said, “Our client recognised the long-term security and strong growth potential offered by this exceptional Bunnings asset. The strategic location, coupled with a high-quality tenant like Bunnings, provides a stable income stream and aligns perfectly with our client’s focus on assets that offer both security and future value. This acquisition highlights the continued appeal of well-located, premium-grade properties in Australia’s commercial landscape.” Jacky He 贺奕升 noted, “Asian investors are increasingly seeking generational assets with reputable tenants like Bunnings, whose strong covenant and proven market resilience make them ideal for high-growth areas like Shellharbour. ” Read more on COMMO > https://lnkd.in/gm8g9BqU Simon Rooney Leif Olson Sheree Griff Stephen Thomas Shane Cook Joe Tynan Michael Hedger Mark Curtain Bruce Baker Ben Wicks Alex Mirzaian Amita Mehra Charlotte Fordyce Chloe Mason Sheree Griff Shane Cook Ryan Arrowsmith Chris McDonald Fred Clohessy Daniel Sollorz Michelle Clarke Sean McMahon Emily Harding Julian Menegazzo The ASEAN Developer RETalk Asia #cbre #retailnews #bunnings #sold #shellharbour #realestate #commercial #retailmarket #lfr #largeformatretail #retailrealestate #retailinvestment #charterhall #costicohen

We're delighted to confirm that a new company has acquired the leasehold for The Market Hall in Carlisle. The new leaseholder of The Market Hall and Eden Centre site - which includes the covered market, TK Maxx unit and the unit formerly occupied by Wilko - is Bearmont Group. The acquisition aligns with Bearmont's strategy to “rejuvenate undervalued shopping centres, enhancing footfall and tenant mix to create sustainable retail spaces”. Following the change of leaseholder, a new managing agent has been jointly appointed by Bearmont Group and the council, the building’s owners. Going forward Mason Partners LLP will manage the site on a day-to-day basis. The change comes at an exciting time for The Market Hall as the council is currently exploring options to improve the experience and offer there. This includes a potential communal seating area that would complement and support the fantastic food offering - and attract even more people to eat and shop. 📰Read more: https://lnkd.in/eeKRuV5H

Breaking News in the Dining Industry! Blackstone Group has struck a monumental deal to acquire a majority stake in Jersey Mike's Subs, valuing the rapidly expanding sandwich chain at an impressive $8 billion, including debt. As one of the fastest-growing dining chains in the country with around 3,000 locations, Jersey Mike's continues to set the bar high. This acquisition follows the trend of recent private equity restaurant investments, including Roark Capital's $9.6 billion purchase of Subway last year. Why does this matter? Market Dynamics: The deal highlights the robust growth potential within the fast-casual dining sector. Strategic Investment: With Blackstone's backing, Jersey Mike's is poised for even greater expansion and innovation. Industry Trends: Private equity firms continue to see significant value in established brands with strong growth trajectories. This acquisition not only signifies a major shift in the industry but also underlines the importance of strategic investments in scaling beloved brands. We can expect exciting developments from Jersey Mike's Subs as they leverage Blackstone's resources and expertise. Stay tuned for more updates and insights on this evolving story! #PrivateEquity #MergersAndAcquisitions #FastCasual #JerseyMikes #Blackstone #IndustryTrends #Growth #Investment #DiningIndustry

Woodland Hills, CA, DealPoint Merrill announces the acquisition of a portion of the Crossings at Westland Shopping Center, a 126,700-square-foot retail property located in Westland, Michigan. Nestled within a bustling residential and retail corridor along Southern I-275, the shopping center is strategically positioned in one of Michigan's rapidly growing cities. Surrounding amenities include established retail shops, restaurants, and recreational facilities, further enhancing the site's appeal. DealPoint Merrill plans to commence the property's redevelopment in the first quarter of 2025. This project represents the company's fifth project in Michigan, highlighting its ongoing commitment to transforming retail in high-growth regions. The acquisition was led by David Frank, CEO of DealPoint Merrill, with Sterling McGregor, President, managing due diligence. Jason Limbert and Tyler Bendicksen played integral roles in the acquisition and underwriting process.

British Land is rapidly ploughing capital into the retail park development sector following a “particularly strong” market performance. Since April, the development company has invested £711 million into retail park acquisitions, offloading hundreds of millions of pounds of non-core assets to pursue what it describes as ‘one of its preferred subsectors’.  “Since 2021 we have increased our exposure to retail parks from 15 per cent of the portfolio to 32 per cent today,” said chief executive, Simon Carter.   “This conviction is paying off, with retailers competing for cost-efficient out-of-town space to support their online operations.  British Land currently has 98 per cent portfolio occupancy, with performance levels high in the following subsectors:  Campuses: 97 per cent   Retail parks: 99 per cent   London urban logistics: 100 per cent