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Three-grocer center is sold for $42 million
A subsidiary of NewMark Merrill Companies has acquired Southgate Plaza in Sacramento five years after it was hired by the owner to re-tenant and reposition the center. The 339,369-sq.-ft. Southgate has the distinction of being anchored by three grocery stores — Walmart Neighborhood Market, 99 Ranch Market, and 99 Cents Only. Other tenants include Ross Dress for Less, Skechers, Payless Shoe Source, Farmer & Merchants Bank, and Taco Bell. -
New Stop & Shop format to debut at New York Center
Heidenberg Properties has received planning board approval to build a new 54,000-sq.-ft. Stop & Shop prototype at its Lake Plaza Shopping Center in Mahopac, New York. The store will replace a Key Food supermarket and increase total square footage at the center to 165,000 sq. ft. “This was a complicated process involving multiple municipal agencies,” said Heidenberg VP of Operations Jason Lazar.” We are excited to deliver the new prototype for Stop & Shop."