Author

Abby Cox

Northpoint Shopping Center
Investment salesNewsWisconsin

Hastings Properties LLC Acquires Northpoint Shopping Center in Central Wisconsin for $8.2 Million

by Abby Cox

Stevens Point, Wis. — Hastings Properties LLC has acquired Northpoint Shopping Center, a 62,956-square-foot retail property located in the central Wisconsin city of Stevens Point, for $8.2 million. Built in 1968, Northpoint Shopping Center was fully leased at the time of sale to 11 tenants including Dollar Tree, Anytime Fitness, U.S. Cellular and Firehouse Subs. The property is situated on 4.2 acres near the University of Wisconsin-Stevens Point. Dan Bowar of Marcus & Millichap procured the buyer in the transaction.

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Shops-Wilma-Rudolph_Clarksville
Investment salesNewsTennessee

Matthews Negotiates Sale of 10,031-Square-Foot Retail Center in Northern Tennessee

by Abby Cox

Clarksville, Tenn. — Matthews has negotiated the sale of Shops of Wilma Rudolph, a 10,031-square-foot retail center located at 3031 Wilma Rudolph Blvd. in Clarksville, about 46 miles northwest of Nashville. A private investor based in north Alabama purchased the center from the seller, a development firm based in Tennessee, for more than $5 million. Hutt Cooke and Robert Tate of Matthews represented the seller in the transaction. Shops of Wilma was fully leased at the time of sale to Sleep Number, FedEx Office and a U.S. Army Recruiting Station, …

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fayette-square
Investment salesNewsOhio

Cooper Commercial Arranges $1.9 Million Sale of Fayette Square in Ohio

by Abby Cox

Washington Court House, Ohio — Cooper Commercial Investment Group has arranged the $1.9 million sale of Fayette Square, a 13,840-square-foot retail center in Washington Court House, located between Columbus and Cincinnati. Walmart Supercenter shadow anchors the center, which was fully occupied at the time of sale. Other tenants include T-Mobile, Cricket Wireless, Verizon Wireless, GameStop and Shoe Show, according to Showcase.com. Dan Cooper of Cooper Commercial Investment Group represented the seller, a Texas-based investment group, in the transaction. The property sold to a Kentucky-based buyer at a cap rate of 8 percent.

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IHOP_Tyler_TX
Investment salesNewsTexas

Hanley Investment Group Brokers Sale of Single-Tenant Restaurant Property in Tyler, Texas

by Abby Cox

Tyler, Texas — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant restaurant property located in the East Texas city of Tyler. IHOP occupies the 4,464-square-foot building, which is situated on a 1.9-acre outparcel to a Walmart Supercenter. The lease has seven years remaining. This transaction marks Hanley Investment Group’s third IHOP sale in Texas in the last five months. Garrett Wood of Hanley Investment Group, in association with ParaSell Inc., represented the seller, a private investor based in Florida. The buyer represented themselves.

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ArizonaDevelopmentGrocery-anchoredInvestment salesNews

SimonCRE Acquires 10 Acres to Develop Prasada East Retail Project in Surprise, Arizona

by Abby Cox

Surprise, Ariz. — SimonCRE has acquired approximately 10 acres of land to develop Prasada East, a 98,000-square-foot open-air center located in Surprise, about 30 miles northwest of Phoenix. SimonCRE plans to break ground on the project later this spring. Prasada East will complement the existing Village at Prasada and Prasada North developments, which comprise more than 1 million square feet. The initial phase of Prasada East will feature a new 35,100-square-foot Whole Foods Market as the property’s anchor, as well as additional box spaces, multiple restaurant pads and shop space. Additional …

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Shadow Lake Towne Center
Investment salesNebraskaNews

DLC, DRA Advisors Acquires Shadow Lake Towne Center Near Omaha, Nebraska, for $95 Million

by Abby Cox

Papillion, Neb. — A joint venture between DLC Management Corp. and DRA Advisors has acquired Shadow Lake Towne Center, a 640,327-square-foot regional shopping center located in Papillion, a southern suburb of Omaha. Shadow Lake Towne Center spans 83.5 acres and was 89 percent occupied at the time of sale. Tenants include Dick’s Sporting Goods, JCPenney, T.J. Maxx, Burlington, HomeGoods, Michaels and Ross Dress for Less, as well as a Hy-Vee grocery store, which was not included in the sale. Brian Page and Michael Nieder of JLL Capital Markets represented the seller, …

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The Town Center at Levis Commons
Investment salesNewsOhio

Tanger Acquires The Town Center at Levis Commons in Perrysburg, Ohio, for $60 Million

by Abby Cox

Perrysburg, Ohio — Greensboro, North Carolina-based Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot mixed-use development located in Perrysburg, roughly 10 miles south of Toledo, for $60 million. Charlotte, North Carolina-based developer and owner Hill Partners, which has managed, leased and owned Levis Commons since its opening in 2004, was the seller. Situated at the entrance of J. Preston Levis Commons, a 400-acre master-planned community, The Town Center at Levis Commons features more than 60 retailers and restaurants, a Cinemark movie theater and 69,000 square feet of office space.  Tenants …

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Shops-at-Romeoville
IllinoisInvestment salesNews

United Properties Acquires Two Chicagoland Shopping Centers for $22.6 Million

by Abby Cox

Chicago and Romeoville, Ill. — United Properties Corp. has acquired Bishop Plaza, a 76,000-square-foot retail center in Chicago, for $11.5 million. The company also purchased the Shops at Romeoville, an 82,687-square-foot shopping center along the South Weber Road corridor in Romeoville, for $11.1 million. The Shops at Romeoville is home to tenants such as T.J. Maxx, Ross Dress for Less, Petco and Five Below. Based in East Meadow, New York, United Properties owns and operates shopping centers across 22 states.

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FloridaInvestment salesNews

SRS Real Estate Brokers $11.1 Million Sale of Retail Property in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — SRS Real Estate Partners has arranged the $11.1 million sale of Shops at Race Track, a nearly 17,000-square-foot retail center located at 4560 Race Track Road in Jacksonville. Situated on 2.4 acres within the Durbin Park master-planned community, the property was fully leased at the time of sale to six tenants including Heartland Dental, Dep Nails and Avecina Medical. Patrick Nutt and William Wamble of SRS represented the seller, a national real estate development and investment firm, in the transaction. Sean McGill of Cantrell & Morgan represented …

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FloridaInvestment salesNews

Second Horizon Capital Purchases 710,000-Square-Foot Retail Center in Melbourne, Florida

by Abby Cox

Melbourne, Fla. — Second Horizon Capital has acquired Melbourne Square, a 710,000-square-foot retail center in Melbourne, a city on Florida’s Space Coast. A joint venture between Neuberger Berman and Cross Ocean Partners arranged the sale. According to the Orlando Business Journal, the shopping center sold for $56.3 million on March 2. Second Horizon Capital has implemented a capital improvement program, which will comprise supporting community engagement, center operations, building upgrades and expanding programming and partnerships with local organizations and businesses. CBRE will handle leasing and property management at the center. …

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