Hialeah and Miami, Fla. — Limestone Asset Management and Orion Real Estate Group, doing business as Limestone Wells, have purchased two single-tenant, Walgreens-leased properties in Florida for $15.6 million. Located in Miami and Hialeah, the properties total 17,909 square feet and 14,490 square feet, respectively. Kevin Sanz of Orion represented the buyers in the all-cash transaction. Brian Pfohl of CBRE represented the seller, Walgreens Co.
Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million sale of a single-tenant property located in Fresno. Starbucks Coffee occupies the newly constructed, 2,250-square-foot building. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Laguna Canyon Group, in the transaction. Patrick Conway of CBRE represented the buyer, a locally based private investor.
Kenilworth, N.J. — Pure Hockey has signed an 11,340-square-foot lease in Kenilworth. Dean Tselepis of Newmark represented Pure Hockey in the lease negotiations. The hockey equipment retailer will open a store in a space formerly occupied by Clean Land Laundromat. Chuck Lanyard of The Goldstein Group represented the landlord, an entity doing business as Kenilworth 2480 Route 22 LLC.
Jericho and New York City, N.Y. — Kimco Realty (NYSE: KIM) has entered into a definitive merger agreement with RPT Realty (NYSE: RPT) under which Kimco will acquire RPT Realty in an all-stock transaction. Both REITs are based in New York — Kimco in Jericho and RPT in Manhattan — and own and operate open-air and grocery-anchored shopping centers, as well as mixed-use assets. Kimco valued the transaction at approximately $2 billion, including the assumption of debt and preferred stock. The merger will add 56 open-air shopping centers, including 43 wholly …
Rockwall, Texas — JLL Capital Markets has arranged the sale of Rockwall Market, a 211,971-square-foot retail center located in the Dallas suburb of Rockwall. Built in 1999, the property was fully leased at the time of sale. Tenants at the center include Ross Dress for Less, Burkes Outlet, Michaels, Old Navy and Petco. Adam Howells, Ryan Shore and Megan Babovec of JLL represented the undisclosed seller in the transaction. Dunhill Partners acquired the property.
Omaha, Neb. — Marcus & Millichap has brokered the $7 million sale of Plaza Q36, an 81,592-square-foot retail center located in Omaha. The property was fully leased at the time of sale. Alex Perez of Marcus & Millichap represented the seller, a limited liability company, in the transaction, with assistance from Jon Ruzicka, the firm’s broker of record in the state.
St. Charles, Mo. — Off-price fashion and footwear retailer Gabe’s has signed a 76,000-square-foot lease at Mark Twain Village in St. Charles. First National Realty Partners (FNRP) is the owner of the property. Other tenants at the center include Bass Pro Shops, Duluth Trading Co., Dungarees and Aldi. The new lease brings the property to 97 percent occupancy.
St. Johns County, Fla. — PEBB Enterprises and Falcone Group have signed three new tenants to the retail and restaurant space at Beachwalk, a mixed-use project currently underway in St. Johns County. Starbucks Coffee, Fancy Sushi and Playa Bowls will occupy 2,500, 1,500 and 1,200 square feet, respectively. The new leases bring the retail and restaurant space at the development, which totals 170,000 square feet, to 55 percent occupancy. Other tenants at the project include Fysh Bar & Grill, Noire Nail Bar, F45 Fitness, BurgerFi, Supercuts, Kilwins, Bagels R Us, Island …
Marcus & Millichap Brokers $14.8 Million Sale of University Commons Shopping Center in South Florida
Tamarac, Fla. — Marcus & Millichap has brokered the $14.8 million sale of University Commons, an 80,224-square-foot shopping center located in Tamarac. Quince Supermarket anchors the property. Other tenants include Dunkin’ Donuts, Quest Diagnostics and Tire Choice. The buyer, an undisclosed New York-based private investor, purchased the center from a private investment firm based in Miami. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller in the transaction.
Northfield, Ill. — JLL Capital Markets has arranged the $13.1 million sale of a 47,732-square-foot property located in Northfield, roughly 20 miles outside Chicago. Mariano’s occupies the single-tenant property on a triple-net-lease basis. Alex Sharrin, Michael Nieder, Mohsin Mirza, Charles Shehan and Caity Tirakian of JLL represented the seller, Stockbridge, in the transaction. Swanson Development Group was the buyer. Mariano’s currently operates 44 grocery stores throughout the state. The chain was acquired by Kroger via its parent company, Roundy’s, in 2015.