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Hayden Spiess

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FloridaGrocery-anchoredInvestment salesNews

Fairway Purchases 64,441-Square-Foot Shopping Center in Tampa Suburb

by Hayden Spiess

Lutz, Fla. — Fairway Investments has acquired Livingston Market Place, a 64,441-square-foot shopping center located in the northern Tampa suburb of Lutz. Situated on 32.8 acres, the property is anchored by Publix. Other tenants at the center, which was completed in 2022 and fully leased at the time of sale, include Heartland Dental, Papa Johns, Prime Barber and 40 Thieves Irish Pub. Bryan Belk and John Tennant of Franklin Street arranged the sale on behalf of the seller/developer, a partnership between Dunphy Development and Batson-Cook Development.

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Center-Pointe-Menifee-CA
CaliforniaGrocery-anchoredInvestment salesNews

Tourmaline Capital Sells Center Pointe Retail Center in Southern California for $24.6 Million

by Hayden Spiess

Menifee, Calif. — Tourmaline Capital has completed the disposition of Center Pointe, a newly developed shopping center located in Menifee. A private 1031 exchange buyer acquired the center for $24.6 million. Sprouts Farmers Market, Wendy’s, Olive Garden, Tacos & Tequila and Paris Nails are tenants at the 41,461-square-foot property. At the time of sale, the retail center was 96 percent leased. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the deal.

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FinanceNew YorkNews

Ashkenazy Acquisition Corp. Receives $20.6 Million Refinancing for Manhattan Retail Property

by Hayden Spiess

New York City — Ashkenazy Acquisition Corp. has received a $20.6 million loan for the refinancing of a 25,673-square-foot retail property located along Third Avenue on Manhattan’s Upper East Side. The property was fully leased at the time of the loan closing. Ronnie Levine and Ben Jacobs of Meridian Capital Group arranged the 10-year, fixed-rate acquisition loan through Bank of Montreal on behalf of ownership.

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Sprouts-Mesa-Ariz
ArizonaGrocery-anchoredInvestment salesNews

Marcus & Millichap Brokers $18.5 Million Sale of Shopping Center in Mesa, Arizona

by Hayden Spiess

Mesa, Ariz. — Marcus & Millichap has brokered the $18.5 million sale of Sprouts Center, a 55,615-square-foot shopping center located in Mesa. Sprouts Farmers Market anchors the property. Marc Irvin of Marcus & Millichap represented the seller, an Arizona-based private investor. A California-based family trust acquired the center in a 1031 exchange. Ryan Sarbinoff of Marcus & Millichap acted as broker of record and assisted in closing the transaction.

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FloridaInvestment salesMixed-useNews

Cushman & Wakefield Arranges $15 Million Sale of Mixed-Use Property in Palm Beach

by Hayden Spiess

Palm Beach, Fla. — Cushman & Wakefield has brokered the sale of a mixed-use property comprising one two-story, 30,648-square-foot building in Palm Beach. Scott O’Donnell, Mike Ciadella, Dominic Montazemi, Miguel Alcivar and Greg Miller of Cushman & Wakefield represented both the buyer and seller in the $15 million transaction. An entity doing business as 15650 and 15700 Don Julian Road LLC purchased the property from an entity doing business as 2875 S. Ocean Boulevard LLC. The building, which was built in 1982 and was 87 percent leased at the time …

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CaliforniaGrocery-anchoredInvestment salesNews

Balboa Retail Partners Purchases 91,000-Square-Foot Retail Center Near San Francisco

by Hayden Spiess

Pinole, Calif. — Balboa Retail Partners has purchased Pinole Square, a shopping center located in Pinole, approximately 20 miles northeast of San Francisco. A private family sold the property for an undisclosed price. Safeway and CVS/pharmacy have anchored the 91,000-square-foot retail center for more than 50 years. Nicholas Bicardo and Cheyne Bloch of Newmark facilitated the transaction.

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FinanceIndustry ContentNewsWashington DC

NRF: Holiday Retail Sales Rose 5.3 Percent to $936.3 Billion in 2022

by Hayden Spiess

 Washington, D.C. — The National Retail Federation (NRF) has reported that retail sales during 2022’s November-December holiday season rose 5.3 percent year-over-year, reaching $936.3 billion. Though the number fell short of NRF’s predictions, which anticipated an increase of 6 to 8 percent, it represents an improvement on the 4.9 percent average annual holiday sales growth over the previous 10 years. The calculation, based on data from the U.S. Census Bureau, excludes automobiles, gasoline and restaurant sales and defines that holiday season as Nov. 1 through Dec. 31, 2022. “We knew …

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Hinesville-Central
GeorgiaInvestment salesNews

Marcus & Millichap Brokers $10.3 Million Sale of Shopping Center Near Savannah, Georgia

by Hayden Spiess

Hinesville, Ga. — Marcus & Millichap has brokered the $10.3 million sale of Hinesville Central, a 41,800-square-foot retail center located in Hinesville, roughly 45 miles southwest of Savannah. The property is shadow-anchored by Walmart Supercenter. Al Taf of Marcus & Millichap’s Atlanta office represented the seller, a 104-year-old private company based in Georgia, in the transaction. Brian Munn, also with Marcus & Millichap’s Atlanta office, procured the buyer, a private investor.

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clocktower-village
FinanceNebraskaNews

Northmarq Arranges $5.3 Million Loan for Refinancing of Retail Strip Center in Omaha

by Hayden Spiess

Omaha, Neb. — Northmarq has arranged the $5.3 million refinancing of Clocktower Village in Omaha. The retail strip center spans 44,000 square feet and is located at 605 N. 98th St. John Reed of Northmarq arranged the fixed-rate loan, which features a 10-year term and a 25-year amortization schedule. A local credit union provided the loan.

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IllinoisInvestment salesNews

Tartan Realty Sells 12,000-Square-Foot Retail Strip Center in Springfield, Illinois

by Hayden Spiess

Springfield, Ill. — Marcus & Millichap has arranged the sale of a 12,000-square-foot retail strip center in Springfield for an undisclosed price. FedEx Office and Verizon are the anchor tenants at the fully leased property. Brian Parmacek of Marcus & Millichap represented the seller, Chicago-based Tartan Realty Group Inc.

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