Covina, Calif. — SBH Real Estate Group has completed the disposition of a triple-net-leased restaurant asset located at 1477 N. Azusa Ave. in Covina. HB Property Management acquired the asset for $4.6 million. Pollo Campero, a fast-casual restaurant chain, signed a 15-year ground lease to occupy the restaurant property, which is slated to open for business at the end of September. Matt Schwartz of Newmark represented Eric Silverman of SBH Real Estate Group, while Moon Lim of JLL represented the buyer in the deal.
Alpharetta, Ga. — RocaPoint Partners has announced the addition of three new-to-market tenants to Halycon, a mixed-use development in Alpharetta. X-Golf, Rhen’s Nest and Eco Denizen are slated to open by the end of this year. X-Golf, a golf simulator and sports bar, will occupy a 6,692-square-foot space; Rhen’s Nest, a children’s toy store, will occupy a 1,384-square-foot space; and Eco Denizen, an artisanal gift shop, will occupy 1,400 square feet.
Harrisburg, Pa. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of Colonial Commons, a 410,432-square-foot retail center in Harrisburg. The center, which was built in 1989 and renovated in 2014, was 98 percent leased at the time of sale and is anchored by tenants including Hobby Lobby, Dick’s Sporting Goods, HomeGoods, Marshalls, Ross Dress for Less, Jo-Ann Fabrics, Ulta and Old Navy. A PetSmart store is also set to open in 2023. Brad Nathanson of IPA represented the seller and procured the buyer.
Lombard, Ill. — Edgemark Commercial Real Estate Services LLC has brokered the sale of a 217,887-square-foot retail building in Lombard, a western suburb of Chicago. Formerly occupied by department store Carson Pirie Scott, the three-story property is part of Yorktown Center. Mike Wesley and Joanne Sutryk of Edgemark represented the seller, an entity doing business as GMAC 2004-C1 Yorktown Mall LLC. Synergy Construction Group LLC was the buyer.
Iowa City, Iowa — Colliers has brokered the sale of Iowa City Marketplace in Iowa City. The 237,594-square-foot shopping center is located along State Route 6 between Sycamore Street and Lower Muscatine Road. The property is 66 percent leased to 24 tenants such as Dollar Tree, Planet Fitness, Jo-Ann Stores, Marcus Theatres, Sally Beauty, Great Clips, McDonald’s and Panera Bread. El Warner, Charley Simpson and Jeffrey Wyatt of Colliers represented the seller, Core Pacific Advisors.
Norwell, Mass. — JLL Capital Markets has arranged the sale of a Stop & Shop location in Norwell. The 59,519-square-foot single-tenant grocery store is located roughly 25 miles southeast of Boston. A team led by Nat Heald of JLL represented the seller in the transaction. Bailard Real Estate Fund was the buyer.
Mid-America Real Estate Corp. Brokers Sale of 268,893-Square-Foot Shopping Center in Metro St. Louis
Northwoods, Mo. — Mid-America Real Estate Corp.’s Investment Sales Group has arranged the sale of North Oaks Plaza, a 268,893-square-foot shopping center located in Northwoods, roughly 8 miles northwest of St. Louis. Emily Gadomski and Ben Wineman of Mid-America, in association with Tim McFarland of Sansone Group, represented the private seller in the 1031 exchange transaction. The grocery-anchored property was 74 percent leased at the time of sale to tenants including Save A Lot, Citi Trends, St. Louis County Career Center & Workforce Training, Fresenius Medical Care and H&R Block.
Grand Prairie, Texas — Bass Pro Shops and Andretti Indoor Karting and Games have announced plans to open new locations in Grand Prairie, approximately 13 miles west of Dallas. Andretti’s 96,000-square-foot facility is set to open by the end of 2023 and will feature an indoor climate-controlled kart track, an arcade, virtual reality games, laser tag and duckpin bowling. Bass Pro Shops will open a 100,000-square-foot store offering outdoor equipment and clothing, with an aquarium of native fish species, local antiques and artifacts, and trophy fish and wildlife mounts. The …
Forest City, N.C. and Cedartown, Ga. — RealSource Group has arranged the $7.9 million sale-leaseback of a portfolio consisting of two Mach-1 Express Wash properties. Both assets are single-tenant 4,000-square-foot properties located in Walmart-anchored shopping centers. One of the properties is located in Forest City, North Carolina, roughly 65 miles west of Charlotte. The second property is located in Cedartown, Georgia, 60 miles outside of downtown Atlanta. Austin Blodgett of RealSource and Chris Salemi of Aileron Capital Management represented the seller, Mach One (Holdings) Limited. The undisclosed New Jersey-based institutional …
Greenville, S.C. — The retail division of SVN | Blackstream, dubbed Reedy River Retail, has negotiated the $10.7 million sale of Woodruff Village Shopping Center in Greenville. Located at 1810-1848 Woodruff Road, the property’s tenant roster includes Planet Fitness, Social Latitude and Habitat for Humanity’s Restore. Daniel Holloway and Dustin Tenney of Reedy River Retail represented the seller, an entity doing business as Woodruff Investment National Exchange LLC, in the transaction. Rox Pollard of Colliers represented the buyer, MarBro Realty LLC.