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Hayden Spiess

RiverTown-Crossings_Grandville-Mich
Investment salesMichiganNews

Poag Acquires 1.3 Million-Square-Foot Shopping Mall in Michigan

by Hayden Spiess

Grandville, Mich. — Memphis-based developer Poag Development Group has acquired RiverTown Crossings, a 1.3 million-square-foot enclosed shopping mall located in Grandville, a suburb southwest of Grand Rapids.  The two-story property featured 114 retailers at the time of sale, including Macy’s, Kohl’s, JCPenney, Celebration Cinemas and Dick’s Sporting Goods. The mall first opened in 1999. Although the seller was not disclosed, Brookfield Property Partners assumed ownership of the mall in 2018 as part of its $15 billion acquisition of giant shopping mall operator GGP Inc. The price was not disclosed. According to …

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The-Plant_San-Jose-Calif
CaliforniaInvestment salesNews

Atlantic Capital Partners Brokers $95 Million Sale of Retail Center in San Jose, California 

by Hayden Spiess

San Jose, Calif. — Atlantic Capital Partners has brokered the $95 million sale of The Plant, a retail center located in San Jose. Tenants at the property, which totals 367,000 square feet, include Target, Home Depot, Best Buy, PetSmart, Ross Dress for Less and Ulta Beauty. Justin Smith, Chris Peterson, Sam Koonce and Denielle Donovan of Atlantic represented the seller in the transaction and secured the buyer, Milan Capital Management. Stephen Joseph of Atlantic arranged acquisition financing on behalf of the buyer. The center was 65 percent occupied at the time …

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GeorgiaInvestment salesNews

Hendon Properties Acquires 85,565-Square-Foot Shopping Center in Georgia

by Hayden Spiess

Austell, Ga. — Hendon Properties has acquired East West Shops, an 85,565-square-foot shopping center located in Austell, Georgia. Concorde Group Holdings sold the property for $15.2 million. OneLife Fitness, Starbucks Coffee and Urgent Team anchor the center, which was 96 percent occupied at the time of sale. Brad Peterson, Scott Israel and Tommy Isola of Colliers brokered the sale on behalf of Concorde. 

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Plaza-Rancho-Del-Oro_Oceanside-Calif
CaliforniaGrocery-anchoredInvestment salesNews

CBRE Negotiates Sale of 65,054-Square-Foot Retail Center in Oceanside, California

by Hayden Spiess

Oceanside, Calif. — CBRE has negotiated the sale of Plaza Rancho Del Oro, a 65,054-square-foot retail center located in Oceanside. A&C Properties sold the center for $34.3 million. Albertsons and Planet Fitness anchor the property, which was 92 percent leased at the time of sale. Other tenants include Starbucks Coffee, My Salon Suites, Upper Crust Pizza, Wells Fargo and Carl’s Jr. Jimmy Slusher, James Tyrrell and Megan Lanni of CBRE represented the seller. Reg Kobzi, Michael Peterson and Joel Wilson of CBRE assisted in closing the transaction. 

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Harmony-Commons_Fort-Collins-Colo
ColoradoInvestment salesNews

Cushman & Wakefield Arranges $14 Million Sale of Shopping Center in Fort Collins, Colorado

by Hayden Spiess

Fort Collins, Colo. — Cushman & Wakefield has arranged the $14 million sale of Harmony Commons, a 25,701-square-foot shopping center located in Fort Collins. Built in 2017, the property comprises two multi-tenant buildings and was 87 percent leased to eight tenants at the time of sale. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller, Urban Village, in the transaction. Joshua Guernsey of Waypoint Real Estate represented the undisclosed buyer. 

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Hudson-Heritage_Poughkeepsie-N.Y
Grocery-anchoredInvestment salesNew YorkNews

CBRE Arranges $34 Million Sale of Retail Center in Poughkeepsie, New York

by Hayden Spiess

Poughkeepsie, N.Y. — CBRE has arranged the $34 million sale of Hudson Heritage, a retail center located in Poughkeepsie. ShopRite anchors the property, which totals 120,499 square feet. Other tenants at the center, which was 92 percent leased at the time of sale, include CVS/pharmacy, Starbucks Coffee, Chipotle Mexican Grill, AT&T, Jersey Mike’s Subs, Burger King and PulseMD. An entity doing business as EFG/Saber Heritage SC LLC sold the property to East Coast Acquisitions. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller in the transaction. 

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CaliforniaInvestment salesMixed-useNews

BH Properties Acquires 405,250-Square-Foot Mixed-Use Property in San Diego

by Hayden Spiess

San Diego — BH Properties has acquired Hazard Center, a 405,250-square-foot mixed-use property located in San Diego. Situated on 14.5 acres, the development features 135,000 square feet of retail space, as well as a 270,000-square-foot office tower. Retail tenants at the property include Barnes & Noble, Orange Theory Fitness, BJ’s Brewhouse, Wood Ranch BBQ & Grill, Which Which Superior Sandwiches and FedEx. Adam Edwards, Justin Shepherd, Michael Kathrein and Bailey Bland of Eastdil Secured marketed the property and acted as advisor to the undisclosed seller. 

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Investment salesNew JerseyNews

TFE Properties Acquires 93,000-Square-Foot Retail Center in New Jersey

by Hayden Spiess

Fair Lawn, N.J. —TFE Properties has acquired River Road Shopping Center, a 93,000-square-foot retail center located in Fair Lawn. Situated on 6.3 acres, the property comprises an 18,825-square-foot single-tenant building occupied by Walgreens, an 18,900-square-foot multi-tenant building and a 54,000-square-foot building that was formerly occupied by grocer ShopRite. The new ownership plans to implement a value-add program at the center. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Ryan Robertson of JLL represented the seller, Bon-Marc Realty Co., in the transaction. TFE Properties was the buyer.

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Whitewater-Plaza
Investment salesNewsWisconsin

Marcus & Millichap Brokers $3.6 Million Sale of Shopping Center in Whitewater, Wisconsin

by Hayden Spiess

Whitewater, Wis. — Marcus & Millichap has brokered the $3.6 million sale of Whitewater Plaza, a 24,211-square-foot shopping center in Whitewater, roughly 50 miles southwest of Milwaukee. Tenants at the property, which was 94 percent occupied at the time of sale, include Jimmy Johns, Anytime Fitness, Cozumel Mexican Restaurant and Beijing Buffet. Dominic Sulo and Sam Malato of Marcus & Millichap represented the undisclosed seller in the transaction. Todd Lindblom assisted in closing the transaction as the firm’s broker of record in the state. 

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LaCenterra-Cinco-Ranch_Katy-Texas
LeasingNewsTexas

Four New Tenants Sign Leases at LaCenterra at Cinco Ranch in Metro Houston

by Hayden Spiess

Katy, Texas — Four new tenants have signed leases at LaCenterra at Cinco Ranch, a shopping center located in Katy, roughly 30 miles outside downtown Houston. Houston TX Hot Chicken, Fidelity Investments, The Salty Donut and Chewy Vet Care will occupy 4,065; 8,000; 1,329; and 3,002 square feet at the property, respectively. JLL manages the center. 

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