Tuesday, November 26, 2024
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Julia Sanders

Gateway Center
CaliforniaInvestment salesNews

Gerrity Group Sells Gateway Center Retail Center to DJM Capital for $39.5 Million

by Julia Sanders

Million Viejo, Calif. — Gerrity Group has completed the disposition of Gateway Center, a retail center in Orange County’s Mission Viejo. San Jose-based DJM Capital acquired the asset for $39.5 million. Completed in 1979, Gateway Center features 79,001 square feet of retail space. Current tenants include Starbucks Coffee, Cold Stone Creamery, Subway, Baja Fresh, Happy Minds Academy, Oggi’s and San Diego Credit Union. The property is located on 7.3 acres at 23972-24042 Alicia Parkway. Gleb Lvovich, Bryan Ley and Geoff Tranchina of JLL Retail Capital Markets represented the seller in …

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FinanceNew JerseyNews

Houlihan-Parnes Arranges $22.7 Million Refinancing Loan for Shopping Center in Metro Trenton

by Julia Sanders

Lawrenceville, N.J. — Houlihan-Parnes Realtors LLC has arranged a $22.7 million loan for the refinancing of a 393,430-square-foot shopping center in Lawrenceville, a suburb of Trenton. Tenants at the property include Lidl, Starbucks, AutoZone, Five Below and Aspen Dental. Bryan Houlihan and James Houlihan of Houlihan-Parnes arranged the five-year, fixed-rate loan on behalf of the borrower, JJ Operating Inc., a family-owned investment and management firm based in New York City. An undisclosed local bank provided the debt.

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Victory Crossings
GeorgiaInvestment salesNews

Newmark Arranges $22.5 Million Sale of Floor & Décor-Anchored Property in Savannah

by Julia Sanders

Savannah, Ga. — Newmark has arranged the $22.5 million sale of Victory Crossings, a fully-leased, multi-tenant shopping center in Savannah. Mark Joines, Henry Kushner and Drew Fleming of Newmark represented the seller, Morley Investment Group LLC. Situated on approximately 6.9 acres at 1800 E. Victory Drive, Victory Crossings is anchored by Floor & Decor. The center also includes two single tenant outparcel buildings leased to IHOP and Verizon Wireless. Additional major tenants include Orange Theory, Comcast, Hertz, Baldino’s and Benchmark Physical Therapy.

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Gainesville Plaza
FloridaInvestment salesNews

JLL Arranges $19.1 Million Sale of Shopping Center in Gainesville, Florida

by Julia Sanders

Gainesville, Fla. — JLL Capital Markets has arranged the sale of Gainesville Plaza, a 165,705-square-foot shopping center in Gainesville. Brad Peterson and Whitaker Leonhardt of JLL represented the sellers, Wicker Park Capital Management and Riverstone Capital Group, in the transaction. Cobalt Real Estate Solutions, an affiliate of Divaris Real Estate Inc, purchased the property for $19.1 million. Anchored by Burlington and Ross Dress for Less, Gainesville Plaza was 96.7 percent leased at the time of sale to tenants, including 2nd & Charles, Save-A-Lot, Five Below and Hibbett Sports. Built in …

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Investment salesNewsTexas

Partners Capital Buys 98,522-Square-Foot Bay Pointe Shopping Center in Southeast Houston

by Julia Sanders

Houston — Partners Capital has purchased Bay Pointe Shopping Center, a 98,522-square-foot shopping center in southeast Houston. Matt Berry, Robbie Kilcrease and Drew Reinking of CBRE represented the undisclosed seller in the transaction. Veritex Bank provided acquisition financing. The property was fully leased at the time of the sale. The new ownership plans to expand the property by 30,000 square feet.

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Palms Connection
FloridaInvestment salesNews

CBRE Brokers Sale of 29,600-Square-Foot Retail Center in Tampa

by Julia Sanders

Tampa, Fla. — CBRE has brokered the sale of Palms Connection, a 29,600-square-foot retail center in Tampa for $8.5 million. The sale included an undeveloped 0.6 acre outparcel. Mark Shellabarger and Ari Ravi of CBRE in Tampa were brokers on behalf of the buyer, Tampa Venture Alliance LLC, and the seller, Stanley Properties LLC. Located at 2802-2836 East Bearss Ave., Palms Connection is 92 percent leased to 14 tenants including Jimmy John’s, PJ Dolan’s Irish Pub, Bearrs Kitchen & Bar, Wood Fired Pizzeria, Balance Salon and Art of Smoke.

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Smart and Final
CaliforniaInvestment salesNews

Hanley Investment Brokers $8.5 Million Sale of Smart & Final-Occupied Property in Murrieta, California

by Julia Sanders

Murrieta, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a single-tenant retail property located in Murrieta. A San Diego-based private partnership sold the building to Los Angeles-based Anza Drive Properties for $8.5 million. Smart & Final Extra occupies the 20,750-square-foot property, which is situated at the intersection of Madison Avenue and Los Alamos Road, on a net-lease basis. The building was built in 2003. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Kris Hons of Glendale, California-based Stevenson Real Estate …

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IllinoisInvestment salesNews

Marcus & Millichap Arranges $6.5 Million Sale of Walgreens-Occupied Property in Suburban Chicago

by Julia Sanders

Romeoville, Ill. — Marcus & Millichap has arranged the sale of a Walgreens-occupied property in the Chicago suburb of Romeoville for $6.5 million. The 24-hour store is positioned at the entrance to Carillon, a master-planned retirement community. Brian Parmacek and Mitchell Kiven of Marcus & Millichap marketed the property on behalf of the seller, an undisclosed developer. Benjamin Kohl of Marcus & Millichap secured and represented the buyer, an out-of-state private investor. Frank Montalto and Dean Giannakopoulos of Marcus & Millichap Capital Corp. obtained acquisition financing on behalf of the …

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Spartan Square
Investment salesNewsVirginia

Essential Growth, Viking Acquire 180,346-Square-Foot Spartan Square Shopping Center Near Roanoke

by Julia Sanders

Salem, Va. — A joint venture between Essential Growth Acquisition Properties and Viking Partners has acquired Spartan Square, a 180,346-square-foot shopping center in Salem, about 15 miles west of Roanoke. Will Bradley, Mark Williford, Peter Vick and Harrison Hall of Colliers represented the seller, an entity known as Spartan Square LP, in the transaction. The sales price was not disclosed. Anchored by Kroger, Spartan Square was 91 percent leased at the time of sale to tenants including Dollar Tree, Pet Supplies Plus, Starbucks and Truist.

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Investment salesNewsTexas

Steeplechase Ventures Acquires 166,225-Square-Foot Shopping Center in Metro Dallas

by Julia Sanders

Denton, Texas — Steeplechase Ventures LLC has acquired Presidio Plaza, a 166,225-square-foot shopping center located in Denton. The property, which was 91 percent leased at the time of sale, was originally constructed as a regional outlet mall known as Stonehill Center. Adam Howells, Ryan Shore and Matthew Barge of JLL represented the seller, LAD Ventures LLC, which purchased the asset in 2016 and subsequently expanded it, in the transaction.

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