Wednesday, November 27, 2024
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Julia Sanders

Hemet
CaliforniaInvestment salesNews

Progressive Real Estate Negotiates $1.7 Million Sale of Development Site in California

by Julia Sanders

Hemet, Calif. — Progressive Real Estate Partners has negotiated the sale of a 3.3-acre commercial land parcel in Hemet. Sater Hemer LLC acquired the property from an undisclosed seller for $1.7 million. The buyer plans to develop a gas station, car wash and drive-thru restaurant on the site, which is located at the northeast corner of Florida and Soboba avenues. Neither a timeline nor specific development plans have been released. Chris Lindholm of Progressive Real Estate Partners represented both parties in the transaction.

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Tivoli Village
Investment salesNevadaNews

3D Investments Acquires Tivoli Village Mixed-Use Development in Las Vegas for $216 Million

by Julia Sanders

Las Vegas — 3D Investments has purchased Tivoli Village, an open-air, mixed-use property located at 400 S. Rampart Blvd. in Las Vegas. Property and Building Corp. and IDB Group USA sold the center for $216 million. Built in 2009 and 2016, Tivoli Village features 669,406 square feet of Class A office, retail and restaurant space across 28 acres. Additionally, the property includes an 8.3-acre development parcel entitled for more than 300 residential units. Marlene Fujita Winkel of Cushman & Wakefield’s Las Vegas office represented the seller in the deal. Dave …

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DevelopmentFloridaNews

St. Joe Co. Breaks Ground on 350,000-Square-Foot Shopping Center in Panama City Beach, Florida

by Julia Sanders

Panama City Beach, Fla. — St. Joe Co. has broken ground on Watersound West Bay Center, a 350,000-square-foot shopping center located in Panama City Beach. The project will include a mix of retail, restaurant, office and medical space. Site work on the project is underway, with vertical construction scheduled to begin in the fall. St. Joe Co. plans to build the project to feature golf cart and pedestrian connectivity. Other plans include mixed-use buildings with first floor shopping and dining options and second floor office space, as well as a …

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Beaufort Station
DevelopmentNewsSouth Carolina

Morgan Cos. to Develop 200,000-Square-Foot Shopping Center in South Carolina

by Julia Sanders

Beaufort, S.C. — The Morgan Cos. has plans to develop Beaufort Station, a 200,000-square-foot shopping center in Beaufort. The firm acquired 31 acres for the project. The sales price and seller for the land were not disclosed. Construction is expected to start this quarter, with the project set for completion by the fall of 2023. The shopping center will be home to tenants including Hobby Lobby, Ross Dress for Less, Ulta Beauty and Old Navy. Zach Means of Divaris Real Estate Inc. represented The Morgan Cos. in the land transaction, …

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shopping center
ColoradoInvestment salesNews

NavPoint Real Estate Brokers Sale of 126,471-Square-Foot Shopping Center in Colorado Springs

by Julia Sanders

Colorado Springs, Colo. — NavPoint Real Estate Group has arranged the sale of Carefree Shopping Center, a retail property located at 3315-3541 N. Academy Blvd. in Colorado Springs. DCP Carefree sold the center to Alturas Real Estate Fund for $15.8 million. At the time of sale, the 126,471-square-foot property was 98 percent occupied by tenants including Family Dollar, Metro PCS, Human Bean Coffee, Pizza Hut and New Horizons Thrift Store. Matt Call and Collin Tedesco of NavPoint Real Estate Group handled the transaction.

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CaliforniaInvestment salesNews

Pine Tree Acquires Shopping Center in Glendale, California for $64 Million

by Julia Sanders

Glendale, Calif. — Pine Tree, in partnership with a U.S. state pension fund, has acquired Glendale Marketplace, a 154,049-square-foot shopping center located in downtown Glendale. An undisclosed seller sold the property for $64 million. JLL Capital Markets brokered the sale. Situated at the intersection of South Brand Boulevard and East Harvard Street, Glendale Marketplace is home to tenants including LA Fitness, HomeGoods, Ross Dress for Less, Five Below, Buffalo Wild Wings and Old Navy.

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FloridaInvestment salesNews

JLL Arranges $13 Million Sale of Shopping Center in Ocala, Florida

by Julia Sanders

Ocala, Fla. — JLL Capital Markets has arranged the $13 million sale of the Boyd Market Center, a 102,066-square-foot retail center in Ocala. Brad Peterson, Whitaker Leonhardt, Michael Brewster and Eric AmRhein of JLL represented the seller, an undisclosed real estate and finance company. V3 Commercial Advisors advised the buyer, V3 Capital Group LLC. Located at 2800 SW 24th Ave., Boyd Market Center was 95.7 percent leased at the time of sale to tenants including Conn’s Home Plus, Plant Fitness, Shoe Carnival, Moe’s Southwest Grill, GameStop and CSL Plasma.

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Investment salesMassachusettsNews

IPA Negotiates Sale of 56,832-Square-Foot Grocery Store in Metro Springfield

by Julia Sanders

Belchertown, Mass. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14.6 million sale of a 56,832-square-foot retail property occupied by Stop & Shop in Belchertown, roughly 18 miles outside Springfield. The buyer and seller were not disclosed. Jim Koury and Marty Cohan of IPA brokered the deal.

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Firehouse Subs
LeasingNewsTexas

Woodmont Co. Arranges Two Leases for Firehouse Subs in Dallas-Fort Worth Area

by Julia Sanders

Cross Roads and Red Oak, Texas — Woodmont Co. has arranged two leases for Firehouse Subs in the Dallas-Fort Worth area. First, Firehouse Subs signed a 1,500-square-foot lease at Village at Cross Roads located at 11700 US Highway 380 in Cross Roads. Edge represented the landlord, Irish Tiger Investments LLC. The sandwich chain also signed a 1,200-square-foot lease at a retail center located at 106 East Ovilla Road in Red Oak. Gilbert Realty Group represented the landlord, Annadon LLC. Grant Gary and Kendall Graff of The Woodmont Co. represented Firehouse …

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Lakeside Town Shops
FloridaInvestment salesNews

RK Centers Acquires Retail Property in Davie, Florida for $28.7 Million

by Julia Sanders

Davie, Fla. — RK Centers has acquired Lakeside Town Shops, a 79,746-square-foot retail property in Davie, for $28.7 million. An entity known as Lakeside Town Shops LLC, which is managed by Columbia, South Carolina-based Edens, was the seller. Dennis Carson of CBRE represented the seller and the buyer in the transaction. Lakeside Town Shops features three buildings on 10.3 acres. The property was 98 percent leased at the time of sale to 25 tenants, including Dollar Tree, Ross Dress for Less, Target SuperCenter and Chick-fil-A.

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