Wednesday, November 27, 2024
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Julia Sanders

Chipotle
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $8.2 Million Sale of Multi-Tenant Retail Property in Orange County

by Julia Sanders

Orange County, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $8.2 million sale of a multi-tenant retail pad located at Foothill Ranch Towne Centre in Orange County. The 6,873-square-foot building was fully leased at the time of sale to Chipotle Mexican Grill, Firehouse Subs and Guidepost Montessori. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, Thomas English Real Estate, in the transaction. Jack Nersesian of DAUM Commercial Real Estate Services represented the buyer, a private investor from Glendale, California.

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Starbucks
Investment salesNewsVirginia

McCaffery Interests Sells Two-Tenant Retail Property in Metro D.C. for $4 Million

by Julia Sanders

Arlington, Va. — McCaffery Interests Inc. has sold a 3,100-square-foot retail property located roughly five miles outside Washington, D.C., in Arlington for $4 million. Built in 1979, the 3,100-square-foot, two-story property was occupied by Wireless Rxx and Starbucks Coffee at the time of sale. Andrew Fallon and Rick Fernandez of SRS represented the seller in the disposition of the property to an undisclosed, Virginia-based private buyer operating in a 1031 exchange.

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Chipotle
Investment salesMichiganNews

Boulder Group Negotiates $2.8 Million Sale of Chipotle-Occupied Property in Suburban Detroit

by Julia Sanders

Royal Oak, Mich. — The Boulder Group has negotiated the $2.8 million sale of a single-tenant retail property net leased to Chipotle Mexican Grill in Royal Oak, a northern suburb of Detroit. The 2,400-square-foot building is located at 305 W. 11 Mile Road. Chipotle has a 12-year lease at the property. Randy Blankstein and Jimmy Goodman of Boulder Group represented the buyer, a West Coast-based private individual. A Midwest-based real estate investment firm was the seller.

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Sigmond
Company newsFloridaNews

Pacific Star Capital Appoints Wright Sigmund as Principal

by Julia Sanders

Miami, Fla. — Pacific Star Capital has appointed Wright Sigmund as principal. In his new role, Sigmund will lead the Miami-based company’s operations and the overall growth of the firm as it focuses on expanding its portfolio of essential-tenant focused developments. Sigmund previously worked with First Washington Realty Inc. as senior vice president and national director of leasing.

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Aaron Wu
Company newsNew YorkNews

DLC Management Corp. Names Aaron Wu Vice President, Head of Acquisitions

by Julia Sanders

Elmsford, N.Y. — DLC Management Corp has named Aaron Wu vice president and head of acquisitions. In his new role, Wu will lead the company’s acquisitions platform by exploring ways to create growth for the portfolio and collaborating with others to establish strategic investments. Prior to joining DLC, Wu most recently served as managing director and head of acquisitions for AmCap Incorporated.

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Westland Mall
FloridaInvestment salesNews

Centennial Acquires 835,000-Square-Foot Westland Mall in Metro Miami

by Julia Sanders

Hialeah, Fla. — Centennial has acquired Westland Mall, an 835,000-square-foot regional shopping center located roughly 11 miles outside Miami in Hialeah. The seller and sales price were not disclosed. Westland Mall has been open for over 50 years. The shopping center is home to nearly 100 tenants, including Macy’s, J.C. Penney, Bath & Body Works, Finish Line, Pandora, G by Guess, Victoria’s Secret, H&M, T-Mobile, Outback Steakhouse, Chili’s Grill & Bar, Subway and IHOP.

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LBX
CaliforniaInvestment salesNews

DJM, PGIM Real Estate Acquire 246,500-Square-Foot Open-Air Center in Long Beach

by Julia Sanders

Long Beach, Calif. — DJM, in partnership with PGIM Real Estate, has purchased Long Beach Exchange, an open-air lifestyle center located in Long Beach. The property was sold by Burnham-Ward Properties for an undisclosed price. Eastdil brokered the transaction. Built in 2018, the 26-acre Long Beach Exchange features 246,500 square feet of retail space. Current tenants include Whole Foods Market, Handel’s, Orange Theory, Ra Yoga, Silverlake Ramen, Ulta Beauty and Nordstrom Rack.

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Fallbrook
CaliforniaInvestment salesNews

Gerrity Group Divests of Fallbrook Mercantile Center Near San Diego for $27.2 Million

by Julia Sanders

Fallbrook, Calif. — Gerrity Group has completed the disposition of Fallbrook Mercantile Center, a 70,411-square-foot retail center in Fallbrook. A private investor acquired the asset for $27.2 million. Major Market anchors the property, which is situated on 6.5 acres at 713, 825, 833 and 835-855 S. Main Ave. At the time of sale, the property was 97 percent occupied by tenants including Anytime Fitness, Denny’s, Sherwin-Williams, H&R Block, Jersey Mike’s Subs, Burger King, United Studios of Self Defense, Bella Dental Group and Pho House and Grill. Gleb Lvovich, Bryan Ley …

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Honey Creek Marketplace
IndianaInvestment salesNews

Stan Johnson Co. Negotiates $22.3 Million Sale of Retail Center in Terre Haute, Indiana

by Julia Sanders

Terre Haute, Ind. — Stan Johnson Co. has negotiated the $22.3 million sale of Honey Creek Marketplace in Terre Haute, about 80 miles southwest of Indianapolis. The 107,733-square-foot shopping center is located at 4428 S. U.S. Highway 41. The property was fully leased to seven tenants at the time of sale including Fresh Thyme Farmers Market and Academy Sports + Outdoors. Mark Lovering of Stan Johnson represented the seller, a Texas-based developer. Christian Tremblay of Stan Johnson represented the buyer, a Wisconsin-based institutional investor.

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SummerHills Plaza
CaliforniaInvestment salesNews

Citivest Sells Four Parcels Within Sacramento-Area Shopping Center for $16.8 Million

by Julia Sanders

Citrus Heights, Calif. — Citivest Commercial Investments has completed the disposition of four parcels located within SummerHills Plaza, a 135,000-square-foot, grocery-anchored shopping center in the Sacramento area community of Citrus Heights. Ethan Conrad Properties acquired the parcels for $16.8 million. Originally constructed in 1967 and refurbished in 2020, the property is occupied by Raley’s, Dollar Tree, Round Table Pizza and Dutch Bros. Coffee. Bill Rose of Institutional Property Advisors, a division of Marcus & Millichap, and Edward Nelson and Wyatt Figeroa of Marcus & Millichap represented the seller and procured …

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