Phoenix — An entity formed by Allard Developments has purchased Arcadia Fiesta, a shopping center located at the southwest corner of 32nd Street and Indian School Road in Phoenix. An entity formed by a joint venture between DeRito Partners and Van Tuyl Cos. sold the asset for $41.6 million. The 154,436-square-foot center was fully leased at the time of sale. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the seller in the transaction.
Atlanta — JLL Capital Markets has arranged the sale of Crossroads South, a 201,404-square-foot, Kroger-anchored retail center in Atlanta. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the undisclosed seller. First National Realty Partners acquired the property for $16.2 million. Located at 7965 Tara Blvd., the property was 92 percent leased at the time of sale to tenants including Badcock Furniture & More, Roses, Subway, H&R Block, Shoe Show and Top Nails. Kroger has plans to construct and operate a Kroger Fuel Center at the property.
Atlanta — CBRE National Retail Partners has brokered the sale of Park Place, an 82,097-square-foot retail property in Atlanta’s Central Perimeter. Edens purchased the center from Coro Realty Advisors for an undisclosed amount. Chris Decoufle, Kevin Hurley and Matt Karempelis of CBRE represented the seller in the transaction. Built in 1978, the property was 92 percent occupied at the time of sale by tenants including Alon’s Bakery and Market, Fidelity Investments, Jared Galleria of Jewelry, Allen Edmonds, Expedia Travel, Balance Salon and The Brass Tap.
Woodland Park, Colo. — Institutional Property Advisors (IPA) has brokered the $10.3 million sale of Gold Hill Shopping Center, a 47,978-square-foot multi-tenant retail center in Woodland Park, about 19 miles from Colorado Springs. The center was fully occupied at the time of sale by tenants including City Market and Wendy’s. Ryan Bowlby and Drew Isaac of IPA represented the undisclosed buyer and secured the undisclosed seller in the transaction.
Wilmette, Ill. — The Boulder Group has brokered the sale of a portfolio of properties net leased to Dollar General for $5.4 million. The four single-tenant buildings are located in Battle Creek, Michigan; Bedford, Indiana; Sheffield, Illinois; and Streator, Illinois. Randy Blankstein and John Feeney of Wilmette-based Boulder represented the seller, a West Coast-based private individual, as well as the buyer, a Midwest-based institution. Each property has 10 to 12 years remaining on its lease term.
Gainesville, Fla. — Marcus & Millichap has arranged the $4.4 million sale of Hunter’s Walk, a 13,200-square-foot retail property in Gainesville. James Medefind, Jim Shiebler and James Garner of Marcus & Millichap represented the undisclosed seller. Located at 5141 NW 43rd St., the center was occupied by tenants including Cedar River Seafood, Bella Nail Salon, H&R Block, Salon Centric, KB Design & Remodel, Adam’s Rib Co., Goodwill and Yo3 Metro Frozen Yogurt at the time of sale.
Carlsbad, Calif. — Tooley Interests LLC has purchased Carlsbad Village Plaza, a grocery-anchored shopping center in Carlsbad. Balboa Retail Partners sold the property for $23.5 million. Located 945-1065 Carlsbad Village Drive, the center features 58,735 square feet of retail space. Smart & Final Extra anchors the property. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal.
Lexington, Ky. — SVN | Stone Commercial Real Estate has brokered $5.8 million sale of Todds Center, a 30,418-square-foot shopping center located on Man O’ War Blvd. in Lexington. Matt Stone and Neal Metcalfe of SVN | Stone Commercial Real Estate represented the undisclosed seller in the transaction. Jamie Adams and J.L. Cannady of NAI Isaac represented the undisclosed buyer of the property. SVN Stone Commercial Real Estate has managed and leased the shopping center for the past eight years.
Vero Beach, Fla. — Marcus & Millichap has arranged the $5.3 million sale of Vero Beach Square, an 11,480-square-foot retail strip center in Vero Beach. Drew Kristol, Kirk Olson and Marc Yaffe of Marcus & Millichap represented the seller, Konover South, and the buyer, Ross Realty Investments Inc., in the transaction. The center was 88 percent leased at the time of sale to tenants including Dunkin’ Donuts, Jersey Mike’s Subs, Tropical Smoothie Cafe and Supercuts. The property is shadow-anchored by Tire Kingdom and Murphy’s Gas.
Columbus, Ga. — Mag Mile Capital has secured $3 million in acquisition financing for a triple-net-leased retail property located at 3498 Victory Drive in Columbus. The 3,648-square-foot retail property is fully leased to Caliber Car Wash. Paula Mello and Matt Weilgus of Mag Mile Capital arranged the 10-year, fixed-rate loan through an undisclosed regional credit union on behalf of the borrower, Freeport Equity. The loan features a 25-year amortization schedule.
