Boardman, Ohio — First National Realty Partners has acquired Southland Crossings, a 245,678-square-foot grocery-anchored shopping center located at 1150-1300 Doral Drive in the Youngstown suburb of Boardman. Southland Crossings was 91 percent occupied at the time of sale by tenants including a 77,592-square-foot Giant Eagle Supermarket, Ross Dress for Less, PetSmart, DSW and Michaels.
Frisco, Texas — JLL has arranged the sale of South Frisco Village, a 227,041-square-foot retail center in Frisco, about 28 miles north of Dallas. Ryan Shore, Chris Gerard, Barry Brown and Jack Copher of JLL represented the seller, InvenTrust Properties Corp. Vista Property Co. acquired the property for an undisclosed price. Built in 2001, South Frisco Village has 28 retail suites. The property was 92 percent occupied at the time of sale by tenants such as Bed Bath & Beyond, Jo-Ann Fabrics, Buy Buy Baby and Painted Tree Marketplace.
Boynton Beach, Fla. — Union Investment has acquired the Fountains of Boynton, a five-building grocery-anchored retail center in Boynton Beach. The acquisition is being made on behalf of open-ended real estate fund Unilmmo: Europa. The seller and sales price were not disclosed. Built in 1994 and modernized in 2017, the Fountains of Boynton include 174,996 square feet and is currently fully leased to tenants such as Publix, LA Fitness Signature Club, restaurants and a range of services providers.
Los Angeles — Matthews Real Estate Investment Services has arranged the sale of Manchester Plaza, a retail property located at 520-536 E. Manchester Ave. in Los Angeles. An undisclosed developer sold the asset to a local investor for $5.5 million, or $647 per square foot. The property offers approximately 8,500 square feet of multi-tenant retail space. Joe Nelson of Matthews handled the transaction.
Aurora, Ill. — Marcus & Millichap has brokered the $5 million sale of a 98,765-square-foot retail center located roughly 41 miles outside Chicago in Aurora. Located at 1901 W. Galena Blvd., the property features a mix of retail and medical tenants. Rush-Copley Medical Center, which specializes in family medicine, imaging and obstetrics and gynecology, anchors the center. There are 23,751 square feet available for lease. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local fund manager. The duo also secured the buyer, an Iowa-based limited …
North Wales, Pa. — JLL Capital Markets has arranged the $55 million sale of Montgomery Mall, a 1.1-million-square-foot regional mall at 230 Montgomery Mall in the Philadelphia suburb of North Wales. David Monahan, Jim Galbally, Chris Munley, Cameron Pittman, Colin Behr and Akhil Patel of JLL represented the seller, a CMBS trust. Kohan Retail Investment Group acquired the property. Built in 1977 and last renovated in 2014, Montgomery Mall was 73 percent leased at the time of sale to tenants including Wegman’s, Macy’s, JCPenney, Dick’s Sporting Goods, H&M, Forever 21, …
Tulsa, Okla. — Stan Johnson Co., a retail brokerage firm based in Tulsa, has arranged the sale of three national single-tenant portfolios for $75.5 million. The portfolios consist of 40 properties across seven states that are leased to tenants such as Tractor Supply Co., Dollar General and Advance Auto Parts, among others. Ryan Butler of Stan Johnson Co. represented the undisclosed seller in the off-market transactions. The buyers were also not disclosed.
Petaluma, Calif. — Paragon Commercial Group and Canyon Partners Real Estate have purchased Washington Square, a grocery-anchored shopping center located in the Sonoma County community of Petaluma for an undisclosed price. Situated on the corner of South McDowell Boulevard and East Washington Street, Washington Square features 215,761 square feet of retail space. Current tenants include Bank of America, Wells Fargo, WestAmerica Bank, Planet Fitness, Party City and Pet Food Express.
Easton, Mass. — Atlantic Capital Partners has arranged the sale of Highland Plaza, a 112,869-square-foot shopping center in Easton, located about 30 miles south of Boston. Regional grocer Big Y anchors the property, which was 96 percent leased at the time of sale, with a 56,519-square-foot store. Other tenants include T.J. Maxx and Liberty Mutual. Justin Smith, Chris Peterson, Sam Koonce, Molly Lynch and Ben Starr of Atlantic Capital Partners represented the seller, Phillips Edison & Co., in the deal. The team also procured the undisclosed buyer.
Austin, Texas — Whitestone REIT has acquired 89,746 square feet of inline retail space at Anderson Arbor in northwest Austin. The retail space was built in three phases beginning in 2003 and is part of a larger 268,000-square-foot development. The inline space acquired by Whitestone was 91 percent leased at the time of sale to tenants such as Bank of America, Kerbey Lane Café, Austin Emergency Center, SalonRepublic, Great Clips, GNC, The Melting Pot and Double Dave’s Pizzaworks. Whitestone also has the option to purchase an additional undeveloped parcel and …
