Hoffman Estates, Ill. — Marcus & Millichap has brokered the $8 million sale of a 61,047-square-foot retail property net leased to grocer Valli Produce in Hoffman Estates. The building is located about 30 miles northwest of Chicago at 850 N. Roselle Road. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local private investor. The Florida-based buyer completed a 1031 exchange. Brian Stulak of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer. Valli Produce recently signed a 10-year lease …
Champaign, Ill. — Quantum Real Estate Advisors Inc. has negotiated the $4.3 million sale of a 24,454-square-foot retail center in Champaign. Located at 2012-2032 N. Prospect Ave., the property is home to tenants including David’s Bridal, America’s Best Eyewear, Little Caesars Pizza and Sally Beauty. Chad Firsel and Jason Lenhoff of Quantum represented the seller, Core Acquisitions LLC. A private real estate investor was the buyer.
Colonial Heights, Va. — United Hampshire US REIT has acquired Colonial Square, a 168,326-square-foot grocery-anchored shopping center located at 3107 Blvd. in Colonial Heights, a suburb of Richmond. Located off Interstate 95, Colonial Square was 99 percent leased at the time of sale to tenants including Publix, Locke Supply Co., Wells Fargo and Dollar General. Jordan Lex, Daniel Naughton and Bill Moylan of JLL represented the seller, Colonial Square Associates.
Miami and Miami Lakes, Fla. — BurgerFi will open three new corporately owned restaurants in the Miami metropolitan area next year, including locations in Miami’s Health District and South Beach, as well as the suburb of Miami Lakes. The company’s new locations will feature a smaller footprint prototype designed to help increase distribution points for digital ordering and off-premise dining. A 2,002-square-foot BurgerFi will open in February 2022 at 1674 Meridian Ave. in South Beach; a 1,204-square-foot BurgerFi will open within the River Landing mixed-use project in May 2022 at …
Goodlettsville, Tenn. — Dollar General (NYSE: DG) has unveiled plans to open approximately 1,000 new Popshelf stores by the end of fiscal year 2025, including roughly 100 stores in fiscal year 2022. Each Popshelf store spans approximately 9,000 square feet and offers seasonal and home décor, health and beauty products, cleaning supplies and party goods. The target customer is primarily female, lives in the suburbs and maintains an annual household income ranging from $50,000 to $125,000, according to the retailer. Dollar General, which is based in Goodlettsville near Nashville, debuted …
Corona, Calif. — Barret Woods & OERP LLC has purchased The Shops at Dos Lagos, a lifestyle shopping center in Corona, for $47.4 million. Built in 2006, the center offers 351,200 square feet of retail space on 47.4 acres with four in-line shop buildings, four ground-leased restaurant pads, a 15-screen movie theater and a 7,000-square-foot pad available for lease or development. Current tenants include Trader Joe’s, Express, Sunglass Hut, Bath & Body Works, Daniel’s Jewelers, Sleep Number, Papaya, Fatburger, Pinkberry, Miguel’s California Mexican Cocina, Woodranch BBQ & Grill, RA Sushi, …
Glen Ellyn, Ill. — JLL Capital Markets has brokered the $30.2 million sale of Market Plaza in the Chicago suburb of Glen Ellyn. Jewel-Osco anchors the 166,572-square-foot retail center. Built in 1965 and renovated in 2009, Market Plaza is home to tenants such as Ross Dress for Less, Dollar Tree, Staples, Sherwin-Williams, Sweet Basil, H&R Block, Royal Nail and Spa and Goldfish Swim School. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, RPT Realty. North American Real Estate Group was the buyer.
Milford, Conn. — CBRE has negotiated the $11 million sale of Milford Plaza, a 180,315-square-foot shopping center located in the southern coastal city of Milford. Anchored by G-Mart, the property was 65 percent leased at the time of sale to tenants including Planet Fitness, Dollar Tree and Hartford Healthcare. Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer and Travis Langer of CBRE represented the owner, The Hampshire Cos., in the transaction. The team also procured the buyer, Northpath Investments.
Myrtle Beach, S.C. — Twin Peaks has signed a lease to open a new restaurant at Myrtle Beach Mall. United Development Co., owner and operator of Myrtle Beach Mall, arranged the lease for Twin Peaks. The restaurant will open in an 11,600-square-foot space and will feature a Topgolf Swing Suite, selection of arcade games, 32 beers on tap and 76 televisions. Tenants at Myrtle Beach Mall include AMC, Bass Pro Shops, Belk, Books-A-Million, Overstock Furniture and Chick-fil-A.
Sacramento, Calif. — Donahue Schriber has sold Town & Country Village, a dual grocery-anchored shopping center in Sacramento, to Phillips Edison & Co. for an undisclosed price. Trader Joe’s and Sprouts Farmers Market co-anchor the 216,320-square-foot center. At the time of sale, the property was 91 percent leased to tenants including Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx and Five Below. Town & Country Village is situated on 19 acres at 2601-2651 and 2717-2805 Marconi Ave. Originally constructed in 1950, the asset was most recently renovated between …