Thursday, November 28, 2024
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Julia Sanders

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Investment salesNewsPennsylvania

IPA Negotiates $52 Million Sale of Penrose Plaza Shopping Center in South Philadelphia

by Julia Sanders

Philadelphia — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $52 million sale of Penrose Plaza, a 258,494-square-foot shopping center in South Philadelphia. Anchored by ShopRite Supermarket, the property was 94 percent leased at the time of sale to tenants such as Planet Fitness, DD’s Discounts, Citi Trends, Fine Wine & Good Spirits and Chase Bank. Brad Nathanson of IPA represented the seller, a joint venture between Onyx Equities, Abrams Realty & Development and Siguler Guff & Co., in the deal. Nathanson also procured the …

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Crystal Cove Commons
FloridaInvestment salesNews

Joint Venture Acquires 120,000-Square-Foot Mixed-Use Property in North Palm Beach

by Julia Sanders

North Palm Beach, Fla. — A joint venture between American Commercial Realty Corp. and Investment Capital Partners has acquired Crystal Cove Commons, a 120,000-square-foot mixed-use property located in North Palm Beach. Robert Rivani of Black Lion Investment Group was the seller. The property includes 73,738 square feet of retail and 46,787 square feet of office space across three floors. Crystal Cove Commons is home to tenants including Cod & Capers, Cucina Cabana, Stormhouse Brewery, Fuse Specialty Appliances, USA Tile & Marble, Crystal Tree Carpet by STARK, Cabinets by Lenore and …

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Investment salesNewsWisconsin

Matthews Brokers $10.7 Million Sale of Home Depot-Occupied Property in Metro Milwaukee

by Julia Sanders

Racine, Wis. — Matthews Real Estate Investment Services has brokered the $10.7 million sale of a Home Depot-occupied retail property in Racine, about 24 miles south of Milwaukee. The asset is located at 2429 S. Green Bay Road near High Ridge Shopping Center. Rob Goldberg and Ben Snyder of Matthews represented the seller, a national private investor. An unnamed REIT was the buyer.

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Walgreens
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $10.5 Million Sale of Walgreens-Occupied Property in Lake Elsinore, California

by Julia Sanders

Lake Elsinore, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $10.5 million sale of a single-tenant retail property occupied by Walgreens in Lake Elsinore. Jeremy McChesney, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, Diamond Properties, in the transaction. Oliver Wang of RE/MAX Premier Properties represented the buyer, a private investor based in Irvine, California. Built in 2011, the 13,676-square-foot building offers a drive-thru and is situated on 1.36 acres at 160 Diamond Drive.

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7301 Husker Cir
Investment salesNebraskaNews

Quantum Arranges $2.5 Million Sale of Restaurant Property in Lincoln, Nebraska

by Julia Sanders

Lincoln, Neb. — Quantum Real Estate Advisors Inc. has arranged the $2.5 million sale of a single-tenant property occupied by Perkins Restaurant & Bakery in Lincoln. The building is located at 7301 Husker Circle. Zack Hilgendorf of Quantum represented the buyer, an Iowa-based private investor. A local developer was the seller.

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5349 W. Baseline Road
ArizonaInvestment salesNews

Marcus & Millichap Arranges $2.1 Million Sale of O’Reilly Auto Parts-Occupied Property in Phoenix

by Julia Sanders

Phoenix — Marcus & Millichap has brokered the $2.1 million sale of a retail building located at 5349 W. Baseline Road in Phoenix. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, an undisclosed partnership, and procured the buyer, an undisclosed limited liability company, in the deal. O’Reilly Auto Parts occupies the 7,000-square-foot property, which was built in 2006. The tenant recently executed its first five-year renewal option with 10 percent rental increases every five years.

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LeasingNewsTexas

JAH Realty Signs 32,000-Square-Foot Lease for Planet Fitness at Keller Crossing in Metro Fort Worth

by Julia Sanders

Keller, Texas — JAH Realty has signed a 32,000-square-foot lease with Planet Fitness at Keller Crossing Shopping Center in Keller, about 17 miles from Fort Worth. William Rosatti represented JAH Realty and Tyler Grisham at Edge Realty Partners represented Planet Fitness in the transaction. Planet Fitness plans to open within the space next year, which was previously occupied by Stein Mart. Keller Crossing is co-anchored by Ace Hardware, Tuesday Morning and Big Lots.

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Central Marketplace
ArizonaInvestment salesNews

ORION Arranges $9.8 Million Sale of Central Marketplace in Suburban Phoenix

by Julia Sanders

Goodyear, Ariz. — ORION Investment Real Estate has brokered the sale of Central Marketplace, a 62,000-square-foot retail center located in the Phoenix suburb of Goodyear. A California-based seller sold the asset to an undisclosed buyer for $9.8 million in an all-cash transaction. Ari Spiro, Sean Stutzman, Michael Achtman and Jennifer Eggert of ORION brokered the transaction. At the time of sale, the center was 98 percent occupied by tenants including 99 Cents Only.

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Investment salesIowaNews

JRW Realty Arranges $10 Million Sale of Hobby Lobby-Occupied Property in West Des Moines, Iowa

by Julia Sanders

West Des Moines, Iowa — JRW Realty has arranged the $10 million sale of a 52,227-square-foot, single-tenant property occupied by Hobby Lobby in West Des Moines. Joel Staffilino and Christopher Thompson of JRW Realty arranged the transaction. Matthews Real Estate Investment Services represented the undisclosed seller in the transaction.

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Investment salesNewsUtah

Matthews Brokers $8.4 Million Sale of Walgreens-Occupied Retail Property in Metro Salt Lake City

by Julia Sanders

Riverton, Utah — Matthews Real Estate Investment Services has arranged the acquisition of a retail property occupied by Walgreens in Riverton, roughly 20 miles outside Salt Lake City. An undisclosed buyer purchased the asset for $8.4 million in a 1031 exchange. Anthony Connell, Preston Schwartz, David Harrington and Chad Kurz of Matthews brokered the transaction.

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