Jamul, Calif. — Commercial Asset Advisors (CAA) has arranged the off-market acquisition of a retail center located in Jamul. Fuel Team Inc. purchased the property from Dan Floit for $6 million. Located 12918-12930 Campo Road, a 7-Eleven gas station anchors the 18,926-square-foot property. Gino Kalasho and Mike Conger of CAA represented the buyer in the transaction.
Decatur, Ind. — Ariel Property Advisors has arranged the $2.8 million refinancing of a 15,000-square-foot retail property occupied by Walgreens in Decatur, about 20 miles southeast of Fort Wayne. The property is located at 123 N. 13th St. Matt Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which features a fixed interest rate of 3.99 percent. A national credit union provided the loan on behalf of the undisclosed borrower.
Gulf Shores, Ala. — Franklin Street has arranged the sale of Pelican Place at Craft Farms, a 220,372-square-foot shopping center in Gulf Shores. Bryan Belk and John Tennant of Franklin Street’s Retail Investment Sales Team represented the seller, an affiliate of RCG Ventures, in the transaction. Octave Holdings purchased the property for $16 million. Pelican Place at Craft Farms was 82.9 percent leased at the time of sale to tenants such as CMX Cinemas movie theater, Books-A-Million, Bed Bath & Beyond and Dollar Tree. The property is shadow-anchored by Target …
Peoria, Ariz. — Thompson Thrift Retail Group has completed the disposition of Sunrise Promenade, a shopping center in Peoria. An undisclosed buyer acquired the center for $18.2 million. Situated at the corner of Lake Pleasant Parkway and Happy Valley Road, Sunrise Promenade features 26,852 square feet of retail space. Current tenants include Aldi, Black Rock Coffee Bar, Club Pilates, Sherwin-Williams, Dip Nail Spa, Harumi Sushi, Wow Wow Hawaiian Lemonade, Stretch Labs, Butta Cakes and Pearle Vision.
Vero Beach, Fla. — Mitchell Gold + Bob Williams Home Furnishings Outlet has opened at Vero Beach Outlets, a 340,000-square-foot outlet center located in Vero Beach. The store opened within an 11,000-square-foot space. Retailers at Vero Beach Outlets include Michael Kors, Coach Outlet, Calvin Klein, Columbia Sportswear, Tommy Hilfiger, Gap Factory, Polo Ralph Lauren Factory Store, Design Within Reach Outlet, Williams-Sonoma Outlet and RH Outlet.
Franklin, La. — Marcus & Millichap has arranged the $4.9 million sale of a 14,820-square-foot retail property located at 2030 Main St. in Franklin. The property is net-leased to Walgreens. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company, in the transaction. David Cutler, Joshua Johnson and Kirk Trammell of Marcus & Millichap represented the buyer, also a limited liability company. Chris Shaheen of Marcus & Millichap assisted in closing the transaction.
Jupiter, Fla. — A joint venture between JB Capital Management and Royce Properties has acquired Fresh Market Village, located roughly 19 miles outside Palm Beach in Jupiter, for $25.5 million. Justin Smith of Atlantic Retail brokered the disposition of the property by Adar Jupiter LLC. The 55,046-square-foot center was 97 percent leased at the time of sale to tenants including The Fresh Market, 2 Vinez Restaurant & Wine Bar, Starbucks Coffee, Casa Mia and Gretchen Scott Designs.
Manassas, Va. — Cushman & Wakefield | Thalhimer has arranged the sale of Portsmouth Station Shopping Center, a 147,305-square-foot neighborhood retail center located roughly 31 miles outside Washington, D.C. in Manassas, Virginia. Petroleum Marketing Group acquired the property for $19.5 million. Catharine Spangler of Cushman & Wakefield | Thalhimer’s Capital Markets Group arranged the sale. Sharon Schmidt and Berkley Mitchell with Thalhimer’s Fredericksburg office will handle leasing for the center. The property was 78 percent leased at the time of sale to 20 tenants including Regency Furniture and Aldi. The …
Columbus, Ohio — Center Square, a company specializing in community events and entertainment centers, has leased a 33,000-square-foot warehouse at 225 Neilston St. in the historic Warehouse District of Columbus. The company plans to transform the building into The Kee, a community center with an indoor-outdoor event venue and a restaurant and bar. The landlord, Hackman Capital Partners, owns the majority of the real estate in the Warehouse District. Clayton Davis and Alex Ashworth of JLL represented both the landlord and the tenant in the lease transaction. Center Square plans …
Castle Rock, Colo. — Marcus & Millichap has arranged the $3 million acquisition of Encore Castle Rock, a retail building located at 20 Wilcox St. in Castle Rock. Cory Gross of Marcus & Millichap’s Denver office represented the buyer, an undisclosed private investor, in the transaction. Well State Healthcare is a tenant at the 8,297-square-foot property. The buyer plans to open a coffee shop and fitness facility at the building, according to Marcus & Millichap.
