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Julia Sanders

North Shops
Investment salesNewsVirginia

SRS Brokers $8.2 Million Sale of Retail Center in Central Virginia

by Julia Sanders

Christiansburg, Va. — SRS Real Estate Partners has brokered the $8.2 million sale of North Shops at Spradlin Farm, a 17,290-square-foot, multi-tenant retail center in Christiansburg. Britt Raymond, Kyle Fant, Matthew Mousavi and Patrick Luther of SRS represented the seller, a North Carolina-based shopping center investment fund. Tyler Price of Price Richards Commercial represented the buyer, a California-based investment firm, in the 1031 exchange transaction. Built in 2000, North Shops at Spradlin Farm was fully occupied at the time of sale by tenants including Mattress Firm, AT&T, Supercuts and MedExpress. …

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P.F. Chang
Investment salesNewsOhio

Cooper Group Negotiates Sale of P.F. Chang’s-Occupied Property Near Cleveland for $3.8 Million

by Julia Sanders

Beachwood, Ohio — The Cooper Commercial Investment Group has negotiated the $3.8 million sale of a single-tenant property occupied by P.F. Chang’s in Beachwood, about 19 miles from Cleveland. The restaurant’s lease expires in 2025. Dan Cooper of Cooper Group represented the seller, a private investment group, and procured the all-cash buyer. The property sold for $543 per-square-foot and at approximately 98 percent of the list price.

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CaliforniaInvestment salesNews

Progressive Arranges $8 Million Sale of Circle K-Anchored Center in Southern California

by Julia Sanders

Redlands, Calif. — Progressive Real Estate Partners has arranged $8 million of The Grove, a Circle K-anchored neighborhood center in Redlands. The 39,339-square-foot property is situated at 1542-1598 Orange St. Greg Bedell of Progressive Real Estate Partners represented the Los Angeles County-based seller. Melody Waltz of Realty Executives Riverside represented the buyer, a Riverside County-based private investor group. Built in two phases in 1987 and 1990, The Grove was 80 percent occupied at the time of sale by a mix of businesses including restaurants, beauty users and other services with …

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Edens Plaza
IllinoisInvestment salesNews

Newport Capital Partners Sells Edens Plaza Shopping Center in Suburban Chicago for $110 Million

by Julia Sanders

Wilmette, Ill. — Newport Capital Partners has sold Edens Plaza in Wilmette, about 18 miles from Chicago, for $110 million. WS Development was the buyer. The shopping center spans 350,000 square feet. Current tenants include The Fresh Market, Walgreens, Chicagoland Children’s Health Alliance, Starbucks Coffee and Big Blue Swim School. The property also comprises a two-story department store that was formerly occupied by Carson Pirie Scott and is currently vacant. Newport acquired Edens Plaza in 2018 and the vacant department store in 2019. WS plans to open the first-ever bricks-and-mortar …

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The Forum
GeorgiaInvestment salesNews

North American Properties, Nuveen Acquire Mixed-Use Property in North Atlanta Suburb

by Julia Sanders

Peachtree Corners, Ga. — North American Properties and Nuveen Real Estate have acquired The Forum on Peachtree Parkway, a 500,000-square-foot shopping center in Peachtree Corners, about 22 miles from downtown Atlanta. Originally opened in 2002, The Forum on Peachtree Parkway is an open-air lifestyle center that is home to a mix of retail, restaurants and office space, including lululemon, Pottery Barn, Trader Joe’s and Ulta Beauty. Property amenities include walking trails, property-wide Wi-Fi, outdoor seating areas and a pedestrian bridge connecting to Peachtree Corners Town Center. North American Properties has …

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Midtown Miami
FloridaInvestment salesNews

Marcus & Millichap Arranges $23 Million Sale of Retail Portfolio in Miami

by Julia Sanders

Miami — Marcus & Millichap has arranged the $23 million sale of a 17-suite retail portfolio in Miami dubbed Midtown Miami. The portfolio is occupied by tenants such as Citi Bank, 305 Kicks, Calligaris, Wynwood Tattoo and Galerie Monnin. Alex Zylberglait, Alejandro D’Alba and Scott Sandelin of Marcus & Millichap represented the seller, Block Capital Group, and procured the buyer, Rüger Holding KG. Robert Bhat of Marcus & Millichap arranged an undisclosed amount of acquisition financing for the buyer. The Midtown Miami retail portfolio features two buildings totaling 24,925 square …

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Shoppes of Lake Worth
FloridaInvestment salesNews

Current Capital Management Acquires Two Shopping Centers in South Florida for $12.8 Million

by Julia Sanders

Lake Worth Beach and West Palm Beach, Fla. — Current Capital Management has acquired two shopping centers in Lake Worth Beach and West Palm Beach for $12.8 million. Todd Nepola of Current Capital Management led the acquisition transaction for his company. Raj Gupta and Anita Gupta of Chatam Management were the sellers. Benedict Gutierrez of Marcus & Millichap arranged the transaction. Matthew Korshoff of South State Bank provided a $9 million loan for the acquisition. The two centers acquired were Coco Plum Plaza, a 43,801-square-foot retail center located at 2845 …

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GeorgiaInvestment salesNews

Stan Johnson Co. Arranges $8.5 Million Sale of Four Dollar General Locations Across Georgia

by Julia Sanders

Bishop, Colbert, Cornelia and Loganville, Ga. — Stan Johnson Co. has arranged the sale of four Dollar General locations in Bishop, Colbert, Cornelia and Loganville. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the 1031 exchange buyer in all transactions. The four sellers were private investors based in Alabama, California and Georgia. Together, the four properties were sold for $8.5 million. Combined, the properties total nearly 38,000 square feet and are occupied under long-term net leases. The Colbert location was a Dollar General Plus, a concept larger than …

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Avenue Shoppes
FloridaInvestment salesNews

Navarra Investments Sells Avenue Shoppes Retail Center in Orlando for $8.1 Million

by Julia Sanders

Orlando, Fla. — Navarra Investments LLC has sold Avenue Shoppes, a 42,196-square-foot retail strip center and outparcel in Orlando, for $8.1 million. John Krzyminski and Max Krzyminski of JLL represented the seller and procured the buyer, House Reform Group. Originally constructed in 1988, Avenue Shoppes was most recently renovated in 2020 when the seller implemented a capital improvement plan to reposition the property. The property was 94 percent leased at the time of sale to tenants including Euro Living, Wallcoverings Mart, Toxic Lounge, Greenberg Dental, GL Staffing, Little New Orleans, …

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Champions Village
Investment salesNewsTexas

JLL Arranges Sale of 383,346-Square-Foot Power Center in Northwest Houston

by Julia Sanders

Houston — JLL has arranged the sale of Champions Village, a 383,346-square-foot retail power center situated on 31.5 acres in northwest Houston. Retailers at the property include grocer Randalls, Barnes & Noble, T.J. Maxx, Tuesday Morning, Kirklands, Jenny Craig, Supercuts, Bath & Body Works, Body & Brain Yoga and Berkeley Eye Center. Restaurant users include La Madeleine, Don Ramons Mexican Restaurant, Cassandra’s Louisiana Kitchen and MOD Pizza. Chris Gerard, Ryan West, Sherri Rollins and Ethan Goldberg of JLL represented the seller, New Market Properties LLC, a subsidiary of REIT Preferred …

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