Buford, Ga. — Hanley Investment Group has arranged the sale of Holland Point, a 68,187-square-foot, Publix-anchored neighborhood shopping center in the Atlanta suburb of Buford. Ed Hanley and Kevin Fryman of Hanley Investment Group, along with ParaSell Inc., represented the 1031 exchange buyer, a private investor based in Norco, California. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, Watkins Real Estate Group, which sold the property for $20.1 million. Holland Point was built in 2020 on a 16-acre site at 4108 Hamilton Mill Road. The center …
Julia Sanders
Union City, Ga. — SRS Real Estate Partners has arranged the sale of Shannon Crossing, a 101,174-square-foot, Kroger-anchored shopping center located in Union City, about 17 miles south of downtown Atlanta. Forge Real Estate Partners III LP, a joint venture between Forge Capital Partners and The Sembler Co., sold the property for $19.4 million to an Atlanta-based entity doing business as Flesh and Soul Enterprises LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller and the buyer was self-represented in the transaction. Located at 4550 Jonesboro Road, the …
Dubuque, Iowa — JLL Capital Markets has arranged the sale of Warren Plaza in Dubuque for an undisclosed price. Anchored by Hy-Vee, the shopping center spans 91,588 square feet. Other tenants at the property include UPS, SuperCuts, Jersey Mike’s, Miracle Ear, Grand River Medical Group and OneMain Financial. Clinton Mitchell, Amy Sands, Michael Nieder, Kirstey Lein and Marcus Pitts of JLL represented the seller, The DESCO Group, in the disposition of the property to a Midwest-based private investment fund.
Cerritos, Calif. — Pinnacle Real Estate Advisors has brokered the $14.8 million sale of a retail center located at 12221-17312 Norwalk Blvd. in Cerritos, roughly 19 miles south of downtown Los Angeles. The names of the seller and buyer were not disclosed. The 52,382-square-foot property is anchored by a grocery store. Peter Sengelmann, Eric Diesch and Jackson Coon of Pinnacle Real Estate Advisors represented the seller in the deal.
Virginia Beach, Va. — Colliers has arranged the $6.4 million sale of Buckner Plaza, a 63,500-square-foot shopping center located at 3208 Holland Road in Virginia Beach. Jeffrey Fritz and Jay O’Donnell of Colliers represented the seller, Club Forest Buckner LLC, and Michael Ettel of Colliers represented the buyer, VB-GC-RA 18 LLC. Buckner Plaza is located on a 5.5-acre parcel along Holland Road. The property was 95.4 percent leased at the time of sale to tenants including Food Lion and Dollar General.
Prairieville, La. — SRS Real Estate Partners has arranged the $2.6 million ground-lease sale of a McDonald’s-occupied, 4,268-square-foot retail property located at 15022 Airline Highway in Prairieville, about 22 miles south of Baton Rouge. Newly built, the property includes a drive-thru and is situated on 1.4 acres near Interstate 10. The McDonald’s is slated to open by late September. Matthew Mousavi, Patrick Luther and Sabrina Kortlandt of SRS represented the seller, a Baton Rouge-based private investor who has owned the land for more than 60 years. Jeff Li of Colliers …
Evans, Ga. — The Palomar Group has brokered the $2.3 million sale of a Starbucks Coffee-occupied retail property located at 3104 William Few Parkway in the Augusta suburb of Evans. The buyer was an investor based in Aiken, South Carolina, and the seller was an investor based in Augusta, Georgia. The Palomar Group was the only broker involved in the transaction. Built in 2021, the retail property spans 2,500 square feet. Starbucks Coffee has a 10-year lease and no termination clause at the property. The store is an outparcel of …
Philadelphia — Paramount Realty Services has sold Northeast Tower Center, a 500,000-square-foot regional shopping center located at 4600 Roosevelt Blvd. in Philadelphia. Brad Nathanson of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the transaction. The buyer was not disclosed. Constructed in 1996, Northeast Tower Center is anchored by Walmart and Home Depot and home to tenants including Old Navy, Ross, DD’s Discount, PetSmart, Pep Boys and Dollar Tree.
Houston — EDENS is underway on the renovation of Plaza in the Park, a 143,000-square-foot shopping center in the West University area of Houston. Planned upgrades at the center, which was originally built in 1999, will include fresh paint for storefronts, more outdoor seating for diners, revamped landscaping and new pathways to connect the buildings. All tenants at Plaza at the Park — which include Kroger, Massage Envy, Sprint, Subway and Vision Optique, among others — will remain open during the renovation. Construction is scheduled to be complete in mid-fall …
New York City — WHP Global, the parent company of Toys ‘R’ Us, has entered into an agreement with Macy’s (NYSE: M) to open more than 400 toy stores within the department store chain’s existing locations across the country in 2022. In addition to physical merchandise, the new stores will feature interactive experiences and activation centers to enhance the experience for both children and parents. The Wayne, New Jersey-based toy retailer originally announced its intent to close or sell off all its 700-plus U.S. stores in 2018. New York City-based …