Author

Julia Sanders

Michaels

Foothill Ranch, Calif. — Hanley Investment Group has arranged the $4.9 million sale of a single-tenant, net-leased retail property occupied by Michaels in South Orange County. The Michaels store is located within Foothill Ranch Towne Centre in Foothill Ranch. Eric Wohl and CJ Kiehler of Hanley represented the sellers, two separate family trusts based in Nevada and Southern California. Lee & Associates represented the buyer, a private investor based in Orange County. The 25,000-square-foot building was constructed in 1994 and is a junior anchor at the center. Michaels’ neighboring tenants …

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Anaheim Retail

Anaheim, Calif. — Faris Lee Investments has arranged the acquisition of three multi-tenant retail pad sites known as Anaheim Gateway Retail in Anaheim. Scott DeYoung and Jeff Conover of Faris Lee represented the undisclosed buyer in the transaction. The seller was also not disclosed. The three buildings total 15,356 square feet and are anchored by Starbucks Coffee, Habit Burger and California Fish Grill. The sales price was $20.5 million.

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Westfield, Ind. — Holladay Properties and Holladay Construction Group have broken ground on a $10 million agritourism facility for West Fork Whiskey Co. in Westfield, about 30 miles north of Indianapolis. The 35,000-square-foot project is located on the northeast corner of 191st Street and Horton Road across from Grand Park Sports Campus. Plans call for a 5,000-square-foot event space, retail store, 4,000-square-foot restaurant with a cocktail lounge, speakeasy and additional production and aging space. The facility will offer interactive tours, tastings and other educational components. Completion is slated for 2022. …

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Huber Heights, Ohio — Marcus & Millichap has arranged the $8.5 million sale of North Heights Plaza in Huber Heights, just north of Dayton. The 113,732-square-foot shopping center was fully occupied at the time of sale. Anchor tenants include Hobby Lobby and Bed Bath & Beyond. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller marketed the property on behalf of the seller, a private out-of-state investor. The team procured the buyer, ExchangeRight, in collaboration with JRW Realty.

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Wareham

Wareham, Mass. — Horvath & Tremblay has negotiated the $7.2 million sale of Wareham Marketplace, a 35,247-square-foot retail center located about 70 miles south of Boston. Aldi anchors the newly constructed property, which is also home to tenants including Dollar Tree, AutoZone, Wendy’s and Mattress Firm. The pad sites occupied by the latter three tenants were not part of the sale and are being marketed separately. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller and procured the buyer in the deal.

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Baltimore, Md. — MCB Real Estate, MLR Partners and Northwood SC LLC have signed leases with eight new retailers to open at Northwood Commons, a mixed-use project in Baltimore. New tenants include IHOP, Downtown Locker Room, Chipotle Mexican Grill, Harbor Bank, Tropical Smoothie Café, Beauty Plus, Le’s Nail Bar and Georgia Peach. IHOP will occupy 4,600 square feet of space; Downtown Locker Room or DTLR will occupy 4,500 square feet of space; and Chipotle Mexican Grill will occupy a 2,335-square-foot space.

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Lakeshore

Moreno Valley, Calif. — Newmark has arranged the sale of Lakeshore Village Marketplace, a neighborhood shopping center located in Moreno Valley. A Southern California-based private party acquired the retail property from an entity doing business as Lakeshore Plaza Holdings LLC for $8.3 million. Situated at 23575 Sunnymead Parkway, Lakeshore Village Marketplace features 80,000 square feet of retail space. The transaction also includes a 2.3-acre land parcel adjacent to the retail center. Lakeshore Village Marketplace has maintained a steady 87 percent occupancy rate by tenants including Armando’s Mexican Restaurant, Espresso & …

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Honolulu — BlackSand Capital has acquired Waikiki Galleria Tower, a 15-story office and retail property on Kalakaua Avenue in Honolulu, for $270 million. The seller, 2222 SPE LLC, an affiliate of Sanno USA, originally bought the asset from Honolulu-based The Mills Group in December 2011 for $187.1 million. BlackSand Capital plans to redevelop the property’s two-story, 75,000-square-foot retail component, which was most recently occupied by DFS Group’s T Galleria. DFS declined to extend its lease on the space, which it had occupied since 1999.

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CocoWalk

Miami — Federal Realty Investment Trust, The Comras Co. and Grass River Property have signed five new retailers to join the tenant lineup at CocoWalk, a mixed-use shopping center in the Coconut Grove neighborhood of Miami. CocoWalk’s newest retailers include GlossLab, a membership-based nail studio based in New York that is set to open in summer 2022; Antidote Wellness Labs, a boutique fitness studio; Gas Bijoux, a jewelry brand based in Saint-Tropez; Skin Lab by Barba Skin Clinic; and 3D Brow Studio, which is a salon concept specializing in eyebrows. …

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Bridgeview, Ill. — Adelphia Properties has negotiated the $3.6 million sale of a single-tenant retail building occupied by Panera Bread in Bridgeview, about 15 miles southwest of Chicago. The newly constructed, 4,380-square-foot property is located at 8115 S. Harlem Ave. Simeon Spirrison and George Spirrison of Adelphia represented the buyer, a Chicago-based private investor. A Chicago-based developer was the seller. There are 15 years remaining on Panera Bread’s lease.

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