Hamilton, Ohio — Marcus & Millichap’s The Klink Group has brokered the $2.5 million sale of a Raising Cane’s ground lease in Hamilton, about 20 miles north of Cincinnati. The newly constructed property is located at 1479 Main St. Jordan Klink of Marcus & Millichap’s The Klink Group marketed the property on behalf of the seller, Cincinnati-based West Hamilton Investments LLC. Peak 1031 Exchange Inc., a qualified intermediary for a private investor based in California, was the buyer. Bria Yik, a real estate agent affiliated with California-based Real Estates Unlimited, …
Stonecrest, Ga. — Marcus & Millichap has brokered the $2.4 million sale of Evanswood Shopping Center, 58,000-square-foot retail property located in the Atlanta suburb of Stonecrest. Tim Giambrone of Marcus & Millichap led his team in advising both the buyer, Vishal Evanswood LLC, and the seller, a local investor based in Roswell, in the transaction. Evanswood Shopping Center anchored by Dollar General and the YMCA. The property is located at 2906-2926 Evans Mill Road, just west of the 1.3 million-square-foot Mall at Stonecrest, which is anchored by Dillard’s and Macy’s.
Southfield, Mich. — Friedman Real Estate has brokered the sale of the former Northland Mall in Southfield, a northern suburb of Detroit. The sales price was $11.1 million, according to the Detroit Free Press. Friedman was hired in 2017 to act as the City of Southfield’s real estate consultant and broker to market the redevelopment site. Contour Development was the buyer. Contour plans to build new residences, commercial space and amenities. Contour’s plan includes an adaptive reuse of the former J.L. Hudson Co. department store building into Hudson City Market, …
Suffolk, Va. — Cushman & Wakefield | Thalhimer has arranged the sale of Harbour View Shoppes, a retail center located at 5883-5889 Harbour View Boulevard in Suffolk. The center is fully leased to tenants including Starbucks Coffee and Verizon. A family trust based in North Carolina purchased the 17,774-square-foot retail property for $6.8 million. Clark Simpson of Cushman & Wakefield | Thalhimer represented the undisclosed seller in the transaction.
Lowell, Ark. — KMK Equity has broken ground on a 15,503-square-foot retail center at Independence Plaza, a 30-acre development with office, retail and hospitality space in Lowell. The retail center is set for delivery in early 2022. The development will consist of seven retail stores; two outdoor patios; and two drive-thrus on each end of the building. The remaining six lots on the property are zoned for a restaurant, hotel and four office buildings. David Erstine and Alex Schemel of CBRE in Fayetteville are marketing the project’s office and retail …
Owings Mills, Md. — Greenberg Gibbons has signed leases with four new retailers to join the tenant roster at St. Thomas Shopping Center in Owings Mills. Michaels will occupy a 23,045-square-foot space near Baltimore Sports & Novelty. Next Door Pharmacy and uBreakiFix will occupy 1,600-square-foot spaces; and Boston Market will open in a 2,000-square-foot space. Next Door Pharmacy, uBreakiFix and Boston Market will open this fall and Michaels will open in fall 2022. Thomas Shopping Center is located on Reisterstown Road adjacent to Foundry Row, a mixed-use center also owned …
Kenosha, Wis. — Institutional Property Advisors (IPA) has brokered the sale of Southport Plaza and Indian Trail Plaza in Kenosha for $43.5 million. A Florida-based private buyer purchased the two adjacent shopping centers, which total 407,367 square feet. Anchored by Kohl’s, Fresh Thyme and Hobby Lobby, the centers were 92 percent occupied at the time of sale. Craig Fuller, Scott Wiles, Erin Patton and Jared Shapiro of IPA represented the seller, a Chicago-based private equity firm. The team also represented the buyer, which secured permanent financing from an undisclosed bank …
University Heights, Ohio — Cushman & Wakefield has arranged the $38.3 million sale of Cedar Center South in University Heights, about nine miles east of Cleveland. Anchored by Whole Foods Market, the 138,881-square-foot shopping center is located on Cedar Road. It is 91 percent leased to tenants such as CVS/pharmacy, Dollar Tree and Goodwill. Evan Halkias, Michael Marks, Hank Davis and Lane Breedlove of Cushman & Wakefield represented the undisclosed seller. Mike Ryan, Brian Linnihan, Richard Henry and Taylor Crowder of Cushman & Wakefield arranged a $25.7 million acquisition loan …
Ontario, Calif. — Wood Investments Cos. has purchased a 19.6-acre development site within the master-planned community of Ontario Ranch in Ontario. San Diego-based GDC RCCD 2 LP sold the property for $18.5 million. Wood Investments plans to develop The Ranch at Model Colony Shopping Center, a 206,072-square-foot retail property, at the site. The shopping center will be located at the intersection of Ontario Ranch Road and Hamner Avenue. Already signed tenants include Burlington, Five Below, Hobby Lobby and Planet Fitness. Brian McDonald and Walter Pagel of CBRE represented Wood Investments …
Lexington, Ky. — SVN | Stone Commercial Real Estate has brokered the $17.4 million sale of Mist Lake Plaza, a 217,292-square-foot shopping center in Lexington. Matt Stone, Justin Ryder and Nathan Dilly of SVN | Stone represented the seller, DF Lexington Properties LLC. Jim Powell of The Gibson Co. represented the buyer, S & P Holdings LLC. The center will be the future home of Lexington Motorsports, a motorcycle dealer set to occupy about 125,442 square feet of the facility. The center was 89 percent occupied at the time of …