Alexandria, Va. — Avison Young’s Capital Markets Group has brokered the sale of a retail center in Alexandria. A private buyer purchased 6001 Kingstowne Village Parkway from The Halle Cos. for $14.2 million. The center is fully leased to ALDI, La-Z-Boy furniture and a newly opened Ashley Furniture HomeStore. Jonathan Hipp, Richard Murphy, Chip Ryan and Matt Weber of Avison Young represented the seller in the transaction.
Shelbyville, Tenn. — Stan Johnson Co. has brokered the sale of Shelbyville Square, an 18,900-square-foot shopping center located at 1020 North Main St. in Shelbyville. Shelbyville Square was fully leased at the time of sale to eight tenants including Petsense and Pizza Hut. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the 1031 exchange buyer, a private investor from Dacula, Georgia. Sofran Partners, an Atlanta-based developer, sold the property for $4.6 million, reflecting a 7.99 percent cap rate.
Denver — Evergreen Devco has completed the disposition of a multi-tenant retail building located at the northeast corner of 56th Avenue and Central Park Boulevard in northeast Denver. 5565 N Beeler LLC acquired the building, which is located within The Shops at Beeler Park. The acquisition price was not released. Situated on 33,371 square feet, the 8,500-square-foot building is fully leased to five tenants including Epic Cycles, Aspen Lane, Paws’n’Play, Box State Barbers and Northfield Pediatric Dentistry. Dorit Fischer and Hayden Hirschfield of Shames-Makovsky Realty Co. represented the buyer in …
Fontana, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.3 million sale of a single-tenant retail building occupied by Sit ‘n Sleep in Fontana. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, Adler Realty Investments, in the transaction. The buyer, a private 1031 exchange investor based in the Inland Empire, purchased the property. The 8,400-square-foot Sit ‘n Sleep store is situated within Highland Village Shopping Center. The center is home to tenants including Sprouts Farmers Market, Jack in the Box, Raising …
Miami and Fort Lauderdale, Fla. — Colliers has arranged two leases for restaurant Coyo Taco in downtown Fort Lauderdale and South Miami. Jenny Gefen of Colliers represented Coyo Taco in both transactions. In South Miami, the restaurant will be opening in a 3,819-square-foot freestanding building formerly occupied by Spring Chicken at 1514 S. Dixie Highway. Cushman & Wakefield represented the landlord in the transaction. In downtown Fort Lauderdale, Coyo Taco will also be opening in a 2,905-square-foot space formerly occupied by Suviche restaurant in Bank of America Plaza at 401 …
Naperville, Ill. — Associated Bank has provided a $26.7 million loan to Shorewood Development Group for the acquisition and revitalization of Market Meadows Shopping Center, a 148,700-square-foot, multi-tenant retail property located at 1201 S. Naper Blvd. in the Western Chicago suburb of Naperville. Tenants at the center include Jewel, US Bank, McDonald’s and T-Mobile. New leases have been signed for the property with Chipotle Mexican Grill, BMO, Jersey Mike’s, Big Blue Swim School and Delta Life Fitness. Daniel Barrins of Associated Bank’s Commercial Real Estate group handled loan arrangements and …
Los Angeles, Calif. — Eastern Real Estate and Atlas Capital Group have acquired Eagle Rock Plaza, a 466,000-square-foot regional shopping center located in the Eagle Rock neighborhood of Los Angeles, for an undisclosed price. The center is anchored by Target, Macy’s, Seafood City and Fitness 19. Bill Bauman and Kyle Miller of Newmark represented the undisclosed seller in the transaction.
Fairfield, Conn. — Atlanta-based home improvement retailer Floor & Décor will open its 100,000-square-foot warehouse store and design center in Fairfield, located in the southern-coastal part of the state, on Monday, June 21. About 50 full- and part-time associates will work at the store, which is located at 300 Tunxis Hill Road. Brian Katz of retail brokerage firm Katz & Associates represented the retailer in its site selection and negotiations for the new store, which is one of two Floor & Décor outlets set to come online in Connecticut this …
Billings, Mont. — Wood Investments Cos. has purchased a vacant retail building situated on 5.19 acres at 2618 King Ave. West in Billings. Wilson-Taylor Partnership sold the property for $4.6 million. Formerly occupied by Big Bear Sports Center, the building features 67,000 square feet of retail space. By the close of escrow, Wood Investments had secured leases with HomeGoods, Sierra Trading Post and Petco to occupy the multi-tenant building. Wood Investments will redevelop the building to comply with tenant specifications, as well as implement capital improvements and upgrades to the …
Scottsdale, Ariz. — Cushman & Wakefield has arranged the sale of Chauncey Lane Marketplace, a mixed-use development in north Scottsdale. Los Angeles-based Ronal LLC acquired the asset from Chauncey Retail Partners for $17.4 million. Located at 17757 and 17767 N. Scottsdale Road, the property features 34,963 square feet of office and retail space. Current tenants include a breakfast diner, cocktail lounge, salon/spa, financial advisory offices, a law firm, residential development firm and a dental practice. The property was developed in 2019. Eric Wichterman and Mike Coover of Cushman & Wakefield …
