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Katie Sloan

Village-Plaza-Augusta-GA
GeorgiaInvestment salesNews

Matthews Real Estate Negotiates $20.5 Million Sale of Village Plaza in Augusta, Georgia

by Katie Sloan

Augusta, Ga. — Matthews Real Estate Investment Services has negotiated the $20.5 million sale of Village Plaza, a shopping center in Augusta. The names of the seller and buyer were not released. Located at 270 Bobby Jones Expressway, Village Plaza features 208,269 square feet of retail space. Current tenants include Gold’s Gym, GNC, Bealls Outlet and Tractor Supply Co. The property is shadow anchored by Walmart. Johnny Blue Craig of Matthews Real Estate Investment Services represented the seller in the deal.

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Crawfordsville-Square
IndianaInvestment salesNews

JLL Brokers $18.5 Million Sale of Shopping Center in Suburban Indianapolis

by Katie Sloan

Crawfordsville, Ind. — JLL Capital Markets has brokered the $18.5 million sale of Crawfordsville Square, a 273,249-square-foot shopping center in the Indianapolis suburb of Crawfordsville. Kroger is the anchor tenant at the property, which is 95 percent leased. Other tenants include Dunham’s Sports, Burke’s Outlet, H&R Block, Shoe Sensation, Pet Supplies Plus and Burger King. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, Lamar Cos. Essential Growth Properties acquired the asset.

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Investment salesNew YorkNewsRestaurants

Hanley Investment Group Arranges $2.4 Million Sale of Restaurant Building in Ithaca, New York

by Katie Sloan

Ithaca, N.Y. — Hanley Investment Group has arranged the $2.4 million sale of a 7,500-square-foot restaurant building in the upstate New York community of Ithaca that is fully leased to Texas Roadhouse. The property was built on 1.4 acres in 2015. Jeff Lefko and Bill Asher of Hanley Investment Group, along with Parasell Inc., represented the California-based buyer in the transaction. Dalton Barnes of Alpha Real Estate Advisors represented the Chicago-based seller.

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Lincoln-Center
FloridaInvestment salesNews

BH Properties Acquires Lincoln Center Retail Property in Miami Beach for $93.6 Million

by Katie Sloan

Miami Beach, Fla. — BH Properties has purchased Lincoln Center, a 129,360-square-foot retail destination in Miami Beach. Vornado Realty Trust sold the asset to BH Properties, marking the firm’s entry to the Miami market. The sales price was not disclosed, but South Florida Business Journal reported the property traded for $93.6 million. Built in 1999, the four-story building is situated on a full city block in the South Beach neighborhood along Lincoln Road, which is Miami’s high-street retail corridor. An 18-screen Regal Cinema, the only movie theater in South Beach, …

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The-Shoppes-at-Grayhawk
Investment salesNebraskaNews

First National Realty Partners Buys 221,000-Square-Foot Shopping Center in Omaha

by Katie Sloan

Omaha, Neb. — First National Realty Partners has purchased The Shoppes at Grayhawk in Omaha for an undisclosed price. The 221,000-square-foot shopping center is located on West Maple Road. A 140,000-square-foot Lowe’s anchors the property. Additional tenants include Michaels, Dollar Tree, Chipotle Mexican Grill, Jimmy John’s and First Watch. Ben Snyder and Zack Bates of Matthews Real Estate Investment Services represented the undisclosed seller.

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Chick-fil-A_Suwanee
GeorgiaInvestment salesNews

Marcus & Millichap Brokers $3.5 Million Sale of Metro Atlanta Restaurant Site Leased to Chick-fil-A

by Katie Sloan

Suwanee, Ga. — Marcus & Millichap has brokered the $3.5 million sale of a single-tenant, net-leased restaurant in metro Atlanta ground leased to Chick-fil-A. Built in 2007, the property is located on a 1.2-acre lot at 1035 Peachtree Industrial Blvd. in Suwanee. A locally based, privately held buyer purchased the restaurant through a 1031 exchange in an all-cash transaction. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group brokered the deal. “This transaction demonstrates the strong demand for trophy net-lease assets and the peak pricing they are commanding despite …

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Hainesville
IllinoisInvestment salesNews

Quantum Brokers $2.1 Million Sale of Retail Center in Northeast Illinois

by Katie Sloan

Hainesville, Ill. — Quantum Real Estate Advisors Inc. has brokered the $2.1 million sale of a multi-tenant retail center located on East Belvidere Road in Hainesville, a city in Northeast Illinois. At the time of sale, the property was leased by Starbucks Coffee, Chicago’s Red Hots, Luxe Salon and Lakemoor Dental. Jason Lenhoff of Quantum represented the seller, a locally based private investor. A Wisconsin-based private investor was the buyer.

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Suffolk-Downs
DevelopmentMassachusettsMixed-useNews

Partnership Breaks Ground on 16.2 Million-Square-Foot Mixed-Use Redevelopment of Suffolk Downs Racetrack Near Boston

by Katie Sloan

Revere, Mass. — The HYM Investment Group, Cathexis and National Real Estate Advisors have broken ground on the redevelopment of the former racetrack site at Suffolk Downs in Revere, about five miles north of Boston. The project will ultimately span 16.2 million square feet of development, including 10,000 apartments and condominiums; 5.2 million square feet of life sciences and office space; 450,000 square feet of retail and civic space; and 40 acres of parks and open space. The Suffolk Downs thoroughbred racetrack opened in 1935 and was shuttered in 2019. HYM …

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CaliforniaInvestment salesLouisianaNews

JRW Realty Brokers $84 Million Sale of Six Stores in Louisiana Net-Leased to Walmart

by Katie Sloan

Pasadena, Calif. — JRW Realty, a Pasadena-based commercial real estate brokerage firm, has arranged the sale of six single-tenant retail stores in Louisiana net-leased to Walmart Neighborhood Market. Jennifer Rodriguez Ventura of JRW Realty represented the buyer, an unnamed institutional investor that purchased the portfolio for $84 million. Alex Sharrin of JLL represented the undisclosed seller. The six stores are located in the southern or coastal Louisiana towns of Meraux, Houma, Prairieville, New Iberia, Opelousas and Thibodaux. All purchases have single-tenant net leases in place, with individual prices ranging from …

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Garden-Grove_Savannah_Food-Lion
GeorgiaInvestment salesNews

IPA Brokers $8.3 Million Sale of Food Lion-Anchored Shopping Center Near Port of Savannah

by Katie Sloan

Garden City, Ga. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $8.3 million sale of Garden Grove, a Food Lion-anchored shopping center located adjacent to the Port of Savannah in Garden City.  The grocer, which has anchored the shopping center since 1990, recently extended its lease through 2031. Fletcher Bright Co. sold the 78,792-square-foot property to a private, North Carolina-based family office doing business as Berkshire-Hudson Capital XI.  The seller recently replaced the shopping center’s roof and executed nine lease renewals in 2021, including …

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