Cumming, Ga. — Franklin Street has arranged a 20,388-square-foot lease with Burlington at Cumming Town Center, a 311,396-square-foot shopping center in Cumming, about 35 miles north of Atlanta. Sam Kreuger and Kaitlyn Theriot of Franklin Street represented the landlord, Site Centers, in the transaction. The publicly traded REIT focuses on investing in well-positioned shopping centers such as Cumming Town Center, which is now fully leased. The space that Burlington is backfilling was formerly occupied by Staples. Other tenants at the property include T.J. Maxx, Dick’s Sporting Goods, Ulta Beauty, Best Buy, …
Katie Sloan
Black Lion Investment Sells Vista Terrace Marketplace in San Diego County for $13.3 Million
Vista, Calif. — Black Lion Investment Group has completed the sale of Vista Terrace Marketplace, a retail strip center in the San Diego County community of Vista. A real estate fund advised by Crow Holdings Capital acquired the property for $13.3 million. The 28,440-square-foot center was 91 percent occupied at the time of sale by tenants including Anytime Fitness, Discovery Preschool, Sports Clips, Jersey Mike’s Subs, Pacific Dental, Upper Crust Pizza and Bombay Café. Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the seller in the deal.
Disney Investment Group Arranges Sale of 111,211-Square-Foot Shopping Center in Suburban Dallas
Coppell, Texas — Disney Investment Group (DIG) has arranged the sale of Valley Ranch Centre, a 111,211-square-foot retail property in Coppell, located in the northern-central part of the metroplex. Anchored by Club 4 Fitness and Dollar Tree, Valley Ranch Centre was built on 11.6 acres in 1989 and was roughly 75 percent leased at the time of sale. David Disney and Adam Crockett of DIG exclusively represented the undisclosed seller and procured the out-of-state buyer in the transaction.
Baceline Group Acquires Two Shopping Centers Totaling 78,311 Square Feet in Dallas Area
Dallas and McKinney, Texas — Baceline Group has acquired two shopping centers totaling 78,311 square feet in the Dallas area. The properties include the 53,948-square-foot Preston Lloyd Shopping Center, located at 19009 Preston Road in Dallas; and the 24,363-square-foot Orchid Centre, located at 4150 Eldorado Parkway in the northern Dallas suburb of McKinney. Baceline Group acquired the assets as part of a portfolio that included a 26,442-square-foot center in Montgomery, Ohio. The seller was not disclosed.
Hanley Investment Group Arranges $8 Million Sale of 7-Eleven-Occupied Property in Santa Rosa, California
Santa Rosa, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $8 million sale of a newly constructed, single-tenant property located at 136 College Ave. in Santa Rosa. Jeremy McChesney of Hanley represented the seller, California Capital Group, while Chris Fenolio of Weller Partners represented the buyer, an El Dorado Hills, California-based private investor, in the transaction. A 7-Eleven with a gas station occupies the 2,988-square-foot property on a net-lease basis.
Midland Atlantic Properties Arranges $7.5 Million Sale of Retail Center in Suburban Indianapolis
Fishers, Ind. — Midland Atlantic Properties has arranged the $7.5 million sale of Fishers Corner shopping center in the Indianapolis suburb of Fishers. The 28,359-square-foot property was built in 2005 and was fully leased at the time of sale. Jacque Haynes of Midland Atlantic represented the seller, Sena Realty FC LLC. Johnny Vassallo managed the acquisition on behalf of the buyer, POG Kosmos Fishers LP. First Financial Bank provided acquisition financing.
American Finance Trust to Acquire Shopping Center Portfolio for $1.3 Billion, Sell Office Assets as Part of Corporate Rebrand
New York City — American Finance Trust Inc. (NASDAQ: AFIN) has entered into a definitive agreement to acquire a portfolio of 81 retail centers from CIM Real Estate Finance Trust, a REIT managed by Los Angeles-based CIM Group. The transaction is valued at $1.32 billion. The 9.5 million-square-foot portfolio comprises power retail and grocery-anchored shopping centers, as well as two single-tenant properties. The weighted average lease term of the portfolio is five years, according to CIM. The names and locations of the retail properties were not disclosed. The transaction price comprises primarily …
Plano, Texas — JAH Realty has purchased Preston Parkway Center, a 62,394-square-foot shopping center in Plano. At the time of sale, the property was 79 percent leased to tenants such as Red Hot & Blue, Einstein Bros. Bagels, Dogtopia, Honey Baked Ham, Ben & Jerry’s. Toronto-based Great Gulf sold the asset for an undisclosed price. Dallas-based John Freese & Associates brokered the deal.
First National Realty Partners Acquires 93,728-Square-Foot Shopping Center in Metro Atlanta
Stone Mountain, Ga. — First National Realty Partners has acquired Crowe’s Crossing, a 93,728-square-foot shopping center in Stone Mountain. The seller and sales price were not disclosed. Located at 1232 South Hairston Road, the property is situated approximately 12 miles east of downtown Atlanta. The shopping center was 97 percent occupied at the time of sale and anchored by a 45,528-square-foot Kroger Supermarket. The other tenants were not disclosed.
JLL Arranges $38.4 Million Sale of 365,000-Square-Foot Retail Center in Metro Raleigh
Cary, N.C. — JLL Capital Markets has arranged the sale of South Hills Mall & Plaza, a 365,000-square-foot retail center in the Raleigh-area community of Cary. Sarah Godwin, Thomas Kolarczyk and Matt Winters of JLL represented the seller, an entity known as South Hills Shopping Center Inc. An affiliate of Northpond Partners acquired the property for $38.4 million. South Hills Mall & Plaza was 99 percent leased at the time of sale to tenants such as Northern Tool and Equipment, Roses, Tuesday Morning, Grand Asia Market, Anchor Auto Outlet, Mitchells Academy, Déjà Vu Furniture, NC …