Beaverton, Ore. — Hyperion Realty Capital has purchased Beaverton Town Square in Beaverton, approximately 8 miles west of Portland. The shopping center, which is anchored by Trader Joes, comprises 103,000 square feet and multiple buildings. Kevin Adatto and Sean Tufts of CPX arranged the sale of the property on behalf of the seller, a family.
Simi Valley, Calif. — JLL Capital Markets has arranged the $22.1 million sale of Griffin Plaza in Simi Valley, roughly 40 miles northwest of Los Angeles. Built in 1981, the property comprises 85,022 square feet. The center, which is anchored by Aldi and CVS/pharmacy, was 94 percent leased at the time of sale. Other tenants include Wendy’s and Varenita Assisted Living Community. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL brokered the sale on behalf of the seller, an entity doing business as Griffin Living. A private, 1031-exchange investor …
Watertown, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Plaza at Salmon Run, a 68,761-square-foot shopping center located in the upstate New York community of Watertown. Hannaford anchors the center, accounting for 76 percent of the gross leasable space with a lease that runs through 2028. Other tenants include Red Robin, boating specialist West Marine and salon Zoom Tan. Jim Koury led an IPA team that represented the buyer and seller, both of which requested anonymity, in the transaction.
St. Augustine, Fla. — JLL Capital Markets has arranged the $24.1 million sale of Parkway Village at St. Johns, a 52,070-square-foot retail center located in St. Augustine. Danny Finkle, Alex Sharrin, Eric Williams, Jorge Portela, Jeff Cicurel and Kim Flores of JLL brokered the sale on behalf of the developer and seller, a joint venture between Stiles Corp. and Cantrell & Morgan. Built in 2022, the property was fully leased at the time of sale. A 52,070-square-foot Publix anchors the center. Other tenants include Supercuts, Orange Theory Fitness and The …
Tucson, Ariz. — First Washington Realty has completed the disposition of River Center, a 107,508-square-foot retail center located in Tucson, to a private investor for $31.1 million. At the time of sale, the property was fully leased to anchor Whole Foods Market and other tenants including Petco, Walgreens, Tenet Healthcare, Childtime Childcare and Orange Theory Fitness. Patrick Dempsey, Geoff Tranchina and Patrick Anthon of JLL Capital Markets represented First Washington in the transaction.
Mount Pocono, Pa. — Agora Commercial has acquired Mount Pocono Plaza, a 195,735-square-foot shopping center located in the northeastern Pennsylvania community of Mount Pocono, for $17 million. Weis anchors the property, and other tenants include Ollie’s Bargain Outlet, Harbor Freight, Planet Fitness and Dollar Tree. The center’s occupancy rate at the time of sale was roughly 90 percent. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Heidenberg Properties Group, in the transaction.
Flower Mound, Texas — STRIVE has brokered the sale of Cross Timbers Village, a 19,333-square-foot shopping center located in Flower Mound in the Dallas-Fort Worth area. Tom Thumb anchors the property, which was 100 percent leased at the time of sale. Other tenants at the center include Great Clips, Palio’s Pizza Café, New View Optometry and Happy Pediatric Dental. Hudson Lambert of STRIVE represented the seller, an undisclosed California investor, in the transaction.
Vernon Township, N.J. — Marcus & Millichap has brokered the sale of Vernon Valley Plaza, a 93,029-square-foot shopping center in Northern New Jersey’s Sussex County. ACME anchors the property, which was built from 2001 to 2004. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller, an undisclosed developer, and procured the buyer, a private investor, in the transaction. Both parties were New Jersey-based entities. Joseph Belgiovine of Marcus & Millichap Capital Corp. arranged a $13.3 million acquisition loan for the deal that carries a five-year …
Gainesville, Ga. — Branch Properties has acquired 14 acres for the construction of Limestone Marketplace in Gainesville, roughly 55 miles northeast of Atlanta. Upon completion, the shopping center will comprise 76,764 square feet and feature a 54,964-square-foot Publix. The property will also include three outparcels ranging in size from one to three acres. Branch will break ground on the development in spring of this year, with completion of construction scheduled for the second quarter of 2024.
Albemarle, N.C. — SRS Real Estate Partners’ National Net Lease Group has brokered the $2.2 million sale of First Street Station, a 52,230-square-foot, grocery-anchored shopping center located in Albemarle, about 40 miles east of Charlotte. Ed Laycox of SRS represented the seller, a North Carolina-based private investor, in the all-cash transaction. The buyer was a Charlotte-based private investor operating in a 1031 exchange. Built in 1989 on a six-acre site, First Street Station was 91 percent leased at the time of sale to tenants including Harris Teeter, Roma Pizza and …
