Investment sales

TheFoodFactory-OviedoNpark
EntertainmentFloridaInvestment salesNews

CrossMarc Capital Purchases 14,000-Square-Foot Open-Air Retail Venue in Oviedo, Florida, for $8.3 Million

by Abby Cox

Oviedo, Fla. — CrossMarc Capital LP has acquired The Food Factory at Oviedo on the Park, a 14,000-square-foot, open-air dining and entertainment venue in the northeast Orlando suburb of Oviedo, for $8.3 million. The acquisition includes the Food Factory building, as well as an adjacent parcel where CrossMarc plans to develop a 3,894-square-foot, multi-tenant retail building. Construction is expected to begin in November. Approximately 1,200 square feet has already been preleased to Kilwins, an American confectionary franchise. Winter Park, Florida-based Michael Collard Properties sourced the off-market transaction.

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FloridaInvestment salesMixed-useNewsNorth Carolina

Cuadra Capital Acquires 250,000 Square Feet of Retail, Mixed-Use Developments in North Carolina, Florida

by Abby Cox

Charlotte, N.C. — Cuadra Capital, a Charlotte-based real estate investment and operating firm, has acquired multiple retail and mixed-use assets totaling 250,000 square feet across North Carolina and Florida. The North Carolina acquisitions include State Street Station in Greensboro, College Plaza in Winston-Salem and the Bottleworks District in Wilmington. The lone Florida acquisition was Park & King in Jacksonville. State Street Station is a 60,977-square-foot, eight-building neighborhood retail center that includes a mix of food-and-beverage, service, medical and wellness retail tenants. The firm also acquired four adjacent parcels from a local …

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CVS-Pharmacy
Investment salesNew YorkNews

CBRE Brokers Sale of Four-Property CVS Portfolio in Upstate New York

by Abby Cox

Binghamton, N.Y. — CBRE has brokered the sale of a four-property CVS Pharmacy portfolio totaling 40,500 square feet in the south-central New York cities of Binghamton, Owego and Endicott, located along the Pennsylvania border. The portfolio includes 163 Robinson Street and 249 Main Street in Binghamton; 39 Park Street in Owego; and 1008 Union Center Maine Highway in Endicott. The properties are fully leased to CVS Pharmacy under long-term, corporate-guaranteed leases. Karly Iacono of CBRE represented the seller, Feinberg Development Corp., in the transaction. An entity doing business as JMM Property …

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Trinity Village Center
FloridaInvestment salesNews

Colterra Capital Sells Trinity Village Center in Metro Tampa, Florida, for $23 Million

by Abby Cox

Trinity, Fla. — Canadian-based real estate company Colterra Capital Corp. has sold Trinity Village Center, a 76,834-square-foot retail property located in Trinity, roughly 30 miles north of Tampa. According to the Tampa Bay Business Journal, Crow Holdings purchased the center for $23 million. Trinity Village Center, which features outparcels and a multi-tenant building, was 93 percent leased at the time of sale to tenants including Bonefish, Synovus Bank and Tampa General. Tommy Isola and Whitaker Leonhardt of Colliers represented Colterra Capital Corp. in the transaction.

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Stop-and-Shop
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $17.3 Million Sale of Single-Tenant Retail Property Near Hartford, Connecticut

by Abby Cox

Simsbury, Conn. — CBRE has arranged the $17.3 million sale of a single-tenant retail property located in Simsbury, approximately 11 miles northwest of Hartford. Stop & Shop anchors the 69,948-square-foot building and is situated within Simsbury Commons, a 256,804-square-foot retail center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Primex Capital, and procured the buyer, in the transaction. Other tenants at Simsbury Commons include Walgreens, Raising Cane’s and Apple Cinemas.

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ColoradoInvestment salesNewsRestaurants

Red Robin Completes Sale of 108 Restaurants for $89.4 Million

by Abby Cox

Englewood, Colo. — Red Robin Gourmet Burgers Inc. has completed the sale of 108 company-owned units to multi-unit franchise operators for approximately $89.4 million in gross proceeds. The company announced the transactions in the second quarter of this year. Under the terms of each agreement, each of the multi-unit restaurant operators has begun operating restaurants in the following markets under the same Red Robin brand: • Kuber Oregon LLC and Kuber Washington LLC acquired 17 restaurants based in Oregon and Washington for $10 million. • Evergreen Dining LLC acquired 30 restaurants …

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Grocery-anchoredInvestment salesMichiganNews

Legacy Realty Brokers $4.6 Million Sale of 111,935-Square-Foot Grocery-Anchored Center in Southwest Michigan

by Abby Cox

Battle Creek, Mich. — Legacy Realty Group Advisors has brokered the $4.6 million sale of Urbandale Plaza, a 111,935-square-foot retail center located in the Southwest Michigan city of Battle Creek, approximately 25 miles east of Kalamazoo. Family Fare anchors the center, which features other tenants such as Dollar Tree. Jacob Baruch and Jonah Warshaw of Legacy Realty represented the buyer, a private investor, in the transaction. The seller was also a private investor.

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Stanley-Marketplace
ColoradoFinanceInvestment salesNews

JLL Negotiates $41.2 Million Sale of Stanley Marketplace in Metro Denver

by Abby Cox

Aurora, Colo. — JLL Capital Markets has arranged the $41.2 million sale of Stanley Marketplace, a 102,125-square-foot adaptive reuse retail development located in the Denver suburb of Aurora. Jason Schmidt and Austin Snedden of JLL represented the seller, Westfield Co., in the transaction. Leon McBroom and William Haass, also of JLL, secured a five-year, $27.3 million acquisition loan through a reginal bank on behalf of the buyer, Magnetic Capital. Originally constructed in 1954 as an ejection seat manufacturing facility, the redeveloped retail property is currently 98 percent leased to a mix …

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Investment salesNew MexicoNews

Faris Lee Brokers $4 Million Sale of Retail Strip Center in Albuquerque, New Mexico

by Abby Cox

Albuquerque, N.M. — Faris Lee Investments has brokered the $4 million sale of a newly constructed, three-tenant retail strip center located in Albuquerque. The 5,375-square-foot property was fully leased to El Pollo Loco, Jamba and Xfinity at the time of sale. Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee represented both the seller, a New Mexico-based developer, and the all-cash buyer, a private East Coast-based investor, in the transaction.

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Cross-County-Plaza
GeorgiaGrocery-anchoredInvestment salesNews

Atlantic Capital Partners Brokers $48.2 Million Sale of Publix-Anchored Center in Columbus, Georgia

by Abby Cox

Columbus, Ga. — Atlantic Capital Partners has brokered the $48.2 million sale of Cross Country Plaza, a 304,735-square-foot shopping center located in Columbus. Anchored by Publix, the property was 95 percent leased at the time of sale. Other tenants include T.J. Maxx, Burlington and 2nd & Charles. Fred Victor of Atlantic Capital Partners represented the seller, Hackney Real Estate, in the transaction. The buyer was Brasswater, a Canadian-based real estate development and investment firm headquartered in Montreal, Quebec.

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