Investment sales

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CaliforniaGrocery-anchoredInvestment salesNews

JLL Arranges $20.5 Million Sale of Crown Valley Mall Near Laguna Beach, California

by Abby Cox

Laguna Niguel, Calif. — JLL Capital Markets has arranged the $20.5 million sale of Crown Valley Mall, a 62,627-square-foot, grocery-anchored retail center located near Laguna Beach. A private family, which had owned the property since it was originally built in 1969, sold the property to Charlotte, North Carolina-based Asana Partners. Tenants at Crown Valley Mall include Smart & Final, Baja Fish Tacos, Domino’s and Avis. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller and sourced the all-cash institutional buyer in the transaction.

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CaliforniaInvestment salesNews

Reports: Prado Group, Presidio Group Ventures End Bid for San Francisco Centre

by Abby Cox

San Francisco — Prado Group and Presidio Group Ventures, the prospective buyers for San Francisco Centre, have ended their bid to purchase the 1.5 million-square-foot mall, according to reports from San Francisco Times and San Francisco Chronicle. The Chronicle cited a joint statement from the potential buyers announcing that they remain “strong believers in the long-term future of downtown San Francisco” and the long-struggling shopping center’s “pivotal importance to Market Street and the broader San Francisco downtown recovery that is underway.” The partners were planning to transform one of the vacant …

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Highland-Village
Grocery-anchoredInvestment salesMississippiNews

Newmark Arranges Sale of Whole Foods-Anchored Shopping Center in Jackson, Mississippi

by Abby Cox

Jackson, Miss. — Newmark has arranged the sale of Highland Village, a 217,589-square-foot shopping center located at 4500 I-55 N. in Jackson. Mississippi’s only Whole Foods Market anchors the 14.5-acre property, which was originally developed in 1960 and redeveloped in 2017 by the seller, WS Development. Charlotte, North Carolina-based Asana Partners purchased the shopping center for an undisclosed price. Conor Lalor of Newmark represented the seller in the transaction. Highland Village was approximately 90 percent leased at the time of sale to tenants including Free People, Kendra Scott, lululemon and …

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Investment salesMississippiNews

Marcus & Millichap Brokers Sale of 99,097-Square-Foot Shopping Center in Grenada, Mississippi

by Abby Cox

Grenada, Miss. — Marcus & Millichap has brokered the sale of Riverbirch Plaza, a 99,097-square-foot shopping center located at 1201-1231 Sunset Drive in Grenada, which is roughly midway between Jackson, Mississippi, and Memphis, Tennessee, along Interstate 55. Built in 1976, the shopping center is situated on 9.5 acres and was fully leased at the time of sale to 11 tenants, including Harbor Freight, Dollar General and The UPS Store. Mickey Davis, Chris Leppanen and Davis Owen of Marcus & Millichap represented the seller, Action Properties, which has owned Riverbirch Plaza …

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GeorgiaInvestment salesMixed-useNews

Madison Commercial Completes Sale of Chick-fil-A Site Near Oglethorpe Mall in Savannah

by Abby Cox

Savannah, Ga. — Madison Commercial, an affiliate of Madison Capital Group, has completed the sale of a Chick-fil-A outparcel at its mixed-use redevelopment of the former Sears and Sears Auto Center site at Oglethorpe Mall in Savannah. The transaction marks the final piece of the company’s retail component at the mixed-use development. Along with Chick-fil-A, Madison Commercial has leased and sold all three retail outparcels at the property, including Jim ‘N Nick’s Bar-B-Q and Valvoline Instant Oil Change. The outparcels are situated adjacent to Oglethorpe Mall and Madison Oaks, a …

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towne-crossing
Grocery-anchoredInvestment salesNewsTexas

DIG Arranges Sale of 167,957-Square-Foot, Kroger-Anchored Shopping Center in Metro Dallas

by Abby Cox

Mesquite, Texas — Disney Investment Group (DIG) has arranged the sale of Towne Crossing, a 167,957-square-foot shopping center located in Mesquite, roughly 15 miles east of Dallas. Kroger anchors the property, which was 92 percent leased at the time of sale to 30 additional tenants including WSS, Citi Trends, CSL Plasma, Kids Empire, LaundroLab and Hertz, among others. Kroger has operated at Towne Crossing since its opening in the early 1990s, and recently executed an early, long-term lease extension. David Disney and Adam Crockett of DIG represented the seller, Phillips …

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The Market at City Park
Investment salesNewsTexas

Reid King Sells 8,024-Square-Foot, Multi-Tenant Retail Property in Houston

by Abby Cox

Houston — Reid King Commercial Real Estate has sold The Market at City Park, an 8,024-square-foot, multi-tenant retail property located in Houston. Built in 2024 on 1.5 acres, the four-suite center was fully leased to Chipotle Mexican Grill, Marble Slab Creamery/Great American Cookies, The UPS Store and TLN Family Dental at the time of sale. The Market at City Park is also shadow anchored by a new Joe V’s Smart Shop grocery store. Chris Gainey and Philip Levy of Marcus & Millichap marketed the property on behalf of the seller. The …

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ArizonaInvestment salesNews

Cushman & Wakefield Brokers $2.4 Million Sale of Single-Tenant Restaurant Property in Metro Phoenix

by Abby Cox

El Mirage, Ariz. — Cushman & Wakefield has brokered the $2.4 million sale of a newly developed restaurant building located at 12443 NW Grand Ave. in El Mirage, roughly 10 miles northwest of downtown Phoenix. Black Rock Store Operations LLC occupies the 620-square-foot building. The coffee bar operates 181 locations across seven states and offers specialty coffee, energy drinks, breakfast sandwiches, bagels, egg bites and grab-and-go pastries. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller in the deal. Both parties were limited liability companies.

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CaliforniaInvestment salesNews

Marcus & Millichap Arranges $5.1 Million Sale of Single-Tenant Restaurant Property Near Los Angeles

by Abby Cox

Woodland Hills, Calif.  — Marcus & Millichap has arranged the $5.1 million sale of a single-tenant retail property located in Woodland Hills, approximately 26 miles northwest of downtown Los Angeles. Built in 1978, the 10,000-square-foot building is leased to full-service Mexican restaurant El Torito. Brandon Michaels of Marcus & Millichap marketed the property on behalf of the seller, an entity doing business as Kia Canoga Warner LLC, and procured the buyer, a private investor.

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Giant-Eagle
Investment salesNewsRetailers

The Kroger Co. to Acquire Giant Eagle for $1.6 Billion

by Abby Cox

Cincinnati and Pittsburgh — The Kroger Co. and Giant Eagle Inc. have entered into a definitive agreement in which Kroger will acquire Giant Eagle, a family-owned food and pharmacy retailer. The company operates 197 supermarkets and 11 standalone pharmacies across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana. The transaction has been unanimously approved by Kroger’s board of directors. The purchase price will be $1.65 billion, comprised of $1.25 billion in cash and the assumption of approximately $400 million in outstanding liabilities. In connection with obtaining the requisite regulatory clearance necessary to …

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