Investment sales

The-Pike
CaliforniaInvestment salesNews

Redwood West, Panattoni Acquire 394,616-Square-Foot Lifestyle Center in Long Beach, California

by Abby Cox

Long Beach, Calif. — Redwood West, in partnership with Panattoni, has purchased The Pike, a 394,616-square-foot waterfront retail, dining and entertainment center in Long Beach. Site Centers Corp. sold the property for $50 million, according to L.A. Business First. Located at 95 S. Pine Ave., The Pike features mixed-use commercial space that was 91 percent leased at the time of sale. Current tenants include Cinemark Theaters, Restoration Hardware, EōS Fitness, Nike Factory Store, H&M, Levi’s, P.F. Chang’s, Gladstones, California Pizza Kitchen and Starbucks Coffee. Redwood West and Panattoni plan to …

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The-Shops-of-Uptown
Grocery-anchoredIllinoisInvestment salesNews

Mid-America Brokers $26 Million Sale of 70,144-Square-Foot, Grocery-Anchored Center in Metro Chicago

by Abby Cox

Park Ridge, Ill. — Mid-America Real Estate Corp. has brokered the sale of The Shops of Uptown, a 70,144-square-foot retail center located in Park Ridge, approximately 15 miles northwest of downtown Chicago. The purchase price was roughly $26 million, as reported by various media outlets. Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Phillips Edison Co., in the transaction. The property was acquired by an institutional investment manager. Trader Joe’s anchors the center, which features a mix of additional tenants including Blufish, LensCrafters, Nothing Bundt Cakes, Pure Barre, Club Pilates, Orangetheory …

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Stonewall-Square
Investment salesNewsVirginia

Marcus & Millichap Arranges $3.8 Million Sale of Shopping Center in Suburban Richmond, Virginia

by Abby Cox

Mechanicsville, Va. — Marcus & Millichap has arranged the $3.8 million sale of Stonewall Square, a 15,922-square-foot shopping center located in Mechanicsville, roughly seven miles northeast of Richmond. Chase Hensen, Dean Zang and David Crotts of Marcus & Millichap marketed the property on behalf of the seller. Built in 2008 and situated on about two acres, the retail property was fully leased at the time of sale to tenants including Firehouse Subs, Benchmark Physical Therapy and a Thai restaurant.

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Family-Dollar
IllinoisInvestment salesNews

JLL, GA Group Negotiates $75 Million Sale-Leaseback of Family Dollar Retail Portfolio

by Abby Cox

Chicago — JLL Capital Markets and GA Group Real Estate have negotiated the $75 million sale-leaseback for a 46-property Family Dollar retail portfolio across 19 states. The properties were acquired by an institutional real estate investor. JLL and GA Group Real Estate represented the seller, FD Retail Properties LLC, in the transaction.

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10th-Woodland_Nashville
Investment salesNewsTennessee

Matthews Brokers $8.5 Million Sale of Retail Strip Center in East Nashville

by Abby Cox

Nashville, Tenn. — Matthews has brokered the $8.5 million sale of a retail strip center located at 1000 Woodland St. in east Nashville’s Five Points district. Built in 2023, the retail center spans 8,207 square feet and houses two tenants: Bartaco and Edley’s Bar-B-Que, which occupy the center on 10-year triple-net leases with annual rent escalations. Ben Burnett of Matthews brokered the transaction. The buyer was a locally based private investor completing a 1031 exchange. The seller was not disclosed. Additionally, Matthews Capital Markets’ team secured a $5.1 million, five-year …

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Chipotle
FloridaInvestment salesNews

SRS Arranges $4.5 Million Sale of Single-Tenant Restaurant Property in Orlando

by Abby Cox

Orlando, Fla. — SRS Real Estate Partners has arranged the $4.5 million sale of a single-tenant restaurant property located within a new 75-acre mixed-use development under construction in Orlando. Chipotle occupies the 2,493-square-foot building on a 15-year corporate-guaranteed absolute triple-net lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based developer and investor. The buyer was a Columbus, Ohio-based investor.

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Retail_Village-at-Burlington-Creek
Grocery-anchoredInvestment salesMissouriNews

Gart Properties Acquires 158,000-Square-Foot, Grocery-Anchored Shopping Center in Kansas City, Missouri

by Abby Cox

Kansas City, Mo. — Gart Properties has acquired Village at Burlington Creek, a 158,000-square-foot shopping center located in Kansas City. Sprouts Farmers Market anchors the property, which was 83 percent leased at the time of sale. Other tenants include Orangetheory Fitness, Club Pilates, Caribou Coffee and Taco Bell, among others. Chris Robertson of Newmark Zimmer represented the buyer in the transaction. PNC Bank financed the acquisition. Inland Real Estate Income Trust was the seller.

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Trader-Joes_Annapolis-Plaza
Grocery-anchoredInvestment salesMarylandNews

MCB Acquires Stake in Trader Joe’s-Anchored Shopping Center in Annapolis, Maryland

by Abby Cox

Annapolis, Md. — MCB Real Estate has purchased an ownership interest in Annapolis Plaza, a 165,565-square-foot shopping center located in Annapolis. An unnamed institutional partner of MCB will retain an ownership interest in the retail property, while MCB will oversee leasing strategy, asset management and property management at the center. The seller and sales price were not disclosed, as well as the percentage of the ownership stake. Annapolis Plaza’s tenant roster includes Trader Joe’s, Homesense, HomeGoods and Marshalls. World Market plans to open a new 16,818-square-foot store at the shopping …

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The-Shops-at-Legacy-Square
Investment salesNew JerseyNews

Stockbridge Capital Group, Cypress Equities Sell 93,785-Square-Foot Retail Center in Northern New Jersey

by Abby Cox

Linden, N.J. — Stockbridge Capital Group and Cypress Equities have sold The Shops at Legacy Square, a 93,785-square-foot retail center located in the Northern New Jersey community of Linden. Completed in 2021, the five-building center was 80.6 percent occupied at the time of sale. The property also features multiple fully leased shadow pad sites with tenants such as Starbucks Coffee, Panera Bread, Taco Bell, Wawa, Chick-fil-A, AFC Urgent Care and Aspen Dental. J.B. Bruno, Kevin O’Hearn, Jose Cruz and Cole Doyon of JLL represented the sellers in the transaction. JLL’s Michael …

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La-Porte-Plaza
Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 20,447-Square-Foot Shopping Center in Suburban Houston

by Abby Cox

La Porte, Texas — Marcus & Millichap has brokered the sale of La Porte Plaza, a 20,477-square-foot multi-tenant retail center located in La Porte, approximately 25 miles east of downtown Houston. Justin Miller marketed the property on behalf of the seller, an out-of-state investor, and procured the buyer, a local investor. Built in 2014 on 2.3 acres, La Porte Plaza features a mix of tenants including Dollar Tree, Firehouse Subs, Donald’s Donuts, La Monarca Ice Cream and Taquerias Arandas.

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