Investment sales

Block-37
IllinoisInvestment salesNews

Newmark Arranges $30 Million Sale of Trophy Retail Property in Downtown Chicago

by Abby Cox

Chicago — Newmark has arranged the $30 million sale of Block 37, a 277,654-square-foot trophy retail property located in downtown Chicago. Block 37 comprises five floors of retail space anchored by a mix of tenants including Zara, Sephora, AMC Theatres and The Dearborn, and a four-level underground parking garage. The property is situated within the larger Block 37 mixed-use development that also features residential and office towers. Keely Polczynski and Brian Schneiderman of Newmark represented the seller, CIM Group, in the transaction.

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SouthCoast has acquired Sweet Apple Village, a 62,390-square-foot shopping center located in Roswell, Georgia, for $20.3 million.
GeorgiaInvestment salesNews

Matthews Brokers $20.3 Million Sale of 62,390-Square-Foot Sweet Apple Village in Metro Atlanta

by Abby Cox

Roswell, Ga. — Matthews has brokered the $20.3 million sale of Sweet Apple Village, a 62,390-square-foot shopping center located in Roswell, roughly 22 miles north of downtown Atlanta. The transaction marked the highest retail sales price in the Roswell/Alpharetta submarket in four years and the property’s first sale in 15 years. Jeff Enck, Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews internally represented the seller and sourced the buyer, SouthCoast, in the transaction. Sweet Apple Village was 98.2 percent leased at the time of sale to a mix of tenants including …

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Airpark-Plaza_Miami_Publix
FloridaGrocery-anchoredInvestment salesNews

First Washington Realty Sells Two Miami Shopping Centers to Publix Super Markets

by Abby Cox

Miami — First Washington Realty (FWR), a shopping center owner-operator based in Bethesda, Maryland, has sold two Publix-anchored shopping centers in Miami to Publix Super Markets Inc. The sales price was not disclosed. The properties include Airpark Plaza, a 171,443-square-foot shopping center near Miami International Airport at 5715 N.W. 7th St.; and The Shoppes at Quail Roost, a 73,550-square-foot center located at 20201 S.W. 127th Ave. on the city’s south side. Both properties were fully leased at the time of sale.

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Shops at Edgwater
CaliforniaInvestment salesNews

JLL Negotiates $9.5 Million Sale of Shops at Edgewater in Sand City, California

by Abby Cox

Sand City, Calif. — JLL Capital Markets has negotiated the $9.5 million sale of the Shops at Edgewater, a 25,223-square-foot retail center located at 2080 California Ave. in Sand City.  The fully leased property is occupied by Ulta Beauty, Panera Bread, Mancini’s Sleepworld and a Bank of America ATM. The Shops at Edgewater is also shadow anchored by Target, Ross Dress for Less and Lucky. Eric Kathrein, Andrew Spangenberg and Allie Repaskey of JLL represented the private seller in the transaction. An entity doing business as Sand City Holdings LLC was …

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Eos-Fort-Myers
FloridaInvestment salesNews

SRS Real Estate Arranges $14.3 Million Sale of Single-Tenant Retail Property in Fort Myers, Florida

by Abby Cox

Fort Myers, Fla. —SRSReal Estate Partners has arranged the $14.3 million sale of a single-tenant retail property located at 10560 Colonial Blvd. in Fort Myers. Eōs Fitness occupies the 42,500-square-foot building on a 20-year absolute triple-net, corporate-guaranteed lease. Patrick Nutt and William Wamble of SRS Real Estate represented the seller, a Florida-based developer, in the transaction. The buyer was a Florida-based investor completing a 1031 exchange.

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ArizonaInvestment salesNews

CNSREIT Acquires 303,000-Square-Foot Center in Phoenix

by Abby Cox

Phoenix — Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Grand Canyon Crossing, a 303,000-square-foot shopping center located in Phoenix. Walmart Supercenter anchors the property, which was 99 percent leased at the time of sale. Additional tenants include Harbor Freight Tools, Wendy’s, YouFit Health Club, Sally Beauty Supply, Nationwide Vision Center, Denny’s, Starbucks Coffee, Sonic, Jamba and Quick Quack Car Wash. The retail center was built on 33 acres in 2005. CNSREIT acquired Grand Canyon Crossing through a programmatic joint venture with the Sterling Organization. Further details of the transaction …

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High Point Centre
IllinoisInvestment salesNews

Mid-America Arranges Sale of 240,345-Square-Foot Neighborhood Center in Metro Chicago

by Abby Cox

Lombard, Ill. — Mid-America Real Estate has arranged the sale of High Point Centre, a 240,345-square-foot neighborhood center located in Lombard, roughly 22 miles west of downtown Chicago. The property was 68 percent leased at the time of sale to tenants including LA Fitness, Altitude Trampoline Park, Ace Dental, Burger King, Mango Mango Desserts, Sports Clips, Seoul Bites Korean BBQ, Souq Fresh Market and Tropical Smoothie Café. High Pointe Centre was built in 1992. Ben Wineman of Mid-America represented the seller, a publicly traded REIT, in the transaction. The property was …

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Marigold Shopping Center
CaliforniaGrocery-anchoredInvestment salesNews

Nuveen Real Estate Acquires Marigold Center in San Luis Obispo, California, for $58.3 Million

by Abby Cox

San Luis Obispo, Calif. — Nuveen Real Estate has acquired Marigold Center, a 174,428-square-foot shopping center located at 3900 Broad St. in San Luis Obispo, for $58.3 million. Gleb Lvovich, Geoff Tranchina, Daniel Tyner and Eric Kathrein of JLL represented the seller, First Washington Realty, in the transaction. Vons anchors Marigold Center, which was 91.5 percent leased at the time of sale. Additional tenants at the property include CVS Pharmacy and Planet Fitness, as well as a mix of sporting goods, restaurant, medical and service-oriented tenants. The center sits on …

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19390-Bear-Valley-Rd-Apple-Valley-CA
CaliforniaInvestment salesNews

Hanley Investment Group Brokers Sale of 87,042-Square-Foot Shopping Center in Apple Valley, California

by Abby Cox

Apple Valley, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Apple Valley Towne Center, an 87,042-square-foot regional shopping center located in San Bernardino County. Kevin Fryman, Bill Asher and Sean Cox of Hanley Investment Group represented the seller and developer, San Pedro, California-based Rich Development Enterprises, in the transaction. The buyer and sales price were not disclosed. Completed earlier this year on a 7.9-acre site at 19390 Bear Valley Road, Apple Valley Towne Center was fully leased at the time of sale to three national junior …

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Pavilions Marketplace
CaliforniaGrocery-anchoredInvestment salesNews

Sterling Organization Purchases Grocery-Anchored Center in West Hollywood, California

by Abby Cox

West Hollywood, Calif. — Sterling Organization has purchased Pavilions Marketplace, a 69,622-square-foot retail center located in West Hollywood. The acquisition was made on behalf of Sterling’s institutional value-add fund, Sterling Value Add Partners IV, marking the fund’s 11th investment. Pavilions, an upscale supermarket owned by Albertsons Cos., anchors the center, which was 89 percent leased at the time of sale. Other tenants at the property include Chase Bank, Insomnia Cookies and Nothing Bundt Cakes.

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