Investment sales

Lakeview-Pointe
Investment salesNewsOklahoma

Hanley Investment Group Arranges $22.5 Million Sale of Lakeview Pointe Shopping Center Near Oklahoma City

by Abby Cox

Stillwater, Okla. — Hanley Investment Group Real Estate Advisors has arranged the $22.5 million sale of Lakeview Pointe Shopping Center, a 207,406-square-foot power center located in Stillwater, approximately two miles north of Oklahoma State University. Best Buy, Ross Dress for Less, Belk, Five Below and Petco anchor the center, which was 95 percent leased at the time of sale. Additional tenants include IBC Bank, Olive Garden, Texas Roadhouse, Lowe’s Home Improvement, Panda Express and Rack Room Shoes. Roughly 78 percent of Lakeview Pointe’s tenants have operated at the site for more …

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The 25,008-square-foot retail center in Rancho Cucamonga, California, is fully occupied by 14 tenants.
CaliforniaFinanceInvestment salesNews

PSRS Negotiates $9.4 Million in Refinancing for Retail Center in Rancho Cucamonga, California

by Abby Cox

Rancho Cucamonga, Calif. — PSRS has negotiated a $9.4 million loan for the refinancing of a 25,008-square-foot neighborhood center in Rancho Cucamonga. Constructed in 2004, the retail property is fully occupied by 14 tenants. Jonny Soleimani, George Gianoukakis and Garrett Carter of PSRS secured the non-recourse loan, which features a five-year term and a 27-year amortization schedule, through one of its correspondent life insurance companies.

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whistle-stop-square
Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Realty Group Arranges Sale of Whistle Stop Square Near Rockingham, North Carolina

by Abby Cox

Hamlet, N.C. — Legacy Realty Group Advisors has arranged the sale of Whistle Stop Square, a 40,120-square-foot, grocery-anchored shopping center located in Hamlet, roughly six miles southeast of the Rockingham. Tenants at the center include Food Lion, Mr. Furniture Outlet, K&D Nails, King Gourmet and Mo’s Tobacco & Vapor, according to Showcase. Jacob Baruch and Jonah Warshaw of Legacy Realty Group Advisors represented the buyer, while David Zipparo of Avison Young represented the seller in the off-market transaction.

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Investment salesNewsNorth Carolina

CenterSquare Acquires Shoppes at Indian Trail Near Charlotte, North Carolina                   

by Abby Cox

Indian Trail, N.C. — CenterSquare has acquired Shoppes at Indian Trail, a 33,129-square-foot retail property located in Indian Trail, approximately 15 miles southeast of Charlotte. The center was fully leased at the time of sale to 15 tenants including The UPS Store, Tropical Smoothie Café, Firehouse Subs and Sports Clips. This transaction marks CenterSquare’s ninth acquisition in North Carolina.

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CaliforniaInvestment salesNews

First Washington Realty Purchases Mission Park Marketplace in Santa Clara, California

by Abby Cox

Santa Clara, Calif. — First Washington Realty has acquired Mission Park Marketplace, a 23,204-square-foot retail strip center located in Santa Clara. Built in 2019 on 5 acres, Mission Park Marketplace spans five buildings and features a mix of tenants including Mendocino Farms, Starbucks Coffee, The Habit Burger Grill, Boichik Bagels, Teriyaki Madness and Orangetheory Fitness.

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FloridaInvestment salesNewsTexas

Levin Johnston Group Brokers $9 Million Sale of Two Single-Tenant Retail Properties in Texas, Florida 

by Abby Cox

Lutz, Fla. and Austin, Texas — Levin Johnston Group of Marcus & Millichap has brokered the $9 million sale of two, newly-constructed single-tenant retail properties in Texas and Florida. Marcus & Millichap’s Levin Johnston team represented a single private investor in the acquisitions. The buyer used proceeds from the sale of a 24-unit apartment community in Redwood City, California to reinvest into the retail properties. Chipotle Mexican Grill occupies a 2,493-square-foot building at 10301 Cross Creek Blvd. in Lutz. Chick-fil-A occupies a 4,944-square-foot building at 7300 McKinney Falls Parkway in Austin. …

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Embassy-Plaza
CaliforniaInvestment salesNews

JLL Negotiates $20.3 Million Sale of Embassy Plaza in Los Angeles

by Abby Cox

Los Angeles — JLL Capital Markets has negotiated the $20.3 million sale of Embassy Plaza, a 70,121-square-foot shopping center located in the North Hollywood neighborhood of Los Angeles. Superior Grocers anchors Embassy Plaza, which was 67 percent leased at the time of sale. Other tenants include Starbucks Coffee, T-Mobile and Little Caesars. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL’s Investment Sales and Advisory team represented the buyer, a Los Angeles-based family office, in the transaction.

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Investment salesNew YorkNews

Black Diamond Acquires 2.3 Million-Square-Foot Palisades Center in Metro New York City

by Abby Cox

West Nyack, N.Y. — Affiliated funds of Stamford, Connecticut-based Black Diamond Capital Management have acquired Palisades Center, a 2.3 million-square-foot shopping center in West Nyack, approximately 18 miles north of Manhattan. Black Diamond purchased the property’s underlying debt for $175 million in a foreclosure auction last week, according to the Rockland Business Journal. The previous owner, Pyramid Management Group, defaulted on the $400 million mortgage in early 2020. Syracuse, New York-based Spinoso Real Estate Group will continue serving as the property’s operating partner. As of December 2022, Palisades Center was the …

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Wallingford Fair Shopping Center
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $21.4 Million Sale of Wallingford Fair Shopping Center in Southern Connecticut

by Abby Cox

Wallingford, Conn. — CBRE has arranged the $21.4 million sale of Wallingford Fair Shopping Center, a 115,000-square-foot grocery-anchored center located in Wallingford, approximately 25 miles south of Hartford. ShopRite anchors the property, which also features a self-storage facility and a Petco store. Nat Heald, Jordana Roet, Connor Scott and Kyle Juszczyszyn of CBRE represented the seller, Feldco Development Corp., and procured the buyer, United Hampshire US REIT, in the transaction.

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Oakview Plaza
DevelopmentFloridaGrocery-anchoredInvestment salesNews

Franklin Street Brokers $6.4 Million Sale of Retail Center in Zephyrhills, Florida

by Abby Cox

Zephyrhills, Florida — Franklin Street has brokered the $6.4 million sale of Oakview Plaza, a 47,000-square-foot retail center located in Zephyrhills, roughly 30 miles northeast of Tampa. Justin Walker, Justin Sturdivant and Dylan Morse of Franklin Street represented the seller, South Florida-based Merrimac Ventures, in the transaction. New York-based New Hyde Park Fruit Corp. was the buyer. Originally built in 1990, the center will undergo façade improvements, parking lot enhancements and lighting updates. The property’s Winn-Dixie store is also being redeveloped into an Aldi that will act as co-anchor to …

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