Investment sales

Tri-City-Plaza_ShopRite
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $62.5 Million Sale of ShopRite-Anchored Center in Suburban Hartford, Connecticut

by Abby Cox

Vernon, Conn. — CBRE has arranged the $62.5 million sale of Tri City Plaza, a 295,817-square-foot shopping center located in Vernon, a northeastern suburb of Hartford. ShopRite anchors the center, which was 96 percent leased at the time of sale. Other tenants include T.J. Maxx, HomeGoods, HomeSense and Hartford Healthcare. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the sellers, DLC and Acadia Realty Trust, and procured the buyer, East Coast Acquisitions, in the transaction.

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Burlington-Coat-Factory
CaliforniaInvestment salesNews

Marcus & Millichap Brokers $11.2 Million Sale of Single-Tenant Retail Property in Los Angeles

by Abby Cox

Los Angeles — Marcus & Millichap has brokered the $11.2 million sale of a single-tenant retail property located in the Sherman Oaks neighborhood of Los Angeles. A locally owned and operated Burlington Coat Factory occupies the 24,890-square-foot building, which was built in 1999. Lior Regenstreif of Marcus & Millichap procured the buyer, a local private investor, in the transaction. SRS Real Estate Partners represented the seller. 

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Hallcrest-Plaza
Investment salesNewsTennessee

Katz & Associates Arranges $8.7 Million Purchase of Hallcrest Plaza in Metro Nashville, Tennessee

by Abby Cox

Dickson, Tenn. — Katz & Associates has arranged the $8.7 million purchase of Hallcrest Plaza, a 54,000-square-foot shopping center located in Dickson, roughly 35 miles west of Nashville. Hallcrest Plaza is anchored by Ulta Beauty, pOpshelf and Office Depot. Holly Buchanan of Katz & Associates represented the buyer, an entity doing business as 413 Dickson LLC. Ty Hasty of Great South Real Estate & Development represented the seller, Pebble Holdings II, in the transaction.

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bentley-coe-plaza
Investment salesNewsOhio

Cooper Commercial Negotiates $4.2 Million Sale of 36,966-Square-Foot Retail Center Near Cleveland, Ohio

by Abby Cox

North Olmsted, Ohio — Cooper Commercial Investment Group has negotiated the $4.2 million sale of Bentley Coe Plaza, a 36,966-square-foot, multi-tenant retail center located in North Olmstead, approximately 15 miles southwest of downtown Cleveland. Dan Cooper of Cooper Commercial represented the seller in the transaction. Bentley Coe Plaza, which was fully leased at the time of sale, features a mix of national and regional tenants including Cricket Wireless, Subway, Danny Boy’s Pizza, Fast Signs and A Child’s View. Recent renovations at the center include new storefronts and exteriors.

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Oracle-Crossing
ArizonaGrocery-anchoredInvestment salesNews

JLL Negotiates $53.8 Million Sale of Grocery-Anchored Retail Center in Suburban Tucson, Arizona

by Abby Cox

Oro Valley, Ariz. — JLL Capital Markets has negotiated the $53.8 million sale of Oracle Crossing, a 265,530-square-foot retail center located in Oro Valley, approximately six miles northwest of Tucson. Patrick Dempsey and Ross Jorgensen of JLL represented the sellers, entities doing business as Oracle Crossings LLC and Oracle and Magee LLC. The buyers were two entities doing business as Oracle Station LLC and Oracle Station I LLC. Built in 2006, Oracle Station spans 30 acres and is anchored by Sprouts Farmers Market. Other tenants at the center, which was 96 …

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893-Broadway
Investment salesNew YorkNews

Atlantic Capital Partners Arranges $31 Million Sale of Retail, Office Building in Manhattan’s Flatiron District

by Abby Cox

New York City — Atlantic Capital Partners has arranged the $31 million sale of 893 Broadway, a 25,442-square-foot boutique office and retail building located in Manhattan’s Flatiron District. The five-story building is fully leased. Luxury mattress retailer Saatva occupies the lower-level and ground-floor retail space and Chief, a private network for women executives, occupies floors two through five. Chief, which has been a tenant at the property since 2019, has transformed its space into a flagship clubhouse that features a marble library bar, private call rooms, lounges, seven conference rooms and …

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DevelopmentFloridaGrocery-anchoredInvestment salesNews

BCIP Acquires 32.6 Acres on Florida’s Space Coast for Grocery-Anchored Mixed-Use Development 

by Abby Cox

West Melbourne, Fla. — Barron Collier Investment Partners (BCIP) has acquired 32.6 acres from MultiVerse Global, the developers of the 225-acre Space Coast Town Center in West Melbourne, a city on Florida’s Space Coast. BCIP will develop The Landing at Space Coast, a planned mixed-use project that will serve as the cornerstone of the larger master-planned community. Phase I of the development will include approximately 77,750 square feet of retail space anchored by a grocery store, along with restaurant and service-oriented tenants and 300 residential apartments. Phase II will comprise 70,000 …

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Wakefield-Commons
DevelopmentInvestment salesNewsNorth Carolina

Wilder, Greenberg Gibbons Purchase 163,975-Square-Foot Shopping Center in Raleigh, Plans Renovations

by Abby Cox

Raleigh, N.C. — Wilder and Greenberg Gibbons have formed a joint venture to acquire Wakefield Commons, a 163,975-square-foot shopping center located in Raleigh. According to the Triangle Business Journal, Mishorim Gold NC, LP sold the property for $33 million. The acquisition marks Wilder’s entry into North Carolina, as well as Greenberg Gibbon’s first purchase through its $300 million Real Estate Income Fund II. Wakefield Commons was 96.3 percent leased at the time of sale to tenants including Starbucks Coffee, Marquee Cinemas and Burn Boot Camp. Greenberg Gibbons plans to renovate and …

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Drake-Crossing
ColoradoInvestment salesNews

Alpine Investment Group Sells Drake Crossing in Fort Collins, Colorado, for $12.2 Million

by Abby Cox

Fort Collins, Colo. — Alpine Investment Group LLC has sold Drake Crossing, a 56,214-square-foot shopping center located in Fort Collins, for $12.2 million. Jason Schmidt and Austin Snedden of JLL represented the seller in the off-market transaction. The buyer was a joint venture between Big Ben Funds and CAMCRE. The three-building retail center was 96 percent occupied at the time of sale by tenants including Subway, Joseph’s Hardware Store, Intersect Brewery and Poudre Pet & Feed Supply. Safeway and Walgreens shadow anchor the property.

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Investment salesNewsTexas

Cohen & Steers Acquires 442,000-Square-Foot Retail Portion of Power Center in Metro Austin, Texas

by Abby Cox

Cedar Park, Texas — Cohen & Steers Income Opportunities REIT has acquired a 442,000-square-foot portion of 1890 Ranch, an 850,000-square-foot power center located in Cedar Park, a northern suburb of Austin. The acquisition was completed through a joint venture with the Sterling Organization. The seller was Endeavor Real Estate Group. Shadow anchored by Target, 1890 Ranch was 99 percent occupied at the time of sale to tenants including Academy Sports and Outdoor, Crunch Fitness, Burlington, Ross Dress for Less, Hobby Lobby and Ashley Furniture. 

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