Huntington Beach, Calif. — Westwood Financial has acquired Peninsula Marketplace, a 95,416-square-foot shopping center located in Huntington Beach in Southern California. Ralphs anchors the property, which was 99 percent leased at the time of sale. Other tenants at the center include Planet Fitness, Carl’s Jr., Woof Gang Bakery & Grooming, Sourdough & Co., Rubio’s Baja Gril, Peninsula Orthodontics, Aim Mail Center and 602 Coffee & Acai.
Houston — Partners Capital, the investment platform of Partners Real Estate, has purchased a three-property retail portfolio totaling 116,143 square feet in northwest Houston. The acquisition was made through Partners Capital’s Opportunity Fund VI. The portfolio comprises Town Square Shopping Center (62,762 square feet), Boardwalk Shopping Center (24,417 square feet) and The Exchange Shopping Center. Other properties in the Fund VI portfolio include Colonnade of McAllen, a 41,041-square-foot neighborhood center in McAllen, Texas; and Powers Ferry Business Park, a 261,949-square-foot flex/service center in Northwest Atlanta. John Indelli and Zamar Salas of …
Santa Clarita, Calif. — SRS Real Estate Partners has arranged the $27.5 million sale of a value-add retail property located in Santa Clarita, roughly 30 miles north of Los Angeles. The shopping center, which is situated on 12.6 acres, was formerly anchored by Kmart. At the time of sale, the property was 80 percent leased. The new ownership plans to fully renovate the shopping center, maintaining its retail use while upgrading the property and enhancing its overall appearance. Carlos Lopez, Terrison Quinn and Tony Vuona of SRS Capital Markets represented the …
Fort Walton Beach, Fla. — TSCG has brokered the $8.4 million sale of The Shoppes at Paradise Pointe, a Publix-anchored shopping center located at U.S. Highway 98 and Perry Avenue Southeast in Fort Walton Beach. The 73,416-square-foot property sits at the mainland approach to Brooks Bridge, which connects Fort Walton Beach to Okaloosa Island. Anthony Blanco of TSCG represented the seller, SITE Centers Corp., in the transaction. The buyer was an undisclosed private investor. Built in 1987, The Shoppes at Paradise Pointe was 82.5 percent leased at the time of sale …
San Jose, Calif. — Marcus & Millichap has arranged the $7 million sale of Capital Commercial Center, a 14,479-square-foot retail property located in San Jose. Steve Sauter of Marcus & Millichap represented the seller, an undisclosed partnership, while Bryan DiMesio and Scott Ferguson of Marcus & Millichap represented the buyer, a California-based limited liability company, in the transaction. Built in 1988 on a 1.1-acre parcel, Capital Commercial Center is fully leased to nine tenants under triple-net leases with an average occupancy tenure of more than 11 years.
Chicago — Time Equities Inc. (TEI) has acquired 33 South Wabash Ave. in Chicago for $3.9 million. Located in the heart of the South Loop along historic Jeweler’s Row, the property offers 38 feet of frontage on Wabash Avenue at the base of a 360-unit luxury condominium building, which is also home to the School of the Art Institute of Chicago. Currently fully leased, the 7,400-square-foot, three-unit retail property is home to Goddess & The Baker, Reckless Records and Prasino. Ami Ziff and Jonathan Kim represented TEI on an internal …
Chicago — Greenstone Partners has negotiated the $3.2 million sale of 1560 N. Damen Ave., a 4,650-square-foot mixed-used building located in Chicago’s Wicker Park neighborhood. The three-story property features ground-floor retail space anchored by regional bakery Stan’s Donuts & Coffee. The second and third floors are occupied by recently renovated three-bedroom apartments. Danny Spitz and Brewster Hague of Greenstone represented the seller and procured the private buyer in the transaction.
Chicago — JLL Capital Markets has arranged the $91.7 million sale-leaseback of 34 retail bank branches occupied by Trustmark Bank, spanning five states across the Southeast. The 222,037-square-foot portfolio includes 15-year absolute triple-net leaseback agreements featuring 1.5 percent annual rent increases. The portfolio is predominantly located in Mississippi, alongside locations in Florida’s Gulf Coast; Memphis, Tennessee; Houston, Texas; and Montgomery and Huntsville, Alabama. Trustmark will continue to operate branches at each of the locations with no changes to its products or service offerings. JLL’s Chicago-based Corporate Capital Markets and Net Lease …
Lakewood, Calif. — Faris Lee Investments has brokered the $38.7 million sale of two retail properties located within Lakewood Center, a 2 million-square-foot shopping center situated roughly 23 miles southeast of Los Angeles. The buildings, which total nearly 155,000 square feet, are occupied by Albertsons and The Home Depot. Both tenants have operated at the center for more than 30 years. Don MacLellan, Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee Investments represented the seller, a consortium of multiple owners, and the buyer, a high net-worth family office, in …
Charlotte, N.C. — Marcus & Millichap has brokered the $6 million sale of Eastland Promenade, a 26,615-square-foot retail strip center located in Charlotte. Built in 1988, the property features 10 retail suites and was fully occupied at the time of sale by a mix of local businesses, restaurants and service-oriented tenants. Eastland Promenade is situated adjacent to Eastland Yards, an 80-acre mixed-use project underway. Kyle Carpentier, Andrew Margulies and Harrison Creason of Marcus & Millichap marketed the property on behalf of the seller, a local family ownership group, and procured the …
