Investment sales

The-Shoppes-at-Parma
Grocery-anchoredInvestment salesNewsOhio

Hendon Properties Acquires 734,199-Square-Foot Shopping Center in Metro Cleveland, Ohio

by Abby Cox

Parma, Ohio — Atlanta-based Hendon Properties, in a joint venture with Axiom Realty and Peaceable Street Capital, has acquired The Shoppes at Parma in the Cleveland suburb of Parma. Anchor tenants at the 734,199-square-foot shopping center include Walmart Supercenter, Burlington, Dick’s Sporting Goods and grocer Marc’s. The deal includes six outparcels with a variety of tenants such as Crumbl Cookies, T-Mobile, Five Guys Burgers & Fries and Panera Bread. Opened in 1956, the property was formerly known as Parmatown Mall. The center marks the fifth property acquired by The Hendon …

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Comatara-Center
Investment salesKansasNews

Prudent Growth Partners Acquires Neighborhood Center in Wichita, Kansas, for $7.7 Million

by Abby Cox

Wichita, Kan. — North Carolina-based Prudent Growth Partners has acquired Comotara Center, a 55,650-square-foot neighborhood center located in Wichita, for $7.7 million. Originally constructed in 1985 and expanded in 1987, the center was 93 percent leased at the time of sale to 13 tenants including Dollar Tree, Five Guys, Edward Jones and State Farm.

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South-Town-Crossing-II
Investment salesNewsTexas

Westwood Financial Purchases 23,300-Square-Foot Retail Center in Metro Fort Worth, Texas

by Abby Cox

Burleson, Texas — Los Angeles-based Westwood Financial has acquired South Town Crossing II, a 23,300-square-foot retail center located in Burleson, approximately 13 miles south of downtown Fort Worth. Target shadow anchors the property, which adjoins South Town Crossing I, a 59,986-square-foot retail center. South Town Crossing II was fully leased at the time of sale to tenants including Petco, Mathnasium, Mattress Firm and Glitz Nails. With this acquisition, Westwood now owns 83,286 square feet within South Town Crossing, representing 82 percent of the shop space surrounding the Target anchor.

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mayfair-shopping-center
Grocery-anchoredInvestment salesNew YorkNews

Brixmor Acquires 221,612-Square-Foot Mayfair Shopping Center in Commack, New York, for $70 Million

by Abby Cox

Commack, N.Y. — Brixmor Property Group has acquired Mayfair Shopping Center, a 221,612-square-foot retail property located in the Long Island community of Commack for $70 million. Lidl, Planet Fitness and PGA TOUR Superstore anchor the property, which was built in 1958. Other tenants at the center include Gap, Sephora, J.Crew Factory, H&R Block, and Tropical Smoothie Café. M Nail and Lash Bar recently signed a new lease at the retail center, while MyGym opened this January. Kid’s Empire, which is under construction, is expected to open later this year. Allison Villamagna …

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Super Star Car Wash
CaliforniaInvestment salesNews

SRS Real Estate Brokers $6.2 Million Sale of Single-Tenant Retail Property in Newport Beach, California

by Abby Cox

Newport Beach, Calif. — SRS Real Estate Partners has brokered the $6.2 million sale of a single-tenant retail property in Newport Beach. Super Star Car Wash occupies the 6,947-square-foot building on a corporate-guaranteed absolute triple-net lease, with approximately 20 years remaining. Calvin Short and Aron Cline of SRS Real Estate represented the seller, a Phoenix-based owner and operator. The buyer was a Los Angeles-based private investor.

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main-avenue-shopping-plaza
ConnecticutGrocery-anchoredInvestment salesNews

Clarion Partners Acquires 156,568-Square-Foot, Grocery-Anchored Center in Norwalk, Connecticut

by Abby Cox

Norwalk, Conn. — Clarion Partners, on behalf of Clarion Partners Real Estate Income Fund, has acquired Main Avenue Shopping Plaza, a 156,568-square-foot shopping center located in the southern coastal Connecticut city of Norwalk. According to the Hartford Business Journal, the property sold for $45.2 million. The retail center, which was fully leased at the time of sale, is anchored by Stop & Shop, Hobby Lobby and Total Wine & More. JLL represented the seller, a joint venture between Sagehall Partners and The Prusik Group, in the transaction.

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Gateway-Lake-Martin_Publix_Alexander-City
AlabamaGrocery-anchoredInvestment salesNews

IPA Brokers $23.1 Million Sale of Publix-Anchored Shopping Center in Alexander City, Alabama

by Abby Cox

Alexander City, Ala. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $23.1 million sale of The Gateway at Lake Martin, a grocery-anchored shopping center located in east-central Alabama. Built in 2024, the 93,352-square-foot center is situated on a 22-acre site. The Gateway at Lake Martin features a mix of tenants including Publix, Marshalls, Starbucks Coffee, Rack Room Shoes and Five Below, as well as four outparcels that were not part of the transaction. Zach Taylor of IPA’s Atlanta office, along with Robby Pfeiffer and …

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LA_Fitness_Lake_Elsinore
CaliforniaInvestment salesNews

RealSource Group Arranges $11.8 Million Sale of Single-Tenant Retail Property in Inland Empire

by Abby Cox

Lake Elsinore, Calif. — RealSource Group has arranged the $11.8 million sale of a single-tenant retail property located in the Inland Empire city of Lake Elsinore. Built in 2008, the 45,460-square-foot building is occupied by LA Fitness and has eight years remaining on its lease. Austin Blodgett and Jonathan Schiffer of RealSource Group represented the seller, a private Southern California investor group, in the transaction. Richard Lee of R&L Properties represented the buyer, another private investor based in Southern California.

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Upland-Square-Drive
Investment salesNewsPennsylvania

Marcus & Millichap Negotiates $6 Million Sale of Retail Property in Pottstown, Pennsylvania

by Abby Cox

Pottstown, Pa. — Marcus & Millichap has negotiated the $6 million sale of the Upland Square retail pads, which are outparcels to the Upland Square Shopping Center, a 400,716-square-foot power center in Pottstown, approximately 20 miles east of Reading. The two buildings, which were built in 2009 and 2016, total 10,944 square feet. The property features three retail suites and was fully occupied at the time of sale. Tenants include Aspen Dental, Starbucks Coffee and Chili’s. Anchored by Giant, Upland Square Shopping Center sits adjacent to the retail outparcels and features …

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North Towne Commons
Investment salesNewsOhio

Atlantic Capital Partners Arranges $6.2 Million Sale of North Towne Commons in Toledo, Ohio

by Abby Cox

Toledo, Ohio — Atlantic Capital Partners has arranged the $6.2 million sale of North Towne Commons, a 98,268-square-foot retail center located in Toledo. North Towne Commons, which was 58 percent leased at the time of sale, features a mix of tenants including Ross Dress for Less, Five Below, Michaels, Shoe Show, Pet Supplies Plus and Aaron’s. Target and Kroger shadow anchor the property. Teddy Driscoll of Alantic Capital Partners represented both the buyer and the seller in the transaction.

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