McHenry, Ill. — Marcus & Millichap has negotiated the $2.6 million sale of Diamond Plaza, a 7,035-square-foot retail center located in McHenry, roughly 50 miles northwest of Chicago. Built in 2009, the three-tenant property was fully occupied by Verizon, Biggby Coffee and Lacey’s Place at the time of sale. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a family trust, and procured the buyer, a private investment group.
Geneva, Ill. — Quantum Real Estate has brokered the sale of 1310 Commons Drive, an 88,000-square-foot retail center located in Geneva, about 40 miles west of Chicago. The property consists of four multi-tenant buildings, as well as two single-tenant buildings, and features a mix of tenants including First Watch, California Pizza Kitchen, Sleep Number, Five Guys and Jamba Juice, among others. The property was roughly 98 percent leased at the time of sale. The buyer was a global real estate investment manager, and the seller was an investment fund based …
Chicago — Curbline Properties has acquired Clybourn Center, a 33,140-square-foot unanchored retail strip center located in the Lincoln Park neighborhood of Chicago. Clybourn Center was 91.2 percent leased at the time of sale to tenants including Physicians’ Immediate Care, Premier Allergy and Metro Infusion. The property also features 86 parking spaces. Michael Nieder and Brian Page of JLL represented the seller in the transaction. Steve Schwartz, also of JLL, handles leasing efforts at the property.
McAllen, Texas — Partners Capital, the investment platform of Partners Real Estate, has acquired Colonnade of McAllen, a 41,041-square-foot neighborhood center located in the Rio Grande Valley city of McAllen. Built in 2004, Colonnade of McAllen was fully leased at the time of sale. Tenants include Maripoza Boutique, PureLine Nutrition, Queen’s Nails and Sari-Sari Filipino Convenience Store, according to LoopNet Inc. This transaction marks Partners Capital’s second acquisition through its Opportunity Fund VI and the first retail property acquired through the vehicle.
Long Beach, Calif. — Redwood West, in partnership with Panattoni, has purchased The Pike, a 394,616-square-foot waterfront retail, dining and entertainment center in Long Beach. Site Centers Corp. sold the property for $50 million, according to L.A. Business First. Bryan Ley and Tim Kuruzar of Northmarq represented the seller. Located at 95 S. Pine Ave., The Pike features mixed-use commercial space that was 91 percent leased at the time of sale. Current tenants include Cinemark Theaters, Restoration Hardware, EōS Fitness, Nike Factory Store, H&M, Levi’s, P.F. Chang’s, Gladstones, California Pizza …
Park Ridge, Ill. — Mid-America Real Estate Corp. has brokered the sale of The Shops of Uptown, a 70,144-square-foot retail center located in Park Ridge, approximately 15 miles northwest of downtown Chicago. The purchase price was roughly $26 million, as reported by various media outlets. Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Phillips Edison Co., in the transaction. The property was acquired by an institutional investment manager. Trader Joe’s anchors the center, which features a mix of additional tenants including Blufish, LensCrafters, Nothing Bundt Cakes, Pure Barre, Club Pilates, Orangetheory …
Mechanicsville, Va. — Marcus & Millichap has arranged the $3.8 million sale of Stonewall Square, a 15,922-square-foot shopping center located in Mechanicsville, roughly seven miles northeast of Richmond. Chase Hensen, Dean Zang and David Crotts of Marcus & Millichap marketed the property on behalf of the seller. Built in 2008 and situated on about two acres, the retail property was fully leased at the time of sale to tenants including Firehouse Subs, Benchmark Physical Therapy and a Thai restaurant.
Chicago — JLL Capital Markets and GA Group Real Estate have negotiated the $75 million sale-leaseback for a 46-property Family Dollar retail portfolio across 19 states. The properties were acquired by an institutional real estate investor. JLL and GA Group Real Estate represented the seller, FD Retail Properties LLC, in the transaction.
Nashville, Tenn. — Matthews has brokered the $8.5 million sale of a retail strip center located at 1000 Woodland St. in east Nashville’s Five Points district. Built in 2023, the retail center spans 8,207 square feet and houses two tenants: Bartaco and Edley’s Bar-B-Que, which occupy the center on 10-year triple-net leases with annual rent escalations. Ben Burnett of Matthews brokered the transaction. The buyer was a locally based private investor completing a 1031 exchange. The seller was not disclosed. Additionally, Matthews Capital Markets’ team secured a $5.1 million, five-year …
Orlando, Fla. — SRS Real Estate Partners has arranged the $4.5 million sale of a single-tenant restaurant property located within a new 75-acre mixed-use development under construction in Orlando. Chipotle occupies the 2,493-square-foot building on a 15-year corporate-guaranteed absolute triple-net lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based developer and investor. The buyer was a Columbus, Ohio-based investor.
