Investment sales

Barcroft-Plaza
FinanceGrocery-anchoredInvestment salesNewsVirginia

JLL Arranges $58 Million Sale, Acquisition Financing for Harris Teeter-Anchored Shopping Center Near Washington, D.C.

by Abby Cox

Falls Church, Va. — JLL Capital Markets has arranged the $58 million sale of Barcroft Plaza, a 113,173-square-foot shopping center located in Falls Church, roughly 10 miles west of Washington, D.C. Jordan Lex and Danny Naughton of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Chris Knight and Evan Parker, also of JLL, secured the five-year, $35.9 million acquisition loan through Bank of America on behalf of the buyer, 11North Partners. Harris Teeter anchors Barcroft Plaza, which spans nearly 10 acres. Other tenants at the property include …

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Lima_Center
Investment salesNews

Eastern Union Arranges $12.9 Million in Refinancing for 174,078-Square-Foot Shopping Center in Northwestern Ohio

by Abby Cox

Lima, Ohio — Eastern Union has arranged $12.9 million in refinancing for the acquisition of Lima Center, a 174,078-square-foot shopping center located in Lima. Jack Beida, Michael Muller and Mike Orlik of Eastern Union secured a seven-year, fixed-rate loan through an undisclosed lender on behalf of the buyer, an entity doing business as Lima Tov LLC. The purchase price was $19.5 million. Lima Center houses 10 retail tenants and is anchored by an 86,584-square-foot Kohl’s and a 30,000-square-foot T.J. Maxx. Other retailers at the property, which was fully leased at …

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Newport-Pavilion
Grocery-anchoredInvestment salesKentuckyNews

Newmark Brokers Sale of 332,309-Square-Foot Shopping Center in Newport, Kentucky

by Abby Cox

Newport, Ky. — Newmark has brokered the sale of Newport Pavilion, a 332,309-square-foot power center in Newport, which is situated across the Ohio River from downtown Cincinnati. Newport Pavilion is co-anchored by Kroger and Target and was fully leased at the time of sale to tenants including Dick’s Sporting Goods, T.J. Maxx, Michael’s, Ulta Beauty, Chipotle Mexican Grill and PetSmart. The property sits on 55 acres and benefits from a long-term PILOT agreement through 2037. Conor Lalor, Kyle Minter, Keely Polczynski, James Sharp V and Brian Schneiderman of Newmark represented …

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7-Eleven_Clovis
CaliforniaInvestment salesNews

Hanley Investment Group Negotiates $5 Million Sale of Single-Tenant Retail Property Near Fresno, California

by Abby Cox

Clovis, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $5 million sale of a 2,047-square-foot, single-tenant retail property located in Clovis, roughly eight miles west of Fresno. A 7-Eleven convenience store and fuel station occupies the property, which was originally built in 1991 and renovated in 2019. Jacob Fahner and Jeremy McChesney represented the seller, a Los Angeles–based private investor, in the transaction. Jeffrey Leggio of ASU Commercial represented the buyer, a Bakersfield, California-based 1031 exchange investor.

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The-Purple-Chandelier
Investment salesNevadaNews

Marcus & Millichap Negotiates Sale of Two-Tenant Retail Property in Las Vegas

by Abby Cox

Las Vegas — Marcus & Millichap has brokered the sale of a 35,998-square-foot, two-tenant retail property located in Las Vegas. Built in 1977, the former OfficeMax building is now occupied by luxury consignment store The Purple Chandelier and Bodega Furniture. Candace Bare of Marcus & Millichap represented the buyer, Merra Cordier, a local entrepreneur and owner of The Purple Chandelier. Merra Cordier purchased the property from an ownership group that included former Nevada Lt. Gov. Lorraine Hunt Bono. 

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The-Meridian
Grocery-anchoredInvestment salesNewsPennsylvania

TPG-Led Investor Group Acquires Shopping Center Owner ECHO Realty in $2 Billion Deal

by Abby Cox

Pittsburgh — TPG Real Estate has acquired ECHO Realty, a full-service owner and operator of grocery-anchored retail real estate, in a transaction valued at $2 billion. TPG, a global asset management firm based in San Fransisco, partnered with global investment groups PSP Investments, La Caisse and Norges Bank Investment Management for the transaction. “Our more than two decades of building and operating neighborhood, necessity-based shopping destinations demonstrate the enduring demand for grocery-anchored retail close to home,” says Thomas Karet, founder and CEO of ECHO. “With TPG’s investment and business-building expertise, …

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North-Grove-Center
FloridaGrocery-anchoredInvestment salesNews

Marcus & Millichap Brokers $9.6 Million Sale of Grocery-Anchored Shopping Center in Metro Tampa

by Abby Cox

Seffner, Fla. — Marcus & Millichap has brokered the $9.6 million sale of North Grove Center, a 69,757-square-foot retail center located in Seffner, approximately 15miles east of downtown Tampa. Drew Kristol and Kirk Olson of Marcus & Millichap marketed the property on behalf of the seller, a Florida-based private investment group, in the transaction. Discount grocery chain Save A Lot anchors North Grove Center, which features a mix of additional tenants such as Planet Fitness, Dollar Tree and Ace Hardware, along with various local shops, restaurants and service-oriented retailers. Recent …

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Venetia-Village
FloridaGrocery-anchoredInvestment salesNews

Cleeman Realty Group Negotiates $9.1 Million Sale of Venetia Village in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — Cleeman Realty Group has negotiated the $9.1 million sale of Venetia Village, a 93,925-square-foot shopping center located in Jacksonville. The center is situated on about 10 acres and has been owned and operated by the same family for more than 40 years. Winn-Dixie anchors the property, which features additional tenants such as Dollar General, Anytime Fitness and Dunkin’ Donuts. The new ownership plans to modernize the property and enhance the overall tenant mix. Michael Cleeman of Cleeman Realty Group represented the buyer, an entity doing business as Gator …

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Midland-Commons
Investment salesNewsRhode Island

Atlantic Capital Partners Arranges $20.5 Million Sale of Midland Commons Power Center in Metro Providence

by Abby Cox

Warwick, R.I. — Atlantic Capital Partners has arranged the $20.5 million sale of Midland Commons, a 160,448-square-foot power center located in Warwick, approximately 12 miles north of Providence. Situated on roughly 23 acres, the center is anchored by Dick’s Sporting Goods, Burlington and Planet Fitness. Justin Smith, Chris Peterson, Sam Koonce, Danielle Turpin, Stephen Joseph, Stephen Hassenflu and Matt Ericson of Atlantic Capital Partners represented the seller and the buyer in the transaction. An alternative asset manager provided a $15 million non-recourse acquisition loan on behalf of the borrower, Montreal-based Brasswater. …

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8781-Cuyamaca-St-9822-Buena-Vista-Ave-Santee-CA
CaliforniaInvestment salesNews

CBRE Arranges $3.7 Million Sale of Multi-Tenant Retail Property in Southern California

by Abby Cox

Santee, Calif. — CBRE has arranged the sale of a multi-tenant retail building located at 8781 Cuyamaca St. and 9822 Buena Vista Ave. in the Southern California city of Santee, roughly 18 miles northeast of downtown San Diego. Affiliates of Calgary Development sold the property to Burggraf Family Trust for $3.7 million. Situated on 1.1 acres, the property features 16,390 square feet of retail space and was 90 percent leased at the time of sale. Reg Kobzi, Michael Peterson and Lane Robertson of CBRE represented the seller, while William Strocco Jr. …

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