Investment sales

1415-35-N-Kingsbury
IllinoisInvestment salesNews

Greenstone Partners Brokers $19.5 Million Sale of Retail Center in Chicago

by Abby Cox

Chicago — Greenstone Partners has brokered the $19.5 million sale of a 54,000-square-foot retail center located at 1415-1417 N. Kingsbury St. in Chicago’s Clybourn Corridor. A venture between Chicago-based Honore Properties and Peerless Development acquired the fully leased property. Danny Spitz and AJ Patel of Greenstone represented the seller, Los Angeles-based Westwood Financial, in the transaction, which marks the fourth acquisition in the immediate corridor for Honore and Peerless. Spitz previously represented the venture in the acquisition of the adjacent property at 821 W. Eastman St. Originally acquired by Westwood …

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Quick_Quack_Murrieta
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $6.9 Million Sale of Two Single-Tenant Retail Properties in Southern California

by Abby Cox

Murrieta, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $6.9 million sale of two single-tenant retail properties located in Murrieta, roughly 65 miles north of San Diego. The property features two separate, standalone pads across 1.8 acres. Quick Quack Car Wash occupies 4,126 square feet on a 20‑year, absolute triple‑net ground lease that includes 12 percent rental increases every five years. There are 17 years remaining on the lease with multiple renewal options. Popeyes will occupy a 1,983-square-foot restaurant on the other pad on a 20-year absolute, triple-net …

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Palms Crossing
Investment salesNewsTexas

JLL Arranges Sale of 399,075-Square-Foot Palms Crossing Retail Center in McAllen, Texas

by Abby Cox

McAllen, Texas — JLL Capital Markets has arranged the sale of Palms Crossing, a 399,075-square-foot, open-air retail center located in the Rio Grande Valley city of McAllen. Barry Brown, Chris Gerard, Claudia Steeb and Erin Lazarus of JLL represented the seller, WPG, in the transaction. The buyer was Winter Park, Florida-based CTO Realty Growth. Situated on nearly 47 acres, Palms Crossing was 98 percent leased at the time of sale to tenants including Hobby Lobby, Restaurant Depot, Best Buy, Burlington, Barnes & Noble and Guitar Center. The property also offers more …

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Montgomery Plaza
Investment salesNewsTexas

JBL Asset Management Acquires 315,708-Square-Foot Montgomery Plaza in Conroe, Texas

by Abby Cox

Conroe, Texas — Hollywood, Florida-based JBL Asset Management has acquired Montgomery Plaza, a 315,708-square-foot power retail center located in Conroe, approximately 40 miles north of Houston. Ryan West and John Indelli of JLL’s Investment Sales and Advisory team represented the seller in the transaction. Montgomery Plaza was 94.3 percent leased at the time of sale to tenants including Academy Sports + Outdoors, O’Reilly Auto Parts, Crunch Fitness, Spec’s Wine Spirits & Finer Foods, Petco and Dollar Tree.

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Marcs Grocery Center
Grocery-anchoredInvestment salesNewsOhio

FNRP Purchases 63,317-Square-Foot Grocery-Anchored Shopping Center in Suburban Cleveland 

by Abby Cox

South Euclid, Ohio — First National Realty Partners (FNRP) has acquired Marc’s Grocery Center, a 63,317-square-foot shopping center located in the Cleveland suburb of South Euclid. Anchored by Marc’s, the property features a mix of other tenants including Starbucks Coffee, AT&T, NextDoor Urgent Care, Great Clips and Subway. Erin Patton of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the transaction.

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Murphy USA
Investment salesNewsTexas

SRS Negotiates $2.2 Million Sale of Single-Tenant Retail Property in Bryan, Texas

by Abby Cox

Bryan, Texas — SRS Real Estate Partners has negotiated the $2.2 million ground lease sale of a single-tenant retail property located at 2001 E. Highway 21 in Bryan. Specialty retailer Murphy USA occupies the 2,800-square-foot building on a 20-year, corporate-guaranteed, absolute triple-net lease. Jake Prater, Patrick Luther and Matthew Mousavi of SRS represented the seller, College Station, Texas-based Culpepper Realty, in the transaction. A Utah-based private investor purchased the property in an all-cash transaction. SRS Capital Markets has three additional Murphy USA-leased properties available in Florida, with several more listings launching …

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Gateway-Mall-Food-Court
Investment salesNebraskaNews

CBL Properties Acquires Gateway Mall in Lincoln, Nebraska, for $43.5 Million

by Abby Cox

Lincoln, Neb. — CBL Properties has acquired Gateway Mall, an 843,000-square-foot shopping mall located at 6100 O St. in Lincoln. Washington Prime Group sold the property to the Chattanooga, Tennessee-based buyer for $43.5 million. Symetra Life Insurance Co. secured a five-year, $21 million non-recourse loan on behalf of the borrower to finance the acquisition of Gateway Mall. The loan carries a fixed interest rate of 6.46 percent. Gateway Mall was more than 95 percent occupied at the time of sale and features a mix of tenants including Dillard’s, JCPenney, Dick’s Sporting …

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river-exchange-lawrenceville
GeorgiaGrocery-anchoredInvestment salesNews

Sands Investment Group Brokers $23.4 Million Sale of Grocery-Anchored Center in Suburban Atlanta

by Abby Cox

Lawrenceville, Ga. — Sands Investment Group has brokered the $23.4 million sale of River Exchange Shopping Center, a 273,023-square-foot, grocery-anchored shopping center located in Lawrenceville, roughly 30 miles northeast of downtown Atlanta. Liam Rowan and Tyler Baughman of Sands represented the seller, a joint venture between BASH Capital, Dragonfly Investments and Baltimore-based America’s Realty LLC, and the buyer, an entity doing business as Vishal River Exchange LLC, in the transaction. SouthState Bank provided acquisition financing. River Exchange was 80 percent leased at the time of sale to tenants including Kroger, Goodwill, …

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baybrook-village
Investment salesNewsTexas

CBRE Brokers Sale of 278,842-Square-Foot Baybrook Village in Metro Houston

by Abby Cox

Webster, Texas — CBRE has brokered the sale of Baybrook Village, a 278,842-square-foot shopping center located in Webster, approximately 20 miles southeast of downtown Houston. Mark Witcher, Jolie Duhon, Jim Batjer, Chris Cozby and Harrison Tye of CBRE’s National Retail Partners team represented the seller, O’Connor Capital Partners, in the transaction. Fidelis Realty Partners purchased the property for an undisclosed price. Brent Crawford and John Fenoglio, also with CBRE, arranged acquisition financing on behalf of the buyer. Originally built in 1978 and renovated in 2020, Baybrook Village houses a mix of tenants …

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Smart-and-Final
CaliforniaInvestment salesNews

SRS Negotiates $11.4 Million Sale of Single-Tenant Retail Property in Metro Los Angeles

by Abby Cox

Huntington Park, Calif. — SRS Real Estate Partners has negotiated the $11.4 million sale of a single-tenant retail property located in Huntington Park, roughly seven miles south of downtown Los Angeles. A Smart & Final grocery store occupies the 28,000-square-foot building, which was built in 2018. Joe Chichester, John Redfield and Kyle Zimmer of SRS Real Estate represented the buyer, a private investor based in Mexico City, in the transaction. The seller was a private investor based in Los Angeles.

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