Investment sales

Oakwood Plaza

Alton, Ill. — Marcus & Millichap has brokered the $9.3 million sale of Oakwood Plaza, a 45,400-square-foot shopping center located in Alton, approximately 25 miles north of St. Louis. Built in 2005, the property features a mix of 16 tenants including Panera Bread, Spectrum, Dollar Tree and Great Clips. Chris Garavaglia and Alex Perez of Marcus & Millichap marketed the property on behalf of the seller, Commonwealth Commercial. Steven Weinstock was Marcus & Millichap’s broker of record in Illinois.

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Cooper Street Annex

Arlington, Texas — Cooper Street Annex Ltd., a limited partnership managed by Weitzman, has acquired Cooper Street Annex, an 87,857-square-foot retail center located in the Dallas suburb of Arlington. Stephen R. Schmidt, Nick Cate and Eric Yoo internally represented the firm. Hudson Lambert of Dallas-based Summit RE represented the seller in the transaction. Weitzman will manage the center. Cooper Street Annex — which was fully leased at the time of sale — features a mix of tenants including Cavender’s Boot City, O’Reilly Auto Parts, Chuck E. Cheese Adventure World and WellMed. The …

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7-Brew-Indiana

Valparaiso, Ind. — Marcus & Millichap has arranged the $4.3 million sale of two adjacent single-tenant retail properties in two separate transactions located in Valparaiso. Chipotle is located at 2803 Calumet Ave. and 7 Brew is located at 2805 Calumet Ave. The newly constructed retail buildings operate on 15-year leases. Nicholas Kanich and Mitchell Kiven of Marcus & Millichap listed the property on behalf of the seller, an Indiana-based retail developer and operator, and procured both buyers, a Nevada-based investment and development firm and an Indiana-based investor and residential developer. 

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Randolph-movie-theater

Randolph, Mass. — Atlantic Capital Partners has sold a 112,265-square-foot single-tenant retail property located in Randolph, approximately 15 miles south of downtown Boston, for $9 million. Showcase Cinema occupies the building, which sits on nearly 13.5 acres. Justin Smith, David Smookler, Peter Considine, Danielle Turpin and Matt Austin of Atlantic Capital Partners represented the seller in the transaction and secured the buyer. The three-level theater has been operating since 1997.

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Shops-at-Hamilton-Mill

Dacula, Ga. — CenterSquare has sold the Shops at Hamilton Mill, a 43,518-square-foot retail center located in Dacula, an Atlanta suburb. The six-building center was fully leased to tenants including Wild Wing Café, J. Christopher’s, Kumon Learning Center and Pure Barre. Further details of the transaction were not disclosed.

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500 North Michigan Avenue

Chicago — Newmark has arranged the $41 million sale of the retail portion of 500 North Michigan Avenue along Chicago’s Magnificent Mile. The 21,565-square-foot space is fully leased to tenants such as Bank of America, Chick-fil-A and Vans. The property traded at a cap rate of 5.93 percent. Keely Polczynski of Newmark represented the undisclosed seller. The buyer was a private investor.

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270-West-Plant-Street_Winter-Garden

Winter Garden, Fla. — Foundry Commercial has brokered the $24.5 million sale of The Exchange, a mixed-use building located at 270 W. Plant St. in downtown Winter Garden, a suburb of Orlando. Delivered in 2021, the 42,800-square-foot property was fully leased to office tenants and retailers at the time of sale. The buyer is James Larweth, a private investor who has actively acquired assets in downtown Winter Garden. Chris DeMartino, Rick Helton, Dale Peterson, Joe Chick and Christine Mansour of Foundry represented the seller, the Keating family, in the transaction. …

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The Village at Allen

Allen, Texas — JLL Capital Markets has arranged the sale of The Village at Allen, an 851,457-square-foot retail center located in Allen, approximately 20 miles north of downtown Dallas. Chris Gerard, Barry Brown and Erin Lazarus of JLL represented the seller, an affiliate of DLC Management Corp. and American Realty Advisors. Sterling Organization was the buyer. The Village at Allen spans 109.5 acres and was 89 percent leased at the time of sale. Tenants include T.J. Maxx, HomeGoods, HomeSense, Sierra, Dick’s Sporting Goods, Ross Dress for Less, Best Buy, Nordstrom Rack, …

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Shops-at-Mockingbird

Dallas — JLL Capital Markets has arranged the sale of the Shops at Mockingbird, a 76,426-square-foot shopping center located in Dallas. Adam Howells, Erin Lazarus and Michael Jankovich of JLL represented the seller, Bill Hutchinson of locally based Dunhill Partners. Situated adjacent to Dallas Love Field Airport, the Shops at Mockingbird was built on 6.4 acres in 2008. LA Fitness anchors the property, which was 94.7 percent occupied at the time of sale. Additional tenants include Family Dollar, Tropical Smoothie, Leslie’s Pool Supplies and Fuzzy’s Taco.

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Starbucks_San_Bernardino

San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $3.6 million sale of a single-tenant retail property leased to Starbucks Coffee in San Bernardino. The newly constructed, drive-thru-only café prototype spans 1,200 square feet and operates on a 15-year triple-net corporate lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller, a local developer, in the transaction. David Kluver of Lee & Associates represented the buyer, a local investor from Orange County, California.

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