Austin, Texas — Asana Partners has acquired The Arboretum, a nearly 200,000-square-foot neighborhood center located in the Great Hills neighborhood of Austin. Asana plans to renovate the property, introduce activations for community engagement and create a merchandising mix that caters to nearby residents. In addition to refreshing the property, Asana will reconfigure the commons areas to support live music, pop-up retail and community programming; establish new patios for outdoor dining; improve connectivity throughout the property; and replace storefront signage. Site work at The Arboretum will begin this summer, with completion scheduled …
King, N.C. — Cleeman Realty Group has brokered the sale of Mountain View Plaza, a 44,000-square-foot shopping center in King, roughly 16 miles northwest of Winston-Salem. Food Lion has anchored the 9.9-acre property since 2005. Other tenants include a Mexican restaurant, hibachi restaurant, barbershop, nail salon and a pet groomer. The seller, an unnamed family ownership group, sold the property to a group of private investors completing a 1031 exchange. Jeremy Scheer and Sara Shulman of Cleeman Realty represented both the buyer and the seller in the transaction. The sales …
Houston — Headwall Investments has acquired Louetta Retail Center, a 34,128-square-foot retail property located in Houston. Tenants at the center include Chrysolite Aesthetics, Beltone Hearing Care Center, Retina Consultants of Texas, Dogtopia and Medella Urgent Care. Matt Maglothin of Altrue Capital arranged the sale on behalf of Headwall Investments, while Kendall Kerr and Tim Gregory of JLL represented the seller. Louetta Retail Center marks the firm’s 23rd unanchored shopping center acquisition.
Huntington Beach, Calif. — JLL Capital Markets has arranged the $151 million sale of Seacliff Village, a 253,234-square-foot, grocery-anchored shopping center in Huntington Beach. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL represented the seller, Barings, and procured the buyer, Asana Partners, in the transaction. Anthony Fertitta Jr. and John Marshall, also of JLL, arranged $83.8 million in acquisition financing. A nearly 70,000-square-foot Albertsons grocery store anchors the property, which was 95.8 percent leased at the time of sale. Additional tenants include LA Fitness, Staples, Panera Bread and Starbucks Coffee, …
Schaumburg, Ill. — A joint venture between PCCP and Hutensky Capital Partners has acquired Streets of Woodfield, a 690,000-square-foot shopping center located in the northwestern Chicago suburb of Schaumburg. According to the Daily Herald, Blackstone sold the property for $69 million. Blackstone originally purchased the shopping center for $168.5 million in 2015. Built in 1991, Streets of Woodfield was 94 percent leased to 22 tenants at the time of sale including Whole Foods Market, Dick’s House of Sport, AMC Theatres, Restoration Hardware Outlet, Legoland and Dave & Buster’s.
Winter Haven, Daytona Beach and Ocoee, Fla. — SRS Real Estate Partners has negotiated the sale of three single-tenant retail properties in two separate transactions for $28.8 million in Florida. Each newly constructed property is occupied by 7-Eleven on a 15-year, corporate-guaranteed absolute triple-net lease. The first property in Winter Haven sold for $9.5 million, while the second property in Ocoee sold for $9.67. The final property in Daytona Beach sold for $9.5 million. Patrick Nutt and William Wamble represented the sellers, Florida-based developers, in the transaction. The Winter Haven and …
Coral Springs, Fla. — Pliskin Realty & Development has acquired Turtle Run Shoppes, an 80,000-square-foot retail center located in Coral Springs, a city in South Florida’s Broward County, for $19.5 million. Built in 1990 and renovated in 2018, Turtle Run Shoppes was 92 percent leased at the time of sale. Tenants include America’s Best Contacts and Eyeglasses, Cycle Gear, My Salon Suite, Smoothie King, La Brasas Bar & Restaurant, the U.S. Postal Service and Ross Dress for Less, which anchors the center. Douglas Mandel, Zach Levine and Cody Hershey of Marcus …
Plainville, Conn. — Marcus & Millichap has brokered the $5.2 million sale of Olde Canal Plaza, a 34,194-square-foot retail center located in Plainville, a southwestern suburb of Hartford. Built in 1987 on more than 3 acres, Olde Canal Plaza is 93 percent leased to office, medical and retail tenants, such as The Pottery Piazza, Husky Pizza, Connecticut Centers for Neuropathy and sweetFrog Yogurt, according to Loop Net. Mark Krantz and Derrick Dougherty of Marcus & Millichap procured the buyer, a private investor based in New York. Frank Amodio and Eric Amodio of Amodio & …
Iowa, Minnesota and Nebraska — Marcus & Millichap has brokered the $41.6 million sale of a collection of 18 triple net leased early childhood development centers in Iowa, Minnesota and Nebraska. Spencer Berkley, Mark Ruble, Chris Lind, Zack House, Jon Ruzicka and Adam Lewis of Marcus & Millichap represented the sellers, Ben Ditzer and Bob Carlson of Triple Net Capital, and procured the buyer, a Florida-based real estate investment trust. The portfolio included a range of lease structures and ownership entities. Two additional properties were sold separately to private buyers …
Piqua, Ohio — Cooper Commercial Investment Group has negotiated the sale of a single-tenant retail property located in Piqua, roughly 28 miles north of Dayton. Chipotle Mexican Grill occupies the building — which includes a drive-thru and patio seating — on a new 15-year lease featuring 10 percent rental increases in the sixth and 11th years. Dan Cooper of Cooper Commercial represented the seller. The all-cash, 1031 exchange buyer was based in California.
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