Investment sales

28-Newbury-St.-Boston
Investment salesMassachusettsNews

Newmark Arranges $113.5 Million Sale of Two Boston Retail Properties

by Abby Cox

Boston — Newmark has arranged the $113.5 million sale of two retail properties in Boston’s Back Bay neighborhood. The properties are located at 4-6 and 28 Newbury St. and house flagship stores of luxury retailers Chanel and Cartier. The Chanel store spans 10,328 square feet across two stories, and the Cartier store totals 18,942 square feet. Robert Griffin, Geoffrey Millerd and Paul Penman of Newmark represented the seller, New York City-based ASG Equities, in the transaction. The team also procured the buyer, a joint venture between Acadia Realty Trust and …

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Valley-Plaza-Pomona-CA
CaliforniaInvestment salesNews

Progressive Real Estate Partners Brokers $2.6 Million Sale of 11,720-Square-Foot Retail Center in Metro Los Angeles

by Abby Cox

Pomona, Calif. — Progressive Real Estate Partners has brokered the $2.6 million sale of Valley Plaza, an 11,720-square-foot, multi-tenant retail property located in Pomona, approximately 30 miles east of downtown Los Angeles. Built in 1993, Valley Plaza was fully leased at the time of sale to tenants such as Maria’s Taco/Panaderia Jaliscos, Pomona Water & Ice, Pearl Dental Care and Curry Time. Trinnie Lee of Progressive Real Estate Partners represented the seller, a private investor, while Mark Wilson of Channel Investment Group represented the buyer, also a private investor, in …

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Ghirardelli-Square_San-Francisco_Evening
CaliforniaInvestment salesMixed-useNews

Jamestown Sells Historic Ghirardelli Square Shopping Center in San Francisco

by Abby Cox

San Francisco — Jamestown LP, a mixed-use developer and operator based in Atlanta, has sold Ghirardelli Square, a historic waterfront shopping center located at 900 N. Point St. in San Francisco’s Fisherman’s Wharf District. The property comprises 12 interconnected brick buildings fronting San Francisco Bay and includes the namesake 19-foot illuminated Ghirardelli sign and that has been part of the city’s skyline since 1915. Miami-based investment firm Embrace Real Estate and its affiliate asset management company 1823 Partners purchased Ghirardelli Square from Jamestown for an undisclosed price. The new ownership has …

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Prairieview Center
Investment salesMinnesotaNews

Cushman & Wakefield Brokers $27.7 Million Sale of Grocery-Anchored Shopping Center in Suburban Minneapolis

by Abby Cox

Eden Prairie, Minn. — Cushman & Wakefield has brokered the $27.7 million sale of Prairieview Center, a 113,601-square-foot shopping center located in Eden Prairie, roughly 12 miles southwest of downtown Minneapolis. Lunds & Byerlys anchors the property, which was fully leased at the time of sale. Additional tenants include Starbucks Coffee, Culver’s and Chase Bank. Prairieview Center was originally built in 1986 and renovated in 2018. Evan Halkias, David Matheis and Zander Fried of Cushman & Wakefield represented the seller, United Properties, in the transaction. The buyer was Phillips Edison & …

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Dollar_General_Portfolio_
Investment salesNewsTennessee

Matthews Facilitates Sale of 17-Property Dollar General Retail Portfolio in Eight States

by Abby Cox

Nashville, Tenn. — Matthews has facilitated the sale of a 17-property Dollar General retail portfolio. The portfolio spans eight states: Arkansas, Iowa, Kentucky, Louisiana, Michigan, New York, Pennsylvania and Tennessee. The portfolio closed at 98.8 percent of the listing price and features absolute triple-net lease structures with a 10.2-year weighted average lease term.

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CaliforniaGrocery-anchoredInvestment salesNews

Mahoney & Associates Arranges $37.5 Million Sale of Carmel Rancho Shopping Center in California

by Abby Cox

Carmel-By-The-Sea, Calif. — Mahoney & Associates has arranged the $37.5 million sale of Carmel Rancho Shopping Center, a retail center located on the Central Coast of California in Carmel-by-the-Sea. Situated on a 295,335-square-foot land parcel, Carmel Rancho Shopping Center has 77,002 square feet of retail space. Tenants at the center include Lucky Supermarket and BevMo!. Ryan Edwards, Josh Jones and Patrick Stafford of Mahoney & Associates represented the buyer, Montage Health, and the undisclosed seller, in the deal.

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Eastgate Shopping Center
Investment salesNewsOhio

Prudent Growth Acquires Eastgate Shopping Center in Metro Cincinnati for $3.3 Million

by Abby Cox

Batavia, Ohio — Chapel Hill, North Carolina-based Prudent Growth Partners has acquired Eastgate Shopping Center, a 20,520-square-foot shopping center located in Batavia, approximately 25 miles east of downtown Cincinnati, for $3.3 million. Situated along Old State Route 74, the center was 94 percent leased at the time of sale to tenants including State Farm, Farmers Insurance, Merry Maids and Avis/Budget. Tenants at the center operate on long-term, triple-net lease structures.

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Investment salesNewsPennsylvania

Roadside Development Acquires Galleria at Mt. Lebanon in Pittsburgh

by Abby Cox

Pittsburgh — Washington, D.C.-based Roadside Development has acquired Galleria at Mt. Lebanon, a 168,000-square-foot shopping center located in the Mt. Lebanon neighborhood of Pittsburgh. The Galleria at Mt. Lebanon was originally constructed as a Kaufmann’s department store and later converted to an indoor mall in 1988. Current tenants at the two-story shopping center include Anthropologie, Pottery Barn, Williams-Sonoma, Orvis, Evereve, AMC Theatres and Club Pilates, along with restaurants such as The Yard Gastropub, Houlihan’s, Mitchell’s Fish Market, Panera Bread and Starbucks. Roadside’s plans for the property are currently in development. In …

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Starbucks_Tide_Bonita-Springs
FloridaInvestment salesNews

Marcus & Millichap Brokers $3.8 Million Sale of Retail Strip Center in Southwest Florida

by Abby Cox

Bonita Springs, Fla. — Marcus & Millichap has brokered the $3.8 million sale of a 4,665-square-foot retail strip center located at 27250 Bay Landing Drive in Bonita Springs, a city in southwest Florida. Built in 2000 and renovated in 2014, the freestanding center was fully occupied on long-term, triple-net leases by Starbucks Coffee and Tide Cleaners. Chris Garavaglia, Andrew Muth and Alex Perez of Marcus & Millichap’s St. Louis office represented the seller, a private developer, and procured the buyer, a Florida-based investor, in the transaction. Ryan Nee served as Marcus …

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Las-Palmas-Village-LV-NV
Grocery-anchoredInvestment salesNevadaNews

Brixton Capital Acquires Las Palmas Village Shopping Center in Las Vegas for $29.4 Million

by Abby Cox

Las Vegas — Brixton Capital has purchased Las Palmas Village, a 106,838-square-foot shopping center in Las Vegas, from Australia-based Cop Group for $29.4 million. Vons anchors Las Palmas Village, which was 95 percent occupied at the time of sale. Additional tenants include Starbucks Coffee, Wells Fargo, Pizza Hut, The UPS Store and Taco Bell. Brixton plans to implement a capital improvements program, with renovations such as landscaping, new paint, roof repairs, HVAC and parking lot resurfacing upgrades. Dan Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller, while …

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