Investment sales

Trinity Village Center
FloridaInvestment salesNews

Colterra Capital Sells Trinity Village Center in Metro Tampa, Florida, for $23 Million

by Abby Cox

Trinity, Fla. — Canadian-based real estate company Colterra Capital Corp. has sold Trinity Village Center, a 76,834-square-foot retail property located in Trinity, roughly 30 miles north of Tampa. According to the Tampa Bay Business Journal, Crow Holdings purchased the center for $23 million. Trinity Village Center, which features outparcels and a multi-tenant building, was 93 percent leased at the time of sale to tenants including Bonefish, Synovus Bank and Tampa General. Tommy Isola and Whitaker Leonhardt of Colliers represented Colterra Capital Corp. in the transaction.

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Stop-and-Shop
ConnecticutGrocery-anchoredInvestment salesNews

CBRE Arranges $17.3 Million Sale of Single-Tenant Retail Property Near Hartford, Connecticut

by Abby Cox

Simsbury, Conn. — CBRE has arranged the $17.3 million sale of a single-tenant retail property located in Simsbury, approximately 11 miles northwest of Hartford. Stop & Shop anchors the 69,948-square-foot building and is situated within Simsbury Commons, a 256,804-square-foot retail center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Primex Capital, and procured the buyer, in the transaction. Other tenants at Simsbury Commons include Walgreens, Raising Cane’s and Apple Cinemas.

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ColoradoInvestment salesNewsRestaurants

Red Robin Completes Sale of 108 Restaurants for $89.4 Million

by Abby Cox

Englewood, Colo. — Red Robin Gourmet Burgers Inc. has completed the sale of 108 company-owned units to multi-unit franchise operators for approximately $89.4 million in gross proceeds. The company announced the transactions in the second quarter of this year. Under the terms of each agreement, each of the multi-unit restaurant operators has begun operating restaurants in the following markets under the same Red Robin brand: • Kuber Oregon LLC and Kuber Washington LLC acquired 17 restaurants based in Oregon and Washington for $10 million. • Evergreen Dining LLC acquired 30 restaurants …

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1525-W-Michigan-Ave-Battle-Creek-MI-2
Grocery-anchoredInvestment salesMichiganNews

Legacy Realty Brokers $4.6 Million Sale of 111,935-Square-Foot Grocery-Anchored Center in Southwest Michigan

by Abby Cox

Battle Creek, Mich. — Legacy Realty Group Advisors has brokered the $4.6 million sale of Urbandale Plaza, a 111,935-square-foot retail center located in the Southwest Michigan city of Battle Creek, approximately 25 miles east of Kalamazoo. Family Fare anchors the center, which features other tenants such as Dollar Tree. Jacob Baruch and Jonah Warshaw of Legacy Realty represented the buyer, a private investor, in the transaction. The seller was also a private investor.

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Stanley-Marketplace
ColoradoFinanceInvestment salesNews

JLL Negotiates $41.2 Million Sale of Stanley Marketplace in Metro Denver

by Abby Cox

Aurora, Colo. — JLL Capital Markets has arranged the $41.2 million sale of Stanley Marketplace, a 102,125-square-foot adaptive reuse retail development located in the Denver suburb of Aurora. Jason Schmidt and Austin Snedden of JLL represented the seller, Westfield Co., in the transaction. Leon McBroom and William Haass, also of JLL, secured a five-year, $27.3 million acquisition loan through a reginal bank on behalf of the buyer, Magnetic Capital. Originally constructed in 1954 as an ejection seat manufacturing facility, the redeveloped retail property is currently 98 percent leased to a mix …

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three-tenant-retail-new-mexico
Investment salesNew MexicoNews

Faris Lee Brokers $4 Million Sale of Retail Strip Center in Albuquerque, New Mexico

by Abby Cox

Albuquerque, N.M. — Faris Lee Investments has brokered the $4 million sale of a newly constructed, three-tenant retail strip center located in Albuquerque. The 5,375-square-foot property was fully leased to El Pollo Loco, Jamba and Xfinity at the time of sale. Jeff Conover, Scott DeYoung and Greg Lukosky of Faris Lee represented both the seller, a New Mexico-based developer, and the all-cash buyer, a private East Coast-based investor, in the transaction.

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Cross-County-Plaza
GeorgiaGrocery-anchoredInvestment salesNews

Atlantic Capital Partners Brokers $48.2 Million Sale of Publix-Anchored Center in Columbus, Georgia

by Abby Cox

Columbus, Ga. — Atlantic Capital Partners has brokered the $48.2 million sale of Cross Country Plaza, a 304,735-square-foot shopping center located in Columbus. Anchored by Publix, the property was 95 percent leased at the time of sale. Other tenants include T.J. Maxx, Burlington and 2nd & Charles. Fred Victor of Atlantic Capital Partners represented the seller, Hackney Real Estate, in the transaction. The buyer was Brasswater, a Canadian-based real estate development and investment firm headquartered in Montreal, Quebec.

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8400-E-Iliff-Ave-Denver-CO
ColoradoInvestment salesNews

Marcus & Millichap Brokers $8.5 Million Sale of Wabash Marketplace Shopping Center in Denver

by Abby Cox

Denver — Marcus & Millichap has brokered the sale of Wabash Marketplace, a 34,846-square-foot shopping center in Denver’s Cherry Creek neighborhood. An entity doing business as Wabash Retail LLC sold the property for $8.5 million, or $243 per square foot. Wabash Marketplace is leased to a mix of local and service-oriented tenants, including restaurants, a coffee shop, fitness and beauty business and a home décor retailer. The property was built in 1983 on 2.1 acres. Cory Gross of Marcus & Millichap represented the seller and sourced the buyer, a private …

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Highlands-Village-Shopping-Center
FinanceInvestment salesNew JerseyNews

JLL Arranges Sale, Financing of 60,614-Square-Foot Retail Center in Northern New Jersey

by Abby Cox

Basking Ridge, N.J. — JLL Capital Markets has arranged the sale of Highlands Village Shopping Center, a 60,614-square-foot shopping center located within The Hills at Basking Ridge master-planned community in the Northern New Jersey city of Basking Ridge. Built in 2000 on roughly 11 acres, the center spans five buildings and was fully leased at the time of sale to 18 tenants. Anchored by Walgreens and a United States Postal Service, additional tenants include essential services, health and wellness, education, food-and-beverage and recreation-based businesses. Kevin O’Hearn, Jose Cruz, J.B. Bruno and …

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