Hollywood, Fla. — Marcus & Millichap has brokered the $4.1 million sale of a 2,800-square-foot retail property located along the Hollywood Beach boardwalk in South Florida’s Broward County. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office marketed the property on behalf of the seller, a private South Florida-based investment group. The two-tenant retail property is fully leased to Fat Tuesday and Hollywood Beach Trikke, which has operated at the site since 2009.
Miami — Miami-based Gazit Horizons has acquired Sunset West Shopping Center, a 73,072-square-foot neighborhood shopping center located at the intersection of Sunset Drive and SW. 87th Avenue in Miami. The seller and sales price were not disclosed. Situated roughly two miles from Baptist Hospital of Miami, the fully leased center is home to a mix of tenants including Chicken Kitchen, Ole’s Jewelry Avenue, Subway, Chase Bank, The UPS Store, Integrum Medical Group, Arturito’s Pharmacy, Sunset Animal Clinic, Salvatore D. Fine Italian Cuisine, Moderna Smile and Sunset Bakery. A new Aldi grocery …
Mooresville, N.C. — Red Bank, New Jersey-based Lucern Capital Partners has acquired Marathea Plaza, a 33,600-square-foot retail center located at 2785 Charlotte Highway in Mooresville, for $6.3 million. Tenants at the center include Papa John’s Pizza, Jackson Hewitt, Huang’s Chef and Bambini Italian Restaurant. The property spans roughly 4.5 acres.
Rancho Cucamonga, Calif. — Southern California-based firms Redwood West and Panattoni, in partnership with Prime Finance and Prism Places, have acquired Victoria Gardens, a 1.2 million-square-foot lifestyle retail center located in the Inland Empire city of Rancho Cucamonga. New York City-based Brookfield Properties, a subsidiary of Brookfield Corp., sold the open-air mall for $530 million. Ares Real Estate provided debt financing for the transaction. “We see tremendous opportunity with Victoria Gardens,” says John Pomer, co-founder and managing partner at Redwood West, “It is a one-of-a-kind, highly productive asset with deep roots in …
Noblesville, Ind. — Cushman & Wakefield has arranged the sale of Stony Creek Marketplace, a 204,810-square-foot, regional shopping center located in Noblesville, roughly 27 miles north of Indianapolis. Best Buy, T.J. Maxx and HomeGoods anchor the property, which was built in 2003. Other tenants include Barnes & Noble, Five Below, PetSmart, Ross Dress for Less and Shoe Carnival. Stony Creek Marketplace was fully leased at the time of sale. Evan Halkias, David Matheis and Bill French of Cushman & Wakefield represented the seller, Rainier Cos., in the transaction. The buyer was …
Owens Cross Roads, Ala. — Franklin Street has brokered the sale of Hampton Cove Shops, a 41,681-square-foot retail center located in Owens Cross Roads, approximately 15 miles southeast of Huntsville. Bryan Belk and John Tennant of Franklin Street represented the seller, Fairway Investments, in the transaction. Prudent Growth Partners purchased the property for $7.6 million. Built in 2008, Hampton Cove Shops was 96 percent leased at the time of sale to tenants including Dollar Tree, H&R Block, sports bar Jefferson’s, We Rock the Spectrum Kid’s Gym and ALFA Insurance.
New York City — Marcus & Millichap has arranged the $21.3 million sale of 156-168 Bleecker Street, a 27,541-square-foot retail condominium located in the Greenwich Village neighborhood of Manhattan. Mission Capital, a subsidiary of Marcus & Millichap Capital Corp. (MMCC), arranged acquisition financing. Eric Anton and Adam Steiner of Marcus & Millichap, along with David Tobin, Spencer Kirsch and Pierre Bonan of Mission Capital, represented the seller and procured the buyer in the transaction. Built in 1896, 156-168 Bleecker Street includes eight retail suites totaling 26,752 square feet and a …
Kansas City, Mo. — Block & Co. Inc. Realtors has negotiated the sale of New Mark Shopping Center, an 81,884-square-foot neighborhood center located at North Oak Trafficway and 102nd Street in Kansas City. A 52,000-square-foot Sun Fresh Grocery anchors the center, which was 95 percent leased at the time of sale. David Block and Jay Friedman of Block & Co. represented the seller in the transaction. The buyer, an out-of-state investor, purchased New Mark Shopping Center for an undisclosed price. Block & Co. has managed and leased New Mark since acquiring the property in …
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 …
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 …
