Investment sales

Festival-Manassas
Grocery-anchoredInvestment salesNewsVirginia

Finmarc Sells Shopping Center in Manassas, Virginia, for $24.5 Million

by Abby Cox

Manassas, Va. — Bethesda, Maryland-based Finmarc Management Inc. has sold Festival at Manassas, a 117,675-square-foot shopping center in Northern Virginia, for $24.5 million. JCR Cos. purchased the grocery-anchored property, which is located at 10288-10388 Festival Lane in Manassas. Ryan Sciullo, Chris Munley, Colin Behr and Casey Smith of CBRE represented Finmarc in the transaction. Situated near the intersection of Sudley and Portsmouth roads, Festival at Manassas was 88 percent leased at the time of sale to tenants including Global Foods, Golden Royal Buffet, SudsMore, My Salon Suites and Potbelly Sandwich …

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Link-OC-Anaheim-CA
CaliforniaInvestment salesNews

Newmark Pacific Arranges $16.5 Million Sale of Link OC Retail Center in Anaheim, California

by Abby Cox

Anaheim, Calif. — Newmark Pacific has arranged the $16.5 million sale of Link OC, a shopping center in Anaheim. An undisclosed seller sold the property to Northpond Acquisition. Located at 1071, 1081 and 1095 N. Tustin Ave., Link OC features 26,385 square feet of necessity-based retail space and was fully leased at the time of sale. Current tenants include Reborn Coffee, Wendy’s, Byblos Mediterranean Grill, Pampanga Food Co., Spin Poke & Grill and MD Clinics Urgent Care. The property was renovated in 2017. Pete Bethea, Glenn Rudy and Rob Ippolito of …

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Mandeville-Marketplace
Investment salesLouisianaNews

SRS Real Estate Negotiates $8 Million Sale of 62,324-Square-Foot Retail Property in Mandeville, Louisiana

by Abby Cox

Mandeville, La. — SRS Real Estate Partners has negotiated the $8 million sale of Mandeville Marketplace, a 62,324-square-foot retail center located in Mandeville. Built in 1988 on six acres, the property was fully leased at the time of sale to five tenants including Altitude Trampoline Park and Crunch Fitness. Sabrina Sapienza and Chad Lieber of SRS Real Estate represented the seller, a Louisiana-based owner. Ben Stalter of Maestri-Murrell represented the buyer, a Louisiana-based private investor, in the transaction.

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Terra-Nova
CaliforniaInvestment salesNews

JLL Arranges $30.4 Million Sale of 96,114-Square-Foot Retail Center in Metro San Diego

by Abby Cox

Chula Vista, Calif. — JLL has arranged the $30.4 million sale of Terra Nova Plaza, a 96,114-square-foot retail center located in Chula Vista, roughly eight miles south of downtown San Diego. The center, which was fully leased at the time of sale, is occupied by a 44,477-square-foot Dick’s Sporting Goods and a 51,637-square-foot Floor & Décor store. Terra Nova Plaza is situated within a larger 301,000-square-foot, grocery-anchored regional shopping center that features a mix of tenants including Smart & Final, CVS/pharmacy, Marshalls, Chase Bank, Taco Bell, Jack in the Box and …

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amberwood-plaza
Investment salesNewsOhio

Prudent Growth Partners Purchases Amberwood Plaza in Ashland, Ohio, for $3.5 Million

by Abby Cox

Ashland, Ohio — Prudent Growth Partners has purchased Amberwood Plaza, a 25,400-square-foot neighborhood center located in the north-central Ohio city of Ashland for $3.5 million. Constructed in 2006, Amberwood Plaza was 94 percent leased to 10 tenants at the time of sale including Tacos and Tequila and Verizon Wireless. More than 28 percent of the center has been occupied by the same tenants for over 15 years.

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Baybury-Square-Shopping-Center
Investment salesNewsTexas

Marcus & Millichap Negotiates Sale of Baybury Square Shopping Center Portfolio in Metro Dallas

by Abby Cox

Richardson, Texas — Marcus & Millichap has negotiated the sale of Baybury Square Shopping Center, a 51,542-square-foot retail portfolio located in Richardson, about 14 miles north of downtown Dallas. Built in 1966, the portfolio includes two multi-tenant shopping centers and two freestanding buildings situated on nearly 11 acres. The property was approximately 64 percent leased at the time of sale. Philip Levy and Scott Abeel of Marcus & Millichap marketed the property on behalf of the seller, an out-of-state private investor, and procured the buyer, a local real estate developer. The buyer plans …

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S-Coast-Hwy-101-1
CaliforniaInvestment salesNews

RPG Acquires 4,939-Square-Foot Multi-Tenant Retail Property in Suburban San Diego

by Abby Cox

Encinitas, Calif. — RPG has acquired a 4,939-square-foot multi-tenant retail property located in Encinitas, roughly 25 miles north of downtown San Diego. The building was fully leased at the time of sale to five tenants including three retail shops and two restaurants. The seller and terms of the transaction were not released.

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Townridge-Shopping-Center
FinanceInvestment salesNewsNorth Carolina

ACD Acquires Townridge Shopping Center in Raleigh, North Carolina, for $36 Million

by Abby Cox

Raleigh, N.C. — Armstrong Capital Development (ACD) has acquired Townridge Shopping Center, a 273,105-square-foot retail property located in Raleigh. Walmart and Planet Fitness anchor the center, which was 96 percent leased at the time of sale. Other tenants include Chipotle Mexican Grill, Advance Auto Parts, Cato, AT&T, Burger King, Edible Arrangements and Papa Johns Pizza, according to LoopNet Inc. The property features five buildings at Townridge Shopping Center, along with a single building at the adjacent Village at Townridge, that function together as a unified commercial site. Tom Kolarczyk, Michael Nieder …

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D&W Fresh Market
Investment salesMichiganNews

SRS Real Estate Negotiates $6.9 Million Sale of Single-Tenant Grocery Property in Kalamazoo, Michigan

by Abby Cox

Kalamazoo, Mich. — SRS Real Estate Partners has negotiated the $6.9 million sale of a single-tenant grocery property located in Kalamazoo. D&W Fresh Market occupies the 29,000-square-foot building on a corporate-guaranteed absolute triple-net lease. The current lease extends through 2031 and includes three five-year renewal options. The building was originally built in 1955.   Jeff Gates of SRS represented the seller, a Toronto-based investor group, in the transaction.  The buyer was an institutional investor. 

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peets-coffee
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $5 Million Sale of Single-Tenant Retail Property in Alameda, California

by Abby Cox

Alameda, Calif. — Marcus & Millichap has arranged the $5 million sale of a single-tenant retail property located in the Bay Area city of Alameda. Peet’s Coffee & Tea occupies the 3,000-square-foot building on a 10-year lease with annual rent increases. Mark Mason of Marcus & Millichap procured the buyer, a California-based private corporate trust. Brandon Norton and David Lucas of Monarch Commercial Advisors represented the seller, a California-based add-value private client.

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