Investment sales

Plaza-Bonita_National-City
CaliforniaInvestment salesNews

Henderson Park, Lowe Acquire Metro San Diego Mall for $201.5 Million, Plan Upgrades

by Abby Cox

National City, Calif. — A joint venture between Henderson Park and Lowe has acquired Plaza Bonita, a 1 million-square-foot enclosed regional mall in National City within San Diego County. The seller and sales price were not disclosed, but The San Diego Union-Tribune reports that Paris-based mall giant Unibail-Rodamco-Westfield sold the property for $201.5 million. Built in 1981, Plaza Bonita sits on a 78-acre site and serves the San Diego suburbs of National City and Chula Vista. Anchor tenants of the mall include Macy’s, Target, JCPenney, AMC Theatres, Nordstrom Rack and Round1. Overall, the …

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West Pembroke Square
FloridaInvestment salesNews

Marcus & Millichap Brokers $8.3 Million Sale of Retail Property in Pembroke Pines, Florida

by Abby Cox

Pembroke Pines, Fla. — Marcus & Millichap has brokered the $8.3 million sale of West Pembroke Square, a 30,250-square-foot retail property located in Pembroke Pines, a city in South Florida’s Broward County. Built in 1987 on nearly 3.8 acres, West Pembroke Square features 19 retail suites and 180 parking spaces. Tenants include Dunkin’, a church, a convenience store and a dance studio. Matt Albregts represented the seller, an entity doing business as West Pembroke Square LLC. Jonathan De La Rosa and Eddie Toledo of Marcus & Millichap procured the buyer, Jorge …

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University-Station
GeorgiaInvestment salesNews

Colliers Negotiates Sale of 30,865-Square-Foot Retail Center in Statesboro, Georgia

by Abby Cox

Statesboro, Ga. — Colliers has negotiated the sale of University Station, a newly constructed, 30,865-square-foot retail center located near the Georgia Southern University campus in Statesboro. Tenants at the center, which was fully leased at the time of sale, include QDOBA, Hotworx, Eyemart Express, Uptown Cheapskate, Blaze Pizza and Oconee State Bank, among others. The property is part of a larger development surrounding the university that includes a recently developed Publix-anchored shopping center, new student housing projects and additional residential growth. Henry Kushner, Ashley Smith and Tyler Mouchet of Colliers represented …

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hannah-plaza
Investment salesMarylandNews

Timber Development Sells 65,000-Square-Foot Shopping Center in Western Maryland for $2.2 Million

by Abby Cox

Cresaptown, Md. — Atlanta-based Timber Development Corp. has sold Hannah Plaza, a 65,000-square-foot shopping center located in Cresaptown, a city in Allegany County. An auto dealer purchased the property for $2.2 million, and plans to convert the empty grocery anchor space into a car dealership. The remainder of the center is fully leased to small shops. Doug Macy of Long & Foster brokered the transaction on behalf of the buyer.

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2029-S-Hacienda-Blvd-Hacienda-Heights-CA
CaliforniaInvestment salesNews

Marcus & Millichap Brokers $13 Million Sale of Retail Center in Hacienda Heights, California

by Abby Cox

Hacienda Heights, Calif. — Marcus & Millichap has brokered the $13 million sale of Hacienda Village, a 23,645-square-foot retail center located in Hacienda Heights, approximately 19 miles southeast of downtown Los Angeles in the San Gabriel Valley. Built in 1963, the property features 17 retail suites that are leased to a mix of local food-and-beverage and service-oriented tenants. A Los Angeles-based private investor acquired the property for $549.80 per square foot. Ron Duong of Marcus & Millichap represented the seller, an Orange County, California-based private partnership, in the transaction.

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Investment salesNewsVirginia

SRS Real Estate Arranges $14.9 Million Sale of Two-Tenant Retail Property Near Washington, D.C

by Abby Cox

Vienna, Va. — SRS Real Estate Partners has arranged the $14.9 million sale of a two-tenant retail property located in Vienna, roughly 15 miles west of Washington, D.C. Built in 2019, the two-story building is fully occupied by Chick-fil-A on the ground floor, while Flagship Carwash operates a full-service facility on the second floor. Andrew Fallon and Philip Wellde of SRS represented the seller, the original developer of the property. The buyer was a local investor.

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The-Shoppes-at-Parma
Grocery-anchoredInvestment salesNewsOhio

Hendon Properties Acquires 734,199-Square-Foot Shopping Center in Metro Cleveland, Ohio

by Abby Cox

Parma, Ohio — Atlanta-based Hendon Properties, in a joint venture with Axiom Realty and Peaceable Street Capital, has acquired The Shoppes at Parma in the Cleveland suburb of Parma. Anchor tenants at the 734,199-square-foot shopping center include Walmart Supercenter, Burlington, Dick’s Sporting Goods and grocer Marc’s. The deal includes six outparcels with a variety of tenants such as Crumbl Cookies, T-Mobile, Five Guys Burgers & Fries and Panera Bread. Opened in 1956, the property was formerly known as Parmatown Mall. The center marks the fifth property acquired by The Hendon …

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Comatara-Center
Investment salesKansasNews

Prudent Growth Partners Acquires Neighborhood Center in Wichita, Kansas, for $7.7 Million

by Abby Cox

Wichita, Kan. — North Carolina-based Prudent Growth Partners has acquired Comotara Center, a 55,650-square-foot neighborhood center located in Wichita, for $7.7 million. Originally constructed in 1985 and expanded in 1987, the center was 93 percent leased at the time of sale to 13 tenants including Dollar Tree, Five Guys, Edward Jones and State Farm.

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South-Town-Crossing-II
Investment salesNewsTexas

Westwood Financial Purchases 23,300-Square-Foot Retail Center in Metro Fort Worth, Texas

by Abby Cox

Burleson, Texas — Los Angeles-based Westwood Financial has acquired South Town Crossing II, a 23,300-square-foot retail center located in Burleson, approximately 13 miles south of downtown Fort Worth. Target shadow anchors the property, which adjoins South Town Crossing I, a 59,986-square-foot retail center. South Town Crossing II was fully leased at the time of sale to tenants including Petco, Mathnasium, Mattress Firm and Glitz Nails. With this acquisition, Westwood now owns 83,286 square feet within South Town Crossing, representing 82 percent of the shop space surrounding the Target anchor.

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mayfair-shopping-center
Grocery-anchoredInvestment salesNew YorkNews

Brixmor Acquires 221,612-Square-Foot Mayfair Shopping Center in Commack, New York, for $70 Million

by Abby Cox

Commack, N.Y. — Brixmor Property Group has acquired Mayfair Shopping Center, a 221,612-square-foot retail property located in the Long Island community of Commack for $70 million. Lidl, Planet Fitness and PGA TOUR Superstore anchor the property, which was built in 1958. Other tenants at the center include Gap, Sephora, J.Crew Factory, H&R Block, and Tropical Smoothie Café. M Nail and Lash Bar recently signed a new lease at the retail center, while MyGym opened this January. Kid’s Empire, which is under construction, is expected to open later this year. Allison Villamagna …

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