Investment sales

Merchants-Walk
GeorgiaGrocery-anchoredInvestment salesNews

Sterling Organization Acquires Whole Foods-Anchored Shopping Center in Metro Atlanta for $93.2 Million

by Abby Cox

Marietta, Ga. — Sterling Organization has acquired Merchants Walk, a 271,992-square-foot shopping center located in Marietta, roughly 20 miles northwest of downtown Atlanta, for $93.2 million. The investment was made on behalf of Sterling’s $600 million equity institutional value-add fund, Sterling Value Add Partners IV. Whole Foods Market anchors Merchants Walk, which was 90 percent leased at the time of sale. Additional tenants include Marshalls, PetSmart, Old Navy, DSW, Ulta Beauty, Office Depot and Georgia Theater Company Cinemas. EDENS, an owner, developer and operator of open-air retail and mixed-use properties, was …

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Grocery-anchoredInvestment salesNewsWashington

Kiemle Hagood Brokers $32 Million Sale of Multi-Tenant Retail Property in Spokane, Washington

by Abby Cox

Spokane, Wash. — Spokane-based Kiemle Hagood has negotiated the $32 million sale of 5 Mile Shopping Center, a 163,000-square-foot, multi-tenant retail center in north Spokane. Romax 5 Mile LLC purchased the grocery-anchored property from 5-Mile Investment Company I LLC. Situated on 14.2 acres at 1812 W. Francis, the property features a mix of tenants including Rosauers, Starbucks Coffee, Chipotle Mexican Grill, Taco Bell, Washington Trust Bank, Mister Car Wash, GNC and Edward Jones. Casey Brazil and Richard Fox of Kiemle Hagood represented the seller, while Colin Conway and Steve McIntosh of …

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Publix_Plaza-Normandy_Jacksonville
FloridaGrocery-anchoredInvestment salesNews

TSCG Arranges $20.7 Million Sale of Publix-Anchored Shopping Center in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — TSCG has brokered the $20.7 million sale of The Plaza at Normandy, a 58,691-square-foot, Publix-anchored shopping center located at the intersection of Normandy Boulevard and Chaffee Road South in Jacksonville. Built in 2024, The Plaza at Normandy was fully leased at the time of sale to Publix, Publix Liquor Store, Xtreme Wings, Hair Cuttery, Nail Art Studio & Spa, The UPS Store and AT&T Wireless. The shopping center includes outparcels for McDonald’s and Wawa that were not part of the sale. An unnamed 1031 exchange buyer purchased the …

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Pep-Boys
FloridaInvestment salesNew YorkNews

Mavis Tire Agrees to Acquire Pep Boys from Icahn Enterprises for $700 Million

by Abby Cox

White Plains, N.Y. and Sunny Isles Beach, Fla. — Mavis Tire Express Services Corp. and Icahn Enterprises LP have entered into a definitive agreement under which a subsidiary of Mavis will acquire Pep Boys from Icahn Automotive Group LLC for approximately $700 million in cash. IEP will retain the owned real estate previously transferred to IEP from Pep Boys, as well as the AAMCO Transmissions and Precision Tune Auto Care businesses. Formally named The Pep Boys-Manny, Moe & Jack Holding Corp., Pep Boys is an automotive service company offering tires, repairs, …

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Commerce-Centre
Investment salesLouisianaNews

Marcus & Millichap Brokers Sale of 33,744-Square-Foot Multi-Tenant Retail Property in Metro Baton Rouge, Louisiana

by Abby Cox

Prairieville, La. — Marcus & Millichap has brokered the sale of Commerce Centre, a 33,744-square-foot multi-tenant retail property located in Prairieville, approximately 15miles southeast of downtown Baton Rouge. Situated on roughly four acres, the center was built in 2015 and features 15 retail suites. Commerce Centre was 72 percent occupied at the time of sale. Cole Voyles, Gus Lagos and Alex Wolansky of Marcus & Millichap marketed the property on behalf of the seller, a local owner, and procured the buyer, an East Coast-based investor. Steve Greer was Marcus & Millichap’s …

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Mosiac_retail-portfolio
CaliforniaInvestment salesNews

CBRE Arranges $30 Million Sale of Six-Building Retail Portfolio in Long Beach, California

by Abby Cox

Long Beach, Calif. — CBRE has arranged the $30 million sale of Mosaic, a six-building retail portfolio located in downtown Long Beach. Totaling 148,405 square feet, the portfolio includes 50 East 4th Street; 145 East 4th Street; 300 and 325 The Promenade North; and 480 and 590 Pine Avenue. Tenants located within Mosaic, which was 78 percent occupied at the time of sale, include Ross Dress for Less, Studio One Eleven/RDC, Ammatoli, Pacific Dental, Panda Express, Wingstop, GNC, GameStop, U.S. Army, U.S. Armed Forces and City of Long Beach, among others. …

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DevelopmentGeorgiaInvestment salesNews

Centurion Foundation Acquires Northlake Mall in Metro Atlanta for $95M, Plans Expansion for Emory Healthcare

by Abby Cox

Tucker, Ga. — Centurion Foundation, an independent nonprofit organization that specializes in real estate and financing solutions for the healthcare and higher education sectors, has acquired Northlake Mall, a nearly 1 million-square-foot shopping center in the Atlanta suburb of Tucker, from Dallas-based ATR Corinth Partners. Following the $95 million acquisition, Northlake Mall will be transformed into an expanded campus for Emory Healthcare. Emory has leased approximately 274,000 square feet of space at the mall for administrative and clinical operations since 2019 and will soon lease most of the property. The sale …

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Cedar Tree Village Shopping Center
CaliforniaGrocery-anchoredInvestment salesNews

Visintainer Group Brokers $20.8 Million Sale of Grocery-Anchored Center in Fresno, California

by Abby Cox

Fresno, Calif. — Visintainer Group has brokered the $20.8 million sale of Cedar Tree Village Shopping Center, a 118,417-square-foot shopping center located in Fresno. R-N Market anchors the property, which features a mix of additional tenants such as McDonald’s and Dollar Tree. The center was 96.3 percent leased at the time of sale, according to The Business Journal. Brett Visintainer and John Kourafas of Fresno-based Visintainer Group represented the seller, an entity doing business as Cedar Tree Village LLC, in the transaction. The buyer was Pacific Castle. The original developer’s …

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Western-Centers-Portfolio-CO
ColoradoInvestment salesNews

Western Centers Sells Three-Property Retail Portfolio in Metro Denver for $30.3 Million

by Abby Cox

Parker, Aurora And Littleton, Colo. — Western Centers Inc. has sold a three-property retail portfolio in metro Denver to CentrePoint Properties for $30.3 million. The portfolio includes the 56,000-square-foot Cottonwood Square in Parker, the 26,000-square-foot Bristol Pointe in Aurora and the 28,000-square-foot Foothill Green in Littleton. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller in the transaction. Craig Branton and Mickey Moran of Greystone, in partnership with Cushman & Wakefield’s Denver-based debt team, arranged acquisition financing for all three properties.

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Shops-at-Hampton-Oaks
GeorgiaInvestment salesNews

Marcus & Millichap Brokers $2.9 Million Sale of Neighborhood Center in Metro Atlanta

by Abby Cox

Fairburn, Ga. — Marcus & Millichap has brokered the $2.9 million sale of the Shops at Hampton Oaks, a 20,295-square-foot neighborhood center located in Fairburn, about 20 miles southwest of Atlanta. Zach Taylor and Eric Abbot of Marcus & Millichap’s Atlanta office represented the seller, a partnership controlled by Jacksonville-based Regency Centers, in the transaction. Built in 2008, the Shops at Hampton Oaks features eight retail suites and was 93 percent occupied at the time of sale to a mix of fitness, experiential and service-oriented tenants. Surrounded by the Hampton …

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