Investment sales

Arena-Shops
FloridaInvestment salesNews

JLL Arranges $32.5 Million Sale of Arena Shops in North Miami, Florida

by Abby Cox

North Miami, Fla. — JLL Capital Markets has arranged the $32.5 million sale of Arena Shops, a 37,135-square-foot retail center located in North Miami. The fully leased property is anchored by Total Wine & More and features a mix of additional tenants such as Chipotle Mexican Grill, T-Mobile and Tatore Miami. Arena Shops is situated adjacent to the $4 billion SoLē Mia mixed-use development. Danny Finkle, Jorge Portela and Jacob Wise of JLL represented the seller, Edens Investment Trust, in the transaction. RK Centers, led by Miami Heat co-owner Raana Katz, …

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1325 W. 49th St-Hialeah
FloridaInvestment salesNews

Marcus & Millichap Brokers $6.3 Million Sale of Retail Property in South Florida

by Abby Cox

Hialeah, Fla. — Marcus & Millichap has brokered the $6.3 million sale of 1325 West 49th St., a 13,026-square-foot retail property located in the Miami suburb of Hialeah. Built in 1968, the property includes three retail suites and is fully leased to FirstBank Florida, Papa John’s Pizza and Stanton Optical. Jonathan De La Rosa and Eddie Toledo of Marcus & Millichap listed the property on behalf of the seller and procured the buyer in the transaction.

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JLL - West Coast Retail Portfolio
CaliforniaColoradoGrocery-anchoredInvestment salesNewsWashington

Nuveen Real Estate Acquires 1.9 Million-Square-Foot Retail Portfolio Spanning Three States for $445 Million

by Abby Cox

Orange County, Calif. — Nuveen Real Estate has acquired a 13-property, open-air retail portfolio spanning three states for $445.5 million. The 1.9 million-square-foot portfolio consists of six properties in California, four in Colorado and three in Washington. This acquisition represents one of the largest anchored retail portfolio transactions completed in the western United States in recent years, according to JLL. Collectively, the assets were 93.5 percent leased at the time of sale and are grocery-anchored by tenants such as Safeway, Walmart Neighborhood Market, Sprouts Farmers Market, FoodMaxx and Grocery Outlet. Additional …

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Promenade at Casa Grande
ArizonaInvestment salesNews

PREP Property Group Acquires 480,000-Square-Foot Casa Grande Power Center in Metro Phoenix for $63.1 Million

by Abby Cox

Casa Grande, Ariz. — PREP Property Group has acquired Promenade at Casa Grande, a 480,000-square-foot regional power center located in Casa Grande, roughly 45 miles south of Phoenix, for $63.1 million. Tenants at the center include Harkins Theatres, Ross Dress for Less, Marshalls, HomeGoods, Burlington, Michaels, Ashley Furniture, PetSmart, Five Below, Bath & Body Works, Shoe Dept., Encore, Ulta Beauty and Dollar Tree. Three anchors — Dillard’s, JCPenney and Target — were not included in the sale. Colliers represented the seller, Lamar Cos., in the transaction.

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Quebec Village
ColoradoInvestment salesNews

Continental Realty Acquires Quebec Village Shopping Center in Metro Denver for $31 Million

by Abby Cox

Centennial, Colo. — Baltimore-based Continental Realty Corp. (CRC) has acquired Quebec Village Shopping Center, a 125,000-square-foot retail center located in Centennial, approximately 15 miles south of Denver, for $31 million. Brad Lyons of CBRE represented the seller, Kensington Development Partners, in the transaction. Built in 1988, Quebec Village Shopping Center features a mix of tenants including Walgreens, Chase Bank, GNC, Great Clips, Golf Haus, Starbucks Coffee and Subway, as well as a 43,000-square-foot shuttered Amazon Grocery anchor space. The acquisition of Quebec Village marks CRC’s second retail center in the greater …

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Staples Plaza
ConnecticutInvestment salesNews

New England Retail Properties Negotiates $7.2 Million Sale of Staples Plaza in Wallingford, Connecticut

by Abby Cox

Wallingford, Conn. — New England Retail Properties has negotiated the $7.2 million sale of Staples Plaza, a 100,000-square-foot shopping center located in Wallingford, roughly midway between Hartford and New Haven. Tenants at the property, which have been open at the center for more than 18 years, include Staples, Goodwill, Dollar Tree, All Pets Club and Napoli Pizza. Matt Halprin of New England Retail Properties represented both the buyer, Wallingford Plaza Realty LLC, a New York-based investor, and the seller, CT Properties, in the transaction.

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Riggs-Marketplace-Chandler-AZ
ArizonaFinanceGrocery-anchoredInvestment salesNews

A&C Properties Sells Grocery-Anchored Retail Portfolio in Arizona for $108.7 Million

by Abby Cox

Chandler, Cave Creek, Gilbert, Mesa and Tucson, Ariz. — A&C Properties Inc. has completed the sale of a grocery-anchored retail portfolio in Phoenix and Tucson, to 11North Partners for $108.7 million. Totaling 422,949 square feet, the seven-property portfolio is currently 96 percent occupied with Fry’s Food & Drug as anchor tenant. The portfolio includes Gilbert Fiesta Marketplace, Shops at Gilbert Fiesta and Township Plaza in Gilbert; Riggs Marketplace in Chandler; Lindsay Marketplace in Mesa; Tatum Plaza in Cave Creek and Randolph Plaza in Tucson. Patrick Dempsey, Tess Berghoff and Ross Jorgensen …

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Village Shopping Center
Investment salesIowaNewsOhio

United Properties Acquires Two Retail Centers in Iowa, Ohio for $34.4 Million

by Abby Cox

Davenport, Iowa and Mansfield, Ohio — East Meadow, New York-based United Properties Corp. has acquired two retail centers in Iowa and Ohio for a total price of $34.4 million. The company now owns more than 10 million square feet of retail. Village Shopping Center in Davenport totals 233,100 square feet. The sales price was $23.9 million. Anchored by Ross Dress for Less, Ollie’s Bargain Outlet, Five Below and Pet Supplies Plus, the property is 91 percent occupied. Appleseed Center in Mansfield totals 147,254 square feet. The purchase price was $10.5 …

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Mizner-Park
FloridaInvestment salesMixed-useNews

Joint Venture Acquires 838,840-Square-Foot Mizner Park in Boca Raton, Plans Multimillion-Dollar Renovation

by Abby Cox

Boca Raton, Fla. — A joint venture between CP Group, The Georgetown Co., private equity firm ACRE and investment firm StepStone Group has acquired Mizner Park, an 838,840-square-foot, open-air mixed-use development located in downtown Boca Raton. The new ownership group is planning to implement a multimillion-dollar renovation for the 35-year-old complex. JLL represented the seller, Brookfield Properties, and secured financing through Blackstone for the transaction. Brookfield, which acquired Mizner Park via the company’s acquisition of General Growth Properties (GGP) in 2018. The sales price was not disclosed, but the property …

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Paddock-Shops_Louisville
Grocery-anchoredInvestment salesKentuckyNews

Kimco Realty Acquires Two Grocery-Anchored Shopping Centers in Louisville for $295 Million

by Abby Cox

Louisville, Ky. — Kimco Realty has purchased two grocery-anchored shopping centers in Louisville’s East End neighborhood for a combined $295 million. The New York-based owner-operator acquired the properties, the 351,000-square-foot Paddock Shops and the 390,000-square-foot Shelbyville Road Plaza, using 1031 exchange proceeds from dispositions made earlier in the year. The sellers were not released, but Louisville Business First reported that Hagan Properties was the previous owner of Shelbyville Road Plaza and a joint venture between CBRE Strategic Partners U.S. Value 9 and Fairbourne Properties purchased Paddock Shops in 2023. Paddock …

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