Investment sales

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CaliforniaDevelopmentInvestment salesNews

Burnham-Ward Properties Buys Retail Center in Tustin, California, Plans Mixed-Use Redevelopment

by Abby Cox

Tustin, Calif. — Burnham-Ward Properties has purchased Enderle Center, a retail center in the Orange County city of Tustin. The company will redevelop the center, rebrand it as Campo on 17th and introduce approximately 60,000 square feet of revitalized commercial space and 100 new for-sale townhome residences. Intracorp will handle the development. Located at East Seventeenth Street and Enderle Center Drive, Campo on 17th will keep retail as the primary use while adding landscaping, water features, fire pit areas and a town green designed for year-round community gatherings. The redevelopment will …

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Commonwealth Shopping Center
FloridaGrocery-anchoredInvestment salesNews

Saglo Cos. Sells Grocery-Anchored Retail Center in Jacksonville, Florida, for $8.1 Million

by Abby Cox

Jacksonville, Fla. — Saglo Cos. has sold Commonwealth Shopping Center, an 81,467-square-foot retail center located in Jacksonville, for $8.1 million. The transaction also features an additional six acres of vacant land. Built in 1984, the shopping center is anchored by Rowe’s IGA Supermarket. Other tenants include Dollar Tree, Hibbett Sports, Rent-A-Center and Pizza Hut. Drew Kristol and Kirk Olson of Marcus & Millichap marketed the property on behalf of the seller. Meilian Solomon of LoKation Real Estate procured the buyer, Edgewood USA LLC, in the transaction.

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Super-Star_ Express
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $3.4 Million Sale of Single-Tenant Retail Property in Inland Empire

by Abby Cox

Lake Elsinore, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.4 million sale of a single-tenant retail property located in the Inland Empire city of Lake Elsinore. Super Star Express Car Wash occupies the 4,116-square-foot building, which is situated within a Stater Bro.-anchored retail project under development. The newly built property operates on a 20-year, triple-net ground lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Evergreen Devco Inc., in the transaction. Dan Riley of CBRE …

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south-union-shopping-center
Grocery-anchoredInvestment salesNewsNorth Carolina

Morgan Co., Idlewood Capital Acquire Food Lion-Anchored Center in Concord, North Carolina, Plan Redevelopment 

by Abby Cox

Concord, N.C. — A joint venture between Idlewood Capital and Morgan Co. have acquired South Union Shopping Center, an 80,184-square-foot shopping center located in Concord, a northeast suburb of Charlotte. Food Lion anchors the center. Following the acquisition, the joint venture plans to complete a façade renovation and refresh of the property, which will include new storefronts, updated signage and new awnings and canopies. Designed by Little Diversified Architectural Consulting, renovations are expected to begin in the first quarter of 2027 and conclude in the summer. Food Lion will remain …

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Providence-Place
Investment salesNewsRhode Island

Partnership Acquires Providence Place in Rhode Island for $133 Million

by Abby Cox

Providence, R.I. — Pyramid Management Group, along with Paolino Properties and DW Partners, have acquired Providence Place, a 1.4 million-square-foot regional retail center located in Providence, for $133 million. The 13.2-acre property has been in a court-ordered receivership for multiple years following a loan default by the previous owner, Brookfield Properties. Tenants at Providence Place include Dave & Buster’s, Abercrombie & Fitch, American Eagle, Aldo, Apple, Bath & Body Works, Brooks Brothers, Champs Sports, CycleBar, DSW, Five Below and Garage.

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Wynwood Jungle
FloridaInvestment salesNews

Newmark Negotiates $25 Million Sale of 38,945-Square-Foot Retail Property in Miami

by Abby Cox

Miami — Newmark has negotiated the $25 million sale of Wynwood Jungle, a 38,945-square-foot retail property located in Miami’s Wynwood Arts District. Completed in 2016, Wynwood Jungle was repositioned in 2023 with more than $1 million in capital improvements, such as upgrades to the common areas, façade enhancements, the addition of outdoor dining spaces and rooftop restaurant activation. Tenants at the center include The Salty, Sora, Sürinitea, Häagen-Dazs and 27 Club Coffee. Eric Williams, Conor Lalor, James Sharpe V and Andrei Larion of Newmark represented the seller in the transaction.

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CaliforniaInvestment salesNews

Coastal Commercial, Marcus & Millichap Arranges $13.7 Million Sale of Multi-Tenant Retail Property in Corona del Mar, California

by Abby Cox

Corona del Mar, Calif. — Coastal Commercial and Marcus & Millichap have arranged the $13.7 million sale of 2515 E. Coast Highway, a 13,883-square-foot, multi-tenant retail property located in the Southern California community of Corona del Mar. Nathan Holthouser of Coastal Commercial and Ron Duong of Marcus & Millichap facilitated the transaction. The buyer, which was a company doing business as Shops at CDM LLC led by local broker and investor Phil Berry, paid $700,000 above the initial asking price. Poole Properties, formerly John Pool Radio Properties, owned the center …

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Investment salesNewsPennsylvaniaPower centers

CBL Properties Closes $50.6 Million Sale of York Town Center in York, Pennsylvania

by Matthew Auchincloss

York, Pa. — CBL Properties, along with its 50 percent joint venture partner, has sold York Town Center, an open-air regional retail center located in the southern Pennsylvania town of York for $50.6 million. The transaction was completed at an 8.5 percent capitalization rate. York Town Center features 14 stores, including DICK’S Sporting Goods, Boot Barn, Best Buy and ULTA, and spans more than 297,000 square feet. The buyer was not disclosed.

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FloridaInvestment salesNews

Benderson Acquires Three Properties Totaling 400,000 Square Feet in Florida 

by Matthew Auchincloss

University Park, Fla. — Benderson Development has acquired three properties totaling 400,000 square feet along the west coast of Florida. The first, Granada Plaza, is a Publix-anchored retail center located in the Tampa suburb of Dunedin at the intersection of Main Street and Keene Road. The second acquisition is Venice Market Place, a shopping center located where Tamiami Trail meets Center Road in Venice. Finally, Benderson purchased a building tenanted by Lowe’s Home Improvement Center at 10070 Estero Town Commons Place in Estero. 

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Investment salesNevadaNews

SRS Real Estate Partners Brokers Sale of 31,086-Square-Foot Retail Property in Las Vegas for $6.2 Million 

by Matthew Auchincloss

Las Vegas — SRS Real Estate Partners has brokered the sale of a 31,086-square-foot retail property located at 2420 E. Desert Inn Road in Las Vegas for $6.2 million. The building, which is situated on 2.5 acres, has been occupied by Ross Dress for Less for more than 40 years. Patrick Luther of SRS represented the West Coast private seller. The buyer was a private investor from California who paid all cash. The closing cap rate was 6.5 percent.  

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