Investment sales

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Company newsGrocery-anchoredInvestment salesNew YorkNews

PSP Investments, Nuveen Launch $790 Million Grocery-Anchored Retail Joint Venture

by Abby Cox

Montréal and New York City — The Public Sector Pension Investment Board (PSP Investments), a pension fund investor based in Montreal, and Nuveen Real Estate, one of the largest investment managers in the world, have launched a joint venture with an initial investment of $790 million to acquire open-air shopping centers across the United States. To date, PSP and Nuveen have closed on 3 million square feet across 19 assets in Arizona, California, Colorado, Florida, Minnesota, Texas, Virginia and Washington.    The investment strategy is demographically driven, focusing on open-air shopping …

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ColoradoInvestment salesNews

CentrePoint Properties Negotiates Sale of 52,743-Square-Foot Mixed-Use Property in Metro Denver

by Abby Cox

Wheat Ridge, Colo. — CentrePoint Properties has negotiated the $14.5 million sale of Wilmore Center, a 52,743-square-foot mixed-use property located in Wheat Ridge, approximately five miles west of downtown Denver. Jon Hendrickson and Aaron Johnson of Cushman & Wakefield represented the seller in the transaction. The buyer was HCA HealthONE. Situated on 5 acres at 7615 W. 38th Ave., Wilmore Center comprises two single-story multi-tenant buildings offering mixed-use space and 236 parking spaces. At the time of sale, the property was 84 percent occupied by 15 tenants. The tenant mix includes …

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421-Alakawa-St-Honolulu
HawaiiInvestment salesNews

Benderson Expands to Hawaii, Acquires 130,000-Square-Foot Retail Property in Honolulu

by Abby Cox

Honolulu — Benderson Development has entered the Hawaiian market with the purchase of a retail property, currently occupied by The Home Depot, in Honolulu. Terms of the transaction were not released. Located at 421 Alakawa St., the property consists of a 130,000-square-foot building and an adjoining two-story parking structure with more than 600 stalls. Based in Sarasota, Florida, Benderson Development is a privately held, family-owned real estate company with more than 1,000 properties totaling over 58 million square feet across 41 states.

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CaliforniaInvestment salesNews

Pacific Coast Commercial Brokers $3.5 Million Sale of Multi-Tenant Strip Center in Vista, California

by Abby Cox

Vista, Calif. — Pacific Coast Commercial has brokered the $3.5 million sale of a multi-tenant strip center located at 1717 E. Vista Way in Vista, roughly 34 miles north of San Diego. The 30,600-square-foot property is occupied by a mix of local office and retail businesses. Martin Alfaro of Pacific Coast Commercial represented the seller, LB ONE LLC, and buyer, CDH Holdings V LLC, in the deal.

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ArizonaConnecticutGeorgiaGrocery-anchoredIllinoisInvestment salesMissouriNew JerseyNewsNorth CarolinaSouth CarolinaVirginia

Pine Tree Acquires Sponsor Interest in 10-Property Retail Portfolio Valued at $644 Million

by Abby Cox

Chicago — Chicago-based Pine Tree, a national owner and operator of open-air shopping centers, has acquired a sponsor interest in a 10-property retail portfolio valued at $644 million. The interest was acquired from SITE Centers in partnership with an undisclosed, large international investor. Spanning nine states, the portfolio comprises 3.5 million square feet and features a mix of tenants such as Target, Sam’s Club, Publix, ALDI, Sprouts Farmers Market, Food Lion, The Fresh Market, Lowe’s, Dick’s Sporting Goods, Best Buy, Marshalls, HomeGoods and Ross Dress for Less, among others. The portfolio …

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Rice Lake Square
Grocery-anchoredIllinoisInvestment salesNews

Mid-America Negotiates $52.8 Million Sale of 244,924-Square-Foot Grocery-Anchored Center in Metro Chicago

by Abby Cox

Wheaton, Ill. — Mid-America Real Estate Corp. has negotiated the $52.8 million sale of Rice Lake Square, a 244,924-square-foot neighborhood center located in Wheaton, approximately 25 miles west of downtown Chicago. Pete’s Fresh Market anchors the property, which features a mix of additional tenants such as PetSmart, Massage Envy, Pure Barre, Xfinity, Potbelly, 7Brew and Taco Bell, among others. Rick Drogosz, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Core Acquisitions, in the transaction. The property was acquired by Phillips Edison Co.

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Canyon Ridge Plaza
Investment salesNewsWashington

Kimco Realty Acquires Canyon Ridge Plaza in Metro Seattle for $19 Million

by Abby Cox

Kent, Wash. — Kimco Realty has acquired Canyon Ridge Plaza, an 86,909-square-foot multi-tenant retail center in Kent, roughly 16 miles south of Seattle, for $19 million. Sean Tufts, Kevin Adatto, Joe Dugoni and Jack Hallberg of Northmarq brokered the transaction. Built at the intersection of 104th Ave. Southeast and Southeast 260th Street, Canyon Ridge Plaza is shadow-anchored by a corporate-owned Target, with a tenant roster that includes Ross Dress for Less, Old Navy, Petco, Bath & Body Works and Verizon Wireless. The property was 94 percent leased at the time of sale. …

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Strong Station
AlabamaGrocery-anchoredInvestment salesNews

Northmarq Arranges $20 Million in Refinancing for Two Grocery-Anchored Retail Centers in Alabama

by Abby Cox

Madison and Hoover, Ala. — Northmarq has arranged a $20.1 million loan to refinance two retail centers in Alabama totaling 133,939 square feet: Strong Station in Madison and The Crossings at Hoover in Hoover. Randy Wolfe and Josh Darby of Northmarq arranged the floating-rate loan through a regional bank on behalf of the borrower, Livingston Properties. The first property, Strong Station, totals 95,940 square feet and is anchored by Sprouts Farmers Market. Other tenants at the center include Hobby Lobby and Another Broken Egg Café. Built in 2015, The Crossings at Hoover was …

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Brewer Crossing
Investment salesNewsNorth Carolina

JLL Negotiates $9.6 Million Sale of Neighborhood Center in Winston-Salem, North Carolina

by Abby Cox

Winston-Salem, N.C. — JLL Capital Markets has negotiated the $9.6 million sale of Brewer Crossing, a 119,180-square-foot neighborhood center located in Winston-Salem. Tom Kolarczyk, Andrew Kahn and Ella Glover of JLL represented the seller, a partnership between the Rosen and Leverton families, in the transaction. Granite Canyon Partners was the buyer. Originally built in 1978 on a 15.34-acre site, Brewer Crossing was 98 percent leased at the time of sale. The property features a mix of tenants across the apparel, fitness, health, beauty and specialty retail sectors including Gabriel Brothers, Planet …

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GeorgiaGrocery-anchoredInvestment salesNews

Atlantic Capital Partners Negotiates $18.2 Million Sale of Grocery-Anchored Center in North Georgia

by Abby Cox

Dalton, Ga. — Atlantic Capital Partners has negotiated the $18.2 million sale of Walnut Square, a 127,391-square-foot shopping center located in Dalton, a city in north Georgia near the Tennessee border. Food City anchors the property, which was 99 percent leased at the time of sale. Additional tenants include Ross Dress for Less, Ulta Beauty, PetSmart, Bath & Body Works, AT&T, Kay Jewelers and Crumbl Cookies. Fred Victor, Sam Koonce, Teddy Driscoll and Matt Austin of Atlantic Capital represented the seller, an affiliate of Net Lease Alliance, in the transaction. The …

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