Investment sales

Shops at Edgwater
CaliforniaInvestment salesNews

JLL Negotiates $9.5 Million Sale of Shops at Edgewater in Sand City, California

by Abby Cox

Sand City, Calif. — JLL Capital Markets has negotiated the $9.5 million sale of the Shops at Edgewater, a 25,223-square-foot retail center located at 2080 California Ave. in Sand City.  The fully leased property is occupied by Ulta Beauty, Panera Bread, Mancini’s Sleepworld and a Bank of America ATM. The Shops at Edgewater is also shadow anchored by Target, Ross Dress for Less and Lucky. Eric Kathrein, Andrew Spangenberg and Allie Repaskey of JLL represented the private seller in the transaction. An entity doing business as Sand City Holdings LLC was …

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Eos-Fort-Myers
FloridaInvestment salesNews

SRS Real Estate Arranges $14.3 Million Sale of Single-Tenant Retail Property in Fort Myers, Florida

by Abby Cox

Fort Myers, Fla. —SRSReal Estate Partners has arranged the $14.3 million sale of a single-tenant retail property located at 10560 Colonial Blvd. in Fort Myers. Eōs Fitness occupies the 42,500-square-foot building on a 20-year absolute triple-net, corporate-guaranteed lease. Patrick Nutt and William Wamble of SRS Real Estate represented the seller, a Florida-based developer, in the transaction. The buyer was a Florida-based investor completing a 1031 exchange.

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ArizonaInvestment salesNews

CNSREIT Acquires 303,000-Square-Foot Center in Phoenix

by Abby Cox

Phoenix — Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Grand Canyon Crossing, a 303,000-square-foot shopping center located in Phoenix. Walmart Supercenter anchors the property, which was 99 percent leased at the time of sale. Additional tenants include Harbor Freight Tools, Wendy’s, YouFit Health Club, Sally Beauty Supply, Nationwide Vision Center, Denny’s, Starbucks Coffee, Sonic, Jamba and Quick Quack Car Wash. The retail center was built on 33 acres in 2005. CNSREIT acquired Grand Canyon Crossing through a programmatic joint venture with the Sterling Organization. Further details of the transaction …

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High Point Centre
IllinoisInvestment salesNews

Mid-America Arranges Sale of 240,345-Square-Foot Neighborhood Center in Metro Chicago

by Abby Cox

Lombard, Ill. — Mid-America Real Estate has arranged the sale of High Point Centre, a 240,345-square-foot neighborhood center located in Lombard, roughly 22 miles west of downtown Chicago. The property was 68 percent leased at the time of sale to tenants including LA Fitness, Altitude Trampoline Park, Ace Dental, Burger King, Mango Mango Desserts, Sports Clips, Seoul Bites Korean BBQ, Souq Fresh Market and Tropical Smoothie Café. High Pointe Centre was built in 1992. Ben Wineman of Mid-America represented the seller, a publicly traded REIT, in the transaction. The property was …

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Marigold Shopping Center
CaliforniaGrocery-anchoredInvestment salesNews

Nuveen Real Estate Acquires Marigold Center in San Luis Obispo, California, for $58.3 Million

by Abby Cox

San Luis Obispo, Calif. — Nuveen Real Estate has acquired Marigold Center, a 174,428-square-foot shopping center located at 3900 Broad St. in San Luis Obispo, for $58.3 million. Gleb Lvovich, Geoff Tranchina, Daniel Tyner and Eric Kathrein of JLL represented the seller, First Washington Realty, in the transaction. Vons anchors Marigold Center, which was 91.5 percent leased at the time of sale. Additional tenants at the property include CVS Pharmacy and Planet Fitness, as well as a mix of sporting goods, restaurant, medical and service-oriented tenants. The center sits on …

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19390-Bear-Valley-Rd-Apple-Valley-CA
CaliforniaInvestment salesNews

Hanley Investment Group Brokers Sale of 87,042-Square-Foot Shopping Center in Apple Valley, California

by Abby Cox

Apple Valley, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Apple Valley Towne Center, an 87,042-square-foot regional shopping center located in San Bernardino County. Kevin Fryman, Bill Asher and Sean Cox of Hanley Investment Group represented the seller and developer, San Pedro, California-based Rich Development Enterprises, in the transaction. The buyer and sales price were not disclosed. Completed earlier this year on a 7.9-acre site at 19390 Bear Valley Road, Apple Valley Towne Center was fully leased at the time of sale to three national junior …

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Pavilions Marketplace
CaliforniaGrocery-anchoredInvestment salesNews

Sterling Organization Purchases Grocery-Anchored Center in West Hollywood, California

by Abby Cox

West Hollywood, Calif. — Sterling Organization has purchased Pavilions Marketplace, a 69,622-square-foot retail center located in West Hollywood. The acquisition was made on behalf of Sterling’s institutional value-add fund, Sterling Value Add Partners IV, marking the fund’s 11th investment. Pavilions, an upscale supermarket owned by Albertsons Cos., anchors the center, which was 89 percent leased at the time of sale. Other tenants at the property include Chase Bank, Insomnia Cookies and Nothing Bundt Cakes.

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1045-1099-E-Main-St-El-Cajon-CA
CaliforniaGrocery-anchoredInvestment salesNews

DPI Retail Sells Main Street Marketplace in El Cajon, California, for $17.5 Million

by Abby Cox

El Cajon, Calif. — DPI Retail has sold Main Street Marketplace, a grocery-anchored shopping center in El Cajon, located in San Diego County, for $17.5 million. The buyer, an entity doing business as First Corner LLC, is the owner of Manolo Farmers Market, which has anchored the property since 1988. Enrique Wong of Marcus & Millichap, along with Tom Lagos, Patrick Toomey and Jose Carrazana of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the deal. Built in 1979 at 1045-1099 E. Main St., Main …

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Liberty-Corners
Grocery-anchoredInvestment salesMissouriNews

Newmark Brokers $20 Million Sale of Grocery-Anchored Retail Center in Metro Kansas City, Missouri

by Abby Cox

Liberty, Mo. — Newmark has brokered the $20 million sale of Liberty Corners, a 125,000-square-foot shopping center located in the Kansas City suburb of Liberty. The property is anchored by a 56,000-square-foot Price Choppers, which has been a tenant at the property since 1986. Price Chopper is extending its lease through 2037 and will be investing approximately $6.5 million to remodel its store. Additional tenants include Dollar Tree and Chipotle Mexican Grill. Conor Lalor, Keely Polczynski, Tim McKay, Brian Schneiderman and Tim McKay of Newmark represented the seller, Brixmor Property Group, …

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baggage-building
FinanceInvestment salesNewsTennessee

BWE Arranges $42.5 Million Loan to Refinance Historic Baggage Building in Nashville, Tennessee

by Abby Cox

Nashville, Tenn. — BWE has arranged a $42.5 million loan to refinance the historic Baggage Building, a 61,000-square-foot office and retail property located at 111 10th Ave. S. near Nashville’s Gulch district. Nick Harb of BWE secured the financing through a regional bank on behalf of the borrower, DZL Properties. The loan features a “meaningful” interest-only payment period. The Baggage Building was originally built between 1898 and 1900 as part of the Louisville-Nashville Railroad/Union Station terminal complex used to handle luggage and freight. Renovated in 1999, tenants at the four-story …

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