Investment sales

Sundance Towne Center

Buckeye, Ariz. — Baltimore-based Continental Realty Corp. (CRC) has purchased Sundance Towne Center, a 203,525-square-foot regional power center located 30 miles west of Phoenix, for $54.3 million. Walmart and Lowe’s Home Improvement shadow anchor the center, which was originally developed in 2007 on a 32-acre site. The property was 94 percent leased to tenants including AutoZone, BMO Bank, Cracker Barrel, Dollar Tree, Dunn-Edwards Paints, Mattress Firm and Peter Piper Pizza at the time of sale. CRC also plans to invest in capital improvements to enhance tenancy and customer experience. Michael …

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Siete Square

Phoenix — Rein & Grossoehme Commercial Real Estate has arranged the $5 million sale of Siete Square, a 35,926-square-foot shopping center located at 4139 W. Bell Road in Phoenix. Originally built in 1985, the property was 87 percent leased to tenants including Mattress Max and Georges Baddawi at the time of sale. The center also features a freestanding pad site occupied by Jack in the Box, which was not included in the sale. Mark Rein of Rein & Grossoehme represented the seller, Butterfield Trail LLC, and the buyer, Bell Square …

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Rivergate Shopping Center

Shelbyville, Ind. — North Carolina-based Prudent Growth Partners has acquired Rivergate Shopping Center, a 45,314-square-foot shopping center located in the Indianapolis suburb of Shelbyville for $4.4 million. Farm equipment supplier Rural King shadow anchors the property, which was built in 1985 and renovated in 1995. Rivergate Shopping Center was 93 percent leased to a mix of retail, fitness, financial and medical service-based tenants at the time of sale.

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5000 South Hulen

Fort Worth, Texas — Whitestone REIT has acquired 5000 South Hulen, an 86,907-square foot shopping center in Fort Worth. Located adjacent to Hulen Mall, Old Navy and Barnes & Noble anchor the property. Additional tenants include Sephora, Old Navy, Potbelly Sandwich Works, Sports Clips, Kincaid’s Hamburgers and Jamba Juice. Trademark Real Estate and ALTO Real Estate were the sellers.  The acquisition of 5000 South Hulen marks Whitestone’s 29th property in Texas and 10th in the Dallas-Fort Worth metroplex.

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Pinecrest Square

Fort Lauderdale, Fla. — Native Realty has brokered the $10.3 million sale of Pinecrest Square, a 40,409-square-foot shopping center located in the Fort Lauderdale neighborhood of Cypress Creek. Tenants at the property include ChenMed, 7-Eleven, Jiffy Lube, Cheers Food and Spirits and Veterinary Emergency Group. Available spaces at the center range from 1,200 square feet to 4,000 square feet, with an available 1,000-square-foot medical office space. Jaime Sturgis of Native Realty represented the buyer, an entity doing business as 903 Cypress Creek LLC, in the transaction. An entity operating as …

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323 Marine Ave.

Newport Beach, Calif. — Cushman & Wakefield has arranged the $2.2 million sale of a 1,300-square-foot freestanding retail building in Newport Beach. Situated within the Balboa Island shopping district at 323 Marine Ave., home goods retailer Blu Canoe occupies the site, which was originally built in 1930. Joseph Lising and Nathan Demosthenes of Cushman & Wakefield’s Capital Markets & Retail Services team represented the seller, a Newport Beach-based family office that previously owned the property for more than 30 years. A Newport Beach-based investor was the buyer.

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Habersham Crossing

Cornelia, Ga. — Colliers has negotiated the $10.6 million sale of Habersham Crossing, a 149,397-square-foot shopping center located in Cornelia. Goodwill, Tractor Supply Co., Ross Dress For Less and Dollar Tree anchor the center, which was fully leased at the time of sale. Additional tenants include Bath & Body Works, Palm Beach Tan, TB Nails & Spa and Habersham Package. Scott Israel and Joe Montgomery of Colliers represented the seller, an entity doing business as Habersham ZMCS LLC, in the transaction.

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Westgate Shopping Center

Enterprise, Ala. — Legacy Realty Group has negotiated the sale of Westgate Shopping Center, a 132,737-square-foot shopping center located in Enterprise, roughly 30 miles east of Dothan. Piggly Wiggly anchors the center, which features a mix of additional tenants including Petsense, H&R Block, Rituals Salon & Day Spa, Rent-A-Center, Metro by T- Mobile, Beef ‘O’ Brady’s and Yancey Parker’s. Built in 1966, the property is situated on 6.4 acres, according to LoopNet. Jacob Baruch, Daniel Baruch and Ari Warshaw of Legacy Realty Group Advisors represented the buyer in the transaction. …

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2727-Via-Cascadita

San Clemente, Calif. — Marcus & Millichap has brokered the $8.9 million sale of 2727 Via Cascadita, a 24,933-square-foot retail center located in San Clemente. The California Department of Motor Vehicles anchors the property, occupying more than 32 percent of the center. An adjacent undeveloped portion of the parcel is also available for up to 10,000 square feet of future construction. Situated near the Outlets at San Clemente, the center sits on 2.8 acres. Tony Azzi and Rabbie Banafsheha of The Azzi Group, a division of Marcus & Millichap, represented …

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Downtown Santa Monica

Santa Monica, Calif. — A joint venture between Tova Capital and Shopton Capital has acquired a 7,500-square-foot freestanding retail building in downtown Santa Monica for $5.5 million. Situated at the intersection of Wilshire and Lincoln Boulevards, the single-story building sits on a 15,000-square-foot corner lot. The joint venture plans to renovate the property — which was originally developed in 1981 — with a new storefront, exterior enhancements, lighting upgrades and refreshed paint. The property was 40 percent leased to Commercial Bank of California at the time of sale. Luc Hawkshaw, …

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