Rancho Cucamonga, Calif. — Progressive Real Estate Partners has brokered the $4.9 million sale of a 16,560-square-foot single-tenant property located in Rancho Cucamonga. Dollar Tree occupies the building on a triple-net-lease basis. Brad Umansky, Greg Bedell and Lance Mordachini of Progressive arranged the sale on behalf of the seller, Red Mountain Group. Katherine Quach and Wendy Wong of Treelane Realty Group represented the buyer, a private investor.
Mesa, Ariz. — A joint venture managed by Crow Holdings Capital has purchased The Shops at Sossaman, a 34,151-square-foot retail center located in Mesa. Abington Emerson Investments sold the property for $8.1 million. Tenants at the center, which was built in 2002, include Banner Health Physical Therapy, East Valley Pet Urgent Care, Empower Academy and Crave Pizza. The property was fully leased at the time of sale. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the buyer and seller in the transaction.
Delray Beach, Fla. —Benderson Development has acquired Linton Commons, an 85,000-square-foot retail center located in Delray Beach. Tenants at the property include RH Outlet, Guitar Center, PetSmart, Chipotle Mexican Grill and AT&T. Benderson’s portfolio in the state also includes a freestanding Publix Super Market in Pompano Beach, which was acquired in August, and a Publix-anchored shopping center in Englewood.
Henderson, Nev. — CTO Realty Growth has sold Eastern Commons, a 129,600-square-foot shopping center located in Henderson, roughly 15 miles outside Las Vegas. An undisclosed buyer acquired the property for $18.2 million. The seller plans to utilize proceeds from the sale in a 1031-exchange transaction.
Scottsville, Ky. — Legacy Realty Group Advisors has brokered the sale of Scottsville Shopping Center, a 31,800-square-foot retail center located in Scottsville. Food Lion anchors the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction.
Moon Bay, Calif. — Matthews Real Estate Investment Services has arranged the sale of Strawflower Village Shopping Center, a 78,940-square-foot retail center located in Moon Bay, approximately 30 miles south of San Francisco. A 33,000-square-foot Safeway anchors the center, which was 96 percent leased at the time of sale. Other tenants include T-Mobile, Chase Bank and US Bank. SJ Amoroso Properties Co. acquired the property from HMB Musich LLC for $34 million. Marko Buljan of Matthews represented the seller in the transaction. Tim Gilmartin of The Gilmartin Group represented the buyer.
Crescent City, Fla. — CrossMarc Services LLC has purchased Crescent City Plaza, a 47,945-square-foot shopping center located in Crescent City, for $2.7 million. Built in 1974 and remodeled in 2019, the property is leased to tenants including Save-A-Lot and Family Dollar. Situated on 7.6 acres, the center also features a parcel for future outparcel development. Jimmy and Leo Island Properties was the seller. CrossMarc Services will handle leasing and management at the property.
Lafayette, La. — SRS Real Estate Partners has arranged the sale of Karam Shopping Center, a 100,120-square-foot retail center located in Lafayette. Tenants at the property include Super 1 Foods, which is currently undergoing a $7 million renovation, and dd’s DISCOUNTS. Mishra Group acquired the center from TCP Realty Services for an undisclosed price. Kyle Stonis and Pierce Mayson of SRS represented the seller, with Jonathan Walker of Maestri-Murrell Inc.
Elmsford, N.Y. — A joint venture between New York-based DLC Management Corp. and funds managed by DRA Advisors has acquired a portfolio of retail centers for $100 million. The portfolio comprises four properties located in Colorado, New Jersey, Arizona and Ohio. Located in Aurora, Colorado, Cornerstar totals 380,479 square feet and is anchored by Target, Marshalls, HomeGoods, 24 Hour Fitness, Nike and Ulta Beauty. Cross Keys Place in Sewell, New Jersey, comprises 147,694 square feet and is anchored by Michaels, Old Navy, Petco and Edge Fitness. The Shops at Prescott Gateway …
Mount Pleasant, S.C. — Ziff Real Estate Partners (ZRP) has acquired Wando Crossing, a retail center located in Mount Pleasant, for $46.8 million. Marshalls/HomeGoods, TJMaxx, Total Wine & More, Petco, Ashley HomeStore, Michaels and Five Below anchor the property, which totals 214,029 square feet. Site Centers Corp. was the seller.