Fort Collins, Colo. — Cushman & Wakefield has arranged the $14 million sale of Harmony Commons, a 25,701-square-foot shopping center located in Fort Collins. Built in 2017, the property comprises two multi-tenant buildings and was 87 percent leased to eight tenants at the time of sale. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller, Urban Village, in the transaction. Joshua Guernsey of Waypoint Real Estate represented the undisclosed buyer.
Poughkeepsie, N.Y. — CBRE has arranged the $34 million sale of Hudson Heritage, a retail center located in Poughkeepsie. ShopRite anchors the property, which totals 120,499 square feet. Other tenants at the center, which was 92 percent leased at the time of sale, include CVS/pharmacy, Starbucks Coffee, Chipotle Mexican Grill, AT&T, Jersey Mike’s Subs, Burger King and PulseMD. An entity doing business as EFG/Saber Heritage SC LLC sold the property to East Coast Acquisitions. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller in the transaction.
San Diego — BH Properties has acquired Hazard Center, a 405,250-square-foot mixed-use property located in San Diego. Situated on 14.5 acres, the development features 135,000 square feet of retail space, as well as a 270,000-square-foot office tower. Retail tenants at the property include Barnes & Noble, Orange Theory Fitness, BJ’s Brewhouse, Wood Ranch BBQ & Grill, Which Which Superior Sandwiches and FedEx. Adam Edwards, Justin Shepherd, Michael Kathrein and Bailey Bland of Eastdil Secured marketed the property and acted as advisor to the undisclosed seller.
Fair Lawn, N.J. —TFE Properties has acquired River Road Shopping Center, a 93,000-square-foot retail center located in Fair Lawn. Situated on 6.3 acres, the property comprises an 18,825-square-foot single-tenant building occupied by Walgreens, an 18,900-square-foot multi-tenant building and a 54,000-square-foot building that was formerly occupied by grocer ShopRite. The new ownership plans to implement a value-add program at the center. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Ryan Robertson of JLL represented the seller, Bon-Marc Realty Co., in the transaction. TFE Properties was the buyer.
Whitewater, Wis. — Marcus & Millichap has brokered the $3.6 million sale of Whitewater Plaza, a 24,211-square-foot shopping center in Whitewater, roughly 50 miles southwest of Milwaukee. Tenants at the property, which was 94 percent occupied at the time of sale, include Jimmy Johns, Anytime Fitness, Cozumel Mexican Restaurant and Beijing Buffet. Dominic Sulo and Sam Malato of Marcus & Millichap represented the undisclosed seller in the transaction. Todd Lindblom assisted in closing the transaction as the firm’s broker of record in the state.
Kingston, N.Y. — CBRE has brokered the $36.5 million sale of two properties situated within Hudson Valley Plaza, a shopping center located in Kingston. Lowe’s and Sam’s Club occupy the buildings. Both tenants have occupied space at the shopping center since 1996. Walmart and PetSmart anchor Hudson Valley Plaza, which totals 673,000 square feet. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, an entity doing business as United Hampshire US REIT, in the transaction.
Whiteville, N.C. — Legacy Realty Group Advisors has arranged the $5.5 million sale of Northfield Center, a retail center located in Whiteville. Food Lion anchors the property, which comprises 41,400 square feet. Jacob Baruch and Jonah Warshaw of Legacy Realty Group Advisors represented the undisclosed buyer in the transaction.
Lansing, Ill. — The Boulder Group has arranged the $2.3 million sale of a single-tenant property located in Lansing, a southern suburb of Chicago. Chipotle Mexican Grill occupies the newly constructed building on a 15-year lease that features 10 percent rental escalations every five years and four five-year renewal options. Randy Blankstein and Jimmy Goodman of Boulder represented the 1031 exchange buyer and the seller, a Midwest-based developer, in the transaction.
Tucson, Ariz. — First Washington Realty has sold Casas Adobes Plaza, a shopping center located in Tucson, for $51 million. Originally built in 1953 and remodeled in 2014, the property totals 92,300 square feet situated on 9.5 acres. Tenants at the property, which was 97 percent occupied at the time of sale, include Whole Foods Market, Starbucks Coffee, Pure Barre, Orangetheory Fitness and Chico’s. Patrick Dempsey and Geoff Tranchina of JLL Capital Markets arranged the transaction. Greg Brown and Jason Carlos of JLL secured acquisition financing through a correspondent life insurance …
Manteca, Calif. — Grupe Huber has acquired The Promenade Shops at Orchard Valley, a 400,000-square-foot retail center located in Manteca. Bass Pro Shop, AMC Theatres, JC Penney and Valley Fitness anchor the property, which is situated on 54 acres. Sutter Health recently signed a 17,500-square-foot lease at the center and is currently underway on construction of its space, which is scheduled to open in early 2025. The buyer plans to implement a “revitalization” process at the property, which was originally built in 2008. JLL manages and leases the center.
