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Investment sales

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FloridaInvestment salesNews

JLL Arranges Sale of 454,872-Square-Foot Mixed-Use Property in Florida

by Hayden Spiess

Lakeland, Fla. — JLL has arranged the sale of Lakeside Village, a mixed-use retail center located in Lakeland. The development comprises a total 541,465 square feet, 454,872 of which were included in the sale. Tenants at the property, which was developed in 2005, include CMX Cinemas, Belk, Books-A-Million, Kohl’s, Starbucks Coffee, Chili’s, Olive Garden, Longhorn Steakhouse and Famous Footwear. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented the undisclosed seller in the transaction. Continental Realty Corp. acquired the property for an undisclosed price. 

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Investment salesMinnesotaNews

Timber Development Sells 40,700-Square-Foot Retail Center in Minnesota

by Hayden Spiess

New Ulm, Minn. — Timber Development Corp. has sold Super Center Square, a retail center located in New Ulm. The property comprises 40,700 square feet adjacent to a 210,000-square-foot Walmart Supercenter. An undisclosed buyer acquired the property for $4.1 million. AJ Prins and Sean Doyle of CBRE brokered the transaction. 

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Walmart Supercenter
Investment salesNet leaseNew JerseyNews

Pegasus Arranges $55 Million Acquisition of Single-Tenant Property in New Jersey

by Hayden Spiess

Linden, N.J. — Pegasus Investments Real Estate Advisory Inc. and Pegasus Capital Markets Inc. have arranged the $55 million acquisition of a 186,000-square-foot single-tenant retail property located in Linden. Walmart Supercenter fully occupies the property, which is situated on 14 acres, with a 20-year triple net lease. Pegasus represented the buyer, a partnership of investors, in the transaction and secured acquisition financing. Mark Keener and Adam Block of Gallagher Evelius & Jones LLP served as counsel for the buyer. SRS National Net Lease Group represented the seller, a joint venture between …

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CaliforniaInvestment salesNews

Hanley Brokers Sale of Two Single-Tenant Properties Totaling $5.8 Million in Southern California

by Hayden Spiess

Imperial, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of two single-tenant retail properties located in Imperial for a total $5.8 million. Starbucks Coffee Drive-Thru occupies the first building, which comprises 2,089 square feet, on a 10-year lease. A private investor purchased the property for $2.9 million. The United States Postal Service leases the second building, which totals 5,430 square feet. An Indiana-based private partnership acquired the property for $2.9 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, 5th Street Development LLC, …

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Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 26,148-Square-Foot Shopping Center in Fort Worth, Texas

by Hayden Spiess

Fort Worth, Texas — Marcus & Millichap has brokered the sale of Sycamore Village Shopping Center, a 26,148-square-foot retail center in Fort Worth. The property is situated on 2.6 acres on the city’s southwest side. Tenants at the property include Cricket Wireless, H&R Block and The UPS Store. Joe Santelli of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was not disclosed.

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IllinoisInvestment salesNews

Quantum Arranges Sale of 9,589-Square-Foot Retail Center in Evanston, Illinois

by Hayden Spiess

Evanston, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of Church Street Plaza, a 9,589-square-foot retail center located in Evanston. Tenants at the property include Semper Laser, Pure Barre, Noodles & Co., CycleBar and Big Wig Tacos. Dan Waszak and Zack Hilgendorf of Quantum represented the seller, GW Properties. T SW Neighborhood Centers II, an affiliate of Shannon Waltchack, acquired the property for an undisclosed price. 

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Grocery-anchoredIndianaInvestment salesNews

Northmarq Arranges Acquisition of 132,156-Square-Foot Retail Center in Indianapolis

by Hayden Spiess

Indianapolis — Northmarq has arranged the acquisition of Clearwater Springs Shopping Center, a 132,156-square-foot retail center located in Indianapolis. ALDI, Haverty’s Furniture and Michaels anchor the property, which is situated on 34.5 acres. Other tenants at the center include Starbucks Coffee, Athletico, David’s Bridal and AT&T. Blaise Bennett of Northmarq represented the Ohio-based buyer in the transaction. Wes Podell of Podell Partners represented the undisclosed seller. 

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Investment salesNewsTexas

STRIVE Arranges Sale of 29,962-Square-Foot Retail Center in Metro Dallas

by Hayden Spiess

Irving, Texas — STRIVE has arranged the sale of Irvingate Center, a 29,962-square-foot retail center located in Irving, roughly 14 miles outside Dallas. The property was 86 percent leased at the time of sale. Hudson Lambert and Jason Vitorino of STRIVE represented the Dallas-based seller and procured the buyer, a California-based investor, in the transaction.

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IllinoisInvestment salesNews

Marcus & Millichap Brokers $5.2 Million Sale of Retail Center in Chicago

by Hayden Spiess

Chicago — Marcus & Millichap has brokered the $5.2 million sale of Kedzie Plaza, a retail center totaling 73,876 square feet in Chicago. Tenants at the property include Dunkin’ Donuts, Metro by T-Mobile, Subway, Domino’s and Sally Beauty. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the buyer, a local private investor. 

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Investment salesNewsNorth Carolina

Marcus & Millichap Arranges Sale of 210,482-Square-Foot Retail Center in Rocky Mount, North Carolina

by Hayden Spiess

Rocky Mount, N.C. — Marcus & Millichap has arranged $11.8 million sale of Sutter’s Creek Plaza, a 210,482-square-foot retail center located in Rocky Mount. Tenants at the property include Big Lots, Tractor Supply Co., Jo-Ann Fabrics and Harbor Freight Tools. French Traver and Kodi Traver of Marcus & Millichap represented the seller, a Florida-based private investor, in the transaction. Ben Yelm assisted in closing the sale as the North Carolina broker of record. A New York-based private investor acquired the center. 

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