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Investment sales

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GeorgiaGrocery-anchoredInvestment salesNews

Octave Purchases 301,711-Square-Foot Shopping Center in Atlanta Suburb

by Hayden Spiess

Cumming, Ga. — Octave Holdings and Investments has purchased Lakeland Plaza, a 301,711-square-foot shopping center in Cumming, a northern suburb of Atlanta, for an undisclosed price. Built in 1990 and renovated in 2015, Lakeland Plaza was 94 percent leased at the time of sale to tenants including Sprouts Farmers Market, Belk, Bealls Outlet, LA Fitness, Joann Fabric and Crafts and Shoe Gallery. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the undisclosed sellers in the transaction.

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CaliforniaInvestment salesNews

Hanley Brokers $36.5 Million Sale of Bristol Place in Southern California

by Hayden Spiess

Santa Ana, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $36.5 million sale of Bristol Place, a 61,454-square-foot retail center located in Santa Ana. Built in 1968, the property was renovated in 2019 and was 89 percent occupied at the time of sale. Matt Burnett, Kevin Fryman and Ed Hanley of Hanley represented the seller, a joint venture between an affiliate of Cadence Capital Investments and Oakwood Real Estate Partners. Ron Duong of Marcus & Millichap represented the buyer, a California-based private investor. 

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FinanceInvestment salesLearn from Industry LeadersRetail InsightRetailersVideos

WHLR: Investing Well in the Face of High Inflation and Interest Rates

by Sarah Daniels

  Thinking ahead, WHLR proactively managed its exposure to volatile capital markets and an inflationary environment. In 2021, the company refinanced all its loans that were set to mature within seven years, garnering the REIT low cost, fixed-rate debt set for the next 10 years. In addition, WHLR’s focus on the service, convenience and necessity retail tenant categories in secondary and tertiary markets has helped shield the company from the impacts of inflation risk, explains Andy Franklin, CEO of WHLR. The company’s 2022 merger with Cedar Realty Trust also helped …

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DevelopmentInvestment salesNewsOklahoma

Colliers Arranges Sale of 161,190-Square-Foot Former Sears Property in Oklahoma City

by Hayden Spiess

Oklahoma City — Colliers has arranged the sale of a 161,190-square-foot former Sears property located in Oklahoma City. Michael Brewster and Drew Quinn of Colliers represented the undisclosed seller. Brad Peterson, El Warner and Charley Simpson of Colliers were also involved in the transaction. LSC Development acquired the property at auction for an undisclosed price, with plans for an adaptive reuse project including retail outlots and a self-storage facility. 

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Investment salesNew JerseyNews

Marcus & Millichap Arranges Sale of 21,080-Square-Foot Retail Property in North Brunswick, New Jersey

by Hayden Spiess

North Brunswick, N.J. — Marcus & Millichap has arranged the $4.4 million sale of Church Lane Plaza, a 21,080-square-foot retail property in North Brunswick, about 40 miles southwest of Manhattan. Built on 2.9 acres in 1991, Church Lane Plaza was 90 percent leased at the time of sale to tenants including Bagel Fresh, Brunswick US Cleaners, Karate School, F45 Fitness and Thai Lotus. Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a New Jersey-based limited liability company, in the transaction.

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IllinoisInvestment salesNet leaseNewsRestaurants

SRS Brokers $3 Million Sale of Wendy’s-Occupied Property in Chicago

by Hayden Spiess

Chicago — SRS Real Estate Partners has brokered the $3 million sale of a single-tenant retail property located in Chicago. Wendy’s occupies the 4,031-square-foot building, which was built in 1983 and renovated in 2022, on a net-lease basis. Sean Lutz and Dan Elliot of SRS represented the seller, a California-based private investor, in the transaction. Bruce Lee and Hope Kim of New Star Realty represented the buyer, also a California-based private investor. 

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Grocery-anchoredInvestment salesNewsVirginia

Cushman & Wakefield Brokers Sale of 56,900-Square-Foot Shopping Center in Metro Richmond

by Hayden Spiess

Midlothian, Va. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has arranged the $4.9 million sale of Deer Run Village, a 56,900-square-foot shopping center located in Midlothian, roughly 15 miles outside Richmond. Food Lion anchors the property, which was fully leased at the time of sale. Catharine Spangler and Danielle Beckstoffer of Thalhimer represented the undisclosed seller. 

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Investment salesNewsTexas

Cypressbrook Arranges Sale of 25,441-Square-Foot Shopping Center in Houston

by Hayden Spiess

Houston — Locally based brokerage firm Cypressbrook Co. has arranged the sale of Richmond Design Center, a 25,441-square-foot shopping center in Houston. According to LoopNet Inc., the property was built on 1.6 acres in 1958 and renovated in 2003. John Hornbuckle of Cypressbrook Co. and Rick Hazard of Realty Services Group represented the seller, America Equifinance Corp., in the transaction. Joe Foty of The Blue Ox Group represented the buyer, HRD Interests.

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CaliforniaInvestment salesNewsRestaurants

NAI Brokers $2 Million Sale of Restaurant Building in Southern California

by Hayden Spiess

Simi Valley, Calif. — NAI Capital Commercial has brokered the $2 million sale of a 5,708-square-foot restaurant building in Simi Valley. Situated within Woodlands Plaza, the property was formerly occupied by Cocos and vacant at the time of sale. Michael Schiff of NAI represented both the buyer, SSA California Properties LLC, and the seller, Barsky Family Limited Partnership, in the transaction. The new owner plans to open and operate a breakfast restaurant. 

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Starbucks
Investment salesMichiganNews

Marcus & Millichap Arranges $2.2 Million Sale of Starbucks-Occupied Property in Detroit Suburb

by Hayden Spiess

Royal Oak, Mich. — Marcus & Millichap has arranged the $2.2 million sale of single-tenant property occupied by Starbucks Coffee in the Detroit suburb of Royal Oak. Darin Gross, Ashish Vakhariya and Seth Haron of Marcus & Millichap represented the all-cash buyer and seller. Starbucks exercised an early renewal option for the property.   

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