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Investment sales

Westfield-Brandon-Brandon-Fla
FloridaInvestment salesNews

URW Sells Westfield Brandon in Metro Tampa for $220 Million 

by Hayden Spiess

Brandon, Fla. — Unibail-Rodamco-Westfield (URW) has sold Westfield Brandon, a regional shopping mall located roughly 13 miles outside Tampa in Brandon, for $220 million. The property, which totals 1.2 million square feet, was approximately 85 percent leased at the time of sale. Dick’s Sporting Goods and a space formerly occupied by Sears anchor the property. The sale also included a three-acre parcel approved for 180,000 square feet of commercial space as well as a seven-acre development parcel. North American Development Group purchased the center through a joint venture with an institutional …

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South-Bay-Towne-Center-Torrance-Calif
CaliforniaInvestment salesNews

Faris Lee Arranges $8 Million Sale of Retail Outparcel in Metro Los Angeles

by Hayden Spiess

Torrance, Calif. — Faris Lee Investments has arranged the $8 million sale of a retail outparcel located in Torrance, roughly 20 miles outside Los Angeles. Situated within South Bay Towne Center, the outparcel building was fully leased at the time of sale to tenants including Starbucks Coffee, Subway, Flame Broiler, Sushi Boy, Great Steak and Hong Kong Express. Walmart was the buyer. JP Morgan provided financing for the purchase. 

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Grocery-anchoredInvestment salesNewsVirginia

H.I.G. Realty Purchases $110 Million Shopping Center Portfolio in Metro Richmond 

by Hayden Spiess

Henrico and Midlothian, Va. — H.I.G. Realty Partners has purchased a shopping center portfolio for $110 million and formed a joint venture partnership with Rosenthal Properties and FarmViewVentures. Totaling 592,000 square feet, the portfolio includes Parham Plaza, Ridge Shopping Center and Staples Mill Square in Henrico, roughly 10 miles outside Richmond and Stonehenge Village Center in Midlothian, roughly 15 miles outside Richmond. The portfolio was approximately 95 percent leased at the time of sale to tenants including Wegmans, Walmart, The Fresh Market and Aldi. Todd Soloway, Danielle Schechner, Ari Tran, Benjamin …

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CVS-Orlando
FloridaInvestment salesNet leaseNews

Marcus & Millichap Arranges $7.2 Million Sale of CVS-Occupied Building in Orlando

by Hayden Spiess

Orlando, Fla. — Marcus & Millichap has arranged the $7.2 million sale of a single-tenant property located in Orlando. CVS/pharmacy occupies the 13,616-square-foot building on a net-lease basis. Ronnie Issenberg, Gabriel Britti and Ricardo Esteves of Marcus & Millichap represented the undisclosed seller in the transaction.

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Grocery-anchoredInvestment salesMassachusettsNews

Newmark Brokers $45.2 Million Sale of Shopping Center in Metro Boston

by Hayden Spiess

Hingham, Mass. — Newmark has brokered the $45.2 million sale of Lincoln Plaza, a 127,505-square-foot shopping center located in Hingham, approximately 20 miles outside Boston. A 68,087-square-foot Stop & Shop grocery store and a 31,882-square-foot Marshalls anchor the center, which was 99 percent leased at the time of sale. Robert Griffin, Jon Martin, Paul Penman and Matthew Adler of Newmark represented the seller, AEW, in the transaction and procured the buyer, a subsidiary of Jumbo Capital Inc. Casey O’Brien and Connor Scott of Newmark provided financial analysis support for the deal.

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Sylvia-Square-Torrance-Calif
CaliforniaInvestment salesNews

NAI Arranges $6.7 Million Sale of Retail Center in Torrance, California 

by Hayden Spiess

Torrance, Calif. — NAI Capital Commercial has brokered the $6.7 million sale of Sylvia Square, a retail strip center located in Torrance. Built in 1974, the property comprises 15,234 square feet. Sheri Messerlian and David Shaby of NAI represented the seller, an entity doing business as Sylvia Square Properties LLC, and the buyer, Benecia Avenue LLC, in the transaction. 

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CVS-San-Diego
CaliforniaInvestment salesNews

Beta Arranges $5.8 Million Sale of Freestanding Retail Property in San Diego

by Hayden Spiess

San Diego — Beta Agency has arranged the $5.8 million sale of a freestanding retail property located in San Diego. CVS/pharmacy occupies the 16,972-square-foot building. Adam Friedlander of Beta represented the buyer, a private local investor. Connor Olandt of Matthews REIS represented the seller, Tian Ren Di LLC. 

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Heritage-Park-Plaza-East-Longmeadow-Mass
Grocery-anchoredInvestment salesMassachusettsNews

ShopOne Acquires 117,337-Square-Foot Retail Center in East Longmeadow, Massachusetts

by Hayden Spiess

East Longmeadow, Mass. — ShopOne Centers REIT Inc., with joint venture partners Pantheon and an undisclosed institutional investor, has acquired Heritage Park Plaza, a 117,337-square-foot retail center located in East Longmeadow, a suburb of Springfield. Stop & Shop anchors the property, which was 98 percent leased at the time of sale. Other tenants at the center include Petco, Orangetheory Fitness, Panera Bread, Dollar Tree, Pure Barre, 99 Restaurant and Pub and H&R Block. 

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Russ-Avenue-Plaza-Raleigh-N.C
Investment salesNewsNorth Carolina

Divaris Brokers $14.8 Million Sale of Shopping Center in Waynesville, North Carolina

by Hayden Spiess

Waynesville, N.C. — Divaris Real Estate has brokered the $14.8 million sale of Russ Avenue Plaza, a shopping center located in Raleigh. Situated on 17 acres, the property formerly housed a Kmart. Jessica Johnson of Divaris represented the seller, an entity doing business as Russ Avenue Plaza LLC, in the transaction. 

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DevelopmentFloridaInvestment salesMixed-useNews

Codina Partners Acquires 15-Acre Former Sears Site, Plans Redevelopment in Metro Miami

by Hayden Spiess

Hialeah, Fla. — Codina Partners has acquired a 15-acre parcel formerly occupied by Sears at Westland Mall in Hialeah for an undisclosed price. The site has been vacant since February 2020. The locally based buyer has formed a joint venture with Westland Mall owner, Centennial, to redevelop the site and add a mixed-use concept with a residential component. Centennial acquired Westland Mall from Starwood Capital in 2021. The shopping center comprises more than 300,000 square feet of retail space that is anchored by Macy’s, JC Penney and the former Sears site. 

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