Los Angeles — Kidder Mathews has arranged the $32.7 million sale of Holmby Hall, a landmark retail property in the Westwood Village neighborhood of Los Angeles. Holmby Hall offers 50,790 square feet of retail space. The building, which is designated as a Historic-Cultural Monument by the Los Angeles City Council, was built in 1929 in the Spanish Colonial Revival style and features a 110-foot clock tower. Tanel Harunzade and Darrell Levonian of Kidder Mathews, along with former Kidder Mathews agent David Saghian, brokered the transaction. Additional details of the transaction …
Investment sales
Mission, Texas — Irvine, California-based Faris Lee Investments has brokered the sale of Mission Gateway, a 92,117-square-foot retail center located in Mission. Burlington and Murdoch’s Ranch & Home Supply anchor the property on long term leases. Olive Garden and Jack in the Box, which are also located at the center, were not included in the sale. Don MacLellan, Jeff Conover and Scott DeYoung represented the seller, a Texas-based developer, in the transaction. The buyer was an all-cash REIT.
Atlantic Capital Arranges $12.1 Million Sale of Woodford Square Shopping Center in Chesapeake, Virginia
Chesapeake, Va. — Atlantic Capital Partners has arranged the $12.1 million sale of Woodford Square, an 85,323-square-foot shopping center located in the Hampton Roads city of Chesapeake. Harbor Freights anchors the center, which was fully leased at the time of sale to tenants including Dollar General, Hair Cuttery, Roses Discount Store, Dragon China Restaurant and Med Emporium. Fred Victor of Atlantic Capital represented the seller, New York-based Moxie Equities, in the transaction. The buyer was United Properties.
Miami — JLL Capital Markets has arranged the $62.1 million sale of Red Bird Center, a 92,089-square-foot retail center located in Miami. Milam’s Markets anchors the property, which was fully occupied at the time of sale. Additional tenants include Walgreens, Orion Fuels and Ace Hardware. Danny Finkle, Jorge Portela and Kim Flores of JLL’s Investment Sales and Advisory team represented the seller, Red Bird Associates, in the transaction. The buyer was Charlotte, North Carolina-based Asana Partners.
Vienna, W. Va. — Niles, Ohio-based Cafaro has acquired Grand Central Mall, a 908,238-square-foot shopping center located in Vienna, approximately five miles north of Parkersburg. The shopping center’s anchor space, which was formerly occupied by Sears, was recently redeveloped to accommodate a mix of tenants such as T.J. Maxx, HomeGoods, Ross Dress for Less and PetSmart. Cafaro is also planning a mall-wide renovation to create a fresh, modern and functional atmosphere. Opened in 1972 and situated on roughly 100 acres along the Ohio River, Grand Central Mall features more than 65 …
Atlanta — Locally based 26th Street Partners has acquired Krog Street Market, a 30,000-square-foot adaptive reuse food hall and market in Atlanta’s Inman Park neighborhood, according to the Atlanta Business Chronicle. Charlotte-based Asana Partners sold the property, along with the adjacent Atlanta Stove Works, SPX Alley and Butler and Gravel buildings. The sales price was not reported, but Asana purchased the Krog District buildings in 2018 for $45.8 million. Paces Properties originally redeveloped the 1920s-era warehouse, which was also formerly used as the home of Tyler Perry Studios, into Krog Street …
Houston — JLL has arranged the sale and financing of Sugar Park Plaza, a 95,032-square-foot neighborhood retail center located in Houston. Renovated in 2016, Sugar Park Plaza features one in-line retail building and three pad sites. Marshalls anchors the center, which was fully leased at the time of sale, and includes a mix of 15 other tenants including Aga’s Restaurant & Catering, Skechers, Chase Bank, ExxonMobil and Magnum Staffing. Sugar Park Plaza was built in 1974 on nearly 30 acres. John Indelli and Ryan West of JLL represented the seller …
Alpharetta, Ga. — Locally based TSCG has negotiated the $12.9 million sale of The Village at Park Bridge, a 28,701-square-foot strip center located in Alpharetta, roughly 26 miles north of Atlanta. Tenants at the center, which was 96 percent leased at the time of sale, include Starbucks, Jimmy John’s, Crumbl Cookies, Pepperoni’s Tavern, Kin No Tori Ramen Bar and Koi Kaiten Sushi. Originally built 2003, The Village at Park Bridge previously sold for $9.7 million in 2006. Anthony Blanco of TSCG represented the seller, Birmingham, Alabama-based Fairway Investments, in the …
CrownPoint Partners Brokers $11.5 Million Sale of Single-Tenant Retail Property in Southwest Florida
Naples, Fla. — CrownPoint Partners has brokered the $11.5 million sale of a single-tenant retail property located within the Golden Gate Estates community in Naples. Tractor Supply Co. occupies the 23,279-square-foot building on a 15-year corporate guaranteed lease as a new prototype store layout, which includes an outdoor garden area, feed center and fenced-in display space. Shannon Bona and Julius Swolsky of CrownPoint Partners represented the seller, a Southeast-based developer, in the transaction. David Weinberg of Marcus & Millichap represented the buyer, a Midwest-based private 1031 exchange investor.
Miami — El Paso, Texas-based River Oaks Properties (ROP) has acquired a 5,875-square-foot retail property located at 111-115 NE 40th St. in Miami’s Design District for $27 million. Luxury luggage manufacturer Rimowa and footwear brand Birkenstock fully occupy the property on long-term, triple-net leases. Pegasus Investments Real Estate Advisory represented the buyer in the transaction. Jordan Gimelstein of Inhouse Commercial represented the seller, an affiliate of Harbor Group International. Akerman LLP’s Miami office served as legal advisor to ROP. Miami’s Design District features a mix of high-end retailers including Louis Vuitton, …