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Investment sales

Sherwin-Williams-Beaumont-Calif
CaliforniaInvestment salesNet leaseNews

Wood Investments Sells 4,000-Square-Foot Retail Building in Southern California

by Hayden Spiess

Beaumont, Calif. — Wood Investments Cos. Has sold a 4,000-square-foot single-tenant retail pad building located in Beaumont. The company recently developed the property, which is occupied by Sherwin Williams on a net-lease basis. Lee Csenar and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller in the $3.2 million transaction. Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the Hemet, California-based buyer. The retail pad is located adjacent to San Gorgonio Village, a 78,000-square-foot shopping center developed and owned by Wood Investments.

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Center-at-Hudson-Hudson-Mass
Grocery-anchoredInvestment salesMassachusettsNews

Horvath & Tremblay Arranges $21.9 Million Sale of Shopping Center in Hudson, Massachusetts

by Hayden Spiess

Hudson, Mass. —Horvath & Tremblay has arranged the $21.9 million sale of Center at Hudson, a shopping center located in Hudson. A 58,266-square-foot freestanding Stop & Shop anchors the property, which includes an additional 26,339 square feet. Bob Horvath and Todd Tremblay of Horvath & Tremblay brokered the sale on behalf of the undisclosed seller and procured the buyer.

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8257-Meadowbridge-Rd-Mechanicsville-Va
DevelopmentInvestment salesNewsVirginia

WEDGE to Develop 6,500-Square-Foot Retail Strip Center in Mechanicsville, Virginia

by Hayden Spiess

Mechanicsville, Va. — WEDGE Acquisitions LLC has purchased a 1.73-acre parcel in Mechanicsville for $690,000 for the development of a retail strip center. Upon completion, the property will comprise 6,500 square feet. Dunkin’ Donuts will anchor the center. Nathan Shor represented WEDGE in the transaction and Douglas Tice, III represented the seller, Lisa  Waitman.   It should be WEDGE, yes?

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FinanceInvestment salesNewsWisconsin

Bellwether Enterprise Arranges $6.2 Million Acquisition Loan for Retail Center in Suburban Milwaukee

by Hayden Spiess

Brookfield, Wis. — Bellwether Enterprise Real Estate Capital (BWE) has arranged a $6.2 million loan for the acquisition of Shoppes of Brookfield Commons, a retail center located in the Milwaukee suburb of Brookfield. The two-building property totals 42,356 square feet. At the time of loan closing, the center was 54 percent leased. Ryan Morris of BWE arranged the loan on behalf of the borrower, CapRock Real Estate. Ameritas Investment Partners provided the three-year loan, which features a fixed interest rate along with $1 million of future funding for capital improvements …

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Riverhead-Centre-Riverhead-N.Y
Grocery-anchoredInvestment salesNew YorkNews

JLL Arranges Sale of 395,000-Square-Foot Retail Center on Long Island

by Hayden Spiess

Riverhead, N.Y. — JLL Capital Markets has arranged the sale of Riverhead Centre, a 395,000-square-foot retail center located on Long Island in Riverhead. ShopRite and The Home Depot anchor the property, which comprises nine buildings and was 99 percent leased at the time of sale. Other tenants include Best Buy, Petco, Michaels, DSW, Famous Footwear, Barnes & Noble, Ashley Home Store and IHOP. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Mark Belenky of JLL brokered the transaction on behalf of the seller, an entity doing business as AFL-CIO Building Investment …

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IndianaInvestment salesNet leaseNewsRestaurants

Marcus & Millichap Brokers $3.2 Million Sale of Restaurant Property in Northern Indiana

by Hayden Spiess

Fort Wayne, Ind. — Marcus & Millichap has brokered the $3.2 million sale of a 9,500-square-foot freestanding restaurant property in Fort Wayne. Biaggi’s Ristorante Italiano occupies the building, which was constructed as a build-to-suit for the restaurant in 2001, on a net-lease basis. Damien Yoder and Madison Harman of Marcus & Millichap’s Yoder-Harman Group represented the seller, a California-based family trust. An in-state lender provided acquisition financing on behalf of the buyer, an Indiana-based family office. Biaggi’s operates 16 restaurants in eight states. There are six years remaining on its …

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Village-at-RiverGate-Madison-Tenn
Investment salesNewsTennessee

Franklin Street Brokers $8.1 Million Sale of Shopping Center in Metro Nashville

by Hayden Spiess

Madison, Tenn. — Franklin Street has brokered the $8.1 million sale of Village at RiverGate, a shopping center located in the Nashville suburb of Madison. Built in 1981, the property comprises 64,106 square feet and was renovated in 2020. Tenants at the center include JoAnn Fabrics, GameStop, Chuck E. Cheese and We Rock the Spectrum. John Tennant and Bryan Belk of Franklin Street represented the seller, Hendon Properties, in the transaction. An undisclosed local private investor purchased the property.

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Big-Bear-Shopping-Center
CaliforniaDevelopmentGrocery-anchoredInvestment salesNews

Wood Investments Cos. to Develop 80,000-Square-Foot Shopping Center in Big Bear Lake, California

by Hayden Spiess

Big Bear Lake, Calif. — Wood Investments Cos. has purchased a former Kmart building in Big Bear Lake, with plans to develop an 80,000-square-foot shopping center. Upon completion, Big Bear Lake Shopping Centerwill be subdivided into three individual anchor suites. A 17,193-square-foot Grocery Outlet will anchor the property. Another retailer has signed a 23,228-square-foot lease at the property, and a third tenant is in negotiations to lease a 23,228-square-foot space. Construction is scheduled to begin in the fourth quarter of this year, with the opening scheduled for March 2024. Charley …

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FloridaInvestment salesNet leaseNewsRestaurants

SRS Brokers $8.1 Million Portfolio Sale of Two Single-Tenant Retail Properties in Metro Tampa

by Hayden Spiess

Brandon, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.1 million portfolio sale of two single-tenant net-lease retail properties totaling 6,454 square feet in Brandon, roughly 13 miles outside Tampa. The restaurants, which are occupied by Panera Bread and Chipotle Mexican Grill, are outparcels to Lake Brandon Plaza, a 200,000-square-foot, Publix-anchored shopping center. Both properties were completed this year and have new 15-year, absolute triple-net leases in place. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the 1031 …

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