Investment sales

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IllinoisIndianaInvestment salesNews

Mid-America Real Estate Arranges Sale of Two Retail Properties in Illinois, Indiana

by Abby Cox

Round Lake, Ill. and Michigan City, Ind. — Mid-America Real Estate Corp. has arranged the sale of two retail properties in Illinois and Indiana. Andy Bulson, Mike Phillips, Dick Spinell and Mike Fitzgerald represented the seller and owner, Transformco — the company holding former Kmart/Sears assets — in both transactions. The first property, a 190,174-square-foot former Super Kmart store located in Round Lake, was purchased by Target Stores. The second property, a former Sears and Sears Auto Center complex situated directly within Marquette Mall in Michigan City, totals a combined 105,270 …

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902-W-Washington
CaliforniaInvestment salesNews

Location Matters Negotiates $3.2 Million Sale of a Single-Tenant Restaurant Property in Mission Hills, California

by Abby Cox

Mission Hills, Calif. — San Diego-based Location Matters has negotiated the $3.2 million sale of a single-tenant restaurant property located in the San Diego neighborhood of Mission Hills. Situated at 902 W. Washington St., the 2,505-square-foot building is occupied by contemporary American restaurant Harley Gray Kitchen & Bar, which has operated at the site for 12 years. Mike Spilky of Location Matters represented both the seller and the buyer in the transaction. The buyer plans to reposition the space with a new restaurant concept.

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Stafford-Park
Investment salesNew JerseyNews

JLL Negotiates $20.5 Million in Refinancing for Stafford Park in New Jersey

by Abby Cox

Stafford Township, N.J. — JLL Capital Markets has arranged a $20.5 million loan to refinance Stafford Park, a 140,893-square-foot shopping center located in Stafford Township near the Jersey Shore. Jim Cadranell, Ryan Carroll and Christian Badalamenti of JLL secured the five-year, fixed-rate loan through an investment manager on behalf of the borrower, Walters Group. Developed by Walters Group in 2007, the open-air center is fully leased to tenants such as Dick’s Sporting Goods, Best Buy, PetSmart and Ulta Beauty. Stafford Park is also shadow-anchored by Costco and Target.

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Highlandtown-Village_Baltimore
Investment salesMarylandNews

IPA Negotiates Sale of 57,524-Square-Foot Shopping Center in Baltimore

by Abby Cox

Baltimore — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Highlandtown Village, a 57,524-square-foot shopping center located at 3800 E. Lombard St. in Baltimore. Built in 1987, the retail center was fully leased at the time of sale to tenants including Hazlo International Foods, Dollar Tree, Baltimore Bark House, Fishtail Wine and Song’s Beauty Supplies. The average tenant occupancy at Highlandtown Village exceeds 14 years, according to IPA. David Crotts and Dean Zang of IPA represented the undisclosed seller in the transaction. The …

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mcdonalds-rep-photo
CaliforniaInvestment salesNews

RealSource Group Arranges $3.2 Million Sale of Single-Tenant Retail Property in Southern California

by Abby Cox

Wildomar, Calif. — RealSource Group has arranged the $3.2 million sale of a newly constructed, single-tenant retail property located within the Canyon Plaza retail development in Wildomar. McDonald’s occupies the 4,000-square-foot building, which includes a dual-lane prototype design, on a new 20-year absolute triple-net ground lease. Jonathan Schiffer and Austin Blodgett of RealSource represented the seller, a private Southern California-based developer. Dustin Lee of J&C Investment Group represented the buyer, a private international investor, in the transaction.

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Geist-Landing
IndianaInvestment salesNews

Hanley Investment Group Arranges Sale of Four Retail Strip Centers in Indiana for $30.5 Million

by Abby Cox

Fishers and McCordsville, Ind. — Hanley Investment Group Real Estate Advisors has arranged the sale of four retail strip centers in separate transactions for $30.5 million in Indiana. Spanning 83,000 square feet, the properties include Brookschool Plaza, Sunblest Shoppes and Geist Landing in Fishers, and Geist Corner in McCordsville. Dylan Mallory of Hanley, in association with Parasell Inc., represented the seller in all four transactions. The first property, Brookschool Plaza, totals 22,400 square feet and was fully leased to tenants including Dunkin’, Sherwin-Williams and Ascension Medical Group. The seller was a …

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Franklin-Commons
FinanceGrocery-anchoredIndianaInvestment salesNews

MMCC Arranges $7.6 Million in Financing for Retail Center in Suburban Indianapolis

by Abby Cox

Franklin, Ind. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7.6 million in financing for Franklin Commons, an 85,980-square-foot retail center located in Franklin, about 20 miles south of Indianapolis. Garrett Fierstein of MMCC secured the financing with a local bank on behalf of the borrower. The five-year loan features a 6.5 percent interest rate, 25-year amortization period and a 70 percent loan-to-value ratio. Anchored by Kroger, Franklin Commons is also home to Marshalls, Ross Dress for Less, PetSmart and Five Below.

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Investment salesKentuckyNews

SRS Real Estate Negotiates Sale-Leaseback of 3,250-Square-Foot Single-Tenant Retail Property in Louisville, Kentucky

by Abby Cox

Louisville, Ky. — SRS Real Estate Partners has negotiated the sale-leaseback of a newly redeveloped, single-tenant retail property in Louisville. Taco Bell occupies the 3,250-square-foot building. Sarah Shanks and Morgan Zant of SRS Real Estate Partners represented the seller, Southpaw, a Connecticut-based Taco Bell franchisee. The buyer was a California-based private investor. 

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Derby Shopping Center
ConnecticutInvestment salesNews

IPA Negotiates $15.4 Million Sale of Derby Shopping Center in Connecticut

by Abby Cox

Derby, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $15.4 million sale of Derby Shopping Center, a 170,683-square-foot shopping center located in Derby, eight miles west of New Haven. Built in phases from 1985 to 2023, Derby Shopping Center is home to a mix of tenants including Splash Car Wash, Webster Bank, Dunkin and Lowe’s Home Improvement, which occupies 90 percent of the property’s total square footage. Jim Koury of IPA and Henry McKenney of Marcus & Millichap represented the seller and procured …

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Mulberry-Village
GeorgiaGrocery-anchoredInvestment salesNews

Essential Growth Properties Acquires Publix-Anchored Shopping Center in Mulberry, Georgia, for $13.4 Million

by Abby Cox

Mulberry, Ga. — Essential Growth Properties has acquired Mulberry Village, a 75,200-square-foot grocery-anchored center located in Mulberry, approximately 50 miles northeast of Atlanta, for $13.5 million. Built in 2008 on about 17 acres, Mulberry Village is anchored by a newly renovated Publix. Additional tenants at the center, which was 94 percent occupied at the time of sale, include Taco Bell, Maria’s Tex Mex, State Farm, Capital Nails, Spice Wing and Peking Chinese. The property also features four undeveloped outparcels for future use. Jim Hamilton, Brad Buchanan, Andrew Michols and Charlie …

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