Kinston, N.C. — Legacy Realty Group Advisors has brokered the $3.5 million sale of Heritage Crossing, a 50,467-square-foot shopping center located in Kinston. Food Lion, Rainbow and Hibbett Sports anchor the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction.
Covington, Ga. — Cushman & Wakefield has arranged the sale of Shops at Covington Town Center, a 62,787-square-foot retail center located in Covington, roughly 35 miles outside Atlanta. Opened in 2023, the center is anchored by a 48,387-square-foot Publix, with an additional 14,400 square feet of retail space. A joint venture between The Sembler Co. and Berkeley Development was the developer and seller of the property, which is situated within a master-planned project featuring residential and hotel space. Margaret Jones, Lane Breedlove, Adam Feinstein, Mark Gilbert and Mitchell Halpern of Cushman …
Rome, N.Y. — BWE has secured an $8 million loan for the acquisition of Freedom Plaza, a shopping center located in Rome in central New York. Tenants at the property, which totals 197,397 square feet, include Grand Union, Dollar Tree, Domino’s and Marshalls. Hobby Lobby is also scheduled to open at the property this year. Alan Tapie of BWE arranged the five-year, fixed-rate financing on behalf of the borrower, Octave Investment.
East Moline, Ill. — Marcus & Millichap has brokered the $2.7 million sale of a single-tenant property located in East Moline, a city in northwest Illinois. Caliber Collision occupies the building on a net-lease basis. The property recently underwent $400,000 in renovations, including parking lot resurfacing, new HVAC and new LED lighting. Jake Carter, Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the seller, a private investor, in the transaction.
Watchung, N.J. — JLL Capital Markets has arranged the sale of Heritage Square, an 87,318-square-foot retail center located in Watchung, roughly 30 miles outside New York City. Developed in 2019, the property was leased to tenants including HomeSense, Sierra Trading Post, CityMD, Starbucks Coffee, Chick-fil-A, Ulta Beauty, Miller’s Ale House and David’s Bridal. Jose Cruz, J.B. Bruno, Kevin O’Hearn and Austin Pierce of JLL represented the undisclosed seller in the transaction and procured the buyer, Urban Edge Properties.
Los Angeles — Bolour Associates Inc. (BOLOUR) has acquired a retail center located at 5151 W. Pico Blvd. in Los Angeles for $4.5 million. The property, which totals 7,474 square feet, was 75 percent leased at the time of sale. Tenants at the center include Domino’s Pizza and Quick & Bright Coin Laundry. BOLOUR was self-represented in the transaction. Nick Virzi of Triad Management Systems represented the undisclosed seller.
Everett, Wash. — Matthews Real Estate Investment Services has facilitated the $5.9 million sale of a single-tenant property in Everett. 7-Eleven occupies the property on a net-lease basis. Brandon Sontz, Nick Hahn and Chad Kurz of Matthews brokered the transaction. A local developer sold the property to an undisclosed buyer.
Houston — Whitestone REIT has acquired Garden Oaks Shopping Center, a 107,000-square-foot retail center located in Houston. Aldi anchors the property, which was 96 percent leased to 19 retailers at the time of sale. Other tenants at the center include Planet Fitness and Dollar Tree.
Tucson, Ariz. — Prairie Hill Holdings has acquired Rillito Crossing Marketplace, a shopping center located in Tucson, for $27.5 million. A 96,424-square-foot Sprouts Farmers Market anchors the property. LA Fitness is also a tenant at the center, which includes an empty parcel that allows for up to 25,000 square feet of additional development and another undeveloped parcel situated at the entrance of the property.
Lake Mary, Fla. — Cushman & Wakefield has arranged the sale of Shoppes of Lake Mary, a 74,234-square-foot shopping center located in Lake Mary, roughly 20 miles outside Orlando. Tenants at the property, which was 97 percent leased at the time of sale, include HomeSense, PNC Bank, Jeremiah’s Italian Ice and Gator’s Dockside. An entity related to Phillips Edison & Co. acquired the property for an undisclosed price. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an affiliate of Nuveen Real Estate, in the transaction.
