Easton, Pa. — CBRE has negotiated the sale of Forks Town Center, a 100,250-square-foot shopping center located in the Lehigh Valley city of Easton. Giant Food anchors the center, which was fully leased at the time of sale. Additional tenants include Dunkin’, PNC Bank, Fine Wine & Good Spirits and Verizon Wireless. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE’s National Retail Partners team represented the seller, JC Bar Properties Inc., in the transaction.
Berkeley, Calif. — Flying Horse Investments LLC (FHI) has acquired Shattuck Plaza, a 29,187-square-foot, street-front retail property located in downtown Berkeley, with plans to renovate the center. Renovations will include lease-ready storefronts on the 17,767-square-foot ground-level. The building’s 11,430-square-foot lower-level space will also be reactivated to feature community-serving tenants, such as fitness, education and wellness concepts. The renovation is expected to begin immediately, with FHI targeting approximately six to nine months for initial building upgrades and another six to nine months for tenant buildouts, subject to permitting and city approvals. …
Houston — Baker Katz has acquired Lakewood Forest Shopping Center, a 108,016-square-foot shopping center located in northwest Houston. Situated adjacent to Target, Lakewood Forest Shopping Center was originally built in 1984 on roughly 11 acres, according to LoopNet Inc. Current tenants at the property include Planet Fitness, Dollar Tree, First Watch, Taco Cabana and KFC. Jason Baker, Kenneth Katz, Ben Brown and Jack Moody of Baker Katz arranged the acquisition.
Orlando, Fla. — JLL Capital Markets has arranged $17.5 million in financing for the acquisition of International Shoppes, a 73,568-square-foot open-air shopping center located in Orlando near Walt Disney World Resort. The property is currently 82 percent leased to tenants including Boot Barn and Subway. Joshua Odessky, Michael DiCosimo and Aaliyah St. Louis of JLL’s Debt Advisory team secured financing through Ameris Bank on behalf of the borrower, The Cornfeld Group.
Provo, Utah — Bershon Realty Co. LP has sold Bulldog Plaza, a 13,620-square-foot retail center located near Brigham Young University (BYU) in Provo. Anchored by CVS Pharmacy, Bulldog Plaza comprises two retail pad buildings, which are both fully leased. The five-tenant, 10,025-square-foot pad building includes Noodles & Co., Firehouse Subs, Coco Tea, Teriyaki Bowl and The Taco Spot. Meanwhile, the three-tenant, 3,595-square-foot building is occupied by Papa John’s, The Paleta Bar and Crazy D’s Hot Chicken. Bill Asher, Jeremy McChesney, Jeff Lefko and Ed Hanley of Hanley Investment Group Real Estate …
Sharpsburg, Ga. — Hanley Investment Group Real Estate Advisors has brokered the $26.9 million sale of Fischer Marketplace, a newly constructed, 70,134-square-foot Publix-anchored shopping center in Sharpsburg, approximately 38 miles southwest of Atlanta. Additional tenants at the property, which was fully occupied at the time of sale, include Jersey Mike’s, Dave’s Hot Chicken, Nothing Bundt Cakes and Great Clips. The sale also features three outparcels leased to Gusto!, Heartland Dental and Andy’s Frozen Custard. Publix occupies approximately 69 percent of the property on a long-term lease. Kevin Fryman and Ed Hanley …
Kingsport, Tenn. — Marcus & Millichap has arranged the sale of Shoppes at East Stone, a 23,876-square-foot retail center located in Kingsport, a city near the Tennessee-Virginia border. Built in 2011, the property was 95 percent leased at the time of sale to tenants including Jersey Mike’s, Stanton Optical, East Coast Wings + Grill, Lendmark Financial Services, Lumber Liquidators and Polish Nail Bar. Michael J. Early of Marcus & Millichap represented the seller, a Maryland-based family office, in the transaction. Jody McKibben was Marcus & Millichap’s broker of record in Tennessee.
Charlottesville, Va. — A joint venture between Cohen & Steers Income Opportunities REIT (CNSREIT) and Philips Edison & Co. (PECO) has acquired Rio Hill Shopping Center, a 288,000-square-foot open-air shopping center located near the University of Virginia (UVA) in Charlottesville. This transaction marks CNSREIT’s third acquisition with PECO and its seventh open-air shopping center. Rio Hill Shopping Center is leased to Kroger and two TJX concepts. The sales price was not disclosed.
Batavia, Ill. — Cushman & Wakefield has negotiated the sale of Fabyan Randall Plaza, a 91,415-square-foot neighborhood retail center located in Batavia, a western suburb of Chicago. Trader Joe’s anchors the property, which features a mix of additional retailers including Sierra Trading Post, Dollar Tree and a freestanding Walgreens. Evan Halkias and David Matheis of Cushman & Wakefield, along with Glenn Rudy of Newmark Pacific, represented the seller, Plano, Texas-based NetCo Investments Inc., in the transaction. The buyer was a private investor.
Houston — Whitestone REIT has acquired Ashford Village Center, an 81,407-square-foot grocery-anchored, neighborhood shopping center located in Houston. Tenants include Thanjai Mess, Ramen Bar Ichi, Japan House, Dollar Tree, Giggles and Fun, Salon Village and Japanese grocer Seiwa Market, which anchors the property. Ashford Village Center was originally built in 1979 on roughly 7 acres, according to LoopNet Inc. Ashford Village marks Whitestone’s 10th neighborhood shopping center acquisition in Houston.
