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Investment sales

True Value
Company newsFinanceIllinoisInvestment salesNews

Hardware Retailer True Value Files for Bankruptcy, Enters Into $153 Million Sales Agreement with Do it Best Corp. 

by Hayden Spiess

Chicago — Hardware retailer True Value Co. LLC has initiated voluntary Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the District of Delaware.  The Chicago-based retailer has also entered into an agreement to sell substantially all of its business operations to Do it Best Corp., another entity within the home improvement retail sector and former rival. According to Reuters, Do it Best will serve as the stalking horse bidder for True Value with an acquisition price set at $153 million in cash and the assumption of $45 million in contracts and …

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Grocery-anchoredInvestment salesNewsTexas

JLL Brokers Sale of 114,982-Square-Foot Shopping Center in Houston

by Hayden Spiess

Houston — JLL has brokered the sale of Little York Plaza, a 114,982-square-foot shopping center located in Houston. Hispanic grocer Sellers Bros. anchors the property, which was built in 1987. Other tenants at the center include Dollar Tree, Melrose Family Fashions and Aaron’s Appliances. Ryan West and John Indelli of JLL represented the undisclosed seller in the transaction. The buyer was The Criterion Fund. 

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CaliforniaInvestment salesNews

Faris Lee Investments Arranges $5.3 Million Presale of Single-Tenant Retail Property in Fresno, California

by Hayden Spiess

Fresno, Calif. — Faris Lee Investments has arranged the $5.3 million presale of a newly constructed, single-tenant retail property in Fresno. The Learning Experience daycare occupies the property on a long-term 20-year net-lease basis. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee represented the undisclosed seller in the transaction. 

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Turkey-Lake-Plaza_Orlando-Fla
FloridaInvestment salesNews

Marcus & Millichap Brokers $10.8 Million Sale of Retail Center in Orlando, Florida

by Hayden Spiess

Orlando, Fla. — Marcus & Millichap has brokered the $10.8 million sale of Turkey Lake Plaza, a retail center located in Orlando. Built in 2010, the property totals 19,719 square feet. Turkey Lake Plaza was leased to 12 tenants at the time of sale, including Gyu-Kaku Japanese BBQ. Tarek Chbeir of Marcus & Millichap procured the buyer, a local investor, in the transaction. The seller was also not disclosed.

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Waynesboro Town Center
Investment salesNew YorkNewsVirginia

Chase Properties Acquires Two Retail Centers Totaling 350,810 Square Feet in New York, Virginia

by Hayden Spiess

Ithaca, N.Y. and Waynesboro, Va. — Chase Properties has acquired two retail centers — Creekside Plaza in Ithaca, New York, and Waynesboro Town Center in Waynesboro, Virginia. Built in 2001, Creekside Plaza comprises 180,000 square feet. Tenants at the property, which was 95 percent leased at the time of acquisition, include Dick’s Sporting Goods, HomeGoods, Barnes & Noble and O’Reilly Auto Parts. Waynesboro Town Center was built in 2007 and was 98 percent leased at the time of acquisition. Tenants at the 170,810-square-foot property include Ross Dress for Less PetSmart, Burlington …

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East-Brook-Mall_Mansfield-Center-Conn
ConnecticutInvestment salesNews

The Kislak Co. Brokers $12 Million Sale of East Brook Mall in Connecticut 

by Hayden Spiess

Mansfield Center, Conn. — The Kislak Co. has brokered the $12 million sale of East Brook Mall in Mansfield Center for $12 million. Built in 1975 and renovated in 2005, the property totals 275,239 square feet, including an enclosed mall, as well as open-air retail space and pad sites. Tenants at East Brook Mall include Old Navy, Kohl’s, T.J. Maxx and Michaels. Barry Waisbrod of Kislak and Andrew Knight of New England Commercial Brokerage represented the seller, America’s Realty, in the transaction.

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Jack-in-the-Box_Alameda-Calif
CaliforniaInvestment salesNewsRestaurants

Hanley Arranges $4 Million Sale of Single-Tenant Property in Metro San Francisco 

by Hayden Spiess

Alameda, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of a single-tenant retail property located in Alameda, roughly 15 miles east of San Francisco. Jack in the Box occupies the building, which totals 2,583 square feet and features a drive-thru. Originally built in 1991, the property is situated within the shopping district of Downtown Alameda. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley, with Cherie Huillade of Colliers, represented the seller, CalBay Development, in the transaction. Jake Kim of Pinnacle Estate Properties represented the …

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Investment salesMassachusettsNews

Second Horizon Capital Acquires 150,000-Square-Foot Macy’s Store in Kingston, Massachusetts

by Hayden Spiess

Kingston, Mass. — Second Horizon Capital has acquired a 150,000-square-foot Macy’s store located in Kingston in a sale-leaseback transaction. Situated on a 15.2-acre parcel, the building is located within Kingston Collection. Macy’s will continue to operate at the site through early 2025. 

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Arapaho-Village_Richardson-Texas
Grocery-anchoredInvestment salesNewsTexas

DIG Brokers Sale of 101,507-Square-Foot Shopping Center in Dallas Suburb

by Hayden Spiess

Richardson, Texas — Disney Investment Group (DIG) has brokered the sale of Arapaho Village, a 101,507-square-foot shopping center located in the Dallas suburb of Richardson. Tom Thumb anchors the property, which was roughly 92 percent leased at the time of sale. David Disney and Adam Crockett of DIG represented the seller, WASA Properties, in the transaction. An affiliate of Weitzman acquired the center for an undisclosed price. 

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West-Commercial-Landings_Sunrise-Fla
FloridaInvestment salesNews

Marcus & Millichap Brokers $5.7 Million Sale of Retail Center in Sunrise, Florida

by Hayden Spiess

Sunrise, Fla. — Marcus & Millichap has brokered the $5.7 million sale of West Commercial Landings, a retail center located in Sunrise. Tenants at the property, which totals 11,700 square feet and was 87 percent leased at the time of sale, include Huey Magoo’s, McAlister’s Deli, Verizon Wireless and Papa John’s. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller, Konover South, in the transaction. Stablewood Properties was the buyer. 

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