Investment sales

Causeway-Shopping-Center_Melbourne-Fla
FloridaInvestment salesNews

TSCG Brokers $16.5 Million Sale of Causeway Shopping Center in Florida

by Hayden Spiess

Melbourne, Fla. — The Shopping Center Group (TSCG) has brokered the $16.5 million sale of Causeway Shopping Center in Melbourne. Ross Dress for Less, Michaels and Bealls anchor the property, which totals 111,816 square feet. Anthony Blanco of TSCG represented the seller, a joint venture between Forge Capital Partners and The Sembler Co. Darrell Deshaw of Western Retail Advisors represented the California-based buyer. Originally built in 1966 and renovated in 2008, the center was 85 percent leased at the time of sale. 

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Smithville-Square_Galloway-N.J
Investment salesNew JerseyNews

Cushman & Wakefield Arranges Sale of 106,931-Square-Foot Retail Center in New Jersey

by Hayden Spiess

Galloway, N.J. — Cushman & Wakefield has arranged the sale of Smithville Square, a 106,931-square-foot retail center located in Galloway. Western Building Co. acquired the property for $13.7 million. Frank DiTomasso, Andy Schwartz, Jordan Sobel, Max Helfman, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, P3 Properties, in the transaction. Situated on 26 acres, the center was 97 percent leased to 19 tenants, including Curexa Pharmacy, at the time of sale. 

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Shepherds-Corner_Trexlertown-Pa
Investment salesNet leaseNewsPennsylvania

Colliers Negotiates $5.4 Million Sale of Shopping Center in Pennsylvania

by Hayden Spiess

Trexlertown, Pa. — Colliers has negotiated the $5.4 million sale of Shepherd’s Corner, a 9,512-square-foot shopping center located in Trexlertown. The property was fully leased at the time of sale. Derek Zerfass and Jeff Algatt of Colliers represented the seller in the transaction. Robbie Stephens of ERA Rudy Amelio represented the buyer. Tenants at the center occupy their respective spaces on a net-lease basis, with leases in place until at least 2032. 

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RiverTown-Crossings_Grandville-Mich
Investment salesMichiganNews

Poag Acquires 1.3 Million-Square-Foot Shopping Mall in Michigan

by Hayden Spiess

Grandville, Mich. — Memphis-based developer Poag Development Group has acquired RiverTown Crossings, a 1.3 million-square-foot enclosed shopping mall located in Grandville, a suburb southwest of Grand Rapids.  The two-story property featured 114 retailers at the time of sale, including Macy’s, Kohl’s, JCPenney, Celebration Cinemas and Dick’s Sporting Goods. The mall first opened in 1999. Although the seller was not disclosed, Brookfield Property Partners assumed ownership of the mall in 2018 as part of its $15 billion acquisition of giant shopping mall operator GGP Inc. The price was not disclosed. According to …

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The-Plant_San-Jose-Calif
CaliforniaInvestment salesNews

Atlantic Capital Partners Brokers $95 Million Sale of Retail Center in San Jose, California 

by Hayden Spiess

San Jose, Calif. — Atlantic Capital Partners has brokered the $95 million sale of The Plant, a retail center located in San Jose. Tenants at the property, which totals 367,000 square feet, include Target, Home Depot, Best Buy, PetSmart, Ross Dress for Less and Ulta Beauty. Justin Smith, Chris Peterson, Sam Koonce and Denielle Donovan of Atlantic represented the seller in the transaction and secured the buyer, Milan Capital Management. Stephen Joseph of Atlantic arranged acquisition financing on behalf of the buyer. The center was 65 percent occupied at the time …

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GeorgiaInvestment salesNews

Hendon Properties Acquires 85,565-Square-Foot Shopping Center in Georgia

by Hayden Spiess

Austell, Ga. — Hendon Properties has acquired East West Shops, an 85,565-square-foot shopping center located in Austell, Georgia. Concorde Group Holdings sold the property for $15.2 million. OneLife Fitness, Starbucks Coffee and Urgent Team anchor the center, which was 96 percent occupied at the time of sale. Brad Peterson, Scott Israel and Tommy Isola of Colliers brokered the sale on behalf of Concorde. 

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Plaza-Rancho-Del-Oro_Oceanside-Calif
CaliforniaGrocery-anchoredInvestment salesNews

CBRE Negotiates Sale of 65,054-Square-Foot Retail Center in Oceanside, California

by Hayden Spiess

Oceanside, Calif. — CBRE has negotiated the sale of Plaza Rancho Del Oro, a 65,054-square-foot retail center located in Oceanside. A&C Properties sold the center for $34.3 million. Albertsons and Planet Fitness anchor the property, which was 92 percent leased at the time of sale. Other tenants include Starbucks Coffee, My Salon Suites, Upper Crust Pizza, Wells Fargo and Carl’s Jr. Jimmy Slusher, James Tyrrell and Megan Lanni of CBRE represented the seller. Reg Kobzi, Michael Peterson and Joel Wilson of CBRE assisted in closing the transaction. 

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Harmony-Commons_Fort-Collins-Colo
ColoradoInvestment salesNews

Cushman & Wakefield Arranges $14 Million Sale of Shopping Center in Fort Collins, Colorado

by Hayden Spiess

Fort Collins, Colo. — Cushman & Wakefield has arranged the $14 million sale of Harmony Commons, a 25,701-square-foot shopping center located in Fort Collins. Built in 2017, the property comprises two multi-tenant buildings and was 87 percent leased to eight tenants at the time of sale. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller, Urban Village, in the transaction. Joshua Guernsey of Waypoint Real Estate represented the undisclosed buyer. 

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Hudson-Heritage_Poughkeepsie-N.Y
Grocery-anchoredInvestment salesNew YorkNews

CBRE Arranges $34 Million Sale of Retail Center in Poughkeepsie, New York

by Hayden Spiess

Poughkeepsie, N.Y. — CBRE has arranged the $34 million sale of Hudson Heritage, a retail center located in Poughkeepsie. ShopRite anchors the property, which totals 120,499 square feet. Other tenants at the center, which was 92 percent leased at the time of sale, include CVS/pharmacy, Starbucks Coffee, Chipotle Mexican Grill, AT&T, Jersey Mike’s Subs, Burger King and PulseMD. An entity doing business as EFG/Saber Heritage SC LLC sold the property to East Coast Acquisitions. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller in the transaction. 

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CaliforniaInvestment salesMixed-useNews

BH Properties Acquires 405,250-Square-Foot Mixed-Use Property in San Diego

by Hayden Spiess

San Diego — BH Properties has acquired Hazard Center, a 405,250-square-foot mixed-use property located in San Diego. Situated on 14.5 acres, the development features 135,000 square feet of retail space, as well as a 270,000-square-foot office tower. Retail tenants at the property include Barnes & Noble, Orange Theory Fitness, BJ’s Brewhouse, Wood Ranch BBQ & Grill, Which Which Superior Sandwiches and FedEx. Adam Edwards, Justin Shepherd, Michael Kathrein and Bailey Bland of Eastdil Secured marketed the property and acted as advisor to the undisclosed seller. 

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