Southbridge, Mass. — Chozick Realty Inc. has facilitated the $11.1 million sale of Southbridge Fair, a 113,500-square-foot retail property located in Southbridge. Big Y World Class Market anchors the center, which was originally built on 13 acres in 1972 and renovated in 1996. The shopping center was fully leased at the time of sale. Additional tenants at the property include Advance Auto Parts, Aubuchon Hardware, McDonald’s, Family Dollar and Great Clips. Tom Boyle of Chozick Realty represented the undisclosed seller and procured the buyer in the transaction.
Investment sales
Bellevue, Neb. — Investors Realty has arranged the $13.6 million sale of Twin Creek Shopping Center located in the Omaha suburb of Bellevue. The center comprises eight retail properties totaling 83,085 square feet. River Village Twin Creek, LLC sold the property to Classic Street Partners, LLC. Ember Grummons of Investors Realty represented the seller in the transaction. Tim Kerrigan, Grant Kobes and Jared Simon of Investors Realty also represented the buyer.
Sparta, Tenn. — Cooper Commercial Investment Group has brokered the $3.6 million sale of Taft Church Station in Sparta, located in the Nashville MSA. Built in 2004, the 18,700-square-foot shopping center was 85 percent leased at the time of sale. Tenants at the property include Fast Pace Health Urgent Care, Verizon Wireless and DaVita Dialysis. The center is shadow-anchored by Walmart. Dan Cooper of Cooper Commercial represented the seller, a Texas-based private investment group, in the transaction. The Tennessee-based buyer purchased the property with a 7.9 percent cap rate.
Doral, Fla. — Marcus & Millichap has arranged the $9.7 million sale of Doral Shops & Professional Center located in Doral, approximately 13 miles west of downtown Miami. The property spans 15,314 square feet and features nine tenants operating on a triple-net lease basis, including South Dental Doral, Doral Physical Therapy, Uni K Wax and La Coriana. Scott Sandelin and Edward Romo of Marcus & Millichap represented the undisclosed seller and procured the buyer in the transaction.
Mansfield, Texas —STRIVE has brokered the sale of Owen Plaza, a 11,944-square-foot retail property located in Mansfield, roughly 22 miles southwest of Dallas. The property was fully leased at the time of sale. Parker Tims and Jennifer Pierson of STRIVE represented the seller, an undisclosed local investor, in the transaction. The buyer was not disclosed.
Las Vegas — CBRE has arranged the $50.2 million sale of a 115,037-square-foot portion of Mountain’s Edge Marketplace, a 250,000-square-foot shopping center located within the master-planned community of Mountain’s Edge in Las Vegas. Built in 2016, the property is situated on roughly 14.8 acres. Tenants at the center, which was 98 percent leased at the time of sale, include Ross Dress for Less, Planet Fitness, Starbucks Coffee, Supercuts, The UPS Store, China A Gogo and T-Mobile. The sale excluded the parcel occupied by Albertsons, as well as multiple single-tenant parcels. …
Gibsonton, Fla. — Marcus & Millichap has brokered the $6.1 million sale of Kings Lake Center, a retail strip center located in Gibsonton, roughly 10 miles outside Tampa. The 15,000-square-foot property was fully leased at the time of sale. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, Blissett Hayes Big Bend LLC, in the transaction. Marcus & Millichap also procured the 1031-exchange buyer, Pacific West Land LLC. Ryan Nee is the firm’s broker of record in Florida.
Addison, Texas — Westwood Financial has sold Quorum Plaza, a 77,319-square-foot retail center located in Addison, roughly 14 miles north of downtown Dallas. Tenants at the property include Verizon Wireless, The Melting Pot, 7-Eleven and The Improv. JLL Capital Markets brokered the transaction.
Philadelphia — The Palomar Group has brokered the sale of South Philadelphia Shopping Center, a 221,157-square-foot retail center located in Philadelphia. Tenants at the property include ShopRite, Ross Dress for Less, Five Below, Burger King, Sherwin-Williams, The Aaron’s Company and Dunkin’ Donuts. Palomar facilitated the transaction on behalf of the seller, a publicly traded REIT. A New York-based investor was the buyer.
Matawan, N.J. — Marcus & Millichap has brokered the $3 million sale of Matawan Mall, a shopping center located in Matawan, approximately 27 miles outside Newark. Originally developed in the 1980s, the 20,665-square-foot property comprises 11 tenants and is anchored by Dunkin’ Donuts. Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap represented the seller, Burpat Holdings, in the transaction. Marcus & Millichap also procured the buyer, a local private investor.