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Investment sales

Fairlane North
Investment salesMichiganNews

Mid-America Brokers Sale of 151,121-Square-Foot Shopping Center in Dearborn, Michigan 

by Abby Cox

Dearborn, Mich. — Mid-America Real Estate Corp. has brokered the sale of Fairlane North, a 151,121-square-foot shopping center in Dearborn. The property will be rebranded as Dabaja Fairlane North Properties. The center is fully leased to Value City Furniture, Crunch Fitness, Forman Mills, Happy’s Outlet and Verizon Wireless. Ben Wineman, Eric Geskermann, Daniel Stern and Tony Schmitt of Mid-America represented the seller, a private investment group, in the transaction. Ali Charara of Century 21 Curran & Oberski represented the buyer, metro Detroit-based Dabaja Brothers Development Group. The transaction represents the …

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Pique at Angel Stadium
CaliforniaInvestment salesNews

Vista Emerald Acquires 15,710-Square-Foot Multi-Tenant Shopping Center in Anaheim, California, for $11.3 Million

by Abby Cox

Anaheim, Calif. — Encinitas, California-based Vista Emerald has acquired Pique at Angel Stadium, a 15,710-square-foot multi-tenant retail center located in Anaheim, for $11.3 million. Formerly known as The Shops at Stadium Towers, the property was originally built in 2006 on 2.2 acres. The center was fully leased to eight tenants including 714 Tickets, Aleppo’s Kitchen, Comerica Bank, LAMILL Coffee, Lolas by MFK and Non’s Vietnamese Kitchen at the time of sale, according to LoopNet. The property also offers 150 parking spaces, 16 Tesla Superchargers and prominent pylon street signage. Lee …

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Cumberland Crossing
Investment salesKentuckyNews

Marcus & Millichap Brokers $5.9 Million Sale of Cumberland Crossing in Monticello, Kentucky

by Abby Cox

Monticello, Ky. — Marcus & Millichap has brokered the $5.9 million sale of Cumberland Crossing, a 94,366-square-foot shopping center located in Monticello. Situated on roughly 16 acres, Cumberland Crossing was 86 percent leased to tenants including Marshalls, Five Below, Farmers Home Furniture, Dollar Tree and Great Clips at the time of sale. Walmart, which has operated at the site since 2001, shadow anchors the property. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller in the transaction. Grant Fitzgerald was the firm’s broker of record in Kentucky.

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Golden Acres Shopping Center
Grocery-anchoredInvestment salesNew JerseyNews

JLL Negotiates $40 Million Sale of Golden Acres Shopping Center in Northern New Jersey

by Abby Cox

Morristown, N.J. — JLL Capital Markets has negotiated the $40 million sale of Golden Acres Shopping Center, a 219,848-square-foot retail center located in Morristown. The property is anchored by an 80,000-square-foot ShopRite that underwent renovations in 2016. Other tenants at the center include Shoppers World, Unique Thrift Store and a Wendy’s outparcel. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Kavaler and Joseph Lopresti of JLL’s Investment Sales and Advisory team represented the seller in the transaction. The buyer was a joint venture between Agus Holdings and TreeCo.

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Killeen Marketplace
ArkansasInvestment salesNewsTexas

Chase Properties Buys 514,983-Square-Foot Retail Portfolio Across Texas and Arkansas 

by Abby Cox

Texas and Arkansas — Beechwood, Ohio-based Chase Properties has purchased a 514,983-square-foot retail portfolio of four shopping centers located in Texas and Arkansas. The portfolio includes Southloop Crossing in Lufkin, Texas; Killeen Marketplace in Killeen, Texas; Southcenter Shopping Center in Hot Springs, Arkansas; and Massard Crossing in Fort Smith, Arkansas. Notable tenants at the properties include Ross Dress for Less, Best Buy, T.J. Maxx, Kroger and Hobby Lobby. The portfolio was 97 percent leased at the time of sale. This transaction marks the company’s entry into both states. Adam Howells, …

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The Shops at Greenlawn
Investment salesNewsTexas

SRS Real Estate Brokers Sale of 22,970-Square-Foot Retail Center in Metro Austin

by Abby Cox

Round Rock, Texas — SRS Real Estate has brokered the sale of The Shops at Greenlawn, a 22,970-square-foot retail center located in the Austin suburb of Round Rock. Situated near Dell Technologies headquarters, The Shops at Greenlawn was 92 percent leased to nine tenants including Next Level Urgent Care, Bay Leaf Indian Restaurant, Wow Eyebrows, WiseGuys, Clearview Dental and Arepitas at the time of sale. Cathy Nabours, Kyle Shaffer and Sam Nichols of SRS Capital Markets represented the seller, locally based Mathias Partners, in the transaction. The buyer was an …

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Sprouts Farmers Market
FloridaGrocery-anchoredInvestment salesNewsNorth CarolinaSouth Carolina

Ram Realty Buys 600,000-Square-Foot Retail Portfolio for $200 Million 

by Abby Cox

Palm Beach Gardens, Fla. — Palm Beach Gardens, Florida-based Ram Realty Advisors has purchased a 600,000-square-foot retail portfolio of seven grocery-anchored shopping centers across the Southeast for $200 million. The portfolio includes Mainstreet at Midtown in Palm Beach Gardens, Florida; Homestead Market and Bull City Market in Durham, North Carolina; Holly Springs Crossing in Holly Springs, North Carolina; Mainstreet Village in Hilton Head Island, South Carolina; The Market at Mills Park in Orlando, Florida; and Blys in Oakland Park, Florida. The portfolio, which was 98.7 percent occupied at the time of …

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JCPenney
Company newsInvestment salesLeasingNew JerseyNews

Onyx Partners to Acquire JCPenney Retail Portfolio for $947 Million 

by Abby Cox

Jersey City, N.J. — Onyx Partners of Boston has entered into a binding purchase and sale agreement to acquire 119 JCPenney stores from Copper Property CTL Pass Through Trust, a real estate investment trust created as part of JCPenney’s 2020 Chapter 11 bankruptcy filing, for $947 million. The sale price represents roughly $8 million per store property. The portfolio, which totals nearly 16 million square feet across 34 states, is net leased to JCPenney under a long-term master lease with Penney Intermediate Holdings LLC. The all-cash sale is scheduled to …

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Ellingson Crossing
Investment salesNewsWashington

Northmarq Arranges Sale of Ellingson Crossing in Metro Seattle

by Abby Cox

Auburn, Wash. — Northmarq has arranged the sale of Ellingson Crossing, a 15,270-square-foot retail center located within the Auburn/Kent Valley Industrial District, roughly 20 miles south of Seattle. Starbucks Coffee anchors the property, which was originally built in 2007. Tenants at the center include Wingstop, Domino’s Pizza, Taco Time, American Family Insurance and You First Dental Care. Sean Tufts, Kevin Adatto and Joe Dugoni of Northmarq’s Pacific Northwest Commercial Investment Sales team represented the local private seller in the transaction. New York City-based Curbline Properties was the buyer.

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North Madison Corners
AlabamaInvestment salesNews

Montana Property Group Acquires 73,600-Square-Foot Retail Center in Huntsville, Alabama, for $12.5 Million

by Abby Cox

Huntsville, Ala. — New York City-based Montana Property Group (MPG) has acquired North Madison Corners, a 73,600-square-foot retail center located in Huntsville, for $12.5 million. Originally built in 2005, the center features a mix of eight tenants including Marshalls, Michaels, H&R Block, pOpshelf, European Wax Center, Massage Envy, Grill & Smoke BBQ Store and Pizza Hut. MPG’s Huntsville retail portfolio now totals 350,000 square feet. The seller was RAP Properties.

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