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Investment sales

Goodnoe's Corner
Grocery-anchoredInvestment salesNewsPennsylvania

Marcus & Millichap Brokers Sale of Two Retail Centers Totaling 122,365 Square Feet in Metro Philadelphia

by Abby Cox

Newtown and Bensalem, Pa. — Marcus & Millichap has brokered the sale of two retail centers in Pennsylvania totaling 122,365 square feet. The properties include Goodnoe’s Corner in Newtown and Village Center in Bensalem. Goodnoe’s Corner — originally built in 2008 — totals 34,660 square feet. Tenants at the property include AT&T Wireless, Madison Dental, Jule’s Thin Crust, Firstrust Bank, Apple Cleaners and Green Parrot Restaurant. Originally constructed in 1976 and renovated in 1999, Village Center is anchored by Acme Markets and comprises 87,705 square feet. Other tenants at the …

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Investment salesMassachusettsNews

Atlantic Capital Partners Arranges Sale of 71,297-Square-Foot Shopping Center in North Attleboro, Massachusetts

by Abby Cox

North Attleboro, Mass. — Atlantic Capital Partners has arranged the $18 million sale of Lantern Plaza, a 71,297-square-foot shopping center located in North Attleboro, approximately 38 miles southwest of Boston. Renovated in 2018, supermarket chain Stop & Shop has anchored and leased the property since 1993; the center now also houses Asian restaurant New Shogun. Justin Smith, Chris Peterson, Sam Koonce and Danielle Turpin of Atlantic Capital Partners represented the seller in the transaction. Additional terms of the sale were not disclosed.

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Dellagio Town Center
FloridaInvestment salesNews

CORE Acquires 109,489-Square-Foot Retail Center in Orlando, Florida

by Abby Cox

Orlando, Fla. — Core Investment Management (CORE) has acquired Dellagio Town Center, a 109,489-square-foot mixed-use retail center in Orlando, for $37.5 million. Located along the Dr. Phillips retail corridor, the multi-tenant center features 30 different brands including AdventHealth Medical Group, Nola’s Ice Cream, Fleming’s Prime Steakhouse & Wine Bar, Fred Astaire Dance Studios and Fifth Third Bank. CORE plans to enhance the property with an improved tenant mix and aesthetic renovations.

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Northland Square
Investment salesIowaNews

Hanley Investment Brokers Sale of 106,500-Square-Foot Shopping Center in Cedar Rapids, Iowa

by Abby Cox

Cedar Rapids, Iowa — Hanley Investment Group has brokered the $17.5 million sale of Northland Square, a 106,500-square-foot shopping center located in Cedar Rapids. Built in 1994 and renovated in 2000, the center is situated on roughly 10 acres. The property was fully leased at the time of sale to a mix of national retailers including T.J. Maxx, Barnes & Noble, OfficeMax, Old Navy, Famous Footwear and Hallmark. Jeff Lefko and Bill Asher of Hanley Investment Group, in association with ParaSell Inc., represented the seller, a Midwest-based private partnership, in …

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Brentwood Place Shopping Center
Investment salesNewsTennessee

Regency Centers Acquires 320,000-Square-Foot Retail Center in Brentwood, Tennessee

by Abby Cox

Brentwood, Tenn. — Regency Centers has acquired Brentwood Place Shopping Center, a 318,952-square-foot retail center located in the Nashville suburb of Brentwood. According to the Nashville Business Journal, the center sold for $118.5 million. The property — which is 95 percent leased — comprises more than 100,000 square feet of retail space. Retailers such as Nordstrom Rack, Total Wine & More, T.J. Maxx/HomeGoods and Golf Galaxy anchor the center. Brentwood Place is adjacent to the site of the future 350,000-square-foot Vanderbilt Medical Campus. Jim Hamilton and Brad Buchanan of JLL …

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Pavilions at San Mateo
Grocery-anchoredInvestment salesNew MexicoNews

Faris Lee Investments Brokers $24.9 Million Sale of Retail Center in Albuquerque, New Mexico

by Abby Cox

Albuquerque, N.M. — Faris Lee Investments has brokered the $24.9 million sale of Pavilions at San Mateo, a 148,749-square-foot retail center in Albuquerque. Originally built in 1997, the center is 92 percent leased and anchored by Walmart Neighborhood Market. Additional tenants at the property include Old Navy, Shoe Dept., Dollar Tree, Einstein Bros. Bagels, Supercuts and Orangetheory Fitness. Don MacLellan, Jeff Conover and Scott DeYoung of Faris Lee Investments represented the buyer, Las Vegas-based Rhino Investments Group, in the transaction.

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Architecture and DesignDevelopmentFloridaInvestment salesMixed-useNews

Ardent Acquires 1.1 Million-Square-Foot Seminole Towne Center Mall in Florida, Plans Redevelopment

by Abby Cox

Sanford, Fla. — Atlanta-based The Ardent Co. (Ardent) has acquired Seminole Towne Center Mall, a 1.1 million-square-foot regional mall located in Sanford, with plans to develop the property into a mixed-use development. According to several local media outlets, Ardent purchased the center from Hollywood, Florida-based 4th Dimension Properties for roughly $17.5 million. While plans for the 76-acre property will include the addition of new retailers, multifamily housing and a hotel, the center’s four anchor tenants — Dillard’s, JCPenney, Dick’s Sporting Goods and Elev8 — will remain at the property. The …

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Centre Point Plaza
Investment salesNewsNorth Carolina

Legacy Realty Group Arranges Sale of 159,259-Square-Foot Retail Center in Smithfield, North Carolina

by Abby Cox

Smithfield, N.C. — Legacy Realty Group Advisors has arranged the sale of Centre Pointe Plaza, a 159,259-square-foot retail center in Smithfield, approximately 30 miles southeast of Raleigh. An undisclosed buyer purchased the property for $11.6 million. Originally built in 1989, the shopping center is anchored by Belk. Additional tenants at the property include Bealls, Dollar Tree, Hibbett Sports, Subway and T-Mobile. Daniel Baruch of Legacy Realty Group represented the buyer. Steve Shields of CBRE represented the undisclosed seller in the transaction.

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CaliforniaGrocery-anchoredInvestment salesNews

Westar Associates Sells 96,390-Square-Foot Shopping Center in Monrovia, California

by Abby Cox

Monrovia, Calif. — Newport Beach, California-based Westar Associates has sold Foothill Park Plaza, a 96,390-square-foot shopping center located in Monrovia, approximately 15 miles northeast of Los Angeles. The center — which was developed in 1985 — is anchored by Vons Supermarket. Other tenants at the property include Chase Bank, Wendy’s, Blaze Pizza, Baskin-Robbins and See’s Candles. Pete Bethea, Rob Ippolito and Glen Rudy of Newmark represented Westar Associates in the transaction. Phillips Edison & Company was the buyer. Westar Associated has owned, leased and managed Foothill Park Plaza for the last …

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Hatchery Hill Towne Center
Grocery-anchoredInvestment salesNewsWisconsin

Mid-America Real Estate Brokers Sale of 85,880-Square-Foot Retail Property in Fitchburg, Wisconsin

by Abby Cox

Fitchburg, Wis. — Mid-America Real Estate Corp. has brokered the sale of Hatchery Hill Towne Center, an 85,880-square-foot retail property located in the Madison suburb of Fitchburg. The center — which was fully leased at the time of sale — is shadow-anchored by Pick ‘n Save. Additional tenants at the property include Panera Bread, Verizon Wireless, Cold Stone Creamery, MOD Pizza, Great Dane Pub & Brewing Co., Anytime Fitness, Kim’s Nails and Tabby & Jack’s Pet Supplies. Rick Drogosz and Dan Rosenfeld of Mid-America Real Estate Corp. represented the seller, …

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