Investment sales

NewMark Merrill Acquires Two Retail Centers Totaling 178,042 Square Feet in Chicago

by Hayden Spiess October 26, 2023

Chicago — NewMark Merrill Cos. has acquired two retail centers totaling 178,042 square feet in Chicago in separate transactions. The first property, Pulaski Promenade, comprises 122,710 square feet situated on 10.5 acres. Tenants at the center, which was fully leased at the time of sale, include Marshalls, Shoe Carnival, Michaels, Ross Dress for Less, PetSmart, Ulta Beauty and Carter’s. NewMark purchased the property from DRA/Pine Tree. NewMark acquired the second retail center, Midway Square, from TRC Retail. Midway Square features 55,332 square feet and was 92 percent leased at the time …

October 26, 2023

Investment sales News Washington

HDA Partners Acquires Retail Center in Metro Portland for $3.6 Million

by Hayden Spiess October 24, 2023

Vancouver, Wash. — HDA Partners has purchased Y Plaza, a 22,000-square-foot retail center in Vancouver, roughly 10 miles north of Portland, for $3.6 million. Deborah Ewing of Fuller Group Commercial Real Estate Services represented the seller, Slosar Properties, in the transaction. Eric Garske of Marcus & Millichap represented HDA.

October 24, 2023

Florida Grocery-anchored Investment sales News

CBRE Brokers $49.3 Million Sale of Shopping Center in Miami

by Hayden Spiess October 23, 2023

Miami — CBRE has brokered the $49.3 million sale of Trail Plaza, a 181,558-square-foot shopping center located in Miami. Built in 1987, the property was 99 percent leased at the time of sale. Tenants at the center include Fresco y Más, Walgreens, Harbor Freight Tools and Party Depot. Casey Rosen and Dennis Carson of CBRE represented the undisclosed seller in the transaction. An entity controlled by Longpoint Realty Partners acquired the property.

October 23, 2023

Grocery-anchored Investment sales Nevada News

Newcastle Properties Buys 90,373-Square-Foot Shopping Center in Las Vegas

by Hayden Spiess October 23, 2023

Las Vegas — Newcastle Properties has purchased a 90,373-square-foot retail center located in the Summerlin area of Las Vegas. Whole Foods Market anchors the property. Other tenants at the center include Five Guys Burgers and Fries, Blaze Pizza, Firehouse Subs and FedEx Office.

October 23, 2023

California Grocery-anchored Investment sales News

Hanley Arranges Acquisition of Five Outparcels Totaling 25,916 Square Feet in Southern California

by Hayden Spiess October 23, 2023

Riverside, Calif. — Hanley Investment Group Real Estate Advisors has arranged the acquisition of five retail outparcels located at Citrus Landing, a 124,904-square-foot retail center in Riverside. Tenants at the outparcels, which total 25,916 square feet, include Carl’s Jr., Quick Quack Car Wash, Arrowhead Credit Union, Panda Express, Café Bottega, Pacific Dental, and Chick-fil-A, which is scheduled to open next year. Stater Bros. anchors Citrus Landing, which was fully occupied at the time of sale. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the 1031-exchange buyers in the transaction. …

October 23, 2023

California Investment sales News

Sedaka Acquires 7,424-Square-Foot Retail Property in Oceanside, California

by Hayden Spiess October 23, 2023

Oceanside, Calif. — Sedaka Investment Partners has acquired a 7,424-square-foot retail property located in Oceanside. The property was fully leased to four tenants at the time of sale. Sedaka purchased the property from an undisclosed seller for $2.7 million.

October 23, 2023

Company news Entertainment Investment sales Net lease New York News

VICI Acquires 38 Bowling Entertainment Centers for $432.9 Million

by Hayden Spiess October 20, 2023

New York City — VICI Properties Inc. has acquired 38 bowling entertainment centers from Bowlero Corp. in a sale-leaseback transaction for a total $432.9 million. Bowlero will now occupy the properties, which are located in 17 states, on a triple-net-lease basis. Initial annual rent for the lease will total $31.6 million. The deal also included an eight-year right of first offer term for VICI to purchase Bowlero real estate. J.P. Morgan acted as financial advisor to VICI in the transaction, and Hogan Lovells US LLP and Kramer Levin Naftalis & Frankel …

October 20, 2023

Investment sales Minnesota Net lease News

Cleeman Realty Group Brokers $5.1 Million Sale of Single-Tenant Property in Fairmont, Minnesota

by Hayden Spiess October 20, 2023

Fairmont, Minn. — Cleeman Realty Group has brokered the $5.1 million sale of a single-tenant property located in Fairmont. Hy-Vee occupies the 54,740-square-foot building on a triple-net-lease basis. Jeremy Scheer of Cleeman represented the undisclosed buyer in the transaction.

October 20, 2023

California Investment sales News

DP Vernon Retail Sells 14,000-Square-Foot Retail Center in Metro Los Angeles

by Hayden Spiess October 20, 2023

Vernon, Calif. — DP Vernon Retail has sold Vernon Shopping Center, a retail center located in Vernon, roughly 4 miles outside downtown Los Angeles. Built in 2017, the center totals 14,000 square feet and was 77 percent occupied at the time of sale. Current tenants include Jersey Mike’s Subs and Café Dulce. Wimatex Inc. acquired the property for an undisclosed price in a 1031 exchange. Chris Maling and David Maling of Avison Young represented DP in the transaction.

October 20, 2023

California Investment sales News

Brixton Capital Acquires 143,217-Square-Foot Shopping Center in California

by Hayden Spiess October 19, 2023

Stockton, Calif. — Brixton Capital has acquired Pacific Town Center, a 143,217-square-foot shopping center located in Stockton. Tenants at the property, which was 42 percent leased at the time of sale, include Smart & Final, Panda Express and Subway. The buyer plans to re-tenant spaces formerly occupied by Toys “R” Us and T.J. Maxx. Hanley Investment Group represented the undisclosed seller in the transaction.

October 19, 2023

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