Investment sales

Promenade-North-Shopping-Center_Richardson-Texas
Investment salesNewsTexas

2GR Equity, SHOP Development Acquire 177,000-Square-Foot Shopping Center in Metro Dallas

by Hayden Spiess

Richardson, Texas — A joint venture between 2GR Equity and SHOP Development has acquired Promenade North Shopping Center, a 177,000-square-foot retail center located in the northeastern Dallas suburb of Richardson. Tenants at the property, which was 70 percent leased at the time of sale, include Verizon Wireless, Papa Murphy’s and WingStop. The new ownership plans to implement a value-add program that will include landscape and parking lot improvements, along with new paint, LED lighting and signage upgrades.

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Crunch-Fitness_Winter-Park-Fla
FloridaInvestment salesNet leaseNews

SRS Brokers $7.7 Million Sale of Single-Tenant Property in Orlando Suburb 

by Hayden Spiess

Winter Park, Fla. — SRS Real Estate Partners has brokered the $7.7 million sale of a 29,987-square-foot single-tenant retail property located in Winter Park, a suburb of Orlando. Crunch Fitness occupies the property, which is situated on 3.7 acres, on a 15-year triple-net lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based investment and development group, in the transaction. The buyer was a Florida-based private investor.

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Aventura-Plaza
FloridaInvestment salesMixed-useNews

Cushman & Wakefield Arranges Sale of 89,883-Square-Foot Mixed-Use Property in Aventura, Florida

by Hayden Spiess

Aventura, Fla. — Cushman & Wakefield has arranged the sale of Aventura Plaza, an 89,883-square-foot mixed-use property in Aventura, a suburb of Miami. The property, which was 92 percent leased at the time of sale, comprises a shopping center and a two-story office building. Tenants at the center include Ace Hardware and a recently opened grocery store, Plum Market, that replaced a former Office Depot. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an entity doing business as Aventura Plaza Partners, which has owned and …

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ArizonaInvestment salesNews

DIG Brokers Sale of 398,602-Square-Foot Retail Center in Arizona

by Hayden Spiess

Yuma, Ariz. — Disney Investment Group (DIG) has brokered the sale of Yuma Palms Regional Center, a 398,602-square-foot retail center located in Yuma. The property was leased to 49 tenants at the time of sale. Retailers at the property include Ross Dress for Less, Marshalls, PetSmart, Michaels, Five Below, Old Navy, Ulta Beauty and Harkins Theatre at the time of sale. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the buyer, Bridge33, in the transaction. 

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Investment salesNevadaNews

Cooper Commercial Arranges $2.3 Million Sale of Single-Tenant Property in Las Vegas 

by Hayden Spiess

Las Vegas — The Cooper Commercial Investment Group has arranged the $2.3 million sale of a single-tenant retail property located in Las Vegas. AutoZone occupies the building, which is situated on an outparcel to a Walmart-anchored shopping center. Dan Cooper of Cooper Commercial represented the seller, a Florida-based private investment group, in the transaction. AutoZone recently signed a new 15-year lease, with roughly 14 years remaining. 

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Walla-Walla-Town-Center-WA
Investment salesNewsWashington

Alamo Group, Covenant Real Estate Acquire 120,169-Square-Foot Shopping Mall in Walla Walla, Washington 

by Hayden Spiess

Walla Walla, Wash. — Alamo Group and Covenant Real Estate Group have acquired Walla Walla Town Center, a 120,169-square-foot shopping mall situated on 31 acres in Walla Walla. Tenants at the property, which was 93 percent occupied at the time of sale, include Planet Fitness, Burlington, Ross Dress for Less, Marshall’s, PetSmart, Ulta Beauty, Hobby Lobby, Famous Footwear and Sportsman’s Warehouse. Formerly known as Blue Mountain Mall, the property was redeveloped and reopened as Walla Walla Town Center in 2018. Christopher Edwards, Clayton Brown and Ruthanne Loar of Marcus & Millichap …

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Grocery-anchoredInvestment salesMinnesotaNews

Hanley Brokers $11.9 Million Sale of Retail Center in Metro Minneapolis

by Hayden Spiess

Brooklyn Park, Minn. — Hanley Investment Group Real Estate Advisors has brokered the $11.9 million sale of Edinburgh Festival Centre, a retail center located in Brooklyn Park, roughly 11 miles outside Minneapolis. A 54,476-square-foot Festival Foods anchors the 91,563-square-foot property. Other tenants at the center, which was built in 1996, include Dollar Tree, Caribou Coffee, Dairy Queen, Jackson Hewitt Tax Service, Kumon Reading and Math Center and State Farm Insurance. Bill Asher and Jeff Lefko of Hanley, in association with ParaSell Inc., represented the seller, LS Capital, in the transaction. The …

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Merchants-Square_Carmel-Ind
IndianaInvestment salesNews

Big V Acquires 232,284-Square-Foot Retail Center in Indianapolis Suburb

by Hayden Spiess

Carmel, Ind. — Big V Property Group, with partner Equity Street Capital, has acquired Merchants’ Square, a 232,284-square-foot retail center located in the Indianapolis suburb of Carmel. Tenants at the property include Planet Fitness, Flix Brewhouse, Cost Plus World Market, Petco and Dollar Tree. This marks Big V’s first acquisition in the Indianapolis market. 

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Eastwood-Village_Birmingham
AlabamaInvestment salesNews

IPA Brokers $17.6 Million Sale of Eastwood Village Retail Center in Birmingham, Alabama

by Hayden Spiess

Birmingham, Ala. —Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $17.6 million sale of Eastwood Village, a 130,056-square-foot shopping center in Birmingham. A Walmart, not included the transaction, anchors the center. Tenants at the property include Ross Dress for Less, Office Depot, Michaels and Party City. Zach Taylor of IPA represented the seller, a partnership based in Louisiana, in the transaction and sourced the buyer, a private syndicator based in California that paid all-cash.

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FloridaGrocery-anchoredInvestment salesNews

Graphite Real Estate Purchases Publix-Anchored Shopping Center in Metro Tampa for $9.9 Million

by Hayden Spiess

Holiday, Fla. — Graphite Real Estate has purchased Holiday Centre, a 67,035-square-foot shopping center located in Holiday, a northern suburb of Tampa. Graphite acquired the property for $9.9 million. Publix anchors the center, which was 98 percent leased at the time of sale. Other tenants include Planet Fitness, Publix Liquors and Bright Now Dental. Ari Ravi of RIPCO Investment Sales represented the undisclosed seller in the transaction, and RGA Reinsurance Co. originated acquisition financing on behalf of Graphite.

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