Oak Lawn, Ill. — A joint venture between Core Acquisitions and T2 Capital Management has sold a fully leased two-tenant retail center located in the Chicago suburb of Oak Lawn. Chicago Title and Hassleless Mattress occupy the center. A California-based buyer acquired the property, which recently underwent a full renovation, for $2.1 million. Chad Firsel and Brett Berlin of Quantum Real Estate Advisors represented the seller in the transaction.
Gilbert, Ariz. — Phoenix Commercial Advisors has negotiated the $19.5 million sale of Chandler Heights Village, a shopping center located in Gilbert, roughly 22 miles outside Phoenix. Totaling 50,763 square feet, Chandler Heights Village was fully leased at the time of sale. Tenants at the center include Papa John’s, Leslie’s, Edward Jones, Jersey Mike’s Subs and Phoenix Children’s Academy. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.
South Jordan, Utah —Partners Real Estate has arranged the acquisition of a retail store located in South Jordan, a suburb of Salt Lake City. JCPenney occupies the 99,215-square-foot property. Dimitri Jordan of Partners Real Estate represented the buyer in the deal.
Los Angeles — Hanley Investment Group Real Estate Advisors has brokered the $3.3 million sale of a single-tenant property located in Los Angeles. Starbucks Coffee occupies the 1,486-square-foot building, which was built in 2017 on a 0.3-acre parcel, on a triple-net-lease basis. Jeff Lefko and Bill Asher of Hanley represented the seller in the transaction. Ryan Sharpe of Kidder Matthews represented the buyer.
Phoenix — Phoenix Commercial Advisors has arranged the $20.5 million sale of Laveen Commons, a 12.1-acre retail center located in Phoenix. Totaling 102,083 square feet across four buildings, the property was fully leased at the time of sale. Tenants at the center include Big Lots, Big 5 Sporting Goods, Ace Hardware and 99 Cents Only. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.
Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …
Newport Beach, Calif. — Graystone Capital Advisors has brokered the $18 million sale of a 5,700-square-foot retail building located in Newport Beach. Constructed in 1973, the property is situated on a 0.3-acre parcel with 75 feet of water frontage and views of Newport Harbor and the Pacific Ocean. Matthew Hardke of Graystone secured the buyer, an entity doing business as 2406 LLC, and arranged acquisition financing. James Boys LLC was the seller.
Midlothian, Texas — Younger Partners Investments (YPI) has acquired Midlothian Towne Crossing, a 147,161-square-foot retail center located in Midlothian, roughly 25 miles south of Dallas. Kroger anchors the property, which was 99 percent leased at the time of sale. Other tenants include Ross Dress for Less, Burkes Outlet, JOANN Fabric and Crafts, Petco, Ulta Beauty and Famous Footwear. Out-lot parcels at the center feature restaurants including Chick-fil-A, McDonald’s and Chili’s.
Saddle Brook, N.J. — JLL Capital Markets has brokered the $16.1 million sale of a 62,504-square-foot single-tenant property located in Saddle Brook, roughly 20 miles outside New York City. ACME Markets occupies the building, which was constructed in 1998. The Winter Organization acquired the property. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Austin Pierce of JLL represented the seller, Vision Real Estate Partners, in the transaction.
LaGrange, Ga. — Zach Taylor of Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $16 million sale of a newly built shopping center located in LaGrange. Publix anchors the property, with a 10-year lease on the store. Taylor represented the seller, an Atlanta-based developer, in the transaction and procured the 1031 exchange buyer.
