Investment sales

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FloridaInvestment salesNews

Orion Acquires 10,174-Square-Foot Walgreens-Occupied Building in Key West, Florida

by Hayden Spiess

Key West, Fla. —Orion Buying Corp. has acquired a 10,174-square-foot property located in Key West for $5.3 million. Walgreens occupies the building, which formerly housed the historic Strand Theater and also includes two residential apartments. Kevin Sanz of Orion Real Estate Group represented Orion Buying Corp., which is comprised of entities doing business as Limestone Ruby Raleigh LLC, Limestone Ruby Loganville LLC and Limestone Ruby Lithia Springs LLC. Brian Pfohl of CBRE represented the seller, Walgreens Co. Ocean Bank is providing financing for the transaction. 

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Investment salesNewsTexas

STRIVE Arranges Sale of 13,910-Square-Foot Retail Strip Center in Arlington, Texas

by Hayden Spiess

Arlington, Texas —STRIVE has arranged the sale of College Crossing, a 13,910-square-foot retail strip center located in Arlington. Hudson Lambert of STRIVE represented the seller and procured the buyer in the transaction. The center was fully leased at the time of sale to tenants including Caress Dental, Soleil Cutz, Crown’s BBQ and Foxi Nails.

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Lake-Pointe_Rowlett-Texas
Investment salesNewsTexas

Phillips Edison Acquires 40,589-Square-Foot Retail Center in Metro Dallas

by Hayden Spiess

Rowlett, Texas — Phillips Edison has acquired Lake Pointe Market, a 40,589-square-foot retail center located in the Dallas suburb of Rowlett. Tenants at the property, which was 97 percent leased at the time of sale, include PetCo, DCP Equity Partners, Burger Island, OneMain Financial, Bank of America, Verizon and SuperCuts. Adam Howells, Chris Gerard and Megan Babovec of JLL represented the seller, Main Street Investment Co., in the transaction. 

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Grocery-anchoredInvestment salesNewsWisconsin

Marcus & Millichap Brokers $14.9 Million Sale of Shopping Center in Waukesha, Wisconsin

by Hayden Spiess

Waukesha, Wis. — Marcus & Millichap has brokered the $14.9 million sale of a 112,010-square-foot shopping center in Waukesha, a western suburb of Milwaukee. Sendek’s Grocery Store anchors the property. Other tenants include Walgreens, McDonald’s and Cost Cutters. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an undisclosed limited liability company. The team also procured and represented the buyer, a Michigan-based limited liability company.

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Deertrace-Kohler
Investment salesNewsWisconsin

Mid-America Arranges Sale of 171,366-Square-Foot Shopping Center in Kohler, Wisconsin

by Hayden Spiess

Kohler, Wis. — Mid-America Real Estate Corp. has arranged the sale of Deertrace Kohler, a 171,366-square-foot shopping center in Kohler, a northern suburb of Milwaukee. Tenants at the center, which is managed by Pine Tree, include T.J. Maxx, HomeGoods, Sierra Trading Post, Dollar Tree, Spectrum, Bath & Body Works, U.S. Cellular, Mattress Firm and JoAnn. Rick Drogosz and Dan Rosenfeld of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Chase Properties acquired the property for an undisclosed price. 

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Grocery-anchoredInvestment salesNewsVirginia

Kimco Realty Purchases Stonebridge at Potomac Town Center in Metro D.C. for $172.5 Million

by Hayden Spiess

Woodbridge, Va. — Kimco Realty has purchased Stonebridge at Potomac Town Center, a 504,000-square-foot shopping center located in the Washington, D.C., suburb of Woodbridge, for $172.5 million. A 138,500-square-foot Wegmans anchors the property, which was 96 percent leased at the time of sale. Tenants at the center include REI, Ulta Beauty, Starbucks Coffee, Cava, Firebirds Wood Fired Grill, Alamo Drafthouse Cinema and Apple Store, as well as boutique fitness, service and medical retailers. Kimco is exploring redevelopment opportunities at Stonebridge at Potomac Town Center, including three retail outparcels and adding mixed-use …

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FloridaInvestment salesNews

Limestone, Orion Purchase Two Walgreens-Leased Properties in Florida for $15.6 Million

by Hayden Spiess

Hialeah and Miami, Fla. — Limestone Asset Management and Orion Real Estate Group, doing business as Limestone Wells, have purchased two single-tenant, Walgreens-leased properties in Florida for $15.6 million. Located in Miami and Hialeah, the properties total 17,909 square feet and 14,490 square feet, respectively. Kevin Sanz of Orion represented the buyers in the all-cash transaction. Brian Pfohl of CBRE represented the seller, Walgreens Co. 

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Starbucks_Fresno-Calif
CaliforniaInvestment salesNews

Hanley Brokers $3.2 Million Sale of Single-Tenant Property in Fresno, California

by Hayden Spiess

Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million sale of a single-tenant property located in Fresno. Starbucks Coffee occupies the newly constructed, 2,250-square-foot building. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Laguna Canyon Group, in the transaction. Patrick Conway of CBRE represented the buyer, a locally based private investor. 

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Company newsInvestment salesNew YorkNews

Retail REIT Merger: Kimco Realty to Acquire RPT Realty for $2 Billion in All-Stock Transaction

by Hayden Spiess

Jericho and New York City, N.Y. — Kimco Realty (NYSE: KIM) has entered into a definitive merger agreement with RPT Realty (NYSE: RPT) under which Kimco will acquire RPT Realty in an all-stock transaction. Both REITs are based in New York — Kimco in Jericho and RPT in Manhattan — and own and operate open-air and grocery-anchored shopping centers, as well as mixed-use assets. Kimco valued the transaction at approximately $2 billion, including the assumption of debt and preferred stock. The merger will add 56 open-air shopping centers, including 43 wholly …

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Rockwall-Market_Rockwall-Texas
Investment salesNewsTexas

JLL Arranges Sale of 211,971-Square-Foot Retail Center in Metro Dallas

by Hayden Spiess

Rockwall, Texas — JLL Capital Markets has arranged the sale of Rockwall Market, a 211,971-square-foot retail center located in the Dallas suburb of Rockwall. Built in 1999, the property was fully leased at the time of sale. Tenants at the center include Ross Dress for Less, Burkes Outlet, Michaels, Old Navy and Petco. Adam Howells, Ryan Shore and Megan Babovec of JLL represented the undisclosed seller in the transaction. Dunhill Partners acquired the property. 

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