Omaha, Neb. — Marcus & Millichap has brokered the $7 million sale of Plaza Q36, an 81,592-square-foot retail center located in Omaha. The property was fully leased at the time of sale. Alex Perez of Marcus & Millichap represented the seller, a limited liability company, in the transaction, with assistance from Jon Ruzicka, the firm’s broker of record in the state.
Tamarac, Fla. — Marcus & Millichap has brokered the $14.8 million sale of University Commons, an 80,224-square-foot shopping center located in Tamarac. Quince Supermarket anchors the property. Other tenants include Dunkin’ Donuts, Quest Diagnostics and Tire Choice. The buyer, an undisclosed New York-based private investor, purchased the center from a private investment firm based in Miami. Drew Kristol and Kirk Olson of Marcus & Millichap represented the seller in the transaction.
Northfield, Ill. — JLL Capital Markets has arranged the $13.1 million sale of a 47,732-square-foot property located in Northfield, roughly 20 miles outside Chicago. Mariano’s occupies the single-tenant property on a triple-net-lease basis. Alex Sharrin, Michael Nieder, Mohsin Mirza, Charles Shehan and Caity Tirakian of JLL represented the seller, Stockbridge, in the transaction. Swanson Development Group was the buyer. Mariano’s currently operates 44 grocery stores throughout the state. The chain was acquired by Kroger via its parent company, Roundy’s, in 2015.
Chester, Va. — Colliers has brokered the $5.4 million sale of two outparcels at Bermuda Square, a shopping center located in the Richmond suburb of Chester. The properties include a multi-tenant space leased to Aspen Dental and Sleep Number and a single-tenant property occupied by Chipotle Mexican Grill. Separate buyers acquired the properties for $4 million and $1.4 million, respectively. Michael Brewster and Brad Peterson of Colliers represented the undisclosed seller in the transactions, with assistance from Jay O’Donnell and Jeff Fritz of Colliers.
Milford, Conn. — Private equity firm Roark Capital has entered into a definitive agreement with Subway to acquire the Milford-based restaurant chain. The price was not disclosed, but according to CNBC, Subway previously sought $10 billion, and The Wall Street Journal reported on Monday that Roark offered $9.6 billion. According to CNBC, other bidders reportedly included TDR Capital and Sycamore Partners. Founded more than 50 years ago by Peter Buck and Fred DeLuca, Subway boasts 36,592 restaurants globally, according to the company website. Market-research firm Technomic has reported that the chain garnered $9.8 billion in domestic sales …
Panama City, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.1 million sale of Bay City Point, a 121,413-square-foot shopping center located in Panama City. Tenants at the property include Hobby Lobby, Burlington, Five Below, Sketchers and Ulta Beauty. Zach Taylor of IPA represented the seller, Ledbetter Properties, in the transaction.
North Wilkesboro, N.C. — Legacy Realty Group Advisors has arranged the sale of North Park Centre, a 38,500-square-foot shopping center located in North Wilkesboro. Food Lion anchors the property. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction.
Vacaville, Calif. — JLL Capital Markets has brokered the $29.2 million sale of Power Plaza, a 112,250-square-foot retail center located in Vacaville, approximately 30 miles outside Sacramento. Built in 1993 and 1994, the property was 96 percent occupied at the time of sale. Sprouts Farmers Market anchors the center. Other tenants include Restoration Hardware Outlet, Williams Sonoma Home Outlet, Pacific Dental Services, The Good Feet Store and Banfield Pet Hospital. Eric Kathrein, Tim Kuruzar, Warren McClean and Andy Spangenberg of JLL represented the seller, ProEquity Asset Management. DPI Retail acquired the …
Walnut Creek, Calif. — Newmark has negotiated the sale of Midtown Plaza, a 24,867-square-foot retail center located in Walnut Creek. The property was fully leased at the time of sale to tenants including Galpao Gaucho Brazilian Steakhouse and Premier Bath & Kitchen. Nicholas Bicardo, Rick Steffens and Cheyne Bloch of Newmark represented the undisclosed seller in the transaction. L&B Realty Advisors represented the buyer, an institutional client.
Happy Valley, Ore. — CBRE has arranged the sale of a 146,888-square-foot property located in Happy Valley, a suburb of Portland. Formerly occupied by Sears, the building is physically attached to the adjacent Clackamas Town Center mall, which totals 1.4 million square feet. Dick’s Sporting Goods partially backfilled the property in 2019 and opened in 2020 following the departure of Sears in 2018. The remainder of the building, including two 15,000-square-foot ground-level spaces and a 64,000-square-foot upper-level space, remains vacant. Dino Christophilis and Daniel TIbeau of CBRE represented the undisclosed seller …
