Investment sales

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Grocery-anchoredInvestment salesNewsTexas

Marcus & Millichap Arranges Sale of 156,343-Square-Foot Retail Center in Houston

by Hayden Spiess

Houston — Marcus & Millichap has arranged the sale of Shoppes at Kingsgate, a 156,343-square-foot retail center located in Houston. Built in 1980 and renovated in 2013, the center was 95 percent occupied at the time of sale. Aldi anchors the property, which is situated within the Kingwood master-planned community. Other tenants include Cell Doc, Binh’s Tailor, Trademark Kitchen & Bath, The Mint National Bank, Schlotzky’s and On the Park Toy Store. Philip Levy and Chris Gainey of Marcus & Millichap represented the seller in the transaction. 

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CaliforniaInvestment salesNet leaseNewsRestaurants

JLL Capital Markets Negotiates $3.3 Million Sale of Single-Tenant Restaurant Property Metro San Francisco

by Hayden Spiess

San Rafael, Calif. — JLL Capital Markets has negotiated the $3.3 million sale of a single-tenant building located in San Rafael, roughly 20 miles outside San Francisco. El Pollo Loco, a fast-casual restaurant chain, occupies the 2,626-square-foot building on a triple-net-lease basis, with 13 years remaining on the lease. Eric Kathrein and Warren McClean of JLL brokered the transaction. El Pollo Loco occupies the building in San Rafael, California. 

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IllinoisInvestment salesNews

Marcus & Millichap Brokers $3.9 Million Sale of Retail Center in Springfield, Illinois

by Hayden Spiess

Springfield, Ill. — Marcus & Millichap has brokered the $3.9 million sale of Springfield Commons, a retail center in Springfield. The property totals 15,680 square feet. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Steven Weinstock assisted in closing the sale as Marcus & Millichap’s Illinois broker of record. 

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CaliforniaInvestment salesNews

JLL Arranges Leases Totaling 53,000 Square Feet at Blackhawk Plaza in Metro San Francisco

by Hayden Spiess

Danville, Calif. — JLL has arranged three leases totaling 53,000 square feet at Blackhawk Plaza, a 250,000-square-foot retail center located in Danville, roughly 30 miles outside San Francisco. Combat Sports Academy, Apple Cinemas and OsteoStrong will occupy 26,000; 26,200; and 1,530 square feet, respectively. The new tenants are scheduled to open at the property in 2024. Other tenants at the center include Gameday VR, Starbunni Arcade and Posh Nail Bar. JLL represented the landlord, Ramanujan Group, in the lease negotiations, as well as Combat Sports Academy. Jeff Badstubner and Justin Choi …

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Investment salesNewsNorth Carolina

Tanger Acquires 382,000-Square-Foot Asheville Outlets in North Carolina for $70 Million

by Hayden Spiess

Asheville, N.C. — Tanger has purchased Asheville Outlets, a 382,000-square-foot retail development located in Asheville. Sportsman’s Warehouse and a separately owned Dillard’s Clearance Center anchor the property, which was 95 percent leased at the time of sale. Other tenants include Nike, Under Armour, RH, Bath & Body Works, Crate & Barrel and West Elm. Tanger acquired the outlet mall from New England Development for $70 million. This property marks Tanger’s 38th outlet mall and the second addition to its holdings this quarter, following the opening of Tanger Outlets Nashville last month. New …

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IllinoisInvestment salesNews

Mid-America Arranges Sale of 317,006-Square-Foot Shopping Center in Metro Chicago

by Hayden Spiess

Crystal Lake, Ill. — Mid-America Real Estate Corp. has arranged the sale of Crystal Point Shopping Center, a 317,006-square-foot shopping center located in Crystal Lake, a suburb of Chicago. Tenants at the property, which was 87 percent occupied at the time of sale, include T.J. Maxx, Best Buy, Ross Dress for Less, The Fresh Market, Ulta Beauty, Steinhafels Furniture and Cost Plus World Market. PMAT Real Estate Investments acquired the center for an undisclosed price. Ben Winmena, Rick Drogosz and Joe Girardi of Mid-America brokered the transaction on behalf of the …

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CaliforniaInvestment salesNews

Graystone Brokers $5 Million Sale of Retail Center in Fresno, California 

by Hayden Spiess

Fresno, Calif. — Graystone Capital Advisors has brokered the $5 million sale of California Plaza, a retail center located in Fresno. Built in 1987, the property comprises 39,170 square feet situated on a 194,182-square-foot parcel. The center was 38 percent leased at the time of sale. Brent Zoller and Brenton Baskin of Graystone represented the seller and procured the buyer. 

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Investment salesNewsTexas

STRIVE Arranges Sale of 4,797-Square-Foot Gas Station Property in Grapevine, Texas

by Hayden Spiess

Grapevine, Texas — STRIVE has arranged the sale of a 4,797-square-foot gas station property located in Grapevine. QuikTrip occupies the property, which was built in 2010. Michael Crovetti and Adam Gottschalk of STRIVE represented the seller, a Kansas-based investor, in the transaction and procured the buyer, a Texas-based investor. 

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ArizonaInvestment salesNews

Colliers Arranges Sale of 89,389-Square-Foot Retail Center in Phoenix

by Hayden Spiess

Phoenix — Colliers has arranged the sale of South Mountain Crossing, an 89,389-square-foot retail center located in Phoenix. ACP Management acquired the property. Tenants at the center include SkyZone Trampoline Park, Goodwill and Kids Empire. Mindy Korth, JK Jackson, El Warner and Caitlin Zirpolo of Colliers represented the seller, Lamar Cos., in the transaction. 

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IllinoisInvestment salesNews

Marcus & Millichap Brokers $10.2 Million Sale of Shopping Center in Streamwood, Illinois

by Hayden Spiess

Streamwood, Ill. — Marcus & Millichap has brokered the $10.2 million sale of Westview Center, a 114,735-square-foot shopping center located in Streamwood, a northwest suburb of Chicago. Tenants at the property, which was fully leased at the time of sale, include AutoZone, Dollar Tree, Oak Street Health, Chuck E. Cheese, American Freight and H&R Block. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a limited liability company. Mark Ruble, Chris Lind and Brennan Clegg of Marcus & Millichap represented the buyer, a Midwest-based private investment group. 

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