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Investment sales

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GeorgiaGrocery-anchoredInvestment salesNewsTexasVirginia

Sterling Acquires $180.5 Million Shopping Center Portfolio 

by Hayden Spiess

West Palm Beach, Fla. — The West Palm Beach-based Sterling Organization has acquired a portfolio of three shopping centers for $180.5 million. The portfolio was purchased on behalf of the value add fund investment vehicle Sterling Value Add Partners IV L.P. ,and SITE Centers was the seller. The properties include Fairfax Towne Center in Fairfax, Virginia; Presidential Commons in Snellville, Georgia; and Village at Stone Oak in San Antonio.  Safeway anchors Fairfax Towne Center, which totals 253,392 square feet. Other tenants at the property include T.J. Maxx, Regal Cinemas and JOANN …

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Investment salesNewsTexas

Hanley Arranges Sale of 14,490-Square-Foot Single-Tenant Property in Houston Suburb

by Hayden Spiess

Spring, Texas — Hanley Investment Group Real Estate Advisors has arranged the sale of a 14,490-square-foot single-tenant property located in Spring, a suburb of Houston. Built in 2001, the building is situated within a Kroger-anchored shopping center. Walgreens occupies the property. Kevin Fryman, Garrett Wood and Ed Hanley of Hanley, in association with ParaSell Inc., represented the seller, a Houston-based private investor. Melissa Brams of Gerber Realty represented the buyer, a Louisiana-based private investor. 

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Investment salesNew YorkNews

Nouvini Property Investments Buys Long Island Retail Property for $3 Million 

by Hayden Spiess

Greenlawn, N.Y. — New York-based Nouvini Property Investments has purchased a retail property in the Long Island community of Greenlawn for $3 million. According to LoopNet Inc., the 20,000-square-foot property was built in 2012 and is leased to multiple restaurants. Triple Net Brokers represented both Nouvini and the undisclosed seller in the transaction.

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ArizonaInvestment salesNews

Westwood Financial Purchases 83,787-Square-Foot Paradise Hills Shopping Center in Phoenix

by Hayden Spiess

Phoenix — Westwood Financial has purchased Paradise Hills Shopping Center, a retail property located in Phoenix, from Abbington Emmerson Investments for an undisclosed price. Situated on 7.5 acres, the property totals 83,787 square feet of retail space.  Tenants at the center include Ace Hardware, Pet Supplies Plus and Uptown Jungle. Mindy Korth, J.K. Jackson, El Warner and Caitlin Zirpolo of Colliers represented the seller in the deal.

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GeorgiaInvestment salesNews

CNSREIT Acquires 142,000-Square-Foot Shopping Center in Metro Savannah

by Hayden Spiess

Pooler, Ga. — Cohen & Steers Income Opportunites REIT (CNSREIT) has acquired Village on Pooler Parkway, a 142,000-square-foot shopping center located in Pooler, roughly 15 miles outside Savannah. CNSREIT purchased the center through a joint venture with Sterling Organization. Built in 2014, the property was fully leased at the time of sale. Tenants at the center include T.J. Maxx, Ross Dress for Less, Michaels, PetSmart, Panera Bread, Buffalo Wild Wings and Jersey Mike’s. 

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GeorgiaInvestment salesNews

Marcus & Millichap Brokers $6.3 Million Sale of Retail Center in Atlanta Suburb

by Hayden Spiess

Alpharetta, Ga. — Marcus & Millichap has brokered the $6.3 million sale of Deerfield Village, a 16,500-square-foot retail center located in the Atlanta suburb of Alpharetta. Tenants at the property, which was fully leased at the time of sale, include Ichiban and Nahm. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller in the transaction. 

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FloridaInvestment salesMixed-useNews

Benderson Acquires 25,000-Square-Foot Mixed-Use Property in Metro Orlando 

by Hayden Spiess

Winter Park, Fla. — Benderson Development has acquired Park Plaza, a 25,000-square-foot mixed-use property located in University Park, approximately six miles outside Orlando. The building features a 28-room boutique hotel as well as retail space. Benderson also recently acquired the Cypress Trace and Carillon Place shopping centers in Fort Myers and Naples.

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FloridaGrocery-anchoredInvestment salesNews

Benderson Acquires 280,000-Square-Foot Retail Center in Fort Myers, Florida

by Hayden Spiess

Fort Myers, Fla. — Benderson Development has acquired Cypress Trace, a 280,000-square-foot retail center located in Fort Myers. Winn-Dixie anchors the property, which spans 29 acres. Other tenants at the center include Five Below, Burlington and Ross Dress for Less. Benderson’s other recent acquisitions in the state include Carillon Place in Naples, North River Marketplace in Venice, Glengary Shoppes in Sarasota and Linton Commons in Delray Beach. 

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Investment salesNewsOregon

Hanley Brokers $13 Million Sale of Keizer Village Shopping Center in Keizer, Oregon

by Hayden Spiess

Keizer, Ore. — Hanley Investment Group Real Estate Advisors has brokered the $13 million sale of Keizer Village Shopping Center in Keizer, roughly 45 miles southwest of Portland. Physiq Fitness and The Thrift Store anchor the property, which totals 76,785 square feet. The center, which was built in 1962 and renovated in 2004, was 99 percent occupied at the time of sale by tenants including Little Caesar’s Pizza, Metro by T-Mobile, Subway and US Market. Kevin Fryman of Hanley, in association with ParaSell Inc., represented the seller — Cumberland Holdings LLC …

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