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Investment sales

Starbucks Coffee and Dental Care on 7
Investment salesMissouriNet leaseNews

Hanley Brokers Sale of Two Single-Tenant Retail Properties in Blue Springs, Missouri

by Abby Cox

Blue Springs, Mo. — Hanley Investment Group Real Estate Advisors has brokered the sale of two newly constructed, single-tenant retail properties located in Blue Springs, roughly 19 miles southeast of downtown Kansas City. The adjacent properties — which are occupied by Dental Care on 7 and Starbucks Coffee — were sold for more than $5 million to two separate buyers. The transactions had a blended cap rate in the low 6 percent range. Situated on a 0.96-acre parcel, Dental Care on 7 totals 4,200 square feet. Jeff Lefko and Bill …

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Raising Cane's Flagship Store
CaliforniaInvestment salesNewsRestaurants

Levin Johnston Brokers Sale of 12,419-Square-Foot Retail Property in Berkeley, California

by Abby Cox

Berkeley, Calif. — The Levin Johnston Group of Marcus & Millichap has brokered the sale of a 12,419-square-foot retail property located at 2310 Telegraph Ave. in Berkeley. Restaurant chain Raising Cane’s purchased the property for $12.7 million. The property is currently tenanted by Walgreens, but Raising Cane’s plans a future location for the property.

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Grocery-anchoredInvestment salesNew YorkNews

Marcus & Millichap Arranges $5.2 Million Sale of Retail Property in Queens

by Abby Cox

Queens, New York — Marcus & Millichap has arranged the $5.2 million sale of a 9,640-square-foot retail property located along Queens Boulevard in Rego Park. The property is anchored by CTown Supermarket and features three additional service-oriented tenants and 100 feet of retail frontage. Joseph French Jr. and Kodi Traver of Marcus & Millichap’s Westchester office marketed the property on behalf of the seller and procured the buyer, both private investors, in the transaction.

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Investment salesNewsSouth Carolina

Ziff Real Estate Acquires 253,308-Square-Foot Retail Center in North Charleston

by Abby Cox

North Charleston, S.C. — Mt. Pleasant, South Carolina-based Ziff Real Estate Partners (ZRP) has acquired Promenade at Northwoods, a 253,308-square-foot retail center in North Charleston, for $30.8 million. While the sales price was not disclosed, The Post and Courier reports the seller was an affiliate of Charlotte, North Carolina-based Big V Property Group. Situated across from Northwoods Mall, the property is anchored by Hobby Lobby and Ollie’s Bargain Outlet. Christian Chamblee, Brooke Frey and Paige Tompkins led the ZRP deal team in the transaction. This acquisition brings ZRP’s metro Charleston portfolio …

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The Venue at Belden
Investment salesNewsOhio

Axiom Realty Acquires 157,632-Square-Foot Shopping Center in North Canton, Ohio

by Abby Cox

North Canton, Ohio — Axiom Realty has acquired The Venue at Belden, a 157,632-square-foot regional shopping center in North Canton, Ohio. Originally built in 1974, the center was renovated and re-tenanted in 2016 and 2017. Burlington, T.J. Maxx, HomeGoods and Earth Fare comprise more than 60 percent of the center’s gross leasable area. Erin Patton of IPA represented the undisclosed seller in the transaction.

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Washington Square
CaliforniaGrocery-anchoredInvestment salesNews

Brixton Capital Acquires Shopping Center for $67.5 Million in Petaluma, California

by Abby Cox

Petaluma, Calif. — Brixton Capital has acquired Washington Square, a 215,506-square-foot shopping center located in Petaluma, for $67.5 million. The eight-building retail center — which was more than 99 percent leased at the time of sale — is anchored by Safeway. Other tenants at the property include Staples, Harbor Freight Tools, Planet Fitness, Five Below and MarinHealth Medical Center. Brixton plans to improve the property, which was built in 1971 and renovated in 1996, with parking lot and exterior enhancements, roof replacements, new paint and landscaping, and upgrades to the …

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Stow Shopping Center
Grocery-anchoredInvestment salesMassachusettsNews

Atlantic Capital Partners Arranges $26 Million Sale of Two Shopping Centers in Massachusetts

by Abby Cox

Stow and Yarmouth, Mass. — Atlantic Capital Partners has arranged the $26 million sale of two grocery-anchored shopping centers in Massachusetts. The properties include Stow Shopping Center in the Boston suburb of Stow and Yarmouth Shopping Center in Yarmouth. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, an undisclosed Canadian entity, in the transaction. Stow Shopping Center is anchored by Shaw’s Supermarket and spans 124,405 square feet. The property was 90 percent leased at the time …

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Three-tenant retail outparcel at Greenbrier Square
Grocery-anchoredInvestment salesNewsVirginia

SLN Capital Markets Sells Three-Tenant Outparcel at Shopping Center for $3.4 Million in Norfolk, Virginia

by Abby Cox

Norfolk, Va. — SLN Capital Markets, a division of S.L. Nusbaum Realty Co., has sold a 7,440-square-foot, three-tenant retail outparcel at Greenbrier Square in Norfolk for $3.4 million. Tenants at the retail strip center include La Hacienda Mexican Grill, Clover Nail Spa and Tobacco Land & Vape. This transaction marks SLN’s seventh retail parcel sold at the 254,000-square-foot grocery-anchored shopping center.

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Waterside
Grocery-anchoredInvestment salesNewsTexas

Partnership Sells 68-Acre Mixed-Use Development in Fort Worth, Texas

by Abby Cox

Fort Worth, Texas — A partnership between Trademark Property Co. and Swift Creek Partners has sold Waterside, a 68-acre mixed-use development located in Fort Worth. The Georgetown Co. purchased the property for an undisclosed price. The mixed-use development — which was 98 percent leased at the time of sale — features 157,791 square feet of retail space anchored by Whole Foods Market and REI. The property also includes 550 multifamily units, office space, a Residence Inn, townhomes and a community pavilion and gathering space. Chris Gerard, Barry Brown, Erin Lazarus …

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