Investment sales

Crowder-Plaza_Sarasota
FloridaInvestment salesNews

Ian Black Real Estate Brokers $8.2 Million Sale of Retail Center in Sarasota, Florida

by Hayden Spiess

Sarasota, Fla. — Ian Black Real Estate has brokered the $8.2 million sale of Crowder Plaza, a 25,000-square-foot retail center located in Sarasota. Shadow-anchored by Ace Hardware, the center was fully leased at the time of sale to tenants including Big Top Brewery, Goodwill, The Granary, Blossom Nails, The Boutique Out East, Premier Tackle and Domino’s Pizza. George Brusco of Ian Black Real Estate represented the seller, an entity doing business as Crowder Enterprises LLC, in the transaction. Marny Lewis of Berkshire Hathaway HomeServices, Florida Realty represented the buyer, an entity …

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Investment salesNewsTexas

Partners Real Estate Brokers Sale of 13,400-Square-Foot Retail Strip Center in Corpus Christi, Texas

by Hayden Spiess

Corpus Christi, Texas — Partners Real Estate has brokered the sale of River Court Shopping Center, a 14,000-square-foot retail strip center in Corpus Christi. Tenants at the property include First Cash Pawn, Pro Cleaners and Hu-Dat Noodle House. Gustavo Torres of Partners Real Estate represented the seller, an entity doing business as KCP River Court, in the transaction. 

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CaliforniaInvestment salesNews

Wood Investments Cos. Acquires 25,500-Square-Foot Single-Tenant Property in San Clemente, California

by Hayden Spiess

San Clemente, Calif. — Wood Investments Cos. has acquired a 25,000-square-foot single-tenant retail property located in San Clemente for $7 million. The 99 Store occupies the property, which is situated within Pico Plaza shopping center. “The 99 Store has been a good tenant and partner of ours in other centers, and this was another opportunity to partner with them again,” says Patrick Wood, chief executive officer and president of Wood Investments. 

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FinanceInvestment salesNewsTexas

Northmarq Arranges Sale of 11,692-Square-Foot Retail Strip Center in Metro Houston

by Hayden Spiess

Deer Park, Texas — Northmarq has brokered the sale of The Shoppes at Town Square, an 11,692-square-foot retail strip center in Deer Park, a suburb of Houston. The center was leased to five tenants at the time of sale. Riley Sharman of Northmarq represented the Florida-based seller in the deal. The buyer was a local 1031 exchange investor. Peters and Michael Borden of Northmarq arranged acquisition financing.

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Investment salesNet leaseNew MexicoNewsRestaurants

Hanley Brokers Sale of 3,331-Square-Foot Single-Tenant Property in Albuquerque, New Mexico

by Hayden Spiess

Albuquerque, N.M. — Hanley Investment Group Real Estate Advisors has arranged the sale of a 3,331-square-foot single-tenant retail property located in Albuquerque. Raising Cane’s Chicken Fingers occupies the building on a 15-year, triple-net lease. Bill Asher, Jeff Lefko and Jeremy McChesney of Hanley represented the seller and developer, TradeCor LLC, in the transaction, in association with ParaSell Inc. Greg Swedelson and Jon-Eric Greene of SSG Realty Partners represented the buyer, an undisclosed private investor. 

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Richland-Plaza
Investment salesNewsPennsylvania

James Balliet Property Group Arranges Sale of 225,000-Square-Foot Shopping Center in Quakertown, Pennsylvania

by Katie Sloan

Quakertown, Pa. — Keller Williams Real Estate-The James Balliet Property Group has arranged the sale of Richland Plaza, a 225,000-square-foot shopping center located in Quakertown. Velocity Venture Partners acquired the property for $16.7 million. Tenants at the center, which is situated on 20 acres, include Wells Fargo, Ollie’s Bargain Outlet and Pearle Vision Center. James Balliet of James Balliet Property Group represented the seller, APS Associates, in the transaction. The buyer plans to redevelop the property. 

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CaliforniaInvestment salesNews

Progressive Brokers $7.2 Million Sale of Single-Tenant Property in Southern California

by Katie Sloan

Corona, Calif. — Progressive Real Estate Partners has brokered the $7.2 million sale of a single-tenant retail property located in Corona. Merit Auto Spa, a full-service car wash center, occupies the building, which is an outparcel to Corona Hills Marketplace. A California-based private investor purchased both the property and business. Victor Buendia of Progressive represented the undisclosed seller in the transaction. 

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Treasure-Island-Plaza
DevelopmentFloridaInvestment salesMixed-useNews

Marcus & Millichap Arranges $5.9 Million Sale of Retail Strip Center in Treasure Island, Florida

by Katie Sloan

Treasure Island, Fla. — Marcus & Millichap has arranged the $5.9 million sale of Treasure Island Plaza, a 20,000-square-foot retail strip center located in Treasure Island in metro Tampa Bay. Built in 1981, the property was leased to 11 tenants at the time of sale. The buyer, an investment firm based in Miami, plans to redevelop the one-acre parcel into a mixed-use building with 40 residences atop 10,000 square feet of retail space. Evan Cannan and Reid Thedford of Marcus & Millichap’s Tampa office brokered the transaction.

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Cotton-Mill-II_Washington-Utah
FinanceInvestment salesNewsUtah

Gantry Arranges $15.2 Acquisition Financing for Retail Center in Utah

by Hayden Spiess

Washington, Utah — Gantry has arranged a $15.2 million loan for the acquisition of Cotton Mill II, a retail center located in Washington, a suburb of St. George. Situated on 18.2 acres, the property comprises an inline shopping center and two outparcel ground leases totaling 165,000 square feet, with an additional pad that has capacity for a 15,000-square-foot multi-tenant inline building. Tenants at the center include Kohl’s, Natural Grocers, Ross Dress For Less, JOANN Fabrics, Dollar Tree, Red robin and Cache Valley Bank. Tony Kaufmann and Erinn Cooke of Gantry secured …

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IndianaInvestment salesNews

Mid-America Negotiates Sale of 312,406-Square-Foot Highland Grove Shopping Center in Suburban Indianapolis

by Hayden Spiess

Highland, Ind. — Mid-America Real Estate Corp. has negotiated the sale of Highland Grove, a 312,406-square-foot shopping center in Highland, a suburb of Indianapolis. The sales price was undisclosed. Tenants at the property, which was fully leased at the time of sale, include Kohl’s, Burlington, Macy’s, Michaels, Petco, Ulta Beauty, Five Below, Famous Footwear, Potbelly, Torrid and Olive Garden. Target, Best Buy and Ashley Furniture shadow anchor the property. Ben Wineman, Joe Girardi and Rick Drogosz of Mid-America represented the undisclosed seller. Bridge33 Capital was the buyer.

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