Investment sales

Bubba-33
IndianaInvestment salesNet leaseNewsRestaurants

SRS Arranges $2.6 Million Ground Lease Sale of Restaurant in Metro Indianapolis

by Hayden Spiess

Avon, Ind. — SRS Real Estate Partners has arranged the $2.6 million ground lease sale of a 7,000-square-foot restaurant property in Avon, about 13 miles west of Indianapolis. Bubba’s 33 occupies the newly constructed property on a 15-year triple-net lease that is corporate guaranteed by parent company Texas Roadhouse Inc. Founded in 2013, Bubba’s 33 is an expanding sister brand of Texas Roadhouse. Morgan Merrill and Sarah Shanks of SRS represented the seller, Texas Roadhouse Inc. A California-based private investor was the buyer. 

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Adams-Marketplace_Huntington-Beach-Calif
CaliforniaGrocery-anchoredInvestment salesNews

JLL Brokers $29 Million Sale of Shopping Center in Metro Los Angeles

by Hayden Spiess

Huntington Beach, Calif. — JLL Capital Markets has brokered the $29 million sale of Adams Marketplace, a 65,116-square-foot shopping center located in Huntington Beach, approximately 35 miles southeast of Los Angeles. Built in 1974 and renovated in 2022, the property was 98 percent occupied at the time of sale. Smart & Final Extra anchors the center, with other tenants including Petco, Starbucks Coffee, MemorialCare Medical and Wingstop. Jiffy Lube, 76 Gas and Carl’s Jr. are also located at the center and were not included in the sale. Bryan Ley, Gleb Lvovich, …

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Investment salesMassachusettsNews

Atlantic Capital Partners Arranges Sale of 64,917-Square-Foot Property in Metro Boston

by Hayden Spiess

Framingham, Mass. — Atlantic Capital Partners has arranged the sale of a 64,917-square-foot retail property in Framingham, a western suburb of Boston. Stop & Shop occupies the property, which is situated on 7.6 acres. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller and procured the buyer, both of which were not disclosed, in the transaction.

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IllinoisInvestment salesNews

Lee & Associates Arranges $1.8 Million Sale of Retail Pad in Metro Chicago

by Hayden Spiess

Alsip, Ill. — Lee & Associates has arranged the $1.8 million sale of a retail pad located in Alsip, roughly 25 miles southwest of Chicago. A Belle Tire location will be developed on the 1-acre site, which was previously occupied by Bakers Square Restaurant. Rick Scardino of Lee & Associates represented the seller, Orion Capital, in the transaction. Dave Chopp and Ryan Chopp of DRC Realty represented the buyer, Barnes Development Co. doing business as Belle Tire. 

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Turnberry-Crossing_Newport-News-Va
Investment salesNewsVirginia

Cushman & Wakefield | Thalhimer Brokers $8.2 Million Sale of Turnberry Crossing in Newport News, Virginia

by Hayden Spiess

Newport News, Va. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has brokered the $8.2 million sale of Turnberry Crossing, a 53,775-square-foot retail center located in Newport News. Goodwill anchors the property, which was 95 percent leased to 17 tenants at the time of sale. Other tenants include Hertz, Papa John’s and DaaBIN Store. Catharine Spangler of Cushman & Wakefield | Thalhimer arranged the transaction on behalf of the seller, Stavins & Axelrod. Prudent Growth Partners acquired the property. 

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Walgreens_West-Miami
FloridaInvestment salesNet leaseNews

Marcus & Millichap Arranges $6.7 Million Sale of Single-Tenant Property Leased to Walgreens in Miami

by Hayden Spiess

Miami — Marcus & Millichap has brokered the $6.7 million sale of a freestanding, 13,650-square-foot property in Miami. Walgreens occupies the building on a 15-year triple-net lease. Built in 2004 and situated on 1.4 acres, the property is an outparcel to Kendall Pointe, a shopping center anchored by Aldi and PetSmart. Jonathan De La Rosa and Eduardo Toledo of Marcus & Millichap’s Miami office represented the buyer, a local private investment firm, in the transaction. 

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Buc-ees_New-Kent-Va
DevelopmentInvestment salesNewsVirginia

Buc-ee’s to Open 75,000-Square-Foot Location in Metro Richmond

by Hayden Spiess

New Kent, Va. —Buc-ee’s has purchased 27.7 acres off I-64 in the Richmond suburb of New Kent with plans to develop the brand’s first location in Virginia. Upon completion, the Buc-ee’s Super Center will comprise 75,000 square feet of retail space, 120 fueling stations, electric vehicle chargers and more than 650 parking spaces. Construction on the project is scheduled for completion within the next 24 months. Nathan Shor of S.L. Nusbaum Realty Co. represented both the seller and Buc-ee’s in the land acquisition.

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Little-Caesars_Perris-Calif
CaliforniaInvestment salesNews

Hanley Arranges $4.1 Million Sale of Retail Pad in Southern California

by Hayden Spiess

Perris, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.1 million sale of a 5,303-square-foot retail pad located in Perris. Altura Credit Union and Little Caesars Drive-Thru occupy the property, which was built in 2022 and is an outparcel to a shopping center anchored by Cardenas Markets. Bill Asher and Jeff Lefko of Hanley represented the seller, a California-based private partnership. Howard Rosenthal and Guy Excell of Rosenthal & Excell Commercial Real Estate represented the buyer, a California-based family office. 

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Arcadia-Towne-Center_Phoenix
ArizonaGrocery-anchoredInvestment salesNews

Whitestone Acquires Arcadia Towne Center in Phoenix for $25.3 Million

by Hayden Spiess

Phoenix — Whitestone REIT has acquired Arcadia Towne Center, a 70,000-square-foot retail center located in Phoenix, for $25.3 million. A Safeway, not included in the sale, anchors the center. Tenants at the property include CVS/pharmacy, Tutor Time, Mathnasium, Over Easy, Sole Ports and Puff & Fluff Grooming. 

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Orlando-Square
FloridaInvestment salesNews

Plaza Advisors Arranges Sale of 183,877-Square-Foot Retail Center in Orlando

by Hayden Spiess

Orlando, Fla. — Plaza Advisors has arranged the sale of Orlando Square, a 183,877-square-foot shopping center located in Orlando. The property was 85 percent leased at the time of sale to tenants including Ross Dress for Less, Office Depot, Ollie’s Bargain Outlet, Central Rock Gym, Chipotle Mexican Grill, Firehouse Subs, Bright Now Dental, Chick-fil-A and Chase Bank. Core Investment Management purchased the center for an undisclosed price. Plaza Advisors represented the seller, an entity doing business as AGRE Orlando Square LLC.

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