Chicago — Marcus & Millichap has negotiated the sale of a 6,000-square-foot retail property net leased to Just Tires in Chicago for $4.2 million. The asset is located at 4809 N. Broadway St. in the Uptown neighborhood. Nicholas Kanich of Marcus & Millichap brokered the transaction between the Chicago-based seller and Delaware-based buyer.
West Caldwell, N.J. — Jeffery Realty has negotiated the sale of a 3,800-square-foot retail building in the Northern New Jersey community of West Caldwell. The property at 559 Bloomfield Ave. currently houses an AAMCO auto repair shop. Bill Farkas of Jeffery Realty represented the seller in the transaction. Jon Corbiscello of Keller Williams represented the buyer, a private investor. Both parties requested anonymity.
Germantown, Tenn. — PEBB Enterprises has sold Germantown Village Square, a 199,142-square-foot mixed-use property located in the Memphis suburb of Germantown, for $35.5 million. The property includes 138,995 square feet of ground-floor retail space and 60,147 square feet of second-floor office space occupied primarily by West Clinic, a subsidiary of Baptist Memorial Health Services. Germantown Village Square was 90 percent occupied at the time of sale by tenants including TJ Maxx, DSW, Ulta Beauty, Old Navy and Five Below. The property was developed in 1975 at 7670 Poplar Ave. and …
Towson, Md. — Stan Johnson Co. has brokered the $26.8 million sale of a single-tenant retail building leased to Whole Foods Market in Towson, roughly 14 miles outside Baltimore. The 63,750-square-foot store anchors Towson Row, a mixed-use project by Greenberg Gibbons. Jason Maier of Stan Johnson represented the buyer, a private investor based in New York, in the acquisition of the property from an undisclosed, Maryland-based investor. The building was acquired in a 1031 exchange transaction. The property was built in 2021 and is situated on 4.3 acres, less than …
Georgetown, Ky. — Stan Johnson Co. has arranged the $15 million sale of Washington Square, a 122,554-square-foot shopping center located at 1002 Lexington Road in Georgetown. Ryan Roedersheimer of Stan Johnson Co.’s Cincinnati office represented the seller, a Lexington-based investment firm, in the transaction. The buyer is a private investment firm based in Austin. Washington Square was built in 1972 and is situated on a heavily trafficked corner spanning 13.9 acres about 10 miles north of Lexington. The property was fully leased at the time of sale to tenants including anchor …
Zionsville, Ind. — Marcus & Millichap has arranged the $3.9 million sale of Whitestown Parkway in Zionsville, a northwest suburb of Indianapolis. Built in 2018, the 11,332-square-foot retail property is home to five tenants. Alex Perez and Chris Garavaglia of Marcus & Millichap brokered the transaction. Both the buyer and seller were limited liability companies.
Arcadia, Calif. — Unibail-Rodamco-Westfield (URW) has sold Westfield Santa Anita, a 1.5 million-square-foot regional mall located roughly 15 miles northeast of Los Angeles in Arcadia, for $537.5 million. The transaction represents the largest price paid for a regional mall in the U.S. since 2018, according to Eastdil Secured, which acted as financial advisor to the seller. The buyer is an undisclosed real estate investor that owns other retail assets in Southern California. The acquisition was funded through a combination of equity and new debt, and reflects a sub-6 percent net initial yield …
Chicago — Continental Realty Corp. (CRC) has entered the Chicago market with its acquisition of a five-property shopping center portfolio for $93.6 million. The properties total more than 900,000 square feet of gross leasable area and are located in Cicero, Mount Prospect, Naperville and Palatine. Specifically, the properties include Cicero Marketplace in Cicero; Northwest and English Valley shopping centers in Palatine; Golf Plaza II in Mount Prospect; and Fox River Commons in Naperville. DiMucci Cos. was the seller. Tucker Development served as an acquisition and development consultant on the transaction. The portfolio …
Florida, Colorado and Indiana — Institutional Property Advisors (IPA) has secured $62.4 million in acquisition financing for a six-property portfolio of grocery-anchored retail centers in Florida, Colorado and Indiana. Sunny Sajnani and Todd McNeill of IPA worked on behalf of the borrower, Essential Growth Properties, to place the five-year, fixed-rate, non-resource financing through three separate lenders. The portfolio includes Gainesville Shopping Center in Gainesville, Florida; Cheyenne Meadows Shopping Center in Colorado Springs, Colorado; Woodlands Crossing in Elkhart, Indiana; Plymouth Plaza in Plymouth, Indiana; Crawfordsville Square in Crawfordsville, Indiana; and Auburn Plaza, …
Russellville, Ark. — Mid-America Real Estate Corp. has arranged the sale of Valley Park Centre, a 282,608-square-foot shopping center located in the Arkansas River Valley community of Russellville. The property was 95 percent occupied at the time of sale by tenants including TJ Maxx, Ross Dress for Less, Belk, JC Penney, Shoe Carnival, Hibbett, Hobby Lobby, PetSmart and Five Below. Ben Wineman of Mid-America and Hank Kelley of Kelley Commercial Real Estate Partners represented the sellers, an affiliate of RCG Ventures and an undisclosed New York City-based joint venture partner, …