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Investment sales

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GeorgiaGrocery-anchoredInvestment salesNews

Garner Group Sells Publix-Anchored Shopping Center in Central Georgia for $12 Million

by Katie Sloan

Warner Robins, Ga. — Garner Group has sold Publix at Gunn Battle, an 80,675-square-foot shopping center located in the central Georgia community of Warner Robins. Publix anchors the property, which was 93 percent occupied at the time of sale. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL Capital Markets represented the seller in the disposition of the center to a joint venture between Forge Capital Partners and The Sembler Co. The property was developed in 2010 and is located at 6015 Watson Blvd.

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72306-Highway-111-Palm-Desert-CA
CaliforniaInvestment salesNews

Hanley Investment Group Brokers $5 Million Sale of Two-Tenant Outparcel in Palm Desert, California

by Katie Sloan

Palm Desert, Calif. — Hanley Investment Group has arranged the sale of a two-tenant outparcel property located at 72306 Highway 111 in Palm Desert. Newport Beach-based Sage Investco sold the asset to a Salt Lake City-based private investor for $5 million. Mattress Firm occupies 3,800 square feet and Club Champion occupies 3,016 square feet at the asset on a net-leased basis. The property is an outparcel to a Walmart Neighborhood Market. Eric Wohl and CJ Kiehler of Hanley Investment Group represented the buyer and seller in the deal.

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Investment salesNewsTexas

Independence Commercial Advisors Negotiates Sale of 37,500-Square-Foot Retail Center in Lubbock

by Katie Sloan

Lubbock, Texas — Independence Commercial Advisors has negotiated the sale of Poka Lambro Shopping Center, a 37,500-square-foot retail property in Lubbock. Built on 4.9 acres in 1983, the property includes outparcels that house a Wells Fargo ATM and a recently renovated Burger King. Richard Mireles of Independence Commercial Advisors represented the undisclosed seller and procured the buyer, Texas-based NetCo Investments Inc., in the transaction.

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Investment salesNew JerseyNews

SRS Real Estate Brokers $8.8 Million Sale of Southern New Jersey Retail Property

by Katie Sloan

Brooklawn, N.J. — SRS Real Estate Partners has brokered the $8.8 million sale of a 1.5-acre retail property in the Southern New Jersey community of Brooklawn. The site houses a 4,950-square-foot structure that was built in 2019 and is leased to convenience store operator Wawa. Britt Raymond, Kyle Fant and Sabrina Kortlandt of SRS represented the seller, a New York-based hotelier, in the transaction. Winston Guest, also with SRS, represented the buyer, a California-based 1031 exchange investor.

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Texas-Roadhouse_Alcoa_Knoxville
Investment salesNewsTennessee

SRS Negotiates $2.4 Million Sale of New Restaurant Near Knoxville Ground Leased to Texas Roadhouse

by Katie Sloan

Alcoa, Tenn. — SRS Real Estate Partners’ National Net Lease Group has brokered the $2.4 million ground-lease sale of an 8,354-square-foot restaurant at 1125 Franck St. in Alcoa, a suburb of Knoxville. The landowner and tenant, Texas Roadhouse Inc., sold the 2.4-acre site to an undisclosed investor based in Virginia. The newly constructed restaurant is set to open in September, and Texas Roadhouse is subject to a 15-year ground lease. Morgan Creech and Sarah Shanks of SRS’ Louisville office represented Texas Roadhouse in the transaction. Feldman Ruel Urban Property Advisors …

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Investment salesMichiganNews

JLL Brokers $45 Million Sale of 193,850-Square-Foot Open-Air Retail Center in Metro Detroit

by Katie Sloan

Southfield, Mich. — JLL Capital Markets has brokered the $45 million sale of Tel Twelve, a 193,850-square-foot retail center in Southfield. The property is located roughly 15 miles northwest of Detroit at 28400 Telegraph Road. The center was 98 percent occupied at the time of sale by tenants including Best Buy, Ulta Beauty, DSW, PetSmart, BuyBuy Baby and Michaels. Meijer and Lowe’s shadow-anchor the property, which was built in 1968 and renovated in 2005. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, RPT Realty, and procured …

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Orchard-Crossing
IndianaInvestment salesNews

DRA Advisors Sells 130,100-Square-Foot Retail Center in Fort Wayne, Indiana

by Katie Sloan

Fort Wayne, Ind. — DRA Advisors has sold Orchard Crossing, a 130,100-square-foot retail center shadow-anchored by Target in Fort Wayne. Developed in 2008 at 902 S. Thomas Road, the property was 99 percent occupied at the time of sale by tenants including Hobby Lobby, Barnes & Noble, Dollar Tree and Five Below. Amy Sands, Clinton Mitchell and Michael Nieder of JLL Capital Markets represented the seller and procured the buyer, LBX Investments, in the transaction. 

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Beal-Commons
FloridaInvestment salesNews

Stan Johnson Arranges $8.4 Million Sale of Beal Commons in Fort Walton Beach, Florida

by Katie Sloan

Fort Walton Beach, Fla. — Stan Johnson Co. has arranged the $8.4 million sale of Beal Commons, a 15,982-square-foot retail center located at 575 Beal Parkway NW in Fort Walton Beach. Chase Dominguez of Stan Johnson represented the seller, an undisclosed local developer, in the disposition of the property to an individual investor based in Arizona. Both parties were involved in 1031 exchanges. The center was built in 2006 and renovated in 2019. Tenants at the time of sale included Starbucks Coffee, FedEx Office, Verizon and Ruby Tuesday.

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Target_Homestead
FloridaInvestment salesNews

SRS Brokers $23.8 Million Portfolio Sale of Three Single-Tenant Retail Properties Under Construction in Suburban Miami

by Katie Sloan

Homestead, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $23.8 million sale of three ground-leased, single-tenant retail properties located in the Miami suburb of Homestead. The properties are under construction and have been pre-leased by Target, Raising Cane’s and Murphy Oil. Target will open in late 2022, Raising Cane’s will open this month and Murphy Oil will open in the fall. Patrick Nutt and William Wamble of SRS represented the seller, an entity doing business as Homestead Pavilion LLC, in the transaction. The buyer was an …

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Shoppes-Lakeland
FloridaInvestment salesNews

Avanti Way Realty Brokers $7.1 Million Sale of Shoppes at Lakeland Square Mall in Metro Tampa

by Katie Sloan

Lakeland, Fla. — Avanti Way Realty has brokered the $7.1 million sale of Shoppes at Lakeland Square Mall, a 44,375-square-foot retail center located roughly 36 miles northeast of Tampa in Lakeland. Ollie’s Bargain Outlet anchors the property, which was fully occupied at the time of sale by tenants including All about Puppies, My Salon Suite, Regal Nails Salon & Spa and VidaCann. The center consists of two buildings occupying 4.5 acres at 4000 U.S. Hwy 98. Maria Gueits of Avanti Way Realty represented the buyer, Carrera Family Investments, in the 1031 exchange …

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