East Longmeadow, Mass. — ShopOne Centers REIT Inc., with joint venture partners Pantheon and an undisclosed institutional investor, has acquired Heritage Park Plaza, a 117,337-square-foot retail center located in East Longmeadow, a suburb of Springfield. Stop & Shop anchors the property, which was 98 percent leased at the time of sale. Other tenants at the center include Petco, Orangetheory Fitness, Panera Bread, Dollar Tree, Pure Barre, 99 Restaurant and Pub and H&R Block.
Waynesville, N.C. — Divaris Real Estate has brokered the $14.8 million sale of Russ Avenue Plaza, a shopping center located in Raleigh. Situated on 17 acres, the property formerly housed a Kmart. Jessica Johnson of Divaris represented the seller, an entity doing business as Russ Avenue Plaza LLC, in the transaction.
Hialeah, Fla. — Codina Partners has acquired a 15-acre parcel formerly occupied by Sears at Westland Mall in Hialeah for an undisclosed price. The site has been vacant since February 2020. The locally based buyer has formed a joint venture with Westland Mall owner, Centennial, to redevelop the site and add a mixed-use concept with a residential component. Centennial acquired Westland Mall from Starwood Capital in 2021. The shopping center comprises more than 300,000 square feet of retail space that is anchored by Macy’s, JC Penney and the former Sears site.
Onalaska, Wis. — Construction is underway on the redevelopment of a retail building formerly occupied by Shopko within East Towne Plaza in Onalaska. CORTA Development acquired the building last year and began construction in January. Completion of the redevelopment, which will include the addition of space for tenants Ulta Beauty and Five Below, is scheduled for completion before the end of the year. Mid-America Real Estate represented CORTA in the acquisition of the property.
Glenview, Ill. — Marcus & Millichap has arranged the sale of a 75,649-square-foot retail center in the Chicago suburb of Glenview for $18.1 million. Anchored by Advocate Medical, the property was 97 percent leased at the time of sale. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local private investor. Adrian Mendoza of Marcus & Millichap secured and represented the buyer, a locally based limited liability company.
Newport News, Va. — Legacy Realty Group Advisors has brokered the $6.7 million sale of Richneck Center, a 63,945-square-foot retail center located in Newport News, roughly 30 miles outside Norfolk. Food Lion anchors the property, which was 95 percent occupied at the time of sale. Jacob Baruch of Legacy represented both the buyer and seller in the transaction.
Phoenix — Westwood Financial has sold Ahwatukee Mercado, a 125,716-square-foot retail center located in Phoenix, to a private buyer for an undisclosed price. Built in 1985, the property is anchored by Safeway. Other tenants at the center, which was 95 percent leased at the time of sale, include Great Clips, H&R Block, Subway, Dogtopia and Biscuits Restaurants. Westwood acquired the center in 2019.
Columbus, Ohio — Alterra Real Estate Advisors has acquired a mixed-use building in Columbus for $3.1 million. Constructed in 1986, the building comprises three stories and 62,000 square feet of retail and office space. Auto Owners Life Insurance Co., which is a tenant at the building, was a seller. Other tenants include BHM CPA Group, J Gilberts, Salon Lofts, Auto Owners Insurance, Fishbeck, Stringfield Industries, Valmer Land Title, NeuroRehab, Advanced Billing, Manifest IT, Firouzian Dentistry and Subway. Retail space at the property was fully leased at the time of sale. …
Mission Viejo and Palm Desert, Calif. — SRS Real Estate Partners has brokered the $15 million sale of two single-tenant retail properties in Southern California. Located in Mission Viejo and Palm Desert, the buildings are occupied by Chick-fil-A on triple-net ground leases. Jimmy Slusher, Eric Shain and John Read of CBRE represented the seller of the 4,800-square-foot Mission Viejo property, a local private investor. The Palm Desert property comprises 4,738 square feet situated on 1.6 acres within Monterey Crossing Shopping Center. Timothy Genske of CBRE and Bruce Bailey of The …
Charlotte, N.C. — Providence Group Capital (PGC) has acquired two properties located at 2429 and 2511 South Tryon St. in Charlotte’s South End neighborhood. Totaling roughly 1.3 acres, the properties feature three existing buildings comprising more than 17,500 square feet. Tenants at the buildings include Euro Cars South End, A&T Auto Body Shop and Paws Whiskers & Wags. PGC has purchased 15 properties in the same section of South End over the past 18 months. Hayes Faulkenberry of Land Advisors represented PGC in the acquisition of 2429 South Tryon St. …
