Moreno Valley, Calif. — Faris Lee Investments has brokered the $4.6 million sale of Woodstock Plaza, a retail strip center located in Moreno Valley. The center was 75 percent occupied at the time of sale. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller in the all-cash transaction. A private investor acquired the property.
Woodland Park, N.J. — JLL Capital Markets has brokered the $18 million sale of West Falls Plaza, a 90,945-square-foot shopping center located in Woodland Park, roughly 20 miles outside New York City. Tenants at the property include The Home Depot, Best Buy and Petco. Jose Cruz, J.B. Bruno, Kevin O’Hearn and Michael Zlotnick of JLL represented the undisclosed seller in the transaction. An affiliate of Northeast Capital Group purchased the property.
Glenview, Ill. — Marcus & Millichap has arranged the $10.2 million sale of Shops at Glen Pointe in Glenview, about 20 miles northwest of Chicago. Tenants at the retail center, which comprises three buildings, include Chipotle Mexican Grill, Starbucks Coffee, Naf Naf Grill and AT&T. The property serves as an outlot to Mariano’s and LA Fitness. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local limited liability company. An Iowa-based investment group was the buyer.
Decatur, Ga. — Edens plans to transform North DeKalb Mall, an enclosed regional shopping mall in the Atlanta suburb of Decatur, into a 2.5 million-square-foot mixed-use development called Lulah Hills. Edens acquired the 622,297-square-foot mall in 2021 and rezoned the 73-acre site in 2022 to allow for mixed-use development. Upon completion, Lulah Hills will comprise 320,000 square feet of retail and restaurant space, 1,700 multifamily units, 100 townhomes and a 150-room hotel. North DeKalb Mall opened in 1965 and served as the first fully enclosed mall in metro Atlanta. Demolition …
Houston — JLL Capital Markets has arranged the sale of Steeplechase Center, a 195,575-square-foot retail center located in Houston. Tenants at the property, which was 82 percent leased at the time of sale, include Goodwill, Melrose, Citi Trends, Uptown Beauty, Dollar Tree, dd’s Discounts, 99 Cents Only, Big City Wings, Leslie’s Pools, Rent a Center, La Reyna Tortilleria, Kim’s Hair Salon, Imperial Foot Reflexology, Iris Nails and Spa, Nancy’s Tailor, Metro PCS, Pho Town, Checkers and Ostioneria Michoacan. John Indelli and Ryan West of JLL represented the seller, an entity …
Cumming and Kennesaw, Ga. —The Aubuchon Realty Co. (ARC) has acquired two retail properties in metro Atlanta in separate transactions totaling $15 million. ARC purchased Town Center Esplanade — a shopping center located in Kennesaw, roughly 30 miles northwest of Atlanta — from MC Promenade LLC for $9.5 million. Tenants at the property, which was built in 1988 and comprises 39,108 square feet, include Revolving Sushi Factory, J. Christopher’s Café, Three Dollar Café, The Juicy Crab and Ten Seconds Rice Noodle. ARC also acquired a single-tenant property located in Cumming, …
Bridgewater, N.J. — Pacific Retail Capital Partners (PRCP) has acquired Bridgewater Commons, a 1.2 million-square-foot mall located in Bridgewater, roughly 40 miles outside New York City, for an undisclosed price. The Village at Bridgewater Commons, an adjacent 94,000-square-foot open-air shopping center, was included in the acquisition. Tenants at the mall include Bloomingdale’s, Macy’s, Apple, J. Crew, lululemon, Athletica, Williams-Sonoma, The Cheesecake Factory, AMC Dine-In Theatres, LOFT, Maggiano’s Little Italy, Shake Shack and Starbucks Coffee. PRCP has assumed the property’s existing loan and secured an extension, with plans to transform the …
Temecula, Calif. — CBRE has brokered the $27.7 million sale of Meadows Village Center, a 67,336-square-foot retail center located in Temecula. Barons Market anchors the center, which was 96 percent leased at the time of sale. Other tenants include Starbucks Coffee, Wells Fargo, Palomar Health, Subway, Crumbl Cookies, The UPS Store and Pacific Dental. The property also features a CVS/pharmacy, which was not included in the sale. Jimmy Slusher, Philip Voorhees and James Tyrrell of CBRE represented the seller, funds managed by affiliates of Fortress Investment Group LLC, in the …
Alpharetta, Ga. — Franklin Street has arranged the $9.4 million sale of Alpha Soda Center, a 14,625-square-foot strip shopping center located in the Atlanta suburb of Alpharetta. An entity doing business as Stonewalk Alpha III LLC sold the property, which underwent renovations in 2021, to an undisclosed buyer. Bryan Belk and John Tennant of Franklin Street’s Retail Investment Sales Team brokered the transaction on behalf of the seller.
Fontana, Calif. — Progressive Real Estate Partners has arranged the $6 million sale of South Sierra Plaza, a 17,250-square-foot strip retail center located in Fontana. Comprising 12 units, the property was 93 percent leased at the time of sale to tenants including a dentist, nail salon, Armed Forces career center, staffing agency, Japanese restaurant and Peruvian restaurant. Brad Umansky and Lance Mordachini of Progressive represented the seller, a private Los Angeles-based investor, in the transaction. Paul Galmarini and Albert Lopez, also of Progressive, handled leasing at the property prior to …
