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Investment sales

240-Penn-Park
Investment salesNewsOklahoma

DRA Advisors, RCG Ventures Sell 240 Penn Park in Oklahoma City

by Katie Sloan

Oklahoma City — A joint venture between DRA Advisors and RCG Ventures has sold 240 Penn Park, a 241,831-square-foot retail center located in Oklahoma City. Completed in 2006, the property was 99 percent leased at the time of sale to tenants including Marshalls, Ross Dress for Less, Michaels, PetSmart, Best Buy, Mardel, Saltgrass, Lane Bryant, Five Below, Charleston’s Restaurant and GNC. Ryan Shore, Chris Gerard, Greyson Fewin and Pauli Kerr of JLL represented the seller in the disposition of the property to Mazaheri Properties for an undisclosed price. The center …

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Gainesville-Shopping-Center
FloridaInvestment salesNews

CBRE Brokers Sale of Publix-Anchored Shopping Center in Gainesville, Florida

by Katie Sloan

Gainesville, Fla. — CBRE has brokered the sale of Gainesville Shopping Center, a 182,298-square-foot, Publix-anchored shopping center in Gainesville. An affiliate of Essential Growth Properties purchased the asset from a joint venture between Forge Capital Partners and Sembler for an undisclosed price. Casey Rosen and Dennis Carson of CBRE represented the seller in the transaction. Situated along North Main Street near downtown Gainesville and the University of Florida, Gainesville Shopping Center’s tenant roster includes Citi Trends, Mainstreet Beauty Max and Career Source Florida. 

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Investment salesNew YorkNews

Vanbarton Group Sells Retail Assemblage in The Bronx for $22.7 Million

by Katie Sloan

New York City — Vanbarton Group has sold a 23,339-square-foot retail assemblage in the Morrisania neighborhood of The Bronx for $22.7 million. The sites collectively span a full block and are located at 1031-1049 Westchester Ave. and 1057 Southern Blvd. Josh Neustadter and Jonathan Squires of Cushman & Wakefield represented Vanbarton Group in the transaction. Jason Gold, Victor Sozio and Daniel Mahfar of Ariel Property Advisors represented the buyer.

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La-Verne-Plaza
CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNews

Faris Lee Arranges $17.3 Million Sale of La Verne Plaza in Metro Los Angeles

by Katie Sloan

La Verne, Calif. — Faris Lee Investments has arranged the $17.3 million sale of La Verne Plaza, a retail center located in the Los Angeles County community of La Verne. Shaun Riley and Nick Miller of Faris Lee represented the undisclosed seller and procured the San Gabriel Valley-based buyer in the all-cash transaction. The property is shadow-anchored by Stater Brothers and In-N-Out Burger. 

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Dodge-Crossing
Investment salesMassachusettsNews

ARC Acquires Multi-Tenant Retail Property in Suburban Boston for $6.6 Million

by Katie Sloan

Beverly, Mass. — Aubuchon Realty Co. (ARC) has acquired Dodge Crossing, a 21,350-square-foot retail center located in the Boston suburb of Beverly, for $6.6 million. Citizens Bank and Mattress Firm anchor the property, which was constructed in 1973 at the intersection of Enon Street and Dodge Street. The seller in the all-cash transaction was undisclosed. 

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Orland-Park-16124-S.-LaGrange-Rd
IllinoisInvestment salesNews

Quantum Negotiates $2.4 Million Sale of Retail Building in Suburban Chicago

by Katie Sloan

Orland Park, Ill. — Quantum Real Estate Advisors Inc. has negotiated the $2.4 million sale of a 17,342-square-foot retail building in the Chicago suburb of Orland Park. The property, located at 16124 S. La Grange Road, was fully leased to Children of America and Bear Paddle at the time of sale. Chad Firsel of Quantum brokered the transaction. A Chicago-based private real estate investment group purchased the property from a San Diego-based development company.

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Millenia-Plaza
FloridaInvestment salesNews

Limestone, Orion Buy Millenia Plaza Retail Center in Orlando for $74.1 Million

by Katie Sloan

Orlando, Fla. — Limestone Asset Management and Orion Real Estate Group have purchased Millenia Plaza, a 411,503-square-foot shopping center located at 4403-4467 Millenia Plaza Way in Orlando. The seller, North American Development Group (doing business as Millenia Plaza LLC), sold the property for $74.1 million. Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction. Ocean Bank provided an undisclosed amount of acquisition financing in the transaction. Millenia Plaza’s tenant roster includes The Home Depot, BJ’s Wholesale Club, Ashley Furniture, Dick’s Sporting Goods, Total Wine & More and …

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Investment salesKansasNews

Marcus & Millichap Brokers $10.5 Million Sale of Retail Center in Lawrence, Kansas

by Katie Sloan

Lawrence, Kan. — Marcus & Millichap has brokered the sale of Lawrence Marketplace in Lawrence for $10.5 million. The 90,982-square-foot retail center is located at 2525 Iowa St. Anchor tenants at the fully occupied property include Planet Fitness and Office Depot. Zach Turner, Scott Wiles, Mark Ruble, Erin Patton, Craig Fuller and Chris Lind of Marcus & Millichap represented the seller, a Kansas-based limited liability company. The team also secured the buyer, a New York-based limited liability company. 

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Investment salesMinnesotaNews

Upland Arranges $4.5 Million Sale of KinderCare-Occupied Property in Suburban Minneapolis

by Katie Sloan

Lakeville, Minn. — Upland Real Estate Group has arranged the $4.5 million sale of a retail property occupied by KinderCare Learning Center in the Minneapolis suburb of Lakeville. The building is part of Crossroads of Lakeville, a 127,070-square-foot shopping center anchored by Cub Foods. Deborah Vannelli, Keith Sturm and Amanda Leathers of Upland brokered the sale. A local buyer purchased the asset while completing a 1031 exchange. KinderCare operates more than 1,500 early childcare centers in 40 states.

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Murphy-Express
Content PartnersFaris Lee InvestmentsGeorgiaInvestment salesLouisianaNet leaseNews

Faris Lee Brokers Sale of Two Convenience Store Properties in Louisiana, Georgia

by Katie Sloan

Baton Rouge, La. and McDonough, Ga. — Faris Lee Investments has brokered the sale of two convenience store properties located in Louisiana and Georgia. Jeff Conover, Scott DeYoung and Hunter Steffien of Faris Lee represented the undisclosed seller in both transactions, which totaled $8.2 million. Dispositions include a single-tenant property occupied by Murphy Oil under a 20-year, absolute, triple-net ground lease at the intersection of Airline Highway and Old Hammond Highway in Baton Rouge, Louisiana; and a single-tenant property occupied by QuikTrip under a 15-year, absolute, triple-net lease in McDonough, …

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