San Francisco — BH Properties has acquired Anchorage Square, a 322,000-square-foot mixed-use property located in Fisherman’s Wharf in San Francisco. Built in 1974 and situated on 2.6 acres, the development features 63,000 square feet of retail space, as well as a 128-room hotel, 28,000 square feet of office space and a 685-space parking garage. The buyer plans to implement an extensive capital improvement program, which will include upgraded façades, landscaping, lighting, signage, wayfinding and tenant and common areas. The firm will also explore alternative uses for the office space such as …
Investment sales
Salisbury, Md. — KLNB has brokered the $14.2 million sale of College Square Shopping Center in Salisbury. Tenants at the center, which was 97 percent leased at the time of sale, include Dollar Tree, BioLife Plasma, Ace Hardware and Planet Fitness. Chris Burnham, Vito Lupo, Andy Stape and Jake Furnary of KLNB’s Retail Capital Markets team arranged the sale on behalf of the seller, Rockford Capital Partners, which has owned the property since 2015.
Lumberton, N.C. — Legacy Realty Group Advisors has arranged the $7.1 million sale of Northeast Plaza, a 53,867-square-foot shopping center in Lumberton. Built in 2000, the property was leased to 10 tenants at the time of sale. Jacob Baruch of Legacy represented the undisclosed seller in the transaction. Lisa Schaefer of LRS Management represented the buyer.
New Orleans — SRSA Commercial Real Estate has arranged the sale of Algiers Plaza, a 228,000-square-foot shopping center located in New Orleans. Tenants at the property include Winn-Dixie, Walgreens, Ross Dress for Less, T.J. Maxx, Petco, Five Below and Chick-fil-A. Steve Reisig, Kirsten Early and Christopher Robertson Jr. of SRSA, along with Scott DeYoung and Jeff Conover of Faris Lee Investments, represented the seller, N3 Real Estate, in the transaction.
Houston — The Blue Ox Group has brokered the sale of Centre at Oak Park, a four-tenant retail center located in Houston. Tenants at the property include Jimmy Johns and Smart Financial Credit Union. Burdette Huffman of Blue Ox represented the seller in the transaction, and Gigi Wenjie Wang of The Sunet Group represented the buyer.
Irving, Texas — A joint venture between Edens and CBRE Investment Management has purchased MacArthur Park, a 425,612-square-foot retail center in Irving. Target, Kroger, Office Depot, T.J. Maxx, Michaels, Ross Dress for Less and Ulta Beauty are anchor tenants at the center, which was built in 2001.
Newington, N.H. — Morgan Stanley has sold Mall at Fox Run, a 250,000-square-foot mall located in Newington, to Torrington Properties. Tenants at the property include Seacoast Cars & Coffee, Aeropostale, American Eagle, Bath & Body Works, H&M, LOFT, Men’s Wearhouse and Yankee Candle. The buyer previously completed the $11.5 million purchase of a 130,400-square-foot vacant former Sears store at the property in October 2022 and has plans to transform the mall into a mixed-use development.
East Norriton, Pa. — JLL Capital Markets has brokered the $23.1 million sale of Dekalb Plaza, a 178,356-square-foot shopping center located in East Norriton, roughly 22 miles outside Philadelphia. Urban Air and Big Lots anchor the property, which was 98 percent occupied at the time of sale. Other tenants at the center include Goodwill, Chick-fil-A, Applebee’s, Sally Beauty and Celebree School. Christopher Munley, James Galbally, Colin Behr and James Graf of JLL represented the seller, Broad Street Realty, in the transaction. Abrams Realty & Development acquired the property.
Oxnard, Calif. — Marcus & Millichap Capital Corp. has arranged a $7.5 million loan for the acquisition of a 37,500-square-foot single-tenant retail property located in Oxnard. Esporta Fitness occupies the building, which was constructed in 1970 and renovated in 2017. Ron Balys secured the financing on behalf of the buyer.
Upper Marlboro, Md. — Finmarc Management Inc. has sold Largo Town Center, a 280,000-square-foot retail center in the Upper Marlboro suburb of Washington, D.C., for $70 million. The investment firm purchased the shopping center in 2019 when it was 80 percent occupied. John Donnelly of John C. Donnelly Inc. and Arthur Benjamin and Alex Alperstein of AdvisoRE LLC represented the buyer, an investment group led by Bethesda-based KPI Commercial LLC, in the transaction. Joseph Hoffman of Kelley Drye Warren provided legal services to Finmarc. Tenants at the property include Marshalls, Shoppers …