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. …
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.
