Viera, Fla. — WS Development and PGIM Real Estate have acquired The Avenue Viera, a 550,000-square-foot open-air retail center in Viera. Situated within the 43,000-acre master-planned Viera community, the property features more than 80 retail, restaurant and entertainment tenants. WS Development will assume management of the center.
Darien, Ill. — Mid-America Real Estate Corp.’s Investment Sales Group has brokered the sale of Darien Shopping Center, a 46,582-square-foot retail center located in the Chicago suburb of Darien. The property was fully leased at the time of sale to tenants including American Freight, Concentra Urgent Care, Chuck E. Cheese and World Star Nails & Spa. Emily Gadomski and Rick Drogosz of Mid-America brokered the sale on behalf of a private seller.
El Centro, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.4 million sale of a single-tenant retail property located in El Centro. The 2,940-square-foot building is occupied by 7-Eleven on a 15-year, triple-net ground lease. Bill Asher and Jeff Lefko of Hanley represented the seller, Imperial Retail Investments LLC, in the transaction. A self-represented, California-based private investor purchased the property.
McKinney, Texas — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5 million acquisition loan for an undisclosed retail property located in the northern Dallas suburb of McKinney. A medical clinic and dollar store anchor the property, which was built in 2020. Adam Pike of MMCC arranged the debt.
Huntsville, Ala. — Albanese Cormier has acquired Valley Bend at Jones Farm, a 430,792-square-foot shopping center located in Huntsville. Tenants at the property include HomeGoods, Dick’s Sporting Goods, Hobby Lobby, Marshalls and PetSmart. A separately owned SuperTarget and 10 outparcels are also located at the center, which spans 57.8 acres and attracts 6 million annual visitors.
Lewisville, Texas — Axiom Capital Corp. has arranged a $6.4 million permanent, fixed-rate loan for the acquisition of a single-tenant retail property located in Lewisville, roughly 30 miles northwest of Dallas. A specialty grocer occupies the 48,427-square-foot building, which is situated on 3.2 acres.
Asheville, N.C. and Columbia, S.C. — Benderson Development has purchased two single-tenant retail properties located at 120 Merrimon Ave. in Asheville and 4516 Forest Drive in Columbia from CIM Group. Both properties are leased to grocer Trader Joe’s.
Flagstaff, Ariz. — Faris Lee Investments has arranged the $23.5 million sale of The Marketplace, a 268,000-square-foot shopping center located in Flagstaff. Tenants at the property include Petco, Best Buy, World Market, Marshall’s, Old Navy and Bealls Outlet. Don MacLellan, Jeff Conover and Scott DeYoung of Faris Lee represented the seller, Macerich, in the all-cash transaction. A California-based 1031 investor purchased the property.
Memphis, Tenn. — JLL Capital Markets has brokered the $18.4 million sale of Summer Center, a retail center in Memphis. Built in 1957, the property comprises 136,673 square feet and was renovated in 1992 and 2008. Kroger, Ross Dress for Less, Five Below and Aaron’s anchor the center, which was 97 percent leased at the time of sale. Jim Hamilton, Brad Buchanan and Andrew Kahn represented the seller, a joint venture between Forge Capital Partners and The Sembler Co. United Properties Corp. acquired the property.
Spencerport, N.Y. — Legacy Realty Group Advisors has arranged the sale of Spencerport Village Plaza, a 99,306-square-foot shopping center located in Spencerport, roughly 11 miles outside Rochester. Tops anchors the property. Daniel Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
