Investment sales

Big-Blue-Marble-Academy-Charlotte
Investment salesNet leaseNewsNorth Carolina

Marcus & Millichap Arranges $3.3 Million Sale of Child Care Property in Charlotte, North Carolina

by Hayden Spiess

Charlotte, N.C. — Marcus & Millichap has arranged the $3.3 million sale of Big Blue Marble Academy, a net-leased childcare property located in Charlotte. Dominic Sulo of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a New Jersey-based limited liability company, and secured the 1031-exchange buyer, a Chicago area multifamily LLC. Andrean Angelov and Ryan D. Engle of Marcus & Millichap and Benjamin Yelm, the North Carolina broker of record, assisted in closing the transaction.

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Quick-Quack-Car-Wash-Moreno-Valley-Calif
CaliforniaInvestment salesNet leaseNews

Hanley Brokers $3.2 Million Pre-Sale of Car Wash Property in Southern California

by Hayden Spiess

Moreno Valley, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $3.2 million pre-sale of a new construction car wash property located in Moreno Valley, within the Moreno Valley Marketplace shopping center. Quick Quack Car Wash will occupy the property on a triple-net ground lease. Bill Asher and Jeff Lefko of Hanley — in association with Jason Gordon of Epsteen & Associates — arranged the sale on behalf of the developer and seller, Inland Iris Partners Inc., an affiliate of The Lynch Group Inc. Amy Kim of Hanbada …

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36-NoDa_Charlotte
Investment salesNewsNorth Carolina

Stream Realty Brokers $10.3 Million Sale of Charlotte Retail Center

by Hayden Spiess

Charlotte, N.C. — Stream Realty Partners has brokered the $10.3 million sale of 36 & NoDa, a 26,447-square-foot retail center located in Charlotte’s North Davidson (NoDa) neighborhood. AJ Capital Partners purchased the center from Ascent Real Estate Capital. Jared Londry and Alex Olofson of Stream Realty represented the seller in the transaction. 36 & NoDa was fully leased at the time of sale to tenants including Salud Cerveceria and Neighborhood Theatre.

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Investment salesMassachusettsNews

Matthews Brokers $7.7 Million Sale of Walgreens Property in Boston Suburb

by Hayden Spiess

Middleton, Mass. — Matthews Real Estate Investment Services has brokered the $7.7 million sale of a Walgreens property located in Middleton, a northern suburb of Boston. Newport Property Corp. sold the property to a New York-based private investor in a 1031-exchange transaction. Grant Korn and Maxx Bauman of Matthews represented the seller.

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Investment salesMinnesotaNet leaseNewsRestaurants

Marcus & Millichap Brokers $2.3 Million Sale of Buca Di Beppo Restaurant Property in Minneapolis Suburb

by Hayden Spiess

Eden Prairie, Minn. — Marcus & Millichap has brokered the $2.3 million sale of an 8,276-square-foot restaurant property in the Minneapolis suburb of Eden Prairie. Buca Di Beppo occupies the property on a net-lease basis. Tom Gommels of Marcus & Millichap represented the seller, a limited liability company. Alvin Mansour and Sim Liberow, also of Marcus & Millichap, represented the buyer, an LLC completing a 1031 exchange.

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Mesa Gateway
ArizonaInvestment salesNews

Phoenix Commercial Advisors Brokers $11.8 Million Sale of Mesa Gateway Retail Property in Arizona

by Hayden Spiess

Mesa, Ariz. — Phoenix Commercial Advisors has arranged the $11.8 million sale of Mesa Gateway, a three-building retail property located in Mesa. Totaling 31,824 square feet, the three buildings were fully leased to tenants including Verizon, Comerica, Jimmy John’s Sandwiches, Fit Body Boot Camp and Boba CuTea. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the transaction.

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Grocery-anchoredInvestment salesNewsPennsylvania

JLL Arranges Sale of 134,980-Square-Foot Shopping Center in Philadelphia Suburb

by Hayden Spiess

Warrington, Pa. — JLL Capital Markets has arranged the sale of Creekview Center, a 134,980-square-foot shopping center located in the northern Philadelphia suburb of Warrington. A grocery store anchors the property, and other tenants include Chipotle Mexican Grill, Bank of America and Petco. Target and Lowe’s shadow anchor the center. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the undisclosed seller in the transaction. Goodman Properties acquired the center.

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7-Eleven
CaliforniaInvestment salesNews

Hanley Brokers Sale of Two 7-Eleven Properties Totaling $10.2 Million in California

by Hayden Spiess

Indio and Perris, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sales of two newly constructed properties in California, both leased to 7-Eleven, for a total of $10.2 million. Bill Asher and Jeff Lefko of Hanley represented the sellers, entities doing business as TSC Perris LLC and TSC Indio Golf Center LLC, in both transactions and procured the 1031-exchange buyers. The first property, comprising 3,494 square feet in Indio, was acquired by a private investor for $5.2 million. Rick Lazar of Lee & Associates represented the buyer. …

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IllinoisInvestment salesNewsRestaurants

Lee & Associates Negotiates Sale of 12,500-Square-Foot Former Restaurant Property in Metro Chicago

by Hayden Spiess

Schaumburg, Ill. — Lee & Associates has negotiated the sale of a 12,500-square-foot property formerly occupied by Frankly Yours restaurant in Schaumburg, approximately 30 miles northwest of Chicago. Rick Scardino and Michael Petrik of Lee & Associates represented the buyer, the Village of Schaumburg. Attorney Steven Dobrofsky represented the seller, Chicago Title Land Trust Co.

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Investment salesMixed-useNewsOhio

Nicol Investment Sells The Banks Mixed-Use Project in Downtown Cincinnati for $177 Million

by Hayden Spiess

Cincinnati — Nicol Investment Co. has sold the Riverfront Portfolio at The Banks, a mixed-use development in downtown Cincinnati, to Crawford Hoying. The sales price was not disclosed, but the Cincinnati Business Courier reports the property traded for approximately $177 million. The project consists of two multifamily properties totaling 592 units, Current at the Banks and Radius at the Banks, in addition to approximately 100,000 square feet of ground-floor retail space. The properties are located in the city’s Central Business District, nestled between Great American Ballpark (home of the MLB’s …

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