Alpharetta, Kennesaw and Roswell, Ga. — Coro Realty and Pope & Land Enterprises have sold three shopping centers totaling 120,000 square feet in metro Atlanta. The joint venture acquired the properties as a portfolio in February 2020, purchasing them from Muntzing-Sattele. Most recently, the partnership completed the disposition of Brookside Station, a 23,500-square-foot retail center located Alpharetta, a northeast suburb of Atlanta. In August 2022 the partners sold Town Center Oaks, a 52,000-square-foot shopping center in Kennesaw, roughly 30 miles northwest of Atlanta. Mimms Enterprises acquired Mansell Oaks, a 43,000-square-foot …
Investment sales
Vineland, N.J. — Marcus & Millichap has brokered the $19.3 million sale of Maintree Shopping Center, a 138,445-square-foot retail center located in Vineland, approximately 40 miles southeast of Philadelphia. Acme anchors the center, which was originally built in 1996. Other tenants include Boston Market, Burger King, Pizza Hut, Sino Wok and Primo Hoagies. Joseph French Jr., Kodi Traver and Thomas Dalzell of Marcus & Millichap represented the seller, a New Jersey-based limited liability company, in the deal. French also procured the buyer, a California-based private investor.
Blue Springs, Mo. —Copperleaf Village, located in Blue Springs, about 19 miles southeast of downtown Kansas City, has been sold for $6.9 million. The 32,978-square-foot retail center was 82 percent leased at the time of sale. Tenants include medical, dental, restaurant, convenience, fitness and insurance companies. The property was originally built in 1973 and renovated in 2006. Zach Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, a Kansas City-based partnership. The team also procured the buyer, an out-of-state limited liability company.
Friendswood, Texas —Baker Katz has acquired a 20,000-square-foot freestanding retail building in Friendswood, a southeastern suburb of Houston, with plans to reposition the property. According to LoopNet Inc., the building was originally built in 1980 as a pad structure for Baybrook Mall. Ben Brown negotiated the purchase for Baker Katz on an internal basis.
St. Peters, Mo. — GBT Realty has sold The Shoppes of Mid Rivers, a 270,000-square-foot retail center located in St. Peters, roughly 35 miles northwest of downtown St. Louis. Jenel Real Estate purchased the property for $40.7 million. Old Navy recently signed a 15,000-square-foot lease at the center, bringing occupancy to 99 percent. Other tenants include Burlington, Academy Sports, HomeGoods, Marshalls, Ross Dress for Less, Ulta Beauty, Five Below, Outback Steakhouse, Cooper’s Hawk Winery & Restaurant, Pappy’s Smokehouse and Gulf Shores Restaurant & Grill. Amy Sands, Clinton Mitchell and Michael …
Countryside, Ill. — Mid-America Real Estate’s Investment Sales Group has arranged the sale of Salem Square, a 116,992-square-foot shopping center located in Countryside, approximately 17 miles southwest of downtown Chicago. The property was fully leased and managed by Pine Tree at the time of sale. Tenants at the center include TJ Maxx/HomeGoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy and Magic Nails. Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction.
Peachtree City, Ga. — Northmarq has arranged the $3.3 million sale of Governor’s Walk, a 21,280-square-foot shopping center located in Peachtree City, roughly 30 miles southwest of Atlanta. The property was fully leased at the time of sale, to tenants including Car Wash, Donut Shop, Peachtree Pawn, Fresh Smoothie Café, Mary Nails, Curves, Carolina Hemp Co., Southern Crescent Spa, Peachtree Wax Studio, La Plaza R&R Inc., Flooring Store, Men’s World Barber, Rene’e Paige Salon and M&R Alterations. Jeff Enck of Northmarq represented the Florida-based seller in the transaction. Enck also …
Westborough, Mass. — Grossman Development Group (GDG) has acquired Bay State Commons, a 261,672-square-foot retail center located in Westborough, approximately 30 miles west of Boston. Roche Bros. anchors the property, and other tenants include Boston Interiors, Reliant Medical, Boston Ski & Tennis, Ted’s Montana Grill and Panera Bread. GDG purchased the property with a partnership doing business as Baystate Westborough LLC, which includes Mark Reardon. Todd Alexander of Kelleher & Sodowsky handles leasing at the development.
Long Beach, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of El Dorado Shopping Center, a retail property located in Long Beach. A partnership managed and represented by Milan Capital Management acquired the center from DPI Retail for $21.2 million. Grocery Outlet and Dollar Tree anchor the 74,500-square-foot shopping center. Built in 1965 and renovated in 2003, the property was 93 percent occupied at the time of sale. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller in the transaction.
Frisco, Texas —STRIVE has arranged the sale of The Shops at Eldorado, a 13,522-square-foot retail strip center located in Frisco. Built in 2016, the center was fully leased at the time of sale to tenants including Sugar Boy Donuts, Smoke Central and Discovery Kids Dentistry. Hudson Lambert and Jason Vitorino of STRIVE represented the seller, a Dallas-based developer, in the transaction.