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Investment sales

Sand Hill Plaza
ConnecticutInvestment salesNews

First National Realty Partners Acquires 163,500-Square-Foot Grocery-Anchored Center in Newtown, Connecticut

by Julia Sanders

Newtown, Conn. — First National Realty Partners LLC has acquired Sand Hill Plaza, a 163,500-square-foot property in Newtown. Justin Smith and Chris Peterson of Atlantic Capital Partners represented the undisclosed seller in the transaction. Located at 228 South Main St., Sand Hill Plaza is anchored by a 61,450-square-foot Stop & Shop grocery store, which has been a tenant at the center since it opened in 1990. Other tenants at the property include T.J.Maxx, Mattress Firm, Verizon Wireless, Great Clips and Quest Diagnostics.

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Sweetgrass Corner
Investment salesNewsSouth Carolina

Continental Realty Corp. Purchases Shopping Center in Metro Charleston for $17 Million

by Julia Sanders

Mount Pleasant, S.C. — Continental Realty Corp. (CRC) has purchased Sweetgrass Corner, a 90,000-square-foot neighborhood shopping center in Mount Pleasant, roughly 9 miles outside Charleston. New Market Properties, a subsidiary of Preferred Apartment Communities Inc, sold the property for $17 million. The buyer purchased the property on behalf of Continental Realty Fund V L.P. and a co-investment vehicle related to Fund V, which are both managed by CRC. Built in 1999, Sweetgrass Corner features 13 tenants offering a mix of medical and personal care services, as well as sit-down and …

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East Ridge Crossing
Investment salesNewsTennessee

SRS Brokers Sale of 58,950-Square-Foot East Ridge Crossing Shopping Center in Chattanooga

by Julia Sanders

Chattanooga, Tenn. — SRS Real Estate Partners has brokered the sale of East Ridge Crossing, a 58,950-square-foot, Food Lion-anchored shopping center in Chattanooga. Kyle Stonis and Pierce Mayson of SRS represented the undisclosed seller and Tyler Matthews of Austin Sumner Properties represented the buyer, Hancock White Columns, in the transaction. Built in 1988 and renovated in 2021, East Ridge Crossing was 91 percent leased at the time of sale. The property is situated about seven miles southeast of downtown Chattanooga and just west of Interstate 75.

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Doral Park Centre
FloridaInvestment salesNews

Marcus & Millichap Arranges $11 Million Sale of Doral Park Centre in Metro Miami

by Julia Sanders

Doral, Fla. — Marcus & Millichap has arranged the $11 million sale of Doral Park Centre, a 13,925-square-foot retail strip center in Doral. Edward Romo and Scott Sandelin of Marcus & Millichap represented the seller, an affiliate of IRAS Group, and Kristina Filippone of First City Realty Partners Inc. procured the undisclosed buyer in the transaction. Built in 2017, Doral Park Centre is a seven-suite property that was fully leased at the time of sale to tenants including 5.11 Tactical Miami, PANNA New Latino Food, Ohana Sushi, 107 Beauty Bar …

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Investment salesNew YorkNews

RIPCO Real Estate Brokers $5.6 Million Sale of Long Island Retail Property Leased to CVS/pharmacy

by Julia Sanders

West Hempstead, N.Y. — RIPCO Real Estate has brokered the $5.6 million sale of a 10,125-square-foot retail building located in the Long Island community of West Hempstead. The property is leased to CVS/pharmacy through 2032. A partnership between two locally based limited liability companies sold the property to private investor Kenny Mauer. Stephen Preuss, Kevin Louie, Gene Spiegelman, Kevin Schmitz and Andreas Efthymiou of RIPCO brokered the deal.

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Starbucks
ColoradoInvestment salesNews

Blue West Capital Arranges $3.4 Million Sale of Starbucks Coffee-Occupied Property in Metro Denver

by Julia Sanders

Commerce City, Colo. — Blue West Capital has arranged the $3.4 million sale of a single-tenant retail property occupied by Starbucks Coffee in Commerce City, about 6 miles from Denver. Brandon Gayeski and Robert Edwards of Blue West Capital represented the seller, a Colorado-based partnership. The buyer was a 1031 exchange investor based in Colorado. The 2,340-square-foot property features a drive-thru and was constructed in 2020. Located at 4860 East 60th Ave., Starbucks Coffee occupies the property on a long-term lease.

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Exeter Commons
Investment salesNewsPennsylvania

JLL Arranges Sale of 361,095-Square-Foot Shopping Center in Southern Pennsylvania

by Julia Sanders

Reading, Pa. — JLL Capital Markets has arranged the sale of Exeter Commons, a 361,095-square-foot shopping center anchored by Giant Food and Lowe’s Home Improvement in Reading. Christopher Munley, James Galbally and Colin Behr of JLL represented the undisclosed seller in the disposition of the property to Wharton Realty Group Inc. Completed in 2009, Exeter Commons was 99.5 percent leased at the time of sale to tenants including Ross Dress for Less, PA Wine & Spirits, Five Below, Petco, Staples, Famous Footwear, America’s Best Contacts, Moe’s Southwest Grill, Red Robin, …

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CaliforniaInvestment salesNews

Marcus & Millichap Brokers $1.7 Million Sale of Mobil-Occupied Gas Station Property in Blythe, California

by Julia Sanders

Blythe, Calif. — Marcus & Millichap has brokered the sale of a retail property located at 1900 E. Hobsonway in Blythe near the California-Arizona border. A private investor sold the property to an individual/personal trust for $1.7 million. A Mobil gas station and convenience store occupies the 2,816-square-foot retail property. Bruce Haulley of Marcus & Millichap’s Palm Springs office represented the buyer and seller in the deal.

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Investment salesMinnesotaNews

Arizona Partners Acquires 279,343-Square-Foot Shopping Center in Suburban Minneapolis

by Julia Sanders

Maplewood, Minn. — Arizona Partners has acquired Birch Run Station in Maplewood, about 14 miles from Minneapolis. The 279,343-square-foot shopping center is home to tenants such as Burlington, Jo-Ann and Dollar Tree. CBRE represented the seller, Voya Investment Management, in the transaction.

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Pacific Plaza
CaliforniaInvestment salesNews

Anchor Point Capital Negotiates $16.9 Million Sale of Pacific Plaza Shopping Center in Metro Long Beach

by Julia Sanders

Torrance, Calif. — Anchor Point Capital has arranged the sale of Pacific Plaza, a multi-tenant retail center located at 2382, 2390 and 2396 Crenshaw Blvd. in Torrance, about 15 miles from Long Beach. A private family fund acquired the property from an undisclosed seller for $16.9 million. Woori Bank, Subway and The UPS Store are tenants at the 28,000-square-foot property. Eric Vu of Newport Beach-based Anchor Point Capital handled the transaction.

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