Investment sales

CaliforniaGrocery-anchoredInvestment salesNews

IRA Capital Sells 157,322-Square-Foot Poinsettia Plaza Shopping Center in Southern California for $66 Million

by Hayden Spiess

Ventura, Calif. — IRA Capital has completed the $66 million sale of Poinsettia Plaza, a 157,322-square-foot shopping center located in Ventura. Tenants at the center, which was 96.5 percent occupied at the time of sale, include Ross Dress for Less, Office Depot, Petco, FedEx, Lamps Plus and Aldi. Recent renovations at the property include modernizations of existing facades, new landscaping and parking lot upgrades. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal.

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GeorgiaInvestment salesNews

Northmarq Arranges $15.2 Million Sale of 73,847-Square-Foot Retail Center in Metro Atlanta

by Hayden Spiess

Peachtree City, Ga. — Northmarq has arranged the sale of Westpark Walk, a 73,847-square-foot retail center located in Peachtree City, roughly 30 miles south of Atlanta. A developer acquired the property, which was fully leased at the time of sale, for $15.2 million. Tenants at the center include Tuesday Morning, Verizon Wireless, State Farm, Firehouse Subs, HOTWORX, and Ranchero Mexican Grill. Jeff Enck and Emery Shane of Northmarq represented the seller, an individual investor, in the transaction.

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CaliforniaInvestment salesNews

Progressive Facilitates $11.9 Million Sale of Gas Station Property in Norco, California

by Hayden Spiess

Norco, Calif. — Progressive Real Estate Partners has brokered the $11.9 million sale of a Chevron station, convenience store and car wash located in Norco. Both the business and property were included in the sale. Victor Buendia of Progressive represented the seller, a Los Angeles-based private investor, in the transaction. Built in 2000 and fully remodeled in 2020, the property features 18 fueling stations, a self-service express car wash and a 22,000-square-foot ExtraMile convenience store. The sale also included two rental units, currently leased to a Valvoline franchisee and a …

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GeorgiaInvestment salesNews

JLL Arranges Two Retail Center Sales in Savannah Totaling $63 Million

by Hayden Spiess

Savannah, Ga. — JLL Capital Markets has arranged the sales of two shopping centers located in Savannah in transactions totaling $63 million. Built in 1986, Savannah Centre comprises 186,514 square feet and was 81 percent leased at the time of sale. Tenants at the property include TJ Maxx, Bed Bath & Beyond, Shoe Carnival, JOANN Fabric and Crafts, Five Below, Rack Room Shoes and Chicken Salad Chick. Chatham Plaza totals 197,605 square feet. Originally built in 1972, the property was renovated in 2001. Tenants at the center, which was 93 …

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Grocery-anchoredInvestment salesNewsOhio

JRW Realty Negotiates Sale of 115,777-Square-Foot Shopping Center in Columbus

by Hayden Spiess

Columbus, Ohio — JRW Realty has negotiated the sale of Walnut Creek Plaza in Columbus for an undisclosed price. An 86,608-square-foot Giant Eagle grocery store anchors the 115,777-square-foot shopping center, which features 13 additional retail and healthcare tenants. Nathan Webb of JRW Realty sourced the buyer, one of JRW’s exclusive institutional buyers. CBRE represented the undisclosed seller.

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Investment salesNew JerseyNews

Marcus & Millichap Brokers $36.5 Million Sale of Shopping Center in Metro Philadelphia

by Hayden Spiess

Marlton, N.J. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the sale of The View at Marlton, a 91,000-square-foot shopping center located in Marlton, roughly 18 miles east of downtown Philadelphia. Paramount Realty Services acquired the property, which was 98 percent occupied at the time of sale, for $36.5 million. Brad Nathanson of IPA arranged the 1031-exchange transaction on behalf of the seller and original developer, a partnership between Abrams Realty & Development and Lazgor Co. Tenants at the property include LA Fitness, AAA, The Malvern School, Truist …

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Investment salesNewsTexas

Hunington Properties Arranges Sale of 12,100-Square-Foot Retail Building in San Antonio

by Hayden Spiess

San Antonio — Austin-based brokerage firm Hunington Properties has arranged the sale of a 12,100-square-foot retail building in San Antonio. Constructed in 2021, the building was fully leased to Action Behavior Center at the time of sale. Gigi Gomel of Hunington Properties represented the seller, a Houston-based limited liability company, in the transaction. Luis Garza of Transwestern represented the Alaska-based buyer.

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Investment salesNet leaseNewsWashington

Newmark Brokers Sales of Two Retail Properties in Washington Totaling 124,660 Square Feet

by Hayden Spiess

Kent and Kennewick, Wash. — Newmark has arranged the sales of two retail properties, totaling 124,660 square feet, in Kent and Kennewick. One property is a 67,240-square-foot vacant former Tops Foods Grocer, located in Kent. The property is part of the Canyon Ridge Shopping Center, which is shadow-anchored by Target, Ross Dress for Less, Old Navy and Petco. Located in Kennewick, the second building is a 57,420-square-foot, single-tenant property that is triple-net leased to Sportsman’s Warehouse. The property is within the Colonnade Shopping Center, which includes Ross Dress for Less, …

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CaliforniaInvestment salesNews

Red Mountain Group Purchases Portfolio of Former Big Lots Stores for $47.5 Million

by Hayden Spiess

Santa Ana, Calif. — Red Mountain Group Inc. has purchased a portfolio comprising 20 vacant Big Lots properties for $47.5 million. Totaling 463,427 square feet, the buildings are located across 20 cities and four states, with 16 of the properties in California. The all-cash transaction also involved an additional 3.5 acres of land for future retail pad development.

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Investment salesNewsTennessee

Marcus & Millichap Arranges Sale of 40,448-Square-Foot Retail Center in Eastern Tennessee

by Hayden Spiess

Greeneville, Tenn. — Marcus & Millichap has arranged the sale of a 40,448-square-foot, multi-tenant retail property located in the Eastern Tennessee city of Greeneville. Dominic Sulo and Brett Winger of Marcus & Millichap represented the seller, a New Jersey-based limited liability company, in the $2.4 million transaction. Dominic Sulo and Samuel Malato of Marcus & Millichap secured and represented the buyer, A Tennessee-based LLC. Jody McKibben assisted in closing the transaction as the broker of record in Tennessee.

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