Watertown, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Plaza at Salmon Run, a 68,761-square-foot shopping center located in the upstate New York community of Watertown. Hannaford anchors the center, accounting for 76 percent of the gross leasable space with a lease that runs through 2028. Other tenants include Red Robin, boating specialist West Marine and salon Zoom Tan. Jim Koury led an IPA team that represented the buyer and seller, both of which requested anonymity, in the transaction.
Clermont, Fla. — A single-tenant restaurant property located in Clermont, approximately 25 miles west of Orlando, has been sold for $3.3 million. The building is occupied by Zaxby’s on a net-lease basis. Dominic Sulo and Benjamin Bach of Marcus & Millichap arranged the 15-year sale-leaseback on behalf of the seller, an undisclosed limited liability company. The team also secured and represented the buyer, a Texas-based LLC. Ryan Nee, Florida broker of record, assisted in closing the transaction.
Coeur d’Alene, Idaho — Marcus & Millichap has arranged the sale of Ironwood Square, a 105,406-square-foot shopping center located in Coeur d’Alene in northwest Idaho. Staples and Rite Aid anchor the property, which was 96.2 percent occupied at the time of sale. Other tenants at the center include Holiday’s Hallmark, Wells Fargo, Tesoro Fuel Center, Beyoutiful Hot Yoga and Norco Medical. Kobe Furqueron of Marcus & Millichap represented the seller, an entity doing business as Ironwood Partners LLC, in the transaction. Allan Friedman of Westlake Associates procured the buyer, an …
St. Augustine, Fla. — JLL Capital Markets has arranged the $24.1 million sale of Parkway Village at St. Johns, a 52,070-square-foot retail center located in St. Augustine. Danny Finkle, Alex Sharrin, Eric Williams, Jorge Portela, Jeff Cicurel and Kim Flores of JLL brokered the sale on behalf of the developer and seller, a joint venture between Stiles Corp. and Cantrell & Morgan. Built in 2022, the property was fully leased at the time of sale. A 52,070-square-foot Publix anchors the center. Other tenants include Supercuts, Orange Theory Fitness and The …
Littleton, Colo. — Blue West Capital has arranged the acquisition of Shops at Belleview, a net-leased retail building located in Littleton, approximately 10 miles south of Denver. A Hawaii-based 1031 exchange investor acquired the property from an undisclosed seller for $4 million. Shops at Belleview comprises two structures totaling 7,359 square feet and was fully occupied at the time of sale. Tenants include Black Rock Coffee, WingStop, Marco’s Pizza, Metro by T-Mobile and Trinity Nails & Spa. Bryce McNeely of Blue West Capital represented the buyer in the deal.
Tucson, Ariz. — First Washington Realty has completed the disposition of River Center, a 107,508-square-foot retail center located in Tucson, to a private investor for $31.1 million. At the time of sale, the property was fully leased to anchor Whole Foods Market and other tenants including Petco, Walgreens, Tenet Healthcare, Childtime Childcare and Orange Theory Fitness. Patrick Dempsey, Geoff Tranchina and Patrick Anthon of JLL Capital Markets represented First Washington in the transaction.
Seekonk, Mass. — Atlantic Capital Partners, a division of Atlantic Retail, has arranged the sale of Ann & Hope Plaza, a 107,597-square-foot shopping center located in Seekonk, roughly six miles southeast of Providence. Harbor Freight Tools, Petco and Bed Bath & Beyond anchor the center, which was 86 percent leased at the time of sale, though Bed Bath & Beyond plans to shutter this store as part of a larger wave of closures. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented …
Mount Pocono, Pa. — Agora Commercial has acquired Mount Pocono Plaza, a 195,735-square-foot shopping center located in the northeastern Pennsylvania community of Mount Pocono, for $17 million. Weis anchors the property, and other tenants include Ollie’s Bargain Outlet, Harbor Freight, Planet Fitness and Dollar Tree. The center’s occupancy rate at the time of sale was roughly 90 percent. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Heidenberg Properties Group, in the transaction.
Newport Beach, Calif. — RealSource Group brokered sales of single-tenant express car wash properties totaling over $100 million last year. The transactions represented a mix of sale-leasebacks, built-to-suits/presales and ground leases across four brands. Properties included in the sales were located across eight states in the Midwest, South and Southeast. “Private individual buyers have become increasingly familiar and comfortable with this asset type for long-term investment and were eager to take advantage of the 100 percent bonus depreciation benefits in 2022, before the depreciation amount was reduced to 80 percent …
Flower Mound, Texas — STRIVE has brokered the sale of Cross Timbers Village, a 19,333-square-foot shopping center located in Flower Mound in the Dallas-Fort Worth area. Tom Thumb anchors the property, which was 100 percent leased at the time of sale. Other tenants at the center include Great Clips, Palio’s Pizza Café, New View Optometry and Happy Pediatric Dental. Hudson Lambert of STRIVE represented the seller, an undisclosed California investor, in the transaction.