Investment sales

Heartland-Dental-Meridian-Idaho
IdahoInvestment salesNet leaseNews

Hanley Arranges Sale of 4,200-Square-Foot Single Tenant Retail Property in Metro Boise

by Hayden Spiess

Meridian, Idaho — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed 4,200-square-foot retail building located in Meridian, roughly 11 miles west of Boise. The single-tenant property is occupied by Heartland Dental, operating as Dental Care at Verona, on a triple-net-lease basis. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the buyer, a private investor, in the 1031 exchange transaction. Andrea Nilson of Cushman & Wakefield represented the seller and developer, Northwest Development Group.

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Shops at Walnut Creek
ColoradoInvestment salesNews

Westwood Financial Buys 225,224-Square-Foot Shops at Walnut Creek in Denver

by Hayden Spiess

Denver — Westwood Financial has purchased The Shops at Walnut Creek, a 225,224-square-foot shopping center in Denver. At the time of sale, center was 94 percent occupied by tenants including TJ Maxx, HomeGoods, PetSmart, Michaels, Old Navy, Dollar Tree, Qdoba, Buffalo Wild Wings, Massage Envy, LensCrafters, Sephora and Lash Lounge. Brad Lyons of CBRE represented the seller, InvenTrust Properties, in the deal.

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huron-wells
IllinoisInvestment salesNews

Mid-America Brokers Sale of 17,343-Square-Foot Retail Property in Chicago’s River North

by Hayden Spiess

Chicago — Mid-America Real Estate Corp. has brokered the sale of Huron & Wells, a 17,343-square-foot retail property located in Chicago’s River North neighborhood. A newly renovated CVS/pharmacy anchors the property, which is home to tenants including aesthetic dermatology clinic Laser Away, Japanese restaurant Cocoro and fitness concept Vibez Fit. Joe Girardi and Emily Gadomski of Mid-America represented the Chicago-based private seller in the transaction. Josh York of Syndicated Equities represented the California-based 1031 exchange buyer.

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Livingston-Market-Place-Lutz-Fla
FloridaGrocery-anchoredInvestment salesNews

Fairway Purchases 64,441-Square-Foot Shopping Center in Tampa Suburb

by Hayden Spiess

Lutz, Fla. — Fairway Investments has acquired Livingston Market Place, a 64,441-square-foot shopping center located in the northern Tampa suburb of Lutz. Situated on 32.8 acres, the property is anchored by Publix. Other tenants at the center, which was completed in 2022 and fully leased at the time of sale, include Heartland Dental, Papa Johns, Prime Barber and 40 Thieves Irish Pub. Bryan Belk and John Tennant of Franklin Street arranged the sale on behalf of the seller/developer, a partnership between Dunphy Development and Batson-Cook Development.

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Center-Pointe-Menifee-CA
CaliforniaGrocery-anchoredInvestment salesNews

Tourmaline Capital Sells Center Pointe Retail Center in Southern California for $24.6 Million

by Hayden Spiess

Menifee, Calif. — Tourmaline Capital has completed the disposition of Center Pointe, a newly developed shopping center located in Menifee. A private 1031 exchange buyer acquired the center for $24.6 million. Sprouts Farmers Market, Wendy’s, Olive Garden, Tacos & Tequila and Paris Nails are tenants at the 41,461-square-foot property. At the time of sale, the retail center was 96 percent leased. Gleb Lvovich, Daniel Tyner and Geoff Tranchina of JLL Retail Capital Markets represented the seller in the deal.

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Sprouts-Mesa-Ariz
ArizonaGrocery-anchoredInvestment salesNews

Marcus & Millichap Brokers $18.5 Million Sale of Shopping Center in Mesa, Arizona

by Hayden Spiess

Mesa, Ariz. — Marcus & Millichap has brokered the $18.5 million sale of Sprouts Center, a 55,615-square-foot shopping center located in Mesa. Sprouts Farmers Market anchors the property. Marc Irvin of Marcus & Millichap represented the seller, an Arizona-based private investor. A California-based family trust acquired the center in a 1031 exchange. Ryan Sarbinoff of Marcus & Millichap acted as broker of record and assisted in closing the transaction.

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FloridaInvestment salesMixed-useNews

Cushman & Wakefield Arranges $15 Million Sale of Mixed-Use Property in Palm Beach

by Hayden Spiess

Palm Beach, Fla. — Cushman & Wakefield has brokered the sale of a mixed-use property comprising one two-story, 30,648-square-foot building in Palm Beach. Scott O’Donnell, Mike Ciadella, Dominic Montazemi, Miguel Alcivar and Greg Miller of Cushman & Wakefield represented both the buyer and seller in the $15 million transaction. An entity doing business as 15650 and 15700 Don Julian Road LLC purchased the property from an entity doing business as 2875 S. Ocean Boulevard LLC. The building, which was built in 1982 and was 87 percent leased at the time …

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Pinole-Square-Pinole-CA
CaliforniaGrocery-anchoredInvestment salesNews

Balboa Retail Partners Purchases 91,000-Square-Foot Retail Center Near San Francisco

by Hayden Spiess

Pinole, Calif. — Balboa Retail Partners has purchased Pinole Square, a shopping center located in Pinole, approximately 20 miles northeast of San Francisco. A private family sold the property for an undisclosed price. Safeway and CVS/pharmacy have anchored the 91,000-square-foot retail center for more than 50 years. Nicholas Bicardo and Cheyne Bloch of Newmark facilitated the transaction.

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Hinesville-Central
GeorgiaInvestment salesNews

Marcus & Millichap Brokers $10.3 Million Sale of Shopping Center Near Savannah, Georgia

by Hayden Spiess

Hinesville, Ga. — Marcus & Millichap has brokered the $10.3 million sale of Hinesville Central, a 41,800-square-foot retail center located in Hinesville, roughly 45 miles southwest of Savannah. The property is shadow-anchored by Walmart Supercenter. Al Taf of Marcus & Millichap’s Atlanta office represented the seller, a 104-year-old private company based in Georgia, in the transaction. Brian Munn, also with Marcus & Millichap’s Atlanta office, procured the buyer, a private investor.

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IllinoisInvestment salesNews

Tartan Realty Sells 12,000-Square-Foot Retail Strip Center in Springfield, Illinois

by Hayden Spiess

Springfield, Ill. — Marcus & Millichap has arranged the sale of a 12,000-square-foot retail strip center in Springfield for an undisclosed price. FedEx Office and Verizon are the anchor tenants at the fully leased property. Brian Parmacek of Marcus & Millichap represented the seller, Chicago-based Tartan Realty Group Inc.

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