Tysons, Va. — Avison Young has brokered the sale of a 32,857-square-foot, single-tenant retail property located in Tysons, a western suburb of Washington, D.C. An institutional buyer acquired the building for $20.4 million. Jonathan Hipp, Richard Murphy and Timothy Farrell of Avison Young represented the seller, an entity doing business as Qualified Opportunity Fund LLC. REI Coop occupies the property on a net-lease basis.
Upper Marlboro, Md. — KLNB has arranged the $10.8 million sale of Marlboro Square, a 92,649-square-foot shopping center located in Upper Marlboro, a suburb of Washington, D.C. Vito Lupo, Chris Burnham, Andy Stape and Jake Furnary of KLNB represented the seller, an entity doing business as Marlboro Investors LLC, in the transaction. Renaud Consulting represented the undisclosed buyer. Marlboro Square was fully leased at the time of sale to tenants including Weis, Advance Auto Parts and Dollar Tree, as well as medical, fitness and food-and-beverage tenants.
Ypsilanti, Mich. — Northmarq has arranged the $2.6 million sale of a single-tenant retail property located in Ypsilanti, roughly 8 miles southeast of Ann Arbor. AMERCO Real Estate Co. acquired the property, which sits on 11 acres and totals 91,743 square feet. The building was formerly leased to At Home. Isaiah Harf of Northmarq’s Chicago office represented the seller, a New York-based institutional investor, in the transaction.
Batavia, Ill. — Kimco Realty has sold Wind Point Shopping Center, a 274,282-square-foot retail center located in Batavia, a western suburb of Chicago. PMAT acquired the property for $20.5 million. Amy Sands, Clinton Mitchell and Michael Nieder of JLL arranged the transaction on behalf of Kimco. Built in 1999, the retail center was 72.5 percent occupied at the time of sale. Aldi and Hobby Lobby anchor the property. Other tenants include Kohl’s, Office Max, Petland, Chili’s, Mattress Firm, AT&T and Swordfish Sushi.
Euless, Texas — Faris Lee Investments has arranged the $8.7 million sale of an 11,620-square-foot retail building located in the central metroplex city of Euless. The property, which is an outparcel building to the 194-acre Glade Parks Town Center mixed-use development, was fully leased at the time of sale to Sleep Number, Salata, Jersey Mike’s, LoveSac and Total Men’s Primary Care. Jeff Conover and Scott DeYoung of Faris Lee represented the buyer, a family office based in the Midwest that acquired the asset via a 1031 exchange, in the transaction. …
Simi Valley, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Simi Valley Promenade, an 82,366-square-foot shopping center located in Simi Valley. A private investor represented by Avi Narang of BRC Advisors acquired the property for $19.6 million. Bill Asher, Jeff Lefko and Ed Hanley of Hanley represented the seller, Toibb Enterprises. Built in 1981, the property was 92 percent leased at the time of sale to tenants including Smart & Final, Goodwill, Del Taco, Denny’s, Chi Chi’s Pizza and H&R Block.
Lawndale, Calif. — Beta Agency has brokered the sale of Lawndale Plaza, a retail center located approximately 20 miles outside of Los Angeles in Lawndale. A private entity operating in a 1031 exchange acquired the property for $14 million. The center was fully leased at the time of sale to tenants including Smart & Final, Subway, Wingstop, Panda Express, Daily Nails & Spa and Wells Fargo. Richard Rizika and Vanessa Zhang of Beta represent the undisclosed seller, a private shopping center owner, in the transaction.
Pooler, Ga. — Northmarq has arranged the $7.3 million sale of Shops at Tanger Parkway, a 15,600-square-foot retail center located in the Savannah-area community of Pooler. The property was fully leased at the time of sale to tenants including Tropical Smoothie Café, Tin Drum Asian Kitchen, LAX, T-Swirl Crepe, Wayback Burgers, Which Wich?, America’s Best Contacts & Glasses and Pita Mediterranean Street Food. David Annett and Anne Perrault of Northmarq represented the seller, a Utah-based developer, in the transaction. Mark Lovering of Northmarq represented the buyer, a private equity firm …
Long Beach, Calif. — Tova Capital has purchased a 34,500-square-foot retail center located in Long Beach, approximately 25 miles south of Los Angeles. Jared Swedelson of NAI Capital represented Tova in the $6.2 million transaction. The property, which was fully occupied at the time of sale by Trademark Brewing and climbing gym Long Beach Rising, features two buildings comprising approximately 17,000 square feet each. Sheva Hosseinzadeh of Coldwell Banker Commercial BLAIR represented the undisclosed seller.
San Antonio — Fifth Corner has purchased South Bank, a 46,704-square-foot shopping center located in San Antonio on the San Antonio River Walk. Tenants at the property, which was fully leased at the time of sale, include Hard Rock Café, The County Line Bar-B-Q, Paesano’s, Cowboy’s Alamo City Harley-Davidson, Ben & Jerry’s, Howl at the Moon, Merkaba and Fat Tuesday. Chris Gerard, Ryan West, Barry Brown, Erin Lazarus and Megan Babovec of JLL Capital Markets arranged the sale on behalf of the undisclosed seller.
