Investment sales

Colonial-Palms-Plaza-Pinecrest-Fla
FloridaInvestment salesNews

Limestone, Orion Purchase Colonial Palms Plaza Shopping Center in Metro Miami for $70.5 Million

by Hayden Spiess

Pinecrest, Fla. — Limestone Asset Management and Orion Real Estate Group have purchased Colonial Palms Plaza, a 188,389-square-foot retail center located in Pinecrest, roughly 20 miles southwest of Miami. The joint venture, doing business as Orion Colonial Plaza LLC, acquired the property for $70.5 million. The property comprises seven buildings and 29 tenants, including Marshalls, HomeGoods, PetSmart, Old Navy, Party City, Five Below, Visionworks, CycleBar, Panera Bread and Miller’s Ale House. Kevin Sanz of Orion represented the buyers, and Eric Williams of JLL represented the seller, MetLife Investment Management, in …

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Greentree-Plaza-Everett-WA
Investment salesNewsWashington

CBRE Negotiates $23.7 Million Sale of Greentree Plaza in Metro Seattle

by Hayden Spiess

Everett, Wash. — CBRE has arranged the sale of Greentree Plaza, a shopping center located at in Everett, roughly 30 miles north of Seattle. ACF Property Management sold the retail center to Transnational Management for $23.7 million. Built between 1998 and 2004, Greentree Plaza comprises 83,035 square feet of retail space. At the time of sale, the property was 96 percent leased to 18 tenants, including Chipotle Mexican Grill, Starbucks Coffee, Sportsman’s Warehouse, Jamba Juice, Visionworks, Bank of America, Subway and Supercuts. The plaza shares a parking lot with a …

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East-Drive-Shopping-Center-Arbutus-Md
Investment salesMarylandNews

Neuman Facilitates $5.7 Million Sale of Retail Center in Metro Baltimore

by Hayden Spiess

Arbutus, Md. — Neuman Commercial Group has arranged the sale of East Drive Shopping Center, a 65,155-square-foot retail center located in Arbutus, approximately eight miles outside of Baltimore. An affiliate of Bien/Paul Ventures sold the property to an undisclosed buyer for $5.7 million. The property was 72 percent occupied at the time of sale to tenants including Save‐A‐Lot, Dollar General, Pizza Boli’s and Cricket Wireless. Gil Neuman of Neuman represented the seller and procured the buyer in the transaction.

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Loyal-Plaza-Williamsport-Pa
Grocery-anchoredInvestment salesNewsPennsylvania

FNRP Purchases 289,000-Square-Foot Shopping Center in Central Pennsylvania

by Hayden Spiess

Williamsport, Pa. — First National Realty Partners (FNRP) has acquired Loyal Plaza, a 289,000-square-foot shopping center located in Williamsport. A 67,000-square-foot Giant Food anchors the property, which is leased to tenants including Hobby Lobby, Planet Fitness, Rite Aid, Advance Auto Parts and Truist Bank. Colin Behr and Chris Munley of JLL represented the undisclosed seller in the transaction.

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Lewistown-Plaza-Burnham-Pa
Grocery-anchoredInvestment salesNewsPennsylvania

Northpath Investments Sells 177,752-Square-Foot Pennsylvania Retail Center

by Hayden Spiess

Burnham, Pa. — Northpath Investments has sold Lewistown Plaza, a 177,752-square-foot retail center located in Burnham. Axiom Realty acquired the property, which was 94 percent occupied at the time of sale. Weis Markets anchors the center, which features tenants including JCPenney, Dunham’s Sports, Geisinger Health and Citizens Bank. Bennett Williams represented Northpath in the transaction.

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Crossraods-Shopping-Center_Statesville-NC
Investment salesNewsNorth Carolina

SRS Arranges Sale of Crossroads Shopping Center in Metro Charlotte

by Hayden Spiess

Statesville, N.C. — SRS Real Estate Partners’ Investment Property Group has brokered the sale of Crossroads Shopping Center, a 117,224-square-foot retail center located in the Charlotte suburb of Statesville. River City Capital purchased the center for an undisclosed price. Situated on 14.1 acres and shadow-anchored by a Walmart Supercenter, Crossroads was leased at the time of sale to tenants including Big Lots, Burkes Outlet, Dollar Tree, American Deli, rue21, Shoe Dept., Bath & Body Works and GNC. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller in …

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2551-San-Ramon-Valley-Blvd-San-Ramon-CA
CaliforniaInvestment salesMixed-useNews

University Avenue Partners Acquires 51,149-Square-Foot Mixed-Use Property Near San Francisco

by Hayden Spiess

San Ramon, Calif. — University Avenue Partners has purchased a mixed-use property located in San Ramon, approximately 40 miles east of San Francisco. Terms of the transaction were not released. At the time of sale, the 52,149-square-foot property was 90 percent leased to a mix of office and retail tenants. Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak of Newmark facilitated the transaction. Nicholas Bicardo of Newmark advised on the retail component of the sale.

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Investment salesNewsWisconsin

Colliers Brokers Sale of Newly Constructed Retail Building in Metro Milwaukee

by Hayden Spiess

Greendale, Wis. — Colliers has brokered the sale of a newly constructed retail building on 76th Street in Greendale, a southern suburb of Milwaukee. The property is fully leased to Summit Credit Union, AT&T, Crumbl Cookies and Tropical Smoothie Café. Adam Connor, Heather Dorfler and Josh Minkin of Colliers represented the undisclosed seller and procured the California-based buyer in the transaction. A local credit union provided acquisition financing.

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Galleria-Elgin-Ill
IllinoisInvestment salesNet leaseNews

Marcus & Millichap Brokers $27 Million Sale of Two Retail Centers in Suburban Chicago

by Hayden Spiess

Elgin and Orland Park, Ill. — Marcus & Millichap has arranged the sale of two retail centers located in the Chicago suburbs of Orland Park and Elgin in transactions totaling $27 million. The first property, located in Orland Park, sold for $17.6 million. The center spans 20,732 square feet and includes three freestanding, single-tenant net-leased buildings and one multi-tenant building. The property was fully leased at the time of sale to tenants including BJ’s Brewhouse, Raising Cane’s and Smashburger. The second property, Galleria of Elgin, features two buildings totaling 24,000 …

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Investment salesNewsNorth Carolina

JLL Brokers $12.8 Million Sale of North Carolina Shopping Center

by Hayden Spiess

New Bern, N.C. — JLL Capital Markets has brokered the sale of New Bern Marketplace, a 59,516-square-foot shopping center located in New Bern. Evans Best LLC acquired the property for $12.8 million. Harris Teeter shadow anchors the center, which was 81 percent occupied at the time of sale by tenants including HomeGoods, Bath & Body Works, Domino’s, Wingstop and Sports Clips. Tom Kolarczyk and Danny Finkle of JLL represented the seller, Columbia Development Group and Lubert Adler. Meybohm Commercial represented Evans Best in the transaction.

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