Investment sales

6700-Charlotte-Pike-Nashville
Investment salesNewsTennessee

Matthews Facilitates $8.4 Million Sale of Nashville Retail Center

by Hayden Spiess

Nashville, Tenn. — Matthews Real Estate Investment Services has brokered the sale of a 10,656-square-foot shopping center located in Nashville, about six miles outside of the city’s downtown district. The property is currently under construction and is fully preleased to tenants including Chase Bank, Pacific Dental Services and Sleep Outfitters, all of which are on 10-year leases. Hutt Cooke and Clay Smith of Matthews represented the seller, a partnership of five individual investors, in the $8.4 million, all-cash transaction. An undisclosed private investor acquired the property in a 1031 exchange.

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Investment salesNewsOhio

Marcus & Millichap Arranges $10.6 Million Sale of Shopping Center Near Columbus, Ohio

by Hayden Spiess

Lancaster, Ohio — Marcus & Millichap has arranged the $10.6 million sale of Plaza Shopping Center in Lancaster, about 33 miles southeast of Columbus. The 210,522-square-foot property was 87 percent leased at the time of sale to tenants including Ollie’s Bargain Outlet, Planet Fitness, AutoZone, Family Dollar, UPS Store, Rent-A-Center and Buffalo Wild Wings. Scott Wiles, CJ Jackson, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, an Ohio-based REIT. The team also procured the buyer, Americas Realty LLC.

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Investment salesNewsNorth Carolina

Providence Acquires 52,000-Square-Foot Parcel in Charlotte

by Hayden Spiess

Charlotte, N.C. — Providence Group Capital (PGC) has purchased 1420 South Mint Street in the South End of Charlotte. The 1.45-acre property comprises 52,000 square feet of buildings occupied by retailers and service providers. PCG will upgrade the property while continuing to manage and lease it. Providence Group Management Services will handle the day-to-day management of the property. PCG is additionally under contract to purchase three more properties in the first quarter of 2023.

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northcross-shopping-center-victoria-texas
Investment salesNewsTexas

Dunhill Partners Acquires 206,284-Square-Foot Shopping Center in Southern Texas

by Hayden Spiess

Victoria, Texas —Dunhill Partners has purchased Northcross Shopping Center, a 206,284-square-foot retail center located in Victoria, roughly 100 miles northeast of Corpus Christi. JLL Capital Markets has arranged the sale of the property, which was 91 percent leased at the time of sale. Tenants at the property include Ashley Furniture, Office Depot, Tuesday Morning, Dollar General and Dollar Tree. Adam Howells, George Cushing, Matthew Barge and Cole Sutter of JLL represented the undisclosed Dallas-based seller in the transaction.

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Pooler-Pointe-Pooler-Ga
GeorgiaInvestment salesNews

Marcus & Millichap Arranges $32 Million Sale of Retail Center Near Savannah

by Hayden Spiess

Pooler, Ga. — Marcus & Millichap has brokered the $32 million sale of Pooler Pointe, a 160,683-square-foot shopping center in Pooler, approximately 10 miles outside of Savannah. Tim Giambrone of Marcus & Millichap represented the buyer, a private investor, in the transaction. Tenants at the property include Hobby Lobby, HomeGoods and Dick’s Sporting Goods.

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Hillcrest-Marketplace_Mobile
AlabamaGrocery-anchoredInvestment salesNews

Legacy Realty Brokers $7.4 Million Sale of Hillcrest Marketplace Shopping Center in Mobile

by Hayden Spiess

Mobile, Ala. — Legacy Realty Group Advisors has brokered the $7.4 million sale of Hillcrest Marketplace, a 76,000-square-foot shopping center located at 6300 Grelot Road in Mobile. Anchored by grocer Winn-Dixie, the property was 95 percent leased at the time of sale. Jacob Baruch and Max Yardeni of Legacy Realty represented both the buyer and seller in the transaction.

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Doral-Shops_Miami
FloridaInvestment salesNews

Marcus & Millichap Brokers $57 Million Sale of Doral Shops in Metro Miami

by Hayden Spiess

Doral, Fla. — Marcus & Millichap has brokered the $57 million sale of Doral Shops, a 113,354-square-foot shopping center located in Doral, a suburb of Miami. Built in 2002 on nearly six acres, the shopping center was 99 percent leased at the time of sale to Navarro Discount Pharmacy, as well as 12 restaurants and several service-oriented tenants on the ground floor. The second floor of Doral Shops, which spans roughly 40,000 square feet, houses service retailers and office space. Scott Sandelin and Edward Romo of Marcus & Millichap’s Miami …

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Bermuda Square
Investment salesNewsVirginia

GBT Sells Portion of 136,000-Square-Foot Shopping Center Near Richmond

by Hayden Spiess

Chester, Va. — GBT Realty Corp. has sold a part of Bermuda Square, a 136,000-square-foot retail center located in Chester, roughly 15 miles outside Richmond. GBT, which acquired the property in 2019, sold a portion comprising 77,850 square feet to a private investor in a $36.5 million transaction. Jordan Lex and Brad Peterson of JLL represented GBT in the sale. The center is fully leased to tenants including Hobby Lobby, Aspen Dental, Sleep Number, Raising Cane’s Chicken Fingers, Little Casesars and Domoishi.

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Westridge-Shopping-Center-Phoenix-AZ
ArizonaInvestment salesNews

Cushman & Wakefield Brokers $6.8 Million Sale of Westridge Shopping Center in Phoenix

by Hayden Spiess

Phoenix — Cushman & Wakefield has brokered the sale of Westridge Shopping Center, located in Phoenix. New Jersey-based Westridge Phoenix acquired the asset from DPM Westridge Shopping Center for $6.8 million. Built in 1985 and renovated in 2017, Westridge Shopping Center features 58,670 square feet of retail space on 5.3 acres. At the time of sale, the property was 81 percent leased. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller in the deal.

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Shops-at-the-Rim-San-Antonio
FinanceInvestment salesNewsTexas

JLL Arranges Acquisition Financing for Centers Totaling 14,081 Square Feet in Central Texas

by Hayden Spiess

Austin, Texas and San Antonio— JLL Capital Markets has secured acquisition financing for two retail centers, both in Texas. CW Sheehan, Kaitlin Kane and Hunt Wood of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, Door Capital Partners. The first property, 3701 Guadalupe, comprises 6,991 square feet in Austin in the center of off-campus University of Texas student housing. Built in 1976, the center was 100 percent leased at the time of sale to tenants including Domino’s, Walgreens, Smile Haus, Body Brite and Evo Performance. The second …

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