Investment sales

Salem-Square-Countryside-Ill

Countryside, Ill. — Mid-America Real Estate’s Investment Sales Group has arranged the sale of Salem Square, a 116,992-square-foot shopping center located in Countryside, approximately 17 miles southwest of downtown Chicago. The property was fully leased and managed by Pine Tree at the time of sale. Tenants at the center include TJ Maxx/HomeGoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy and Magic Nails. Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction.

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Governors-Walk_Peachtree-City

Peachtree City, Ga. — Northmarq has arranged the $3.3 million sale of Governor’s Walk, a 21,280-square-foot shopping center located in Peachtree City, roughly 30 miles southwest of Atlanta. The property was fully leased at the time of sale, to tenants including Car Wash, Donut Shop, Peachtree Pawn, Fresh Smoothie Café, Mary Nails, Curves, Carolina Hemp Co., Southern Crescent Spa, Peachtree Wax Studio, La Plaza R&R Inc., Flooring Store, Men’s World Barber, Rene’e Paige Salon and M&R Alterations. Jeff Enck of Northmarq represented the Florida-based seller in the transaction. Enck also …

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Bay-State-Commons-Westborough-Mass

Westborough, Mass. — Grossman Development Group (GDG) has acquired Bay State Commons, a 261,672-square-foot retail center located in Westborough, approximately 30 miles west of Boston. Roche Bros. anchors the property, and other tenants include Boston Interiors, Reliant Medical, Boston Ski & Tennis, Ted’s Montana Grill and Panera Bread. GDG purchased the property with a partnership doing business as Baystate Westborough LLC, which includes Mark Reardon. Todd Alexander of Kelleher & Sodowsky handles leasing at the development.

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El-Dorado-Long-Beach-CA

Long Beach, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of El Dorado Shopping Center, a retail property located in Long Beach. A partnership managed and represented by Milan Capital Management acquired the center from DPI Retail for $21.2 million. Grocery Outlet and Dollar Tree anchor the 74,500-square-foot shopping center. Built in 1965 and renovated in 2003, the property was 93 percent occupied at the time of sale. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller in the transaction.

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Frisco, Texas —STRIVE has arranged the sale of The Shops at Eldorado, a 13,522-square-foot retail strip center located in Frisco. Built in 2016, the center was fully leased at the time of sale to tenants including Sugar Boy Donuts, Smoke Central and Discovery Kids Dentistry. Hudson Lambert and Jason Vitorino of STRIVE represented the seller, a Dallas-based developer, in the transaction.

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Ventura, Calif. — IRA Capital has completed the $66 million sale of Poinsettia Plaza, a 157,322-square-foot shopping center located in Ventura. Tenants at the center, which was 96.5 percent occupied at the time of sale, include Ross Dress for Less, Office Depot, Petco, FedEx, Lamps Plus and Aldi. Recent renovations at the property include modernizations of existing facades, new landscaping and parking lot upgrades. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark represented the seller in the deal.

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Westpark-Walk-Peachtree-City-Ga

Peachtree City, Ga. — Northmarq has arranged the sale of Westpark Walk, a 73,847-square-foot retail center located in Peachtree City, roughly 30 miles south of Atlanta. A developer acquired the property, which was fully leased at the time of sale, for $15.2 million. Tenants at the center include Tuesday Morning, Verizon Wireless, State Farm, Firehouse Subs, HOTWORX, and Ranchero Mexican Grill. Jeff Enck and Emery Shane of Northmarq represented the seller, an individual investor, in the transaction.

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Chevron-Norco-Calif

Norco, Calif. — Progressive Real Estate Partners has brokered the $11.9 million sale of a Chevron station, convenience store and car wash located in Norco. Both the business and property were included in the sale. Victor Buendia of Progressive represented the seller, a Los Angeles-based private investor, in the transaction. Built in 2000 and fully remodeled in 2020, the property features 18 fueling stations, a self-service express car wash and a 22,000-square-foot ExtraMile convenience store. The sale also included two rental units, currently leased to a Valvoline franchisee and a …

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Chatham-Plaza-Savannah

Savannah, Ga. — JLL Capital Markets has arranged the sales of two shopping centers located in Savannah in transactions totaling $63 million. Built in 1986, Savannah Centre comprises 186,514 square feet and was 81 percent leased at the time of sale. Tenants at the property include TJ Maxx, Bed Bath & Beyond, Shoe Carnival, JOANN Fabric and Crafts, Five Below, Rack Room Shoes and Chicken Salad Chick. Chatham Plaza totals 197,605 square feet. Originally built in 1972, the property was renovated in 2001. Tenants at the center, which was 93 …

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JRW_Realty_Giant_Eagle_grocery_store

Columbus, Ohio — JRW Realty has negotiated the sale of Walnut Creek Plaza in Columbus for an undisclosed price. An 86,608-square-foot Giant Eagle grocery store anchors the 115,777-square-foot shopping center, which features 13 additional retail and healthcare tenants. Nathan Webb of JRW Realty sourced the buyer, one of JRW’s exclusive institutional buyers. CBRE represented the undisclosed seller.

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