Middletown Township, N.J. — Marcus & Millichap has arranged the $5.8 million sale of a retail center located in Middletown Township, roughly 44 miles outside New York City. Benjamin Moore Paints anchors the 29,411-square-foot center, which houses 10 tenants and sits on 1.9 acres. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap marketed the property on behalf of the undisclosed seller and procured the buyer in the transaction.
Mansfield, Texas — STRIVE has arranged the sale of Village at Broad II, a 17,112-square-foot retail center located in Mansfield, roughly 22 miles southwest of Dallas. The property was fully leased at the time of sale. Hudson Lambert of STRIVE represented the seller, a local developer partnership, and sourced the buyer, a Nebraska-based investor, in the transaction. Additional terms of the sale were not disclosed.
Solon, Ohio — Cooper Commercial Investment Group has brokered the $7.1 million sale of Kruse Commons located in Solon, roughly 20 miles southeast of Cleveland. The two-building retail property, which stands at approximately 26,000 square feet, is anchored by Panera Bread and ice cream shop Mitchell’s Homemade. Dan Cooper of Cooper Commercial Investment Group represented the seller, a private investment group based in the Cleveland area. A Midwest-based fund purchased the property at a cap rate of 6.75 percent or $276 per square foot. Kruse Commons was 78 percent leased …
Miami — Marcus & Millichap has facilitated the $8.4 million sale of Blue Grotto Plaza, an 11,890-square-foot retail center located in Miami. Built in 1973 and renovated in 2023, the multi-tenant property features a mix of service-oriented businesses and food-and-beverage tenants, including 10 retail spaces and 68 parking spaces. Jonathan De La Rosa and Matthew Albregts of Marcus & Millichap marketed the property on behalf of the seller, Minkin Enterprises Inc., and procured the buyer, OMAC Real Estate LLC, in the transaction.
San Diego — JLL Capital Markets has negotiated the sale of a 9.3-acre redevelopment site comprising a 185,051-square-foot former department store within Mission Valley Mall in San Diego. A joint venture between Jofa Capital and BLT Enterprises acquired the property from a private seller for an undisclosed price. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller in the deal.
Granbury, Texas — STRIVE has arranged the sale of a 9,026-square-foot Dollar General in Granbury. Adam Gottschalk of STRIVE represented the seller, a wealth advisory trust, in the transaction. The buyer was a local Texas investor. Additional terms of the sale were not disclosed.
Altamonte Springs, Fla. — Denver-based Sagard Real Estate (formerly Everwest Real Estate Investors) has sold Marketplace at Altamonte, a 335,995-square-foot retail center located in Altamonte, roughly 16 miles outside Orlando. According to the Orlando Business Journal, an entity associated with Centro Property Management LLC, purchased the property for $28.9 million from Sagard’s core equity fund. The center was 55 percent occupied at the time of sale with tenants including Burlington, Ross Dress for Less and Total Wine & More. Sagard originally acquired the center in 2005.
Rancho Cordova, Calif. — Hanley Investment Group has brokered the $6.1 million sale of Shops II at Anatolia Marketplace, a multi-tenant retail pad in Rancho Cordova, approximately 13 miles from Sacramento. Built in 2023, the 9,000-square-foot property is situated on two acres. Tenants at the property — which was fully leased at the time of sale — include Anatolia Dental Group, Round Table Pizza and Livewell Pet Hospital. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace, LLC. Frank Vora of Lee …
Morristown, N.J. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Morris Marketplace, a newly developed 85,513-square-foot shopping center located in Morristown, roughly 25 miles west of New York City. The center, which is shadow-anchored by Lidl Supermarket and Burlington, was fully leased at the time of sale with more than 35 restaurant and service-oriented tenants, including Wells Fargo and Panda Express. Brad Nathanson and JP Colussi of IPA represented the seller and developer, DeVimy Equities, and procured the Ohio-based buyer, Last Mile …
Phoenix — Kidder Mathews has facilitated the $10.6 million sale of Rancho Encanto, a retail center located in Phoenix. Darren Tappen, Nathan Thinnes, Pete Beauchamp, and Patrick Gardner of Kidder Mathews represented both the seller, Dayanim Real Estate Corporation, and the buyer, Junam Enterprises, Inc., in the transaction. Kidder will manage the 70,439-square-foot property — which is anchored by Smart & Final and Aaron’s — on behalf of Junam Enterprises.