Investment sales

Coral-Hills
Grocery-anchoredInvestment salesMarylandNews

IPA Negotiates Sale of 85,514-Square-Foot Shopping Center Near Washington, D.C

by Abby Cox

Capitol Heights, Md. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Coral Hills, an 85,514-square-foot shopping center located in Capitol Heights, roughly 10 miles from downtown D.C. David Crotts and Dean Zang of IPA represented the seller, a national investment management company, and procured the undisclosed buyer. The sales price was not disclosed. Jared Cassidy of Marcus & Millichap Capital Corp. arranged the financing through an international bank on behalf of the buyer. International grocer New Grand Mart will replace the former …

Continue Reading
0 FacebookTwitterLinkedinEmail
the-summit
AlabamaInvestment salesNews

Federal Realty Acquires The Summit Shopping Center in Birmingham, Alabama, for $508 Million

by Abby Cox

Birmingham, Ala. — Maryland-based Federal Realty Investment Trust has acquired The Summit, an 870,000-square-foot, open-air shopping center in Birmingham, for $508 million. Purchased from the original developer, locally based Bayer Properties, the 100-acre property is the most visited retail destination in Alabama, drawing nearly 9 million annual visits, according to Federal Realty. As reported by the Birmingham Business Journal, Bayer sold its property management and leasing portfolio to Dallas-based Centennial in 2022, though the company’s original underlying real estate assets were not part of that sale. The acquisition is expected to …

Continue Reading
0 FacebookTwitterLinkedinEmail
Peninsula Marketplace
CaliforniaGrocery-anchoredInvestment salesNews

Westwood Financial Acquires 95,416-Square-Foot Grocery-Anchored Center in Huntington Beach, California

by Abby Cox

Huntington Beach, Calif. — Westwood Financial has acquired Peninsula Marketplace, a 95,416-square-foot shopping center located in Huntington Beach in Southern California. Ralphs anchors the property, which was 99 percent leased at the time of sale. Other tenants at the center include Planet Fitness, Carl’s Jr., Woof Gang Bakery & Grooming, Sourdough & Co., Rubio’s Baja Gril, Peninsula Orthodontics, Aim Mail Center and 602 Coffee & Acai.

Continue Reading
0 FacebookTwitterLinkedinEmail
Town Square Shopping Center
Investment salesNewsTexas

Partners Capital Purchases Three-Property Retail Portfolio in Northwest Houston

by Abby Cox

Houston — Partners Capital, the investment platform of Partners Real Estate, has purchased a three-property retail portfolio totaling 116,143 square feet in northwest Houston. The acquisition was made through Partners Capital’s Opportunity Fund VI.  The portfolio comprises Town Square Shopping Center (62,762 square feet), Boardwalk Shopping Center (24,417 square feet) and The Exchange Shopping Center. Other properties in the Fund VI portfolio include Colonnade of McAllen, a 41,041-square-foot neighborhood center in McAllen, Texas; and Powers Ferry Business Park, a 261,949-square-foot flex/service center in Northwest Atlanta. John Indelli and Zamar Salas of …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaInvestment salesNews

SRS Real Estate Brokers $27.5 Million Sale of Value-Add Retail Property in Metro Los Angeles

by Abby Cox

Santa Clarita, Calif. — SRS Real Estate Partners has arranged the $27.5 million sale of a value-add retail property located in Santa Clarita, roughly 30 miles north of Los Angeles. The shopping center, which is situated on 12.6 acres, was formerly anchored by Kmart. At the time of sale, the property was 80 percent leased. The new ownership plans to fully renovate the shopping center, maintaining its retail use while upgrading the property and enhancing its overall appearance. Carlos Lopez, Terrison Quinn and Tony Vuona of SRS Capital Markets represented the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Publix_Shoppes-Paradise-Pointe_Fort-Walton-Beach
FloridaGrocery-anchoredInvestment salesNews

TSCG Brokers $8.4 Million Sale of Publix-Anchored Center in Fort Walton Beach, Florida

by Abby Cox

Fort Walton Beach, Fla. — TSCG has brokered the $8.4 million sale of The Shoppes at Paradise Pointe, a Publix-anchored shopping center located at U.S. Highway 98 and Perry Avenue Southeast in Fort Walton Beach. The 73,416-square-foot property sits at the mainland approach to Brooks Bridge, which connects Fort Walton Beach to Okaloosa Island. Anthony Blanco of TSCG represented the seller, SITE Centers Corp., in the transaction. The buyer was an undisclosed private investor. Built in 1987, The Shoppes at Paradise Pointe was 82.5 percent leased at the time of sale …

Continue Reading
0 FacebookTwitterLinkedinEmail
Capital-Commercial-Center
CaliforniaInvestment salesNews

Marcus & Millichap Arranges $7 Million Sale of Retail Center in San Jose, California

by Abby Cox

San Jose, Calif. — Marcus & Millichap has arranged the $7 million sale of Capital Commercial Center, a 14,479-square-foot retail property located in San Jose. Steve Sauter of Marcus & Millichap represented the seller, an undisclosed partnership, while Bryan DiMesio and Scott Ferguson of Marcus & Millichap represented the buyer, a California-based limited liability company, in the transaction. Built in 1988 on a 1.1-acre parcel, Capital Commercial Center is fully leased to nine tenants under triple-net leases with an average occupancy tenure of more than 11 years.

Continue Reading
0 FacebookTwitterLinkedinEmail
Jewelers
IllinoisInvestment salesNews

TEI Acquires Retail Property on Jeweler’s Row in Chicago for $3.9 Million

by Abby Cox

Chicago — Time Equities Inc. (TEI) has acquired 33 South Wabash Ave. in Chicago for $3.9 million. Located in the heart of the South Loop along historic Jeweler’s Row, the property offers 38 feet of frontage on Wabash Avenue at the base of a 360-unit luxury condominium building, which is also home to the School of the Art Institute of Chicago. Currently fully leased, the 7,400-square-foot, three-unit retail property is home to Goddess & The Baker, Reckless Records and Prasino. Ami Ziff and Jonathan Kim represented TEI on an internal …

Continue Reading
0 FacebookTwitterLinkedinEmail
1560 N. Damen Ave.
IllinoisInvestment salesMixed-useNews

Greenstone Partners Negotiates $3.2 Million Sale of Mixed-Use Building in Chicago

by Abby Cox

Chicago — Greenstone Partners has negotiated the $3.2 million sale of 1560 N. Damen Ave., a 4,650-square-foot mixed-used building located in Chicago’s Wicker Park neighborhood. The three-story property features ground-floor retail space anchored by regional bakery Stan’s Donuts & Coffee. The second and third floors are occupied by recently renovated three-bedroom apartments. Danny Spitz and Brewster Hague of Greenstone represented the seller and procured the private buyer in the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
Trustmark
AlabamaFloridaInvestment salesNewsTennesseeTexas

JLL Arranges $91.7 Million Sale-Leaseback of Retail Bank Portfolio Spanning Five States

by Abby Cox

Chicago — JLL Capital Markets has arranged the $91.7 million sale-leaseback of 34 retail bank branches occupied by Trustmark Bank, spanning five states across the Southeast. The 222,037-square-foot portfolio includes 15-year absolute triple-net leaseback agreements featuring 1.5 percent annual rent increases. The portfolio is predominantly located in Mississippi, alongside locations in Florida’s Gulf Coast; Memphis, Tennessee; Houston, Texas; and Montgomery and Huntsville, Alabama. Trustmark will continue to operate branches at each of the locations with no changes to its products or service offerings. JLL’s Chicago-based Corporate Capital Markets and Net Lease …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts