Investment sales

Vero-Beach-Square
FloridaInvestment salesNews

Marcus & Millichap Arranges $6.2 Million Sale of Retail Strip Center in Vero Beach, Florida

by Abby Cox

Vero Beach, Fla. — Marcus & Millichap has arranged the $6.2 million sale of Vero Beach Square, an 11,480-square-foot retail strip center located at 5125 20th St. in Vero Beach. Built in 2019, the fully leased retail property houses a mix of tenants including Dunkin’, Jersey Mike’s, Tropical Smoothie Café and Corporate Elite Hearing Centers of America. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office marketed the property on behalf of the seller, Davie, Florida-based Ross Realty, and procured the buyer, a private investment group based in …

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village-park-plaza
IndianaInvestment salesNewsPower centers

CBRE Negotiates Sale of 290,016-Square-Foot Power Center in Metro Indianapolis

by Abby Cox

Carmel, Ind. — CBRE has negotiated the sale of Village Park Plaza, a 290,016-square-foot power center located in Carmel, roughly 23 miles north of Indianapolis. Christian Williams, Michael Watson, Michael Kaider, Keegan Barrett, George Good, Richard Frolik, Adam Foret and Kevin Broderick of CBRE’s National Retail Partners team represented the seller, Washington Prime Group, in the transaction. Oakbrook Terrace, Illinois-based Pine Tree, in partnership with a state pension fund, purchased the property. Village Park Plaza was 99 percent leased at the time of sale to tenants including Walmart, Menard’s, Academy Sports, …

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3030-N-Broadway
Grocery-anchoredIllinoisInvestment salesNews

Mid-America Brokers $50.1 Million Sale of 131,748-Square-Foot Grocery-Anchored Center in Chicago

by Abby Cox

Chicago — Mid-America Real Estate Corp. has brokered the sale of 3030 North Broadway, a 131,748-square-foot shopping center located in Chicago. L3 Capital acquired the property for $50.1 million. Ben Wineman and Joe Girardi of Mid-America Real Estate Corp. represented the seller, SITE Centers, in the transaction. Mariano’s anchors the five-story property, which features a mix of additional tenants including Club Studio, PNC Bank, Starbucks Coffee and Fresh Dental.

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Overlook at Oakbrook
IllinoisInvestment salesNews

MetLife Investment Sells Overlook at Oakbrook in Metro Chicago for $44 Million

by Abby Cox

Oak Brook, Ill. — MetLife Investment Management has sold Overlook at Oakbrook, a 52,876-square-foot, unanchored retail strip center located in Oak Brook, roughly 20 miles east of Chicago. Overlook at Oakbrook spans seven buildings and was 94 percent leased to 13 tenants at the time of sale including Lazy Dog Restaurant and Bar, Panera Bread, Veterinary Emergency Group (VEG) and Guidepost Montessori. The property was completed in 2023, and is situated adjacent to Oakbrook Center, a 2 million-square-foot super-regional mall. Michael Nieder, Brian Page and Alex Sharrin of JLL’s Investment Sales …

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Shops at Plaza West Covina
CaliforniaInvestment salesNews

Phillips Edison & Co. Acquires Shops at Plaza West Covina in Southern California for $25.8 Million

by Abby Cox

West Covina, Calif. — Cincinnati, Ohio-based Phillips Edison & Co. has acquired the Shops at Plaza West Covina, a 46,406-square-foot shopping center located in West Covina, roughly 20 miles east of Los Angeles, for $25.6 million. Daniel Tyner, Geoff Tranchina and Gleb Lvovich of JLL represented the private seller in the transaction. Shops at Plaza West Covina was 88 percent leased at the time of sale to tenants including Bank of America, Jamba Urbane Café, SchoolsFirst Federal Credit Union, California Fish Grill and Gen Korean BBQ House, among others. The property …

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The Shops at Fry & Tuckerton
Investment salesNewsTexas

JLL Arranges Sale of 39,912-Square-Foot Retail Center in Metro Houston

by Abby Cox

Cypress, Texas — JLL Capital Markets has arranged the sale of Shops at Fry & Tuckerton, a newly constructed, 39,912-square-foot retail development located in Cypress, a northwestern suburb of Houston. Ryan West, John Indelli and Michael King of JLL’s Investment Sales and Advisory team represented the seller, Gulf Coast Commercial Group, in the transaction. Situated at the entrance of the Bridgeland master-planned community, The Shops at Fry & Tuckerton consists of three multi-tenant retail buildings, which were fully leased at the time of sale. Tenants at the property include Five Guys …

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7-Eleven-Bernardino
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $3 Million Pre-Sale of Single-Tenant Retail Property in San Bernardino, California

by Abby Cox

San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3 million pre-sale of a newly constructed single-tenant retail property situated at the intersection of Redlands Boulevard and Hunts Lane in San Bernardino. The building will be occupied by a 7-Eleven commercial fueling lanes (CFL) prototype on a 15-year, triple-net ground lease. The location will serve as a bridge between a traditional convenience store and a truck stop, which includes high-speed diesel lanes for commercial vehicles, commercial truck diesel infrastructure compatible with the 7FLEET Diesel Network and diesel …

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CFA-Leesburg
FloridaInvestment salesNews

SRS Negotiates $3.5 Million Ground Lease Sale of Single-Tenant Restaurant Property in Central Florida

by Abby Cox

Leesburg, Fla. — SRS Real Estate Partners has negotiated the $3.5 million ground lease sale of a restaurant property located at 9925 US-441 in Leesburg, about 45 miles northwest of Orlando. Chick-fil-A occupies the 4,935-square-foot building, which was built in 2024, on a corporate-guaranteed, triple-net ground lease with 13 years remaining on the initial term. Patrick Nutt and William Wamble of SRS represented the seller, a national investor and developer, in the transaction. The 1031 exchange buyer was a Brooklyn, New York-based private investor.

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Lancaster Marketplace
CaliforniaFinanceIllinoisInvestment salesNewsOregonWisconsin

Gantry Arranges $42.8 Million in Refinancing for Four Retail Properties Across Four States

by Abby Cox

San Francisco — San Francisco-based Gantry has arranged four separate permanent loans totaling $42.8 million to refinance four retail properties in California, Illinois, Oregon and Wisconsin. Andy Bratt and Sean Kuang of Gantry arranged all four loans through a single life company lender on behalf of the borrower, a series of Rhino Investments Group (RIG) affiliates. The loans carry fixed interest rates with 30-year amortization schedules. Gantry will service the loans. The loan proceeds were used to retire existing debt, fund tenant improvements and provide additional cash-out tied to executed leases …

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Prospect Square
CaliforniaInvestment salesNews

Marcus & Millichap Brokers Sale of 33,055-Square-Foot Mixed-Use Property in La Jolla

by Abby Cox

San Diego — Marcus & Millichap has arranged the sale of Prospect Square at La Jolla Village, a mixed-use property located in San Diego’s La Jolla submarket. 1025 Prospect LLC sold the asset to 1025 Associates LLC & Wedge 3.0 LLC for $10.3 million. Nick Totah of Marcus & Millichap represented the seller, while Ross Sanchez, also of Marcus & Millichap, represented the buyer in the deal. Prospect Square at La Jolla Village features 33,055 square feet of ground-floor and second-floor retail and restaurant space, third-floor office space and a three-story …

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