Palm Beach, Fla. — Adirondack Capital Partners (ACP) has arranged the $43 million sale of 225 Worth Avenue, a 10,000-square-foot retail property in Palm Beach. Brittany Feinberg and Michael Hunter Coghill of ACP represented both the seller, JSB Capital Group, and the buyer, Acadia Realty Trust, in the transaction. The property features 89 feet of frontage along Worth Avenue and is leased to a mix of luxury tenants including Gucci, G/FORE and J. McLaughlin.
Virginia Beach, Va. — Lexington, Kentucky-based BC Wood Properties has acquired Fairfield Shopping Center, a 184,106-square-foot shopping center located in Virginia Beach, for $34.9 million. Food Lion and T.J. Maxx anchor the center, which was 93 percent leased at the time of sale. Additional tenants at the property include Burn Boot Camp, Papa John’s Pizza, Ivy Rehab, Jovi Salon, Fairfield Flowers, Truist Bank, Starbucks Coffee and Verizon Wireless. David Webb and Thompson Brown of Berkeley Capital Advisors represented the seller, Charlotte, North Carolina-based Crosland Southeast and an undisclosed joint venture partner, …
Lodi, Calif. — Visintainer Group has brokered the sale of Vintner’s Square, a 183,195-square-foot shopping center located in Lodi, just south of Sacramento and east of San Francisco. The retail center was sold in a two-part transaction for $23.3 million. The front portion of the property — which comprises two parcels occupied by Panera Bread and F&M Bank — sold for $8.3 million. The remaining portion of the center — excluding a site occupied by In-N-Out — traded for roughly $15 million. Situated at the northwest corner of Lower Sacramento Road and Kettleman Lane, …
Pennington, N.J. — Marcus & Millichap has brokered the $3.9 million sale of Cornerstone Court, an 18,284-square-foot retail center located in Pennington, approximately eight miles north of Trenton. Brent Hyldahl, Alan Cafiero and Seth Goldberg of Marcus & Millichap represented the seller, a New Jersey-based private investor. Hyldahl, Cafiero and Goldberg, along with David Cafiero and Damien Rance, also procured the buyer, another private investor from New Jersey. Located at 1 Tree Farm Road, Cornerstone Court comprises ground-floor retail and second-story office space. The center, which was 77 percent occupied at …
Orlando, Fla. — Marcus & Millichap has brokered the $9.9 million sale of the Shoppes at Turkey Lake, a 19,213-square-foot retail center located in Orlando. Doug Mandel, Tarek Chbeir, Zach Levine and Cody Hershey of Marcus & Millichap represented the seller and procured the buyer, Darna Developments LLC, in the transaction. Built in 2014 on nearly 2 acres, Shoppes at Turkey Lake is fully leased to Rokka’s Market, AYR Cannabis Dispensary and Club Champion.
Long Beach, Calif. — JLL Capital Markets has arranged a $7.5 million permanent loan to refinance 200 Pine Avenue, a 64,376-square-foot retail and office property located in Long Beach. Brad Vansant and Jenna Frakes of JLL secured the fixed-rate financing on behalf of the borrower, Bascom Group. Renovated in 2022, 200 Pine Avenue is a six-story building with an attached 123-stall parking garage and ground-floor retail space. The building, which has recently been renovated to provide common area and tenant improvements, is 81 percent leased to 15 tenants. Restaurant and …
Hesperia and San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has negotiated the $5.2 million sale of two newly constructed, single-tenant Quick Quack Car Wash properties in two separate transactions located in Hesperia and San Bernardino. Each 3,596-square-foot property operates on a 20-year absolute triple-net ground lease and sold for roughly $2.6 million. Bill Asher and Jeff Lefko of Hanley represented both sellers.
Houston — MetroNational has acquired M-K-T Heights, a 218,000-square-foot mixed-use adaptive reuse development in Houston’s Heights neighborhood. MetroNational has entered into a joint venture with the original developers, Radom Capital and Triten Real Estate Partners, who will remain active in the development’s operations, leasing and management. M-K-T Heights has converted five 1970s warehouse buildings into a mixed-use destination that now includes 100,000 square feet of retail and dining; 100,000 square feet of office space; and a 2,000-square-foot boardwalk for pedestrians that connects the property directly to the Heights Hike-and-Bike Trail. Tenants …
Mount Dora, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $12.4 million sale of Tri-Cities Shopping Plaza, a 71,172-square-foot shopping center located in Mount Dora, roughly 30 miles northwest of downtown Orlando. Kirk Olson and Drew Kristol of IPA represented the seller, Davie, Florida-based Ross Realty Investments, and procured the buyer, a Florida-based investor. T.J. Maxx, Ross Dress for Less and Dollar Tree anchor Tri-Cities Shopping Plaza, which was fully leased at the time of sale. Additional tenants include VIPcare Mount Dora, Victoria’s …
Gilbert, Ariz. — New York City-based Surmount has arranged the $10.8 million sale of The Shops at Civic Center, a 25,690-square-foot neighborhood center located in Gilbert, a suburb of Phoenix. Constructed in 2005, The Shops at Civic Center is situated within the 180-acre Gilbert Town Center development. Tenants at the property, which was 95 percent leased at the time of sale, include Zipps Sports Grill, One Stop Nutrition and Lifetime Family Dental. Ross Sanzari of Surmount served as the listing agent and represented the seller, a private investor, in the transaction. …