Investment sales

eastland-plaza
IndianaInvestment salesNews

Kaden Cos. Acquires Eastland Plaza in Bloomington, Indiana, for $22.4 Million

by Abby Cox

Bloomington, Ind. — Louisville, Kentucky-based Kaden Cos. has acquired Eastland Plaza, a 125,000-square-foot shopping center in Bloomington, for $22.4 million. Situated adjacent from College Mall on 12 acres, Eastland Plaza is anchored by Petco, DSW, Dollar Tree and Rally House. Additional tenants include Jimmy John’s, McAlister’s Deli, Noodles & Company and Domino’s Pizza. The center was 80 percent leased at the time of sale. Rebecca Wells of Cushman & Wakefield represented the seller, an entity doing business as Eastland Plaza LLC, in the transaction.

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Big Y Plaza
ConnecticutGrocery-anchoredInvestment salesNews

Marcus & Millichap Negotiates $14.3 Million Sale of Grocery-Anchored Center in Metro Hartford

by Abby Cox

Rocky Hill, Conn. — Marcus & Millichap has negotiated the $14.3 million sale of Big Y Plaza, a 60,947-square-foot grocery-anchored shopping center in Rocky Hill, approximately eight miles south of downtown Hartford. Built in 1988 on 14 acres, the property is fully occupied by Big Y Supermarket and Wells Fargo Bank. Joseph C. French Jr. and Jeffrey Stearney of Marcus & Millichap marketed the property on behalf of the seller, a private Connecticut-based company, and procured the buyer, a private New York-based investor. John Krueger was Marcus & Millichap’s broker of …

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VASA Fitness
ColoradoInvestment salesNews

DoubleBay, Midloch Sells 56,000-Square-Foot Single-Tenant Retail Property in Longmont, Colorado, for $13.9 Million

by Abby Cox

Longmont, Colo. — DoubleBay Partners and Midloch Investment Partners has sold 1630 Pace Street, a 56,000-square-foot single-tenant retail property located in Longmont, approximately 37 miles north of Denver. Situated within the Fox Creek Marketplace neighborhood center, the space is occupied by VASA Fitness, which was converted from a former Safeway grocery store. Mark Thiel and Cory Gross of Marcus & Millichap arranged the sale.

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D&W_Cascade_East
Grocery-anchoredInvestment salesMichiganNews

Mid-America Negotiates Sale of 99,529-Square-Foot Grocery-Anchored Center in Grand Rapids, Michigan

by Abby Cox

Grand Rapids, Mich. — Mid-America Real Estate Corp. has negotiated the sale of Cascade East, a 99,529-square-foot community center located in Grand Rapids. Anchored by D&W Fresh Market, the center was 97 percent leased at the time of sale. Additional tenants include Hallmark, Sola Salon Studios, iSmash, Your Pets Naturally, HOTWORX, Warhammer and Pit Stop Catering. Ben Wineman, Eric Geskermann and Daniel Stern of Mid-America represented the seller, a publicly traded REIT, in the transaction. The property was acquired by Detroit, Michigan-based Batal Real Estate.

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Plaza-Pacifica-San-Clemente-CA
CaliforniaInvestment salesNews

Faris Lee Investments Arranges $21 Million Sale of Plaza Pacifica Retail Center in San Clemente, California

by Abby Cox

San Clemente, Calif. — Faris Lee Investments has arranged the sale of Plaza Pacifica, a 23,679-square-foot neighborhood center located in San Clemente’s South Orange County. An Orange County, California-based family office acquired the property for $21 million. Don MacLellan of Faris Lee represented the undisclosed seller. Plaza Pacifica is shadow anchored by Pavilions, Walmart, Lowe’s Home Improvement and the Hoag Medical Facility.

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Renaissance-Plaza
Investment salesNews

Marcus & Millichap Brokers Sale of Renaissance Plaza in Ormond Beach, Florida, for $7.8 Million

by Abby Cox

Ormond Beach, Fla. — Marcus & Millichap has brokered the $7.8 million sale of Renaissance Plaza, a 58,682-square-foot retail center in Ormond Beach, roughly six miles north of Daytona Beach. Built in 1988 on nearly 6 acres, Renaissance Plaza is fully leased to 16 tenants including Florida Health Care, Peggy’s Whole Foods, Manny’s Pizza, Kingdom Açai and Century 21. Tarek Chbeir marketed the property on behalf of Ty and Tovah Lohman, an Ormond Beach-based developer and investor, and procured the buyer, DRG Real Estate. Chris Lohman of STARR Real Estate LLC assisted with the …

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City-Center-Crossing
GeorgiaGrocery-anchoredInvestment salesNews

JLL Negotiates $20.8 Million Sale of City Center Crossing in Metro Atlanta

by Abby Cox

Sandy Springs, Ga. — JLL Capital Markets has negotiated the $20.8 million sale of City Center Crossing, a 98,408-square-foot grocery-anchored shopping center in the Atlanta suburb of Sandy Springs. The center, which was fully leased at the time of sale, is home to a mix of tenants including a CHEF’STORE grocery store, Planet Fitness, Goldfish Swim School, Ready. Set. Fun., Hudson Grille and GolfTec. Henry Schaffer, Gregg Shapiro and Hunter Goldberg of JLL represented the buyer, Crosspoint Associates, in the transaction. Jim Hamilton, Brad Buchanan, Andrew Michols and Charlie Merrigan, also …

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Firestone-Easley-SC
Investment salesNewsSouth Carolina

Marcus & Millichap Brokers Sale of Single-Tenant Retail Property in Easley, South Carolina

by Abby Cox

Easley, S.C. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built, 5,798-square-foot retail property in Easley, roughly 12 miles west of Greenville. Firestone, a subsidiary of Japanese tire manufacturer Bridgestone, occupies the building on a 15-year, triple-net, corporate-guaranteed lease that features 5 percent rent increases every five years. A preferred developer for Firestone sold the property to a 1031 exchange buyer. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group represented the seller in the transaction, which marks the team’s 21st new-construction Firestone …

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Westbury Square
AlabamaInvestment salesNews

JLL Income Property Trust Acquires Westbury Square Shopping Center in Huntsville for $32 Million

by Abby Cox

Huntsville, Ala. — JLL Income Property Trust has acquired Westbury Square, a 115,000-square-foot shopping center located in Huntsville, for $32 million. Tenants at the center, which was fully leased at the time of sale, include T.J. Maxx, Michaels, Stein Mart, Metro Diner, Chicken Salad Chick, Captain D’s, BB&T, Moe’s Southwest Grill, Jenny Craig, Jimmy John’s and Cricket Wireless. Cushman & Wakefield brokered the transaction on behalf of the undisclosed seller.

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Northpark-Village
Grocery-anchoredInvestment salesNewsTexas

Dunhill Partners Acquires Two Grocery-Anchored Shopping Centers Totaling 220,938 Square Feet in Texas

by Abby Cox

Lubbock and Brownwood, Texas — Dunhill Partners has acquired two grocery-anchored retail centers in Texas. Spanning 220,938 square feet, the portfolio includes Northpark Village in Lubbock and Commerce Square in Brownwood. Chris Gerard and Adam Howells of JLL represented the seller, Phillips Edison & Co., in the transaction. Anchored by United Supermarkets, Northpark Village totals 70,479 square feet across 5.5 acres. Commerce Square, which consists of 150,459 square feet, is anchored by Aldi and features a mix of other national tenants such as T.J. Maxx, Boot Barn, Harbor Freight, Buffalo …

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