Investment sales

Centennial-Place-Shops
Grocery-anchoredInvestment salesNewsWisconsin

Mid-America Real Estate Brokers Sale of Centennial Place Shoppes in Milwaukee

by Abby Cox

Milwaukee — Mid-America Real Estate Corp. has brokered the sale of Centennial Place Shoppes, a 13,976-square-foot shopping center located less than four miles from downtown Milwaukee. Pick ‘n Save shadow-anchors the center, which was fully leased at the time of sale, according to LoopNet Inc. Additional tenants include Summit Credit Union, Domino’s Pizza, GNC, Great Clips, Chubby’s Cheesesteaks and T-Mobile. Rick Drogosz, Patrick Corrigan and Dan Rosenfeld of Mid-America Real Estate represented the seller, a joint venture between Boulder Venture and General Capital Group, in the transaction. The center was acquired by a public REIT.

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DevelopmentFloridaGrocery-anchoredInvestment salesNews

Morgan Co., Casto Net Lease Acquire Land Parcel for Development of Grocery-Anchored Shopping Center in Port St. Lucie, Florida

by Abby Cox

Port St. Lucie, Fla. — A partnership between Morgan Co. and Casto Net Lease has acquired a 15-acre land parcel in Port St. Lucie for the development of a grocery-anchored shopping center. Scott Copeland of On Course Development represented the buyers in the transaction. The new center will be anchored by Aldi and will include several outparcels that will be designated for tenants such as McDonald’s, Circle K and AutoZone. Construction is expected to begin later this year, with delivery of the project scheduled for 2027.

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Slatten Ranch Shopping Center
CaliforniaInvestment salesNews

JLL Arranges Sale of 118,187-Square-Foot Slatten Ranch Shopping Center Near San Francisco  

by Abby Cox

Antioch, Calif. — JLL Capital Markets has arranged the sale of Slatten Ranch Shopping Center, a 118,187-square-foot community center in Antioch, approximately 40 miles northeast of San Francisco. Eric Kathrein, Gleb Lvovich, Andrew Spangenberg and Allie Repaskey of JLL represented the seller, Camden Village LLC, in the transaction. The buyer was Sterling Organization. Slatten Ranch Shopping Center features a mix of tenants including Burlington, Harbor Freight, Five Below, Sephora, Champs Sports, European Wax Center, Starbucks Coffee, Men’s Warehouse, Sally Beauty, Carter’s, The Vitamin Shoppe, Cold Stone Creamery, Panda Express, T-Mobile and Jamba …

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Empire-Crossing
IllinoisInvestment salesNews

JLL Negotiates $28.4 Million Sale of Empire Crossing Shopping Center in Bloomington, Illinois

by Abby Cox

Bloomington, Ill. — JLL Capital Markets has negotiated the $28.4 million sale of Empire Crossing, a 229,971-square-foot retail power center in Bloomington. Anchor tenants include Dick’s Sporting Goods, HomeGoods, Ashley Furniture HomeStore and DSW. The seller, BET Investments, completed a redevelopment that converted the long-vacant Kmart anchor store into multi-tenant space. Currently 85 percent occupied, the property offers value-add potential through 33,000 square feet of vacancy across eight suites. Michael Nieder and Brian Page of JLL represented the seller. Chase Properties was the buyer.

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McDonalds_Indianapolis
IndianaInvestment salesNews

Hanley Investment Group Arranges $1.9 Million Sale of Ground Lease in Indianapolis

by Abby Cox

Indianapolis — Hanley Investment Group Real Estate Advisors has arranged the $1.9 million sale of a new, single-tenant ground lease at Southern Dunes Commons at Wellingshire, a nearly 19-acre mixed-use center under construction in Indianapolis. McDonald’s occupies the 3,780-square-foot building on a corporate-guaranteed, 20-year absolute triple-net ground lease. Dylan Mallory of Hanley, in association with ParaSell, Inc., represented the sellers, Wellingshire Partners LLC and Midland Atlantic Properties. Mehdi Star of Net Lease Exchange represented the buyer in the transaction. Southern Dunes Commons is approved for up to six restaurant and retail …

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Lakeview-Pointe
Investment salesNewsOklahoma

Hanley Investment Group Arranges $22.5 Million Sale of Lakeview Pointe Shopping Center Near Oklahoma City

by Abby Cox

Stillwater, Okla. — Hanley Investment Group Real Estate Advisors has arranged the $22.5 million sale of Lakeview Pointe Shopping Center, a 207,406-square-foot power center located in Stillwater, approximately two miles north of Oklahoma State University. Best Buy, Ross Dress for Less, Belk, Five Below and Petco anchor the center, which was 95 percent leased at the time of sale. Additional tenants include IBC Bank, Olive Garden, Texas Roadhouse, Lowe’s Home Improvement, Panda Express and Rack Room Shoes. Roughly 78 percent of Lakeview Pointe’s tenants have operated at the site for more …

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The 25,008-square-foot retail center in Rancho Cucamonga, California, is fully occupied by 14 tenants.
CaliforniaFinanceInvestment salesNews

PSRS Negotiates $9.4 Million in Refinancing for Retail Center in Rancho Cucamonga, California

by Abby Cox

Rancho Cucamonga, Calif. — PSRS has negotiated a $9.4 million loan for the refinancing of a 25,008-square-foot neighborhood center in Rancho Cucamonga. Constructed in 2004, the retail property is fully occupied by 14 tenants. Jonny Soleimani, George Gianoukakis and Garrett Carter of PSRS secured the non-recourse loan, which features a five-year term and a 27-year amortization schedule, through one of its correspondent life insurance companies.

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whistle-stop-square
Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Realty Group Arranges Sale of Whistle Stop Square Near Rockingham, North Carolina

by Abby Cox

Hamlet, N.C. — Legacy Realty Group Advisors has arranged the sale of Whistle Stop Square, a 40,120-square-foot, grocery-anchored shopping center located in Hamlet, roughly six miles southeast of the Rockingham. Tenants at the center include Food Lion, Mr. Furniture Outlet, K&D Nails, King Gourmet and Mo’s Tobacco & Vapor, according to Showcase. Jacob Baruch and Jonah Warshaw of Legacy Realty Group Advisors represented the buyer, while David Zipparo of Avison Young represented the seller in the off-market transaction.

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Investment salesNewsNorth Carolina

CenterSquare Acquires Shoppes at Indian Trail Near Charlotte, North Carolina                   

by Abby Cox

Indian Trail, N.C. — CenterSquare has acquired Shoppes at Indian Trail, a 33,129-square-foot retail property located in Indian Trail, approximately 15 miles southeast of Charlotte. The center was fully leased at the time of sale to 15 tenants including The UPS Store, Tropical Smoothie Café, Firehouse Subs and Sports Clips. This transaction marks CenterSquare’s ninth acquisition in North Carolina.

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CaliforniaInvestment salesNews

First Washington Realty Purchases Mission Park Marketplace in Santa Clara, California

by Abby Cox

Santa Clara, Calif. — First Washington Realty has acquired Mission Park Marketplace, a 23,204-square-foot retail strip center located in Santa Clara. Built in 2019 on 5 acres, Mission Park Marketplace spans five buildings and features a mix of tenants including Mendocino Farms, Starbucks Coffee, The Habit Burger Grill, Boichik Bagels, Teriyaki Madness and Orangetheory Fitness.

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