Investment sales

Shadow Lake Towne Center
Investment salesNebraskaNews

DLC, DRA Advisors Acquires Shadow Lake Towne Center Near Omaha, Nebraska, for $95 Million

by Abby Cox

Papillion, Neb. — A joint venture between DLC Management Corp. and DRA Advisors has acquired Shadow Lake Towne Center, a 640,327-square-foot regional shopping center located in Papillion, a southern suburb of Omaha. Shadow Lake Towne Center spans 83.5 acres and was 89 percent occupied at the time of sale. Tenants include Dick’s Sporting Goods, JCPenney, T.J. Maxx, Burlington, HomeGoods, Michaels and Ross Dress for Less, as well as a Hy-Vee grocery store, which was not included in the sale. Brian Page and Michael Nieder of JLL Capital Markets represented the seller, …

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The Town Center at Levis Commons
Investment salesNewsOhio

Tanger Acquires The Town Center at Levis Commons in Perrysburg, Ohio, for $60 Million

by Abby Cox

Perrysburg, Ohio — Greensboro, North Carolina-based Tanger has acquired The Town Center at Levis Commons, a 300,000-square-foot mixed-use development located in Perrysburg, roughly 10 miles south of Toledo, for $60 million. Charlotte, North Carolina-based developer and owner Hill Partners, which has managed, leased and owned Levis Commons since its opening in 2004, was the seller. Situated at the entrance of J. Preston Levis Commons, a 400-acre master-planned community, The Town Center at Levis Commons features more than 60 retailers and restaurants, a Cinemark movie theater and 69,000 square feet of office space.  Tenants …

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Shops-at-Romeoville
IllinoisInvestment salesNews

United Properties Acquires Two Chicagoland Shopping Centers for $22.6 Million

by Abby Cox

Chicago and Romeoville, Ill. — United Properties Corp. has acquired Bishop Plaza, a 76,000-square-foot retail center in Chicago, for $11.5 million. The company also purchased the Shops at Romeoville, an 82,687-square-foot shopping center along the South Weber Road corridor in Romeoville, for $11.1 million. The Shops at Romeoville is home to tenants such as T.J. Maxx, Ross Dress for Less, Petco and Five Below. Based in East Meadow, New York, United Properties owns and operates shopping centers across 22 states.

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FloridaInvestment salesNews

SRS Real Estate Brokers $11.1 Million Sale of Retail Property in Jacksonville, Florida

by Abby Cox

Jacksonville, Fla. — SRS Real Estate Partners has arranged the $11.1 million sale of Shops at Race Track, a nearly 17,000-square-foot retail center located at 4560 Race Track Road in Jacksonville. Situated on 2.4 acres within the Durbin Park master-planned community, the property was fully leased at the time of sale to six tenants including Heartland Dental, Dep Nails and Avecina Medical. Patrick Nutt and William Wamble of SRS represented the seller, a national real estate development and investment firm, in the transaction. Sean McGill of Cantrell & Morgan represented …

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FloridaInvestment salesNews

Second Horizon Capital Purchases 710,000-Square-Foot Retail Center in Melbourne, Florida

by Abby Cox

Melbourne, Fla. — Second Horizon Capital has acquired Melbourne Square, a 710,000-square-foot retail center in Melbourne, a city on Florida’s Space Coast. A joint venture between Neuberger Berman and Cross Ocean Partners arranged the sale. According to the Orlando Business Journal, the shopping center sold for $56.3 million on March 2. Second Horizon Capital has implemented a capital improvement program, which will comprise supporting community engagement, center operations, building upgrades and expanding programming and partnerships with local organizations and businesses. CBRE will handle leasing and property management at the center. …

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Museum-Parc
CaliforniaInvestment salesMixed-useNews

Bridgeton Sells Retail, Office Component of Museum Parc in San Francisco for $19.3 Million

by Abby Cox

San Francisco — Bridgeton has sold the 36,000-square-foot retail and office component of Museum Parc, a mixed-use property located in San Francisco’s SoMa neighborhood. Built in 1989, Museum Parc features 234 luxury condominiums with ground-floor retail and office space. Tenants at the property, which was fully leased at the time of sale, include Crunch Fitness, El Dorado Latin Fusion, Aquabyte and TowerWAV. Eric Kathrein, Andrew Spangenberg and Allie Repaskey of JLL represented the seller in the transaction. DPI Retail was the buyer.

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Chipotle-Rep-Photo
CaliforniaInvestment salesNews

SRS Real Estate Negotiates $4.4 Million Sale of Single-Tenant Restaurant Property in Southern California

by Abby Cox

Palmdale, Calif. — SRS Real Estate has negotiated the $4.4 million sale of a single-tenant restaurant property located in the Southern California city of Palmdale. Chipotle will occupy the 2,325-square-foot building on a 15-year absolute triple-net corporate guaranteed lease. The newly constructed property is expected to open on June 4. Calvin Short and Jeff Christian of First Street Inc. represented the seller, Phoenix-based First Street Development, in the transaction. The buyer was a Los Angeles-based private 1031 exchange investor.

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prairie-plaza
Investment salesNewsTexas

Marcus & Millichap Brokers Sale of 17,107-Square-Foot Long Prairie Plaza in Metro Fort Worth, Texas

by Abby Cox

Flower Mound, Texas — Marcus & Millichap has brokered the sale of Long Prairie Plaza, a 17,107-square-foot retail center located in Flower Mound, roughly 25 miles northeast of Fort Worth. The center comprises two adjacent multi-tenant buildings constructed in 2022. Tenants at the property, which was fully leased at the time of sale, include Active Dental, TeaCupfuls, Fiore Nail Bar, Cold Stone Creamery, JDX Blinds, Zelene Head Spa, Degree Wellness and Donatos Pizza. Philip Levy and Chris Gainey of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, a Florida-based private capital investor, in the …

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Deer-Valley-Shoppes
ArizonaColoradoInvestment salesNevadaNewsNorth Carolina

CenterSquare Acquires Four Centers

by Abby Cox

Conshohocken, Pa. — Conshohocken, Pennsylvania-based CenterSquare Investment Management has acquired four shopping centers in four states. The portfolio includes Trade Court Shoppes Add-On, a fully leased, 14,721-square-foot retail center in Charlotte, North Carolina; Deer Valley Shoppes, a 17,000-square-foot retail strip center in Phoenix; Lake Mead Gateway Plaza, a fully leased, 19,671-square-foot shopping center in Henderson, Nevada; and The Shops at Foothills Mall, a 111,220-square-foot retail center in Fort Collins, Colorado. Together, the shopping centers span more than 162,000 square feet and were 93 percent occupied at the time of sale.

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The-Legacy
Investment salesNewsTexas

JLL Negotiates Sale of 353,000-Square-Foot Lifestyle Center in San Antonio

by Abby Cox

San Antonio — JLL Capital Markets has negotiated the sale of The Legacy, a 353,000-square-foot lifestyle center located in San Antonio. Barry Brown, Whitney Snell and Shea Petrick of JLL represented the seller, Santikos Real Estate Services. Rio Capital, in partnership with Triangle Capital Group, purchased the property. Built in 2006 on 32.2 acres, The Legacy features a mix of tenants such as Main Event Entertainment, Best Buy, Spec’s, Paul Mitchell and Buffalo Wild Wings. Along with ground-floor retail, the property includes second floor office space and five pad sites.

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