Investment sales

Shops-of-Orland-Park
IllinoisInvestment salesNews

Marcus & Millichap Brokers $2.1 Million Sale of 15,886-Square-Foot Retail Strip Center in Metro Chicago

by Abby Cox

Orland Park, Ill. — Marcus & Millichap has brokered the $2.1 million sale of the Shops at Orland, a 15,886-square-foot retail strip center located at 11229 W. 143rd St. in the southern Chicago suburb of Orland Park. Built in 2003, the six-suite retail property is currently 48 percent vacant. RoccoVino’s Italian Restaurant anchors the property. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a private investor group, and procured the buyer, a private, out-of-state 1031 buyer, in the transaction.

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wolf-ranch-tj-maxx
Grocery-anchoredInvestment salesNewsTexas

Joint Venture Acquires Two Retail Centers Totaling 1 Million Square Feet in Texas

by Abby Cox

Georgetown and Cedar Park, Texas — A joint venture between Toronto-based Oxford Properties and Oakbrook Terrace, Illinois-based Pine Tree has acquired two grocery-anchored centers in Texas. Spanning 1 million square feet, the portfolio includes Wolf Ranch Town Center in Georgetown and Lakeline Plaza in Cedar Park. The centers, which are both 99 percent occupied, are home to several national tenants such as Target, T.J. Maxx, Best Buy and Ulta Beauty. Wolf Ranch Town Center totals 633,000 square feet and features more than 80 retailers and restaurants. Lakeline Plaza, comprises 386,000 square …

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riverdale-shopping-center-utah
Investment salesNews

ZRP Acquires Riverdale Shopping Center in Metro Salt Lake City for $20 Million

by Abby Cox

Riverdale, Utah — Ziff Real Estate Partners (ZRP) has acquired Riverdale Shopping Center, a 93,592-square-foot shopping center located in Riverdale, approximately 35 miles north of downtown Salt Lake City. T.J. Maxx and Ulta Beauty anchor the property, which was built in 2007, according to Loop Net Inc. JT Redd and Kip Paul of Cushman & Wakefield represented the seller. Christian Chamblee and Brooke Frey internally represented ZRP in the transaction.

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9830-9880-W-Sample-Rd
FloridaInvestment salesNews

Marcus & Millichap Arranges $7.4 Million Sale of 25,905-Square-Foot Retail Property in Coral Springs, Florida

by Abby Cox

Coral Springs, Fla. — Marcus & Millichap has arranged the $7.4 million sale of a 25,905-square-foot neighborhood center located at 9830–9880 W. Sample Road in the Broward County community of Coral Springs. Situated on roughly 1.6 acres, the center is anchored by Wings Plus, and includes mix of dental, medical, education and service-oriented tenants. Douglas Mandel, Zach Levine and Cody Hershey of Marcus & Millichap marketed the property on behalf of the seller, The Geneva Group. Tarek Chbeir, also of Marcus & Millichap, along with Mandel, Levine and Hershey, procured the buyer, David …

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Doral-Square
FloridaInvestment salesNews

Terra Arranges $74 Million Sale of Doral Square in South Florida

by Abby Cox

Doral, Fla. — Terra has arranged the $74 million sale of Doral Square, a 150,000-square-foot lifestyle center in Doral, a western suburb of Miami. North Miami-based IMC Equity Group was the buyer. Situated at the gateway to downtown Doral, the property is anchored by Marshalls, Ross Dress for Less and UFC Gym. Additional tenants include HomeGoods, Pet Supermarket, One Medical, Laser Away, AT&T, Paradise Grills, European Wax Center, First Watch, Jersey Mike’s, Just Salad, Panda Express, Nacion Sushi, Lima Bakery, Miu’s Tea and El Toro Loco. Mark Gilbert of Cushman & Wakefield brokered the transaction. Ocean Bank …

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3055-Shasta-View-Dr-Redding-CA
CaliforniaInvestment salesNews

SRS Real Estate Brokers $12.8 Million Sale-Leaseback of Retail Center in Northern California

by Abby Cox

Redding, Calif. — SRS Real Estate Partners has arranged the sale-leaseback of a retail property located at 3055 Shasta View Drive in Redding. North State Grocery sold the property to an undisclosed real estate investment trust for $12.8 million. Holiday Market occupies the 31,222-square-foot building on an absolute triple-net lease with 20 years remaining, including scheduled rent increases and multiple options to renew. The grocery store is part of the Holiday Marketplace that also includes Starbucks Coffee and Quick Quack Car Wash. Alexander Moore of SRS Capital Markets represented the …

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Grocery-anchoredInvestment salesNewsNorth Carolina

Sigmund Cos. Acquires 84,373-Square-Foot Grocery-Anchored Center in Cary, North Carolina

by Abby Cox

Cary, N.C. — The Sigmund Cos. (TSC) has acquired Millpond Village, an 84,373-square-foot grocery-anchored center located in Cary, a suburb of Raleigh. TSC will operate the property as part of a joint venture with a Washington, D.C.-based institutional partner. Anchored by Publix, Millpond Village features other national tenants such as Dollar General and Starbucks. Berkeley Capital Advisors represented the seller in the transaction. CBRE will handle leasing at the center, while Cushman & Wakefield will provide management services.

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ArizonaInvestment salesNews

Time Equities Acquires Cactus Plaza in Metro Phoenix for $4.5 Million

by Abby Cox

Glendale, Ariz. — New York City-based Time Equities Inc. (TEI) has acquired Cactus Plaza, a 25,620-square-foot neighborhood shopping center in Glendale, roughly nine miles northwest of downtown Phoenix near the Arizona State University West Valley campus. Built in 1985, the center was 93 percent leased to a mix of restaurant, beauty and service-oriented tenants at the time of sale. Cactus Plaza marks the second retail property that TEI has acquired in the state. Ami Ziff, Jonathan Kim and Grant Scott internally represented TEI in the transaction. Chase Dorsett of Newmark represented …

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Fairfield Town Center
Investment salesNewsTexas

Joint Venture Acquires 355,000-Square-Foot Fairfield Town Center in Metro Houston

by Abby Cox

Cypress, Texas — A joint venture between Charlotte, North Carolina-based Big V Property Group and Principal Asset Management has acquired Fairfield Town Center, a 355,000-square-foot power center located in Cypress, roughly 25 miles northwest of Houston. Tenants at the property, which was 99.5 percent occupied at the time of sale, includes HEB, Kohl’s, Academy Sports + Outdoors, Ross Dress for Less, HomeGoods and Cinemark, as well as various other smaller shops and restaurants. This acquisition marks Big V Property Group’s first institutional joint venture for the company.

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polo-club-shops-boca-raton
FloridaGrocery-anchoredInvestment salesNews

Cushman & Wakefield Negotiates Sale of 134,832-Square-Foot Grocery-Anchored Shopping Center in Boca Raton, Florida

by Abby Cox

Boca Raton, Fla. — Cushman & Wakefield has negotiated the sale of Polo Club Shops, a 134,832-square-foot neighborhood center located in Boca Raton. The center is anchored by Publix, which completed a full demolition and reconstruction of its store in 2022, expanding the property by an additional 48,387 square feet. Publix is operating with a new 20-year lease. Other tenants at Polo Club Shops include Beignets & Brews, Brendy’s Ice Cream, Ernie’s Açai Bowls, First Watch, Peak Beauty Studio, Manhattan Joe’s Pizzeria, Pet Supermarket and Phenix Salon Suites. Mark Gilbert, Adam …

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