Investment sales

The Shops at Evergreen Walk

Windsor, Conn. — CBRE has arranged the $98 million sale of The Shops at Evergreen Walk, a 400,000-square-foot lifestyle center in Windsor, a northern suburb of Hartford. Brand Street Properties and Barings acquired the property, while Nat Heald of CBRE National Retail Partners represented the seller, PGIM, in the transaction. Anchored by Whole Foods Market, The Shops at Evergreen Walk features a mix of additional tenants including L.L. Bean, Apple, Anthropologie, Pottery Barn, Sephora, lululemon, Nike and Williams-Sonoma.

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Starbucks_Perris

Perris, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.8 million sale of a newly constructed, single-tenant retail property located in the Inland Empire city of Perris. A Starbucks café and drive-thru occupies the 2,200-square-foot building on a 10-year triple-net corporate lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Yellow Rose Ranch LLC, an affiliate of The Lynch Group. Betty Gulezyan of I.D.L. Home represented the buyer, a private investor based in Newport Beach, California. …

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coosa-commons

Pell City, Ala. — Atlanta-based The Aly Group has acquired Coosa Commons, a 9,824-square-foot retail center located in Pell City, approximately 30 miles west of Birmingham. Tenants at the property include Starbucks Coffee, Jersey Mike’s, Wingstop and The St. Clair. Jacob Fahner of Hanley Investment and Scott Reid of ParaSell Inc. represented the seller in the transaction.

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eastland-plaza

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

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

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

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

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

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

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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