Investment sales

Streets of Woodfield

Schaumburg, Ill. — A joint venture between PCCP and Hutensky Capital Partners has acquired Streets of Woodfield, a 690,000-square-foot shopping center located in the northwestern Chicago suburb of Schaumburg. According to the Daily Herald, Blackstone sold the property for $69 million. Blackstone originally purchased the shopping center for $168.5 million in 2015. Built in 1991, Streets of Woodfield was 94 percent leased to 22 tenants at the time of sale including Whole Foods Market, Dick’s House of Sport, AMC Theatres, Restoration Hardware Outlet, Legoland and Dave & Buster’s.

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7-Eleven-Rep-Photo

Winter Haven, Daytona Beach and Ocoee, Fla. — SRS Real Estate Partners has negotiated the sale of three single-tenant retail properties in two separate transactions for $28.8 million in Florida. Each newly constructed property is occupied by 7-Eleven on a 15-year, corporate-guaranteed absolute triple-net lease. The first property in Winter Haven sold for $9.5 million, while the second property in Ocoee sold for $9.67. The final property in Daytona Beach sold for $9.5 million. Patrick Nutt and William Wamble represented the sellers, Florida-based developers, in the transaction. The Winter Haven and …

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Turtle Run Shoppes

Coral Springs, Fla. — Pliskin Realty & Development has acquired Turtle Run Shoppes, an 80,000-square-foot retail center located in Coral Springs, a city in South Florida’s Broward County, for $19.5 million. Built in 1990 and renovated in 2018, Turtle Run Shoppes was 92 percent leased at the time of sale. Tenants include America’s Best Contacts and Eyeglasses, Cycle Gear, My Salon Suite, Smoothie King, La Brasas Bar & Restaurant, the U.S. Postal Service and Ross Dress for Less, which anchors the center. Douglas Mandel, Zach Levine and Cody Hershey of Marcus …

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Olde Canal Plaza

Plainville, Conn. — Marcus & Millichap has brokered the $5.2 million sale of Olde Canal Plaza, a 34,194-square-foot retail center located in Plainville, a southwestern suburb of Hartford. Built in 1987 on more than 3 acres, Olde Canal Plaza is 93 percent leased to office, medical and retail tenants, such as The Pottery Piazza, Husky Pizza, Connecticut Centers for Neuropathy and sweetFrog Yogurt, according to Loop Net. Mark Krantz and Derrick Dougherty of Marcus & Millichap procured the buyer, a private investor based in New York. Frank Amodio and Eric Amodio of Amodio & …

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Daycare-Center-Portfolio

Iowa, Minnesota and Nebraska — Marcus & Millichap has brokered the $41.6 million sale of a collection of 18 triple net leased early childhood development centers in Iowa, Minnesota and Nebraska. Spencer Berkley, Mark Ruble, Chris Lind, Zack House, Jon Ruzicka and Adam Lewis of Marcus & Millichap represented the sellers, Ben Ditzer and Bob Carlson of Triple Net Capital, and procured the buyer, a Florida-based real estate investment trust. The portfolio included a range of lease structures and ownership entities. Two additional properties were sold separately to private buyers …

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chipotle_ohio

Piqua, Ohio — Cooper Commercial Investment Group has negotiated the sale of a single-tenant retail property located in Piqua, roughly 28 miles north of Dayton. Chipotle Mexican Grill occupies the building — which includes a drive-thru and patio seating — on a new 15-year lease featuring 10 percent rental increases in the sixth and 11th years. Dan Cooper of Cooper Commercial represented the seller. The all-cash, 1031 exchange buyer was based in California.

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bowie-town-center

Bowie, Md. — CBRE has negotiated the sale of Bowie Town Center, a 293,099-square-foot lifestyle center in Prince George County, Maryland, bordering the eastern portion of Washington, D.C. A partnership between Nile Equity Group and Community Real Estate Co. purchased the property for an undisclosed price. Ryan Sciullo, Chris Munley, Colin Behr, Casey Smith and RJ Mirabile of CBRE’s National Retail Partners Mid-Atlantic represented the seller in the transaction. Bowie Town Center was 86 percent leased at the time of sale to tenants including Bath & Body Works, Barnes & Noble, …

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Best-Buy

Lake Geneva, Wis. — Marcus & Millichap has arranged the $4.9 million sale of a 30,162-square-foot retail building net leased to Best Buy in Lake Geneva, about 50 miles southwest of Milwaukee. Best Buy has occupied the property, which is part of a retail strip center shadow anchored by Target, since it was built in 2008. Jeff Rowlett and Eric Wagner of Marcus & Millichap represented the seller, BB Geneva LLC, and procured the buyer, Agree Central LLC, in the transaction.

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Creekside Village Green

The Woodlands, Texas — JLL Capital Markets has arranged the sale and financing of Creekside Village Green, a 74,615-square-foot lifestyle center located in The Woodlands, roughly 30 miles north of Houston. John Indelli, Adam Howells, Ryan West and Dawson Hastings of JLL represented the seller, Kobalt Investment Co., in the transaction. Phillips Edison & Co. was the buyer. Creekside Village Green was 98 percent leased at the time of sale to tenants including Field’s Local Kitchen & Bar, Shogun Japanese Grill & Sushi, Jordan’s Sweet Shoppe, Frutta Bowls, Threadfare Children’s …

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shoppes-at-destiny

Destin, Fla. — The Dowd Cos. has brokered the $5.1 million sale of The Shoppes of Destiny, a 12,734-square-foot retail center located in Destin. The center was fully leased at the time of sale to five tenants including Avantgarde Salon, Beyond Fit, Bella Beach, Beautiful Lights and Kiki Rissa. John Dowd and Theresa Johnson of The Dowd Cos. represented the seller in the transaction. The buyer was a Destin-based local investor.

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