Investment sales

University-Station
GeorgiaInvestment salesNews

Colliers Negotiates Sale of 30,865-Square-Foot Retail Center in Statesboro, Georgia

by Abby Cox

Statesboro, Ga. — Colliers has negotiated the sale of University Station, a newly constructed, 30,865-square-foot retail center located near the Georgia Southern University campus in Statesboro. Tenants at the center, which was fully leased at the time of sale, include QDOBA, Hotworx, Eyemart Express, Uptown Cheapskate, Blaze Pizza and Oconee State Bank, among others. The property is part of a larger development surrounding the university that includes a recently developed Publix-anchored shopping center, new student housing projects and additional residential growth. Henry Kushner, Ashley Smith and Tyler Mouchet of Colliers represented …

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hannah-plaza
Investment salesMarylandNews

Timber Development Sells 65,000-Square-Foot Shopping Center in Western Maryland for $2.2 Million

by Abby Cox

Cresaptown, Md. — Atlanta-based Timber Development Corp. has sold Hannah Plaza, a 65,000-square-foot shopping center located in Cresaptown, a city in Allegany County. An auto dealer purchased the property for $2.2 million, and plans to convert the empty grocery anchor space into a car dealership. The remainder of the center is fully leased to small shops. Doug Macy of Long & Foster brokered the transaction on behalf of the buyer.

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2029-S-Hacienda-Blvd-Hacienda-Heights-CA
CaliforniaInvestment salesNews

Marcus & Millichap Brokers $13 Million Sale of Retail Center in Hacienda Heights, California

by Abby Cox

Hacienda Heights, Calif. — Marcus & Millichap has brokered the $13 million sale of Hacienda Village, a 23,645-square-foot retail center located in Hacienda Heights, approximately 19 miles southeast of downtown Los Angeles in the San Gabriel Valley. Built in 1963, the property features 17 retail suites that are leased to a mix of local food-and-beverage and service-oriented tenants. A Los Angeles-based private investor acquired the property for $549.80 per square foot. Ron Duong of Marcus & Millichap represented the seller, an Orange County, California-based private partnership, in the transaction.

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Investment salesNewsVirginia

SRS Real Estate Arranges $14.9 Million Sale of Two-Tenant Retail Property Near Washington, D.C

by Abby Cox

Vienna, Va. — SRS Real Estate Partners has arranged the $14.9 million sale of a two-tenant retail property located in Vienna, roughly 15 miles west of Washington, D.C. Built in 2019, the two-story building is fully occupied by Chick-fil-A on the ground floor, while Flagship Carwash operates a full-service facility on the second floor. Andrew Fallon and Philip Wellde of SRS represented the seller, the original developer of the property. The buyer was a local investor.

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The-Shoppes-at-Parma
Grocery-anchoredInvestment salesNewsOhio

Hendon Properties Acquires 734,199-Square-Foot Shopping Center in Metro Cleveland, Ohio

by Abby Cox

Parma, Ohio — Atlanta-based Hendon Properties, in a joint venture with Axiom Realty and Peaceable Street Capital, has acquired The Shoppes at Parma in the Cleveland suburb of Parma. Anchor tenants at the 734,199-square-foot shopping center include Walmart Supercenter, Burlington, Dick’s Sporting Goods and grocer Marc’s. The deal includes six outparcels with a variety of tenants such as Crumbl Cookies, T-Mobile, Five Guys Burgers & Fries and Panera Bread. Opened in 1956, the property was formerly known as Parmatown Mall. The center marks the fifth property acquired by The Hendon …

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Comatara-Center
Investment salesKansasNews

Prudent Growth Partners Acquires Neighborhood Center in Wichita, Kansas, for $7.7 Million

by Abby Cox

Wichita, Kan. — North Carolina-based Prudent Growth Partners has acquired Comotara Center, a 55,650-square-foot neighborhood center located in Wichita, for $7.7 million. Originally constructed in 1985 and expanded in 1987, the center was 93 percent leased at the time of sale to 13 tenants including Dollar Tree, Five Guys, Edward Jones and State Farm.

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South-Town-Crossing-II
Investment salesNewsTexas

Westwood Financial Purchases 23,300-Square-Foot Retail Center in Metro Fort Worth, Texas

by Abby Cox

Burleson, Texas — Los Angeles-based Westwood Financial has acquired South Town Crossing II, a 23,300-square-foot retail center located in Burleson, approximately 13 miles south of downtown Fort Worth. Target shadow anchors the property, which adjoins South Town Crossing I, a 59,986-square-foot retail center. South Town Crossing II was fully leased at the time of sale to tenants including Petco, Mathnasium, Mattress Firm and Glitz Nails. With this acquisition, Westwood now owns 83,286 square feet within South Town Crossing, representing 82 percent of the shop space surrounding the Target anchor.

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mayfair-shopping-center
Grocery-anchoredInvestment salesNew YorkNews

Brixmor Acquires 221,612-Square-Foot Mayfair Shopping Center in Commack, New York, for $70 Million

by Abby Cox

Commack, N.Y. — Brixmor Property Group has acquired Mayfair Shopping Center, a 221,612-square-foot retail property located in the Long Island community of Commack, for $70 million. Lidl, Planet Fitness and PGA TOUR Superstore anchor the property, which was built in 1958. Other tenants at the center include Gap, Sephora, J.Crew Factory, H&R Block, and Tropical Smoothie Café. M Nail and Lash Bar recently signed a new lease at the retail center, while MyGym opened this January. Kid’s Empire, which is under construction, is expected to open later this year. Allison Villamagna …

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Super Star Car Wash
CaliforniaInvestment salesNews

SRS Real Estate Brokers $6.2 Million Sale of Single-Tenant Retail Property in Newport Beach, California

by Abby Cox

Newport Beach, Calif. — SRS Real Estate Partners has brokered the $6.2 million sale of a single-tenant retail property in Newport Beach. Super Star Car Wash occupies the 6,947-square-foot building on a corporate-guaranteed absolute triple-net lease, with approximately 20 years remaining. Calvin Short and Aron Cline of SRS Real Estate represented the seller, a Phoenix-based owner and operator. The buyer was a Los Angeles-based private investor.

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main-avenue-shopping-plaza
ConnecticutGrocery-anchoredInvestment salesNews

Clarion Partners Acquires 156,568-Square-Foot, Grocery-Anchored Center in Norwalk, Connecticut

by Abby Cox

Norwalk, Conn. — Clarion Partners, on behalf of Clarion Partners Real Estate Income Fund, has acquired Main Avenue Shopping Plaza, a 156,568-square-foot shopping center located in the southern coastal Connecticut city of Norwalk. According to the Hartford Business Journal, the property sold for $45.2 million. The retail center, which was fully leased at the time of sale, is anchored by Stop & Shop, Hobby Lobby and Total Wine & More. JLL represented the seller, a joint venture between Sagehall Partners and The Prusik Group, in the transaction.

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