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Investment sales

Telecom Village
FloridaInvestment salesNews

SRS Real Estate Brokers $4 Million Sale of Multi-Tenant Retail Property in Metro Tampa

by Abby Cox

Temple Terrace, Fla. — SRS Real Estate Partners has brokered the $4 million sale of Telecom Village, a 6,323-square-foot multi-tenant retail property in the Tampa suburb of Temple Terrace. The property — which sits on roughly 1.1 acre — was fully leased at the time of sale by four tenants including Foxtail Coffee Co., Zoom Tan, Hummus Republic and Barberitos. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the transaction. The buyer was a Tampa-based private investor who purchased the property with a …

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Hicone Shopping Center
Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Realty Brokers Sale of 88,961-Square-Foot Shopping Center in Greensboro, North Carolina

by Abby Cox

Greensboro, N.C. — Legacy Realty Group Advisors has brokered the sale of Hicone Shopping Center, an 88,961-square-foot grocery-anchored retail center in Greensboro. The property — which is anchored by Food Lion — is situated on more than 15 acres, according to the Triad Business Journal. Additional retailers at the property include CVS Pharmacy, a Goodwill store, Koronda’s Sports Bar & Grill, H&R Block, the State Employees’ Credit Union, Hicone Car Wash and four restaurants. Jacob Baruch and Daniel Baruch of Legacy Realty Group Advisors, represented the seller. Will Whitley of …

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Chick-fil-A at Midlothian Towne Center
Investment salesNewsTexas

Younger Partners Arranges Sale of Three Restaurant Parcels in Midlothian, Texas

by Abby Cox

Midlothian, Texas — Dallas-based Younger Partners Investments (YPI) has arranged the sale of three restaurant parcels at Midlothian Towne Crossing, a Class A power center located about 25 miles south of Dallas. The restaurant parcels include Chili’s Grill & Bar, Chick-fil-A and McDonald’s. Built in 2019, the Chili’s restaurant is situated on 1.7 acres on a 10-year lease. McDonald’s, which also operates on a long-term lease, sits on 1.1 acres and includes a double drive-thru, parking, as well as accessible highway access. Chick-fil-A features two drive-thru lanes with indoor seating …

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Crossroads Plaza
IndianaInvestment salesNews

Marcus & Millichap Brokers $4.2 Million Sale of Retail Center in Merrillville, Indiana

by Abby Cox

Merrillville, Ind. — Marcus & Millichap has brokered the $4.2 million sale of Crossroads Plaza, a grocery-anchored retail center in Merrillville, roughly 30 miles outside Chicago. Ruler Foods, Trader Buck’s and Treasure Hunt Deals anchor the center, which totals 184,721 square feet. Additional tenants at the property include Family Dollar, Subway, Papa Johns Pizza and Rent-A-Center. Eric Abbott and Andrew Margulies of Marcus & Millichap, along with Adam Sklaver and Philip Kates of Marcus & Millichap’s Commercial Property Auction Services, marketed the property on behalf of the seller and procured …

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BJ's Wholesale Club
Grocery-anchoredInvestment salesMaineNews

Marcus & Millichap Arranges $12.5 Million Sale of Retail Property in Central Maine

by Abby Cox

Bangor, Maine — Marcus & Millichap has arranged the $12.5 million sale of a BJ’s Wholesale Club located in the central Maine community of Bangor. The building is situated on 13 acres and totals 91,828 square feet. Recent upgrades to the property include a complete interior and exterior renovation, and the addition of a new roof and a gas and propane filling station. The property is double-net-leased with scheduled rent increases every five years. Adam Cohen and Brett Kilar of Marcus & Millichap represented the undisclosed seller and procured the …

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ConnecticutInvestment salesNews

Colliers Arranges $2.9 Million Sale of Retail Building in Mystic, Connecticut

by Abby Cox

Mystic, Conn. — Colliers has arranged the $2.9 million sale of a retail building in Mystic. The property was formerly occupied by Bank Street Book Store and totals 9,000 square feet, according to LoopNet Inc. John Cafasso of Colliers represented the buyer, jeweler Lux Bond & Green, which also plans to occupy the property. Judi Carcausa of William Pitt Sotheby’s International Realty represented the undisclosed seller in the transaction.

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Market 32 Grocer
Grocery-anchoredInvestment salesNew YorkNews

IPA Arranges Sale of Former ShopRite Retail Property in Albany, New York, for $23.8 Million

by Abby Cox

Albany, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a former ShopRite Supermarket located on the west bank of the Hudson River, for $23.8 million. The Golub Corp. — which operates supermarkets under the Price Chopper, Market 32 and Market Bistro banners — has assumed the lease for the property and secured a 15-year extension. This transaction marks the fifth ShopRite store that Golub has acquired in the Capital Region of New York. The newly renovated Market 32 Grocer opened in …

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Chipotle and Starbucks in Rancho Cucamonga
CaliforniaInvestment salesNews

Hanley Investment Arranges $6.2 Million Sale of Retail Property in Rancho Cucamonga, California

by Abby Cox

Rancho Cucamonga, Calif. — Hanley Investment Group has arranged the $6.2 million sale of two freestanding buildings in Rancho Cucamonga, in the Inland Empire area of Southern California. The properties — which are situated on a 1.3-acre-parcel — include a 2,508-square-foot Chipotle Mexican Grill and a 4,000-square-foot Starbucks Coffee drive-thru. Originally built in 2003, Chase Partners Ltd, fully renovated the property, which included a 2,500-square-foot expansion of Starbucks Coffee. Chipotle, which recently extended its property lease an additional five years, has nine total years remaining on its lease. Starbucks Coffee …

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Five Rivers Plaza
Investment salesNewsTennessee

Marcus & Millichap Brokers $2 Million Sale of Retail Strip Center in Greater Knoxville Area 

by Abby Cox

Newport, Tenn. — Marcus & Millichap has brokered the roughly $1.97 million sale of Five Rivers Plaza located in Newport, 41 miles east outside Knoxville. The retail center — which totals 40,085 square feet — was fully leased at the time of sale. Family Dollar Tree anchors 55 percent of the property on a five-year lease. There are four years remaining on the lease with five, five-year renewal options. Other tenants at the property include Little Caesars, Cricket Wireless and Vape & Tobacco Shop. Zach Taylor and Eric Abbott of …

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Quakerbridge Shoppes
Investment salesNew JerseyNews

Marcus & Millichap Facilitates $8.3 Million Sale of Retail Center in Hamilton Township, New Jersey

by Abby Cox

Hamilton Township, N.J. — Marcus & Millichap has facilitated the $8.3 million sale of Quakerbridge Shoppes located in Hamilton Township, a suburb of Trenton. The retail center — which totals 42,912 square feet and sits on roughly five acres — houses 18 tenants including Northfield Bank and Villa Maria Restaurant. Alan Cafiero and Brent Hyldahl of Marcus & Millichap marketed the property on behalf of the undisclosed seller and procured the buyer in the transaction. 

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