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Investment sales

College-Plaza_Fort-Myers-Fla
FloridaInvestment salesNews

CBRE Brokers $14.6 Million Sale of College Plaza Retail Center in Fort Myers, Florida

by Hayden Spiess

Fort Myers, Fla. — CBRE has brokered the $14.6 million sale of College Plaza, a retail center located in Fort Myers. An entity doing business as College Plaza Center LLC acquired the property from an entity doing business as College Venture 1 LLC. Jim Shiebler of CBRE represented both the buyer and seller in the transaction. Tenants at College Plaza, which totals 56,386 square feet, include Ada’s Natural Market, West Marine and Pet Supermarket. The center also features an outparcel occupied by Five Guys, Tijuana Flats and The Good Feet Store. 

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Investment salesNewsTexas

Headwall Investments Acquires 29,114-Square-Foot Shopping Center in Metro Houston

by Hayden Spiess

Pasadena, Texas — Headwall Investments has acquired Fairmont Crossing Retail Center, a 29,114-square-foot shopping center located in Pasadena, roughly 15 miles outside Houston. Tenants at the property, which is situated on 3.3 acres, include Red Wing Shoes, Thriveworks, Just Love Coffee, Kirkwood Medical Associates and Fidelity National Title. The property was originally developed in two phases in 2008 and 2012. 

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Southside-Square_Kernersville-N.C
Investment salesNewsNorth Carolina

Legacy Brokers $17 Million Sale of Shopping Center in Kernersville, North Carolina

by Hayden Spiess

Kernersville, N.C. — Legacy Realty Group Advisors has brokered the $17 million sale of Southside Square, a shopping center located in Kernersville. The property totals 80,240 square feet across five buildings. Jacob Baruch, Daniel Baruch and Ari Warshaw of Legacy represented both the buyer and seller in the transaction. 

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FloridaGrocery-anchoredInvestment salesNew JerseyNews

PGIM Sells Grocery-Anchored Shopping Center Portfolio in Florida for $223.9 Million

by Hayden Spiess

Newark, N.J. — New Jersey-based PGIM Real Estate has sold a portfolio of seven grocery-anchored shopping centers in Florida. An undisclosed buyer purchased the portfolio, which comprises a total of 608,314 square feet of retail space, for $223.9 million. Danny Finkle, Eric Williams, Jorge Portela and Kim Flores of JLL represented PGIM in the disposition. Properties in the portfolio include Crestwood Square in Royal Palm Beach; Davie Shopping Center and Regency Square in Davie; Gladiolus Gateway in Fort Myers; Town Center at Orange Lake and Village Shops at Bellalago in Kissimmee; …

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Annapolis-Mall_Annapolis-Md
Investment salesMarylandNews

Centennial, Partners Acquire Annapolis Mall 

by Hayden Spiess

Annapolis, Md. — Centennial and partners Sandeep Mathrani, Waterfall Asset Management and Lincoln Property Co. have acquired Annapolis Mall, a shopping center located in Annapolis, roughly 30 miles outside Washington, D.C. The property features more than 200 retailers and restaurants, including Macy’s, Apple, Crate & Barrel, lululemon, H&M, Michael Kors, Tumi, Urban Outfitters, Free People, Footlocker, Zara, Maggiano’s, The Cheesecake Factory and AMC Theatres. DICK’S House of Sport and Dave & Buster’s also recently signed leases at the center. According to Steven Levin, founder and CEO of Centennial, there are no …

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Causeway-Shopping-Center_Melbourne-Fla
FloridaInvestment salesNews

TSCG Brokers $16.5 Million Sale of Causeway Shopping Center in Florida

by Hayden Spiess

Melbourne, Fla. — The Shopping Center Group (TSCG) has brokered the $16.5 million sale of Causeway Shopping Center in Melbourne. Ross Dress for Less, Michaels and Bealls anchor the property, which totals 111,816 square feet. Anthony Blanco of TSCG represented the seller, a joint venture between Forge Capital Partners and The Sembler Co. Darrell Deshaw of Western Retail Advisors represented the California-based buyer. Originally built in 1966 and renovated in 2008, the center was 85 percent leased at the time of sale. 

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Smithville-Square_Galloway-N.J
Investment salesNew JerseyNews

Cushman & Wakefield Arranges Sale of 106,931-Square-Foot Retail Center in New Jersey

by Hayden Spiess

Galloway, N.J. — Cushman & Wakefield has arranged the sale of Smithville Square, a 106,931-square-foot retail center located in Galloway. Western Building Co. acquired the property for $13.7 million. Frank DiTomasso, Andy Schwartz, Jordan Sobel, Max Helfman, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller, P3 Properties, in the transaction. Situated on 26 acres, the center was 97 percent leased to 19 tenants, including Curexa Pharmacy, at the time of sale. 

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Shepherds-Corner_Trexlertown-Pa
Investment salesNet leaseNewsPennsylvania

Colliers Negotiates $5.4 Million Sale of Shopping Center in Pennsylvania

by Hayden Spiess

Trexlertown, Pa. — Colliers has negotiated the $5.4 million sale of Shepherd’s Corner, a 9,512-square-foot shopping center located in Trexlertown. The property was fully leased at the time of sale. Derek Zerfass and Jeff Algatt of Colliers represented the seller in the transaction. Robbie Stephens of ERA Rudy Amelio represented the buyer. Tenants at the center occupy their respective spaces on a net-lease basis, with leases in place until at least 2032. 

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RiverTown-Crossings_Grandville-Mich
Investment salesMichiganNews

Poag Acquires 1.3 Million-Square-Foot Shopping Mall in Michigan

by Hayden Spiess

Grandville, Mich. — Memphis-based developer Poag Development Group has acquired RiverTown Crossings, a 1.3 million-square-foot enclosed shopping mall located in Grandville, a suburb southwest of Grand Rapids.  The two-story property featured 114 retailers at the time of sale, including Macy’s, Kohl’s, JCPenney, Celebration Cinemas and Dick’s Sporting Goods. The mall first opened in 1999. Although the seller was not disclosed, Brookfield Property Partners assumed ownership of the mall in 2018 as part of its $15 billion acquisition of giant shopping mall operator GGP Inc. The price was not disclosed. According to …

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The-Plant_San-Jose-Calif
CaliforniaInvestment salesNews

Atlantic Capital Partners Brokers $95 Million Sale of Retail Center in San Jose, California 

by Hayden Spiess

San Jose, Calif. — Atlantic Capital Partners has brokered the $95 million sale of The Plant, a retail center located in San Jose. Tenants at the property, which totals 367,000 square feet, include Target, Home Depot, Best Buy, PetSmart, Ross Dress for Less and Ulta Beauty. Justin Smith, Chris Peterson, Sam Koonce and Denielle Donovan of Atlantic represented the seller in the transaction and secured the buyer, Milan Capital Management. Stephen Joseph of Atlantic arranged acquisition financing on behalf of the buyer. The center was 65 percent occupied at the time …

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