Investment sales

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Investment salesMinnesotaNews

Atlantic Capital Partners Arranges $64.8 Million Sale of Shopping Center in Metro Minneapolis

by Hayden Spiess

St. Louis Park, Minn. — Atlantic Capital Partners has arranged the sale of The Shops at West End, a 381,804-square-foot shopping center located south of downtown Minneapolis in St. Louis Park. An undisclosed buyer purchased the property for $64.8 million. Duke Realty Corp. developed The Shops at West End in 2009. The center, which was 81 percent leased at the time of sale, features 36 retail tenants as well as office space. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic worked with Kris Schisel and Anthony …

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Investment salesKansasNews

JLL Brokers Sale of 363,076-Square-Foot Retail Center in Metro Kansas City

by Hayden Spiess

Merriam, Kan. — JLL Capital Markets has brokered the sale of Merriam Town Center, a 363,076-square-foot open-air retail center located in Merriam, approximately 10 miles southwest of Kansas City. Built in 1998, the property was 97 percent leased at the time of sale. Tenants include The Home Depot, Dick’s Sporting Goods, Cinemark, Ross Dress for Less and PetSmart. Amy Sands and Michael Nieder of JLL represented the undisclosed seller in the transaction. The R.H. Johnson Co. acquired the property for an undisclosed price.

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ColoradoInvestment salesNews

Armstrong Capital Development Sells 16,600-Square-Foot Parker Keystone Retail Center in Metro Denver

by Hayden Spiess

Parker, Colo. — Armstrong Capital Development (ACD) has completed the sale of Parker Keystone, a 16,600-square-foot retail center located in Parker, roughly 25 miles southeast of Denver. A publicly traded REIT acquired the property for an undisclosed price. Located at the intersection of South Parker Road and Lincoln Avenue, the multi-tenant center was fully leased at the time of sale to tenants including Bank of America, Wingstop, Dunkin’ Donuts and AAA Colorado. ACD completed the transaction on behalf of its ACD 2013 Fund LP. Cory Gross of Marcus & Millichap …

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Investment salesMissouriNet leaseNews

Marcus & Millichap Arranges $2.9 Million Sale of Net-Leased Walmart Property in Southeast Missouri

by Hayden Spiess

Malden, Mo. — Marcus & Millichap has brokered the sale of a 43,770-square-foot retail property occupied by Walmart in Malden, which is part of the Missouri Bootheel in the southeast portion of the state. A limited liability company purchased the net-leased property for $2.9 million in an all-cash transaction. Walmart has five years remaining on its lease. Jared Shapiro, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company and private investor, and secured the buyer in the transaction. David Saverin, Missouri …

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Grocery-anchoredInvestment salesNewsPennsylvania

Larken Associates Acquires 203,907-Square-Foot Shopping Center in Eastern Pennsylvania

by Hayden Spiess

Metamoras, Pa. — Larken Associates has acquired Westfall Town Center, a 203,907-square-foot shopping center located in Matamoras, at the nexus of the New York-New Jersey-Pennsylvania border. A 73,000-square-foot ShopRite anchors the property, and other tenants include Flagship Cinemas, T.J. Maxx, Planet Fitness, Dollar Tree and Wendy’s. The seller was CenterPoint Properties. Derek Zerfass and Scott Horner of Colliers represented both parties in the transaction.

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Investment salesNet leaseNewsVirginia

Avison Young Brokers $20.4 Million Sale of Single-Tenant Property in Suburban Washington, D.C.

by Hayden Spiess

Tysons, Va. — Avison Young has brokered the sale of a 32,857-square-foot, single-tenant retail property located in Tysons, a western suburb of Washington, D.C. An institutional buyer acquired the building for $20.4 million. Jonathan Hipp, Richard Murphy and Timothy Farrell of Avison Young represented the seller, an entity doing business as Qualified Opportunity Fund LLC. REI Coop occupies the property on a net-lease basis.

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Grocery-anchoredInvestment salesMarylandNews

KLNB Arranges $10.8 Million Sale of Shopping Center in Metro Washington, D.C.

by Hayden Spiess

Upper Marlboro, Md. — KLNB has arranged the $10.8 million sale of Marlboro Square, a 92,649-square-foot shopping center located in Upper Marlboro, a suburb of Washington, D.C. Vito Lupo, Chris Burnham, Andy Stape and Jake Furnary of KLNB represented the seller, an entity doing business as Marlboro Investors LLC, in the transaction. Renaud Consulting represented the undisclosed buyer. Marlboro Square was fully leased at the time of sale to tenants including Weis, Advance Auto Parts and Dollar Tree, as well as medical, fitness and food-and-beverage tenants.

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Investment salesMichiganNews

Northmarq Arranges $2.6 Million Sale of Single-Tenant Property Near Ann Arbor, Michigan

by Hayden Spiess

Ypsilanti, Mich. — Northmarq has arranged the $2.6 million sale of a single-tenant retail property located in Ypsilanti, roughly 8 miles southeast of Ann Arbor. AMERCO Real Estate Co. acquired the property, which sits on 11 acres and totals 91,743 square feet. The building was formerly leased to At Home. Isaiah Harf of Northmarq’s Chicago office represented the seller, a New York-based institutional investor, in the transaction.

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Grocery-anchoredIllinoisInvestment salesNews

Kimco Realty Sells Retail Center in Suburban Chicago for $20.5 Million

by Hayden Spiess

Batavia, Ill. — Kimco Realty has sold Wind Point Shopping Center, a 274,282-square-foot retail center located in Batavia, a western suburb of Chicago. PMAT acquired the property for $20.5 million. Amy Sands, Clinton Mitchell and Michael Nieder of JLL arranged the transaction on behalf of Kimco. Built in 1999, the retail center was 72.5 percent occupied at the time of sale. Aldi and Hobby Lobby anchor the property. Other tenants include Kohl’s, Office Max, Petland, Chili’s, Mattress Firm, AT&T and Swordfish Sushi.

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Investment salesNewsTexas

Faris Lee Arranges $8.7 Million Sale of Retail Building in Dallas-Fort Worth Metro

by Hayden Spiess

Euless, Texas — Faris Lee Investments has arranged the $8.7 million sale of an 11,620-square-foot retail building located in the central metroplex city of Euless. The property, which is an outparcel building to the 194-acre Glade Parks Town Center mixed-use development, was fully leased at the time of sale to Sleep Number, Salata, Jersey Mike’s, LoveSac and Total Men’s Primary Care. Jeff Conover and Scott DeYoung of Faris Lee represented the buyer, a family office based in the Midwest that acquired the asset via a 1031 exchange, in the transaction. …

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