Investment sales

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GeorgiaInvestment salesNews

Franklin Street Brokers $13 Million Sale of Shopping Center in Metro Atlanta

by Hayden Spiess

Kennesaw, Ga. — Franklin Street has brokered the $13 million sale of Town Center Commons, a 72,168-square-foot shopping center located in Kennesaw, a northwest suburb of Atlanta. 615 Ventures purchased the retail center from Ardent Cos. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction. Town Center Commons is anchored by Public Lands, the first Southeast location of a new outdoors and sporting goods retail concept from Dick’s Sporting Goods. Other tenants include Five Below, which recently renewed its lease, as well as The Original …

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340-River-Street-Cambridge-Mass
Grocery-anchoredInvestment salesMassachusettsNews

Benderson Development Acquires 53,400-Square-Foot Retail Center in Cambridge

by Hayden Spiess

Cambridge, Mass. — Benderson Development has purchased a 53,400-square-foot retail center located at 340 River St. in Cambridge. Anchored by a 40,000-square-foot Whole Foods Market and a 13,000-square-foot Walgreens, the property is approximately one mile from both Harvard University and Massachusetts Institute of Technology.

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Northwest-Shopping-Center-Palatine-Ill
FinanceIllinoisInvestment salesNews

Bellwether Arranges $74.5 Million Loan for Chicagoland Shopping Center Portfolio

by Hayden Spiess

Chicago — Bellwether Enterprise Real Estate Capital LLC (BWE) has secured a $74.5 million life company loan on behalf of Continental Realty Corp. (CRC) for the acquisition of a Chicagoland shopping center portfolio. CRC acquired the portfolio from DiMucci Cos. Comprising five properties and 900,000 square feet, the portfolio was 82 percent leased at the time of sale. The sale included Cicero Marketplace in Cicero, Illinois; Northwest Shopping Center and English Valley in Palatine, Illinois; Golf Plaza II in Mount Prospect, Illinois; and Fox River Commons in Naperville, Illinois. Together, …

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Investment salesNewsOhio

Sekulovski Group Brokers $14 Million Sale of Shopping Center Near Pittsburgh

by Hayden Spiess

Steubenville, Ohio — Sekulovski Group has arranged the $14 million sale of Rural King Plaza, a 215,360-square-foot shopping center located in Steubenville, roughly 40 miles west of Pittsburgh. A Brooklyn-based private investor acquired the property from PICOA Inc. of Los Angeles. Tony Sekulovski of Sekulovski Group brokered the transaction. Anchor Rural King occupies 104,230 square feet at the center, which was 97 percent leased at the time of sale. Other tenants at the property include Ollie’s and Planet Fitness, which occupy 43,600 and 20,365 square feet respectively. A 17,000-square-foot Dollar …

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Grocery-anchoredInvestment salesNewsNorth Carolina

Anchor Investments Acquires 208,000-Square-Foot Shopping Center Near Charlotte

by Hayden Spiess

Gastonia, N.C. — Anchor Investments LLC has purchased Dixie Village Shopping Center, a 208,000-square-foot retail center in Gastonia, approximately 22 miles west of Charlotte. Big Lots and WOW Grocery anchor the property, which is located at 2587 West Franklin Blvd.

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Hawthorne-Plaza-Overland-Park-Mo
Investment salesKansasNews

LANE4 Acquires 135,000-Square-Foot Retail Center in Metro Kansas City

by Hayden Spiess

Overland Park, Kan. — LANE4 Property Group has purchased Hawthorne Plaza, a retail center comprising 135,000 square feet at the southwest corner of 119th St. and Roe Ave. in Overland Park, approximately 10 miles south of Kansas City. CBRE represented the seller, Invesco, in the transaction. Developed in 1990 and renovated in 2015, the property was 96 percent occupied at the time of sale by tenants including The Container Store, Jos A. Bank and The Mixx. Tom O’Leary and Weston Buckley of LANE4 will handle leasing of the property. LANE4 …

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Investment salesNewsTexas

NewQuest Properties Arranges Sale of 130,525-Square-Foot Tradewinds Shopping Center in Metro Houston

by Hayden Spiess

Texas City, Texas — NewQuest Properties has arranged the sale of the 130,525-square-foot Tradewinds Shopping Center, located southeast of Houston in Texas City. At the time of sale, the property, which sits on 11.5 acres, was roughly 40 percent leased to tenants including DD’s Discount, Family Dollar, Texas First Bank and Little Caesars. David Luther of NewQuest represented the seller, a limited partnership, in the transaction. Dakota Workman, also with NewQuest, represented the buyer, an entity doing business as 2020 Harwin 59 Shopping Center Ltd.

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West-Valley-City-Utah-Retail-Center
Investment salesNewsUtah

Red Mountain Group Sells 6,764-Square-Foot Retail Center in Metro Salt Lake City

by Hayden Spiess

West Valley City, Utah — Red Mountain Group Inc. has sold a 6,764-square-foot retail center located in West Valley City, roughly 10 miles southwest of Salt Lake City. An undisclosed buyer purchased the property for $2.1 million. Tenants at the center, which was 100 percent occupied at the time of sale, include Tellica Imaging, Allstate Insurance, Metro by T-Mobile and a nail salon. Dave Lucas of CP Partners Commercial Real Estate represented Red Mountain Group in the transaction.

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Market-Square-Fort-Myers-Fla
FloridaInvestment salesNews

Marcus & Millichap Arranges Sale of 65,688-Square-Foot Shopping Center in Fort Myers, Florida

by Hayden Spiess

Fort Myers, Fla. — Marcus & Millichap has arranged the $13.2 million sale of Market Square, a 65,688-square-foot shopping center in Fort Myers. Jim Shiebler, James Medefind and James Garner of Marcus & Millichap represented the undisclosed seller and procured the buyer, a New Jersey-based private investor. Situated on 14.9 acres, the center is 1.5 miles from Florida Southwestern State College. Tenants at the property, which was built between 2004 and 2006, include Michaels, World Market, Petco, Dollar Tree and Barnes & Noble.

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CaliforniaInvestment salesNet leaseNews

Bridgepoint Group Investments, Steerpoint Capital Acquire North Los Angeles Shopping Center for $60 Million

by Hayden Spiess

Palmdale, Calif. — Bridge Group Investments and Steerpoint Capital have purchased Antelope Valley Mall in the North Los Angeles community of Palmdale for $60 million. The property, which comprises 1 million square feet, is anchored by Dillard’s, Macy’s and JCPenney. Other tenants include Dick’s Sporting Goods, Old Navy, Oishi Japanese Sushi Bar and Grill and Blaze Pizza. The center also features a 16-screen Cinemark theater.  The firms — which previously acquired The Shops at Montebello in Montebello, California — plan to add new amenities, as well as dining and entertainment …

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