Investment sales

Portofino-Shopping-Center
ArizonaFloridaInvestment salesNewsNorth CarolinaOklahomaTexas

Partnership Acquires Multi-State Shopping Center Portfolio for $429 Million

by Abby Cox

Elmsford and New York City, N.Y. — DLC, in partnership with a fund managed by DRA Advisors, has acquired a multi-state shopping center portfolio in an off-market transaction for $429 million. Totaling 2.1 million square feet, the portfolio comprises eight shopping centers across five states. The seller was not disclosed. The properties include Central Texas Marketplace in Waco, Texas; Portofino Shopping Center in the Houston suburb of Shenandoah; Watauga Pavilion in the Dallas suburb of Watauga; Shops at Park Place in Plano, Texas; Pavilion at King’s Grant in the northeast Charlotte …

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Topanga-Gateway
CaliforniaGrocery-anchoredInvestment salesNews

Space Investment Acquires Topanga Gateway in Woodland Hills, California, for $64 Million

by Abby Cox

Woodland Hills, Calif. — Space Investment Partners has acquired Topanga Gateway, a 123,402-square-foot grocery-anchored retail center located in Woodland Hills for $64 million. Built in 1963 and renovated in 2024, the open-air center was 97 percent leased at the time of sale. Topanga Gateway is home to several tenants including Ralphs, The Container Store, Petco, Chipotle Mexican Grill, Baskin-Robbins, Noah’s NY Bagels and FedEx. Eastdil Secured represented the buyer and the seller, a private investor, in the transaction.  The purchase of Topanga Gateway follows Space Investment’s $118.5 million acquisition of Fullerton …

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the-ridge-new-hampshire
Investment salesNew HampshireNews

Torrington Buys 300,000-Square-Foot Retail Center in Rochester, New Hampshire, for $51.3 Million

by Abby Cox

Rochester, N.H. — Torrington has purchased The Ridge, a 300,000-square-foot, open-air retail center in Rochester for $51.3 million. The acquisition was financed through Rockland Trust, and Goedecke & Co. Waterstone Properties was the seller. The Ridge features approximately 30 tenants including Walmart, Market Basket, Marshalls, Hobby Lobby, Old Navy, NH Liquor & Wine Outlet, 110 Grill, Ulta Beauty and Gentle Dental, among others.

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Aldi
Investment salesMarylandNews

Marcus & Millichap Negotiates Sale of Retail Portfolio in Southern Maryland for $13.5 Million

by Abby Cox

La Plata, Md. — Marcus & Millichap has arranged the $13.5 million sale of a retail portfolio located in La Plata, approximately 30 miles southeast of Washington, D.C. The sale comprised three newly constructed retail buildings situated within the Rosewick Corner mixed-use development, including a freestanding Aldi grocery store, a 7-Eleven convenience store and fueling station, as well as a 7,000-square-foot retail strip center. Dean Zang and David Crotts of Marcus & Millichap’s Washington, D.C. office marketed the properties on behalf of the seller, Generation Properties LLC, and another local …

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The Gardens
Investment salesNew JerseyNews

JLL Arranges $27.9 Million Sale of 167,532-Square-Foot Retail Portfolio in Mt. Olive, New Jersey

by Abby Cox

Mt. Olive, N.J. — JLL Capital Markets has arranged the $27.9 million sale of a net-leased retail portfolio totaling 167,532 square feet in in the northwestern township of Mt. Olive. The deal comprises nine properties that make up the fully leased power center known as The Gardens, which includes a standalone 135,039-square-foot Lowe’s Home Improvement store and seven pad sites spanning a combined 32,493 square feet. Tenants at the property include Applebee’s Grill & Bar, LongHorn Steakhouse, Panera Bread, Wells Fargo, McDonald’s, Wendy’s, Panda Express and Chipotle Mexican Grill. Kevin …

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green-bay-plaza
Investment salesNewsWisconsin

Hanley Investment Negotiates $25.4 Million Sale of Green Bay Plaza in Wisconsin

by Abby Cox

Green Bay, Wis. — Hanley Investment Group Real Estate Advisors has negotiated the $25.4 million sale of Green Bay Plaza, a 232,796-square-foot shopping center located in Green Bay near the Lambeau Field football stadium. Anchored by T.J. Maxx, HomeGoods and Ross Dress for Less, the property was 89 percent occupied at the time of sale. Other tenants include Dollar Tree, Sierra, Five Below, Crunch Fitness, Burlington and Skechers Warehouse Outlet. Green Bay Plaza was originally built in 1960 and expanded in 2003. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley, …

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Old Lyme Marketplace
ConnecticutGrocery-anchoredInvestment salesNews

Joint Venture Acquires 102,500-Square-Foot Old Lyme Marketplace in Connecticut

by Abby Cox

Old Lyme, Conn. — A joint venture between Zelco Properties & Development, Grossman Development Group and The McDevitt Co. has acquired Old Lyme Marketplace, a 102,500-square-foot community shopping center in Old Lyme, approximately 40 miles southeast of Hartford. Big Y Supermarket anchors the property, which features a mix of additional tenants including Walgreens, Grand Wine & Spirits and The Bowerbird gift shop. With the acquisition, the joint venture plans to renovate the property with aesthetic enhancements and targeted leasing initiatives. The center was originally built in 1959 on nearly 24 acres, …

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North-Town-Centre
Investment salesNewsWisconsin

Infinite Equity Capital Sells 96,323-Square-Foot Retail Center in Northern Wisconsin

by Abby Cox

Antigo, Wis. — Infinite Equity Capital LLC has sold North Town Centre, a 96,323-square-foot retail center located in the northern Wisconsin city of Antigo, for $5.2 million. Built in 1988, the property is anchored by T.J. Maxx, Dunham’s Sports, Dollar Tree and Shoe Sensation. More than 67 percent of the occupied gross leasable area has operated at the center for more than 14 years. Rick Drogosz, Emily Gadomski, Eric Geskermann and Dan Rosenfeld of Mid-America Real Estate Corp. represented the seller. The center was fully leased at the time of …

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Whole-Foods_Kailua-Town
Company newsHawaiiInvestment salesNews

Joint Venture to Acquire Alexander & Baldwin in $2.3 Billion Deal, Take Hawaiian Company Private

by Abby Cox

Honolulu — A joint venture formed by locally based MW Group Ltd. and funds affiliated with Blackstone Real Estate and DivcoWest has entered into a definite merger agreement with Alexander & Baldwin Inc., a Honolulu-based owner-operator of shopping centers and other commercial real estate properties. The deal is valued at $2.3 billion, inclusive of outstanding debt, and would take Alexander & Baldwin private. The joint venture plans to acquire all outstanding shares of Alexander & Baldwin for $21.20 per share in an all-cash transaction. The company’s stock price closed last week …

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Jacaranda-Plaza
FloridaGrocery-anchoredInvestment salesNews

Core Investment Buys 175,084-Square-Foot Publix-Anchored Shopping Center in Metro Fort Lauderdale

by Abby Cox

Plantation, Fla. — Core Investment Management has acquired Jacaranda Plaza, a 175,084-square-foot, grocery-anchored shopping center located in the Fort Lauderdale suburb of Plantation. Danny Finkle, Jorge Portela and Evan Lahr of JLL represented the seller, a joint venture between Epic Real Estate Partners and Heitman, in the transaction. Chris Drew, Brian Gaswirth and Luke Maganas, also of JLL, arranged acquisition financing for the purchase through U.S. Bank on behalf of the new ownership. Jacaranda Plaza is currently 97.9 percent leased to tenants including Publix, Ross Dress for Less, Five Below, …

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