Miami — JLL Capital Markets has brokered the $44.9 million sale of Deerwood Town Center, located in Miami. Danny Finkle, Eric Williams and Kim Flores of JLL arranged the transaction between the seller, Courtelis Company, and buyer, Core Investment Management. Fresco y Más and The Home Depot anchor the 205,803-square-foot property, which was fully leased at the time of sale. Other tenants include Amped Fitness, Pet Supermarket and TD Bank.
Quakertown, Pa. — First National Realty Partners (FNRP) has acquired Richland Marketplace, a 162,000-square-foot shopping center in Quakertown, about 50 miles north of Philadelphia. Built in 2009, the center houses tenants such as Aldi, Best Buy, PetSmart, Planet Fitness, Staples, Ulta Beauty, Visionworks, Sally Beauty and Skechers. Colin Behr and Chris Munley of JLL represented the undisclosed seller in the transaction.
San Diego — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.1 million loan for the acquisition of The Shops at AMC Palm Promenade, a retail power center located at 756-804 Dennery Road in San Diego. Chad O’Connor of MMCC San Diego secured the financing for the undisclosed borrower. The seven-year, fixed-rate loan has a 5.125 percent interest rate, 30-year amortization and a 60 percent loan-to-value ratio. The seller was not disclosed. Renovated in 2021, the 72,390-square-foot shopping center is located at the on/off ramp of Interstate 805 and …
Plainfield, Ill. — Marcus & Millichap has brokered the $1.9 million sale of a Chili’s ground lease in Plainfield, about 40 miles southwest of Chicago. The restaurant building spans 6,150 square feet. The property at 12740 Illinois Route 59 is situated near Target, Ross Dress for Less and Five Below stores. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, an individual trust. The duo also secured and represented the buyer, a Chicagoland private investor and limited liability company.
Ocala, Fla. — BSD Capital recently purchased a former Sears department store and Sears Automotive Center in Ocala spanning 148,857 square feet. An affiliate of Seritage Growth Properties, the spun-off REIT from Sears Holding Corp., sold the buildings at a private auction for $3.2 million. Louie Granteed of Tobin Real Estate represented BSD Capital in the acquisition and is leading leasing efforts for the new owner’s redevelopment that will convert the property to a retail and entertainment destination. Granteed says that prospective tenants for the redevelopment include grocers, big-box retailers …
Chicago — Rick Drogosz and Emily Gadomski of Mid-America Real Estate have brokered the sale of Shops of Beverly, a 21,571-square-foot shopping center in the Chicago neighborhood of Beverly. Located within the subregional trade area of Evergreen Park, the center was fully leased at the time of sale. Tenants include Chipotle Mexican Grill, Chase Bank and For Eyes. A private buyer purchased the property from Sperry Equities, which was represented by Mid-America.
Bluffton, S.C. — JLL Capital Markets has brokered the sale of a 118,440-square-foot shopping center located in Bluffton, five miles from Hilton Head Island. Jim Hamilton, Brad Buchanan, Tom Kolarczyk and Andrew Kahn of JLL represented the seller, Jaz Development LLC, in the $25.2 million transaction. Anchored by Aldi, PGA TOUR Superstore and Hobby Lobby, Bluffton Shopping Center was 99 percent leased at the time of sale. Other tenants include First Watch, Tropical Smoothie Café, Sleep Number, Aspen Dental, The Spirited Hand and Boutique Nails. Serota Properties acquired the property.
Chicago — NAI Miami has arranged the sale of a former Midas Total Car Care center located at 158 W. Grand Ave. in Chicago for $4 million. Jeremy Larkin and Joseph Gallaher of NAI Miami, along with Elan Rasansky and Al Rodenbostel of ARC Real Estate Group, represented the seller, TBC Corp. The buyer, Friedman Properties Ltd., developed the adjacent Moxy Hotel. The sales price equates to roughly $470 per square foot.
Jacksonville, N.C. — Lori Schneider and David Gant of Marcus & Millichap have arranged the sale of Gateway Marketplace, a 131,780-square-foot shopping center located in Jacksonville. Anchored by Publix Supermarket, HomeGoods, Michaels and Ulta Beauty, the center is comprised of 16 suites and sold for $29 million. Prestige Properties and Development LLC was the buyer, procured by Marcus & Millichap on behalf of the seller.
Gahanna, Ohio — PEBB Enterprises has sold Hunter’s Ridge Shopping Center, an 84,724-square-foot retail center located in Gahanna, roughly nine miles northeast of Columbus. WB Ventures LLC purchased the property for $10 million. Evan Halkias and Hank Davis of Cushman & Wakefield represented the seller in the transaction. Shadow-anchored by Kroger Marketplace, the center was 93 percent leased at the time of sale. Tenants include Planet Fitness and Goodwill, which together occupy 42 percent of the center’s leasable space. Taco Bell and McDonald’s outparcels are also located at the property …
