Edinburg, Texas — Marcus & Millichap has brokered the sale of Concord Plaza, a 44,850-square-foot retail center located in the Rio Grande Valley city of Edinburg. The property was built in 2018 and was 99 percent leased at the time of sale. Coleman Solomon, Joseph Blanga and Wes Peacock of Marcus & Millichap represented the seller, an unnamed developer, and procured the buyer, a private investor, in the transaction.
Saugus, Mass. — Atlantic Capital Partners has arranged the sale of a retail building, formerly occupied by Sears, located within Square One Mall in Saugus, a northern suburb of Boston. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
Orange Park, Fla. — Matthews Real Estate Investment Services has brokered the sale of Blanding Square, a 40,376-square-foot retail center located at 110 Blanding Blvd. in Orange Park. The value-add property was stabilized at the time of sale with tenants paying below-market rents, according to Matthews. Johnny Blue Craig and Tripp Brown of Matthews represented the undisclosed seller, a private investor, in the transaction. The unnamed, South Florida-based buyer has the option to expand the shopping center by adding an outparcel at the corner of Blanding Boulevard and Jefferson Avenue. …
Colorado Springs, Colo. — Blue West Capital has brokered the sale of a single-tenant, net-leased retail building located at 1358 Republic Drive in Colorado Springs. A private REIT sold the property to a Florida-based investor for $4.4 million. Firestone Complete Auto Care occupies the 6,116-square-foot building, which was constructed in 2021, on a long-term, absolute triple-net lease that includes rental increases every five years. Brandon Gayeski and Zach Wright of Blue West Capital represented the seller in the transaction.
SRS Brokers $17.3 Million Sale of Three Retail Outparcels at French Valley Marketplace in California
French Valley, Calif. — SRS Real Estate Partners has arranged the portfolio sale of three retail properties that are outparcels to French Valley Marketplace, located at 35958 Winchester Road in French Valley. A Southern California-based private developer sold the assets to a Southern California-based private investor for $17.3 million in an all-cash transaction. The three properties are: A 16,000-square-foot Grocery Outlet-occupied property that opened in late 2021. An 11,115-square-foot new construction property, which Rite Aid will occupy in late 2022. A 5,559-square-foot building currently under construction that Chipotle Mexican Grill …
Roseville, Minn. — CBRE has negotiated the sale of Har Mar Mall in Roseville, a suburb just north of the Twin Cities. Located at 2100 Snelling Ave., the retail power center spans 446,308 square feet and is home to tenants such as Cub Foods, Burlington, Barnes & Noble, Marshalls, HomeGoods, Michaels and K&G Fashion Superstore. CBRE represented the seller, Clarion Partners. Fidelis was the buyer.
Woodbridge, Va. — ShopOne Centers REIT Inc., in a joint venture with Pantheon, has acquired Lake Ridge Commons, a 74,367-square-foot shopping center located in Woodbridge, roughly 20 miles south of Washington, D.C.. Anchored by a 52,706-square-foot Giant Food, the center is also home to tenants including Banfield Pet Hospital and YogaSix.
Cary, N.C. — David Garfinkel of Northmarq’s St. Louis office has arranged $21 million in financing for the acquisition of Bradford Square, a 78,628-square-foot retail center located in the Raleigh suburb of Cary. Financing was secured in the form of a permanent-fixed loan from a life insurance company on behalf of National Real Estate Management (NRE). Anchored by Publix, the center was fully leased at the time of its sale to NRE, with tenants including Cary Salon, Night and Day Dental, First Watch, Brixx Wood Fired Pizza, Burger 21 and …
Tigard, Ore. — Norris & Stevens has brokered the sale of Barrows Plaza, a retail center located at 14200 and 14250 SW Barrows Road in Tigard, a suburb of Portland. OPI Aloha LLC & RYL Court LLC acquired the asset for $4.7 million. Constructed in 1998, the 7,999-square-foot shopping center is situated on 1.1 acres. The one-story property has a history of long-term tenancy, with over 50 percent of the space occupied by the same tenants since 1998 and 1999. Todd VanDomelen of Portland-based Norris & Stevens represented the buyer, …
Covina, Calif. — SBH Real Estate Group has completed the disposition of a triple-net-leased restaurant asset located at 1477 N. Azusa Ave. in Covina. HB Property Management acquired the asset for $4.6 million. Pollo Campero, a fast-casual restaurant chain, signed a 15-year ground lease to occupy the restaurant property, which is slated to open for business at the end of September. Matt Schwartz of Newmark represented Eric Silverman of SBH Real Estate Group, while Moon Lim of JLL represented the buyer in the deal.