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Investment sales

Sierra Shopping Center
CaliforniaInvestment salesNews

JLL Arranges $4.7 Million Sale of Retail Outparcel in Southern California

by Julia Sanders

Baldwin Park, Calif. — JLL Capital Markets has arranged the $4.7 million sale of a single-tenant retail pad totaling 4,068 square feet in Baldwin Park. Adam Friedlander of JLL represented the seller, Paragon Commercial Group. A private buyer acquired the property. Located at 13602 Francisquito Ave., the retail property is an outparcel to Sierra Shopping Center, which is anchored by Target and Food 4 Less. Built in 2020, the property has Raising Cane’s Restaurant LLC as a tenant under a 15-year triple-net lease.

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Granada Shoppes
FloridaInvestment salesNews

JLL Brokers $97 Million Sale of Trader Joe’s-Anchored Shopping Center in Naples, Florida

by Julia Sanders

Naples, Fla. — JLL Capital Markets has brokered the $97 million sale of Granada Shoppes, a 307,000-square-foot shopping center in Naples. Danny Finkle and Eric Williams of JLL represented the sellers, Courtelis Co. and Barron Collier Cos., in the disposition of the property to Brixmor Property Group. Anchored by Trader Joe’s, Granada Shoppes was 98 percent leased at the time of sale to tenants including Marshalls, Haverty’s Furniture, Dollar Tree, Tuesday Morning, Xfinity, First Watch, Jersey Mike’s, Sports Clips, Visionworks, Men’s Wearhouse, Petland of Naples, Hobby Lobby and P.F. Chang’s.

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Investment salesNew HampshireNews

Atlantic Capital Partners Brokers Sale of 133,924-Square-Foot Retail Center in Portsmouth, New Hampshire

by Julia Sanders

Portsmouth, N.H. — Atlantic Capital Partners has brokered the sale of Durgin Square, a 133,924-square-foot retail center in Portsmouth, located in southern New Hampshire. Originally built in 1995, Durgin Square is anchored by a 41,980-square-foot Whole Foods Market and was 96 percent leased at the time of sale. Other tenants include T.J. Maxx and HomeGoods. Justin Smith, Scott Black, Sam Koonce, Molly Lynch and Ben Starr of Atlantic Capital Partners represented the undisclosed seller and buyer in the off-market deal.

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Crowe's Crossing
GeorgiaInvestment salesNews

First National Realty Partners Acquires 93,728-Square-Foot Shopping Center in Metro Atlanta

by Julia Sanders

Stone Mountain, Ga. — First National Realty Partners has acquired Crowe’s Crossing, a 93,728-square-foot shopping center in Stone Mountain. The seller and sales price were not disclosed. Located at 1232 South Hairston Road, the property is situated approximately 12 miles east of downtown Atlanta. The shopping center was 97 percent occupied at the time of sale and anchored by a 45,528-square-foot Kroger Supermarket.

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Westbrook Plaza
GeorgiaInvestment salesNews

Bridge33 Capital Sells Retail Center in Metro Atlanta for $8.7 Million

by Julia Sanders

Gainesville, Ga. — Bridge33 Capital has sold Westbrook Plaza, a 49,364-square-foot retail center in the Atlanta suburb of Gainesville, for $8.7 million. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the seller in the disposition of the property to Collett Capital. Constructed in 2006 and anchored by Best Buy, the center was fully leased at the time of sale to tenants including Burn Boot Camp, Mattress Firm, WNB Factory, Pazzi’s Pizza, Paris Nails and Pet Pleasers Bakery.

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Planet Fitness
AlabamaInvestment salesNews

Stan Johnson Co. Arranges $3.2 Million Sale of Shopping Center in Southern Alabama

by Julia Sanders

Enterprise, Ala. — Stan Johnson Co. has arranged the sale of a 54,500-square-foot shopping center located at 913 Rucker Blvd. in Enterprise. Brett Puckett of Stan Johnson Co. represented the seller, a Mississippi-based private investor, in the transaction. The buyer, an individual investor based in New Hampshire, acquired the property for $3.2 million. Anchored by Planet Fitness, the shopping center was 78 percent occupied at the time of sale by seven additional tenants.

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IllinoisInvestment salesNews

Marcus & Millichap Arranges $4.9 Million Sale of Chipotle-Anchored Retail Center in Metro Chicago

by Julia Sanders

New Lenox, Ill. — Marcus & Millichap has arranged the $4.9 million sale of a retail strip center in New Lenox, a southwest suburb of Chicago. Chipotle Mexican Grill anchors the 9,907-square-foot property. Other tenants include MOD Pizza, Smoothie King, Classy Nails and Vino Gaming Wine Bar. Brian Parmacek of Marcus & Millichap represented the seller, a Chicago-based developer. The buyer was undisclosed.

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Rainbow Plaza
Investment salesNevadaNews

Brixton Capital Divests of Rainbow Plaza Shopping Center in Las Vegas for $63.7 Million

by Julia Sanders

Las Vegas — Brixton Capital has completed the sale of Rainbow Plaza, a 259,980-square-foot shopping center in Las Vegas. An undisclosed buyer acquired the asset for $63.7 million. Rob Ippolito of Newmark represented the seller in the deal. At the time of sale, the dual grocery-anchored center was 94 percent occupied by tenants including Albertsons, Ross Dress for Less, The Home Depot, Sprouts Farmers Market, Goodwill, EOS Fitness and Chase Bank.

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Point Hope
Investment salesNewsSouth Carolina

Stiles Sells Publix-Anchored Retail Center in Charleston for $29 Million

by Julia Sanders

Charleston, S.C. — Stiles has sold Point Hope Commons, a 75,000-square foot neighborhood shopping center in Charleston, for $29 million. Publix anchors the center, which was developed by Stiles in 2019. The property was 92 percent leased at the time of sale to tenants including Roper St. Francis Healthcare, Heartland Dental and Cainhoy Veterinary Hospital.

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Retail center
Investment salesNewsSouth Carolina

Marcus & Millichap Arranges $3.1 Million Sale of 62,799-Square-Foot Retail Property in South Carolina

by Julia Sanders

Chesnee, S.C. — Marcus & Millichap has arranged the $3.1 million sale of a 62,799-square-foot Food Lion-anchored shopping center located in Chesnee. Ani Paulson and Pearce Vogler of Marcus & Millichap represented the seller, an undisclosed private investor. The team also secured and represented the undisclosed buyer. Located at 712 S Alabama Ave. on 5.6 acres, the shopping center is occupied by tenants including O’Reilly Auto Parts.

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