Investment sales

Crossroads-Plaza-Peoria-Ariz
ArizonaInvestment salesNews

Colliers Brokers $14.8 Million Sale of Crossroads Plaza in Suburban Phoenix

by Hayden Spiess

Peoria, Ariz. — Colliers has brokered the $14.8 million sale of Crossroads Plaza, a 112,838-square-foot shopping center located in the Phoenix suburb of Peoria. The property was 91 percent leased at the time of sale to tenants including Harbor Freight, Dollar Tree, Goodwill, LA Crab Shack, Ta’ Carbon Mexican Grill, Odyssey Martial Arts and Iced Out Ice Cream Parlor. Mindy Korth, John Jackson, Caitlin Zirpolo and El Warner of Colliers represented the seller, a California-based firm. Maha Odeh Arnold of Regal Properties represented the buyer, a California-based private investor.

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Grocery-anchoredInvestment salesMassachusettsNewsRhode Island

Atlantic Capital Partners Negotiates $70 Million Sale of Retail Portfolio in Massachusetts, Rhode Island

by Hayden Spiess

Boston — Atlantic Capital Partners, a division of Boston-based Atlantic Realty, has negotiated the $70 million sale of a portfolio of four grocery-anchored retail properties in Massachusetts and Rhode Island. The properties, all of which are master-leased to regional operator Stop & Shop, total 272,542 square feet and are located in the Massachusetts communities of Framingham, Malden and Swampscott, with the fourth in Bristol, Rhode Island. Justin Smith, Chris Peterson and Sam Koonce of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

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Covington-Square_Lithonia
GeorgiaInvestment salesNews

Richmar Properties Sells Covington Square Shopping Center in Metro Atlanta for $13.4 Million

by Hayden Spiess

Lithonia, Ga. — Richmar Properties has sold Covington Square, a 144,585-square-foot shopping center in the east Atlanta suburb of Lithonia. Malls-Etc. purchased the property for $13.4 million. Craig Taylor of CBRE represented the seller in the transaction. Built in 1989, Covington Square was renovated in 2021 and was 85 percent leased at the time of sale to tenants including Planet Fitness, Rainbow Shops, City Gear, Beauty and More, Las Colinas Restaurant and 3D Church.

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ColoradoFinanceInvestment salesMixed-useNews

Essex Secures $32 Million Acquisition Financing for Mixed-Use Property in Denver

by Hayden Spiess

Denver — Essex Financial Group has secured $32 million in acquisition financing for the purchase of 2nd & Josephine, a 105,253-square-foot mixed-use property in Denver. Comprising four buildings, the development was fully leased at the time of sale. Bank of America anchors the property, which features retail and office space, as well as 260 parking spaces. Paul Donahue, Cooper Williams, Nate Schneider and Andrea Mehlem of Essex arranged the seven-year, fixed-rate loan through an undisclosed life insurance company on behalf of the buyer.

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Vuori-Chicago
IllinoisInvestment salesNews

Mid-America Brokers Sale of 5,443-Square-Foot Luxury Retail Building in Chicago

by Hayden Spiess

Chicago — Mid-America Real Estate Corp. has brokered the sale of 1003 N. Rush St., a luxury retail building in Chicago. The property spans 5,443 square feet and was occupied by fashion retailer Vuori at the time of sale. Joe Girardi and Emily Gadomski of Mid-America represented the seller, an institutional investor. A private family was the buyer.

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Niumalu-Marketplace
Grocery-anchoredHawaiiInvestment salesNews

Watumull Properties Corp. Purchases Niumalu Marketplace in Hawaii for $66 Million

by Hayden Spiess

Kailua, Hawaii — Watumull Properties Corp. has purchased Niumalu Marketplace, a 205,000-square-foot retail center located in Kailua on O’ahu, for $66 million. Safeway anchors the property, which is situated on 20 acres. Wendell Brooks and Kimo Greenwell of JLL will handle leasing at the center, and Big Island Colliers’ Hawaii office will provide property management services.

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CaliforniaGrocery-anchoredInvestment salesNews

Longpoint Acquires Shopping Center in Metro Los Angeles for $22.7 Million

by Hayden Spiess

Montclair, Calif. — Longpoint has acquired Cardenas Marketplace, a shopping center located in Montclair, roughly 30 miles east of Los Angeles, for $22.7 million. Built in 2020 and anchored by Cardenas Market, the property was 91 percent occupied at the time of sale. Other tenants at the center include AT&T and Wendy’s. Alan Krueger, Vanessa Haddad and Masih Waliyar of CBRE represented Longpoint in the transaction.

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Dutch-Bros-Coffee
CaliforniaInvestment salesNet leaseNews

Hanley Brokers $2.3 Million Sale of Single-Tenant Retail Property in Southern California

by Hayden Spiess

Fontana, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $2.3 million sale of a single-tenant retail property located in Fontana. Dutch Bros Coffee occupies the newly constructed 871-square-foot property, which is situated within Highland Village Shopping Center, on a triple-net-lease basis. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments, in the transaction. Jeremy McChesney of Hanley represented the buyer, a private investor.

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Investment salesNet leaseNewsWisconsin

Marcus & Millichap Brokers $1.1 Million Sale-Leaseback of Jimmy John’s-Occupied Property in Wisconsin

by Hayden Spiess

Sturgeon Bay, Wis. — Marcus & Millichap has arranged the $1.1 million sale-leaseback of a 1,650-square-foot property in Sturgeon Bay, a city in eastern Wisconsin. The single-tenant building is occupied by Jimmy John’s on a net-lease basis. Originally built in 1995, the property was reconfigured for Jimmy John’s in 2017. Damien Yoder and Madison Harman of Marcus & Millichap represented the seller, a private investor. Tom Gommels of Marcus & Millichap secured and represented the buyer, also a private investor. Todd Lindblom assisted in closing the transaction as the Wisconsin …

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First National Realty Partners LLC
Grocery-anchoredInvestment salesMarylandNews

First National Acquires 359,484-Square-Foot Shopping Center in Metro Washington, D.C.

by Hayden Spiess

Waldorf, Md. — First National Realty Partners has acquired Waldorf Marketplace, a 359,484-square-foot shopping center located in Waldorf, approximately 30 miles outside Washington, D.C. A 58,092-square-foot Safeway anchors the property, which is also home to tenants including Hobby Lobby, Jared, Petco, Starbucks Coffee, Wells Fargo, Red Robin, TGI Fridays, Bath & Body Works and Famous Dave’s. The purchase marks First National Realty Partners’ fourth retail center acquisition within the DMV-metropolitan area.

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