San Bernardino, Calif. — Progressive Real Estate Partners has brokered the $4.9 million sale of a retail building located at 675 East Hospitality Lane in San Bernardino. Built in 1991 and totaling 20,020 square feet, the property is leased to Office Depot. The sale also included 81 parking spaces. Greg Bedell, Paul Galmarini and Paul Su of Progressive represented the seller, a private investor, in the transaction. Jason Alter of IPA Commercial Real Estate represented the buyer.
St. Johns, Fla. — Hanley Investment Group Real Estate Advisors has arranged the $5.9 million sale of a single-tenant retail property located in St. Johns, roughly 30 miles southeast of Jacksonville. Built in 2021, the 10,395-square-foot building is net leased to childcare provider O2B Kids! Jeff Lefko, Bill Asher and Dylan Mallory of Hanley Investment Group, in association with ParaSell Inc., represented the seller, a private investor based in Port Orange, Florida. Raem Capital Advisors represented the buyer, a private investor from the New York City metropolitan area, in the …
White Plains, N.Y. — CBRE has brokered the $112 million sale of The Source, a mixed-use development located in White Plains. Whole Foods Market anchors the property, which comprises 262,000 square feet and was 99 percent leased at the time of sale. Other tenants include Dick’s Sporting Goods, Raymour & Flanigan and The Cheesecake Factory. Jeffrey Dunne, David Gavin, Steve Bardsley and Travis Langer of CBRE represented the seller, which the Wall Street Journal reports was UBS Realty Investors LLC, and procured the buyer in the transaction.
Bell, Calif. — NAI Capital Commercial has arranged the purchase of Atlantic Center Mini Mall, a 20,909-square-foot retail center located in Bell, roughly 10 miles outside Los Angeles. Steven Weiss and Sam Kangavari of NAI represented the buyer, a private investor, in the transaction. The buyer plans to redevelop the property, converting it to a single-tenant retail building, and the NAI team also negotiated a new lease with a national tenant.
Stephenville, Texas — Partners Real Estate has negotiated the sale of a 10,200-square-foot retail property in Stephenville, about 70 miles southwest of Fort Worth. The property was fully leased to Family Dollar at the time of sale. Landan Dory of Partners represented the buyer, private investor Perry Lewis, in the transaction. Craig Fuller of Marcus & Millichap represented the undisclosed seller.
Lake Forest, Calif. — La Caze Development has sold Lake Forest Marketplace, a 111,212-square-foot shopping center located in Lake Forest, for $14.2 million. John Redfield of SRS Real Estate Partners’ Investment Property Group arranged the transaction on behalf of the seller. Jon Davis of SVN represented the buyer, a private investor. Situated on 10 acres, the property was fully occupied at the time of sale. Tenants include 99 Cents Only, Guitar Center, Island Pacific, Harbor Freight Tools, Bank of America, Del Taco and Dunkin’ Donuts.
Somerset, N.J. — Marcus & Millichap has brokered the $7 million sale of a gas station and convenience store property occupied by QuickChek in the Northern New Jersey community of Somerset. Matthew Klang and Michael Tuccillo of Marcus & Millichap represented the undisclosed seller and developer in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
Fort Worth, Texas — SRS Real Estate Partners has arranged the $6.1 million sale of a 13,426-square-foot, single-tenant retail building in Fort Worth that is net leased to CVS/pharmacy. The property was built on 2.3 acres in 2020. Matt McNeill of SRS represented the buyer, a California-based private investor, in the transaction. Thomas Co. represented the undisclosed seller.
San Diego — EarthWise Pet has acquired Loyal Biscuit, a pet supply retailer offering healthy food for dogs and cats. The company has six stores operating in Bath, Belfast, Brewer, Rockport, Rockland and Waterville, Maine. A decision has not yet been made on whether the locations will be rebranded with the EarthWise name. San Diego-based EarthWise has over 150 locations open across the U.S.
Lawrenceville, Ga. — ShopOne Centers REIT Inc., with joint venture partners Pantheon and an institutional investor, has acquired Bethesda Walk, a 68,271-square-foot shopping center located in Lawrenceville, roughly 30 miles northeast of Atlanta. Walmart Neighborhood Market anchors the property, which was 98 percent occupied at the time of sale. Other tenants at the center include Subway, Wingstop and Metro by T-Mobile.
