Investment sales

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ColoradoFloridaGrocery-anchoredIndianaInvestment salesNews

IPA Secures $62.4 Million Acquisition Financing for Six-Property Grocery-Anchored Retail Portfolio

by Katie Sloan

Florida, Colorado and Indiana — Institutional Property Advisors (IPA) has secured $62.4 million in acquisition financing for a six-property portfolio of grocery-anchored retail centers in Florida, Colorado and Indiana. Sunny Sajnani and Todd McNeill of IPA worked on behalf of the borrower, Essential Growth Properties, to place the five-year, fixed-rate, non-resource financing through three separate lenders. The portfolio includes Gainesville Shopping Center in Gainesville, Florida; Cheyenne Meadows Shopping Center in Colorado Springs, Colorado; Woodlands Crossing in Elkhart, Indiana; Plymouth Plaza in Plymouth, Indiana; Crawfordsville Square in Crawfordsville, Indiana; and Auburn Plaza, …

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Mid-America-Arkansas
ArkansasInvestment salesNews

Mid-America Arranges Sale of 282,608-Square-Foot Shopping Center in Russellville, Arkansas

by Katie Sloan

Russellville, Ark. — Mid-America Real Estate Corp. has arranged the sale of Valley Park Centre, a 282,608-square-foot shopping center located in the Arkansas River Valley community of Russellville. The property was 95 percent occupied at the time of sale by tenants including TJ Maxx, Ross Dress for Less, Belk, JC Penney, Shoe Carnival, Hibbett, Hobby Lobby, PetSmart and Five Below. Ben Wineman of Mid-America and Hank Kelley of Kelley Commercial Real Estate Partners represented the sellers, an affiliate of RCG Ventures and an undisclosed New York City-based joint venture partner, …

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acadiana-square_lafayette
Investment salesLouisianaNews

JLL Brokers Sale of Acadiana Square Shopping Center in Lafayette, Louisiana

by Katie Sloan

Lafayette, La. — JLL has brokered the sale of Acadiana Square, a 244,768-square-foot shopping center located at 5700 Johnston St. in Lafayette. Jim Hamilton, Ryan West and Brad Buchanan of JLL represented the sellers, DRA Advisors and RCG Ventures, in the transaction. Property Commerce Dividend Fund acquired the center for an undisclosed price. Acadiana Square was 95 percent leased at the time of sale to tenants such as Burlington, Home Furniture Co. of Lafayette, T.J. Maxx, PetSmart, Office Depot and Party City. The previous ownership executed new leases or renewals totaling …

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5200-E-Main-St-Farmington-NM
Investment salesNew MexicoNews

Newmark Negotiates Sale of Ashley HomeStore-Occupied Retail Building in Farmington, New Mexico

by Katie Sloan

Farmington, N.M. — Newmark has brokered the sale of a single-tenant retail building located at 5200 E. Main St. in Farmington. Johnston Real Estate Farmington sold the asset to an undisclosed public REIT for $6.5 million. Matt Berres, Samer Khalil and Karick Brown of Newmark’s Net Lease Capital Markets group, along with John Ransom of Colliers, represented the seller in the deal. Ashley HomeStore occupies the property on a long-term, passive double net-lease basis. The retail furniture store has more than 2,000 locations in 60 countries. 

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AlabamaInvestment salesNews

JLL Arranges $12.9 Million Sale of Riverchase Crossings Shopping Center Near Birmingham

by Katie Sloan

Hoover, Ala. — JLL Capital Markets has arranged the $12.9 million sale of Riverchase Crossings, an 89,576-square-foot retail center located roughly 10 miles south of Birmingham in Hoover. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL and Emris Graham of EHG Properties represented the seller, Riverchase Crossings LLC, and procured the buyer, Livingston Properties, in the transaction. Built in 1977 and renovated in 2004, the property was fully occupied at the time of sale by tenants including Bed Bath & Beyond, Michaels, Office Depot and Chipotle Mexican Grill. 

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9420-Scranton-Rd-San-Diego-CA
CaliforniaInvestment salesNet leaseNews

SRS Real Estate Partners Brokers $8.1 Million Sale of Planet Fitness-Occupied Retail Property in San Diego

by Katie Sloan

San Diego — SRS Real Estate Partners has arranged the sale of single-tenant retail building located at 9420 Scranton Road in San Diego. A Southern California-based retail property owner and operator sold the property to a Southern California-based family partnership for $8.1 million in an all-cash transaction. Planet Fitness occupies the 17,000-square-foot building, which was built in 1986 and renovated in 2020. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease group represented the seller and buyer in the deal. 

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1770-S-Harbor-Blvd-Anaheim-CA
CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNews

Faris Lee Investments Negotiates $19.5 Million Acquisition of Anaheim Resort Centre Near Disneyland

by Katie Sloan

Anaheim, Calif. — Faris Lee Investments has negotiated the sale of Anaheim Resort Centre, a retail property located within the Disneyland Resort District in Anaheim. An Irvine, California-based family office acquired the center from an undisclosed seller for $19.5 million. Located on the corner of Harbor Boulevard and Katella Avenue, Anaheim Resort Centre features 10,000 square feet of retail space that nine tenants fully occupy on a triple-net lease basis. Nick Miller and Shaun Riley of Faris Lee Investments represented the buyer in the transaction.

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ConnecticutInvestment salesNews

O,R&L Commercial Arranges $18.9 Million Sale of Retail Center in Branford, Connecticut

by Katie Sloan

Branford, Conn. — O,R&L Commercial has arranged the $18.9 million sale of Shoreline Plaza, a 77,037-square-foot retail center in the southern coastal Connecticut city of Branford. Tenants include Coastal Wine & Spirits, Staples, Shoreline Prime Meats & Deli and InShape Fitness. Frank Hird of O,R&L Commercial represented the seller, A&A Properties, in the transaction, and procured the buyer, an entity doing business as Executive Two Hundred LLC.

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ivy-walk
GeorgiaInvestment salesNews

South Coast Commercial Acquires Ivy Walk in Suburban Atlanta for $18.5 Million

by Katie Sloan

Smyrna, Ga. — South Coast Commercial has acquired Ivy Walk, a 42,499-square-foot neighborhood retail center located in the Atlanta suburb of Smyrna, for $18.5 million. Built in 2004, the property was 91 percent occupied at the time of sale by tenants including Muss & Turner’s, South City Kitchen, First Watch, Natural Body Spa and Children’s Healthcare of Atlanta. The center is located at the intersection of Atlanta Road and Cumberland Parkway, roughly 16 miles northwest of Atlanta. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL Capital Markets represented the …

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Lynnwood-Crossroads-Lynnwood-WA
Investment salesNewsWashington

Sterling Realty Sells Lynnwood Crossroads Shopping Center Located Outside Seattle for $45 Million

by Katie Sloan

Lynnwood, Wash. — Sterling Realty Organization has sold Lynnwood Crossroads, a grocery-anchored shopping center located roughly 16 miles north of Seattle in Lynnwood, for $45 million. Pete Bethea, Glenn Rudy and Rob Ippolito of Newmark represented the buyer, Sakioka Farms, in the all-cash 1031 exchange transaction. Billy Sleeth and Paul Sleeth, also of Newmark, represented the seller. The 103,141-square-foot property was fully occupied at the time of sale by tenants including Sprouts Farmers Market, LA Fitness, Starbucks Coffee, Jersey Mike’s Subs, Five Guys, The Joint Chiropractic, Great Clips and Qdoba.

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