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Investment sales

Casas-Adobes-Plaza-Tucson-AZ
ArizonaGrocery-anchoredInvestment salesNews

First Washington Realty Sells Casas Adobes Plaza Shopping Center in Tucson, Arizona for $51 Million

by Hayden Spiess

Tucson, Ariz. — First Washington Realty has sold Casas Adobes Plaza, a shopping center located in Tucson, for $51 million. Originally built in 1953 and remodeled in 2014, the property totals 92,300 square feet situated on 9.5 acres. Tenants at the property, which was 97 percent occupied at the time of sale, include Whole Foods Market, Starbucks Coffee, Pure Barre, Orangetheory Fitness and Chico’s. Patrick Dempsey and Geoff Tranchina of JLL Capital Markets arranged the transaction. Greg Brown and Jason Carlos of JLL secured acquisition financing through a correspondent life insurance …

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Promenade-Shops-Orchard-Valley_Manteca-Calif
CaliforniaInvestment salesNews

Grupe Huber Acquires of 400,000-Square-Foot Retail Center in Manteca, California

by Hayden Spiess

Manteca, Calif. — Grupe Huber has acquired The Promenade Shops at Orchard Valley, a 400,000-square-foot retail center located in Manteca. Bass Pro Shop, AMC Theatres, JC Penney and Valley Fitness anchor the property, which is situated on 54 acres. Sutter Health recently signed a 17,500-square-foot lease at the center and is currently underway on construction of its space, which is scheduled to open in early 2025. The buyer plans to implement a “revitalization” process at the property, which was originally built in 2008. JLL manages and leases the center. 

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ArizonaCaliforniaFloridaGeorgiaInvestment salesKentuckyLouisianaNevadaNewsNorth CarolinaPennsylvaniaRestaurantsSouth CarolinaTennessee

FCPT Purchases 20 Bloomin’ Brands Restaurant Properties for $66.4 Million 

by Hayden Spiess

Mill Valley, Calif. — Four Corners Property Trust (FCPT) has purchased 20 restaurant properties occupied by Bloomin’ Brands concepts for $66.4 million dollars. Located in Arizona, Florida, Georgia, Kentucky, Louisiana, North Carolina, Nevada, Pennsylvania, South Carolina and Tennessee, the portfolio includes 10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, with one dual-tenant property occupied by both concepts. The properties are leased to corporate Bloomin’ Brands entities on two master leases. This transaction makes Bloomin’ Brands the third largest tenant for FCPT, accounting for 3.3 percent of cash rent for …

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LA-Fitness_Collierville-Tenn
Investment salesLeasingNewsTennessee

RealSource Group Arranges Sale-Leaseback of 34,000-Square-Foot Property in Metro Memphis

by Hayden Spiess

Collierville, Tenn. — RealSource Group has arranged the sale-leaseback of a 34,000-square-foot single-tenant retail property located in Collierville, roughly 30 miles southeast of Memphis. LA Fitness occupies the property, which was built in 2019. Ted Slaughter and Jonathan Schiffer of RealSource, in association with Scott Reid of ParaSell Inc., represented the seller, Fitness International, in the transaction. A private investor acquired the property for an undisclosed price. LA Fitness will continue to occupy the building on a 15-year net lease. 

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Retail-Center_Franklin-N.C
Investment salesNewsNorth Carolina

Marcus & Millichap Brokers $5.5 Million Sale of Retail Center in Franklin, North Carolina

by Hayden Spiess

Franklin, N.C. — Marcus & Millichap has brokered the $5.5 million sale of a retail center located in Franklin. Totaling 32,000 square feet, the property was 96 percent leased to 12 tenants at the time of sale. Retailers at the center include Dollar Tree, CATO and Sally Beauty Supply. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller in the transaction. Benjamin Yelm assisted as the firm’s broker of record in North Carolina. 

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Grocery-anchoredInvestment salesNew JerseyNews

FNRP Acquires 87,735-Square-Foot Retail Center in Waretown, New Jersey

by Hayden Spiess

Waretown, N.J. — First National Realty Partners (FNRP) has acquired Waretown Town Center, an 87,735-square-foot retail center located in Waretown. A 60,800-square-foot ShopRite anchors the property, which is situated along the Jersey Shore Line. Other tenants at the center include Meridian Health, Shore Smiles Dentistry, Saladworks and Great Clips. Colin Behr and Chris Munley of CB Richard Ellis represented the undisclosed seller in the transaction. This marks FNRP’s seventh shopping center acquisition in New Jersey. 

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Piggly-Wiggly_Howards-Grove-Wis
Investment salesNewsWisconsin

Marcus & Millichap Brokers $3.2 Million Sale of Two Piggly Wiggly Properties in Wisconsin

by Hayden Spiess

Boscobel and Howards Grove, Wis. — Marcus & Millichap has brokered the $3.2 million sale of two Piggly Wiggly-occupied retail properties located in Boscobel and Howards Grove. The buildings comprise 30,700 and 24,268 square feet, respectively. Ben Kohl and Mitchell Kiven of Marcus & Millichap represented the undisclosed seller in the transaction. 

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FloridaInvestment salesNet leaseNewsRestaurants

Baum Family Investments Purchases Three KFC Properties in Jacksonville, Florida

by Hayden Spiess

Jacksonville, Fla. — Baum Family Investments has purchased three single-tenant properties located in Jacksonville. Kentucky Fried Chicken (KFC) occupies each of the properties on a triple-net-lease basis. An undisclosed seller sold the buildings for roughly $5 million. Baum Family Investments has acquired four other properties in the state this year, with plans to purchase an additional six properties before the end of 2024. 

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Millenia-Crossing_Orlando
FloridaInvestment salesNewsNorth Carolina

CTO Realty Growth Acquires Shopping Center Portfolio in Florida, North Carolina for $137.5 Million

by Hayden Spiess

Winter Park, Fla. — CTO Realty Growth Inc. has acquired a portfolio of three shopping centers located in Florida and North Carolina. The properties, which together total 893,000 square feet, include Carolina Pavilion in Charlotte, North Carolina; Millenia Crossing in Orlando, Florida; and Lake Brandon Village in Brandon, Florida. CTO purchased the portfolio from an undisclosed seller for $137.5 million. Carolina Pavilion, which was 93 percent leased at the time of sale, comprises roughly 691,000 square feet.  Tenants at the center include AMC Theatres, Floor & Décor, Nordstrom Rack, Ross Dress for …

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Marys-Vineyard-Visalia-CA
CaliforniaInvestment salesNews

Matthews Real Estate Arranges $17.7 Million Sale of Mary’s Vineyard Shopping Center in Visalia, California

by Hayden Spiess

Visalia, Calif. — Matthews Real Estate Investment Services has arranged the sale of Mary’s Vineyard, a shopping center located in Visalia. Argonaut Investments, a privately held investment firm, acquired the asset from an undisclosed seller for $17.7 million. Developed in 1989 on 16.5 acres, the property totals 151,615 square feet and was leased to 28 tenants at the time of sale. Carter Hamilton and Matt LoPiccolo of Matthews Real Estate Investments represented the seller and buyer in the transaction. 

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