Investment sales

39178-10th-St-W-Palmdale-CA
CaliforniaInvestment salesNews

SRS Brokers $5.4 Million Sale of Multi-Tenant Retail Property in Palmdale, California

by Hayden Spiess

Palmdale, Calif. — SRS Real Estate Partners has arranged the $5.4 million sale of a retail property located in Palmdale. A private investor acquired the 11,788-square-foot property, which was fully to six tenants including Jenny Craig and Verizon Wireless at the time of sale. The property comprises a portion of Palmdale Marketplace, a 450,000-square-foot retail center anchored by Target, Lowe’s Home Improvement and Sprouts Farmers Market. Matthew Mousavi and Patrick Luther of SRS’ national net lease group represented both the buyer and seller in the transaction.

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Grocery-anchoredInvestment salesNewsPennsylvania

JLL Brokers Sale of 124,262-Square-Foot Shopping Center in Metro Philadelphia

by Hayden Spiess

New Britain, Pa. — JLL has brokered the sale of Town Center of New Britain, a 124,262-square-foot shopping center located in the Philadelphia suburb of New Britain. Giant Food anchors the center, which was built in 1990 and renovated in 2002. Tenants at the property, which was 91 percent leased at the time of sale, include Rite Aid, Dollar Tree, Verizon Wireless and AutoZone. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Milbrook Properties acquired the property for an …

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Chipotle-Sushi-Roku-Roseville-Calif
CaliforniaInvestment salesNewsRestaurants

Hanley Arranges $4 Million Sale of Two-Tenant Retail Pad in Metro Sacramento

by Hayden Spiess

Roseville, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4 million sale of a two-tenant retail pad located in Roseville, roughly 20 miles northeast of Sacramento. Chipotle Mexican Grill and Sushi Roku occupy the 4,808-square-foot property, which is situated within Freedom Point Plaza shopping center. Jeff Lefko and Bill Asher of Hanley represented the seller, Covenant Real Estate Group, in the transaction. Scott Pesch of CB Commercial Pacific Partners represented the buyer, a private investor.

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Groton-Square-Connecticut
ConnecticutGrocery-anchoredInvestment salesNews

IPA Arranges Sale of 196,802-Square-Foot Shopping Center in Groton, Connecticut

by Hayden Spiess

Groton, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Groton Square, a 196,802-square-foot shopping center in southeastern Connecticut. Stop & Shop and Kohl’s anchor the center, which sits on 18 acres and was built in phases between 1983 and 1989. Other tenants include Panera Bread, Xfinity, PhysicianOne Urgent Care, CosmoProf, Verizon and Moe’s Southwest Grill. Jim Koury of IPA represented the buyer and seller in the transaction.

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Cliff-Lake-Centre
Investment salesMinnesotaNews

Mid-America Arranges Sale of 74,182-Square-Foot Shopping Center in Metro Minneapolis

by Hayden Spiess

Eagan, Minn. — Mid-America Real Estate Corp. has arranged the sale of Cliff Lake Centre, a 74,182-square-foot property located in the Minneapolis suburb of Eagan. Tenants at the shopping center include Dollar Tree, Davanni’s, Great Clips, The UPS Store, Snap Fitness and H&R Block. Target and Cub Foods shadow anchor the property. Joe Girardi and Amy Senn of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. MVK Capital and True North Investments acquired the property, which was managed by Pine Tree.

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Farmers-Corner-San-Jacinto-CA
CaliforniaInvestment salesMixed-useNews

Progressive Real Estate Partners Brokers $3 Million Sale of Mixed-Use Property in Southern California

by Hayden Spiess

San Jacinto, Calif. — Progressive Real Estate Partners has brokered the $3 million sale of Farmer’s Corner, a 77,000-square-foot mixed-use property located in San Jacinto. Built in 1980, Farmer’s Corner was 60 percent occupied at the time of sale. Tenants include a breakfast eatery, jeweler, barber, party supply company and professional offices. Greg Bedell and Mike Lin of Progressive Real Estate Partners represented the buyer and seller, both private investors, in the transaction. The buyer plans to upgrade the property, including replacing the roof.

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Dollar-General-Fort-Collins-Colo
ColoradoInvestment salesNews

Joint Venture Purchases 9,100-Square-Foot Single-Tenant Property in Colorado

by Hayden Spiess

Fort Collins, Colo. — A joint venture of entities doing business as Stover LLC, Cheyenne I LLC, Cheyenne II LLC and Meldrum LLC has purchased a 9,100-square-foot retail building located in Fort Collins. Built in 2021, the property is fully leased to Dollar General. Jared Goodman and Anne Spry of Cushman & Wakefield represented the buyer in the transaction. John R. Wertz of Wertz Real Estate & Investment Services represented the seller, an entity doing business as Wellington CO DG LLC.

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Sawgrass-Design-Center-Sunrise-Fla
FloridaInvestment salesNews

Azor Brokers $13.9 Million Sale of Retail Center in Metro Miami

by Hayden Spiess

Sunrise, Fla. —Azor Advisory Services has brokered the $13.9 million sale of The Sawgrass Home Design Center, a retail center located in Sunrise, approximately 30 miles northwest of Miami. The 45,000-square-foot property was 83 percent leased at the time of sale to tenants including DXL Casual Male, Bella Salon Suites, Lighting Outlet, Compass Research and Caremax. Beth Azor of Azor represented the seller, a partnership doing business as FVP Sawgrass LLC, which originally acquired the property in 2011. Apogee Realty Inc. and Capital Group Realty 2004 LLC represented the buyer, …

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Lockwood-Village-Oviedo-Fla
FloridaGrocery-anchoredInvestment salesNews

Legacy Arranges $6.5 Million Sale of Shopping Center in Metro Orlando

by Hayden Spiess

Oviedo, Fla. — Legacy Realty Group Advisors has arranged the $6.5 million sale of Lockwood Village, a shopping center located in Oviedo, approximately 20 miles northeast of Orlando. Winn-Dixie anchors the 54,372-square-foot property. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction.

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Wakefield-Crossing-Raleigh-N.C
Grocery-anchoredInvestment salesNewsNorth Carolina

JLL Arranges Sale of 75,927-Square-Foot Retail Center in Raleigh, North Carolina

by Hayden Spiess

Raleigh, N.C. — JLL Capital Markets has arranged the sale of Wakefield Crossing, a 75,927-square-foot retail center located in Raleigh. Food Lion anchors the property, which was 95 percent leased at the time of sale. Other tenants at the center include Tuesday Morning, Subway, Dante’s Italiano, Wakefield Tavern and Wake Health Medical Group. Wakefield Wellons LLC acquired the property, which was built in 2001. A JLL team led by Tom Kolarczyk represented the undisclosed seller in the transaction.

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