Investment sales

Oakhill-Village_Orlando
FloridaInvestment salesNews

Plaza Advisors Arranges Sale of 103,427-Square-Foot Shopping Center in Orlando

by Katie Sloan

Orlando, Fla. — Plaza Advisors has arranged the sale of Oakhill Village, a 103,427-square-foot shopping center located at the intersection of Hiawassee and Old Winter Garden roads in Orlando. An offshore investor doing business as Escape 22 Oakhill LLC purchased the center from an entity doing business as Oakhill Village Associates Ltd. for an undisclosed price. Built in 1989, Oakhill Village is situated on 11.4 acres about 10 miles northwest of Orlando International Airport. The property was 99 percent leased at the time of sale to tenants such as anchor …

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PEBB
Investment salesKansasNews

PEBB Enterprises, Contrarian Capital Sell Shopping Center in Suburban Kansas City for $16.8 Million

by Katie Sloan

Overland Park, Kan. — PEBB Enterprises and Contrarian Capital Management have sold the Pinnacle Village shopping center in the Kansas City suburb of Overland Park for $16.8 million. Cherry Hill Properties was the buyer. PEBB and Contrarian purchased Pinnacle Village in May 2018 and enhanced the 108,729-square-foot center through leasing activity and property improvements. DSW and Michaels are anchor tenants at the property, which was 90 percent leased at the time of sale. Additional tenants include Firehouse Subs, Goldfish Swim School and First Watch. Evan Halkias and Jeffrey Benz of …

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Valley-Crossing
Investment salesNewsNorth Carolina

JLL Brokers $20.7 Million Sale of Valley Crossing Shopping Center in Hickory, North Carolina

by Katie Sloan

Hickory, N.C. — JLL Capital Markets has brokered the $20.7 million sale of Valley Crossing, a 191,431-square-foot shopping center located in Hickory. The property was 98.2 percent leased at the time of sale to tenants including Academy Sports + Outdoors, Ollie’s Bargain Outlet, JOANN Fabrics and Craft, Harbor Freight Tools, Dollar Tree and American Freight Furniture. Valley Crossing was developed in 1988 and is located at 2154 US Highway 70 SE. Tom Kolarczyk and Brad Peterson of JLL represented the seller, an undisclosed public REIT, in the disposition of the …

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5899_Northwest_Highway-Crystal_Lake_IL
IllinoisInvestment salesNews

Greenstone Partners Arranges $3 Million Sale of Retail Center in Suburban Chicago

by Katie Sloan

Crystal Lake, Ill. — Greenstone Partners has arranged the $3 million sale of a nearly 12,000-square-foot retail property in the Chicago suburb of Crystal Lake. The building, located at 5899 Northwest Highway, is 77 percent occupied with two vacant units. Jason St. John and AJ Patel of Greenstone represented the seller, a local, private partnership. The duo also procured the buyer, a private partnership completing a 1031 exchange.

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Heritage-Park
CaliforniaGrocery-anchoredInvestment salesNews

First National Realty Acquires Heritage Park Shopping Center in San Francisco Bay Area

by Katie Sloan

Suisun City, Calif. — First National Realty Partners has acquired Heritage Park, a 167,000-square-foot shopping center located roughly 50 miles northeast of San Francisco in Suisun City. A 60,000-square-foot Raley’s anchor the center, which was home to tenants including Ace Hardware, AutoZone, Dollar Tree, Dunkin Donuts, Mariner Finance and H&R Block at the time of sale. The seller and terms of the transaction were undisclosed. 

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Parkwood-Shops
GeorgiaInvestment salesNews

Franklin Street Arranges $8.4 Million Sale of CVS-Anchored Retail Center in Atlanta

by Katie Sloan

Atlanta — Franklin Street has arranged the $8.4 million sale of Parkwood Shops, a 20,397-square-foot retail strip center located in Atlanta. The property is situated on 2.1 acres at 2014 SE Powers Ferry Road in Atlanta’s Cumberland neighborhood. CVS/pharmacy anchors the center, which was fully leased at the time of sale to tenants including Boston Market, Jersey Mike’s, Planet Smoothie, Piu Bello Pizzeria, Hikaru Ramen and Personal Touch Cleaners. Bryan Belk and John Tennant of Franklin Street represented the seller, Ronus Properties, in the disposition of the property to SITE …

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Upland-Square
Investment salesNewsPennsylvania

IPA Brokers $85.7 Million Sale of Grocery-Anchored Power Center in Metro Philadelphia

by Katie Sloan

Pottstown, Pa. — Institutional Property Advisors (IPA), a division of Marcus & Milllichap, has brokered the $85.7 million sale of Upland Square, a 400,716-square-foot power center located roughly 40 miles northwest of Philadelphia in Pottstown. A 76,500-square-foot Giant Food anchors the center, which was leased to tenants such as Burlington, LA Fitness, Five Below, Ross Dress for Less, Bed Bath & Beyond, Staples, TJ Maxx, Petco and Ulta Beauty at the time of sale. An AMC Theatre and the freestanding retail pads located on the site were not included in the …

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Investment salesNewsPennsylvania

Syndicated Equities Sells Pittsburgh Shopping Center for $32.5 Million

by Katie Sloan

Pittsburgh — Syndicated Equities has sold Plaza at the Pointe, a 149,973-square-foot shopping center in Pittsburgh. At the time of sale, the property was leased to tenants such as Bed Bath & Beyond, La-Z-Boy, Party City, Old Navy, Dress Barn and Bob’s Discount Furniture. The buyer was not disclosed. Syndicated Equities originally acquired the property in partnership with Chicago-based owner-operator M & J  Wilkow in 2016 for $24.5 million.

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3501-McHenry-Ave-Modesto-CA
CaliforniaContent PartnersFaris Lee InvestmentsInvestment salesNews

Faris Lee Negotiates $25 Million Acquisition of Promenade Shopping Center in Modesto, California

by Katie Sloan

Modesto, Calif. — Faris Lee Investments has negotiated the $25 million purchase of The Promenade Shopping Center, a 118,485-square-foot retail center in Modesto. Located at 3501 McHenry Ave., the property was fully occupied at the time of sale by tenants including Ross Dress for Less, Barnes & Noble, AutoZone, Skechers, Hallmark, Cold Stone Creamery and Subway. Alexander Moore, Sean Cox and Don MacLellan of Faris Lee represented the buyer, a Modesto, California-based private family office, in the acquisition of the property from an ownership group managed by West Valley Properties. 

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CarMax-Auto-Superstore
IndianaInvestment salesNews

Osborne Group Brokers $29 Million Sale of CarMax-Occupied Retail Property in Suburban Indianapolis

by Katie Sloan

Carmel, Ind. — Gallelli Real Estate’s The Osborne Group has brokered the $29 million sale of a retail property occupied by CarMax Auto Superstore in the Indianapolis suburb of Carmel. The two-building property spans 55,536 square feet and features a main showroom, customer receiving bay, service shop and auto cleaning area. Robb Osborne and Kannon Kuhn of Osborne Group, along with Alex Davenport of Colliers, marketed the property on behalf of the seller, an entity doing business as MAX 22 LLC. Osborne’s team procured the buyer, Realty Income Corp.

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