Trabuco Canyon, Calif. — Faris Lee Investments has arranged the sale of a freestanding retail building located in Trabuco Canyon. ValueRock Realty acquired the property from an undisclosed seller for $4.2 million. CVS/pharmacy occupies the property on a triple-net lease basis. Rich Chichester and Don MacLellan of Faris Lee, in partnership with John Cumbelich of Cumbelich & Associates, represented the seller and buyer in transaction.
Chicago — Union Investment Real Estate has purchased 59-65 E. Oak St., a one-block stretch of retail space in Chicago. The purchase price was $120 million, according to Crain’s Chicago Business. The price represents the largest amount paid for any retail asset sold in Chicago since 2016, according to CBRE. Keely Polczynski of CBRE Capital Markets represented both the buyer and the seller, Jenel Real Estate, which acquired two separate parcels in 2016, demolished them and rebuilt a 32,000-square-foot building that now houses high-end retailers Chanel, Van Cleef & Arpels, …
Frisco, Texas — JLL has negotiated the sale of Westside Market, a 93,377-square-foot shopping center located in the northern Dallas suburb of Frisco. Built in 2017 and anchored by a Tom Thumb grocery store with a fueling station, the property was fully leased at the time of sale. Other tenants include Subway, Great Clips, Pure Barre, Today’s Vision, Aqua-Tots Swim School and Ideal Smile & Orthodontics. Chris Gerard and Ryan Shore of JLL represented the undisclosed seller in the transaction. Tabani Group purchased the asset for an undisclosed price.
McDonough, Ga. — Halpern Enterprises Inc. has acquired McDonough West, an 80,773-square-foot shopping center in McDonough, roughly 30 miles southeast of Atlanta. Harbour Retail Partners sold the property for an undisclosed price. Built in 2000, McDonough West was 92 percent leased at the time of sale and anchored by a 30,000-square-foot Goodwill Store and Donation Center. Additional tenants include Planet Fitness, Dollar Tree, Subway and Cato, along with a Delta Community Credit Union located on an outparcel at the front of the property.
Hoover, Ala. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Stadium Trace Village, a 33,625-square-foot retail center in Hoover. MAP Development sold the property for $13.9 million to Liberty Retail Properties. Boris Shilkrot, Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller. The buyer was self-represented in the transaction. Built in 2019, Stadium Trace Village is shadow-anchored by Aldi, Duluth Trading Co. and UAB Medicine. The center is fully occupied by retailers such as OHenry’s Coffee, Edgar’s Bakery, Mooyah Burgers, Cookie Cutters, …
Milwaukee — Stan Johnson Co. has arranged the $2.4 million sale of a 3,500-square-foot retail property net leased to Sherwin-Williams in Milwaukee. The building is located at 1216 S. 1st St. and was constructed in 2018. Blaise Bennett of Stan Johnson represented the seller, a Wisconsin-based developer. A Texas-based private equity group was the buyer. The sales price represents a cap rate of 5.1 percent, a new record for a Sherwin-Williams property in the Midwest, according to Stan Johnson.
Gilbert, Ariz. — Phoenix Commercial Advisors has negotiated the $10 million sale of Shops at Cooley Station, a 15,912-square-foot retail center located at 4049 E. Williams Field Road in Gilbert, roughly 20 miles outside Phoenix. The property was fully occupied at the time of sale by tenants including Pacific Dental, Wing Stop, F45, Little Caesars, Life Quest and My House. Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.
Littleton, Colo. — Blue West Capital has arranged the sale of Mineral Shops, a neighborhood retail center located at 4760 W. Mineral Ave. in the Denver suburb of Littleton. Mineral Shops features 9,910 square feet of retail space and was 100 percent occupied at the time of sale. Tenants include Rita B Salon, Blush Nail Salon, King Liquor, Dunkin’ and Columbine Dentistry. Robert Edwards and Carly Kelly of Blue West Capital represented the buyer, a Texas-based private real estate investment company, and seller, a San Francisco-based private real estate investor, …
Fort Oglethorpe, Ga. — Stan Johnson Co. has arranged the sale of The Forts, a 5,013-square-foot, two-tenant retail center located in Fort Oglethorpe, about eight miles from Chattanooga. Ryan Roedersheimer of Stan Johnson Co. represented the seller, a Tennessee-based investor. An individual investor from Cumming, Georgia, acquired the property for $1.8 million. Built in 2018, the building is fully leased to America’s Best Contacts & Eyeglasses and Buff City Soap on long-term triple net leases.
Duarte, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $11.9 million sale of a 19,497-square-foot retail center located at 2315-2329 Huntington Drive in the Los Angeles County community of Duarte. Jeff Lefko and Bill Asher of Hanley Investment Group represented the buyer, a private investor in Monrovia, California, in the acquisition of the property from Lake Development. CVS/pharmacy anchors the center, which is fully occupied by tenants including Bank of America and Children 1st Pediatric Group.
