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Investment sales

Towne Lake Plaza
GeorgiaInvestment salesNews

Connolly Acquires 28,000-Square-Foot Towne Lake Plaza in Metro Atlanta

by Julia Sanders

Woodstock, Ga. — Connolly has acquired Towne Lake Plaza, a 28,000-square-foot shopping center located 30 miles northwest of Atlanta in downtown Woodstock. Murchison Commercial Real Estate Inc. sold the center for $4.1 million. Built in 1990, the center was fully leased at the time of sale to tenants including J. Millers Smokehouse, The Blue Ghost Arcade, Gyro Aegean Grill, Alkaline Dry Bar, Dive Georgia and Wags & Wiggle Pet Boutique. Credit Union Business Services provided acquisition financing for the transaction. Retail Planning Corp. will manage the center and Connolly’s retail …

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Bassett Furniture
Investment salesNewsVirginia

Newmark Brokers Sale of 25,760-Square-Foot Retail Property in Fredericksburg, Virginia

by Julia Sanders

Fredericksburg, Va. — Newmark has brokered the sale of a 25,760-square-foot single-tenant retail property occupied by Bassett Furniture at 1551 Carl D. Silver Parkway in Fredericksburg. Matt Berres, Mat Adler and Samer Khalil of Newmark represented the seller, a private Midwest-based investor. A private buyer from Los Angeles purchased the property for $3.1 million.

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The Factory
Investment salesNewsTennessee

Holladay Purchases Factory at Franklin in Metro Nashville for $56 Million, Plans Redevelopment

by Julia Sanders

Franklin, Tenn. — Holladay Properties has purchased The Factory at Franklin, a former stove-making factory located roughly 21 miles outside Nashville in Franklin, for $56 million. Madison Wenzler of Cushman & Wakefield represented Holladay in the sale, and John Haynes of the Bradley law firm provided legal counsel. The seller was not disclosed. Allen Arender of Holladay plans to oversee the redevelopment of the property, along with development partner Ronnie Wenzler of Cushman & Wakefield. Built in 1929, The Factory at Franklin is a complex of 10 industrial buildings that …

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Oakland
Investment salesMichiganNews

Continental Realty Corp. Acquires Two Retail Centers in Michigan for $34 Million

by Julia Sanders

Troy, Mich. — Continental Realty Corp. (CRC) has acquired Oakland Plaza and Oakland Square, two shopping centers totaling nearly 392,000 square feet in Troy. The combined purchase price was $34 million. Together, the properties were 87 percent leased at the time of acquisition. Tenants include TJ Maxx, HomeGoods, Kohl’s, Bed Bath & Beyond, DSW, Michaels, Ulta Beauty, Five Below and Planet Fitness. Amy Sands and Clinton Mitchell of JLL represented the undisclosed seller. This was the first acquisition for CRC’s Opportunistic Retail Fund, a private equity fund formed this year …

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HQ Shopping Center
Investment salesNewsTexas

NewQuest Properties Acquires 116,404-Square-Foot Shopping Center in San Antonio

by Julia Sanders

San Antonio — NewQuest Properties has acquired a 116,404-square-foot shopping center located at 6001 NW Loop 410 in northwest San Antonio. Built on 12.7 acres in 1994, HQ Shopping Center was fully leased at the time of sale to tenants such as Best Buy, Ross Dress for Less, Bed Bath & Beyond and Petco. CBRE represented the undisclosed seller in the transaction.

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LA Fitness
Investment salesNewsTexas

RealSource Arranges Sale of 47,000-Square-Foot LA Fitness Property in Metro Houston

by Julia Sanders

Richmond, Texas — RealSource Group has arranged the sale of a single-tenant retail property net leased to LA Fitness, located roughly 30 miles outside Houston in Richmond. Austin Blodgett of RealSource, along with ParaSell Inc., represented the seller, a private developer based in Houston. Blodgett and ParaSell also represented the buyer, a private partnership based in Texas. The sales price was not disclosed. The 47,000-square-foot LA Fitness is situated within Waterview Town Center, a 525,000-square-foot retail center that is home to tenants including Academy Sports, At Home, 7-Eleven, Quick Quack …

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Evergreen Plaza
IllinoisInvestment salesNews

Whole Foods-Anchored Retail Center in Suburban Chicago Sells for $67.2 Million

by Julia Sanders

Evergreen Park, Ill. — Evergreen Plaza, a recently redeveloped, 255,249-square-foot retail center in the Chicago suburb of Evergreen Park, has sold for $67.2 million. The sale represents the largest single-asset retail sales transaction in the Chicago area this year, according to JLL, which brokered the sale. Anchored by Whole Foods Market, Evergreen Plaza is also home to TJ Maxx, Burlington, Five Below, Ulta Beauty, DSW and Planet Fitness. The property is 94 percent leased. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, a partnership between funds …

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Thomson Plaza
GeorgiaInvestment salesNews

Stan Johnson Co. Brokers $3.3 Million Sale of Thomson Plaza Shopping Center Near Augusta, Georgia

by Julia Sanders

Thomson, Ga. — Stan Johnson Co. has brokered the sale of Thomson Plaza, a 96,495-square-foot retail center located at 308-324 W. Hill St. in Thomson, about 33 miles west of Augusta. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the seller, an entity doing business as Thomson Plaza LLLP, which had owned the grocery-anchored property for over 49 years. A private 1031 exchange buyer from Statham, Georgia, purchased the center for approximately $3.3 million. Thomson Plaza is a KJ’s Market-anchored community center situated on more than 10.5 acres. …

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IllinoisInvestment salesNews

Cushman & Wakefield Brokers $13.1 Million Sale of Tesla-Occupied Property in Chicago

by Julia Sanders

Chicago — Cushman & Wakefield has brokered the $13.1 million sale of the Tesla Service Center of Chicago, located at 3059-3057 N. Elston Ave. in Chicago’s Avondale neighborhood. The build-to-suit for Tesla opened in 2019. The service center spans 31,700 square feet and provides maintenance and repairs for all Tesla models. Michael Marks, Evan Halkias, David Matheis and Eric Cline of Cushman & Wakefield represented the seller, a private owner. Exan Capital acquired the property on behalf of a separate account, Chicago Elston One LLC.

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5305 Winchester
Investment salesNewsTennessee

Hanley Investment Group Arranges Sales of Two Burger King-Occupied Properties in Memphis

by Julia Sanders

Memphis — Hanley Investment Group Real Estate Advisors has arranged the sale of two single-tenant retail properties net leased to Burger King in Memphis. The properties sold for a total of $6 million to two separate buyers. Matt Burnett of Hanley Investment Group, in association with Scott Reid & ParaSell Inc., represented the seller, a private investor based in Los Angeles, in both transactions. Dispositions included a 2,860-square-foot Burger King property with a drive-thru located less than one mile from the Memphis International Airport, which sold for $3.5 million to …

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