Investment sales

Whole-Foods
Investment salesMarylandNews

Stan Johnson Co. Brokers $26.8 Million Sale of Whole Foods Market in Metro Baltimore

by Katie Sloan

Towson, Md. — Stan Johnson Co. has brokered the $26.8 million sale of a single-tenant retail building leased to Whole Foods Market in Towson, roughly 14 miles outside Baltimore. The 63,750-square-foot store anchors Towson Row, a mixed-use project by Greenberg Gibbons. Jason Maier of Stan Johnson represented the buyer, a private investor based in New York, in the acquisition of the property from an undisclosed, Maryland-based investor. The building was acquired in a 1031 exchange transaction. The property was built in 2021 and is situated on 4.3 acres, less than …

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Washington-Square_Georgetown
Investment salesKentuckyNews

Stan Johnson Co. Arranges $15 Million Sale of Washington Square Shopping Center in Georgetown, Kentucky

by Katie Sloan

Georgetown, Ky. — Stan Johnson Co. has arranged the $15 million sale of Washington Square, a 122,554-square-foot shopping center located at 1002 Lexington Road in Georgetown. Ryan Roedersheimer of Stan Johnson Co.’s Cincinnati office represented the seller, a Lexington-based investment firm, in the transaction. The buyer is a private investment firm based in Austin. Washington Square was built in 1972 and is situated on a heavily trafficked corner spanning 13.9 acres about 10 miles north of Lexington. The property was fully leased at the time of sale to tenants including anchor …

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IndianaInvestment salesNews

Marcus & Millichap Arranges $3.9 Million Sale of Retail Property in Suburban Indianapolis

by Katie Sloan

Zionsville, Ind. — Marcus & Millichap has arranged the $3.9 million sale of Whitestown Parkway in Zionsville, a northwest suburb of Indianapolis. Built in 2018, the 11,332-square-foot retail property is home to five tenants. Alex Perez and Chris Garavaglia of Marcus & Millichap brokered the transaction. Both the buyer and seller were limited liability companies.

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Westfield-Santa-Anita
CaliforniaInvestment salesMallsNews

Unibail-Rodamco-Westfield Sells Westfield Santa Anita Near Los Angeles for $537.5 Million

by Katie Sloan

Arcadia, Calif. — Unibail-Rodamco-Westfield (URW) has sold Westfield Santa Anita, a 1.5 million-square-foot regional mall located roughly 15 miles northeast of Los Angeles in Arcadia, for $537.5 million. The transaction represents the largest price paid for a regional mall in the U.S. since 2018, according to Eastdil Secured, which acted as financial advisor to the seller.  The buyer is an undisclosed real estate investor that owns other retail assets in Southern California. The acquisition was funded through a combination of equity and new debt, and reflects a sub-6 percent net initial yield …

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DiMucci
Grocery-anchoredIllinoisInvestment salesNews

Continental Realty Corp. Purchases Shopping Center Portfolio in Suburban Chicago for $93.6 Million

by Katie Sloan

Chicago — Continental Realty Corp. (CRC) has entered the Chicago market with its acquisition of a five-property shopping center portfolio for $93.6 million. The properties total more than 900,000 square feet of gross leasable area and are located in Cicero, Mount Prospect, Naperville and Palatine. Specifically, the properties include Cicero Marketplace in Cicero; Northwest and English Valley shopping centers in Palatine; Golf Plaza II in Mount Prospect; and Fox River Commons in Naperville. DiMucci Cos. was the seller. Tucker Development served as an acquisition and development consultant on the transaction. The portfolio …

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IPA-6-property
ColoradoFloridaGrocery-anchoredIndianaInvestment salesNews

IPA Secures $62.4 Million Acquisition Financing for Six-Property Grocery-Anchored Retail Portfolio

by Katie Sloan

Florida, Colorado and Indiana — Institutional Property Advisors (IPA) has secured $62.4 million in acquisition financing for a six-property portfolio of grocery-anchored retail centers in Florida, Colorado and Indiana. Sunny Sajnani and Todd McNeill of IPA worked on behalf of the borrower, Essential Growth Properties, to place the five-year, fixed-rate, non-resource financing through three separate lenders. The portfolio includes Gainesville Shopping Center in Gainesville, Florida; Cheyenne Meadows Shopping Center in Colorado Springs, Colorado; Woodlands Crossing in Elkhart, Indiana; Plymouth Plaza in Plymouth, Indiana; Crawfordsville Square in Crawfordsville, Indiana; and Auburn Plaza, …

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Mid-America-Arkansas
ArkansasInvestment salesNews

Mid-America Arranges Sale of 282,608-Square-Foot Shopping Center in Russellville, Arkansas

by Katie Sloan

Russellville, Ark. — Mid-America Real Estate Corp. has arranged the sale of Valley Park Centre, a 282,608-square-foot shopping center located in the Arkansas River Valley community of Russellville. The property was 95 percent occupied at the time of sale by tenants including TJ Maxx, Ross Dress for Less, Belk, JC Penney, Shoe Carnival, Hibbett, Hobby Lobby, PetSmart and Five Below. Ben Wineman of Mid-America and Hank Kelley of Kelley Commercial Real Estate Partners represented the sellers, an affiliate of RCG Ventures and an undisclosed New York City-based joint venture partner, …

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acadiana-square_lafayette
Investment salesLouisianaNews

JLL Brokers Sale of Acadiana Square Shopping Center in Lafayette, Louisiana

by Katie Sloan

Lafayette, La. — JLL has brokered the sale of Acadiana Square, a 244,768-square-foot shopping center located at 5700 Johnston St. in Lafayette. Jim Hamilton, Ryan West and Brad Buchanan of JLL represented the sellers, DRA Advisors and RCG Ventures, in the transaction. Property Commerce Dividend Fund acquired the center for an undisclosed price. Acadiana Square was 95 percent leased at the time of sale to tenants such as Burlington, Home Furniture Co. of Lafayette, T.J. Maxx, PetSmart, Office Depot and Party City. The previous ownership executed new leases or renewals totaling …

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5200-E-Main-St-Farmington-NM
Investment salesNew MexicoNews

Newmark Negotiates Sale of Ashley HomeStore-Occupied Retail Building in Farmington, New Mexico

by Katie Sloan

Farmington, N.M. — Newmark has brokered the sale of a single-tenant retail building located at 5200 E. Main St. in Farmington. Johnston Real Estate Farmington sold the asset to an undisclosed public REIT for $6.5 million. Matt Berres, Samer Khalil and Karick Brown of Newmark’s Net Lease Capital Markets group, along with John Ransom of Colliers, represented the seller in the deal. Ashley HomeStore occupies the property on a long-term, passive double net-lease basis. The retail furniture store has more than 2,000 locations in 60 countries. 

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riverchase-crossings-teaser
AlabamaInvestment salesNews

JLL Arranges $12.9 Million Sale of Riverchase Crossings Shopping Center Near Birmingham

by Katie Sloan

Hoover, Ala. — JLL Capital Markets has arranged the $12.9 million sale of Riverchase Crossings, an 89,576-square-foot retail center located roughly 10 miles south of Birmingham in Hoover. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL and Emris Graham of EHG Properties represented the seller, Riverchase Crossings LLC, and procured the buyer, Livingston Properties, in the transaction. Built in 1977 and renovated in 2004, the property was fully occupied at the time of sale by tenants including Bed Bath & Beyond, Michaels, Office Depot and Chipotle Mexican Grill. 

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