Investment sales

Kroger-Wilmington
Investment salesNewsOhio

Cleeman Realty Arranges Sale of 198,085-Square-Foot Retail Center in Wilmington, Ohio

by Katie Sloan

Wilmington, Ohio — Cleeman Realty Group has arranged the off-market sale of Wilmington Plaza, a 198,085-square-foot retail center in Wilmington, Ohio. An undisclosed buyer represented by Jeremy Scheer and David Kaufman of Cleeman purchased the property for $7.9 million. Kroger anchors the center, which was 83 percent leased at the time of sale. “The buyer was attracted to the strong performing anchor tenant, national tenant lineup and upside potential through the lease-up of 33,000 square feet of vacant space,” says Scheer. The seller was also undisclosed. 

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Newmark-Walgreens
Investment salesNewsNorth Carolina

Newmark Arranges $5 Million Sale of Walgreens-Occupied Property in Whiteville, North Carolina

by Katie Sloan

Whiteville, N.C. — Newmark has arranged the $5 million sale of a single-tenant retail property occupied by Walgreens in Whiteville. The 14,820-square-foot building was sold by an undisclosed institutional investor based in Phoenix to Walgreens, which exercised its right of first refusal. Matt Berres, Samer Khalil, Karick Brown and Bert Sanders of Newmark represented the seller in the transaction. 

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West-Manchester-Town-Center
Investment salesNewsPennsylvania

JLL Brokers Sale of 488,037-Square-Foot Power Center in Southern Pennsylvania

by Katie Sloan

York, Pa. — JLL Capital Markets has brokered the sale of West Manchester Town Center, a 488,037-square-foot power center located in the southern Pennsylvania community of York. Chris Munley, James Galbally and Colin Behr of JLL marketed the property on behalf of the seller, ATR Corinth Partners. A joint venture including Paramount Realty acquired the center for an undisclosed price. Kohl’s, At Home, HomeGoods, Hobby Lobby and Burlington anchor the property, which formerly operated as an enclosed mall before being redeveloped in 2014. 

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Bay-Ridge-Court
IllinoisInvestment salesNews

Hanley Investment Group Arranges Sales of Three Multi-Tenant Retail Centers in Suburban Chicago

by Katie Sloan

Plano, Waukegan and New Lenox, Ill. — Hanley Investment Group Real Estate Advisors has arranged the sales of three multi-tenant retail properties in suburban Chicago for a combined $10 million.  The properties total 76,357 square feet and include Lakewood Springs Commons, a 26,300-square-foot center located at 200-270 Mitchell Drive in Plano; Cedar Center, a 22,370-square-foot property located at 100-196 West Illinois Highway in New Lenox; and Bay Ridge Court, a 27,687-square-foot center located at 422-484 North Green Bay Road in Waukegan.  Dylan Mallory, Jeff Lefko and Bill Asher of Hanley, …

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Gateway-Plaza
FloridaInvestment salesNews

JLL Arranges $23.6 Million Sale of 214,489-Square-Foot Open-Air Center in Metro Orlando

by Katie Sloan

Sanford, Fla. — JLL Capital Markets has arranged the $23.6 million sale of Gateway Plaza, a 214,489-square-foot, open-air retail center in Sanford, roughly 20 miles outside Orlando. Brad Peterson and Whitaker Leonhardt of JLL represented the seller, an affiliate of Apollo Global Management, in the disposition of the property to Greenberg Gibbons Commercial Corp. Greenberg acquired the property through its Greenberg Gibbons Real Estate Income Fund, which launched in March 2021 for the strategic acquisition of shopping centers across the East Coast, Southeast and Midwest. Originally developed in 1995, Gateway …

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Village-Boot-Barn
Investment salesLouisianaNews

Woodmont, Criterion Fund Acquire 144,638-Square-Foot Shopping Center in Slidell, Louisiana

by Katie Sloan

Slidell, La. — A partnership between The Woodmont Co. and The Criterion Fund has acquired Village at Northshore, a 144,638-square-foot shopping center located at 105-115 Northshore Blvd. in Slidell. Situated adjacent to I-12, the property was developed in 1988 and renovated in 2020. The retail center’s tenant roster includes Marshalls, JoAnn’s, Ollie’s Bargain Outlet, Boot Barn and Dollar Tree. Shadow anchors include Walmart Supercenter, Sam’s Club, The Home Depot and Aldi. SRS Real Estate Partners represented the seller, RCG Ventures, in the transaction. Woodmont was self-represented. Andy Thelen of Woodmont …

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CaliforniaInvestment salesNews

Clarion Partners, HP Investors Sell Three Retail Properties in San Diego for $89.8 Million

by Katie Sloan

San Diego — Clarion Partners and HP Investors have sold a collection of three single-tenant net-leased retail properties within Gateway at Kearny Mesa in San Diego. An undisclosed private investor acquired the asset for $89.8 million. Totaling 194,303 square feet, the property is fully occupied by three national tenants, including a global discount department store, Food 4 Less and Prime Car Wash/Jiffy Lube. The properties were constructed in 2001 on 18.8 acres as part of a 30-acre Gateway at Kearny Mesa retail destination. Gleb Lvovivh, Geoff Tranchina, Darcy Miramontes, Kip …

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13822-Garvey-Ave-Baldwin-Park-CA
CaliforniaInvestment salesNews

Kidder Mathews Brokers $18.1 Million Sale of LA Fitness-Occupied Property in Suburban Los Angeles

by Katie Sloan

Baldwin Park, Calif. — Kidder Mathews has arranged the sale a 45,000-square-foot retail property occupied by LA Fitness at 13822 Garvey Ave. in Baldwin Park, an eastern suburb of Los Angeles. A private family investor sold the property to an undisclosed buyer for $18.1 million in a 1031 exchange transaction. Tanel Harunzade, Darrell Levonian and Brittney McCarthy of Kidder Mathews represented the seller in the deal, while Janet Neman and Angelica Gotzev of Kidder Mathews represented the buyer.

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Newmark-Advance-Auto
Investment salesKentuckyNews

Newmark Arranges $1.4 Million Sale of Advance Auto Parts in Morgantown, Kentucky

by Katie Sloan

Morgantown, Ky. — Newmark has arranged the $1.4 million sale of a single-tenant retail property leased to Advance Auto Parts in Morgantown. The 6,895-square-foot building was acquired by a private 1031 investor. Matt Berres, Samer Khalil and Karick Brown of Newmark’s Irvine, California, office represented the seller, an undisclosed private developer, and procured the buyer in cooperation with Newmark’s Joseph Steffner.

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