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Investment sales

City Center Crossing
GeorgiaInvestment salesNews

First National Realty Partners Acquires City Center Crossing Shopping Center in Suburban Atlanta

by Julia Sanders

Sandy Springs, Ga. — First National Realty Partners has acquired City Center Crossing, a grocery-anchored shopping center located at 6331 Roswell Road in Sandy Springs, a northern suburb of Atlanta. City Center Crossing is a 98,408-square-foot asset that is 77 percent occupied. A 27,858-square-foot Lidl Supermarket that opened in May 2020 anchors the property. The seller and price were not disclosed. “We are extremely excited to not only acquire our first asset in the Atlanta Market but to also add Lidl to our portfolio, one of the most rapidly growing …

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Madison Commons
AlabamaInvestment salesNews

JLL Arranges $19.2 Million Sale of Publix-Anchored Retail Center in Metro Huntsville

by Julia Sanders

Madison, Ala. — JLL Capital Markets has arranged the $19.2 million sale of Madison Commons, a 75,340-square-foot shopping center located roughly 11 miles outside Huntsville in Madison. JRW Realty sourced the deal on behalf of the buyer, ExchangeRight. Brad Peterson, Whitaker Leonhardt, Jim Hamilton, Brad Buchanan, Andrew Michols and Michael Brewster of JLL represented the seller, Michael Collard Properties. Publix anchors Madison Commons, which was 92 percent occupied at the time of sale by tenants including Easy Vet Clinic, Golden China, ATI Physical Therapy, Goodwill, Primp and Posh Nail and …

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Capitol Mall
FloridaInvestment salesNews

CBRE Arranges $3.8 Million Sale of Capitol Mall in Palm Springs, Florida

by Julia Sanders

Palm Springs, Fla. — CBRE has arranged the $3.8 million sale of Capitol Mall, a mixed-use property located at 3745 South Congress Ave. in Palm Springs. Capitol Mall consists of a 23,698-square-foot multi-tenant retail building and a 7,250-square-foot warehouse. A South Florida-based private investor operating under the name Capitol Mall LLC acquired the property from Congressional Developers Inc. David Donnellan and Patricia Friend of CBRE represented the buyer in the transaction.

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WashREIT
Investment salesNewsWashington DC

JLL Arranges $168.3 Million Sale of Retail Portfolio Across Mid-Atlantic

by Julia Sanders

Washington, D.C. — JLL Capital Markets has arranged the sale of a portfolio of eight infill neighborhood retail assets totaling 695,991 square feet in Washington, D.C., northern Virginia and southern Maryland. Stephen Conley, Danny Finkle, Jordan Lex and Kim Flores of JLL represented the D.C.-based seller, WashREIT (NYSE: WRE), which sold the portfolio for $168.3 million. The buyers were Rosenthal Properties and an undisclosed institutional partner, according to the Washington Business Journal. The news outlet also reports the seller had acquired the eight properties over the span of five decades. …

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North Dekalb Mall
GeorgiaInvestment salesNews

CBRE Arranges Sale of North Dekalb Mall in Atlanta, Buyer Plans Mixed-Use Redevelopment

by Julia Sanders

Decatur, Ga. — CBRE has arranged the sale of North Dekalb Mall in Decatur, about 8.6 miles east of downtown Atlanta. Sterling Organization sold the property for an undisclosed price. The buyer, EDENS, plans to redevelop the mall into a mixed-use property, according to The Atlanta Journal-Constitution. Located at 2050 Lawrenceville Highway, North Dekalb Mall is located on 76.7 acres at the intersection of Lawrenceville Highway and North Druid Hills Road. The enclosed mall’s tenants include AMC Theatres, Dollar Tree, Burlington and Marshalls. AMC Theatres has a maximum of six …

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West Market
Investment salesNewsNorth Carolina

Marcus & Millichap Brokers Sale of 152,030-Square-Foot Shopping Center in Greensboro, North Carolina

by Julia Sanders

Greensboro, N.C. — Marcus & Millichap has brokered the sale of West Market Shopping Center, a 152,030-square-foot, Food Lion-anchored retail property in Greensboro. The property sold for $9.1 million. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Built in 1963, West Market Shopping Center is located at 4637-4653 W. Market St. The property’s tenant roster includes Cato, Strength & Body and Reconsidered Goods.

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Grand Village Center
ArizonaInvestment salesNews

LJ Mainstreet Holdings Buys Grand Village Center in Surprise, Arizona for $5 Million

by Julia Sanders

Surprise, Ariz. — Boros Investments has completed the disposition of Grand Village Center, a retail property located at 14273 and 14291 W. Grand Ave. in Surprise. LJ Mainstreet Holdings acquired the center for $5 million. The 25,653-square-foot property is fully leased to eight tenants, including Church for the Nations, Zona Communications, D’Ambrosio, Full Service Salon and Master Taco Restaurant. The buyer also acquired two adjacent undeveloped land parcels from a different seller and plans to build additional retail buildings on the site. Steve Julius, Jesse Goldsmith and Chase Dorsett of …

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La Encantada
ArizonaInvestment salesNews

Macerich Co. Sells La Encantada Lifestyle Center in Tucson for $165.2 Million

by Julia Sanders

Tucson, Ariz. — Macerich Co. has completed the disposition of La Encantada, an open-air lifestyle center in Tucson. A group of local investors acquired the property for $165.2 million. Completed in 2003, La Encantada offers 246,256 square feet of retail space. At the time of sale, the property was 93 percent leased to tenants including Crate & Barrel, Tiffany & Co., West Elm, Anthropologie, Athleta, Lululemon, Pottery Barn, Madewell, Warby Parker, Williams-Sonoma, Bluemercury, Barre 3, Core Health & Fitness, Fuchsia Spa and Laseraway, AJ’s Fine Foods, RA Sushi Bar and …

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St. Johns Commons
FloridaInvestment salesNews

CBRE Arranges Sale of 71,352-Square-Foot St. Johns Commons in Jacksonville

by Julia Sanders

Jacksonville, Fla. — CBRE has arranged the sale of St. Johns Commons, a 71,352-square-foot, Winn-Dixie-anchored shopping center in Jacksonville. Dennis Carson and Casey Rosen of CBRE represented the seller, an affiliate of Phillips Edison & Co., in the transaction. An affiliate of Ash Properties purchased the fully leased center for an undisclosed price.

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CVS
GeorgiaInvestment salesNews

Avison Young Brokers $4.2 Million Sale of CVS-Occupied Property in Sandersville, Georgia

by Julia Sanders

Sandersville, Ga. — Avison Young has brokered the $4.2 million sale of a 12,089-square-foot, retail property occupied by CVS/pharmacy at 206 S. Harris St. in Sandersville. Chris Maling and David Maling of Avison Young represented the buyer, 710 E. Katella. Cushman & Wakefield represented the seller, a private equity group from New York. Built in 2006, the single-tenant property is situated on just over 1.6 acres of land. CVS/pharmacy has occupied the space since 2006 and has 19 years remaining on its triple net lease.

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