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Investment sales

WSS Shoes and Habit Burgers
ArizonaInvestment salesNews

Marcus & Millichap Arranges $8.1 Million Sale of Retail Property in Phoenix

by Julia Sanders

Phoenix — Marcus & Millichap has brokered the sale of a retail property located at 5120 and 5110 W. Indian School Road in Phoenix. A limited liability company sold the property to a personal trust for $8.1 million. WSS Shoes and Habit Burger occupy the 13,100-square-foot shopping center, which is across the street from American Family Fields of Phoenix Baseball Park, the spring training home to the Milwaukee Brewers. Mark Ruble and Chris Land of Marcus & Millichap represented the seller, while Peter James and Rob Narchi of Marcus & …

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Investment salesMassachusettsNews

RPT Realty to Purchase Grocery-Anchored Shopping Center in Metro Boston for $131.5 Million

by Julia Sanders

Dedham, Mass. — RPT Realty is under contract to purchase a 510,000-square-foot, grocery-anchored shopping center in Dedham near Boston for $131.5 million. Stop & Shop is the anchor tenant. Other tenants at the property, which is nearly 92 percent occupied, include TJ Maxx, Dick’s Sporting Goods, Starbucks Coffee and Chipotle Mexican Grill. The acquisition is expected to close in the fourth quarter. R2G Venture LLC, RPT’s joint venture platform focused on grocery-anchored assets, will be utilized to acquire the property.

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Midlothian Crossing
Investment salesNewsVirginia

Cushman & Wakefield | Thalhimer Arranges $6.6 Million Sale of Midlothian Crossing Shopping Center in Metro Richmond

by Julia Sanders

North Chesterfield, Va. — Cushman & Wakefield | Thalhimer has arranged the sale of Midlothian Crossing in North Chesterfield, about 9.7 miles south of Richmond. Midlothian Crossing is an 87,938-square-foot shopping center that was 95.6 percent leased at the time of sale to tenants such as Big Lots and Goodwill. Catharine Spangler of Cushman & Wakefield | Thalhimer represented the seller, an entity doing business as RCC Midlothian Crossing LLC. The Richmond-based buyer, an entity doing business as 8501 MIDLO PIKE LCC, acquired the property for $6.6 million. Located off …

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Investment salesNewsTexas

Boulder Group Arranges $2.4 Million Sale of Net-Leased Retail Property in Taylor, Texas

by Julia Sanders

Taylor, Texas — The Boulder Group has arranged the $2.4 million sale of a 6,912-square-foot retail property that is net-leased to Advance Auto Parts in Taylor, located northeast of Austin. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private investor based in the Southwest, in the transaction. The undisclosed, West Coast-based buyer completed the deal via a 1031 exchange.

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Plaza Sante Fe
Investment salesNew MexicoNews

Benderson Development Buys 450,000-Square-Foot Power Center Ground Lease in Santa Fe, New Mexico

by Julia Sanders

Santa Fe, N.M. — Benderson Development has acquired two tracts of land ground-leased to Plaza Santa Fe, a 450,000-square-foot power center in Santa Fe. Truzaf LP sold the asset for an undisclosed price. The leases commenced in two phases, one in 1998 with the region’s only Target store and a newly refurbished Albertsons Market Street, and the second in 2000 with the opening of TJ Maxx, Ross Dress for Less, Best Buy, Michaels and PetSmart. Located at the intersections of Cerrillos Road, Zafarano Drive and Rodeo Road, the retail center …

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Alpine Summit
Investment salesMichiganNews

NAI Wisinski Negotiates Sale of 136,942-Square-Foot Shopping Center in Grand Rapids

by Julia Sanders

Grand Rapids, Mich. — NAI Wisinski of West Michigan has negotiated the sale of Alpine Summit Shopping Center in Grand Rapids for an undisclosed price. The 136,942-square-foot shopping center is located at 3165 Alpine Ave. The center is fully occupied by Ulta Beauty, HomeGoods, Marshalls, Petco, Party City, CATO, Sola Salons, America’s Bride and ABC Warehouse. Bob Lotzar and Bill Tyson of NAI Wisinski represented the undisclosed buyer in the transaction. NAI Wisinski also serves as the property manager.

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CVS
FloridaInvestment salesNews

Marcus & Millichap Arranges $16 Million Sale of CVS/pharmacy in Miami

by Julia Sanders

Miami, Fla. — Marcus & Millichap has arranged the $16 million sale of a freestanding CVS/pharmacy located at 10660 SW 40th St. in Miami. The 14,989-square-foot building is situated on a 2.4-acre parcel of land, a portion of which is subleased to Wendy’s. Ronnie Issenberg, Gabriel Briti, Ricardo Esteves and Kevin O’Hanlon of Marcus & Millichap represented the seller, a group of local Miami Investors, in the transaction. The buyer was not disclosed.

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Eastwood Village
AlabamaInvestment salesNews

Matthews Brokers $6.8 Million Sale of Walmart-Anchored Shopping Center in Birmingham

by Julia Sanders

Birmingham, Ala. — Matthews Real Estate Investment Services has brokered the sale of Eastwood Village East, a Walmart Supercenter-anchored shopping center located in Birmingham. Tripp Brown and Johnny Blue Craig of Matthews represented the seller, MAP Development, in the transaction. The buyer was a private investor based in Nashville, Tennessee.

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7-Eleven
CaliforniaInvestment salesNews

Triss Sells Retail Strip Center in Long Beach, California for $4.4 Million

by Julia Sanders

Long Beach, Calif. — Triss LLC has completed the disposition of a retail strip center located on the corner of East Pacific Coast Highway and Martin Luther King Jr. Avenue in Long Beach. A family trust acquired the property for $4.4 million. 7-Eleven anchors the 25,148-square-foot center. Tina LaMonica and Cheryl Pester of NAI Capital Commercial’s Investment Services represented the seller in the deal.

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Short Pump Station
Investment salesNewsVirginia

Cushman & Wakefield Arranges $46.8 Million Sale of Trader Joe’s-Anchored Shopping Center in Richmond

by Julia Sanders

Richmond, Va. — Cushman & Wakefield has arranged the sale of Short Pump Station, a 91,369-square-foot, grocery-anchored shopping center in Richmond. Wafra Inc. purchased the property for $46.8 million. Located at 11800 West Broad St., Short Pump Station is situated about 15.4 miles from downtown Richmond and is close to Route 288 and Interstates 64 and 295. Trader Joe’s, Ulta Beauty and Petco anchor the center, which was 91 percent leased at the time of sale. John Owendoff of Cushman & Wakefield represented the sellers, a joint venture between BayNorth …

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