Richardson, Texas — Venture Investment Partners has purchased The Shire at CityLine, an 83,256-square-foot office and retail property located in the northeastern Dallas suburb of Richardson. The property was built on 6.2 acres between 2005 and 2006 and was 85 percent leased at the time of sale. Tenants include Sweeney Eye Associates, Dogtopia, Shire Pediatrics, North Texas Dermatology, Anaya’s Seafood, Republic Title, Modern Dental, Ameriprise, Re/Max and Gillespie’s Tavern. Adam Howells, Barry Brown, Jack Copher and Beth Copeland of JLL represented the seller, Standridge Cos., in the transaction.
Cleveland, Ohio — The Cooper Commercial Investment Group has arranged the $3 million sale of a fully occupied retail center in suburban Cleveland. Further details on the property were undisclosed. Dan Cooper of Cooper Commercial represented the seller, a private Ohio-based investment group, in the disposition of the property to an undisclosed private investment group based in the Midwest.
Bolingbrook, Ill. — First National Realty Partners has acquired Maple Park Place, a 212,000-square-foot retail center located roughly 33 miles west of downtown Chicago in Bolingbrook. Rick Drogosz of Mid-America Real Estate Corp. represented the undisclosed seller in the transaction. The property is anchored by a 23,000-square-foot Aldi grocery store, as well as a 44,000-square-foot Burlington and a 32,000-square-foot Best Buy. Additional tenants at the time of sale included Advanced Auto Parts, Dollar Tree, Meineke, Benjamin Moore and X-Sport Fitness.
Humble, Texas — JLL has arranged the sale of Humblewood Shopping Center, a 163,897-square-foot power center located in the Houston-area community of Humble. Chris Gerard, Ryan West and Erin Lazarus of JLL represented the seller, Forge Capital Partners, in the disposition of the property to JBL Asset Management for an undisclosed price. Conn’s and Petco anchor the center, which was home to tenants including Michaels, DSW, Five Below, Texas State Optical, Sketchers, GameStop, Honey Baked Ham, Jason’s Deli, Smoothie King, IHOP, Humble Nails, Gadget MD and Ace Cash Express at …
Greeley, Colo. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Centerplace of Greeley. The 152,000-square-foot shopping center is located in the Northern Colorado community of Greeley. Safeway anchors the property, which was occupied by Ross Dress for Less, Famous Footwear, Buckle, Bath & Body Works, Cold Stone Creamery, Bank of America, Sally Beauty, Tokyo Joe’s and Heartland Dental at the time of sale. Ryan Bowlby and Drew Isaac of IPA represented the seller, InvenTrust Properties, and procured the buyer, Slate Grocery REIT, …
Greenville, S.C. — Institutional Property Advisors, a division of Marcus & Millichap, has brokered the $10.7 million sale of Cherrydale Market, a newly built, 70,635-square-foot shopping center in Greenville. The property houses three tenants: Burlington, Ulta Beauty and Five Below. Zach Taylor of IPA arranged the transaction on behalf of the seller, an entity doing business as Cherrydale 245 LLC. The buyer was Agree Realty, a net lease retail REIT based in Bloomfield Hills, Michigan. “We procured the equity for the developer to get the property out of the ground …
Bakersfield, Calif. — Hanley Investment Group Real Estate Services has arranged the $10.1 million sale of Colonial Square, a 41,238-square-foot retail strip center located north of Los Angeles in Bakersfield. Bill Asher and Jeff Lefko of Hanley represented the seller, LS Capital Inc. Independent realtor and broker Paul Stansen represented the buyer, a Los Angeles-based private investor, in the 1031 exchange transaction. The property was developed in 1985 and was 97 percent occupied at the time of sale.
Colonial Heights, Va. — Divaris Real Estate has arranged the $5.5 million sale of Southpark Shopping Center in the Richmond suburb of Colonial Heights. John Madures of Divaris represented the buyer, Q&L Realty, in the transaction. The 34,705-square-foot retail center is located at 1829-1865 Southpark Blvd. Tenants at the time of sale included For Eyes, Party City and Landmark Financial. The new ownership plans to begin capital expenditures at the property, to include landscaping improvements, the addition of new signage and parking lot updates.
Durham, N.C. — Armada Hoffler Properties has sold two single-tenant retail properties in Durham for a combined $23.9 million. The assets include a 120,000-square-foot store at 1700 N. Pointe Drive that is leased to The Home Depot and a 148,663-square-foot store at 1510 N. Pointe Drive leased to Costco. The adjacent, triple-net-leased stores are situated within two miles of Duke University and downtown Durham. Alex Sharrin, Alex Geanakos and Michael Roberts of JLL represented Armada Hoffler in the transaction. An unnamed investment firm based in New York City purchased both stores.
Highlands Ranch, Colo. — Marcus & Millichap has arranged the sale of Highlands Ranch Marketplace, a neighborhood retail center in Highlands Ranch. Sidford Capital acquired the asset for $6.1 million. Located at 9385 S. Colorado Blvd., Highland Ranch Marketplace was fully leased to 10 tenants at the time of sale. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, a Colorado-based private investor, and procured the buyer in the transaction.