Investment sales

World Plaza
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $10 Million Sale of Shopping Center in Southern California

by Julia Sanders

San Bernardino, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $10 million sale of World Plaza, a 55,810-square-foot multi-tenant retail property located in San Bernardino. Matt Burnett of Hanley Investment Group represented the seller, Presidio Property Trust Inc. Brian Heron of Commercial Retail Associates represented the undisclosed buyer in the transaction. Located at 1535 E. Highland Ave., the property was home to seven tenants at the time of sale including Chuze Fitness, Citizen’s Bank, Mother’s Nutrition, County of San Bernardino, Five Keys School, a dental office and …

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Lake Mary Pointe
FloridaInvestment salesNews

JLL Arranges $8.7 Million Sale of Shopping Center in Metro Orlando

by Julia Sanders

Lake Mary, Fla. — JLL Capital Markets has arranged the $8.7 million sale of Lake Mary Pointe, a 51,052-square-foot shopping center anchored by Publix in Lake Mary, about 27 miles from Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL marketed the property on behalf of the seller, HS Capital Funds Inc. Tricon Development of Brevard Incorporated acquired the property. The property was 98 percent leased at the time of sale to tenants including Healthy Pets and Urgent Care, Flawless Hair Salon, China Star, Mariner Finance, Jailisco, Divine Nails …

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ArizonaInvestment salesNews

Cushman & Wakefield | PICOR Negotiates Sale of 45,556-Square-Foot Retail Space in Southern Arizona

by Julia Sanders

Tucson, Ariz. — Cushman & Wakefield | PICOR has arranged the sale of a 45,556-square-foot retail property located at 770 N. Kolb Road in Tucson. The building was formerly occupied by a discount movie theater that closed in March, according to the Arizona Daily Star. VRE Storage Tucson Kolb LLC acquired the property from Century Theaters for $4 million. Greg Furrier of Cushman & Wakefield | PICOR represented the seller, while James Montgomery of Verdad represented the buyer in the deal.

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Goodwill
Investment salesNewsNorth Carolina

Marcus & Millichap Arranges $3.4 Million Sale of Goodwill-Occupied Property in Central North Carolina

by Julia Sanders

High Point, N.C. — Marcus & Millichap has arranged the sale of a Goodwill-occupied property located at 2012 North Main St. in High Point. The 11,480-square-foot net-leased property was sold for $3.4 million. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller, a California-based limited liability company, in the transaction. Ben Yelm, North Carolina Broker of Record, assisted in closing this transaction.

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Charleston Plaza
CaliforniaInvestment salesNews

Nuveen Real Estate Sells Charleston Plaza Retail Center in Silicon Valley for $71.8 Million

by Julia Sanders

Palo Alto and Mountain View, Calif. — Nuveen Real Estate has completed the disposition of Charleston Plaza, a five-building retail center in Palo Alto and Mountain View. San Francisco-based Presidio Bay acquired the property for $71.8 million. Situated on 10.9 acres at 2400-2470 Charleston Road, Charleston Plaza features 132,590 square feet of retail space. Completed in 2006, the property features four big box retail buildings and one pad site. Key tenants include PetSmart, Starbucks Coffee and Chipotle Mexican Grill. Will Connors, Daniel Renz and Michael Manas of the JLL Capital …

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Investment salesMichiganNews

MKiezi Investments Acquires Oakland Mall in Metro Detroit

by Julia Sanders

Troy, Mich. — MKiezi Investments has acquired Oakland Mall in Troy, about 24 miles from Detroit, from CenterCal Properties. The mall, which opened in 1968, spans roughly 1.5 million square feet and is home to Macy’s, J.C. Penney and a former Sears store, which MKiezi acquired last year. Other retailers at the mall include Dick’s Sporting Goods and At Home. Hobby Lobby is scheduled to open later this year in a portion of the former Sears space. Longhorn Steakhouse will replace the former Logan’s Roadhouse space. MKiezi plans to make …

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Investment salesNewsTexas

Vista Cos. Acquires 70,000-Square-Foot Montgomery Crossing Shopping Center in Metro Houston

by Julia Sanders

Conroe, Texas — Vista Cos. has acquired Montgomery Crossing, a 70,000-square-foot retail center located about 45 miles north of Houston in Conroe. At the time of sale, the center was 70 percent leased to tenants such as Dollar Tree, The Toasted Yolk Café, Whataburger and Mattress Firm. Rob Kilcrease and Matt Berry of CBRE represented Vista Cos. in the deal. The seller was not disclosed. Veritex Bank provided acquisition financing to Vista Cos.

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Shops at Dynamite
ArizonaInvestment salesNews

Phoenix Commercial Advisors Negotiates Sale of 69,755-Square-Foot Retail Center Near Phoenix

by Julia Sanders

Cave Creek, Ariz. — Phoenix Commercial Advisors has arranged the sale of The Shops at Dynamite Creek, a neighborhood retail center located at the entrance of Tatum Ranch master-planned community in Cave Creek, about 26 miles from Phoenix. David Malin of Scottsdale Development Partners sold the property to an undisclosed buyer for $21.9 million foot. Located at 28242 N. Tatum Blvd., The Shops at Dynamite Creek features 69,755 square feet of retail space. At the time of sale, the property was 96 percent leased to tenants including Ace Hardware, RE/MAX, …

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Twin Lakes
Investment salesNewsNorth Carolina

JLL Arranges Sale of Wegmans-Anchored Shopping Center in Metro Raleigh

by Julia Sanders

Cary, N.C. — JLL Capital Markets has arranged the sale of Twin Lakes Center, a multi-tenant shopping center in Cary, about 16 miles from Raleigh. Thomas Kolarczyk and Ryan Eklund of JLL represented the seller, Leyland Alliance. Dallas-based L&B Realty Advisors acquired the Wegmans-anchored property on behalf of an institutional client. Built in 2020, Twin Lakes Center was fully leased at the time of sale to tenants including Hollywood Feed, Great Clips, Mezeh Mediterranean Grill, Premier Martial Arts, PM Pediatrics, Paris Nail Bar, Bul Box and Gulli Boys. The center …

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Woodland Hills
CaliforniaInvestment salesNews

Matthews Brokers $9 Million Sale of Woodland Hills Retail Property in California

by Julia Sanders

Woodland Hills, Calif. — Matthews Real Estate Investment Services has arranged the sale of a retail building located at 5780 Canoga Ave. in Woodland Hills. Bolour Associates acquired the property from Flamingo Investments for $9 million in an off-market transaction. Baja Fresh, Salad Farm and The Stand are tenants at the retail building. Kyle Pari and Michael Pakravan of Matthews Real Estate Investment Services represented the buyer and seller in the transaction.

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