Investment sales

Cross Creek
Investment salesNewsTennessee

SRS Brokers Sale of 262,847-Square-Foot Retail Property in Memphis

by Julia Sanders

Memphis, Tenn. — SRS Real Estate Partners has brokered the sale of Cross Creek Shopping Center, a 262,847-square-foot retail property in Memphis. A New York-based entity doing business as Allied Development of Memphis LLC sold the property for an undisclosed price to Aspen Real Estate. Kyle Stonis and Pierce Mayson of SRS’ Investment Properties Group represented the seller in the transaction, and Aspen was self-represented. Cross Creek is shadow-anchored by The Home Depot and features tenants including Ross Dress for Less, Conn’s HomePlus, dd’s Discounts and Five Below.

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Investment salesNew JerseyNews

Katz & Associates Arranges $13 Million Sale of Former Movie Theater in Hoboken, New Jersey

by Julia Sanders

Hoboken, N.J. — Katz & Associates has arranged the $13 million sale of a 20,000-square-foot retail building formerly occupied by Bow Tie Cinemas in Hoboken, located across the Hudson River from Manhattan. Jonathan Greenberg of Katz & Associates represented the seller, Hoboken Theaters LLC, in the transaction. Jon Compitello and Dan Spero of JLL represented the buyer, Hoboken Grace Community Church, which will use the buildings as its new headquarters and community center.

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Investment salesNewsOhio

Marcus & Millichap Negotiates $2.2 Million Sale of Rite Aid-Occupied Property in Sandusky, Ohio

by Julia Sanders

Sandusky, Ohio — Marcus & Millichap has negotiated the $2.2 million sale of an 11,325-square-foot property net leased to Rite Aid in Sandusky, a city in northern Ohio located along Lake Erie. The property is located at 334 W. Perkins Ave. Rite Aid has roughly six years remaining on its lease. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented the Ohio-based private seller and the buyer, a Michigan-based limited liability company, in the transaction.

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Deer Creek Village
CaliforniaInvestment salesNews

DJM Capital Buys Four Grocery-Anchored Properties in California Totaling 488,000 Square Feet

by Julia Sanders

San Jose, Calif. — DJM Capital, through a joint venture with affiliates of Fortress Investment Group, has acquired a four-property, grocery-anchored portfolio totaling 488,000 square feet of retail space across California. Merlone Geier sold the portfolio. Chris Hoffmann of Eastdil Secured brokered the transaction. Bank of America served as lender and Brian Ley of JLL acted as equity intermediary. The portfolio includes: Magnolia & Adams, a 68,000-square-foot property at 9062 Adams Ave. in Huntington Beach, California; Magnolia & Warner, a 62,000-square-foot center at 17070 Magnolia St. in Fountain Valley, California; …

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Shoppes at Woolbright
FloridaInvestment salesNews

CBRE Arranges Sale of 146,759-Square-Foot Shopping Center in South Florida

by Julia Sanders

Boynton Beach, Fla. — CBRE has arranged the sale of Shoppes at Woolbright, a 146,759-square-foot shopping center in Boynton Beach. Casey Rosen, Dennis Carson, Chris Bosworth, Will Pike and Brian Pfohl of CBRE represented the seller, Principal Real Estate Investors. The Georgetown Co. acquired the property. Built in 2008, the property was 99 percent leased at the time of sale with Publix as the anchor tenant. The shopping center is located at 10935 Jog Road at the intersection of Jog and Woolbright roads.

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Investment salesNewsNorth Carolina

JLL Arranges $28.2 Million Sale of Publix-Anchored Retail Center in Metro Charlotte

by Julia Sanders

Indian Trail, N.C. — JLL Capital Markets has arranged the $28.2 million sale of The Shoppes at Hanfield Village, a 90,996-square-foot, Publix-anchored retail center in Indian Trail, about 16 miles from Charlotte. Thomas Kolarczyk, Ryan Eklund, Bill Moylan, Daniel Naughton and Jordan Lex of JLL facilitated the transaction on behalf of the sellers, KGI Properties and Arista LLC, and procured the buyer, Pantry Express. Additionally, Taylor Allison and John Gavigan of JLL secured $17.5 million in acquisition financing on behalf of the buyer. Grant Street Funding provided the 10-year, fixed-rate, …

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Costco Plaza
ArizonaFaris Lee InvestmentsInvestment salesNews

Faris Lee Investments Brokers $27.8 Million Sale of Costco Plaza Retail Center in Tempe

by Julia Sanders

Tempe, Ariz. — Faris Lee Investments has arranged the sale of Costco Plaza, a 237,000-square-foot shopping center shadow-anchored by Costco at the southeast corner of Elliot Road and Priest Drive in Tempe. A Southern California-based private investor sold the property to a Southern California-based developer for $27.8 million. MacLellan of Faris Lee Investments represented the seller in the transaction.

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Fresh Thyme
IndianaInvestment salesNews

Stan Johnson Co. Brokers $18.7 Million Sale of Two Grocery-Anchored Properties in Indiana

by Julia Sanders

Fishers and Carmel, Ind. — Stan Johnson Co. has brokered the $18.7 million sale of two Fresh Thyme Market-occupied grocery stores in metro Indianapolis. The seller was a Chicago, Illinois-based private equity fund, and the buyer was a private equity fund headquartered in Mexico City. Mark Lovering of Stan Johnson Co. represented both parties in the transaction. Located at 11481 East 116th St. in Fishers and 3400 East 146th St. in Carmel, the freestanding properties are approximately 28,600 square feet each. Fresh Thyme Market has long-term net leases at both …

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retail center
CaliforniaInvestment salesNews

CBM1 Negotiates $13.1 Million Sale of Retail Center in West Los Angeles

by Julia Sanders

Los Angeles — CBM1 has arranged the sale of a neighborhood shopping center located at 11201-11223 National Blvd. in West Los Angeles. Los Robles Office Partners sold the property to a private party for $13.1 million. The 10,883-square-foot center includes eight units; a newsstand; a Wells Fargo ATM; two income-producing billboards; and a cell tower. At the time of sale, seven of the eight units were occupied. Geoff Grossman of CBM1 represented the seller, while Paul Brehme of Lee & Associates represented the buyer in the transaction.

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IllinoisInvestment salesNews

Mid-America Brokers Sale of 193,657-Square-Foot Shopping Center in Northern Illinois

by Julia Sanders

Rockford, Ill. — Mid-America Real Estate Group has brokered the sale of State Street Market in Rockford. The 193,657-square-foot shopping center is positioned at the northwest corner of State Street and Trainer Road. The property was 69 percent leased at the time of sale to Burlington, Dollar Tree, Jo-Ann Fabric, Old Chicago and PetSmart. Rick Drogosz of Mid-America represented the seller, Highlands REIT, and the buyer, Rhino Investments.

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