Madison, Wis. — An affiliate of Next Realty LLC has acquired Essex Square, a 44,000-square-foot retail center in Madison. The property was home to 15 tenants at the time of sale, including Concentra Health Services, Half Price Books, The Camera Store, Allstate, Great Clips and MOKA Coffee. Built in 1987 and located along East Towne Boulevard, Essex Square is situated adjacent to the 790,000-square-foot East Towne Mall. Landmark Credit Union provided acquisition financing.
Fresno, Calif. — Matthews Real Estate Investment Services has arranged the purchase of Shaw West Center, a shopping plaza located at 2047-2097 W. Shaw Ave. in Fresno. A 1031 exchange buyer acquired the property from an undisclosed seller for $11.1 million. Nabil Awada of Matthews Real Estate Investment Services represented the buyer in the deal.
Madison, Wis. — Marcus & Millichap has arranged the sale of Sauk Point Square in Madison for $5 million. The 26,350-square-foot retail center is located at 701 N. High Point Road. Marcus & Millichap’s Rowlett Group represented the seller, a group of local investors, as well as the buyer, an out-of-state limited liability company.
Lakewood, Colo. — Blue West Capital has brokered the sale of a retail property located at 5807 W. Colfax Ave. in Lakewood, about 7 miles from Denver. A California-based family office sold the property to a California-based investor for $2.8 million. O’Reilly Auto Parts has occupied the property on a net-lease basis since 1998, with approximately four years remaining on its lease. Brandon Gayeski of Blue West Capital represented the seller and buyer in the deal.
Albany, N.Y. — WS Development has acquired Stuyvesant Plaza, a 240,000-square-foot shopping center in Albany that houses more than 60 retailers and restaurants. The property was originally built in 1959. The seller was an entity doing business as Stuyvesant Plaza Inc. The new ownership plans to implement a value-add program.
Peoria, Ill. — The Boulder Group has negotiated the $7.9 million sale of a single-tenant retail property net leased to Best Buy in Peoria. The 46,432-square-foot building is located at 5001 N. Big Hollow Road. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a West Coast-based investor. A Midwest-based real estate company was the buyer. Best Buy has more than four years remaining on its lease.
Las Vegas — CBRE has arranged the sale of Regency Plaza, a retail property located at 320 N. Nellis Blvd. in Las Vegas. Rock Ridge Regency Plaza LLC acquired the property from Regency Developments LLC for $4.4 million. Roy Fritz, Michael Hsu, Dylan Heroy and Kellie Ortiz-Thompson of CBRE represented the seller in the transaction. Five tenants fully occupy the 28,281-square-foot property on long-term leases.
Columbus, Ga. — Coro Realty has sold Cross Country Plaza, a 314,000-square-foot retail center in Columbus, for $42.6 million. The buyer was an affiliate of Hackney Real Estate Partners. Transwestern’s Southeast Investment Services Group represented Coro Realty in the transaction. Built in 1956, the property was renovated in 2000 and then again in 2012. Anchored by Publix, Cross Country Plaza was 90 percent leased at the time of sale. Other tenants include T.J. Maxx, Burlington, Goodwill, Chipotle Mexican Grill, Chuck E. Cheese’s, Mattress Firm and 2nd & Charles. Located on …
Wellesley, Mass. — Linear Retail Properties has acquired two commercial properties in Wellesley, about 17 miles from Boston, for a combined price of $12.2 million. The first building spans 11,000 square feet of retail, office and residential space, while the second building comprises 6,000 square feet of retail space. Marilyn Santiago of SVN | Parsons Commercial Group represented the undisclosed seller in the transaction.
Lafayette, Colo. — The Boulder Group has arranged the sale of a single-tenant retail property located at 825 U.S. Highway 287 in Lafayette, about 11 miles from Boulder. The building traded for $6.8 million. Tractor Supply Co. occupies the 21,930-square-foot building on a net-lease basis. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the California-based 1031 exchange buyer in the transaction, while Andrew Bogardus of Cushman & Wakefield represented the undisclosed seller.
