Investment sales

Hanley Investment Negotiates $4.6 Million Sale of Restaurant Property in Southern California

by Julia Sanders March 18, 2022

Palm Desert, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $4.6 million sale of a newly constructed, single-tenant restaurant property at Monterey Crossing shopping center in Palm Desert. The Habit Burger Grill occupies the 2,700-square-foot, drive-thru building, which is located at 73320 Dinah Shore Drive. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller and developer, Fountainhead Development, in the deal. John Costa, David Fults and Brian McLoughlin of Voit Real Estate Services’ Los Angeles office represented the buyer, a Southern California-based private investor.

March 18, 2022

Investment sales News Wisconsin

Colliers Brokers $4.3 Million Sale of Retail Center in Metro Milwaukee

by Julia Sanders March 18, 2022

West Allis, Wis. — Colliers has brokered the $4.3 million sale of a 14,079-square-foot retail center in West Allis, about 6 miles from Milwaukee. The recently built property sits at the corner of South 108th Street and West Oklahoma Avenue. Some of the tenants at the fully leased center include HuHot, Tropical Smoothie Café, Elements Massage and AT&T. Adam Connor, Josh Minkin and Heather Dorfler of Colliers represented the seller, a Milwaukee-based private developer, in the transaction. The private buyer is also based in Wisconsin.

March 18, 2022

Florida Investment sales News

CBRE Arranges $3.2 Million Sale of Retail Property in Metro Tampa

by Julia Sanders March 18, 2022

Valrico, Fla. — CBRE has arranged the $3.2 million sale of a 12,496-square-foot multi-tenant property anchored by a Tire Choice Total Car Care Center in Valrico, about 16 miles from Tampa, to a private investor. Mark Shellabarger and Ari Ravi of CBRE Capital Markets represented the seller, a local private investor. Michael Kaplan from Weitzman represented the buyer. Located at 3519 Bell Shoals Road, the property was fully leased to three tenants at the time of sale.

March 18, 2022

Georgia Investment sales News

Stan Johnson Co. Brokers $3.1 Million Sale of Strip Center in North Georgia

by Julia Sanders March 18, 2022

Cornelia, Ga. — Stan Johnson Co. has brokered the sale of a multi-tenant retail strip center located at 216 Carpenters Cove Lane in Cornelia. The 6,668-square-foot center is leased to Starbucks Coffee, Cricket Wireless and Jersey Mike’s Subs. Billy Benedict of Stan Johnson Co. represented the seller, a Florida-based investor group. Newburger-Andes acquired the property for $3.1 million. Built in 2019 on a 1.3-acre parcel, the center has direct frontage to U.S. Highway 441 South. At the time of sale, there was one available suite totaling 1,750 square feet that …

March 18, 2022

Indiana Investment sales News

Marcus & Millichap Brokers $8 Million Sale of Retail Center in Metro Chicago

by Julia Sanders March 17, 2022

Hammond, Ind. — Marcus & Millichap has brokered the $8 million sale of a 55,010-square-foot retail center in Hammond, about 25 miles south of Chicago. Dollar Tree and Ross Dress for Less anchor the property, which was constructed in 2016 and is located at 1105 5th Ave. Additional tenants at the fully leased center include Rainbow and Sadoni Beauty Supply. Nicholas Kanich and Mitchell Kiven of Marcus & Millichap represented the seller, Luke Brands. Friedman Real Estate represented the buyer, Canyon Park Capital.

March 17, 2022

Illinois Investment sales News

Boulder Group Negotiates $4.1 Million Sale of Net-Leased Retail Property in Metro Chicago

by Julia Sanders March 17, 2022

Bloomington, Ill. — The Boulder Group has negotiated the sale of a single-tenant, net-leased retail property occupied by JOANN Fabrics in Bloomington, about 27 miles from Chicago. Located at 1701 E. Empire St., the 21,828-square-foot building was sold for $4.1 million. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based real estate firm, as well as the buyer, a national real estate company.

March 17, 2022

Investment sales News North Carolina

Cooper Commercial Arranges $2.4 Million Sale of The Shops of Mount Olive in Eastern North Carolina

by Julia Sanders March 17, 2022

Mount Olive, N.C. — The Cooper Commercial Investment Group has arranged the sale of The Shops of Mount Olive, a 9,267-square-foot shopping center in Mount Olive. Bob Havasi and Dan Cooper of Cooper Commercial Investment Group represented the seller, a private investor based on the East Coast. The private California buyer purchased the property for $2.4 million. Built in 2008, the center is anchored by El Mazaltlan Mexican Restaurant and is shadow-anchored by Walmart Supercenter. Other tenants at the center include Fantastic Sams, Cricket Wireless, Papa John’s and Diener Law …

March 17, 2022

Investment sales News North Carolina

Irgang Group Acquires 196,000-Square-Foot Shopping Center in Metro Charlotte

by Julia Sanders March 15, 2022

Monroe, N.C. — Irgang Group has acquired Poplin Place, a 196,462-square-foot regional shopping center in Monroe, about 21 miles from Charlotte. Ben Bruner of the Bruner Group represented Irgang Group on the transaction. Thomas Kolarczyk, Danny Finkle and Eric Williams of JLL Capital Markets represented the seller, Big V Property Group. Built in 2005, Poplin Place is fully occupied by an anchor tenant lineup that includes T.J. Maxx, Ross Dress for Less, PetSmart, Burlington, Big Lots and pOpshelf, along with a Target shadow anchor. Poplin Place also features tenants including …

March 15, 2022

California Faris Lee Investments Investment sales News

Faris Lee Brokers Sale of 117,228-Square-Foot Shopping Center in Southern California

by Julia Sanders March 15, 2022

Bakersfield, Calif. — Faris Lee Investments has arranged the sale of Ming Plaza, a retail center located on Ming Avenue in Bakersfield. A private family office sold the property to an undisclosed buyer for $26.5 million. Sean Cox, Alex Moore and Don MacLellan of Faris Lee Investments represented the seller and procured the buyer in the deal. Faris Lee also arranged financing for the buyer. At the time of sale, the 117,228-square-foot property was nearly 100 percent occupied and includes three outparcels leased to Starbucks Coffee, Chase Bank and Long …

March 15, 2022

California Investment sales News

Cushman & Wakefield Negotiates $24 Million Sale of Retail Building in West Hollywood

by Julia Sanders March 15, 2022

West Hollywood, Calif. — Cushman & Wakefield has brokered the sale of a freestanding, single-tenant retail property located at 8833 Beverly Blvd. in West Hollywood. A joint venture between Acadia Realty Trust and Osiris Ventures acquired the property for $24 million. Luxury Living fully occupies the 9,757-square-foot building. Kazuko Morgan, Carine Mamann and Steve Algermissen of Cushman & Wakefield represented the seller in the transaction.

March 15, 2022

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