Investment sales

Pennyrile-Marketplace_Hopkinsville
Investment salesKentuckyNews

Fimiani Development Purchases 85,000-Square-Foot Pennyrile Marketplace Shopping Center in Hopkinsville, Kentucky

by Hayden Spiess

Hopkinsville, Ky. — Fimiani Development Corp. has acquired Pennyrile Marketplace, an 85,000-square-foot shopping center located at 3010 Fort Campbell Blvd. in Hopkinsville. Seritage KMT Finance sold the property for $3.8 million. Built in 1978, Pennyrile Marketplace sits on 12 acres near the Fort Campbell Army base and houses tenants including Harbor Freight Tools, Bargain Hunt and Farmers Home Furniture. Mike Fimiani represented the buyer in the transaction on an internal basis, and Marc Ozburn and Ross Robison of Berkeley Capital Advisors represented the seller. Fimiani Development plans to make renovations …

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Hillside-Sedona-Sedona-Arizona
ArizonaInvestment salesNews

MCA Realty Acquires Shopping Center in Sedona, Arizona for $12.5 Million

by Hayden Spiess

Sedona, Ariz. — MCA Realty has purchased Hillside Sedona, a 35,000-square-foot shopping center located in Sedona, Arizona. Tracy Cartledge, Bob Buckley, Shane Carter and Chris Hollenbeck of Cushman & Wakefield represented MCA in the $12.5 million transaction. The center was 89 percent leased at the time of sale. Tenants include The Hudson, Javelina Cantina, Berkshire Hathaway and Mooney’s Irish Pub & Burger Bar.

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Investment salesMassachusettsNet leaseNews

SRS Arranges $16.1 Million Sale of Metro Boston Retail Property Leased to CVS/pharmacy

by Hayden Spiess

Watertown, Mass. — SRS Real Estate Partners has arranged the $16.1 million sale of a 14,400-square-foot retail property located in the western Boston suburb of Watertown. The property was built in 2016 and is leased to CVS/pharmacy on a triple-net basis. Kevin Held of SRS represented the seller, a West Coast-based family trust, in the transaction. Josh Kanter of Marcus & Millichap represented the buyer, a Massachusetts-based private investor that acquired the property via a 1031 exchange.

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12547-Hawthorne-Blvd-Hawthorne-CA
CaliforniaFaris Lee InvestmentsInvestment salesNet leaseNews

Faris Lee Negotiates $11.1 Million Sale of Bank of America-Occupied Retail Building in Metro Los Angeles

by Hayden Spiess

Hawthorne, Calif. — Faris Lee Investments has arranged the sale of a retail building located at 12547 Hawthorne Blvd. in Hawthorne, roughly 15 miles outside Los Angeles. An Orange County-based private office group sold the property to the City of Hawthorne for $11.1 million. Bank of America occupies the 12,919-square-foot, single-tenant building on an absolute triple-net lease. Shaun Riley, Jeff Conover and Scott DeYoung of Faris Lee Investments represented the seller, while Chris Beck of Newmark Knight Frank represented the buyer in the deal.

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Lakemoor_Starbucks_GreenstonePartners
IllinoisInvestment salesNet leaseNews

Greenstone Partners Brokers $2.3 Million Sale of Starbucks-Occupied Property in Lakemoor, Illinois

by Hayden Spiess

Lakemoor, Ill. — Greenstone Partners has brokered the $2.3 million sale of a newly constructed retail property occupied by Starbucks Coffee in Lakemoor, located in Northeast Illinois. The net-leased building is situated within the larger Lakemoor Commons development, which is home to tenants such as Heartland Dental, Chipotle Mexican Grill and Buona Beef. Brewster Hague and Jason St. John of Greenstone represented the seller, a Chicago-area developer. The duo also procured the buyer, a private entity based in California completing a 1031 exchange.

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EoS-Fitness-Greenway-Gateway-Mesa-AZ
ArizonaInvestment salesNews

Cushman & Wakefield Brokers $18.9 Million Partial Sale of Greenfield Gateway Retail Center in Mesa, Arizona

by Hayden Spiess

Mesa, Ariz. — Cushman & Wakefield has arranged the sale of a 67,709-square-foot portion of Greenfield Gateway, a 349,143-square-foot retail center located in Mesa. Greenfield Gateway LLC sold the property to an entity formed by the Hinkson Co. for $18.9 million. Situated on 10.1 acres, the sold portion consists of fully leased buildings, including an EoS Fitness-anchored building and two multitenant strip-retail buildings. Michael Hackett, Ryan Schubert and Chris Hollenbeck of Cushman & Wakefield in Phoenix represented the seller in the transaction.

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CVS
FloridaInvestment salesNet leaseNews

Marcus & Millichap Brokers $6.3 Million Sale of CVS/pharmacy Location in Orlando

by Hayden Spiess

Orlando, Fla. — Marcus & Millichap has brokered the $6.3 million sale of a single-tenant retail building located at 3212 Curry Ford Road in Orlando. The 13,824-square-foot property is net leased to CVS/pharmacy. Gabriel Britti, Ricardo Esteves and Ronnie Issenberg of Marcus & Millichap’s Miami office represented the seller, a limited liability company, and the undisclosed buyer.

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Investment salesNewsRestaurantsTexas

Littwitz Investments Inc. Brokers Sale of Two Texas Retail Properties

by Hayden Spiess

The Woodlands, Texas and Houston, Texas — David Littwitz of Littwitz Investments Inc. has brokered the sale of two retail properties, located in The Woodlands and Houston. Located at 922 Lake Front Circle in The Woodlands, the first property was sold by RFL LLC to HMC Woodlands LLC for an undisclosed price. David Littwitz represented the buyer, and Pierce Owens and Donna Kolius of JLL represented the seller. The 3.03-acre property houses a 10,808-square-foot building, which formerly operated as a Luby’s restaurant. A full-service Niko Niko restaurant is scheduled to …

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Disney Investment Group Texas
Investment salesNewsTexas

Disney Investment Group Sells 294,431-Square-Foot Shopping Center in Odessa, Texas

by Hayden Spiess

Odessa, Texas — Disney Investment Group (DIG) has sold Chimney Rock, a 294,431-square-foot retail center located in Odessa. David Disney and Adam Crockett of DIG represented the seller of the institutionally owned property. The shopping center was 93 percent leased at the time of sale and is anchored by Academy Sports, Best Buy, Marshalls, Ulta Beauty, Petco, JOANN Fabric and Crafts and Northern Tool. Other tenants include Mattress Firm, Kirkland’s, Versona, Carters and Longhorn Steakhouse. Fidelis was the buyer.

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Downtown-Chestertown-Maryland
DelawareFloridaInvestment salesMarylandNews

A&G Conducts $18.4 Million in Sales for 21 Commercial Properties at Bankruptcy Auction

by Hayden Spiess

Melville, N.Y. — A&G Real Estate Partners has secured the sales of 21 properties in Maryland, Delaware and Florida at a real estate bankruptcy auction. All assets were formerly owned by the late Zebulon J. and Beatrice Brodie. In the Aug. 16 bankruptcy auction, 19 properties in Maryland and one each in Delaware and Florida fetched a total of $18.4 million. The transactions included: the $6.7 million sale to different buyers of four contiguous, largely undeveloped properties in a busy commercial district on Legion Road in Denton, Maryland; the $1.5 …

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