Investment sales

Deerbrook-Shopping-Center
Grocery-anchoredIllinoisInvestment salesNews

Mid-America Brokers Sale of 428,612-Square-Foot Deerbrook Shopping Center in Metro Chicago

by Abby Cox

Deerfield, Ill. — Mid-America Real Estate Corp. has brokered the sale of Deerbrook Shopping Center, a 428,612-square-foot open-air center located in Deerfield, approximately 28 miles north of downtown Chicago. The purchase price was $44 million, according to several media sources. The property spans 47.5 acres and is anchored by Jewel-Osco. Additional tenants include Marshalls, Floor & Décor, Sky Zone, Office Depot, Starbucks Coffee, Panera Bread, Noodles & Co., Sleep Number, City BBQ, Mattress Firm and Subway. Rick Drogosz, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, a global investment advisor, …

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Five-Points-Plaza-Riverside-CA
CaliforniaGrocery-anchoredInvestment salesNews

Longpoint Acquires 129,699-Square-Foot Five Points Plaza in Riverside, California, for $31 Million

by Abby Cox

Riverside, Calif. — Longpoint has acquired Five Points Plaza, a 129,699-square-foot retail center located in Riverside, for $31 million. Stater Bros. anchors the property, which features a mix of additional tenants including Del Taco, Jack in the Box and Dollar Tree. Daniel Tyner, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets represented the buyer in the transaction. The seller was a private family who is the original developer of the center.

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74785-Highway-111-Indian-Wells-CA
CaliforniaInvestment salesNews

Progressive Real Estate Partners Brokers $10.5 Million Sale of Indian Wells Medical & Professional Center in California

by Abby Cox

Indian Wells, Calif. — Progressive Real Estate Partners has brokered the $10.5 million sale of Indian Wells Medical & Professional Center in Indian Wells. Built in 1996, the two-story property offers 40,750 square feet of commercial space, as well as courtyards, outdoor seating and covered parking. Current tenants include Charles Schwab, RadNet, Mercer Financial and SBEMP Law. Greg Bedell and Heather Sharp of Progressive Real Estate Partners represented the seller, Miami-based Kresher Capital, in the transaction. The buyer, Orange County, California-based Circle Vision, was self-represented.

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Yorktowne Plaza
Investment salesNew JerseyNews

Marcus & Millichap Negotiates $7.3 Million Sale of 41,219-Square-Foot Retail Property in Brick Township, New Jersey

by Abby Cox

Brick Township, N.J. ­— Marcus & Millichap has negotiated the sale of Yorktowne Plaza, a 41,219-square-foot retail property located in Brick Township, for $7.3 million. Spanning nearly 6 acres, Yorktowne Plaza features 23 retail suites. Tenants include Domino’s Pizza, Mariner Finance, Crown Fried Chicken, Nova Games and Community Medical Center. The center was constructed in 1965, according to LoopNet Inc. Brent Hyldahl, Alan Cafiero, and Seth Goldberg represented the seller, Ocean County Equities LLC, in the transaction.

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East Park Plaza
Grocery-anchoredInvestment salesNebraskaNews

Mid-America Arranges Sale of 214,029-Square-Foot Shopping Center in Lincoln, Nebraska

by Abby Cox

Lincoln, Neb. — Mid-America Real Estate Corp. has arranged the sale of East Park Plaza, a 214,029-square-foot shopping center located in Lincoln. A freestanding Russ’s Market anchors the property. Other tenants include Famous Footwear and Marcus Theatres. Rick Drogosz and Patrick Corrigan of Mid-America represented the seller, Starwood Property Trust, in the transaction. Broad Reach Retail Partners was the buyer.

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Investment salesNewsNorth Carolina

Simon Acquires 134,000-Square-Foot Phillips Place in Charlotte, North Carolina

by Abby Cox

Charlotte, N.C. — Simon has acquired Phillips Place, a 134,000-square-foot open-air lifestyle center located in the SouthPark neighborhood of Charlotte. The center is home to more than 25 retail shops and restaurants, including alice + olivia, Peter Millar, rag & bone, Ralph Lauren, Veronica Beard, RH Gallery and The Palm, as well as a 180-room hotel and a multifamily residential component. Simon plans to elevate Phillips Place over time through new offerings, fresh merchandising and ongoing investment in the property. Lincoln Harris developed the center in the late 1990s.

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390 Westport Avenue
ConnecticutInvestment salesNews

Washington Trust Provides $12.4 Million in Financing for 45,658-Square-Foot Retail Property in Norwalk, Connecticut

by Abby Cox

Norwalk, Conn. — Washington Trust has provided $12.4 million in financing for a 45,658-square-foot retail property located in the southern coastal Connecticut city of Norwalk. Marshalls anchors the center, which features other tenants such as T-Mobile and Subway, according to Showcase.com. M.F. DiScala & Co., an entity doing business as 390 Westport Avenue LLC, was the borrower. M.F. DiScala & Co. has owned the property for more than 40 years and manages a portfolio exceeding 11 million square feet across 11 states and 27 cities.

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cass-commons
IndianaInvestment salesNews

Timber Development Corp. Buys Cass Commons Shopping Center in Northern Indiana for $2 Million

by Abby Cox

Logansport, Ind. — Timber Development Corp. has acquired Cass Commons Shopping Center, a 20,000-square-foot retail center located in Logansport, approximately 40 miles northeast of Lafayette, for $2 million. Shadow anchored by Walmart Supercenter, the property is home to a mix of tenants including Maurice’s, Great Clips and Buffalo Wild Wings. Dan Waszak in the Chicago office of Quantum Real Estate Advisors brokered the transaction.

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Ninety-Ninth-Ave
ArizonaGrocery-anchoredInvestment salesNews

Phoenix Commercial Advisors Brokers $30.7 Million Sale of Sprouts Farmers Market-Anchored Retail Center

by Abby Cox

Phoenix — Phoenix Commercial Advisors has arranged the sale of Ninety Ninth Ave, a 47,201-square-foot, grocery-anchored retail center in Phoenix. A private buyer acquired the property from the developer for $30.7 million in an all-cash transaction. Ninety Nine Ave was fully leased at the time of sale to a mix of tenants including Sprouts Farmers Market, CAVA, Hand & Stone and Mountain Mike’s Pizza. The property was newly constructed in 2024 on 5.3 acres, according to LoopNet. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the …

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Green-Ridge-Square
Investment salesMichiganNews

Mid-America Arranges Sale of 225,307-Square-Foot Shopping Center in Metro Grand Rapids

by Abby Cox

Walker, Mich. — Mid-America Real Estate Corp. has arranged the sale of Green Ridge Square, a 225,307-square-foot shopping center in Walker, a northwest suburb of Grand Rapids. Shadow anchored by Target, the property is home to Best Buy, Burlington, Michaels, Urban Air, Five Below, Panera and Shoe Dept. Ben Wineman and Daniel Stern of Mid-America represented the seller, Birmingham, Michigan-based Bacall Cos. Seattle-based Bridge33 Capital was the buyer.

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