Investment sales

JCPenney
Company newsDelawareInvestment salesMarylandNew HampshireNew JerseyNewsVirginia

Copper Property Trust Sells Seven East Coast JCPenney Stores for $65.2 Million

by Hayden Spiess

Jersey City, N.J. — Copper Property CTL Pass Through Trust has sold seven JCPenney retail locations on the East Coast in three transactions totaling $65.2 million. The assets include stores in Delaware, Maryland, New Hampshire and Virginia. The buyers were not disclosed. Copper Property is a New York common law trust that was established to acquire 160 retail properties and six warehouse distribution centers from department store chain JCPenney as part of the retailer’s Chapter 11 reorganization plan. The stores are located at the following malls and shopping centers: Christiana …

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Mainstreet-Boynton-Beach
FloridaGrocery-anchoredInvestment salesNews

PEBB Enterprises, Banyan Development Sell Mainstreet at Boynton Beach for $33 Million

by Hayden Spiess

Boynton Beach, Fla. — A joint venture between PEBB Enterprises and Banyan Development has sold Mainstreet at Boynton Beach, a 52,152-square-foot retail center in Florida. West Parkway Realty bought the center, which was completed in 2021, for $33 million. Sprouts anchors the fully leased development, with other tenants including AT&T, Crown Wine & Spirits, F45, Capitol Carpet & Tile and GoodVets. Danny Finkle and Eric Williams of JLL represented PEBB and Banyan in the transaction.

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Palm-Trails-Plaza
FloridaGrocery-anchoredInvestment salesNews

TSCG Brokers $17 Million Sale of Palm Trails Plaza Shopping Center in Deerfield Beach, Florida

by Hayden Spiess

Deerfield Beach, Fla. — TSCG has brokered the sale of Palm Trails Plaza, a 76,067-square-foot shopping center located at Military Trail and SW 10th Street in Deerfield Beach. An affiliate of Savitar Realty Advisors sold the retail center to an affiliate of Boca Raton, Florida-based Investments Limited for $17 million. Anthony Blanco, Mallory Silva and Nick Ureta of TSCG represented the seller in the all-cash transaction. Completed in 1998 and 2012, Palm Trails Plaza was fully leased at the time of sale to tenants including anchor Walmart Neighborhood Market. The …

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Coral-Springs-Dunkin
FloridaInvestment salesNews

CBRE Facilitates $4.6 Million Sale of Retail Center in Metro Fort Lauderdale

by Hayden Spiess

Coral Springs, Fla. — CBRE has arranged the sale of a 4,088-square-foot neighborhood retail property in Coral Springs, approximately 20 miles northwest of Fort Lauderdale. Anchored by Dunkin’ Donuts, the center is also leased to a dry cleaner. An undisclosed local buyer purchased the property for $4.6 million. Benjamin Silver of CBRE represented the seller, PROLEG 102 LLC, in the transaction.

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Barrett-Pavilion-Kennesaw
GeorgiaInvestment salesNews

Octave Holdings and Investments Acquires Barrett Pavilion for $58.75 Million

by Hayden Spiess

Kennesaw, Ga. — Octave Holdings and Investments has purchased Barrett Pavilion, a 369,971-square-foot center located near Town Center Mall in Kennesaw. The property was acquired from a joint venture between Stockbridge and Lincoln Property Co. via Octave’s investment vehicle Octave Opportunity Fund LLC for $58.8 million. Barrett Pavilion is shadow anchored by Target and leased primarily to national tenants including Total Wine & More, Ulta Beauty, AMC, Old Navy, REI, Ted’s Montana Grill and Cold Stone Creamery. The center will be managed by Pinnacle Leasing and Management.    

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Investment salesKansasNews

Blue West Capital Negotiates Sale of 22,800-Square-Foot Retail Property in Wichita, Kansas

by Hayden Spiess

Wichita, Kan. — Blue West Capital has negotiated the sale of Killarney Center, a 22,800-square-foot retail property in Wichita. Located at 3101 N. Rock Road, the center is home to Golftec, T-Mobile, Oh Yeah China Bistro, Oreck Clean Home and The Health Connection. The sale also included a Scooters Coffee ground lease. Shawn Dickmann and Carly Kelly of Blue West Capital represented the buyer, an out-of-state, private real estate investment company. The seller and sales price were not released.

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Planet-Fitness-New-Smyrna
FloridaInvestment salesNews

SRS Arranges $9.45 Million Sale of 101,728-Square-Foot Shopping Center in New Smyrna Beach, Florida

by Hayden Spiess

New Smyrna Beach, Fla. — The Investment Properties Group of SRS Real Estate Partners has arranged the $9.45 million sale of New Smyrna Shopping Center, a 101,728-square-foot shopping center in New Smyrna Beach. Kyle Stonis and Kevin Yaryan of SRS represented both the seller, RCC New Smyrna Beach Shopping Center LLC, and buyer, Emerald Eagles LP, in the transaction. AMC, Planet Fitness, and Dollar General anchor the center, which was 98 percent occupied at the time of sale.  

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Investment salesNevadaNews

Phillips Edison Acquires Las Vegas Crossroads Towne Center

by Katie Sloan

Las Vegas — Phillips Edison and Company Inc. (PECO) has purchased Crossroads Towne Center in Las Vegas. Anchored by Walmart, the 148,770-square-foot community shopping center is home to a mix of national and local retailers and restaurants, such as Planet Fitness, Bath & Body Works, Bank of America, Salon Boutique, Mattress Firm, CosmoProf and Dickey’s BBQ. This center is the fifth in the greater Las Vegas market to be acquired by PECO. 

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ConnecticutInvestment salesNet leaseNews

New England Retail Properties Arranges $10.5 Million Sale of Six Retail Properties in Connecticut

by Katie Sloan

Wethersfield, Conn. — New England Retail Properties has arranged the sale of six retail properties in Connecticut net leased to Smithland Supply. Matt Halprin of Wethersfield, Connecticut-based New England Retail represented the sellers — Retail Property One LLC, Retail Property Two LLC, Retail Property Three LLC and Retail Property Four LLC — in the transactions. Previously operated as Agway stores, the freestanding Smithland Supply properties are located in Manchester, Southington, Bethel, North Haven, Middlefield and North Branford, Connecticut. The properties were acquired by Trio Fund I CT Portfolio.

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Piqua-Starbucks
Investment salesNet leaseNewsOhio

Cooper Commercial Investment Group Arranges $2.8 Million Sale of Starbucks Location in Suburban Dayton

by Katie Sloan

Piqua, Ohio — Cooper Commercial has arranged the $2.8 million sale of a single-tenant retail building occupied by Starbucks Coffee in the Dayton suburb of Piqua. Dan Cooper of Cooper Commercial represented the seller, a private developer out of the Midwest, in the disposition of the property to an undisclosed Missouri-based buyer. The location was designed according to the latest Starbucks prototype, featuring a drive-thru lane, patio and prominent signage. The property is occupied under a 10-year, triple-net-lease featuring 10 percent rent increase every five years.

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