Tucson, Ariz. — Alturas Real Estate Funds has acquired Tucson Fiesta, a retail center at 4215, 4225 and 4235 N. Oracle Road in Tucson. EVT Tucson Fiesta sold the property for $14.6 million. Chris Hollenbeck of Cushman & Wakefield represented the buyer in the deal. Three major retailers in the discount furniture, clothing and golf industries fully occupy the 93,005-square-foot property.
Chesapeake, Va. — An affiliate of Klein Enterprises has purchased Towne Place at Greenbrier, a 76,500-square-foot shopping center located at 725 Eden Way North in Chesapeake, about seven miles from Norfolk. David Crotts of Institutional Property Advisors brokered the disposition of the property from Lingerfelt Commonwealth Partners. The center was 97 percent leased at the time of sale to 23 tenants including Jersey Mikes, Moe’s, Cox Communications, Pure Barre and Stretch Labs. The property is also shadow anchored by Target and Dollar Tree’s global headquarters.
Delray Beach, Fla. — Sleiman Enterprises has acquired Delray Square, a 160,000-square-foot shopping center in Delray Beach. Berkeley Capital Advisors represented the undisclosed seller in the transaction. Delray Square was 96 percent occupied at the time of sale by tenants including Publix, Hobby Lobby, Walgreens, Chipotle Mexican Grill and Chick-fil-A. Publix recently relocated to a newly constructed 45,600-square-foot space at the property, while Hobby Lobby recently signed a long-term lease with plans to open in the next few months.
Lewisville, Texas — Disney Investment Group has negotiated the sale of Lewisville West, a 129,129-square-foot shopping center located in Lewisville, about 25 miles north of Dallas. Anchored by El Rancho Supermercado, the center was 79 percent leased at the time of sale to tenants such as Liquor Den, Jefferson Dental, Verizon, Cricket Wireless and Starbucks Coffee. David Disney and Adam Crockett of DIG represented the undisclosed seller and procured the buyer, Newport Capital Partners, in the transaction.
Chino Hills, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of two multi-tenant retail properties in Chino Hills for a combined $19.1 million. Ed Hanley, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, VantageOne Real Estate Investments, in both transactions. The first transaction included the $11.4 million disposition of Chino Hills Grand Plaza to a Burbank, California-based private investor. The 12,948-square-foot retail building was leased to First Citizens Bank, Pacific Dental Services, It’s Boba Time and Pick Up Stix at the time …
Tulsa, Okla. — Stan Johnson Co. has arranged the $7.3 million sale of a 13,225-square-foot retail property in Tulsa leased to CVS/pharmacy. The property was built in 2011. B.J. Feller of Stan Johnson Co. represented the seller in the transaction. A California-based institutional investor acquired the property. The deal traded at a cap rate of 5.25 percent and was executed via a 1031 exchange.
Stonecrest, Ga. — The Palomar Group has arranged the sale of Turner Hill Marketplace, a 124,294-square-foot shopping center in Stonecrest, about 21 miles east of downtown Atlanta. A joint venture between M Street Holdings and Highline Real Estate Capital acquired the property for $16.8 million. The Palomar Group represented the seller, RCG Ventures, in the transaction. Built in 2001 and renovated in 2017, Turner Hill Marketplace was fully occupied at the time of sale by tenants such as Burlington, American Signature Furniture and Chapel Beauty.
McKinney, Texas — Disney Investment Group has arranged the sale of Craig Crossing, a 128,394-square-foot shopping center in the northern Dallas suburb of McKinney. Anchored by Club 4 Fitness, Boot Barn and Chair King, Craig Crossing was 90 percent leased at the time of sale. Other tenants include Half Price Books, Sport Clips, Fuzzy’s Taco Shop, AT&T Wireless and America’s Best Eyeglasses. David Disney and Adam Crockett of DIG represented the seller, Centcom Realty Corp., and procured the buyer, ALTO Real Estate Funds, in the transaction.
Lake City, Ga. — Marcus & Millichap has brokered the $11.9 million sale of Lake City Commons, a 91,494-square-foot, Kroger-anchored shopping center in Lake City, roughly 13 miles south of Atlanta. Zach Taylor of Marcus & Millichap’s Taylor-McMinn Retail Group represented the seller, SomeraRoad, in the transaction. The buyer, Forge Capital, assumed the property’s existing CMBS debt with the acquisition.
Franklin, Tenn. — Matthews Real Estate Investment Services has negotiated the $11.8 million sale of Carothers Crossing, a shopping center located roughly 22 miles outside Nashville in Franklin. Hutt Cooke and Clay Smith of Matthews Real Estate Investment Services represented the undisclosed seller in the transaction. The buyer was also not disclosed. Carothers Crossing was fully occupied at the time of sale by tenants such as Starbucks Coffee, FirstBank and Pacific Dental.
