Investment sales

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GeorgiaInvestment salesNews

Hackney Trades Two Grocery-Anchored Shopping Centers in Metro Atlanta for $29 Million

by Katie Sloan

Acworth and Smyrna, Ga. — Hackney Real Estate Partners has sold two grocery-anchored shopping centers in metro Atlanta for $29 million. The assets include the 144,678-square-foot Cherokee Corners in Acworth and the 185,601-square-foot Concord Village in Smyrna. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL represented Hackney in the portfolio transaction. Both shopping centers are anchored by Food Depot, which has recently signed a 10-year renewal at both locations. Built in 1984 and renovated in 2016, Cherokee Corners was fully leased at the time of sale to tenants such as …

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Concord-Station_Charlotte
Investment salesNewsNorth Carolina

PEBB Enterprises Sells Concord Station Retail Center Near Charlotte for $15.2 Million

by Katie Sloan

Concord, N.C. — PEBB Enterprises has sold Concord Station, a 45,569-square-foot retail center located at 8591 Concord Mills Blvd. in the Charlotte suburb of Concord. The buyer, an entity doing business as South Coast Commercial LLC, purchased the center for $15.2 million. Evan Halkias and Margaret Jones of Cushman & Wakefield represented PEBB in the transaction. Situated at the entrance of Simon’s newly renovated Concord Mills Mall, Concord Station was fully leased at the time of sale to tenants including Big Blue Swim School, McAlister’s Deli, Guitar Center, The UPS …

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CaliforniaInvestment salesNews

Progressive Real Estate Brokers $5.8 Million Sale of La Pico Plaza Shopping Center in Metro Los Angeles

by Katie Sloan

Whittier, Calif. — Progressive Real Estate Partners has arranged the sale of La Pico Plaza, a neighborhood shopping center located at 9150 Painter Ave. in Whittier, roughly 15 miles outside Los Angeles. An Orange County-based private investor sold the property to Desert Capital Ventures for $5.8 million. Circle K anchors the 20,939-square-foot retail center, which was fully leased to 14 tenants at the time of sale. Greg Bedell of Progressive Real Estate Partners represented the buyer, while Drew Wetherholt of Marcus & Millichap represented the buyer in the deal. 

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ColoradoInvestment salesNews

Blue West Capital Arranges $5.3 Million Sale of Used Car Lot in Metro Denver

by Katie Sloan

Lakewood, Colo. — Blue West Capital has negotiated the sale of a 1.6-acre redevelopment site at 5991 W. Colfax Ave. in Lakewood. An undisclosed national development acquired the property from a used car dealer for $5.3 million. Located three miles west of downtown Denver, the site was previously used as a used car dealership for 18 years. The seller discontinued operations and vacated the property prior to closing. Brandon Gayeski of Blue West Capital represented the seller, while Carly Kelly (Gallagher) of Blue West Capital, represented the buyer in the deal.

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IllinoisInvestment salesNews

SRS Brokers $2.1 Million Sale of Dollar General-Occupied Property in Suburban Chicago

by Katie Sloan

Diamond, Ill. — SRS Real Estate Partners has brokered the $2.1 million sale of a 12,324-square-foot retail property occupied by Dollar General in Diamond, about 60 miles southwest of Chicago. Constructed in 2000, the building is located at 1185 E. Division St. Steven Roberts, Michael Carter and Frank Rogers of SRS represented the seller, an Illinois-based private investor. A California-based REIT was the buyer.

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IndianaInvestment salesNews

Marcus & Millichap Arranges $3.9 Million Sale of Retail Building in Mishawaka, Indiana

by Katie Sloan

Mishawaka, Ind. — Marcus & Millichap has arranged the $3.9 million sale of a 6,677-square-foot retail building in Mishawaka, a city in northern Indiana. Located at 5230 N. Main St., the property is home to Mission BBQ and Crumbl Cookies. Brennan Clegg, Chris Lind and Mark Ruble of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

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Investment salesNewsRhode Island

Marcus & Millichap Arranges Sale of 42,200-Square-Foot Retail Property in Westerly, Rhode Island

by Katie Sloan

Westerly, R.I. — Marcus & Millichap has arranged the sale of Spindrift Village, a 42,200-square-foot retail property located in the coastal Rhode Island city of Westerly. The sales price was $3.4 million. The property consists of two adjacent parcels totaling four acres that house a multi-tenant strip center and a pad site. Adam Cohen and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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CaliforniaInvestment salesNews

SBH Real Estate Group Sells 7-Eleven-Occupied Property in Gardena, California for $6.9 Million

by Katie Sloan

Gardena, Calif. — SBH Real Estate Group has completed the disposition of a commercial property located at 3121 Marine Ave. in Gardena. Masuda Investments acquired the asset for $6.9 million. 7-Eleven occupies the building on a 15-year corporate ground lease. The property includes a 3,000-square-foot convenience store and six gas station islands. The tenant opened for business in early 2022. Jeremy McChesney of Hanley Investment Group represented Eric Silverman of SBH Real Estate Group, while Trevor Morse and Chris Kostanecki of CPPRE represented the buyer in the deal.

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CaliforniaInvestment salesNews

Gateway Co. Sells 13,000-Square-Foot Retail Building at Towngate Promenade in Moreno Valley, California

by Katie Sloan

Moreno Valley, Calif. —Gateway Co. has completed the disposition of a retail building at the Towngate Promenade in Moreno Valley. A private party acquired the asset for $2.8 million. The buyer will use the 13,000-square-foot building to accommodate a Kids Empire franchised location. Kids Empire encourages healthy, happy active play for children of all ages and features age-appropriate play structures, climbing walls, slides and rides. Headquartered in Southern California, Kids Empire currently has more than 30 locations in 10 states across the country. Located at 12650 Day St., the Kids Empire indoor playground …

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Newport-Plaza
Investment salesKentuckyNews

BC Wood Acquires Two Shopping Centers in Metro Cincinnati Totaling 429,399 Square Feet

by Katie Sloan

Newport, Ky. — BC Wood Properties has purchased two retail centers in Newport, a suburb of Cincinnati. The adjacent assets, Newport Shopping Center and Newport Plaza, total 429,399 square feet. Newport Shopping Center’s tenant roster includes Newport Racing & Gaming, Crunch Fitness, Family Dollar, Dollar General, Cricket Wireless, H&R Block and GNC. Newport Plaza’s tenants include Fresh Thyme, Planet Fitness, Ace Hardware and Dollar Tree. Both centers also house several locally based stores and restaurants. BC Wood acquired the centers via its investment vehicle BC Wood Real Estate Fund III. The …

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