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Investment sales

Paramus-Plaza
Investment salesNew JerseyNews

Cushman & Wakefield Brokers $36.8M Sale of Northern New Jersey Shopping Center

by Hayden Spiess

Paramus, N.J. — Cushman & Wakefield has brokered the $36.8 million sale of Paramus Plaza, a 153,494-square-foot shopping center located in Paramus in Northern New Jersey. The center was fully leased at the time of sale to tenants including Hobby Lobby, Marshalls, Ashley, Skechers and Chipotle Mexican Grill. Frank DiTommaso, Gary Gabriel, David Bernhaut, Andy Merin, Max Helfman and Mark Gilbert of Cushman & Wakefield represent the seller, a partnership between Acadia Realty Trust and Fortress Investment Group, in the transaction. Brad Domenico of Cushman & Wakefield arranged acquisition financing …

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Grocery-anchoredInvestment salesMarylandNews

DLC, Meadow Partners Purchase 378,205-Square-Foot Retail Center in Forestville, Maryland

by Hayden Spiess

Forestville, Md. — DLC and Meadow Partners have purchased Penn Mar Shopping Center, a 378,205-square-foot retail center in the Washington, D.C. suburb of Forestville, from an undisclosed seller for $68.5 million. Apollo and Athene provided an undisclosed amount of acquisition financing for the deal. Shoppers Food Warehouse, which recently extended its lease and fully renovated its store, anchors the property. Other tenants at the center include Burlington, Ross Dress for Less, Dollar Tree, Petco and Foot Locker. The property also includes outparcel pads occupied by tenants including Starbucks Coffee, Truist …

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Zecca-Plaza_Gallup-N.M
Grocery-anchoredInvestment salesNew MexicoNews

Faris Lee Brokers $12.9 Million Sale of Zecca Plaza in Gallup, New Mexico

by Hayden Spiess

Gallup, N.M. — Faris Lee Investments has brokered the $12.9 million sale of Zecca Plaza, a 110,593-square-foot shopping center located in Gallup. Alberstons anchors the property. Other tenants at the center include Goodwill and O’Reilly Auto Parts. Don MacLellan and Chris DePierro of Faris represented both the seller and buyer in the transaction. 

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Westwood-Plaza_Great-Falls-Mont
Investment salesMontanaNews

SSG Realty Partners, Hanley Arrange Sale of 69,909-Square-Foot Shopping Center in Great Falls, Montana

by Hayden Spiess

Great Falls, Mont. — SSG Realty Partners and Hanley Investment Group Real Estate Advisors have arranged the sale of Westwood Plaza, a 69,909-square-foot shopping center located in Great Falls. T.J. Maxx, Staples, Dollar Tree, Ulta Beauty and Mattress Firm anchor the property, which was fully leased at the time of sale. Greg Swedelson and Jon-Eric Greene of SSG and Bill Asher and Beau Velten of Hanley represented the seller, a Michigan-based private investor, in the transaction. Westwood Plaza was originally built in 2017. 

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ConnecticutInvestment salesNews

HB Nitkin Group Sells Lockworks Square in Connecticut for $7.3 Million

by Hayden Spiess

Branford, Conn. — HB Nitkin Group has sold Lockworks Square, a four-building retail center located in Branford, for $7.3 million. Tenants at the property, which totals 35,600 square feet, include SaltBrick Prime, Lockworks Tavern, Cheri’s Bakery, Digestive Disease Associates, Physical Therapy and Sports Medicine Centers and Branford Tech Team. Will Braun of O,R&L Commercial represented the seller in the transaction and procured the buyer, an entity doing business as 155 New Road Madison LLC. Braun managed leasing at the center on behalf of HB Nitkin Group prior to the sale. 

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Park-Plaza_Manitowoc-Wis
Investment salesNewsWisconsin

Axiom Acquires 110,266-Square-Foot Retail Center in Wisconsin

by Hayden Spiess

Manitowoc, Wis. — Axiom Realty has acquired Park Plaza, a 110,266-square-foot retail center located in Manitowoc. Time Equities sold the property, which was 71.7 percent leased at the time of sale. Hobby Lobby anchors the center. Other tenants at the property include Community First Credit Union, Family Dollar and Cricket Wireless. Erin Patton of Patton Wiles Fuller Group of Marcus & Millichap’s Institutional Property Advisors (IPA) brokered the transaction. Prior to closing, Axiom negotiated a 28,894-square-foot lease with a new tenant that will bring occupancy at the center to 97.9 percent. 

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Chipotle Rancho Cordova
CaliforniaInvestment salesNet leaseNews

Hanley Brokers $4.3 Million Pre-Sale of Single-Tenant Property Near Sacramento

by Hayden Spiess

Rancho Cordova, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $4.3 million pre-sale of a single-tenant property located in Rancho Cordova, roughly 13 miles outside Sacramento. Situated on a 0.8-acre parcel within the Anatolia Marketplace shopping center, the building totals 2,325 square feet. Chipotle Mexican Grill has signed a triple-net ground lease at the property. Bill Asher and Jeff Lefko of Hanley represented the seller, an entity doing business as Anatolia Marketplace LLC, in the transaction. Chipotle is scheduled to open at the property in September.

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192nd-Plaza-Camas-WA
Investment salesNewsWashington

Marcus & Millichap Negotiates $9.6 Million Sale of 192nd Plaza Retail Property Near Portland, Oregon

by Hayden Spiess

Camas, Wash. — Marcus & Millichap has negotiated the sale of 192nd Plaza, a 34,923-square-foot retail property located in Camas, just across the Columbia River from Portland, Oregon. A limited liability company sold the property to local investors for $9.6 million. Built in 2010, the property was fully occupied by 11 tenants at the time of sale. Clayton Brown, Dylan Wolf and Ruthanne Loar of Marcus & Millichap represented the seller in the transaction.

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Investment salesNew JerseyNews

Sam Ash Properties Sells 21,929-Square-Foot Shopping Center in Edison, New Jersey

by Hayden Spiess

Edison, N.J. — Sam Ash Properties Corp. has sold a 21,929-square-foot shopping center located in Edison for $5.5 million. Marc Shein and Robert DiLeo of NAI DiLeo-Bram & Co. represented the seller in the transaction. An undisclosed grocer acquired the property, with plans to establish a flagship location. 

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Chipotle_Millington-Tenn
Investment salesNewsTennessee

Quantum Brokers $2.6 Million Sale of Single-Tenant Property in Tennessee

by Hayden Spiess

Millington, Tenn. — Quantum Real Estate Advisors has brokered the $2.6 million sale of a single-tenant property located in Millington. A California-based buyer acquired the property from a Southeast-based developer. Chipotle Mexican Grill occupies the building. Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller in the transaction. 

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