Las Vegas — Dapper Cos. has purchased the historic Huntridge Theater in Las Vegas for $4 million. The company plans to renovate the theater, which is on the National Register of Historic Places. The theater originally opened in 1944 and shuttered after nearly 60 years of operation on July 31, 2004. The property was originally operated by the Commonwealth Theater Company of Las Vegas and in 1951, was taken over by the Huntridge Theater Company of Las Vegas, partially owned by actresses Loretta Young and Irene Dunne.
Investment sales
Highland Creek, N.C. and Ocoee, Fla. — Westwood Financial LLC has acquired Prosperity Village Square and Fountains West, two Publix-anchored shopping centers in the Southeast. Prosperity Village Square was developed in 2016 and is located in the Highland Creek suburb of Charlotte. Fountains West is a neighborhood center located in the western Orlando suburb of Ocoee, Fla. Westwood Financial acquired the centers in a single transaction from one undisclosed, private seller. CBRE acted as lead broker on the deal, the price of which was not disclosed. The Los Angeles-based investor …
Boston — SVN | Parsons Commercial Group has brokered the $7 million sale of a portfolio of four retail buildings totaling 15,181 square feet in Massachusetts. Rockland Trust occupies each of the buildings, which are located at 40 Austin St. in Newton, 1290 Main St. in Waltham, 4 N. Main St. in Bellingham and 231 E. Central St. in Franklin. The buyer and seller were not disclosed. Marilyn Santiago of SVN | Parsons Commercial Group brokered the deal.
Dallas — Fort Worth-based based investment and development firm Crescent Real Estate LLC has re-acquired The Crescent, a 1.3 million-square-foot mixed-use property in Uptown Dallas. The property was originally built in 1986 and consists of a luxury hotel, three office towers and retail/restaurant space. According to The Dallas Morning News, the sales price was upwards of $700 million. The 11-acre property was part of Crescent Real Estate’s initial public offering in 1994. After a later sale, Crescent Real Estate re-acquired the asset in 2009 in partnership with Barclays. This latest …
Meridian, Idaho — Wood Investment Cos. Inc. has acquired CentrePoint Marketplace 197,288-square-foot shopping center in Meridian, for $35 million. Built in 2007, CentrePoint Marketplace is located on 19.3 acres at 3319 N. Eagle Road at the intersection of East Ustick Road and Eagle Road. The property is fully leased to tenants including Kohl’s, Dick’s Sporting Goods, Walgreens, Qdoba Mexican Eats, Panera Bread and Wingers Restaurant & Alehouse. Chad Moore of Mountain West Commercial Real Estate represented Wood Investments Cos. in the acquisition of the center from Centrepoint Marketplace LLC, a …
New York City — Progress Capital has arranged a $15 million acquisition loan for a development site located at 124-132 E. 125th St. in Harlem. The site is situated near public transit outlets and several recreational areas such as McNair Park, Alice Kornegay Triangle and Harlem Art Park. The borrower, locally based developer Maddd Equities, plans to construct a building of an undisclosed size that will feature retail and other types of commercial space. Brad Domenico of Progress Capital arranged the loan, terms of which included two years of interest-only …
Ceres, Calif. — Yosemite Properties has completed sale of Whitmore Plaza, a shopping center located at 2517-2617 Mitchell Road and 2908-2920 E. Whitmore Ave. in Ceres. Save Mart Portfolio Owner NLP CA LLC acquired the center from Yosemite Properties for $18.4 million. Save Mart grocery store and Planet Fitness anchor the 115,396-square-foot property. Greg Aguirre of Capital Rivers Commercial and Jeff Lefko of Hanley Investment Group Real Estate Advisors represented the seller in the transaction.
McKinney, Texas — STRIVE has arranged the sale of Virginia Commons, a 13,878-square-foot retail strip center located in the Dallas suburb of McKinney. The property is situated on Virginia Parkway just west of U.S. Route 75. Hudson Lambert of STRIVE represented the seller, a North Texas investor, and cooperated with an outside broker to source the buyer, a local Dallas-area investor.
Lansing, Mich. — Kohan Retail Investment Group has acquired Lansing Mall in Michigan for an undisclosed price. The 706,925-square-foot regional mall is located at 5330 W. Saginaw Highway in Lansing. Tenants include JC Penney, Regal Cinemas, Best Buy, Barnes & Noble, TJ Maxx and Shoe Carnival. CBRE’s National Retail Partners Midwest team represented the seller, Brookfield Properties Group.
Bourbonnais, Ill. — Hanley Investment Group Real Estate Advisors has arranged the $4.4 million sale of a 9,723-square-foot retail pad site at Bradley Commons, a Walmart-anchored shopping center located in Bourbonnais. Jeff Lefko and Bill Asher of Hanley Investment Group, in conjunction with ParaSell Inc., represented the seller, Midland Atlantic Properties. The buyer was a private investor from Des Moines, Iowa. Located at Bradley Commons at 2070 N. State Route 50, the four-tenant pad building is home to Jersey Mike’s Subs, Midwest Express Clinic, AT&T and uBreakiFix. The 1.29-acre property …