Investment sales

Progressive Negotiates $3.9 Million Sale of Multi-Tenant Retail Center in Metro San Bernardino

by Julia Sanders February 14, 2022

Big Bear Lake, Calif. — Progressive Real Estate Partners has arranged the sale of Village Mall at Big Bear, a multi-tenant retail property located at 40729 Village Drive in Big Bear Lake, about 41 miles from San Bernardino. An Inland Empire-based investor sold the property to a San Gabriel Valley-based investor for $3.9 million. Greg Bedell and Roxy Klein of Progressive Real Estate represented the seller, while Doreen Chen of Pinnacle Real Estate Group represented the buyer in the deal. At the time of sale, the 24,806-square-foot retail center was …

February 14, 2022

Investment sales Minnesota News

Hanley Investment Group Arranges $3.5 Million Sale of Raising Cane’s Property in St. Cloud

by Julia Sanders February 14, 2022

St. Cloud, Minn. — Hanley Investment Group Real Estate Advisors has arranged the $3.5 million sale of a 3,493-square-foot retail property occupied by Raising Cane’s at 2635 W. Division St. in St. Cloud. Jeff Lefko and Bill Asher of Hanley Investment Group, in association with Rob Wise of CBRE, represented the seller, TOLD Development Co. Chris Rodriguez of Pacific Commercial Investments Inc. represented the buyer, Caravella Properties. The newly constructed single-tenant property is ground leased to Raising Cane’s on a long-term, absolute triple-net, corporate-guaranteed lease.

February 14, 2022

Investment sales News North Carolina

Flagship Realty Purchases Retail Building in Asheboro, North Carolina for $2 Million

by Julia Sanders February 14, 2022

Asheboro, N.C. — Flagship Realty LLC has purchased 1334 East Dixie Drive, a two-tenant retail building in Asheboro. The 6,400-square-foot property was fully occupied at the time of sale by Mattress Warehouse and AT&T. Jimmy Flowers of Flowers Capital Holdings brokered the $2 million sale. Flowers Capital Holdings will also manage the property. Pinnacle Bank provided a $1.6 million loan for the acquisition.

February 14, 2022

Investment sales Kansas News

Block & Co. Arranges Sale of Red Lobster-Occupied Property in Kansas City, Kansas

by Julia Sanders February 14, 2022

Kansas City, Kan. — Block & Co. has arranged the sale of a 7,575-square-foot freestanding restaurant property occupied by Red Lobster in Kansas City. Alex Block and David Block of Block & Co. represented the seller, an undisclosed property ownership group, in the disposition of the property to LPC Retail LLC.

February 14, 2022

Investment sales News Texas

SRS Real Estate Negotiates Sale of 78,888-Square-Foot Shopping Center in Metro Austin

by Julia Sanders February 11, 2022

Georgetown, Texas — SRS Real Estate Partners has negotiated the sale of Oak Meadows Marketplace, a 78,888-square-foot shopping center located in Georgetown, about 28 miles from Austin. Built in 2018, the property was 92 percent leased at the time of sale, with grocer Randall’s serving as the anchor tenant. Cathy Nabours, Walter Saad, Kyle Shaffer and Aaron Johnson of SRS represented the seller, Cypress Equities, in the disposition of the property to Phillips Edison & Co.

February 11, 2022

Faris Lee Investments Investment sales Louisiana News

Faris Lee Arranges Sale of 10 Dairy Queen-Leased Properties in Louisiana

by Julia Sanders February 11, 2022

Irvine, Calif. — Faris Lee Investments has arranged the sale of 10 Dairy Queen-occupied properties across Louisiana. The portfolio was sold to two separate buyers. Scott DeYoung, Jeff Conover and Hunter Steffien of Irvine, California-based Faris Lee represented the seller, an entity doing business as MP Holdings LLC, in the transaction. The 10 freestanding locations feature drive-thrus and are located in metro New Orleans, Baton Rouge, Lafayette and Houma.

February 11, 2022

Colorado Investment sales News

IPA Brokers Sale of Sprouts Farmers Market-Occupied Property in Denver

by Julia Sanders February 11, 2022

Denver — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a 23,300-square-foot property occupied by Sprouts Farmers Market in Denver’s Green Valley Ranch neighborhood. Ryan Bowlby and Drew Issac of IPA, along with James Rassenfoss of Marcus & Millichap, represented the seller, Evergreen DevCo, and procured the buyer, Rustic Partners, in the deal. The grocery store anchors a new shopping center development located at the northeast corner of 56th Avenue and Tower Road.

February 11, 2022

Florida Investment sales News

Marcus & Millichap Arranges $5.8 Million Sale of Retail Strip Center in Orlando

by Julia Sanders February 11, 2022

Orlando, Fla. — Marcus & Millichap has arranged the $5.8 million sale of Shoppes at Lee, a two-building, 19,970-square-foot retail strip center in Orlando. Located at 1084 Lee Road, the property was leased to tenants including FedEx Office, Boost Mobile, Little Caesar’s and Trustco Bank at the time of sale. Nick Ledvora of Marcus & Millichap represented the seller, an entity doing business as Peak 14 LLC, and procured the buyer, Malhan Investments LLC, in the transaction.

February 11, 2022

Investment sales News South Carolina

JLL Arranges Sale of 255,868-Square-Foot Shopping Center in Metro Charlotte

by Julia Sanders February 10, 2022

Indian Land, S.C. — JLL Capital Markets has arranged the sale of Promenade at Carolina Reserve, a 255,868-square-foot shopping center in Indian Land, about 25 miles from Charlotte. Jim Hamilton, Brad Buchanan, Tom Kolarczyk, Ryan Eklund and Andrew Kahn of JLL represented the seller, Hutton. Bandera Ventures acquired the property. Completed in 2018, Promenade at Carolina Reserve was fully leased at the time of sale to tenants including T.J. Maxx, Burlington, Ross Dress for Less, HomeGoods, Ulta Beauty, Hobby Lobby and Petco. Additionally, the center includes five single-tenant outparcel pads …

February 10, 2022

Connecticut Investment sales News

Urstadt Biddle Buys Shopping Center in Metro New Haven for $33.6 Million

by Julia Sanders February 10, 2022

Shelton, Conn. — Urstadt Biddle Properties Inc. has acquired Shelton Square, a 186,000-square-foot shopping center in Shelton, about 10 miles from New Haven, for $33.6 million. Shop & Stop anchors the property with a 67,000-square-foot store and an additional 70,000-square-foot space that formerly housed a Bradlees department store. Other tenants at the center, which was 96.5 percent leased at the time of sale, include People’s United Bank, St. Vincent’s/Hartford Health, Burger King and Sport Clips. The seller was not disclosed.

February 10, 2022

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