Rockford, Ill. — Quantum Real Estate Advisors Inc. has arranged the sale of Rockford Commons, an 89,000-square-foot shopping center in Rockford. Ross Dress for Less and Best Buy anchor the property, which was fully leased at the time of sale. Chad Firsel of Quantum represented the seller, Core Acquisitions LLC. Daniel Waszak of Quantum represented the buyer, a Dallas-based REIT. The sale also included an outparcel for future development.
Alhambra, Calif. — Calbay Development has purchased the fee interest in a freestanding retail building along Valley Boulevard in Alhambra, about 9 miles from Los Angeles. Office Depot formerly occupied the 26,000-square-foot property, which offers 98 parking stalls and prominent visibility and signage on Valley Boulevard. Calbay acquired the property as a value-add opportunity and is in late-stage negotiations with a national retailer to lease the entire space. Bill Asher and Jeff Lefko of Hanley Investment Group brokered the transaction.
Austin, Texas — InvenTrust Properties Corp. has acquired two shopping centers in Austin for $189.3 million. The sale includes The Shops at Arbor Trails, a 357,000-square-foot center anchored by Costco Wholesale and Whole Foods Market; and Escarpment Village, a 168,000-square-foot shopping center anchored by H-E-B. The Shops at Arbor Trails was 99 percent leased at the time of sale, while Escarpment Village was fully leased.
Homosassa, Fla. — TSCG has arranged the $10.5 million sale of Springs Plaza, a Publix-anchored center in Homosassa. Anthony Blanco of TSCG represented an affiliate of E.J. Plesko & Associates in the sale of the property to an affiliate of the RG Property Group. Completed in 1986 and renovated in 1995, Spring Plaza totals 96,647 square feet. The property was 96 percent leased at the time of sale to tenants including Aaron’s Rents, T-Mobile and Quick Care Medical Clinic. The center is situated at the intersection of US Highway 98 …
Dearborn, Mich. — KJ Commercial has brokered the $10.5 million sale of a 52,000-square-foot retail center in Dearborn, about 9 miles from Detroit. Rite Aid and Goodwill anchor the fully leased property. Kevin Jappaya and David Jappaya of KJ Commercial represented the seller, the center’s original developer, as well as the buyer, a local real estate investor.
Charleston, S.C. — NAI Charleston has arranged the $6.1 million sale of a portfolio of four Walgreens-occupied properties in Beaufort, Bamberg, Chapin and Williston. Jack Owens and Will Sherrod of NAI Charleston represented the seller, C3 Investments Inc. Eric Wasserman of Acropolis Commercial Advisors LLC represented the buyer, Covestre Capital LLC, in the transaction. Further details on the properties were not disclosed.
Atlanta — JLL Capital Markets has arranged the $38 million sale of 1010 Midtown, a 44,302-square-foot retail center located on Peachtree St. NE in Atlanta’s Midtown area. The center comprises the ground level of a 425-unit luxury condominium building that was not included in the sale. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL represented the seller, The Ardent Cos., in the disposition of the property to East Coast Acquisitions. Completed in 2008, 1010 Midtown is 94 percent leased to tenants including Sugar Factory, RA Sushi Bar, Piedmont Healthcare, …
Summerville, S.C. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of a single-tenant retail property leased to Walmart Neighborhood Market in Summerville, roughly 25 miles outside Charleston. Richard Dorfman of SRS represented the 1031 exchange buyer, a private investor from California. Cushman & Wakefield represented the seller, an undisclosed investor based in Florida, which sold the property for $14.5 million.
Coconut Creek, Fla. — CBRE has arranged the $11.9 million sale of Lyons Plaza, a multi-tenant retail center in Coconut Creek, roughly 35 miles north of Miami. The 80,361-square-foot property includes two freestanding outparcel buildings. At the time of sale, Lyons Plaza was 91 percent leased to 27 retail tenants, including Conviva Care Center and Goldcoast Ballroom. David Donnellan and Patricia Friend of CBRE represented the seller, Lyons Plaza Coconut Creek LLC, in the disposition of the property to 1301 Lyons LLC.
Fontana, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $11 million sale of two multi-tenant retail pad buildings at Highland Village Shopping Center, a Sprouts-anchored shopping center in Fontana, about 50 miles from Los Angeles. The two buildings total 13,515 square feet and were leased to tenants including Cafe Rio, Jersey Mike’s Subs, Fatburger, Oggi’s Pizza, AB Barber and Crumbl Cookies at the time of sale. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, Adler Realty Investments. Mark Stein of CPMC …
