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Investment sales

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FloridaGrocery-anchoredInvestment salesNews

Joint Venture Acquires Two Retail Centers Totaling 287,407 Square Feet in Florida

by Hayden Spiess

Brandon and Tamarac, Fla. — A joint venture between ShopOne Centers REIT, Pantheon and a global institutional investor has acquired two retail centers — Midway Plaza and Lithia Square — totaling 287,407 square feet in Florida. Located in Tamarac, Midway Plaza comprises 218,400 square feet. Publix anchors the property, which was 84 percent occupied at the time of sale. Walmart anchors Lithia Square, which spans 69,007 square feet in Brandon. The property was 79 percent occupied at the time of sale. This brings the joint venture’s portfolio to 1.8 million square …

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CaliforniaInvestment salesNews

Progressive Brokers $3.6 Million sale of Shopping Center in Riverside, California

by Hayden Spiess

Riverside, Calif. — Progressive Real Estate Partners has brokered the $3.6 million sale of a strip shopping center totaling 7,250 square feet in Riverside. The property was fully leased at the time of sale. Greg Bedell of Progressive represented the Los Angeles-based seller in the transaction. Girges Gad of Pacific Realty & Finance represented the buyer. 

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Company newsIllinoisInvestment salesNews

Hilco Acquires Hanes’ Brick and Mortar Store Operations

by Hayden Spiess

Northbrook, Ill. — Hilco Consumer-Retail (HCR) has completed the acquisition of operations for Hanes Outlet and Maidenform stores. HCR plans to leverage its RevUp program, which implements virtual store management with retail experts, at the stores. “We are thrilled that Hanes selected us to continue their retail brick and mortar operations, and we are excited to hit the ground running with the dedicated store teams,” says Ian Fredericks, president and chief executive officer of HCR. 

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FloridaInvestment salesNews

Limestone Acquires 3,005-Square-Foot Single-Tenant Property in Homestead, Florida

by Hayden Spiess

Homestead, Fla. — Limestone Asset Management has acquired a single-tenant property located in Homestead. Burger King occupies the building, which was built in 2008 and totals 3,005 square feet. Kevin Sanz of Orion Real Estate Group represented Limestone in the transaction. Alex Sharrin of JLL Capital Markets represented the seller. 

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FloridaIllinoisInvestment salesNewsTexas

Orion Acquires $50 Million Retail Portfolio Located in Florida, Texas, Illinois

by Hayden Spiess

Miami — Miami-based Orion Real Estate Group has acquired a retail portfolio located in Florida, Texas and Illinois for $50 million. An undisclosed family office sold the portfolio, which totals 94,000 square feet across 12 properties. Tenants at the properties — which include 11 single-tenant properties and two two-tenant properties — include banks, a fitness center, pharmacy, urgent care facility and quick-service restaurant. Alex Sharrin, Jeff Cicurel, Eric Osika and Noel O’Donnell of JLL Capital Markets represented the seller in the transaction. 

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North Park Retail
CaliforniaInvestment salesNews

Marcus & Millichap Brokers Sale of 3,200-Square-Foot North Park Retail Property in San Diego

by Hayden Spiess

San Diego — Marcus & Millichap has brokered the sale of North Park Retail, a single-tenant restaurant property at 2884 University Ave. in San Diego’s North Park neighborhood. Carlos Partners LLC sold the property to an entity doing business as 1295 University Family LP for $1.9 million. Built in 1948, North Park Retail features 3,200 square feet of space. The single-tenant property was renovated in 2014 for tenant Saiko Sake and Sushi Bar’s build out. Saiko Sushi plans to close when its lease expires in October, leaving the property available for …

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LA-Fitness_Doral-Fla
FloridaInvestment salesNews

Limestone Acquires Single-Tenant Property in Doral, Florida for $13.6 Million

by Hayden Spiess

Doral, Fla. — Limestone Asset Management has acquired a single-tenant property located in Doral for $13.6 million. LA Fitness occupies the building, which was built in 2001 and totals 37,500 square feet. Kevin Sanz of Orion Real Estate Group represented the buyer in the transaction. Alex Sharrin of JLL Capital Markets represented the undisclosed seller. 

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Investment salesNewsTexas

Shannon Waltchack Acquires 29,483-Square-Foot Retail Center in Houston

by Hayden Spiess

Houston — Investment and brokerage firm Shannon Waltchack has acquired The Vintage Center, a 29,483-square-foot unanchored retail center located in northwest Houston. Tenants at the property, which was fully leased at the time of sale, include First Community Credit Union, Vintage Smile Family Dentistry, Chicken Salad Chick, Memorial Hermann-GoHealth and Trademark Salon. John Indelli and Ryan West of JLL represented the undisclosed seller in the transaction.

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Grocery-anchoredInvestment salesMissouriNews

Cohen & Steers, Phillips Edison Acquire 121,000-Square-Foot Retail Center in Missouri

by Hayden Spiess

Des Peres, Mo. — Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Des Peres Corners, a retail center located in Des Peres, in partnership with Phillips Edison & Co. (PECO) The acquisition was made through a programmatic joint venture that is 80 percent owned by CNSREIT and 20 percent owned by PECO. A 74,000-square-foot Schnucks anchors the property, which was built in 2009 and totals 121,000 square feet. The center was 90 percent occupied at the time of sale. 

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FinanceInvestment salesMixed-useNewsTexas

JLL Secures Acquisition Financing for 43,811-Square-Foot Mixed-Use Property in Austin, Texas

by Hayden Spiess

Austin, Texas — JLL Capital Markets has secured acquisition financing for South Bend Center, a mixed-use property located in Austin. Built in 1984, the property totals 43,811 square feet across three buildings, with retail, flex warehouse, restaurant and medical office space. CW Sheehan and Peyton Ackerman of JLL arranged the financing on behalf of the borrower, Duncan Park Capital. 

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