Investment sales

Block 23
ArizonaInvestment salesNews

JLL Brokers $150 Million Sale of Block 23 Office Property in Downtown Phoenix

by Julia Sanders

Phoenix — JLL Capital Markets has brokered the sale of Block 23 in downtown Phoenix for $150 million. Completed in 2019, the property consists of 307,030 square feet of Class A office, retail and amenity space. Located at 101 E. Washington St., Block 23 is 95 percent occupied by tenants such as Western Alliance Bank, EY and Chase. The asset is immediately adjacent to CityScape Phoenix, a new 1.2 million-square-foot mixed-use property, and is directly across from Footprint Center where the Phoenix Suns play. Block 23 is home to Fry’s …

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Investment salesNewsTexas

JLL Negotiates Sale of 271,157-Square-Foot Regional Power Center in Metro Houston

by Julia Sanders

Richmond, Texas — JLL has negotiated the sale of The Shops of Bella Terra, a 271,157-square-foot regional power center in the southwestern Houston suburb of Richmond. Built in phases between 2008 and 2013, the property was 93 percent leased at the time of sale to tenants such as 24 Hour Fitness, Total Wine & More, Best Buy, Five Below, Ulta Beauty, Chick-fil-A and Whataburger. Barry Brown, Adam Howells, George Cushing, Wendy Vandeventer, Ethan Goldberg and Erin Lazarus of JLL represented the undisclosed seller in the transaction. Colby Mueck, James Brolan …

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River Marketplace
Investment salesLouisianaNews

GBT Realty Buys 168,000-Square-Foot Shopping Center in Lafayette, Louisiana

by Julia Sanders

Lafayette, La. — GBT Realty Corp. has bought River Marketplace, a 168,000-square-foot shopping center located at 4313 Ambassador Caffery Parkway in Lafayette. Jim Hamilton, Ryan Shore, Ryan West, Brad Buchanan and Taylor Callaway of JLL represented the seller, RBL Real Estate, in the transaction. Developed in 2003, River Marketplace includes multi-tenant buildings and six freestanding outparcels. Shadow-anchored by Super Target, the center was 99 percent leased at the time of sale to tenants including Total Wine & More, Ross Dress for Less, Raising Cane’s and Chili’s Grill & Bar.

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1st Street
IllinoisInvestment salesNews

Colliers Arranges Sale of Mixed-Use Development Near Chicago

by Julia Sanders

St. Charles, Ill. — Colliers Chicago has arranged the sale of 1st Street Development, a mixed-use development in the heart of St. Charles, about 40 miles west of Chicago. The five-building asset consists of retail, office and residential space. The properties include: The Plaza, a two-story retail and office building; Ale Building, a four-story office and retail asset; River Loft, a five-story office, retail and condo property; Sterling Building, a five-story office and condo building; and Building 7A, a three-story retail and residential asset. The property was 97 percent leased …

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IllinoisInvestment salesNews

Marcus & Millichap Brokers $8 Million Sale of Valli Produce-Occupied Property in Metro Chicago

by Julia Sanders

Hoffman Estates, Ill. — Marcus & Millichap has brokered the $8 million sale of a 61,047-square-foot retail property net leased to grocer Valli Produce in Hoffman Estates. The building is located about 30 miles northwest of Chicago at 850 N. Roselle Road. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local private investor. The Florida-based buyer completed a 1031 exchange. Brian Stulak of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer. Valli Produce recently signed a 10-year lease …

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Champaign Town Center
IllinoisInvestment salesNews

Quantum Negotiates $4.3 Million Sale of Retail Center in Champaign, Illinois

by Julia Sanders

Champaign, Ill. — Quantum Real Estate Advisors Inc. has negotiated the $4.3 million sale of a 24,454-square-foot retail center in Champaign. Located at 2012-2032 N. Prospect Ave., the property is home to tenants including David’s Bridal, America’s Best Eyewear, Little Caesars Pizza and Sally Beauty. Chad Firsel and Jason Lenhoff of Quantum represented the seller, Core Acquisitions LLC. A private real estate investor was the buyer.

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Colonial Square
Investment salesNewsVirginia

United Hampshire Acquires Grocery-Anchored Shopping Center in Suburban Richmond

by Julia Sanders

Colonial Heights, Va. — United Hampshire US REIT has acquired Colonial Square, a 168,326-square-foot grocery-anchored shopping center located at 3107 Blvd. in Colonial Heights, a suburb of Richmond. Located off Interstate 95, Colonial Square was 99 percent leased at the time of sale to tenants including Publix, Locke Supply Co., Wells Fargo and Dollar General. Jordan Lex, Daniel Naughton and Bill Moylan of JLL represented the seller, Colonial Square Associates.

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CaliforniaInvestment salesNews

Barret Woods & OERP Purchases Shopping Center in Southern California for $47.4 Million

by Julia Sanders

Corona, Calif. — Barret Woods & OERP LLC has purchased The Shops at Dos Lagos, a lifestyle shopping center in Corona, for $47.4 million. Built in 2006, the center offers 351,200 square feet of retail space on 47.4 acres with four in-line shop buildings, four ground-leased restaurant pads, a 15-screen movie theater and a 7,000-square-foot pad available for lease or development. Current tenants include Trader Joe’s, Express, Sunglass Hut, Bath & Body Works, Daniel’s Jewelers, Sleep Number, Papaya, Fatburger, Pinkberry, Miguel’s California Mexican Cocina, Woodranch BBQ & Grill, RA Sushi, …

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Market Plaza
IllinoisInvestment salesNews

JLL Brokers $30.2 Million Sale of Suburban Chicago Retail Center

by Julia Sanders

Glen Ellyn, Ill. — JLL Capital Markets has brokered the $30.2 million sale of Market Plaza in the Chicago suburb of Glen Ellyn. Jewel-Osco anchors the 166,572-square-foot retail center. Built in 1965 and renovated in 2009, Market Plaza is home to tenants such as Ross Dress for Less, Dollar Tree, Staples, Sherwin-Williams, Sweet Basil, H&R Block, Royal Nail and Spa and Goldfish Swim School. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, RPT Realty. North American Real Estate Group was the buyer.

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ConnecticutInvestment salesNews

CBRE Negotiates $11 Million Sale of Milford Plaza Shopping Center in Connecticut

by Julia Sanders

Milford, Conn. — CBRE has negotiated the $11 million sale of Milford Plaza, a 180,315-square-foot shopping center located in the southern coastal city of Milford. Anchored by G-Mart, the property was 65 percent leased at the time of sale to tenants including Planet Fitness, Dollar Tree and Hartford Healthcare. Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer and Travis Langer of CBRE represented the owner, The Hampshire Cos., in the transaction. The team also procured the buyer, Northpath Investments.

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