Investment sales

South-Hills-Mall-Plaza
Investment salesNewsNorth Carolina

JLL Arranges $38.4 Million Sale of 365,000-Square-Foot Retail Center in Metro Raleigh

by Katie Sloan

Cary, N.C. — JLL Capital Markets has arranged the sale of South Hills Mall & Plaza, a 365,000-square-foot retail center in the Raleigh-area community of Cary. Sarah Godwin, Thomas Kolarczyk and Matt Winters of JLL represented the seller, an entity known as South Hills Shopping Center Inc. An affiliate of Northpond Partners acquired the property for $38.4 million. South Hills Mall & Plaza was 99 percent leased at the time of sale to tenants such as Northern Tool and Equipment, Roses, Tuesday Morning, Grand Asia Market, Anchor Auto Outlet, Mitchells Academy, Déjà Vu Furniture, NC …

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Arbor-Square
GeorgiaInvestment salesNews

Joint Venture Sells Arbor Square Shopping Center in Metro Atlanta for $18.4 Million

by Katie Sloan

Douglasville, Ga. — A joint venture between Connolly and Coro Realty has sold Arbor Square, a 127,195-square-foot shopping center located roughly 23 miles outside Atlanta in Douglasville. ALTO Real Estate Funds purchased the property for $18.4 million. Mark Joines and Drew Fleming of Newmark arranged the sale. Developed by Connolly in 1977, Arbor Square was fully renovated in 2018 and was 97 percent occupied at the time of sale by tenants such as Burlington, HomeGoods, Skechers, Starbucks Coffee, Five Guys and Del Taco.

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963-Houston-Northcutt
Investment salesNewsSouth Carolina

Cushman & Wakefield Brokers $14.3 Million Sale of Movie Theater Property in Metro Charleston

by Katie Sloan

Mount Pleasant, S.C. — Cushman & Wakefield has brokered the $14.3 million sale of a 33,000-square-foot property formerly occupied by Regal Cinemas in Mount Pleasant, about 9.5 miles from Charleston. Nick Tanana and Brady Dashiell of Cushman & Wakefield represented the seller, Regal Cinemas, in the disposition of the property to Collett Capital. The site was marketed as a redevelopment opportunity.

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DevelopmentInvestment salesNewsVirginia

Green Clean Express Auto Wash Purchases Land in Metro Richmond for $1.5 Million

by Katie Sloan

Henrico County, Va. — Green Clean Express Auto Wash has purchased approximately one acre of land at 9486 West Broad St. in Henrico County, about 8 miles from Richmond. Green Clean Express plans to develop its third location in the Richmond metropolitan area. Alex Wotring of Cushman & Wakefield | Thalhimer represented the buyer in the $1.5 million sale transaction. The seller was not disclosed. 

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Town Country
CaliforniaInvestment salesNews

Donahue Schriber Sells 216,320-Square-Foot Shopping Center in Sacramento

by Julia Sanders

Sacramento, Calif. — Donahue Schriber has sold Town & Country Village, a dual grocery-anchored shopping center in Sacramento, to Phillips Edison & Co. for an undisclosed price. Trader Joe’s and Sprouts Farmers Market co-anchor the 216,320-square-foot center. At the time of sale, the property was 91 percent leased to tenants including Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx and Five Below. Town & Country Village is situated on 19 acres at 2601-2651 and 2717-2805 Marconi Ave. Originally constructed in 1950, the asset was most recently renovated between …

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AlabamaInvestment salesNews

Crayton Commercial Acquires 87,480-Square-Foot Shopping Center in Montgomery

by Julia Sanders

Montgomery, Ala. — Crayton Commercial LLC has acquired Sturbridge Village Shopping Center, an 87,480-square-foot retail center in Montgomery. Built in 1994 on 10 acres of land, the center is anchored by a 45,000-square-foot Winn-Dixie grocery store and pharmacy. The center is also home to tenants including Bedzzz Express, Chicken Salad Chick, Marco’s Pizza and GiGi’s Cupcakes. LeRoy McEntire of ARC Realty of Montgomery brokered the transaction. Michael Holshouser of Pinnacle Financial Partners provided an undisclosed amount of funding for the sale.

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Derby Square
Investment salesNewsOhio

JLL Arranges $17.7 Million Sale of Shopping Center in Metro Columbus

by Julia Sanders

Grove City, Ohio — JLL Capital Markets has arranged the $17.7 million sale of Derby Square, a 125,250-square-foot neighborhood shopping center in Grove City, about 10 miles from Columbus. Amy Sands, Clinton Mitchell, Michael Nieder and Bill Poffenberger of JLL represented the seller, a joint venture between Madison International Realty and SITE Centers Corp. A private buyer based in the Midwest acquired the asset. Derby Square was 99 percent leased at the time of sale to tenants including Giant Eagle, Once Upon a Child, Plato’s Closet, Novacare Rehabilitation, Salon Lofts, …

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Investment salesNew JerseyNews

Irgang Group Acquires 393,000-Square-Foot Shopping Center in Southern New Jersey

by Julia Sanders

Millville, N.J. — Irgang Group has acquired Union Lake Crossing, a 393,000-square-foot shopping center located on a 43.4-acre site in Millville, a city in southern New Jersey. Ben Bruner of the Bruner Group represented Irgang Group. Chris Munley, James Galbally and Colin Behr of JLL Capital Markets represented the seller, Goodman Properties. Built in 2006, Union Lake Crossing is shadow-anchored by Target and anchored by a recently expanded and remodeled Shop-Rite supermarket, Kohl’s and Ross Dress For Less. Other tenants include Famous Footwear, Party City, Five Below, Buffalo Wild Wings, …

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The Shoppes at Arabelle Perimeter
GeorgiaInvestment salesNews

CBRE Brokers Sale of 17,199-Square-Foot Retail Property in Metro Atlanta

by Julia Sanders

Sandy Springs, Ga. — CBRE has brokered the sale of The Shoppes at Arabelle Perimeter, a 17,199-square-foot street-front retail condominium in Sandy Springs, about 17 miles north of downtown Atlanta. Located at 1110 Hammond Drive, the property occupies the ground floor of a 384-unit multifamily building called Arabelle Perimeter situated at the corner of Hammond Drive and Peachtree Dunwoody Road. Developed in 2017, the retail condominium is home to tenants including Grub Burger Bar, Just Love Coffee, Rush Bowls and Local Wood Fired Grill. A real estate fund advised by …

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Shoprite
Investment salesNewsPennsylvania

IPA Negotiates $52 Million Sale of Penrose Plaza Shopping Center in South Philadelphia

by Julia Sanders

Philadelphia — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $52 million sale of Penrose Plaza, a 258,494-square-foot shopping center in South Philadelphia. Anchored by ShopRite Supermarket, the property was 94 percent leased at the time of sale to tenants such as Planet Fitness, DD’s Discounts, Citi Trends, Fine Wine & Good Spirits and Chase Bank. Brad Nathanson of IPA represented the seller, a joint venture between Onyx Equities, Abrams Realty & Development and Siguler Guff & Co., in the deal. Nathanson also procured the …

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