Investment sales

Midtown Opportunities Acquires Shops at Sunset Place in South Miami for $65.5M

by Alex Tostado January 18, 2021

South Miami, Fla. — Midtown Opportunities, a real estate investment fund based in Miami, has purchased The Shops at Sunset Place in South Miami for $65.5 million. The open-air lifestyle property features nearly 515,000 square feet of retail and office space leased to tenants such as AMC Theatres and LA Fitness. A partnership between Federal Realty Investment Trust, Grass River Property Co. and Comras Co. sold the mixed-used development after more than five years of ownership. Midtown Opportunities has retained Grass River to manage the asset. Federal Realty, Grass River …

January 18, 2021

Grocery-anchored Investment sales New Jersey News Retailers

Marcus & Millichap Arranges Sale of 138,445-Square-Foot Retail Property in Vineland, New Jersey

by Alex Tostado January 15, 2021

Vineland, N.J. — Marcus & Millichap has arranged the sale of Maintree Shopping Center, a 138,445-square-foot retail property located in the Southern New Jersey city of Vineland. The asset sold for $13.1 million. A 60,000-square-foot Acme grocery store anchors the property along with a Dollar Tree store. Kodi Traver, Joseph French Jr., Thomas Dalzell and Mark Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. Additional terms of sale were not disclosed.

January 15, 2021

Grocery-anchored Investment sales New Jersey News Retailers

Sterling Organization Acquires 94,550-Square-Foot Grocery-Anchored Retail Center in Sewell, New Jersey

by Alex Tostado January 14, 2021

Sewell, N.J. — Sterling Organization, a Florida-based private equity firm, has acquired Mill Pond Village, a 94,550-square-foot, grocery-anchored retail center located in the Southern New Jersey community of Sewell. ShopRite is the anchor grocer at the center, which is located approximately 14 miles outside of Philadelphia. The seller was EDENS, a national retail development firm. Jim Galbally, Chris Munley and Colin Behr of JLL brokered the transaction. The property was 95 percent leased at the time of sale.

January 14, 2021

Investment sales Missouri Net lease News Retailers

Block & Co. Acquires Net-Leased Restaurant Property in Liberty, Missouri

by Alex Tostado January 14, 2021

Liberty, Mo. — Block & Co. Inc. Realtors has acquired a 2,685-square-foot property occupied by Dickey’s Barbecue Pit in Liberty. The purchase price was undisclosed. The net-leased building is located at 600 S. 291 Highway, 15 miles northeast of downtown Kansas City. Block & Co. will serve as the property manager. David Block of Block & Co. internally represented the company in the purchase.

January 14, 2021

Investment sales News Retailers Tennessee

Ziff Real Estate Partners Acquires 41,439-Square-Foot Retail Property Near Nashville

by Alex Tostado January 13, 2021

Hermitage, Tenn. — Ziff Real Estate Partners has acquired Jackson’s Courtyard, a 41,439-square-foot retail center in Hermitage, for an undisclosed price. The property is located at 3441 Lebanon Pike, 13 miles east of downtown Nashville. At the time of sale, the property was leased to tenants including Co. Capelli Salon & Spa, Subway, Hermitage Dance Academy and Mirage Nails Salon. The seller was not disclosed.

January 13, 2021

Arizona Investment sales News Retailers

YAM Properties Buys 238,275-Square-Foot Pima Crossing Shopping Center in Scottsdale for $51.5 Million

by Alex Tostado January 12, 2021

Scottsdale, Ariz. — YAM Properties has purchased Pima Crossing, a retail destination at the northwest corner of Shea Boulevard and Pima Road in Scottsdale. An entity formed by Los Angeles-based Karlin Real Estate sold the asset for $51.5 million. Originally developed in 1993, Pima Crossing features 238,275 square feet of retail space. A national golf retailer anchors the property along with several other national and regional tenants. Michael Hackett and Ryan Schubert of Cushman & Wakefield Phoenix represented the seller in the deal.

January 12, 2021

Investment sales News Retailers Texas

Coldwell Banker Brokers Sale of 172,000-Square-Foot Main Place Retail Center in McAllen, Texas

by Alex Tostado January 12, 2021

McAllen, Texas — Coldwell Banker Commercial has brokered the sale of Main Place Shopping Center, a 172,000-square-foot retail power center located in the Rio Grande Valley city of McAllen. Main Place Indoor Market anchors the property, which was built on 20 acres in 1988. Daniel Galvan and Julissa Trevino of Coldwell Banker represented the buyer, locally based firm Big Sky Real Estate Investments LLC, in the transaction. The center was 84 percent leased at the time of sale.

January 12, 2021

California Investment sales News Retailers

Regency Centers Sells South Bay Village Shopping Center Near Los Angeles for $39.7 Million

by Alex Tostado January 12, 2021

Torrance, Calif. — Regency Centers has completed the disposition of South Bay Village, a shopping center located at 19330 Hawthorne Blvd. in Torrance. Charing Cross acquired the property for $39.7 million. Built in 1971 and renovated in 2012, South Bay Village features 107,539 square feet of retail space. Current tenants include Home Goods, Walmart Neighborhood Market, Orchard Supply Hardware, Marshalls and El Pollo Loco. Bill Bauman and Kyle Miller of Newmark, along with Luke Palmo of Westmac Commercial Brokerage Co., represented the seller and buyer in the transaction.

January 12, 2021

Florida Investment sales News Retailers

Tiktin Real Estate Negotiates $4.9 Million Sale of Property Leased to 7-Eleven in Metro Orlando

by Alex Tostado January 12, 2021

Winter Garden, Fla. — Tiktin Real Estate Investment Services (TREIS) has negotiated the $4.9 million sale of a 4,794-square-foot building leased to 7-Eleven in Winter Garden. The freestanding building is located at 4200 Winter Garden Vineland Road, 16 miles west of downtown Orlando. A Mobil gas station on the property was not included in the sale. Stablewood Properties acquired the property from an entity doing business as 600 East LLC. Adam Tiktin, Alejandro Snyder and Michael Williams of TREIS represented both the seller and buyer in the transaction.

January 12, 2021

Investment sales Minnesota News Retailers

Upland Real Estate Group Brokers $9.1 Million Sale of Tesla Service Center Near St. Paul

by Alex Tostado January 11, 2021

Maplewood, Minn. — Upland Real Estate Group has brokered the $9.1 million sale of a Tesla service center in Maplewood near St. Paul. Tesla occupies the property on a long-term, net-lease basis. Tesla currently operates more than 330 locations worldwide. Keith Sturm, Deborah Vannelli and Amanda Leathers of Upland represented the undisclosed seller. An institutional buyer purchased the asset.

January 11, 2021

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