Investment sales

Hemet
CaliforniaInvestment salesNews

Progressive Real Estate Negotiates $1.7 Million Sale of Development Site in California

by Julia Sanders

Hemet, Calif. — Progressive Real Estate Partners has negotiated the sale of a 3.3-acre commercial land parcel in Hemet. Sater Hemer LLC acquired the property from an undisclosed seller for $1.7 million. The buyer plans to develop a gas station, car wash and drive-thru restaurant on the site, which is located at the northeast corner of Florida and Soboba avenues. Neither a timeline nor specific development plans have been released. Chris Lindholm of Progressive Real Estate Partners represented both parties in the transaction.

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Tivoli Village
Investment salesNevadaNews

3D Investments Acquires Tivoli Village Mixed-Use Development in Las Vegas for $216 Million

by Julia Sanders

Las Vegas — 3D Investments has purchased Tivoli Village, an open-air, mixed-use property located at 400 S. Rampart Blvd. in Las Vegas. Property and Building Corp. and IDB Group USA sold the center for $216 million. Built in 2009 and 2016, Tivoli Village features 669,406 square feet of Class A office, retail and restaurant space across 28 acres. Additionally, the property includes an 8.3-acre development parcel entitled for more than 300 residential units. Marlene Fujita Winkel of Cushman & Wakefield’s Las Vegas office represented the seller in the deal. Dave …

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shopping center
ColoradoInvestment salesNews

NavPoint Real Estate Brokers Sale of 126,471-Square-Foot Shopping Center in Colorado Springs

by Julia Sanders

Colorado Springs, Colo. — NavPoint Real Estate Group has arranged the sale of Carefree Shopping Center, a retail property located at 3315-3541 N. Academy Blvd. in Colorado Springs. DCP Carefree sold the center to Alturas Real Estate Fund for $15.8 million. At the time of sale, the 126,471-square-foot property was 98 percent occupied by tenants including Family Dollar, Metro PCS, Human Bean Coffee, Pizza Hut and New Horizons Thrift Store. Matt Call and Collin Tedesco of NavPoint Real Estate Group handled the transaction.

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CaliforniaInvestment salesNews

Pine Tree Acquires Shopping Center in Glendale, California for $64 Million

by Julia Sanders

Glendale, Calif. — Pine Tree, in partnership with a U.S. state pension fund, has acquired Glendale Marketplace, a 154,049-square-foot shopping center located in downtown Glendale. An undisclosed seller sold the property for $64 million. JLL Capital Markets brokered the sale. Situated at the intersection of South Brand Boulevard and East Harvard Street, Glendale Marketplace is home to tenants including LA Fitness, HomeGoods, Ross Dress for Less, Five Below, Buffalo Wild Wings and Old Navy.

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FloridaInvestment salesNews

JLL Arranges $13 Million Sale of Shopping Center in Ocala, Florida

by Julia Sanders

Ocala, Fla. — JLL Capital Markets has arranged the $13 million sale of the Boyd Market Center, a 102,066-square-foot retail center in Ocala. Brad Peterson, Whitaker Leonhardt, Michael Brewster and Eric AmRhein of JLL represented the seller, an undisclosed real estate and finance company. V3 Commercial Advisors advised the buyer, V3 Capital Group LLC. Located at 2800 SW 24th Ave., Boyd Market Center was 95.7 percent leased at the time of sale to tenants including Conn’s Home Plus, Plant Fitness, Shoe Carnival, Moe’s Southwest Grill, GameStop and CSL Plasma.

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Investment salesMassachusettsNews

IPA Negotiates Sale of 56,832-Square-Foot Grocery Store in Metro Springfield

by Julia Sanders

Belchertown, Mass. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $14.6 million sale of a 56,832-square-foot retail property occupied by Stop & Shop in Belchertown, roughly 18 miles outside Springfield. The buyer and seller were not disclosed. Jim Koury and Marty Cohan of IPA brokered the deal.

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Lakeside Town Shops
FloridaInvestment salesNews

RK Centers Acquires Retail Property in Davie, Florida for $28.7 Million

by Julia Sanders

Davie, Fla. — RK Centers has acquired Lakeside Town Shops, a 79,746-square-foot retail property in Davie, for $28.7 million. An entity known as Lakeside Town Shops LLC, which is managed by Columbia, South Carolina-based Edens, was the seller. Dennis Carson of CBRE represented the seller and the buyer in the transaction. Lakeside Town Shops features three buildings on 10.3 acres. The property was 98 percent leased at the time of sale to 25 tenants, including Dollar Tree, Ross Dress for Less, Target SuperCenter and Chick-fil-A.

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Warrington Plaza
Investment salesNewsPennsylvania

IPA Arranges $22.5 Million Sale of Shopping Center in Suburban Philadelphia

by Julia Sanders

Warrington, Pa. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $22.5 million sale of Warrington Plaza, an 87,581-square-foot shopping center located in the Philadelphia suburb of Warrington. Brad Nathanson of IPA represented the seller, Valley Forge Investment Corp., and procured the buyer, Realty Resource Capital Corp. Warrington Plaza was fully occupied at the time of sale by tenants including a 35,000-square-foot Avalon Floor & Tile.

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One Nexton
DevelopmentInvestment salesNewsSouth Carolina

Crosland Southeast Buys 23.7 Acres for Publix-Anchored Development in Metro Charleston

by Julia Sanders

Summerville, S.C. — Crosland Southeast has bought 23.7 acres for the first phase of One Nexton, a Publix-anchored mixed-use development in Summerville, roughly 24 miles outside Charleston. Daniel Pellegrino and Seth Clark of Bridge Commercial represented the seller, Brookfield/NASH, in the transaction. Upon completion, the multi-phase project will include 150,000 square feet of shopping and dining space and 351 multifamily units. Charlotte-based Shook Kelley will be the development’s master designer, and Alpharetta, Georgia-based Hiscutt & Associates Inc. is the retail architect for Phase I. Jeff Yurfest of The Shopping Center …

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Crunch Fitness
FloridaInvestment salesNews

SRS Brokers $12.5 Million Sales of Two Crunch Fitness-Occupied Properties in Florida

by Julia Sanders

Cape Coral and Melbourne, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $12.5 million sale of two single-tenant properties occupied by Crunch Fitness in South Florida. The newly developed portfolio includes a 19,200-square-foot property located at 244 Nicholas Parkway West in Cape Coral; and a 19,500-square-foot property located at 4880 N. Wickham Road in Melbourne. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Southeast-based developer, as well as the buyer, a family partnership from South Florida, in the transaction.

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