Lakewood, Colo. — Blue West Capital has arranged the sale of a 42,755-square-foot multi-tenant retail center located at 10750 West Colfax Ave. in Lakewood, roughly seven miles west of downtown Denver. Tom Ethington of Blue West Capital represented the seller, a Colorado-based private real estate company. The buyer was a California-based investor. 10750 West Colfax Ave. was fully leased at the time of sale to tenants including Harbor Freight Tools, JoAnn Fabric and Guitar Center.
Braintree, Mass. — Sterling Organization has purchased Tedeschi Plaza, a 174,344-square-foot retail center in the southern Boston suburb of Braintree, for $44.3 million. A 66,124-square-foot Stop & Shop grocery store anchors the property. Additional tenants include CVS/pharmacy, Crunch Fitness, Sherwin Williams, Dunkin’ and Citizens Bank. JLL represented the seller, Black Creek Group, in the transaction.
Tulsa, Okla. — First National Realty Partners has purchased Summit Square Shopping Center, a 166,552-square-foot retail power center in Tulsa. A 66,455-square-foot Reasor’s Supermarket anchors the property, which was 96 percent leased at the time of sale. Margaret Caldwell, Gill Warner and Patrick Kelley of Stan Johnson Co. represented the undisclosed seller in the transaction. The price was not disclosed.
Phoenix — Orion Investment Real Estate has arranged the purchase of a retail property located at the northwest corner of 53rd Avenue and Bell Road in Phoenix. Corridor Living LLC acquired the building from McLean Holdings for $3.1 million. Four tenants fully occupied the 8,318-square-foot property at the time of sale, including Crazy Mike’s Subs, Music & Art, Gravitate and Oscar’s Taco Shop. Nick Miner of Orion represented the buyer, while Danny Gardiner and Chad Tiedeman of PCA represented the seller in the deal.
Vista, Calif. — Black Lion Investment Group has completed the sale of Vista Terrace Marketplace, a retail strip center in the San Diego County community of Vista. A real estate fund advised by Crow Holdings Capital acquired the property for $13.3 million. The 28,440-square-foot center was 91 percent occupied at the time of sale by tenants including Anytime Fitness, Discovery Preschool, Sports Clips, Jersey Mike’s Subs, Pacific Dental, Upper Crust Pizza and Bombay Café. Daniel Tyner and Gleb Lvovich of JLL Retail Capital Markets represented the seller in the deal.
Coppell, Texas — Disney Investment Group (DIG) has arranged the sale of Valley Ranch Centre, a 111,211-square-foot retail property in Coppell, located in the northern-central part of the metroplex. Anchored by Club 4 Fitness and Dollar Tree, Valley Ranch Centre was built on 11.6 acres in 1989 and was roughly 75 percent leased at the time of sale. David Disney and Adam Crockett of DIG exclusively represented the undisclosed seller and procured the out-of-state buyer in the transaction.
Dallas and McKinney, Texas — Baceline Group has acquired two shopping centers totaling 78,311 square feet in the Dallas area. The properties include the 53,948-square-foot Preston Lloyd Shopping Center, located at 19009 Preston Road in Dallas; and the 24,363-square-foot Orchid Centre, located at 4150 Eldorado Parkway in the northern Dallas suburb of McKinney. Baceline Group acquired the assets as part of a portfolio that included a 26,442-square-foot center in Montgomery, Ohio. The seller was not disclosed.
Santa Rosa, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $8 million sale of a newly constructed, single-tenant property located at 136 College Ave. in Santa Rosa. Jeremy McChesney of Hanley represented the seller, California Capital Group, while Chris Fenolio of Weller Partners represented the buyer, an El Dorado Hills, California-based private investor, in the transaction. A 7-Eleven with a gas station occupies the 2,988-square-foot property on a net-lease basis.
Fishers, Ind. — Midland Atlantic Properties has arranged the $7.5 million sale of Fishers Corner shopping center in the Indianapolis suburb of Fishers. The 28,359-square-foot property was built in 2005 and was fully leased at the time of sale. Jacque Haynes of Midland Atlantic represented the seller, Sena Realty FC LLC. Johnny Vassallo managed the acquisition on behalf of the buyer, POG Kosmos Fishers LP. First Financial Bank provided acquisition financing.
New York City — American Finance Trust Inc. (NASDAQ: AFIN) has entered into a definitive agreement to acquire a portfolio of 81 retail centers from CIM Real Estate Finance Trust, a REIT managed by Los Angeles-based CIM Group. The transaction is valued at $1.32 billion. The 9.5 million-square-foot portfolio comprises power retail and grocery-anchored shopping centers, as well as two single-tenant properties. The weighted average lease term of the portfolio is five years, according to CIM. The names and locations of the retail properties were not disclosed. The transaction price comprises primarily …
