Investment sales

Hanley Investment Group Arranges $2.7 Million Sale of Bank of America-Occupied Property in Metro Minneapolis

by Alex Tostado April 21, 2020

Brooklyn Center, Minn. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed building occupied by Bank of America in Brooklyn Center, a northern suburb of Minneapolis, for $2.7 million. The 4,370-square-foot property, which opened in late 2019, is situated on one acre at 2545 County Road 10. Jeff Lefko and Bill Asher of Hanley represented the seller and developer, Minneapolis-based Told Development. Carlos Aguilar of Axia Real Estate Group represented the New Jersey-based private buyer.

April 21, 2020

Florida Investment sales News Retailers

SRS Brokers $3.2 Million Sale of Shoppes at Veranda Park in Orlando

by Alex Tostado April 20, 2020

Orlando, Fla. — SRS Investment Properties Group has brokered the $3.2 million sale of Shoppes at Veranda Park, the ground-floor retail portion of a four-story condominium building in Orlando. Shoppes at Veranda Park houses eight retail tenants spanning 17,603 square feet. At the time of sale, the property was fully leased to tenants including Rhythm Dance Academy, Goodwill, Axianta Financial Partners, Filutowski Eye Institute, Gemini Hookah Lounge, Easy Work Space, Alora Health Spa and Caterings Best. The property is located at 2295 S. Hiawassee Road, nine miles west of downtown …

April 20, 2020

Investment sales News Oregon Retailers

Neville & Butler Commercial Brokers Sale of 47,000-Square-Foot Former Toys ‘R’ Us in Salem, Oregon

by Alex Tostado April 15, 2020

Salem, Ore. — Neville & Butler Commercial Real Estate has brokered the sale of a retail building located in Salem. Raider Hill Advisors sold the asset for an undisclosed price. Located at 1200 Lancaster Drive NE, the former Toys “R” Us property features 47,000 square feet of retail space. Steven Neville and Natalie Butler of Neville & Butler Commercial Real Estate represented the seller in the deal. The name of the buyer was not released.

April 15, 2020

Georgia Grocery-anchored Investment sales News Retailers

JLL Negotiates Sale of Publix-Anchored Shopping Center Near Atlanta

by Alex Tostado April 15, 2020

Lilburn, Ga. — JLL has arranged the sale of Five Forks Corner, an 88,646-square-foot, Publix-anchored shopping center in Lilburn. The property was 89 percent leased at the time of sale to tenants including Pak Mail, Marco’s Pizza, Fitness 19, Mathnasium, Farmers Insurance, Sun City Tanning and Lush Nail Spa. The shopping center is situated at 4045 Five Forks Trickum Road SW, 24 miles northeast of downtown Atlanta in Gwinnett County. Jim Hamilton, Brad Buchanan and Mike Allison of JLL represented the seller, DLC Management Corp., in the transaction. Atlanta-based Branch …

April 15, 2020

Florida Investment sales News Retailers

Marcus & Millichap Arranges $9.8 Million Sale of Retail Center, Outparcel in Florida’s Panhandle

by Alex Tostado April 15, 2020

Fort Walton Beach, Fla. — Marcus & Millichap has arranged the sale of Choctaw Plaza, a 93,650-square-foot retail center in Fort Walton Beach, as well as an outparcel property that is triple-net-leased to Compass Bank. The properties sold for a combined $9.8 million to different buyers. A private personal trust acquired Choctaw Plaza, located at 111 Racetrack Road NW, four miles north of downtown Fort Walton Beach. A Big Lots anchors the property, which was 89 percent leased at the time of sale to tenants including Dollar General, Rent-A-Center, Coldwell …

April 15, 2020

Grocery-anchored Investment sales New Jersey News Retailers

Cushman & Wakefield Brokers $22.6 Million Sale of Grocery-Anchored Shopping Center in Denville, New Jersey

by Alex Tostado April 7, 2020

Denville, N.J. — Cushman & Wakefield has brokered the $22.6 million sale of Denville Commons, a 73,000-square-foot, grocery-anchored shopping center in Denville, a northwestern suburb of New York City. Located at 3130 Route 10, the property is anchored by Corrado’s Market and was 90 percent leased at the time of the sale to 16 tenants including Goldfish Swim School and Orangetheory Fitness. Andrew Merin, David Bernhaut and Gary Gabriel led a Cushman & Wakefield team that represented the seller, Denville Commons Associates LP. The team also procured the buyer, Longpoint …

April 7, 2020

Investment sales Leasing News Retailers South Carolina

Colliers Arranges $13.9 Million Sale-Leaseback of Walmart in Sumter, South Carolina

by Alex Tostado April 7, 2020

Sumter, S.C. — Colliers International has arranged the $13.9 million sale-leaseback of a triple-net leased, Walmart Neighborhood Market-occupied property in Sumter. Hutton Development developed and sold the 41,990-square-foot building, which is situated at 343 Pinewood Road, three miles south of downtown Sumter and 40 miles east of downtown Columbia. Walmart signed a new 13-year lease with the new owner, an undisclosed private investor based in Florida completing a 1031 exchange. Jereme Snyder of Colliers represented the seller in the transaction.

April 7, 2020

California Investment sales News Retailers

SunCoast Properties Sells Ground Lease of Chase Bank-Occupied Asset in Anaheim for $5.1 Million

by Alex Tostado April 2, 2020

Anaheim, Calif. — SunCoast Properties has completed the disposition of the ground lease of a newly constructed, freestanding retail building located at 545 N. Euclid St. in Anaheim. A Los Angeles-based private investor acquired the asset for $5.1 million. Chase Bank occupies the 3,988-square-foot, single-tenant property with a corporate-guaranteed, triple-net, 20-year lease. SunCoast developed the property, which opened earlier this year. Pat Kent, Patrick Luther, Matthew Mousavi and Parker Walter of SRS Real Estate Partners’ National Net Lease Group represented the seller, while Bill Asher and Jeff Lefko of Hanley …

April 2, 2020

Investment sales News Retailers South Carolina

TSCG Negotiates $17.1 Million Sale of Retail Center in North Charleston

by Alex Tostado April 1, 2020

North Charleston, S.C. — TSCG has negotiated the $17.1 million sale of The Shoppes at Centre Pointe, a 139,688-square-foot retail center in North Charleston. Ashley Home Furniture, Dollar Tree and Staples anchor the center, which was 98 percent leased at the time of sale. Other tenants include Dunkin’, Sally Beauty, GameStop and Cici’s Pizza. The property is situated at 4950 Centre Pointe Drive, 11 miles north of downtown Charleston. Anthony Blanco and Jeff Yurfest of TSCG represented the seller, an undisclosed investor based in Atlanta, in the transaction. The buyer …

April 1, 2020

Investment sales News Retailers Texas

Wellington Realty Brokers Sale of 54,250-Square-Foot Ridge Road Towne Center in Rockwall, Texas

by Alex Tostado April 1, 2020

Rockwall, Texas — Wellington Realty has brokered the sale of Ridge Road Towne Center, a 54,250-square-foot neighborhood shopping center in Rockwall, a northeastern suburb of Dallas. The property was built in 2005 and was 74 percent leased at the time of sale. David Shaffer, Caleb Jones, Curtis Sung, Tammy Shaffer and Brandon Johnson of Wellington Realty represented the seller in the transaction. Additional terms of sale were not disclosed.

April 1, 2020

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