Lemont, Ill. — First National Realty Partners has acquired Lemont Village Square, a 59,939-square-foot shopping center in Lemont, located about 27 miles southwest of Chicago. The purchase price and seller were undisclosed. The Aldi-anchored property sits at the corner of 127th and State streets. It is 96 percent leased. Other tenants include Starbucks, The Learning Experience, Jimmy Johns, AT&T and Verizon Wireless.
Richmond, Va. — A partnership between Auerbach Funds, Elevation Real Estate Group and Beechmont Acquisitions has acquired Parc Place, an 82,968-square-foot shopping center in Richmond. The sales price was $10.8 million, a discount to its 2016 sales price of $25 million. This marks the second acquisition since Auerbach Funds announced its first close for Auerbach Opportunity Fund III in mid-October. The fund has a target size of $100 million. Parc Place is located at 11736 W. Broad St. in the city’s Short Pump district. The shopping center’s tenant roster includes …
Milford, Conn. — CBRE has negotiated the $4.7 million sale of a 4,596-square-foot retail property in the coastal Connecticut city of Milford. The freestanding property is situated on 2.5 acres at 1651 Boston Post Road and houses a bank branch for JPMorgan Chase. Charles Berger, Elli Klapper and Samuel Bernhaut of CBRE represented the seller, Klein Automotive Parts, in the transaction. The buyer was an undisclosed national REIT.
Buford, Ga. — Marcus & Millichap has arranged the $3.7 million sale of Hamilton Mill Crossings, an 11,722-square-foot retail strip center in Buford. The property was 88 percent leased at the time of the sale to tenants including Starbucks, Viral Vapes, Luxury Nail & Spa and AT&T Store. The asset is situated at 3265 Sardis Church Road, catty-corner from a Walmart Superstore and 40 miles northeast of downtown Atlanta. The undisclosed buyer was completing a 1031 exchange. Marc Irvin and Matthew Welch of Marcus & Millichap represented the undisclosed, Florida-based …
Chicago — Colliers International has brokered the sale of a Walmart Neighborhood Market-anchored shopping center located at 4720 S. Cottage Grove Ave. in Chicago. A private investor purchased the fully leased center for an undisclosed price. Other tenants include Burger King, Subway, Associated Bank and Snipes. Built in 2014, the 54,932-square-foot center is part of a larger development that includes a three-story, 72-unit apartment asset. Alex Perez, Chris Garavaglia and Chris Irwin of Colliers represented the seller, Skilken Gold Real Estate Development. The team also procured the buyer.
Middlesex, N.J. — Marcus & Millichap has brokered the sale of a 20,986-square-foot retail property in Middlesex, about 40 miles southeast of New York City. Alan Cafiero, Brent Hyldahl and Ben Sgambati of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, an individual/personal trust. Both parties requested anonymity.
Santa Rosa, Calif. — SRS Real Estate Partners has arranged the purchase of a retail building located within Santa Rosa Southside Shopping Center in Santa Rosa. DiLorenzo Santa Rosa Real Estate acquired the asset from an undisclosed seller for $6.3 million. Planet Fitness will occupy between 18,000 square feet to 22,000 square feet of the 38,000-square-foot facility. Scott Landgraf, Amber Edwards and Sarah Edwards of SRS Real Estate Partners represented the buyer, while CBRE and Meridian Commercial represented the seller in the transaction.
Germantown, Tenn. — Stan Johnson Co. has arranged the $18.5 million sale of a retail property in Germantown leased to Whole Foods Market. An undisclosed private investor acquired the asset at a 4.6 percent cap rate. The 36,570-square-foot freestanding grocery store is located at 7811 Poplar Ave., 15 miles east of downtown Memphis and near other retailers such as Hobby Lobby, T.J. Maxx, Starbucks and Kroger. The location was delivered in 2015 and is situated on 5.2 acres. Pat Weibel of Stan Johnson Co. represented the seller, a private equity …
Ruston, La. — Marcus & Millichap has negotiated the $11.7 million sale of Ruston Marketplace, a 94,000-square-foot retail center in Ruston. The property was leased to eight tenants at the time of sale, including Hobby Lobby, T.J. Maxx, Ulta Beauty, Five Below and Rack Room Shoes. The seller, Hutton, delivered the asset in June 2019. The property is located at 1208 Woodward Ave., two miles north of downtown Ruston and adjacent to Interstate 20. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller in the transaction. …
Stamford, Conn. — Newmark has negotiated the sale of the 760,000-square-foot Stamford Town Center, an urban mall in the city’s downtown area that was built in 1982 and houses approximately 100 tenants. According to the Stamford Advocate, the sales price was $20.1 million. The sale includes an additional 10 acres and a 3,500-space parking garage. Christian Bangert of Newmark represented the buyer, Yaraghi Realty, a division of family-owned furniture provider Safavieh, in the transaction. Christopher Hoffmann and Steven Livaditis of Eastdil Secured represented the seller, Taubman Centers. Anchor tenants at Stamford …
