Investment sales

1st Street
IllinoisInvestment salesNews

Colliers Arranges Sale of Mixed-Use Development Near Chicago

by Julia Sanders

St. Charles, Ill. — Colliers Chicago has arranged the sale of 1st Street Development, a mixed-use development in the heart of St. Charles, about 40 miles west of Chicago. The five-building asset consists of retail, office and residential space. The properties include: The Plaza, a two-story retail and office building; Ale Building, a four-story office and retail asset; River Loft, a five-story office, retail and condo property; Sterling Building, a five-story office and condo building; and Building 7A, a three-story retail and residential asset. The property was 97 percent leased …

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IllinoisInvestment salesNews

Marcus & Millichap Brokers $8 Million Sale of Valli Produce-Occupied Property in Metro Chicago

by Julia Sanders

Hoffman Estates, Ill. — Marcus & Millichap has brokered the $8 million sale of a 61,047-square-foot retail property net leased to grocer Valli Produce in Hoffman Estates. The building is located about 30 miles northwest of Chicago at 850 N. Roselle Road. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local private investor. The Florida-based buyer completed a 1031 exchange. Brian Stulak of Marcus & Millichap Capital Corp. arranged acquisition financing on behalf of the buyer. Valli Produce recently signed a 10-year lease …

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Champaign Town Center
IllinoisInvestment salesNews

Quantum Negotiates $4.3 Million Sale of Retail Center in Champaign, Illinois

by Julia Sanders

Champaign, Ill. — Quantum Real Estate Advisors Inc. has negotiated the $4.3 million sale of a 24,454-square-foot retail center in Champaign. Located at 2012-2032 N. Prospect Ave., the property is home to tenants including David’s Bridal, America’s Best Eyewear, Little Caesars Pizza and Sally Beauty. Chad Firsel and Jason Lenhoff of Quantum represented the seller, Core Acquisitions LLC. A private real estate investor was the buyer.

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Colonial Square
Investment salesNewsVirginia

United Hampshire Acquires Grocery-Anchored Shopping Center in Suburban Richmond

by Julia Sanders

Colonial Heights, Va. — United Hampshire US REIT has acquired Colonial Square, a 168,326-square-foot grocery-anchored shopping center located at 3107 Blvd. in Colonial Heights, a suburb of Richmond. Located off Interstate 95, Colonial Square was 99 percent leased at the time of sale to tenants including Publix, Locke Supply Co., Wells Fargo and Dollar General. Jordan Lex, Daniel Naughton and Bill Moylan of JLL represented the seller, Colonial Square Associates.

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CaliforniaInvestment salesNews

Barret Woods & OERP Purchases Shopping Center in Southern California for $47.4 Million

by Julia Sanders

Corona, Calif. — Barret Woods & OERP LLC has purchased The Shops at Dos Lagos, a lifestyle shopping center in Corona, for $47.4 million. Built in 2006, the center offers 351,200 square feet of retail space on 47.4 acres with four in-line shop buildings, four ground-leased restaurant pads, a 15-screen movie theater and a 7,000-square-foot pad available for lease or development. Current tenants include Trader Joe’s, Express, Sunglass Hut, Bath & Body Works, Daniel’s Jewelers, Sleep Number, Papaya, Fatburger, Pinkberry, Miguel’s California Mexican Cocina, Woodranch BBQ & Grill, RA Sushi, …

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Market Plaza
IllinoisInvestment salesNews

JLL Brokers $30.2 Million Sale of Suburban Chicago Retail Center

by Julia Sanders

Glen Ellyn, Ill. — JLL Capital Markets has brokered the $30.2 million sale of Market Plaza in the Chicago suburb of Glen Ellyn. Jewel-Osco anchors the 166,572-square-foot retail center. Built in 1965 and renovated in 2009, Market Plaza is home to tenants such as Ross Dress for Less, Dollar Tree, Staples, Sherwin-Williams, Sweet Basil, H&R Block, Royal Nail and Spa and Goldfish Swim School. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented the seller, RPT Realty. North American Real Estate Group was the buyer.

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ConnecticutInvestment salesNews

CBRE Negotiates $11 Million Sale of Milford Plaza Shopping Center in Connecticut

by Julia Sanders

Milford, Conn. — CBRE has negotiated the $11 million sale of Milford Plaza, a 180,315-square-foot shopping center located in the southern coastal city of Milford. Anchored by G-Mart, the property was 65 percent leased at the time of sale to tenants including Planet Fitness, Dollar Tree and Hartford Healthcare. Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer and Travis Langer of CBRE represented the owner, The Hampshire Cos., in the transaction. The team also procured the buyer, Northpath Investments.

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South-Hills-Mall-Plaza
Investment salesNewsNorth Carolina

JLL Arranges $38.4 Million Sale of 365,000-Square-Foot Retail Center in Metro Raleigh

by Katie Sloan

Cary, N.C. — JLL Capital Markets has arranged the sale of South Hills Mall & Plaza, a 365,000-square-foot retail center in the Raleigh-area community of Cary. Sarah Godwin, Thomas Kolarczyk and Matt Winters of JLL represented the seller, an entity known as South Hills Shopping Center Inc. An affiliate of Northpond Partners acquired the property for $38.4 million. South Hills Mall & Plaza was 99 percent leased at the time of sale to tenants such as Northern Tool and Equipment, Roses, Tuesday Morning, Grand Asia Market, Anchor Auto Outlet, Mitchells Academy, Déjà Vu Furniture, NC …

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Arbor-Square
GeorgiaInvestment salesNews

Joint Venture Sells Arbor Square Shopping Center in Metro Atlanta for $18.4 Million

by Katie Sloan

Douglasville, Ga. — A joint venture between Connolly and Coro Realty has sold Arbor Square, a 127,195-square-foot shopping center located roughly 23 miles outside Atlanta in Douglasville. ALTO Real Estate Funds purchased the property for $18.4 million. Mark Joines and Drew Fleming of Newmark arranged the sale. Developed by Connolly in 1977, Arbor Square was fully renovated in 2018 and was 97 percent occupied at the time of sale by tenants such as Burlington, HomeGoods, Skechers, Starbucks Coffee, Five Guys and Del Taco.

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963-Houston-Northcutt
Investment salesNewsSouth Carolina

Cushman & Wakefield Brokers $14.3 Million Sale of Movie Theater Property in Metro Charleston

by Katie Sloan

Mount Pleasant, S.C. — Cushman & Wakefield has brokered the $14.3 million sale of a 33,000-square-foot property formerly occupied by Regal Cinemas in Mount Pleasant, about 9.5 miles from Charleston. Nick Tanana and Brady Dashiell of Cushman & Wakefield represented the seller, Regal Cinemas, in the disposition of the property to Collett Capital. The site was marketed as a redevelopment opportunity.

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