Lincoln, Neb. — Quantum Real Estate Advisors Inc. has arranged the $2.5 million sale of a single-tenant property occupied by Perkins Restaurant & Bakery in Lincoln. The building is located at 7301 Husker Circle. Zack Hilgendorf of Quantum represented the buyer, an Iowa-based private investor. A local developer was the seller.
Phoenix — Marcus & Millichap has brokered the $2.1 million sale of a retail building located at 5349 W. Baseline Road in Phoenix. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, an undisclosed partnership, and procured the buyer, an undisclosed limited liability company, in the deal. O’Reilly Auto Parts occupies the 7,000-square-foot property, which was built in 2006. The tenant recently executed its first five-year renewal option with 10 percent rental increases every five years.
Goodyear, Ariz. — ORION Investment Real Estate has brokered the sale of Central Marketplace, a 62,000-square-foot retail center located in the Phoenix suburb of Goodyear. A California-based seller sold the asset to an undisclosed buyer for $9.8 million in an all-cash transaction. Ari Spiro, Sean Stutzman, Michael Achtman and Jennifer Eggert of ORION brokered the transaction. At the time of sale, the center was 98 percent occupied by tenants including 99 Cents Only.
West Des Moines, Iowa — JRW Realty has arranged the $10 million sale of a 52,227-square-foot, single-tenant property occupied by Hobby Lobby in West Des Moines. Joel Staffilino and Christopher Thompson of JRW Realty arranged the transaction. Matthews Real Estate Investment Services represented the undisclosed seller in the transaction.
Riverton, Utah — Matthews Real Estate Investment Services has arranged the acquisition of a retail property occupied by Walgreens in Riverton, roughly 20 miles outside Salt Lake City. An undisclosed buyer purchased the asset for $8.4 million in a 1031 exchange. Anthony Connell, Preston Schwartz, David Harrington and Chad Kurz of Matthews brokered the transaction.
Gilbert, Ariz. — Newmark has arranged the sale of Centre at Higley-Williams Field, a shopping center located roughly 22 miles outside Phoenix in Gilbert. Bruce Galloway of Higley Evergreen sold the asset to Brandon Sparks of BedTech for $5.3 million. Built in 2004, Centre at Higley-Williams Field features 12,190 square feet of retail space leased to six tenants. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the seller and buyer in the deal.
Chicago — L3 Capital has acquired 1051 N. Rush, a 10,000-square-foot retail property in Chicago’s Gold Coast neighborhood. The purchase price was undisclosed. The two-level asset is fully leased to Vans and Uniform Teeth. Marol Rush was the seller. Keely Polczynski of CBRE brokered the transaction.
Haines City, Fla. — Marcus & Millichap has brokered the $13.8 million sale of Heart of Florida Shopping Center, a 131,501-square-foot retail property located in Haines City, about 23 miles from Lakeland. Tim Giambrone of Marcus & Millichap marketed the property on behalf of the seller, an undisclosed private investor. Giambrone also secured and represented the buyer, another undisclosed private investor. Ryan Nee of Marcus & Millichap assisted in closing the transaction. The property’s tenants include Big Lots, Tractor Supply and Dollar General Market.
Chandler, Ariz. — FAT (Fresh. Authentic. Tasty.) Brands Inc. has agreed to acquire Native Grill & Wings, a Chandler, Arizona-based restaurant chain, for $20 million. The seller was Wingtime LLC, a subsidiary of Cybeck Capital Partners LLC. FAT Brands will fund the acquisition with cash from the issuance of new notes from the company’s securitization facilities. The transaction is expected to close in December. Foley & Lardner LLP acted as legal counsel for FAT Brands, and Taft Stettinius & Hollister LLP acted as legal counsel for Wing Time. FAT Brands …
El Cajon, Calif. — La Maestra Family Clinic has purchased a multi-tenant retail center located at 1242-1248 E. Main St. in El Cajon, roughly 17 miles outside San Diego. Main Street Trust sold the asset for $6.4 million. The buyer plans to convert the vacant, 22,694-square-foot retail center into a community health center. Mike Conger and Brian Jenkins of Commercial Asset Advisors represented the seller, while Keith Edwards of Keller Williams Realty Metro represented the buyer in the deal.
