Investment sales

Raising Cane's
CaliforniaInvestment salesNews

SRS Real Estate Partners Negotiates $8.2 Million Sale of Raising Cane’s-Occupied Property in San Bernardino

by Julia Sanders

San Bernardino, Calif. — SRS Real Estate Partners has arranged the sale of a restaurant building located at 1857 S. Tippecanoe Ave. in San Bernardino. An affiliate of Red Mountain Group sold the property to a San Diego-based high-net-worth investor for $8.2 million. Raising Cane’s Chicken Fingers occupies the 4,086-square-foot property, which was built in 2017 on 1.2 acres and has more than 11 years remaining on its absolute triple-net lease. Matthew Mousavi and Patrick Luther of SRS’s National Net Lease Group represented the seller, while Jim Casale of Lee …

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Investment salesNevadaNews

IYK Realty Buys 158,394-Square-Foot Retail Property in Las Vegas for $26.2 Million

by Julia Sanders

Las Vegas — IYK Realty has purchased a retail property in Las Vegas for $26.2 million. Situated within Sahara Pavilion South at 2520-2650 S. Decatur Blvd., the property features 158,394 square feet of retail space. Current tenants include Chase, Chipotle Mexican Grill, Einstein Bros. Bagels and Starbucks Coffee. Additionally, the new, 48,000-square-foot anchor tenant will be a supermarket. Al Twainy and Jennifer Lehr of Colliers represented the buyer in the deal. The name of the seller was not released.

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Investment salesNew YorkNews

Cleeman Realty Negotiates Sale of 97,000-Square-Foot Shopping Center in Syracuse

by Julia Sanders

Syracuse, N.Y. — Cleeman Realty Group has negotiated the $4.2 million sale of Airport Plaza, a 97,000-square-foot shopping center in Syracuse. The property was fully leased at the time of sale. Sam Seelenfreund of Cleeman Realty represented the undisclosed buyer and seller in the off-market transaction.

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21572 Plano Trabuco Road
CaliforniaFaris Lee InvestmentsInvestment salesNews

Faris Lee Arranges $4.2 Million Sale of CVS-Occupied Building in Trabuco Canyon, California

by Julia Sanders

Trabuco Canyon, Calif. — Faris Lee Investments has arranged the sale of a freestanding retail building located in Trabuco Canyon. ValueRock Realty acquired the property from an undisclosed seller for $4.2 million. CVS/pharmacy occupies the property on a triple-net lease basis. Rich Chichester and Don MacLellan of Faris Lee, in partnership with John Cumbelich of Cumbelich & Associates, represented the seller and buyer in transaction.

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59-65 Oak
IllinoisInvestment salesNews

Union Investment Real Estate Purchases Retail Property in Chicago for $120 Million

by Julia Sanders

Chicago — Union Investment Real Estate has purchased 59-65 E. Oak St., a one-block stretch of retail space in Chicago. The purchase price was $120 million, according to Crain’s Chicago Business. The price represents the largest amount paid for any retail asset sold in Chicago since 2016, according to CBRE. Keely Polczynski of CBRE Capital Markets represented both the buyer and the seller, Jenel Real Estate, which acquired two separate parcels in 2016, demolished them and rebuilt a 32,000-square-foot building that now houses high-end retailers Chanel, Van Cleef & Arpels, …

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Investment salesNewsTexas

JLL Negotiates Sale of 93,377-Square-Foot Westside Market Shopping Center in Frisco

by Julia Sanders

Frisco, Texas — JLL has negotiated the sale of Westside Market, a 93,377-square-foot shopping center located in the northern Dallas suburb of Frisco. Built in 2017 and anchored by a Tom Thumb grocery store with a fueling station, the property was fully leased at the time of sale. Other tenants include Subway, Great Clips, Pure Barre, Today’s Vision, Aqua-Tots Swim School and Ideal Smile & Orthodontics. Chris Gerard and Ryan Shore of JLL represented the undisclosed seller in the transaction. Tabani Group purchased the asset for an undisclosed price.

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McDonough West
GeorgiaInvestment salesNews

Halpern Enterprises Acquires 80,773-Square-Foot Retail Property in Metro Atlanta

by Julia Sanders

McDonough, Ga. — Halpern Enterprises Inc. has acquired McDonough West, an 80,773-square-foot shopping center in McDonough, roughly 30 miles southeast of Atlanta. Harbour Retail Partners sold the property for an undisclosed price. Built in 2000, McDonough West was 92 percent leased at the time of sale and anchored by a 30,000-square-foot Goodwill Store and Donation Center. Additional tenants include Planet Fitness, Dollar Tree, Subway and Cato, along with a Delta Community Credit Union located on an outparcel at the front of the property.

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Stadium Trace Village
AlabamaInvestment salesNews

SRS Brokers $13.9 Million Sale of Retail Center in Metro Birmingham

by Julia Sanders

Hoover, Ala. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Stadium Trace Village, a 33,625-square-foot retail center in Hoover. MAP Development sold the property for $13.9 million to Liberty Retail Properties. Boris Shilkrot, Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller. The buyer was self-represented in the transaction. Built in 2019, Stadium Trace Village is shadow-anchored by Aldi, Duluth Trading Co. and UAB Medicine. The center is fully occupied by retailers such as OHenry’s Coffee, Edgar’s Bakery, Mooyah Burgers, Cookie Cutters, …

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Sherwin Williams
Investment salesNewsWisconsin

Stan Johnson Co. Arranges $2.4 Million Sale of Property Net Leased to Sherwin-Williams in Milwaukee

by Julia Sanders

Milwaukee — Stan Johnson Co. has arranged the $2.4 million sale of a 3,500-square-foot retail property net leased to Sherwin-Williams in Milwaukee. The building is located at 1216 S. 1st St. and was constructed in 2018. Blaise Bennett of Stan Johnson represented the seller, a Wisconsin-based developer. A Texas-based private equity group was the buyer. The sales price represents a cap rate of 5.1 percent, a new record for a Sherwin-Williams property in the Midwest, according to Stan Johnson.

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Shops at Cooley Station
ArizonaInvestment salesNews

Phoenix Commercial Advisors Brokers $10 Million Sale of Shops at Cooley Station Near Phoenix

by Julia Sanders

Gilbert, Ariz. — Phoenix Commercial Advisors has negotiated the $10 million sale of Shops at Cooley Station, a 15,912-square-foot retail center located at 4049 E. Williams Field Road in Gilbert, roughly 20 miles outside Phoenix. The property was fully occupied at the time of sale by tenants including Pacific Dental, Wing Stop, F45, Little Caesars, Life Quest and My House. Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal.

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