Investment sales

Shoppes at East Stone
Investment salesNewsTennessee

Marcus & Millichap Arranges Sale of 23,876-Square-Foot Retail Center in Kingsport, Tennessee

by Abby Cox

Kingsport, Tenn. — Marcus & Millichap has arranged the sale of Shoppes at East Stone, a 23,876-square-foot retail center located in Kingsport, a city near the Tennessee-Virginia border. Built in 2011, the property was 95 percent leased at the time of sale to tenants including Jersey Mike’s, Stanton Optical, East Coast Wings + Grill, Lendmark Financial Services, Lumber Liquidators and Polish Nail Bar. Michael J. Early of Marcus & Millichap represented the seller, a Maryland-based family office, in the transaction. Jody McKibben was Marcus & Millichap’s broker of record in Tennessee. 

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Grocery-anchoredInvestment salesNewsVirginia

Cohen & Steers, Philips Edison Acquire Kroger-Anchored Shopping Center in Charlottesville, Virginia

by Abby Cox

Charlottesville, Va. — A joint venture between Cohen & Steers Income Opportunities REIT (CNSREIT) and Philips Edison & Co. (PECO) has acquired Rio Hill Shopping Center, a 288,000-square-foot open-air shopping center located near the University of Virginia (UVA) in Charlottesville. This transaction marks CNSREIT’s third acquisition with PECO and its seventh open-air shopping center. Rio Hill Shopping Center is leased to Kroger and two TJX concepts. The sales price was not disclosed.

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Fabyan Randall Plaza
Grocery-anchoredIllinoisInvestment salesNews

Cushman & Wakefield Negotiates Sale of 91,415-Square-Foot Retail Center in Suburban Chicago

by Abby Cox

Batavia, Ill. — Cushman & Wakefield has negotiated the sale of Fabyan Randall Plaza, a 91,415-square-foot neighborhood retail center located in Batavia, a western suburb of Chicago. Trader Joe’s anchors the property, which features a mix of additional retailers including Sierra Trading Post, Dollar Tree and a freestanding Walgreens. Evan Halkias and David Matheis of Cushman & Wakefield, along with Glenn Rudy of Newmark Pacific, represented the seller, Plano, Texas-based NetCo Investments Inc., in the transaction. The buyer was a private investor.

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Ashford Village Center
Grocery-anchoredInvestment salesNewsTexas

Whitestone REIT Acquires 81,407-Square-Foot Grocery-Anchored Center in Houston

by Abby Cox

Houston — Whitestone REIT has acquired Ashford Village Center, an 81,407-square-foot grocery-anchored, neighborhood shopping center located in Houston. Tenants include Thanjai Mess, Ramen Bar Ichi, Japan House, Dollar Tree, Giggles and Fun, Salon Village and Japanese grocer Seiwa Market, which anchors the property. Ashford Village Center was originally built in 1979 on roughly 7 acres, according to LoopNet Inc. Ashford Village marks Whitestone’s 10th neighborhood shopping center acquisition in Houston.

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Stockbridge Lakes
GeorgiaGrocery-anchoredInvestment salesNews

Colliers Arranges Sale of 78,605-Square-Foot Publix-Anchored Center in Metro Atlanta

by Abby Cox

Stockbridge, Ga. — Colliers has arranged the sale of Stockbridge Lakes, a 78,605-square-foot grocery-anchored shopping center located in Stockbridge, approximately 20 miles south of Atlanta. A 44,000-square-foot Publix anchors the center, which was 88.4 percent occupied at the time of sale. Other tenants include Burn Boot Camp, Great Clips, East Lake Smiles Pediatric Dentistry, Crystal Nails and Domino’s Pizza. Stockbridge Lakes originally opened in 2002 and was renovated in 2018. Scott Israel and Brad Peterson of Colliers Atlanta Retail Investment Sales team represented the seller, Harbour Real Estate Partners, in the …

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Shoppes at Brantley Hall
FloridaInvestment salesNews

Franklin Street Negotiates Sale of 34,460-Square-Foot Retail Center in Metro Orlando, Florida

by Abby Cox

Altamonte Springs, Fla. — Franklin Street has negotiated the sale of Shoppes at Brantley Hall, a 34,460-square-foot unanchored retail center located in Altamonte Springs, roughly 16 miles outside Orlando. Built in 1989, Shoppes at Brantley Hall was 97 percent leased at the time of sale to tenants including Pet Supplies Plus, Orlando Health, Edward Jones and Fiesta Azul Tequila House. Last Mile Investments plans to make upgrades and continue operating the center while “maintaining the asset’s strong tenant mix and stable performance.” Last Mile Investments purchased the property from an entity doing business as …

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385 McLean Blvd.
Investment salesNew JerseyNews

Marcus & Millichap Brokers $5.3 Million Sale of 12,892-Square-Foot Retail Property in Northern New Jersey

by Abby Cox

Paterson, N.J. — Marcus & Millichap has brokered the $5.3 million sale of a 12,892-square-foot retail property located at 385 McLean Blvd. in the northern New Jersey community of Paterson. Bank of America and Wingstop anchor the fully leased center, which features a mix of additional tenants including Krauszer’s, Tony’s Bagels, Mina Place and Crispy Beauty. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer in the transaction.

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The Mall at Fairfield Commons
Investment salesNewsOhio

Spinoso, Kize Capital Acquire The Mall at Fairfield Commons in Metro Dayton, Ohio

by Abby Cox

Beavercreek, Ohio — A joint venture between Spinoso Real Estate Group and Kize Capital has acquired The Mall at Fairfield Commons, a 1 million-square-foot regional shopping center located in Beavercreek, approximately 10 miles east of Dayton. The seller was Washington Prime Group, according to Dayton Daily News. Dillard’s — which is scheduled to open in March 2026 — along with Dick’s House of Sport, JCPenney, Morris Furniture and Round1 anchor The Mall at Fairfield Commons. Additional tenants at the property include American Eagle, H&M, Victoria Secret, Bath & Body Works, Hollister, …

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Rancho Ortega Plaza
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $9.2 Million Sale of Starbucks-Anchored Retail Strip Center in Southern California

by Abby Cox

San Juan Capistrano, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $9.2 million sale of Rancho Ortega Plaza, a 23,122-square-foot retail strip center located in San Juan Capistrano, roughly 55 miles south of Los Angeles. Starbucks Coffee anchors the two-story property, which was 89 percent leased at the time of sale. Other tenants include Tannins Wine Bar & Restaurant, Bella Nails and Ortega Dental Care. Rancho Ortega Plaza was built in 2004 on 2.2 acres. Kevin Fryman and Ed Hanley of Hanley Investment Group represented the seller, an …

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Salisbury Marketplace
Grocery-anchoredInvestment salesNewsNorth Carolina

First National Realty Purchases Food Lion-Anchored Shopping Center in North Carolina

by Abby Cox

Salisbury, N.C. — First National Realty Partners (FNRP) has purchased Salisbury Marketplace, a grocery-anchored shopping center located in Salisbury, about 35 miles outside Charlotte. A 31,762-square-foot Food Lion anchors the property, which also houses Citi Trends, Family Dollar and Cricket Wireless. The property offers 9,300 square feet of contiguous vacancy, according to FNRP. Tom Kolarczyk of JLL represented the undisclosed seller in the transaction. The sales price was also not disclosed.

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