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Investment sales

Grocery-anchoredIndianaInvestment salesNewsRetailers

Hanley Investment Group Arranges $3.8 Million Sale of Aldi-Occupied Property in Northern Indiana

by Alex Tostado

Mishawaka, Ind. — Hanley Investment Group Real Estate Advisors has arranged the $3.8 million sale of a single-tenant property net leased to Aldi in northern Indiana’s Mishawaka. Originally built in 2007 and remodeled in 2019, the 20,000-square-foot building is located at 210 W. Douglas Road. Jeff Lefko, Bill Asher and Dylan Mallory of Hanley, in association with Midland Atlantic Properties Inc., represented the California-based 1031 exchange buyer. A Florida-based private investor sold the asset. The sales price represents a cap rate of 4.5 percent.

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EntertainmentInvestment salesNewsOhio

VICI Properties Completes Acquisition of JACK Cleveland Casino, Thistledown Racino for $843.3 Million

by Alex Tostado

Cleveland and North Randall, Ohio — VICI Properties Inc. (NYSE: VICI) has completed the acquisition of JACK Cleveland Casino and JACK Thistledown Racino for approximately $843.3 million. The company financed the transaction with cash on hand. JACK Cleveland Casino opened in May 2012 in the historic Higbee Building in downtown Cleveland. The property features approximately 96,000 square feet of gaming space, 1,300 gaming machines, 120 table games and eight food and beverage outlets. The casino is connected to both the 205-room Ritz-Carlton hotel and the 440-room Renaissance hotel. JACK Thistledown …

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CaliforniaInvestment salesNewsRetailers

Partnership Sells The Shops at Todos Santos Plaza in Metro San Francisco

by Alex Tostado

Concord, Calif. — A partnership between Paragon Commercial Group and Long Market Property Partners has completed the disposition of The Shops at Todos Santos Plaza, an entire city block of urban retail located in downtown Concord. Terms of the transaction, including the name of the buyer and acquisition price, were not released. Comprising 15 retail and restaurant tenants, the asset was fully leased to a strong roster of daily needs and restaurant tenants. Nicholas Bicardo, Brandon Rogoff, Forest Gherlone and Mike Zystra of Newmark Knight Frank (NKF) represented the seller …

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Investment salesNewsRetailersWisconsin

Stan Johnson Co. Brokers $36.4 Million Sale of Fleet Farm-Occupied Property in Oconomowoc, Wisconsin

by Alex Tostado

Oconomowoc, Wis. — Stan Johnson Co. has arranged the $36.4 million sale of a big-box retail property fully leased to Fleet Farm in Oconomowoc, about 30 miles west of Milwaukee. The 218,628-square-foot property is located at 1555 Pabst Farms Circle. Constructed in 2018, the building sits within Pabst Farms, a 1,500-acre mixed-use development. Upon full completion, the project will offer residential, retail, office and healthcare space with 360 acres of parks and green space. Tom Fritz, Brandon Duff and Christina Pecoraro of Stan Johnson represented the seller, a Wisconsin-based developer. …

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Investment salesNewsRetailersTexas

Read King Sells 13,070-Square-Foot Miramesa Town Center in Cypress, Texas

by Alex Tostado

Cypress, Texas — Locally based developer Read King Commercial Real Estate has sold Miramesa Town Center, a 13,070-square-foot retail strip center in metro Houston. The property is situated on 1.9 acres in Cypress and was fully leased at the time of sale to tenants such as AT&T, Supercuts and Dogtopia. Ryan West, John Indelli and Ethan Goldberg of JLL represented Read King in the transaction. Michael Johnson and Tolu Akindele of JLL placed a five-year, fixed-rate acquisition loan on behalf of the buyer, an undisclosed private investor.

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FloridaGrocery-anchoredInvestment salesNewsRetailers

JLL Arranges $39.5 Million Sale of Shopping Center in South Florida

by Alex Tostado

Royal Palm Beach, Fla. — JLL has arranged the $39.5 million sale of Coral Sky Plaza, a 232,727-square-foot retail center in Royal Palm Beach. BJ’s Wholesale Club anchors the property, which was 96 percent leased at the time of sale to tenants including Ross Dress for Less, buybuy Baby, Bed Bath & Beyond, Five Below, IHOP and Famous Footwear. The property is located at 510-590 State Road 7, 11 miles west of downtown West Palm Beach. The seller was not disclosed, although multiple media outlets report Claion Partners sold the …

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Grocery-anchoredInvestment salesNew JerseyNewsRetailers

RPC Real Estate, Merion Realty Partners Sell Larchmont Commons in Metro Philadelphia for $18.2 Million

by Alex Tostado

Mount Laurel, N.J. — RPC Real Estate and Merion Realty Partners have sold Larchmont Commons, a 128,172-square-foot retail center in Mount Laurel, a suburb of Philadelphia, for $18.2 million. Anchored by ALDI, Planet Fitness and Dollar Tree, the property was 88 percent leased at the time of sale. Other tenants include Hair Cuttery, The UPS Store and Kumon Learning Center. Chris Munley, James Galbally, Jose Cruz and Colin Behr of JLL represented the sellers in the transaction. Ryan Ade of JLL placed a $12.9 million, fixed-rate acquisition loan through an …

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IndianaInvestment salesNewsRetailers

Regency Properties Purchases 125,582-Square-Foot Shopping Center in Northern Indiana

by Alex Tostado

Kokomo, Ind. — Regency Properties has acquired Boulevard Crossing Shopping Center in Kokomo, about 60 miles north of Indianapolis. The purchase price and seller were undisclosed. The 125,582-square-foot shopping center is located at 2100 E. Boulevard Crossing St. Anchored by TJ Maxx, the property is also home to Petco, Shoe Carnival, Ulta, Kirkland’s and McAlister’s Deli. Regency currently owns 29 shopping centers in the state of Indiana.

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FloridaInvestment salesNewsRetailers

MMG Equity Partners Acquires Two Shopping Centers in Metro Miami for $12.7 Million

by Alex Tostado

Miami — MMG Equity Partners has acquired two retail centers in metro Miami for a total of $12.7 million: Naranja Plaza and Lakeside Plaza. Naranja Plaza was purchased for $7.1 million, or $139 per square foot, in an-off market deal. The shopping center spans 51,246 square feet and is situated at 27000-27100 S. Dixie Highway in Homestead, 29 miles southwest of downtown Miami. The Dollar General-anchored asset was built in 1980 and was fully leased at the time of sale. MMG Equity Partners also acquired Westlake Plaza for $5.6 million, …

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Grocery-anchoredInvestment salesMassachusettsNewsRetailers

Crosspoint Associates Buys 81,702-Square-Foot Amherst Shopping Center in Central Massachusetts

by Alex Tostado

Amherst, Mass. — Metro Boston-based investment firm Crosspoint Associates Inc. has purchased Amherst Shopping Center, an 81,702-square-foot retail asset in the central Massachusetts city of Amherst. Built in 1997 and anchored by Big Y Supermarket and CVS, the property was 97 percent leased at the time of sale. Additional tenants include Dunkin’, Goodwill and Supercuts. Nat Heald and Chris Angelone of JLL represented the undisclosed seller in the transaction. The price was not released.

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