Investment sales

Marcus & Millichap Negotiates $9 Million Sale of Walgreens-Occupied Retail Asset in Tempe, Arizona

by Alex Tostado May 21, 2020

Tempe, Ariz. — Marcus & Millichap has arranged the sale of a retail property located at 2000 S. Mill Ave. in Tempe. A limited liability company sold the property to an undisclosed buyer for $9 million. Walgreens occupies the building on an absolute triple-net corporate lease with 14 years remaining on the term. The property is located two miles from downtown Tempe and near to Arizona State University’s Tempe campus. Mark Ruble, Chris Lind and Jamie Medress of Marcus & Millichap represented the seller in the deal.

May 21, 2020

California Investment sales News Retailers

Hanley Investment Group Brokers $4 Million Sale of Two-Tenant Retail Asset in Southern California

by Alex Tostado May 21, 2020

Ontario, Calif. — Hanley Investment Group Real Estate Advisors has directed the sale of a two-tenant retail pad building located at 961 N. Milliken Ave. in Ontario, approximately 35 miles east of downtown Los Angeles. The price was $4 million. Built in 2002, the building features 6,300 square feet of retail space. Assure Dental occupies 3,500 square feet of the property, while Verizon Wireless occupies the remaining 2,800 square feet. Sam’s Club at The Marketplace at Ontario Center shadow anchors the property. Matt Burnett of Hanley Investment Group represented the …

May 21, 2020

Georgia Investment sales News

Marcus & Millichap Arranges $2.4 Million Sale of Wells Fargo-Occupied Retail Property in Metro Atlanta

by Alex Tostado May 20, 2020

Peachtree Corners, Ga. — Marcus & Millichap has arranged the $2.4 million sale of a retail property leased to Wells Fargo in Peachtree Corners. The 10,851-square-foot building was built in 1968 and is triple-net-leased to the bank. The asset is situated at 6155 Buford Highway, 17 miles northeast of downtown Atlanta. Don McMinn of Marcus & Millichap’s Taylor McMinn Group represented both the seller, Linkpoint Properties, and the buyer, Matthews Family Investments LLC, in the 1031 transaction. Linkpoint originally purchased the asset in November 2017 for a little over $2 …

May 20, 2020

Grocery-anchored Investment sales Missouri News Retailers

Community Builders of Kansas City Acquires Grocery-Anchored Center in Kansas City

by Alex Tostado May 19, 2020

Kansas City, Mo. — Community Builders of Kansas City (CBKC) has acquired the Sun Fresh on Blue Parkway for an undisclosed price. The grocery-anchored retail center is situated east of Prospect Avenue in Kansas City. CBKC established Blue Parkway Grocers LLC as a for-profit entity to operate the store. The current operator is retiring. The center, which is more than 90 percent leased, is part of a larger real estate and asset management portfolio owned by CBKC that consists of 700 residential units and 200,000 square feet of commercial and …

May 19, 2020

Grocery-anchored Investment sales New York News Retailers

Colliers Arranges Sale of 36,360-Square-Foot Grocery Store Leased to Price Rite in Syracuse

by Alex Tostado May 19, 2020

Syracuse, N.Y. — Colliers International has arranged the $7.9 million sale of a 36,360-square-foot grocery store in Syracuse. Located at 1625 Erie Blvd., the single-tenant property was fully leased to New Jersey-based grocer PriceRite at the time of sale. El Warner of Colliers represented the seller, Syracuse Grocery ST LLC, in the transaction. Warner also represented the buyer, Agree Stores LLC.

May 19, 2020

California Grocery-anchored Investment sales Net lease News

Marcus & Millichap Negotiates $22.1 Million Sale of Alberstons-Occupied Retail Asset in San Diego

by Alex Tostado May 18, 2020

San Diego — The Mansour Group of Marcus & Millichap has arranged the sale of a single-tenant retail condominium located at 655 14th St. in downtown San Diego. A Los Angeles-based private investor acquired the asset from a San Diego-based ownership group for $22.1 million. Albertsons grocery store occupies the 43,000-square-foot property on a long-term, triple-net lease basis. Alvin Mansour and Kevin Mansour of Marcus & Millichap’s The Mansour Group, along with Pasquale Ioele and Michael Burton of Flocke & Avoyer represented the seller in the deal.

May 18, 2020

California Investment sales News Retailers

Matthews Negotiates Sale of Recently Vacated 104,980-Square-Foot Retail Lot in Costa Mesa

by Alex Tostado May 14, 2020

Costa Mesa, Calif. — Matthews Real Estate Investment Services has brokered the sale of a recently vacated retail property located at 2666 Harbor Blvd. in Costa Mesa. Red Mountain Retail Group, a real estate developer, acquired the asset from a private family for an undisclosed price. Ace Hardware formerly occupied the 104,980-square-foot lot, located at the southwest corner of Harbor Boulevard and Mesa Verde Drive. Ace vacated the property when its lease expired on April 30. Additionally, there was a sublease in place with an auto dealer that expired with …

May 14, 2020

California Investment sales News Retailers

Marcus & Millichap Arranges $6.2 Million Sale of North Hills Retail Portfolio in Los Angeles

by Alex Tostado May 14, 2020

Los Angeles — Marcus & Millichap has brokered the sale of a two-property retail asset located in Los Angeles’ North Hills neighborhood. A limited liability company sold the portfolio to a partnership for $6.2 million. The asset consists of two adjacent parcels featuring 7,835 square feet of building space and 52,260 square feet of commercial-zoned land. According to Marcus & Millichap, the sales price represents a market-leading price per square foot of $798 for the existing structures and $120 per square feet for the land. Brandon Michaels, Steven Schechter and …

May 14, 2020

Investment sales News Pennsylvania Retailers

Colliers Brokers $4.5 Million Sale of Shopping Center in Bethlehem, Pennsylvania

by Alex Tostado May 14, 2020

Bethlehem, Pa. — Colliers International has brokered the $4.5 million sale of Bethlehem Village Shoppes, a 31,450-square-foot retail center in Bethlehem, an eastern suburb of Allentown. At the time of sale, tenants included the Northampton County Court of Common Pleas, H&R Block and several restaurants. Jeff Algatt, Derek Zerfass and Scott Horner represented the seller, a locally based private investor, in the transaction. W.C. Weiss of Equis Commercial Real Estate represented the undisclosed buyer. QNB Bank provided acquisition financing.

May 14, 2020

Illinois Investment sales News Restaurants Retailers

Historic Restaurant Property in Chicago’s Lincoln Square Sells for $3.1 Million

by Alex Tostado May 14, 2020

Chicago — SVN Chicago Commercial has arranged the sale of the Chicago BrauHaus restaurant property for $3.1 million. The historic building is located at 4732 N. Lincoln Ave. within Chicago’s Lincoln Square. Tim Rasmussen and Marcus Sullivan of SVN represented the buyer, GW Properties. Matt Feo of Essex Realty Group represented the sellers, Harry and Guenter Kempf, who are longtime owners of the Chicago BrauHaus. The restaurant closed in late 2017 after 52 years.

May 14, 2020

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