Investment sales

Vestar Acquires Six-Property Retail Portfolio in Metro Seattle for $95 Million

by Alex Tostado January 6, 2020

Lynnwood, Wash. — Vestar has acquired a six-property, 297,599-square-foot retail portfolio in Lynnwood for $95 million. The six properties are Alderwood Parkway Place, Alderwood Parkway Plaza, Alderwood Parkway Plaza II, Golde Creek Plaza, Golde Creek Plaza II and Golde Creek Plaza III, which are located at the northeast and northwest corners near Alderwood Mall Parkway and 196th Street SW, near Alderwood Mall and 17 miles north of downtown Seattle. The seller was the original developer of the properties, which were built between 1997 and 2002. The portfolio is fully leased …

January 6, 2020

Idaho Investment sales News Retailers

Geronimo Divests of Two-Property Retail Asset in Idaho for $50.9 Million

by Alex Tostado January 6, 2020

Twin Falls, Idaho — Geronimo has completed the sale of Canyon Park East and Canyon Park West, a two-property retail asset located in Twin Falls. Wood Investments Cos. acquired the asset for $50.9 million. Located at 2068 Bridgeview Blvd. and 1945 Fillmore St., the properties were 100 percent leased at the time of sale. Current tenants include Ross Dress for Less, Ulta Beauty, Bed Bath & Beyond, Petco, Dick’s Sporting Goods, HomeGoods, TJ Maxx, Best Buy, Michaels, Sportsman’s Warehouse and Famous Footwear. Paul Sleeth, Billy Sleeth and Patrick Allen of …

January 6, 2020

Colorado Grocery-anchored Investment sales News Retailers

Boulder Group Negotiates $14.7 Million Sale of Net-Leased Safeway in Metro Denver

by Alex Tostado January 6, 2020

Lone Tree, Colo. — The Boulder Group has negotiated the $14.7 million sale of a single-tenant property net leased to Safeway in Lone Tree. The 55,650-square-foot building is located at 9229 Lincoln Ave. along Interstate 25, 17 miles south of downtown Denver. Thee undisclosed buyer is completing a 1031 exchange while the undisclosed seller is a private REIT. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller in the transaction. Albertsons Co. guarantees Safeway’s lease.

January 6, 2020

Investment sales Nevada News Retailers

Passco Sells Silver City Plaza Retail Center on Las Vegas Strip for $59.2 Million

by Alex Tostado January 3, 2020

Las Vegas — California-based Passco Cos. has completed the disposition of Silver City Plaza, a retail center situated on the northern end of the Las Vegas Strip. Regal Acquisition acquired the property for $59.2 million. Located at 3001 S. Las Vegas Blvd., Silver City Plaza features 41,583 square feet of retail space. Current tenants include Ross Dress for Less, Walgreens, Denny’s and 7-Eleven. Rob Ippolito and Frank Volk of Newmark Knight Frank represented the seller in the transaction.

January 3, 2020

Investment sales News Retailers Virginia

Divaris Brokers $21.8 Million Sale of Colonnades West Shopping Center Near Richmond

by Alex Tostado January 3, 2020

Glen Allen, Va. — Virginia Beach-based Divaris Real Estate Inc. has brokered the $21.8 million sale of the Colonnades West shopping center located at 10931 W. Broad St. in Glen Allen. Quebec-based Colterra Capital Corp. purchased 136,082-square-foot shopping center situated 11 miles northwest of Richmond from Los Angeles-based PF Colonnades Corp. Read Goode and Cheryle Toy of Divaris represented the seller in the transaction. Located on 14.7 acres at the southwest corner of West Broad Street and Cox Road, the shopping center is located near Richmond’s Short Pump neighborhood and …

January 3, 2020

California Finance Grocery-anchored Investment sales News Retailers

GRI Fairmont Receives $19.6 Million Loan for Acquisition of Fairmont Shopping Center in Bay Area

by Alex Tostado January 3, 2020

Pacifica, Calif. — GRI Fairmont LLC, an affiliate of First Washington Realty Inc., has received $19.6 million in financing for the acquisition of Fairmont Shopping Center, a retail asset located in Pacifica. The property is situated on 7.5 acres at 705-799 Hickey Blvd. Greg Brown, John Marshall and Bercut Smith of JLL Capital Markets secured the 10-year, fixed-rate loan with PGIM Real Estate Finance for the borrower. Anchored by Safeway, the 102,982-square-foot property was 96 percent leased at the time of sale. Current tenants include Rite Aid, Dollar Tree, Supercuts, …

January 3, 2020

Illinois Investment sales News Retailers

Quantum Brokers $11 Million Sale of Shopping Center in Melrose Park, Illinois

by Alex Tostado January 3, 2020

Melrose Park, Ill. — Quantum Real Estate Advisors Inc. has brokered the $11 million sale of a 138,203-square-foot shopping center in Melrose Park, Illinois, a western suburb of Chicago. The multi-tenant property is located at 1901-2029 N. Mannheim Road. Anchor tenants include dd’s Discounts and Planet Fitness. Chad Firsel and Jason Lenhoff of Quantum represented the seller, a local property owner from Chicago. A New York-based private real estate investor purchased the asset.

January 3, 2020

Development Investment sales Malls Michigan News Retailers

Out of the Box Ventures Acquires Lakeside Mall in Michigan, Plans to Bring in New Uses

by Alex Tostado December 26, 2019

Sterling Heights, Mich. — Out of the Box Ventures, a subsidiary of Miami-based Lionheart Capital, has acquired Lakeside Mall in Sterling Heights. The purchase price was $26.5 million, according to Crain’s Detroit Business. Out of the Box Ventures plans to incorporate new uses to the property other than retail but has not disclosed specific plans. The buyer acquired the mall after General Growth Properties Inc. defaulted on its $144 million mortgage loan. Lakeside Mall is the largest mall in the state of Michigan with more than 1.5 million square feet. It …

December 26, 2019

Investment sales Missouri News Retailers

JLL Arranges Sale of 86,931-Square-Foot Retail Center in Suburban St. Louis

by Alex Tostado December 26, 2019

Fenton, Mo. — JLL has arranged the sale of Gravois Place in Fenton, about 20 miles southwest of downtown St. Louis, for an undisclosed price. The 86,931-square-foot retail center is fully leased and anchored by Gold’s Gym. Situated at 635 Gravois Road, the property is also home to SkyZone Trampoline Park and St. Vincent DePaul. Aaron Johnson, Chris Murphy, Ross Crawford and Danny Kaufman of JLL marketed the property on behalf of the seller, RBR Real Estate Holdings LLC. Mark Sher of KW Commercial represented the undisclosed buyer.

December 26, 2019

Grocery-anchored Investment sales News Ohio Retailers

Broder & Sachse Acquires 70,366-Square-Foot Shopping Center in Hilliard, Ohio

by Alex Tostado December 26, 2019

Hilliard, Ohio — Broder & Sachse Real Estate has acquired The Shoppes at Haydens Crossing in Hilliard, a suburb of Columbus. Located at 6700 Hayden Run Blvd., the 70,366-square-foot shopping center is anchored by Giant Eagle. Other tenants include Get Go Café + Market, Marco’s Pizza, Great Clips, Hayden Run Dentistry and Free to Be Me Salon. There is one retail space currently available for lease. Ben Wineman and Amy Holter of Mid-America Real Estate Corp. represented the seller, Pittsburgh-based ECHO Realty. The purchase price was undisclosed.

December 26, 2019

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