Investment sales

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

by Alex Tostado January 24, 2020

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 …

January 24, 2020

Grocery-anchored Investment sales New Jersey News Retailers

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

by Alex Tostado January 24, 2020

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 …

January 24, 2020

Indiana Investment sales News Retailers

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

by Alex Tostado January 24, 2020

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.

January 24, 2020

Florida Investment sales News Retailers

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

by Alex Tostado January 24, 2020

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, …

January 24, 2020

Grocery-anchored Investment sales Massachusetts News Retailers

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

by Alex Tostado January 24, 2020

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.

January 24, 2020

Investment sales News Retailers Texas

JLL Negotiates Sale of 180,522-Square-Foot Marketplace at Towne Center in Metro Dallas

by Alex Tostado January 22, 2020

Mesquite, Texas — JLL has negotiated the sale of Marketplace at Towne Center, a 180,522-square-foot retail center located in the eastern Dallas suburb of Mesquite. Built on 20.5 acres at the corner of U.S. Highway 80 and the Lyndon Johnson Freeway, the property houses tenants such as PetSmart, Ross Dress for Less, Old Navy, Dress Barn, Five Below, Famous Footwear and Applebee’s. Barry Brown, Chris Gerard, Ryan Shore, Aaron Johnson, Ross Crawford and Matthew Wheeler of JLL represented the seller, Ohio-based Retail Value Inc., in the transaction. The buyer was …

January 22, 2020

Illinois Investment sales News Retailers

Jameson Commercial Brokers $21.9 Million Sale of Retail Portfolio in Chicago

by Alex Tostado January 22, 2020

Chicago — Jameson Commercial has brokered the sale of a retail portfolio in Chicago’s South Loop for $21.9 million. The portfolio includes a single-tenant Chick-fil-A, a 7-Eleven gas station and an 8,000-square-foot retail building anchored by Aspen Dental. Mark Kishtow of Jameson represented the seller, GW Properties, as well as the buyer, Park 1 Chicago.

January 22, 2020

Development Entertainment Investment sales Malls News Virginia

VCC Partners, Shamin VCC Acquire Former Macy’s in Virginia, Plan to Redevelop into Sports Complex

by Alex Tostado January 22, 2020

Glen Allen, Va. — VCC Partners LLC and Shamin VCC LLC have acquired a 109,813-square-foot former Macy’s within Virginia Commons Mall in Glen Allen for $2 million. The buyers plan to demolish the existing building and redevelop the nine-acre property into a sports arena that will include indoor event space, basketball courts and seating for 4,500 spectators. Demolition will begin by May. David Kalman of S.L. Nusbaum Realty Co. represented the seller, Impact Investments Group LLC, in the transaction.

January 22, 2020

Investment sales Massachusetts News Retailers

Avison Young Brokers $7 Million Sale of Two Retail Properties in Metro Boston

by Alex Tostado January 21, 2020

Needham and Newton, Mass. — Avison Young Commercial Real Estate has brokered the $7 million sale of two retail properties in Needham and Newton, two western suburbs of Boston. The property in Needham, a 15,609-square-foot retail center located at 238 Highland Ave., is leased to Needham Montessori School, Mandarin Cuisine Restaurant and Needham Nail & Spa. The property in Newton, a 3,588-square-foot building located at 106 Needham St., is leased to fitness equipment distributor Gym Source. Brandon Dickinson of Avison Young represented the seller, Terrazzino Investment Trust, in the transaction. …

January 21, 2020

Investment sales News Retailers Wisconsin

Mid-America Brokers Sale of 7,882-Square-Foot Retail Building in Oak Creek, Wisconsin

by Alex Tostado January 21, 2020

Oak Creek, Wis. — Mid-America Real Estate Corp. has brokered the sale of a 7,882-square-foot retail building on an outlot to Drexel Town Square in Oak Creek, about 12 miles south of Milwaukee. The sales price was undisclosed. The property is fully leased to five tenants, including Associated Bank, Sport Clips, Bentley’s Pet Stuff, Charles Schwab and Tropical Smoothie Café. Carly Gallagher Kelly and Andrew Prater of Mid-America represented the seller, a Wisconsin-based developer. A private investor purchased the asset.

January 21, 2020

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