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Investment sales

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IllinoisInvestment salesNews

JLL Arranges Sale of 94,508-Square-Foot Shopping Center in Metro Chicago

by Hayden Spiess

South Elgin, Ill. — JLL Capital Markets has arranged the sale of South Elgin Commons, a shopping center in South Elgin, roughly 40 miles outside Chicago. Tenants at the property, which was built in 2011 and partially renovated in 2021 and 2024, include Ross Dress for Less, T.J. Maxx, Five Below and Advocate Health Care. The center was fully occupied at the time of sale. L2 Partners acquired the property from PMAT Real Estate Investments. Michael Nieder and Keely Polczynski of JLL represented the seller in the transaction. 

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FloridaInvestment salesNews

Marcus & Millichap Brokers $6 Million Sale of Palm Plaza in Pembroke Pines, Florida

by Hayden Spiess

Pembroke Pines, Fla. — Marcus & Millichap has brokered the $6 million sale of Palm Plaza, a retail center located in Pembroke Pines. Tenants at the property, which totals 22,284 square feet, include Domino’s, Sushi Song and State Farm. The center was renovated in 2023 and fully leased at the time of sale. Jonathan De La Rosa, Eddie Toledo and Matthew Albregts of Marcus & Millichap represented the seller, an entity doing business as Westar at Palm Plaza LLC, in the transaction. A local private investor was the buyer. 

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CaliforniaGrocery-anchoredInvestment salesNews

Hanley Brokers $20.8 Million Sale of Five Shopping Center Outparcels in Riverside, California

by Hayden Spiess

Riverside, Calif. — Hanley Investment Group Real Estate Advisors has brokered the $20.8 million sale of five outparcels at Citrus Landing, a shopping center located in Riverside. Stater Bros. anchors the center, which was fully leased at the time of the transaction. Together, the five properties total 25,916 square feet. Tenants at the pad and outparcel buildings include Chick-fil-A, Quick Quack Car Wash, Arrowhead Credit Union, Panda Express, Café Bottega and Pacific Dental. Kevin Fryman and Ed Hanley of Hanley represented the seller, a private investor, in the transaction. Art Flores …

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Investment salesMassachusettsNews

Atlantic Capital Partners Arranges Sale of 79,299-Square-Foot Retail Property in Metro Boston

by Hayden Spiess

Malden, Mass. —Atlantic Capital Partners has arranged the $26.2 million sale of a single-tenant retail property located in the Boston suburb of Malden. Stop & Shop grocery store occupies the building, which totals 79,299 square feet and is situated with proximity to the Malden Center MBTA station. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller in the transaction and procured the buyer.  

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Grocery-anchoredInvestment salesNewsSouth Carolina

Zapolski Real Estate Acquires 18,035-Square-Foot Retail Center in Myrtle Beach, South Carolina

by Hayden Spiess

Myrtle Beach, S.C. — An affiliate of Zapolski Real Estate doing business as Prince Creek Investments LLC has acquired Prince Creek Village, an 18,035-square-foot retail center located in Myrtle Beach. Publix anchors the property, which was fully occupied at the time of sale. An entity doing business as MHC Prince Creek Village Owner LLC, a subsidiary of MHComemercial Real Estate Fund, sold the property for $6.4 million. Tom Kolarcyzk and Andrew Jomantas of JLL Capital Markets represented the seller in the transaction. 

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GeorgiaGrocery-anchoredInvestment salesNews

Greenberg Gibbons Purchases Shopping Center in Tucker, Georgia for $17.3 Million

by Hayden Spiess

Tucker, Ga. — Greenberg Gibbons has acquired Northlake Square, a retail center located in Tucker, for $17.3 million, marking the company’s entrance into the Georgia market. Built in 1988, the property totals 82,578 square feet. Tenants at the center, which was 98 percent leased at the time of sale, include Aldi and Best Buy. Greenberg Gibbons purchased Northlake Square through its investment vehicle Greenberg Gibbons Real Estate Income Fund I. 

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Investment salesNewsTennessee

TSCG Negotiates Sale of 65,900-Square-Foot Retail Center in Memphis, Tennessee 

by Hayden Spiess

Memphis, Tenn. — The Shopping Center Group (TSCG) has negotiated the sale of Houston Levee Galleria, a 65,900-square-foot retail center in Memphis. Built in 2006, the property was 94 percent leased at the time of sale. Anthony Blanco and Lynn De Marco of TSCG represented the seller, a limited liability company, in the transaction. 

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CaliforniaInvestment salesNews

Hanley Arranges Sale of 15,000-Square-Foot Retail Pad in Fresno, California

by Hayden Spiess

Fresno, Calif. — Hanley Investment Group Real Estate Advisors has brokered the sale of the Shops at Broadway Faire, a multi-tenant retail pad located in Fresno. Tenants at the property, which is situated on an outparcel to a grocery-anchored shopping center, include Red Robin, FedEx, Conroy’s Flowers, Liquor 4U and OneMain Financial. Eric Wohl and CJ Kiehler of Hanley represented the seller, a New York-based investment trust, in the transaction. A local private investor acquired the pad. 

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CaliforniaInvestment salesNews

Progressive Brokers $9.5 Million Sale of Single-Tenant Property in Southern California

by Hayden Spiess

Highland, Calif. — Progressive Real Estate Partners has brokered the $9.5 million sale of a single-tenant retail property located in Highland. Situated on an outparcel to Highlands Crossing, a regional shopping center, the property is occupied by a Chevron Station with a 3,000-square-foot ExtraMile Convenience Store and Express Car Wash. G & M Oil Co. acquired both the real estate and the business in the transaction. Victor Buendia of Progressive represented the seller, a San Diego-based private investor, in the sale. Scott Olson of C-Store Realty represented the buyer. The property …

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FloridaInvestment salesMixed-useNews

Linkvest Capital, MMG Equity Partners Acquire 4.8-Acre Mixed-Use Development in Metro Miami

by Hayden Spiess

Homestead, Fla. — Linkvest Capital and MMG Equity Partners have acquired Homestead Station, a 4.8-acre mixed-use development located in Homestead, approximately 30 miles southwest of Miami. LV Lending was the seller, and the transaction was completed through a deed in lieu of foreclosure. Delivered in 2019, Homestead Station features tenants including Evo Entertainment + IMAX and retail and dining space, as well as a 1,100-space parking garage. Roughly 18,000 square feet of vacant space is currently available for lease at the property. 

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