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Investment sales

Fairfield, California
CaliforniaInvestment salesNews

Partnership Negotiates Sale of 24,604-Square-Foot Retail Center in Fairfield, California

by Abby Cox

Fairfield, Calif. — A partnership between Faris Lee Investments and John Cumbelich & Associates has negotiated the sale of a 24,604-square-foot, two-building retail center located at 1370-1380 Holiday Lane in Fairfield. Built in 2005 on 2.3 acres, the center is roughly 42 percent occupied. Tenants include Aspen Dental, Peet’s Coffee & Tea, Togo’s Sandwich Shop and Golden 1 Credit Union. Additionally, the center features an anchor space totaling 14,375 square feet, which is currently unleased. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee, along with John Cumbelich and Joe …

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Uptown Boca
FloridaGrocery-anchoredInvestment salesNews

JLL Arranges $118.5 Million Sale of 194,927-Square-Foot Shopping Center in Boca Raton, Florida

by Abby Cox

Boca Raton, Fla. — JLL Capital Markets has arranged the $118.5 million sale of Uptown Boca, a 194,927-square-foot mixed-use development located in Boca Raton. Whole Foods Market anchors the property, which was fully occupied at the time of sale. Additional tenants include Life Time Fitness, REI, HomeSense and Sephora. Along with several retailers and restaurants, Uptown Boca also features 456 luxury apartment units. Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, a joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties and Wheelock Street …

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Bear Creek Plaza
Grocery-anchoredInvestment salesNewsOregon

Marcus & Millichap Brokers $25.3 Million Sale of Bear Creek Plaza in Medford, Oregon

by Abby Cox

Medford, Ore. — Marcus & Millichap has brokered the $25.3 million sale of Bear Creek Plaza, a 189,670-square-foot shopping center located in Medford, roughly 27 miles north of the California border. Originally built in 1977 on nearly 17 acres, the fully leased property is anchored by Dollar Tree, Bi-Mart and Crunch Fitness. Additional tenants include McDonald’s, Wendy’s, Carl’s Jr., First Interstate Bank, OneMain Financial, Metro PCS, Papa Murphy’s and Sally Beauty Supply. Clayton Brown and Ruthanne Loar of Marcus & Millichap represented the seller, an entity doing business as Bear Creek …

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Son of a Butcher
Investment salesNewsTexas

Hanley Investment Group Negotiates Sale of Two Single-Tenant Retail Properties in Grapevine, Texas

by Abby Cox

Grapevine, Texas — Hanley Investment Group Real Estate Advisors has negotiated the sale of two newly constructed, single-tenant drive-thru retail properties located in Grapevine. Restaurant concept Son of a Butcher occupies a 2,389-square-foot building on a 15-year absolute triple-net ground lease, while Chicago hot dog restaurant Portillo’s occupies a 6,250-square-foot building on a 10.5-year absolute triple-net ground lease. Both properties are a part of a newly developed retail center that also includes additional restaurants such as Firebirds Wood Fired Grill, Rock & Brews and Velvet Taco. Bill Asher and Jeff Lefko …

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Fairview Centre
Grocery-anchoredInvestment salesNewsOhio

Axiom Realty Buys 147,602-Square-Foot Fairview Centre in Suburban Cleveland

by Abby Cox

Fairview Park, Ohio — Axiom Realty has purchased Fairview Centre, a 147,602-square-foot shopping center located in the western Cleveland suburb of Fairview Park. Originally built in 1952 and renovated in 1994, the property — which is 89 percent leased — is anchored by Giant Eagle. Additional tenants include Dollar Tree and Onyx Health Club, as well as 15 other service-based tenants. Michael Nieder and Brian Page of JLL’s Chicago office represented the seller in the transaction.

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Westport Village
Investment salesKentuckyNews

Berkeley Capital Advisors Negotiates $39 Million Sale of Westport Village Shopping Center in Louisville

by Abby Cox

Louisville, Ky. — Berkeley Capital Advisors has negotiated the sale of Westport Village, a 170,249-square-foot shopping center located in Louisville. An affiliate of Richmond, Virginia-based Hackney Real Estate Partners purchased the center from an affiliate of Savannah, Georgia-based Wicker Park Capital Management for $39 million. David Webb, Alex Quarier and Alex McDonald of Berkeley Capital Advisors represented the seller in the transaction. Situated on 13.4 acres roughly 10 miles west of downtown, Westport Village houses 45 tenants, including Apricot Lane Boutique, Bend and Zen Hot Yoga, BoomBozz Pizza & Watch …

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Village Square
Investment salesLouisianaNews

Marcus & Millichap Brokers $6.8 Million Sale of Village Square in Baton Rouge, Louisiana 

by Abby Cox

Baton Rouge, La. — Marcus & Millichap has brokered the $6.8 million sale of Village Square, a 47,000-square-foot, three-building retail center near Louisiana State University (LSU) in Baton Rouge. Shadow-anchored by Walmart, Village Square features a mix of tenants including Coffee Call, Classy Nails, Teatery & Tapioca and Juicy Seafood, as well as Office Depot and Sally Beauty, which have operated at the site for more than 20 years. In May, Village Square’s Capital One and IHOP outparcels sold for $5.2 million. Zach Taylor and Eric Abbott of Marcus & Millichap’s Taylor …

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Flint's Crossing
AlabamaInvestment salesNews

Matthews Arranges Sale of 97,668-Square-Foot Flint’s Crossing in Auburn, Alabama

by Abby Cox

Auburn, Ala. — Matthews Real Estate Investment Services has arranged the sale of Flint’s Crossing, a 97,668-square-foot neighborhood center situated three miles from Auburn University. HomeGoods and Michaels anchor the fully leased center. Other tenants include Panera Bread, The UPS Store, Subway, Cici’s Pizza, Plato’s Closet, Kumon and uBreakiFix. In addition to the 22,850-square-foot HomeGoods store, which operates at the property on a new 10-year lease, Flint’s Crossing has introduced roughly 15,115 square feet of new tenants since 2022. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the …

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Potbelly Sandwich
Company newsGeorgiaIllinoisInvestment salesNewsRestaurantsRetailers

RaceTrac Agrees to Acquire Potbelly Sandwich Shop Chain for $566 Million

by Abby Cox

Atlanta and Chicago — Convenience retailer RaceTrac Inc. has entered into a definitive merger agreement to acquire all outstanding shares of fast-casual sandwich chain Potbelly Corp. for $17.12 per share. The all-cash transaction is valued at roughly $566 million, representing a premium of approximately 47 percent to Potbelly’s 90-day volume-weighted average price as of Sept. 9. The acquisition is expected to close in the fourth quarter, subject to customary closing conditions and regulatory approvals. Founded more than 40 years ago in Chicago, Potbelly sells toasted sandwiches, salads, soups and hand-dipped …

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Greeneville Commons
Investment salesNewsTennessee

Matthews Arranges Sale of 224,139-Square-Foot Greeneville Commons in Tennessee

by Abby Cox

Greeneville, Tenn. — Matthews Real Estate Investment Services has arranged the sale of Greeneville Commons, a 224,136-square-foot neighborhood shopping center located in Greeneville. An affiliate of Hackney Real Estate Partners has purchased the center from New York-based Brixmor for $26 million, according to The Greeneville Sun. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the seller in the transaction. Originally opened in 1990, Greeneville Commons is anchored by Ross, Hobby Lobby, Five Below and Marshalls and is currently more than 90 percent leased. Other retailers at the center …

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