Roswell, Ga. — JLL Capital Markets has arranged the sale of Roswell Market Center, an 82,029-square-foot retail center located in the northern Atlanta suburb of Roswell. Tenants at the property, which was built in 1990, include AutoZone, Dollar Tree, Subway and AT&T. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the seller, Sterling Organization, in the transaction.
Frederick, Md. — Finmarc Management Inc. has purchased Riverview Plaza, a 185,275-square-foot shopping center in Frederick, for $30 million. Ryan Sciullo and H. Casey Benson Smith of CBRE represented the seller, a joint venture between Edens and JPMorgan Chase & Co., in the transaction. Built in 1998 on 23 acres, Riverview Plaza is located approximately 40 miles outside Washington, D.C. The shopping center was 95 percent leased at the time of sale to 10 retailers, including T.J. Maxx, PetSmart, Michaels, Staples, Sierra and Old Navy.
Rochester, N.Y. — Red Oak Capital Holdings has provided an $8.6 million loan for the acquisition of Irondequoit Plaza, a 205,000-square-foot shopping center located in Rochester. Sky Capital is the borrower. Wegman’s anchors the center, which was developed in 1980. Other tenants at the property include Citizens Bank, Dollar Tree, Dunkin Donut and Big Lots. The center was most recently renovated in 2005. Sky Capital will use the loan from Red Oak to finance the $9.5 million purchase of a 123,479-square-foot non-anchored portion of the property. Sky Capital is purchasing the …
Emporia, Va. — Marcus & Millichap has brokered the $1.9 million sale of Emporia Commons, a 35,013-square-foot retail center located in Emporia. Tenants at the property include It’s Fashion Metro, H&R Block and Pizza Hut. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller, a Tennessee-based developer, in the transaction. Brian Hosey, the firm’s broker of record in the state, assisted in closing the sale.
Las Vegas — Aspen Real Estate has acquired Renaissance III, a 225,748-square-foot foreclosed shopping center located in Las Vegas. Aspen purchased the property from special servicer LNR Property LLC for $24.7 million. Tenants at the center include Planet Fitness, America First Credit Union, Nevada Department of Health and Human Services, Ichabod’s Lounge and Restaurant, Panda Express, Meineke and Chaga Root. Logic Commercial Real Estate represented both the buyer and the seller in the transaction. Aspen has allocated $7 million for renovations and tenant improvements, with plans to demolish two buildings to …
Davenport, Fla. — SRS Real Estate Partners has brokered the $9.1 million sale of a newly built gas station and convenience store located in Davenport, roughly 30 miles southwest of Orlando. 7-Eleven occupies the property on a 15-year triple-net lease, with scheduled rent increases and multiple extension options. The property is situated on a 1.4-acre site at the entrance of Champions Station, a 14-acre mixed-use development. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based development firm, in the transaction. A Michigan-based private investor was the buyer.
Missoula, Mont. — Benderson Development has acquired a freestanding single-tenant property located in Missoula, marking the company’s first entrance into the Montana market. Walgreens occupies the building. Benderson’s portfolio currently includes more than 55 million square feet across more than 1,000 properties in 40 states.
New York City and Dallas — HBC, the New York City-based parent company of Saks Fifth Avenue, has agreed to acquire Dallas-based Neiman Marcus Group. The merger between the two luxury fashion retailers is valued at $2.6 billion. An estimated closing date was not released. Following the acquisition, HBC will establish Saks Global, an entity that will combine the intellectual property and real estate assets of the two companies. Brands that are already owned by HBC or Neiman Marcus, including Saks OFF 5th, Bergdorf Goodman and Last Call Outlet, will continue …
Charlotte, N.C. — Octave Holdings and Investments has acquired Belgate Shopping Center, a 269,253-square-foot retail center located in Charlotte. Tenants at the property, which was fully leased at the time of sale, include Hobby Lobby, T.J. Maxx, Burlington, Marshalls, PetSmart, Old Navy, Shoe Carnival and Ulta Beauty. Octave completed the transaction through its Octave Realty Fund IX. Pinnacle Leasing and Management, Octave’s in-house property management company, will manage the center.
Elmira, N.Y. — Time Equities Inc. (TEI) has purchased Big Flats Commons, a 44,635-square-foot retail center located in Elmira. Target anchors the property, which was built in 2007. Other tenants at the center include Best Buy, Maurice’s, Five Guys, Panera Bread, Vitamin Shoppe and Papa John’s. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented TEI on an in-house basis. Kenneth Brownwell of Vanguard-Fine represented the seller, NNN Reit.
