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Investment sales

Volusia-Square_Daytona-Beach-Fla
FloridaInvestment salesNews

Colliers Brokers $26.4 Million Sale of Shopping Center in Daytona Beach, Florida

by Hayden Spiess

Daytona Beach, Fla. — Colliers has brokered the $26.4 million sale of Volusia Square, a shopping center located in Daytona Beach. Tenants at the property, which was 97.2 percent leased at the time of sale, include Urban Air Adventure Park, Amped Fitness, Ollie’s Bargain Outlet and Restaurant Depot Express. The sale also included three outparcels occupied Buffalo Wild Wings, Arby’s and a multi-tenant building leased to Lenscrafters and CAVA. Brad Peterson and Whitaker Leonhardt of Colliers represented the seller, Lamar Cos., in the transaction. Mosaic Realty Partners was the buyer. 

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IllinoisInvestment salesNews

Timber Development Co. Acquires Belleville Crossings in Illinois for $6.5 Million

by Hayden Spiess

Belleville, Ill. — Timber Development Co. has acquired Belleville Crossings, a retail center located in Belleville, for $6.5 million. Target, The Home Depot and PetSmart anchor the property, which totals 325,000 square feet and was 60 percent leased at the time of acquisition. Other tenants at the center include Dollar Tree, Maurices, Hibbits Sporting Goods and Famous Footwear. Michael Austry of CBRE represented the seller in the transaction. 

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Jersey-Mikes
Company newsInvestment salesNew JerseyNewsRestaurants

Blackstone Agrees to Acquire Majority Ownership Position in Jersey Mike’s Subs

by Hayden Spiess

Manasquan, N.J. — Private equity funds managed by Blackstone have agreed to acquire a majority ownership position in Jersey Mike’s Subs. The deal would value the Manasquan-based sandwich restaurant chain at around $8 billion, including debt, according to The Wall Street Journal. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. Blackstone says the partnership is intended to help Jersey Mike’s accelerate its expansion across and beyond the U.S. market, as well as its continued investment in technology and digital transformation. New …

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Thompson-Square_Tupelo-Miss
Grocery-anchoredInvestment salesMississippiNews

JLL Arranges Sale of 69,448-Square-Foot Retail Center in Tupelo, Mississippi

by Hayden Spiess

Tupelo, Miss. — JLL Capital Markets has arranged the sale of Thompson Square, a 69,448-square-foot retail center located in Tupelo. Mishra Group acquired the property from Midland Atlantic Properties for an undisclosed price. The center was fully leased at the time of sale to tenants including Kroger, Enterprise, Buff City Soap, Republic Finance, Allstate and Chik-fil-A.  Brad Buchanan, Jim Hamilton and Anton Serafini of JLL represented the seller in the transaction. 

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Huntington Oaks Center
CaliforniaGrocery-anchoredInvestment salesNews

Hanley Arranges Sale of 250,787-Square-Foot Shopping Center in Southern California

by Hayden Spiess

Monrovia, Calif. — Hanley Investment Group Real Estate Advisors has arranged the sale of Huntington Oaks Center, a 250,787-square-foot shopping center located in Monrovia, approximately 20 miles outside Los Angeles. Built in 1984, the property was 75 percent occupied at the time of sale. Tenants at the center include Trader Joe’s, Burlington, Marshalls, Crunch Fitness, Chili’s Grill & Bar, Mimi’s Café, Chipotle Mexican Grill and Panda Express. A Kohl’s is also located at the property but was not included in the sale. Hanley represented the seller in the transaction.

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Lowes
FloridaInvestment salesNews

SRS Brokers $14.3 Million Sale of Retail Property in Metro Tampa 

by Hayden Spiess

Odessa, Fla. — SRS Real Estate Partners has brokered the $14.3 million sale of a newly built freestanding retail property in Odessa, a suburb of Tampa. Lowe’s Home Improvement occupies the 137,554-square-foot property on a 20-year absolute net ground lease. Matthew Mousavi and Patrick Luther of SRS represented the California-based buyer in the all-cash transaction. Patrick Wagor of Atlantic Capital Partners represented the seller, a privately held development firm. 

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FloridaGrocery-anchoredInvestment salesNews

Wilder Acquires 65,417-Square-Foot Retail Center in Sarasota, Florida

by Hayden Spiess

Sarasota, Fla. — Wilder has acquired the Shoppes at Palmer Ranch, a 65,417-square-foot retail center located in Sarasota. Publix anchors the property with a store featuring a drive-thru pharmacy and Publix Liquors. Other tenants at the center include Dental Care at Palmer Ranch, Sherwin-Williams, Wellness Animal Hospital, Ann Volcano Nail Lounge and Fuji Sushi Steakhouse. Brad Peterson of Colliers represented the seller, WMG Development, in the transaction. Donald Jennewein of Colliers arranged acquisition financing on behalf of Wilder. 

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Investment salesNewsNorth Carolina

Legacy Arranges Sale of 54,803-Square-Foot Shopping Center in Cary, North Carolina

by Hayden Spiess

Cary, N.C. — Legacy Realty Group Advisors has arranged the sale of Hemlock Plaza, a 54,803-square-foot shopping center located in Cary. Jacob Baruch, Daniel Baruch and Max Yardeni of Legacy represented the buyer in the transaction. Daniel Walser and David Divine of APG Advisors represented the seller. 

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Walgreens-Indiana
IndianaInvestment salesNet leaseNews

Marcus & Millichap Brokers $2.4 Million Sale of Walgreens-Occupied Property in Bluffton, Indiana

by Hayden Spiess

Bluffton, Ind. — Marcus & Millichap has brokered the $2.4 million sale of a single-tenant retail property in Bluffton, roughly 25 miles south of Fort Wayne. Built in 2023, the building is occupied by Walgreens, with approximately 4.5 years remaining on the triple-net lease. Jordan Klink and David Klink of Marcus & Millichap represented the seller, Eureka Limited Co., and procured the buyer, Valuecom22 LLC, in the transaction.

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Publix_Dacula-Ga
GeorgiaGrocery-anchoredInvestment salesNews

Hanley Brokers $25 Million Sale of New Publix-Anchored Shopping Center in Dacula, Georgia

by Hayden Spiess

Dacula, Ga. — Hanley Investment Group Real Estate Advisors has brokered the $25 million sale of Publix at Harbins 316, a shopping center located in Dacula, roughly 40 miles outside Atlanta. Tenants at the center, which is anchored by Publix, include Great Clips, Starbucks Coffee, Jersey Mike’s Subs, Wingstop, The UPS Store and Heartland Dental. Ed Hanley and Kevin Fryman of Hanley, with ParaSell Inc., represented the buyer, a San Diego-based investor, in the transaction. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, Watkins Real Estate Group.

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