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Investment sales

Cumberland-Crossing-Outparcel_Valparaiso-Ind
IndianaInvestment salesNews

Marcus & Millichap Brokers $1.7 Million Sale of Retail Outparcel in Valparaiso, Indiana

by Hayden Spiess

Valparaiso, Ind. — Marcus & Millichap has brokered the $1.7 million sale of a three-tenant retail outparcel located in Valparaiso. Situated within Cumberland Crossing Retail Center, the property was developed in 2008. Salon Lofts, Venus Nails and Indiana Farm Bureau Insurance Agency occupy the outparcel, which totals 7,541 square feet. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the seller. Josh Caruana assisted in closing the transaction as the firm’s Indiana broker of record. 

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Town-Central-Shopping-Center_Milledgeville-Ga
GeorgiaInvestment salesNews

Marcus & Millichap Brokers $8.3 Million Sale of Retail Properties in Milledgeville, Georgia

by Hayden Spiess

Milledgeville, Ga. — Marcus & Millichap has brokered the $8.3 million sale of two retail properties located in Milledgeville. An undisclosed buyer acquired Town Central Shopping Center, a 140,097-square-foot retail center, and an adjacent single-tenant property totaling 54,765 square feet. Food Depot occupies the single-tenant property. Tenants at Town Central Shopping Center, which was fully leased at the time of sale, include Tractor Supply Co. Zach Taylor and Eric Abbott of Marcus & Millichap represented the seller of the shopping center, and Robby Pfeiffer of Marcus & Millichap represented the seller …

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Sedgefield-Crossing_Greensboro-N.C
Investment salesNewsNorth Carolina

Legacy Arranges $6 Million Sale of Sedgefield Crossing in Greensboro, North Carolina

by Hayden Spiess

Greensboro, N.C. — Legacy Realty Group Advisors has arranged the $6 million sale of Sedgefield Crossing, a 112,330-square-foot shopping center located in Greensboro. Family Dollar and USPS anchor the property. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented both the seller and buyer in the transaction. 

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Grocery-anchoredInvestment salesNewsUtah

Capstone Purchases 38,397-Square-Foot Retail Center in Metro Salt Lake City

by Hayden Spiess

South Jordan, Utah — Capstone Advisors has purchased Trail Crossing Shopping Center, a 38,397-square-foot retail center located in South Jordan, roughly 20 miles south of Salt Lake City. Smith’s Food and Drug, a subsidiary of The Kroger Co., anchors the property, which was built in 2017. Wright Development Group sold the center for an undisclosed price. 

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IllinoisInvestment salesNews

Inland Sells 101,157-Square-Foot Retail Property in Chicago Suburb

by Hayden Spiess

Downers Grove, Ill. — Inland Private Capital Corp. (IPC) has sold a 101,157-square-foot retail property located in the southwest Chicago suburb of Downers Grove. Best Buy and Golf Galaxy occupy the development, with 62,860-square-foot and 38,297-square-foot spaces, respectively. IPC, through its subsidiary that serves as an asset manager, facilitated the sale of the property on behalf of Downers Grove Retail DST, one of IPC’s 1031 investment programs.

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McDonalds_Fountain-Valley-Calif
CaliforniaInvestment salesNet leaseNews

Hanley Arranges $3.9 Million Sale of Single-Tenant Property in Southern California

by Hayden Spiess

Fountain Valley, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $3.9 million sale of a single-tenant property located in Fountain Valley. McDonald’s occupies the 3,500-square-foot property on an absolute triple-net ground lease. Built in 2011, the development is situated on an outparcel adjacent to a Costco. Bill Asher and Jeff Lefko of Hanley, in association with Fred Encinas of Oaks Commercial Real Estate, represented the seller, a California-based family trust, in the transaction. Robert Tran of HPT Realty represented the buyer. 

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Retail-Center_Flemington-N.J
Investment salesNew JerseyNews

Marcus & Millichap Brokers $7.5 Million Sale of Retail Center in Flemington, New Jersey

by Hayden Spiess

Flemington, N.J. — Marcus & Millichap has brokered the $7.5 million sale of a two-tenant retail center located in Flemington. Dean Zang, David Crotts, Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller, Paramount Realty, in the transaction. Aspen Dental and City MD Urgent Care occupy the property, which totals 7,388 square feet. Tom Georges of Northmarq represented the buyer, a local private investor. 

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Express
Company newsInvestment salesNew YorkNews

PHOENIX Acquires Majority of Express Retail Assets

by Hayden Spiess

New York City — PHOENIX — a new direct to consumer (DTC) platform led by WHP Global in collaboration with an affiliate of Simon Property Group, Brookfield Properties and Centennial Real Estate — has acquired the majority of apparel brand Express’ retail operating assets. PHOENIX is now the operator of the entirety of the brick-and-mortar and e-commerce portfolio of both Express and Bonobos, which features more than 450 physical stores. 

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Eastern-Shore-Centre_Spanish-Fort
AlabamaInvestment salesNews

JLL Arranges Sale of 432,158-Square-Foot Shopping Center Near Mobile, Alabama

by Hayden Spiess

Spanish Fort, Ala. — JLL has arranged the $33.2 million sale of Eastern Shore Centre, a 432,158-square-foot shopping center located in Spanish Fort, a suburb of Mobile. Jim Hamilton, Brad Buchanan and Andrew Nichols of JLL represented the seller, Allied Development, in the transaction. Chip Sykes, Hunter Goldberg, Hamp Gibbs and Mikey Minihan, also of JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, Wicker Park Capital Management. Dillard’s anchors the property. Other tenants at the center include Belk, Shoe Station, Barnes & Noble, Stock & Trade, …

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