Investment sales

Shannon Crossing
GeorgiaInvestment salesNews

SRS Arranges $19.4 Million Sale of Kroger-Anchored Shopping Center in Metro Atlanta

by Julia Sanders

Union City, Ga. — SRS Real Estate Partners has arranged the sale of Shannon Crossing, a 101,174-square-foot, Kroger-anchored shopping center located in Union City, about 17 miles south of downtown Atlanta. Forge Real Estate Partners III LP, a joint venture between Forge Capital Partners and The Sembler Co., sold the property for $19.4 million to an Atlanta-based entity doing business as Flesh and Soul Enterprises LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller and the buyer was self-represented in the transaction. Located at 4550 Jonesboro Road, the …

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Warren Plaza
Investment salesIowaNews

JLL Brokers Sale of 91,588-Square-Foot Grocery-Anchored Shopping Center in Dubuque, Iowa

by Julia Sanders

Dubuque, Iowa — JLL Capital Markets has arranged the sale of Warren Plaza in Dubuque for an undisclosed price. Anchored by Hy-Vee, the shopping center spans 91,588 square feet. Other tenants at the property include UPS, SuperCuts, Jersey Mike’s, Miracle Ear, Grand River Medical Group and OneMain Financial. Clinton Mitchell, Amy Sands, Michael Nieder, Kirstey Lein and Marcus Pitts of JLL represented the seller, The DESCO Group, in the disposition of the property to a Midwest-based private investment fund.

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retail center
CaliforniaInvestment salesNews

Pinnacle Real Estate Negotiates $14.8 Million Sale of Retail Center in Metro Los Angeles

by Julia Sanders

Cerritos, Calif. — Pinnacle Real Estate Advisors has brokered the $14.8 million sale of a retail center located at 12221-17312 Norwalk Blvd. in Cerritos, roughly 19 miles south of downtown Los Angeles. The names of the seller and buyer were not disclosed. The 52,382-square-foot property is anchored by a grocery store. Peter Sengelmann, Eric Diesch and Jackson Coon of Pinnacle Real Estate Advisors represented the seller in the deal.

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Buckner Plaza
Investment salesNewsVirginia

Colliers Arranges Sale of Buckner Plaza in Virginia Beach for $6.4 Million

by Julia Sanders

Virginia Beach, Va. — Colliers has arranged the $6.4 million sale of Buckner Plaza, a 63,500-square-foot shopping center located at 3208 Holland Road in Virginia Beach. Jeffrey Fritz and Jay O’Donnell of Colliers represented the seller, Club Forest Buckner LLC, and Michael Ettel of Colliers represented the buyer, VB-GC-RA 18 LLC. Buckner Plaza is located on a 5.5-acre parcel along Holland Road. The property was 95.4 percent leased at the time of sale to tenants including Food Lion and Dollar General.

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McDonalds
Investment salesLouisianaNews

SRS Brokers $2.6 Million Sale of McDonald’s-Occupied Retail Property in Prairieville, Louisiana

by Julia Sanders

Prairieville, La. — SRS Real Estate Partners has arranged the $2.6 million ground-lease sale of a McDonald’s-occupied, 4,268-square-foot retail property located at 15022 Airline Highway in Prairieville, about 22 miles south of Baton Rouge. Newly built, the property includes a drive-thru and is situated on 1.4 acres near Interstate 10. The McDonald’s is slated to open by late September. Matthew Mousavi, Patrick Luther and Sabrina Kortlandt of SRS represented the seller, a Baton Rouge-based private investor who has owned the land for more than 60 years. Jeff Li of Colliers …

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Starbucks Coffee
GeorgiaInvestment salesNews

Palomar Group Brokers $2.3 Million Sale of Starbucks-Occupied Property in Suburban Augusta

by Julia Sanders

Evans, Ga. — The Palomar Group has brokered the $2.3 million sale of a Starbucks Coffee-occupied retail property located at 3104 William Few Parkway in the Augusta suburb of Evans. The buyer was an investor based in Aiken, South Carolina, and the seller was an investor based in Augusta, Georgia. The Palomar Group was the only broker involved in the transaction. Built in 2021, the retail property spans 2,500 square feet. Starbucks Coffee has a 10-year lease and no termination clause at the property. The store is an outparcel of …

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Northeast Tower Center
Investment salesNewsPennsylvania

Paramount Realty Services Sells 500,000-Square-Foot Shopping Center in Philadelphia

by Julia Sanders

Philadelphia — Paramount Realty Services has sold Northeast Tower Center, a 500,000-square-foot regional shopping center located at 4600 Roosevelt Blvd. in Philadelphia. Brad Nathanson of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the transaction. The buyer was not disclosed. Constructed in 1996, Northeast Tower Center is anchored by Walmart and Home Depot and home to tenants including Old Navy, Ross, DD’s Discount, PetSmart, Pep Boys and Dollar Tree.

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Shops at Lynnfield
Investment salesMassachusettsNews

Marcus & Millichap Brokers $19.5 Million Sale of Shopping Center in Suburban Boston

by Julia Sanders

Lynnfield, Mass. — Marcus & Millichap has brokered the $19.5 million sale of a 64,056-square-foot shopping center in Lynnfield, a northern suburb of Boston. The property consists of three buildings, including one that was built in 1991, remodeled in 2019 and is occupied by Christmas Tree Shops, as well as two others that were completed in 2018. Other tenants include Yankee Candle, Meraki Spa, Starbucks Coffee and East Boston Savings Bank. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap brokered the deal. The buyer and seller were …

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IndianaInvestment salesNews

Ziff Real Estate Sells Pyramid Place Shopping Center in Indianapolis for $10.6 Million

by Julia Sanders

Indianapolis — Ziff Real Estate Partners (ZRP) has sold Pyramid Place Shopping Center in Indianapolis for $10.6 million to an undisclosed buyer. The neighborhood shopping center is located at the intersection of Michigan Road and West 86th Street and features a gross leasable area of 51,974 square feet. The property was 86 percent occupied at the time of sale by tenants such as Five Guys, Einstein Bagels, Chicken Salad Chick, Qdoba and Tavel Eye Care. ZRP acquired the asset in 2015 from LNR Property LLC. Jordan Klink and Andrew Margulies …

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Investment salesNew JerseyNews

JLL Negotiates $9 Million Sale of Retail Property in Downtown Newark

by Julia Sanders

Newark, N.J. — JLL has negotiated the $9 million sale of a 62,275-square-foot retail property with redevelopment potential that is located at 727 Broad St. in one of downtown Newark’s Qualified Opportunity Zones. Michael Oliver, Marta Villa, Jose Cruz, Kevin O’Hearn and Steve Simonelli of JLL represented the undisclosed buyer and seller in the transaction.

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