Investment sales

Mid-America Arranges Sale of 108,412-Square-Foot Iroquois Center in Metro Chicago

by Hayden Spiess June 19, 2024

Naperville, Ill. — Mid-America Real Estate Corp. has arranged the sale of Iroquois Center, a 108,412-square-foot shopping center in Naperville, roughly 30 miles outside Chicago. Northpond Partners acquired the property for an undisclosed price. Tenants at the center include Planet Fitness, Duly Health and Care, Illiana Financial Credit Union and Cookies by Design. Joe Girardi, Rick Drogosz and Ben Wineman of Mid-America represented the seller, IRC Retail Centers/DRA Advisors, in the transaction. Pine Tree managed the property at the time of sale.

June 19, 2024

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Investment sales News South Carolina

Marcus & Millichap Brokers $18.8 Million Sale of The Shoppes at Montague Corners in North Charleston, South Carolina

by Hayden Spiess June 19, 2024

North Charleston, S.C. — Marcus & Millichap has brokered the $18.8 million sale of The Shoppes at Montague Corners, a retail center located in North Charleston. Planet Fitness anchors the property, which totals 106,518 square feet. The 23-tenant center was 94.6 percent occupied at the time of sale. Other tenants at the property include Dollar General, Harbor Freight Tools and Save-A-Lot. The center has undergone renovations and tenant improvements totaling $4 million within the past two years. Allyssa Paragano and Ani Paulson of Marcus & Millichap represented the seller and procured …

June 19, 2024

California Investment sales News

Matthews Negotiates $5.8 Million Sale of Retail Center in Merced, California

by Hayden Spiess June 19, 2024

Merced, Calif. — Matthews Real Estate Investment Services has arranged the sale of 3110 R Street, a retail center located in the San Joaquin Valley city of Merced. An undisclosed buyer purchased the property for $5.8 million. Tenants at the center include Chipotle Mexican Grill and Panera Bread, which occupy end-cap storefronts. Chipotle recently extended its lease for an additional 10 years. Clay Smith of Matthews represented the seller in the transaction.

June 19, 2024

Grocery-anchored Investment sales News Ohio

Legacy Brokers $5.2 Million Sale of Retail Center in Massillon, Ohio

by Hayden Spiess June 18, 2024

Massillon, Ohio — Legacy Realty Group Advisors has brokered the $5.2 million sale of Amherst Shopping Center, a 146,880-square-foot retail center located in Massillon. Marc’s and Dollar General anchor the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction.

June 18, 2024

Grocery-anchored Investment sales News Wisconsin

Mid-America Brokers Sale of 116,135-Square-Foot Silvernail Plaza Shopping Center in Milwaukee Suburb

by Hayden Spiess June 18, 2024

Waukesha, Wis. — Mid-America Real Estate Corp. has brokered the sale of Silvernail Plaza, a 116,135-square-foot shopping center in the western Milwaukee suburb of Waukesha. Tenants at the property include grocer Metro Market and Dollar Tree. Outlots leased to Wendy’s, Arby’s and Firestone were included in the sale. Rick Drogosz, Dan Rosenfeld and Scott Satula of Mid-America represented the seller, United Properties. Essential Growth Properties was the buyer.

June 18, 2024

Investment sales News Pennsylvania

Marcus & Millichap Arranges $10.1 Million Sale of Retail Building in Bellefont, Pennsylvania

by Hayden Spiess June 18, 2024

Bellefont, Pa. — Marcus & Millichap has arranged the $10.1 million sale of a retail building located in Bellefont. Giant Food occupies the property, which was constructed in 2022 as part of Paradise Shopping Center, on a net-lease basis. Dean Zang, Brad Nathanson and David Crotts of Marcus & Millichap represented the seller, a Pennsylvania-based developer, in the transaction. JRW Realty represented the buyer, an affiliate of Exchange Right.

June 18, 2024

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Pine Tree Acquires 2.5 Million-Square-Foot Retail Portfolio from SITE Centers for $495 Million

by Hayden Spiess June 17, 2024

Northbrook, Ill. — Pine Tree, in partnership with a state pension fund, has purchased six open-air shopping centers from SITE Centers Corp. (NYSE: SITC) for $495 million. The portfolio comprises 2.5 million square feet and feature properties in metros including Fort Lauderdale, Florida; Columbus, Ohio; Cincinnati; Phoenix; and Portland, Oregon. The properties included in the portfolio are: The portfolio’s retail anchors include Kroger, New Seasons Market, The Fresh Market, Target, Ulta Beauty, Nordstrom Rack, Dick’s Sporting Goods and 13 stores leased by TJX Cos. Pine Tree is a retail developer and …

June 17, 2024

Grocery-anchored Illinois Investment sales News

Core Acquisitions Purchases Rice Lake Square Shopping Center in Suburban Chicago for $34.2 Million

by Hayden Spiess June 17, 2024

Wheaton, Ill. — Core Acquisitions has purchased Rice Lake Square, a 251,584-square-foot shopping center located in the Chicago suburb of Wheaton, for $34.2 million. Developed in 1989 and renovated in 2011 and 2019, the property is anchored by Pete’s Fresh Market, Studio Movie Grill and PetSmart. Additional tenants at the center, which was 76 percent leased at the time of sale, include Massage Envy, Orangetheory Fitness, Potbelly Sandwich Shop, Men’s Wearhouse, Xfinity and Taco Bell. Rick Drogosz of Mid-America Real Estate Corp. represented the undisclosed seller in the transaction. Old National …

June 17, 2024

Grocery-anchored Investment sales Louisiana News

Marcus & Millichap Brokers $10.5 Million Sale of Retail Center in Monroe, Louisiana

by SCB Staff June 17, 2024

Monroe, La. — Marcus & Millichap has brokered the $10.5 million sale of The Plaza One Shopping Center, a retail center located in Monroe. Super 1 Foods anchors the property, which totals 96,765 square feet. The center was fully leased at the time of sale. Zach Taylor and Philip Levy of Marcus & Millichap represented the seller, a Texas-based private investor, in the transaction. Steve Greer assisted in closing the sale as the Louisiana broker of record.

June 17, 2024

California Company news Entertainment Investment sales News Texas

Sony Pictures Entertainment Acquires Theater Chain Alamo Drafthouse Cinema

by Hayden Spiess June 13, 2024

Culver City, Calif. and Austin, Texas — Sony Pictures Entertainment has acquired theater chain Alamo Drafthouse Cinema from Altamont Capital Partners, Fortress Investment Group and founder Tim League for an undisclosed price. Alamo Drafthouse was founded in 1997 in Austin, and has grown from a single mom-and-pop location to 35 cinemas across 25 metropolitan areas. The company is the seventh-largest theater chain in North America and was one of the pioneers of the in-theater elevated food and drink concept. Alamo Drafthouse will maintain its headquarters in Austin and will continue to …

June 13, 2024

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