Investment sales

Aldi
Investment salesMichiganNews

SRS Brokers $2.5 Million Sale of Aldi Ground Lease in Metro Detroit

by Julia Sanders

Clinton Township, Mich. — SRS Real Estate Partners has brokered the $2.5 million sale of an Aldi ground lease in Clinton Township, about 20 miles north of Detroit. The 19,744-square-foot, single-tenant building is located at 39827 S. Groesbeck Highway. Aldi has roughly 18 years remaining on its lease at the property, which was built in 2009. Frank Rogers and Michael Carter of SRS represented the seller, a Michigan-based private investor. SRS also represented the buyer, a Midwest-based private investor.

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Midway Station
GeorgiaInvestment salesNews

Stan Johnson Co. Arranges Sale of Midway Station in Loganville, Georgia for $2.2 Million

by Julia Sanders

Loganville, Ga. — Stan Johnson Co. has arranged the sale of Midway Station, a 12,050-square-foot retail strip center located at 1009 Atlanta Highway in Loganville. The property was fully leased at the time of sale to tenants including Papa John’s Pizza. Jeff Enck of Stan Johnson Co. represented the sellers, a group of individual investors based in California. A Georgia-based private buyer purchased the property for $2.2 million.

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BJs and Walgreens
FloridaInvestment salesNews

JLL Arranges Sale of Two Single-Tenant Retail Properties in Jacksonville, Florida

by Julia Sanders

Jacksonville, Fla. — JLL Capital Markets has arranged the sale of two single-tenant properties leased to BJ’s Wholesale Club and Walgreens totaling 123,567 square feet. The buildings are located within the Atlantic-Kernan Shops shopping center in Jacksonville. Michael Brewster, Brad Peterson and Whitaker Leonhardt of JLL represented the seller, Sleiman Enterprises. The buyer and the sales price were not disclosed.

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Arlington Plaza
Investment salesNew JerseyNews

Cushman & Wakefield Brokers $13.5 Million Sale of Retail Center in North Arlington, New Jersey

by Julia Sanders

North Arlington, N.J. — Cushman & Wakefield has brokered the $13.5 million sale of Arlington Plaza, a 37,603-square-foot retail center in North Arlington, about 15 miles west of New York City. Grocer Super Foodtown anchors the property, and other tenants include Dunkin’, Taco Bell and Santander Bank. Seth Pollack, Brian Whitmer, Max Helfman, Andrew Merin, David Bernhaut and Gary Gabriel of Cushman & Wakefield represented the seller, Arlington North Associates, and procured the buyer, a privately held investment firm.

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The Maxey Center
Investment salesNewsVirginia

JWN Properties Sells Maxey Center in Powhatan, Virginia for $4.3 Million

by Julia Sanders

Powhatan, Va. — JWN Properties LLC has sold The Maxey Center, a 17,235-square-foot, shopping center located at 3452 Anderson Highway in Powhatan, for $4.3 million. Nathan Shor, Elliot Warsof, Thomas Langston, Chris Zarpas and Mike Zarpas of S.L. Nusbaum Realty Co. represented the seller in the transaction. Ruffin Mill LLC, a local investor represented by Mike Carroll of General Land, was the buyer. The center is fully leased to tenants including Powhatan Medical Associates, Edward Jones, Angela’s Italian Restaurant, ERA Napier and Powhatan Gentle Dentistry.

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Thomasville Center
GeorgiaInvestment salesNews

Stan Johnson Co. Brokers $4 Million Sale of Thomasville Center in Thomasville, Georgia

by Julia Sanders

Thomasville, Ga. — Stan Johnson Co. has brokered the $4 million sale of Thomasville Center, a 23,000-square-foot retail center located at 14669 U.S. 19 in Thomasville. The property was fully leased to Planet Fitness and DaVita at the time of sale. Brett Puckett and Ryan Roedersheimer of Stan Johnson Co., with support from Analyst Caleb Edwards, represented the seller, Vantage Thomasville Center LLC. Hawk’s Landing LLC purchased the property.

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Sunrise West
FloridaInvestment salesNews

Cushman & Wakefield Arranges Sale of Publix-Anchored Neighborhood Center

by Julia Sanders

Sunrise, Fla. — Cushman & Wakefield has arranged the sale of Sunrise West Shopping Center, a 76,411-square-foot, Publix-anchored neighborhood center located in Sunrise. Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, Principal Real Estate Investors, in the transaction. Global Fund Investments acquired the property for an undisclosed price. Located at 9010-9370 W. Commercial Blvd., the property is 93 percent leased to tenants including Carvel Ice Cream, Club Pilates, Pacific Dental, Rio Body Wax and Supercuts.

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Investment salesNewsTexas

J. Beard, Outlier Capital Acquire 141,450-Square-Foot Grocery-Anchored Shopping Center in Metro Houston

by Julia Sanders

Tomball, Texas — A joint venture between The J. Beard Real Estate Co. and Outlier Capital LLC has purchased Tomball Town Center, a 141,450-square-foot shopping center located in the northern outskirts of Houston. Kroger anchors the center, which was built on 14.1 acres in 2004. David Disney and Adam Crockett with Dallas-based Disney Investment Group represented the sellers, Illinois-based shopping center REIT InvenTrust Properties and a fund advised by Crow Holdings Capital, in the transaction. Morgan Stanley provided acquisition financing. Tomball Town Center was 98 percent leased at the time …

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Macys Furniture
Investment salesNew JerseyNews

NorthBridge Partners Buys Macy’s Furniture Gallery Store in Maple Shade, New Jersey, for $9.8 Million

by Julia Sanders

Maple Shade, N.J. — NorthBridge Partners has purchased the 72,625-square-foot Macy’s Furniture Gallery store in Maple Shade, a suburb of Philadelphia, for $9.8 million. The retail building sits on 9.4 acres and was originally built in 1991. Macy’s has occupied the building since 2001 and recently signed a 10-year lease extension. Andy Merin, David Bernhaut, Andrew Schwartz, Karen Iman, Jordan Sobel, Keith Braccia and Andre Balthazard of Cushman & Wakefield represented the undisclosed seller and NorthBridge Partners in the transaction.

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Michaels
CaliforniaInvestment salesNews

Hanley Investment Group Arranges $4.9 Million Sale of Single-Tenant Retail Property in Orange County

by Julia Sanders

Foothill Ranch, Calif. — Hanley Investment Group has arranged the $4.9 million sale of a single-tenant, net-leased retail property occupied by Michaels in South Orange County. The Michaels store is located within Foothill Ranch Towne Centre in Foothill Ranch. Eric Wohl and CJ Kiehler of Hanley represented the sellers, two separate family trusts based in Nevada and Southern California. Lee & Associates represented the buyer, a private investor based in Orange County. The 25,000-square-foot building was constructed in 1994 and is a junior anchor at the center. Michaels’ neighboring tenants …

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