Anaheim, Calif. — Faris Lee Investments has arranged the acquisition of three multi-tenant retail pad sites known as Anaheim Gateway Retail in Anaheim. Scott DeYoung and Jeff Conover of Faris Lee represented the undisclosed buyer in the transaction. The seller was also not disclosed. The three buildings total 15,356 square feet and are anchored by Starbucks Coffee, Habit Burger and California Fish Grill. The sales price was $20.5 million.
Huber Heights, Ohio — Marcus & Millichap has arranged the $8.5 million sale of North Heights Plaza in Huber Heights, just north of Dayton. The 113,732-square-foot shopping center was fully occupied at the time of sale. Anchor tenants include Hobby Lobby and Bed Bath & Beyond. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller marketed the property on behalf of the seller, a private out-of-state investor. The team procured the buyer, ExchangeRight, in collaboration with JRW Realty.
Wareham, Mass. — Horvath & Tremblay has negotiated the $7.2 million sale of Wareham Marketplace, a 35,247-square-foot retail center located about 70 miles south of Boston. Aldi anchors the newly constructed property, which is also home to tenants including Dollar Tree, AutoZone, Wendy’s and Mattress Firm. The pad sites occupied by the latter three tenants were not part of the sale and are being marketed separately. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller and procured the buyer in the deal.
Moreno Valley, Calif. — Newmark has arranged the sale of Lakeshore Village Marketplace, a neighborhood shopping center located in Moreno Valley. A Southern California-based private party acquired the retail property from an entity doing business as Lakeshore Plaza Holdings LLC for $8.3 million. Situated at 23575 Sunnymead Parkway, Lakeshore Village Marketplace features 80,000 square feet of retail space. The transaction also includes a 2.3-acre land parcel adjacent to the retail center. Lakeshore Village Marketplace has maintained a steady 87 percent occupancy rate by tenants including Armando’s Mexican Restaurant, Espresso & …
Honolulu — BlackSand Capital has acquired Waikiki Galleria Tower, a 15-story office and retail property on Kalakaua Avenue in Honolulu, for $270 million. The seller, 2222 SPE LLC, an affiliate of Sanno USA, originally bought the asset from Honolulu-based The Mills Group in December 2011 for $187.1 million. BlackSand Capital plans to redevelop the property’s two-story, 75,000-square-foot retail component, which was most recently occupied by DFS Group’s T Galleria. DFS declined to extend its lease on the space, which it had occupied since 1999.
Bridgeview, Ill. — Adelphia Properties has negotiated the $3.6 million sale of a single-tenant retail building occupied by Panera Bread in Bridgeview, about 15 miles southwest of Chicago. The newly constructed, 4,380-square-foot property is located at 8115 S. Harlem Ave. Simeon Spirrison and George Spirrison of Adelphia represented the buyer, a Chicago-based private investor. A Chicago-based developer was the seller. There are 15 years remaining on Panera Bread’s lease.
Hamilton, Ohio — Marcus & Millichap’s The Klink Group has brokered the $2.5 million sale of a Raising Cane’s ground lease in Hamilton, about 20 miles north of Cincinnati. The newly constructed property is located at 1479 Main St. Jordan Klink of Marcus & Millichap’s The Klink Group marketed the property on behalf of the seller, Cincinnati-based West Hamilton Investments LLC. Peak 1031 Exchange Inc., a qualified intermediary for a private investor based in California, was the buyer. Bria Yik, a real estate agent affiliated with California-based Real Estates Unlimited, …
Stonecrest, Ga. — Marcus & Millichap has brokered the $2.4 million sale of Evanswood Shopping Center, 58,000-square-foot retail property located in the Atlanta suburb of Stonecrest. Tim Giambrone of Marcus & Millichap led his team in advising both the buyer, Vishal Evanswood LLC, and the seller, a local investor based in Roswell, in the transaction. Evanswood Shopping Center anchored by Dollar General and the YMCA. The property is located at 2906-2926 Evans Mill Road, just west of the 1.3 million-square-foot Mall at Stonecrest, which is anchored by Dillard’s and Macy’s.
Southfield, Mich. — Friedman Real Estate has brokered the sale of the former Northland Mall in Southfield, a northern suburb of Detroit. The sales price was $11.1 million, according to the Detroit Free Press. Friedman was hired in 2017 to act as the City of Southfield’s real estate consultant and broker to market the redevelopment site. Contour Development was the buyer. Contour plans to build new residences, commercial space and amenities. Contour’s plan includes an adaptive reuse of the former J.L. Hudson Co. department store building into Hudson City Market, …
Suffolk, Va. — Cushman & Wakefield | Thalhimer has arranged the sale of Harbour View Shoppes, a retail center located at 5883-5889 Harbour View Boulevard in Suffolk. The center is fully leased to tenants including Starbucks Coffee and Verizon. A family trust based in North Carolina purchased the 17,774-square-foot retail property for $6.8 million. Clark Simpson of Cushman & Wakefield | Thalhimer represented the undisclosed seller in the transaction.
