Investment sales

Southport Plaza
Investment salesNewsWisconsin

IPA Brokers Sale of Two Shopping Centers in Kenosha for $43.5 Million

by Julia Sanders

Kenosha, Wis. — Institutional Property Advisors (IPA) has brokered the sale of Southport Plaza and Indian Trail Plaza in Kenosha for $43.5 million. A Florida-based private buyer purchased the two adjacent shopping centers, which total 407,367 square feet. Anchored by Kohl’s, Fresh Thyme and Hobby Lobby, the centers were 92 percent occupied at the time of sale. Craig Fuller, Scott Wiles, Erin Patton and Jared Shapiro of IPA represented the seller, a Chicago-based private equity firm. The team also represented the buyer, which secured permanent financing from an undisclosed bank …

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Cedar Center South
Investment salesNewsOhio

Cushman & Wakefield Arranges $38.8 Million Sale of Whole Foods-Anchored Shopping Center Near Cleveland

by Julia Sanders

University Heights, Ohio — Cushman & Wakefield has arranged the $38.3 million sale of Cedar Center South in University Heights, about nine miles east of Cleveland. Anchored by Whole Foods Market, the 138,881-square-foot shopping center is located on Cedar Road. It is 91 percent leased to tenants such as CVS/pharmacy, Dollar Tree and Goodwill. Evan Halkias, Michael Marks, Hank Davis and Lane Breedlove of Cushman & Wakefield represented the undisclosed seller. Mike Ryan, Brian Linnihan, Richard Henry and Taylor Crowder of Cushman & Wakefield arranged a $25.7 million acquisition loan …

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Plant-Shops-Chandler-AZ
ArizonaInvestment salesNews

Armstrong Capital Purchases Shopping Center Portfolio in Arizona for $18.3 Million

by Katie Sloan

Chandler, Ariz. — Armstrong Capital Development has acquired The Plant Shops North and South, two adjacent shopping centers in Chandler, for $18.3 million. The name of the seller was not released. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark facilitated the transaction. Situated at 4205 and 4225 S. Gilbert Road, the properties were developed in 2018. Totaling 30,820 square feet, the portfolio was 92 percent leased at the time of sale. Current tenants include Barre3, AT&T, Zoyo Yogurt, Tryst Café and Dunkin Donuts.

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Market-Square_Marietta
GeorgiaInvestment salesNews

SRS Arranges $11 Million Sale of Big Lots-Anchored Shopping Center in Metro Atlanta

by Katie Sloan

Marietta, Ga. — SRS Real Estate Partners has brokered the $11 million sale of Market Square, a 137,889-square-foot shopping center located at 2932 Canton Road in Marietta. The center sits on 13.4 acres and houses tenants such as Big Lots, Ace Hardware and Planet Fitness. A privately held entity doing business as MSQ Realty LLC purchased the asset from an entity doing business as Wood Marietta Center LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction, and the buyer was self-represented.

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West-Colonial-Oaks
FloridaInvestment salesNews

Newport Capital Partners Acquires 160,792-Square-Foot Colonial Oaks Shopping Center in Orlando

by Katie Sloan

Orlando, Fla. — Newport Capital Partners has acquired West Colonial Oaks, a 160,792-square-foot, grocery-anchored shopping center situated on the southwest corner of West Colonial Drive and North Hiawassee Road in Orlando. Newport Capital acquired the property through its Newport Capital Partners Fund III. The property was sourced and acquired off-market from a private investor. Newmark arranged acquisition financing through Ameris Bank. The seller and sales price were not disclosed. West Colonial Oaks is currently 94 percent leased and its largest tenant is national discount retailer Ollie’s Bargain Outlet. The property’s …

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Icon-Central
FloridaInvestment salesNews

Tricera Capital Purchases ICON Central Retail Space in St. Petersburg for $11.1 Million

by Katie Sloan

St. Petersburg, Fla. — Tricera Capital has acquired a ground-floor retail space at Related Group’s recently completed ICON Central, a mixed-use development in St. Petersburg. The transaction totaled $11.1 million and included the adjoining Union Trust Bank building. In total, the ground-floor retail space and historic bank building span nearly 35,000 square feet of rentable space. Related Group was the seller. Currently, about 7,000 square feet of the retail space is leased to BurgerFi and Watts Dental, which are open now. Scott Wadler and Alec Fox of Berkadia secured $9.9 …

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Elmhurst-Restaurant
IllinoisInvestment salesNews

Adelphia Arranges Sale of Two Restaurant Properties in Metro Chicago

by Katie Sloan

Elmhurst and Crystal Lake, Ill. — Adelphia Properties has arranged the sale of two restaurant properties in metro Chicago. Dispositions include a 5,000-square-foot restaurant building formerly occupied by Elmhurst Family Restaurant in the Chicago suburb of Elmhurst; and a 4,500-square-foot vacant freestanding building located at 394 W. Virgin St. in Crystal Lake. George Spirrison and Simeon Spirrison of Adelphia Properties represented the sellers in each transaction, both of which were local investors. Terms of the transactions were undisclosed. 

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Windward-Square
GeorgiaInvestment salesNews

Stan Johnson Co. Brokers $3.2 Million Sale of Windward Square Shopping Center in Metro Atlanta

by Katie Sloan

Alpharetta, Ga. — Stan Johnson Co. has brokered the sale of Windward Square, a 11,166-square-foot shopping center located at 5215 Windward Parkway in the northern Atlanta suburb of Alpharetta. Jeff Enck of Stan Johnson Co. represented the 1031 exchange buyers, a group of private investors based in Georgia. Penn Hodge Properties sold the property for more than $3.2 million. Windward Square was fully leased to six tenants at the time of sale, including Verizon Wireless and Eye Level Learning Center. Originally constructed in 2003, the center is shadow-anchored by Costco and has other …

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Investment salesNewsTexas

Baker Katz Arranges Sale of 60,935-Square-Foot Former Star Furniture Retail Building in Houston

by Katie Sloan

Houston — Baker Katz has arranged the sale of a 60,935-square-foot retail building in Houston that was formerly occupied by Star Furniture. The building sits on 2.4 acres at 7111 FM 1960 on the city’s northwest side and includes showroom space. Jason Baker and Ben Brown of Baker Katz represented the seller, Power Squared Group, in the transaction. Brian Ashby of CBRE represented the buyer, Bel Furniture.

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Mist Lake Plaza
Investment salesKentuckyNews

SVN | Stone Secures $17.4 Million Sale of Mist Lake Plaza Shopping Center in Lexington, Kentucky

by Julia Sanders

Lexington, Ky. — SVN | Stone Commercial Real Estate has brokered the $17.4 million sale of Mist Lake Plaza, a 217,292-square-foot shopping center in Lexington. Matt Stone, Justin Ryder and Nathan Dilly of SVN | Stone represented the seller, DF Lexington Properties LLC. Jim Powell of The Gibson Co. represented the buyer, S & P Holdings LLC. The center will be the future home of Lexington Motorsports, a motorcycle dealer set to occupy about 125,442 square feet of the facility. The center was 89 percent occupied at the time of …

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