Ashland, Va. — The Palomar Group has brokered the sale of Ashland Junction, a 141,701-square-foot retail property located roughly 18 miles outside Richmond in Ashland, to Peck Properties. Phillips Edison & Co. sold the center for $8.1 million. Ryan McArdle, Steve Collins and David Rivers of Palomar brokered the transaction. The property, which was built in 1989, was 92 percent occupied at the time of sale by tenants including Roses, Anytime Fitness, CVS/pharmacy and Food Lion.
West St. Paul, Minn. — Upland Real Estate Group’s net lease team has negotiated the sale of a Hobby Lobby-occupied property in West St. Paul for $6.3 million. Deborah Vannelli, Keith Sturm and Amanda Leathers of Upland represented the undisclosed seller in the transaction. The property sold to a California-based buyer.
Moreno Valley, Calif. — Argent Retail Advisors has arranged the sale of a single-tenant property formerly occupied by Acapulco restaurant at 12569 Centerpoint Drive in Moreno Valley. The property, which was vacant at the time of the sale, sold for $4.8 million in an all-cash transaction. The building is situated just off the 60 freeway at the intersection of Frederick St. and Sunnymead Boulevard. Terry Bortnick of Argent Retail Advisors represented the seller, Brixton Alto Shopping Center LLC, in the transaction.
Norfolk, Neb. — Avison Young has brokered the $4.5 million sale of Sunset Plaza Mall in Norfolk, a city in northeast Nebraska. The 232,347-square-foot shopping center is located at 1700 Market Lane. The property was lender-owned and was roughly 48 percent occupied at close of escrow. Built in 1968 and renovated in 1994, the mall sits on 31 acres and features a mix of 30 regional and national tenants, including JC Penney, Bath & Body Works, Famous Footwear and GNC. Chris Maling and David Maling of Avison Young represented the …
Roswell, Ga. — Saglo Development Corp. has acquired Stonebridge Square, a 160,391-square-foot shopping center located at 620 West Crossville Road in the Atlanta suburb of Roswell. Saglo purchased the 18.6-acre property through its investment entity Stonebridge SDC LLC from an affiliate of RCG Ventures and its New York City-based joint venture partner. Adam Lustig of Bilzin Sumberg represented the buyer and Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the sellers in the transaction. First Horizon Bank provided financing for the acquisition. Kohl’s and Michaels anchor Stonebridge Square, …
Fairview Park, Ohio — JLL Capital Markets has brokered the sale of Westgate Shopping Center, a 474,000-square-foot power center located in the Cleveland suburb of Fairview Park. The center is home to tenants including Target, Marshalls, EarthFare, Petco, Five Below, Kohl’s, Ulta Beauty, Lowe’s, Chick-fil-A, Longhorn Steakhouse, Buffalo Wild Wings, Starbucks Coffee and Five Guys. Clinton Mitchell, Amy Sands, Kirstey Lein and Bill Poffenberger of JLL represented the seller, IRC Retail Centers/DRA Advisors, in the disposition of the property to R.H. Johnson Co.
Orlando, Fla. — TCB-WCO has purchased West Colonial Oaks, a 160,792-square-foot shopping center located in Orlando, for $17 million. Office Depot, Family Dollar, Olive Garden and Ollie’s Bargain Discount Store anchor the property. Jose Sasson of Axiom Capital Advisors represented the undisclosed seller and Michael Smith of Sands Investment Group represented the buyer in the off-market transaction.
Tulsa Okla. — Stan Johnson Co. has negotiated the $13.7 million sale of a portfolio of 10 restaurant properties totaling 25,643 square feet that are leased to Taco Bueno. The properties are located in various cities in Texas and Oklahoma. Josh Pardue of Stan Johnson Co. represented the seller, U.S. Realty Advisors LLC, in the transaction. The buyer was Centric Capital Partners. The deal traded at a cap rate of 7.22 percent.
Midvale, Utah — Faris Lee Investments has arranged the $8.7 million sale of Garden Square shopping center, located roughly 12 miles outside Salt Lake City in Midvale. Nick D’Argenzio, Tom Chichester and Joe Chichester of Faris Lee Investments represented the undisclosed buyer and seller in the transaction.
Michigan City, Ind. — Hanley Investment Group has arranged the sale of Lake Park Plaza, a 114,867-square-foot, Hobby Lobby-anchored shopping center in Michigan City. The sales price was not disclosed, but the property was listed for $6.3 million. Eric Wohl and CJ Kiehler of Hanley Investment Group, in association with ParaSell Inc., represented the seller, RCG Ventures. The buyer was a private investment company based near Miami. Lake Park Plaza is located less than 60 miles from Chicago and is situated on 20.8 acres at 4303-4361 Franklin St. in Indiana’s …
