Indianapolis — Slate Grocery REIT has acquired Glenlake Plaza in Indianapolis for $8.5 million. Concurrent with the acquisition, the REIT has secured a new long-term lease with the property’s anchor tenant, Kroger, for 15 years. The shopping center spans 104,679 square feet of gross leasable area and features an occupancy rate of 85 percent. An owner and operator of grocery-anchored real estate, Slate Grocery REIT’s portfolio comprises $1.4 billion of assets across major U.S. markets. The company trades on the Toronto Stock Exchange.
Huber Heights and Vandalia, Ohio — Marcus & Millichap has brokered the sale of a Dayton-area retail portfolio occupied by Wendy’s for $4.6 million. The two properties in the portfolio are located in Huber Heights and Vandalia. CJ Jackson, Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap marketed the portfolio on behalf of the seller, a private investor. Buyer information was not disclosed.
Lakeland and Melbourne, Fla. — SRS Real Estate Partners has arranged the sale of two Crunch Fitness-occupied properties located in the central Florida cities of Lakeland and Melbourne. Matthew Mousavi, Patrick Luther and Patrick Nutt of SRS represented the seller, a Florida-based development firm, in the disposition of both properties to two separate buyers. Mousavi and Luther also represented the undisclosed buyers in the transactions, both of which are California-based private investors. The 18,000-square-foot Lakeland property is located at 5218 Florida Ave. S and sold for $5.9 million. Located at …
Old Saybrook, Conn. — New England Retail Properties has brokered the $6.7 million sale of The Shoppes at Old Saybrook. The 94,175-square-foot regional shopping center sits on 8.5 acres and is located in the southern coastal part of the state. Tenants include Ocean State Job Lot, Town Fair Tire, Dollar Tree, O’Reilly Auto Parts and Midas Muffler. Matt Halprin of New England Retail Properties represented the seller, Basser Kaufman Saybrook LLC, in the transaction. Halprin also procured the buyer, OSJL of Old Saybrook LLC.
San Antonio, Texas — KM Realty Investment Trust Inc. has acquired City Base Commons, a 7.5-acre shopping center comprised of five buildings with two pad sites south of downtown San Antonio. GFR Development sold the property, which is located on SE Military Drive. The sales price was not disclosed. The center is 94.8 percent leased to tenants including Credit Human, Kung Fu Tea, LA Crawfish, Jimmy John’s, McAllister’s Deli, Raising Cane’s and Smoothie King. Both pad sites are available for lease.
Escondido, Calif. — Faris Lee Investments has arranged the $6.1 million sale of the Shops at Trafalgar Square, a fully occupied, 14,164-square-foot strip center located 30 miles outside San Diego in Escondido. This sale completes the break-up of a larger ALDI-anchored center with an IHOP pad building. Matt Brooks and Joe Chichester of Faris Lee created and executed the break-up strategy for the center’s undisclosed initial owner. The buyer in the transaction was undisclosed.
Green Bay, Wis. — Colliers International has brokered the $18.6 million sale of Bayside Marketplace, a 229,572-square-foot shopping center located at 2763-2817 S Oneida St. in Green Bay. The property is anchored by Fresh Thyme and leased to a total of 13 tenants. Additional tenants include Joann Fabrics, Dunham’s Sports, Xperience Fitness, Dollar Tree and OfficeMax, which is located in a standalone building on an outparcel. The center is located east of the Interstate 41 and Highway 172 interchange. Adam Connor and Mark Pucci of Colliers | Wisconsin and El …
Marietta, Ga. — North American Properties (NAP) has acquired The Avenue East Cobb, a 230,000-square-foot retail development in Marietta. The seller and sales price were not disclosed. The property’s tenant roster features national brands such as lululemon atheltica, Sephora, Pottery Barn, Simply Mac, Bed Bath & Beyond and Williams Sonoma, as well as regional concepts such as High Country Outfitters, Stockyard Burgers & Bones and Tin Lizzy’s Cantina. NAP’s repositioning plan calls for the addition of a central event lawn surrounded by restaurants with patios. Built in 1999, Avenue East …
Trussville, Ala. — JLL has arranged the sale of Homestead Village, a 106,606-square-foot, Aldi-anchored shopping center in Trussville, about 17 miles outside of Birmingham. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the seller, Blackwater Resources, which also developed the property. An affiliate of Select Strategies Realty acquired the center. The sales price was not disclosed. Homestead Village was 99 percent leased at the time of sale to tenants such as HomeGoods, Petco, Five Below, Ulta Beauty, Panera Bread and Jimmy John’s. Located at 2000 Gadsden Highway, the …
Mission Viejo, Calif. — SRS Real Estate Partners has arranged the sale of a two-tenant retail property located at 26911 and 26921 Trabuco Road in Mission Viejo. Starpoint Properties sold the asset to a Hawaii-based private investor for $11 million. Smart & Final and Saddleback Carpet & Flooring fully occupy the 26,202-square-foot property, which is part of Alicia Trabuco Plaza. Smart & Final serves as the anchor tenant for the plaza. Matthew Mousavi and Patrick Luther of SRS’ National Net Lease Group represented the seller and buyer in the deal.