Investment sales

7 Eleven
Investment salesNewsTexas

RealSource Arranges Sale of 4,842-Square-Foot 7-Eleven in Houston

by Julia Sanders

Houston, Texas — RealSource Group has arranged the off-market disposition of a 4,842-square-foot retail property occupied by 7-Eleven, Laredo Taco Co. and a fuel station in Houston. The sales price was not disclosed. Austin Blodgett of RealSource, in association with ParaSell Inc., represented the seller, a private developer based in Houston. Chuck Klein with Cushman & Wakefield represented the buyer, a private investor based in Southern California. 7-Eleven opened at the property in June and occupies the building under a 15-year triple-net lease.

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St. Johns Town Center
FloridaInvestment salesNews

JLL Arranges Sale of 113,139-Square-Foot Shopping Center in Jacksonville

by Julia Sanders

Jacksonville, Fla. — JLL Capital Markets has arranged the sale of St. John’s Town Center North, a 113,139-square-foot shopping center in Jacksonville. Danny Finkle and Eric Williams of JLL represented the seller, American Realty Advisors LLC. An affiliate of Core Investment Management acquired the property for an undisclosed price. St. John’s Town Center North is situated on 14.2 acres at 4413-4507 Town Center Parkway North adjacent to St. John’s Town Center. Constructed between 2006 and 2007, St. John’s Town Center North is fully leased and is anchored by Publix and …

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Investment salesNewsTexas

RealSource Brokers Sale of 7-Eleven in DFW Metroplex

by Julia Sanders

Arlington, Texas — RealSource Group has brokered the sale of a 3,010-square-foot single-tenant retail property in Arlington that is triple-net leased to 7-Eleven. Austin Blodgett of RealSource, along with ParaSell Inc., represented the seller, a private developer based in Houston. Jeremy McChesney of Hanley Investment Group represented the buyer, a 1031 exchange investor based in Southern California. The asset traded at a cap rate of 4.7 percent. The 7-Eleven store, which includes a fuel station, opened on June 10 to mark the beginning of a new 15-year lease.

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Investment salesMichiganNews

Cohn Commercial Properties Brokers Sale of Former Target Store in Monroe, Michigan

by Julia Sanders

Monroe, Mich. — Cohn Commercial Properties has brokered the sale of a former Target store spanning 96,000 square feet in Monroe, about 40 miles southwest of Detroit. The building is located at 2121 N. Monroe St. The sales price and seller were undisclosed. Harry Cohn of Cohn Commercial represented the buyer, Richmond Main LLC, which will occupy the building for its auto parts business.

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Investment salesNewsWisconsin

Marcus & Millichap Arranges $9.6 Million Sale of Pick ’n Save-Occupied Property in Monroe, Wisconsin

by Julia Sanders

Monroe, Wis. — Marcus & Millichap has arranged the sale of a 61,136-square-foot property occupied by Pick ’n Save in Monroe, about 40 miles south of Madison. The net-leased asset sold for $9.6 million. Pick ’n Save recently signed a 10-year lease extension, expiring at the end of 2030. Jeff Rowlett of Marcus & Millichap represented the seller, a private investor, as well as the buyer, a REIT.

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ArizonaInvestment salesNews

Marcus & Millichap Arranges Sale of 14,820-Square-Foot Walgreens-Occupied Building in Maricopa, Arizona

by Julia Sanders

Maricopa, Ariz. — Marcus & Millichap has brokered the sale of a Walgreens property located on 1.7 acres at the intersection of North John Wayne Parkway and West Smith Enke Road in Maricopa. An out-of-state buyer acquired the asset from the estate of a Northern California family for $5.7 million. Walgreens occupies the 14,820-square-foot retail building on a net-leased basis. Sanford Burstyn of Marcus & Millichap’s Phoenix office represented the seller and procured the buyer in the deal.

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Bank of America Center
GeorgiaInvestment salesNews

Stan Johnson Co. Brokers Sale of 10,947-Square-Foot Center in Winder, Georgia

by Julia Sanders

Winder, Ga. — Stan Johnson Co. has brokered the sale of a 10,947-square-foot retail center located at 102 North Broad St. in Winder. At the time of sale, Bank of America Center was more than half occupied by Bank of America and has two vacant tenant spaces. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the seller, a private investor from Watkinsville, Georgia. The buyer, a developer from Atlanta, was represented by Jeff Enck of Stan Johnson Co. The property traded for more than $1 million, representing a …

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Happy Valley
ArizonaInvestment salesNews

Newmark Negotiates Sales of Two Grocery-Anchored Retail Centers in Phoenix Totaling $14 Million

by Julia Sanders

Phoenix — Newmark has arranged the sale of two grocery-anchored shopping centers located in Phoenix for a combined total of $14 million. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark facilitated the transactions. In the first deal, Boros Investments sold Safeway Shops at 83rd & Camelback, a multi-tenant retail center located at 4819 N. 83rd Ave. and 8141 W. Camelback Road, to an entity doing business as Reel Retail Fund I LLC. Tenants at the fully occupied property include H&R Block, Great Clips, One Main Financial, a doughnut shop, …

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Uptown Solon
Investment salesNewsOhio

Matthews Arranges $10.1 Million Sale of Shopping Center in Solon, Ohio

by Julia Sanders

Solon, Ohio — Matthews Real Estate Investment Services has arranged the $10.1 million sale of Uptown Solon Shopping Center in Solon, about 20 miles southeast of Cleveland. The 182,334-square-foot property is home to Bed Bath & Beyond, Old Navy, Ulta, Petco, Lumber Liquidators and Orange Theory Fitness. Ben Snyder and Zack Bates of Matthews brokered the sale. The seller was a subsidiary of Retail Value Inc. The buyer, United Growth, is a development and investment company that targets value-add properties.

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Riverview Town Centre
FloridaInvestment salesNews

Plaza Advisors Arranges Sale of 46,002-Square-Foot Riverview Town Centre in Metro Tampa

by Julia Sanders

Riverview, Fla. — Plaza Advisors has arranged the sale of Riverview Town Centre, a 46,002-square-foot retail plaza located in Riverview. The shopping center is located at the intersection of U.S. 301 and Gibsonton Drive. Riverview Town Centre is shadow-anchored by a Lowe’s Home Improvement store, and was 93 percent occupied at the time of sale with tenants including Amscot, Sport Clips, Dickey’s BBQ, Rent King and Mattress Firm. The center was constructed in 2006 and was sold by the original developer. The buyer, Riverview Town Centre LLC, is a private …

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