Miramar, Fla. — SRS Real Estate Partners has arranged the $7.3 million sale of a 1.7-acre retail site at 1700 S. Douglas in Miramar. The property will have a new 6,119-square-foot Wawa convenience store and 16-pump gas station. The property has a new 20-year ground lease in place with Wawa as the tenant. Wawa will break ground summer 2021 with plans to open the store approximately in the first quarter 2022. Patrick Nutt of SRS represented the seller, a Florida-based merchant developer, in the NNN transaction. The buyer was a …
Belton, Mo. — Quantum Real Estate Advisors Inc. has negotiated the sale of a freestanding, 10,000-square-foot retail property occupied by Ulta in Belton for $2.4 million. The building is located at 551 E. Markey Parkway. Zack Hilgendorf of Quantum represented the seller, a Kansas City-based developer. Buyer information was undisclosed. There are approximately eight years remaining on the lease term.
Davie, Fla. — Tiktin Real Estate Investment Services (TREIS) has arranged the $12.8 million sale of Broward Plaza, a 74,300-square-foot retail center located at 4803-4963 S. State Rd. 7 in Davie. An outparcel with a Miami Grill location was included as part of the sale. Broward Plaza, anchored by BrandsMartUSA, Dollar General and Big Chef, has a total of 17 tenants. El-Ad Broward Plaza LLC, an entity of El-Ad National Properties, acquired the 8.2-acre property from Saber Griffin Two LLC. Adam J. Tiktin of TREIS, represented both the buyer and …
West Haven, Conn. — O,R&L Commercial LLC has brokered the sale of Savin Rock Plaza, a 62,722-square-foot retail center in West Haven. The sales price was $3 million. Phil Marshall of O,R&L represented the buyer, DeLaurentis Management Corp., which plans to implement a capital improvement program, in the transaction. The seller was not disclosed.
Naples, Fla. — Quantum Real Estate Advisors Inc. has brokered the $6.1 million sale of a single-tenant, 7-Eleven location at 4704 Golden Gate Parkway in Naples. At the time of sale, there were approximately 14 years remaining on the 15-year 7-Eleven lease. The seller was a Midwest-based real estate investor and developer, while the buyer was a California-based 1031 exchange investor. Dan Waszak and Zack Hilgendorf of Chicago-based Quantum Real Estate Advisors Inc. represented the seller.
Camp Hill, Pa. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $90 million sale of Camp Hill Shopping Center. The property is located at 3301 Trindle Road in the borough of Camp Hill, roughly three miles outside Harrisburg. The 430,198-square-foot center was 96 percent leased at the time of sale to tenants including Giant Food Markets, Boscov’s Department Store, Staples, Five Below, Barnes & Noble and LA Fitness. Brad Nathanson of IPA represented the seller, Cedar Realty Trust (NYSE: CDR), and identified the buyer, …
Meriden, Conn. — DealPoint Merrill has acquired Centennial Plaza, a 158,000-square-foot retail power center in Meriden, located in the southern-central part of the state. The seller was not disclosed. Joe French and Kodi Traver of Marcus & Millichap brokered the deal in conjunction with David Frank of DealPoint Merrill. The new ownership plans to upgrade the 11-acre property with a $5.2 million renovation.
Rancho Cucamonga, Calif. — Progressive Real Estate Partners has arranged the sale of a single-tenant retail property located at 6644 Carnelian St. in Rancho Cucamonga. A Santa Barbara County, California-based private investor sold the property to a San Bernardino County, California-based private investor for $3.3 million. Greg Bedell of Progressive Real Estate Partners represented both parties in the transaction. Originally built as Pomona First Federal Bank in 1979, the 4,278-square-foot location was acquired by US Bank in 2008 and has operated continuously as a bank for the past 42 years.
Arlington, Texas — RealSource Group has arranged the sale of a 3,010-square-foot single-tenant property and fuel station occupied by 7-Eleven in Arlington. The off-market disposition achieved a cap rate of 4.7 percent. 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 property is located at the signalized intersection of Collins Street and Blue Lake Boulevard at 4016 N. Collins St. 7-Eleven currently occupies the …
Council Bluffs, Iowa — Metro Crossing Shopping Center in Council Bluffs has sold for an undisclosed price. The property spans 309,811 square feet. It was 96 percent occupied at the time of sale by 57 tenants, including Dick’s Sporting Goods, PetSmart, Kohl’s, Hobby Lobby, Old Navy and TJ Maxx. Ember Grummons of Investors Realty represented the buyer, Bridge 33 Capital. CBRE represented the seller, a partnership between Walton Street Capital and Pine Tree Commercial.